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Business Combinations (Tables) | 3 Months Ended | 12 Months Ended
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Mar. 29, 2026 | Dec. 28, 2025
Business Combinations [Abstract] |  |
Schedule of Total Consideration is Summarized | The total consideration is summarized as follows (in thousands):
Consideration |  |  |
Fair value of shares of the Company’s common stock issued at Cobalt Closing (classified within Additional paid-in capital) |  | $ | 3,333 |
Deferred Cobalt Consideration Shares (Classified within Deferred consideration, current and noncurrent) |  |  | 6,331 |
Fair value of total consideration |  | $ | 9,664 |
The consideration initially paid and remaining payable as of the date of the Sunder Closing is summarized below (in thousands):
|  | Consideration |
Paid at Sunder Closing |  |  |  |
Cash |  | $ | 20,689 |
Seller note |  |  | 20,000 |
Fair value of 3.3 million shares of the Company’s common stock |  |  | 5,700 |
Payable subsequent to Sunder Closing |  |  |  |
Deferred Sunder Consideration Shares (fair value of 6.7 million shares of the Company’s common stock at Sunder Closing) |  |  | 11,400 |
Fair value of total consideration at Sunder Closing |  | $ | 57,789 |
The total consideration is summarized as follows (in thousands):
Consideration |  |  |
Fair value of 10,243,924 shares of the Company’s common stock issued at Ambia Closing |  | $ | 16,493 |
Deferred Ambia Consideration Shares |  |  | 16,879 |
Fair value of total consideration |  | $ | 33,372 |
| The consideration is summarized as follows (in thousands):
Consideration |  |  |
Cash |  | $ | 20,689 |
Seller note |  |  | 20,000 |
Fair value of 3,333,334 shares of the Company’s common stock (classified within Additional paid-in-capital) |  |  | 5,700 |
Deferred Sunder Consideration Shares (fair value of 6,666,666 shares of the Company’s common stock): |  |  |  |
Classified within Deferred consideration, current with related party |  |  | 5,700 |
Classified within Deferred consideration, noncurrent with related party |  |  | 5,700 |
Fair value of total consideration |  | $ | 57,789 |
Consideration |  |  |
Fair value of 10,243,924 shares of the Company’s common stock issued at Ambia Closing (classified within Additional paid-in capital) |  | $ | 16,493 |
Deferred Ambia Consideration Shares (Classified within Deferred consideration, current) |  |  | 16,879 |
Fair value of total consideration |  | $ | 33,372 |
Schedule of Provisional Fair Values of Identifiable Assets Acquired and Liabilities Assumed | The provisional fair values of identifiable assets acquired and liabilities assumed are identified below (in thousands):
|  | Provisional fair values as of Cobalt Closing |
Net assets acquired: |  |  |
Cash and cash equivalents |  | $ | 553 |
Trade accounts receivable, net |  |  | 3,642 |
Inventories |  |  | 1,739 |
Prepaid expenses and other current assets |  |  | 30 |
Property and equipment, net |  |  | 485 |
Intangible assets, net |  |  | 3,871 |
Operating lease right-of-use assets |  |  | 1,277 |
Accounts payable |  |  | (3,864 | )
Accrued expenses and other current liabilities |  |  | (1,002 | )
Short-term debt with third parties |  |  | (2,706 | )
Other long-term liabilities |  |  | (1,099 | )
Contract liabilities |  |  | (5,238 | )
Deferred tax liability |  |  | (1,001 | )
Fair value of the excess of liabilities assumed over assets acquired |  |  | (3,313 | )
Fair value of common stock issued |  |  | 3,333 |
Fair value of Deferred Cobalt Consideration Shares |  |  | 6,331 |
Consideration transferred |  |  | 9,664 |
Goodwill recognized |  | $ | 12,977 |
As of the date of acquisition, the intangible assets acquired and estimated useful lives were as follows:
|  | Estimated useful life |  | Provisional fair values as of the Cobalt Closing |
Customer relationships (Backlog) |  | 18 months |  | $ | 1,100 |
Trade name – Cobalt |  | 10 years |  |  | 2,000 |
Building lease intangible asset – favorable lease |  | 6 years |  |  | 771 |
Total |  |  |  | $ | 3,871 |
(in thousands) |  | Provisional fair values |
Net assets acquired: |  |  |
Accounts receivable |  | $ | 797 |
Prepaid expenses and other current assets |  |  | 3,039 |
Property and equipment |  |  | 241 |
Operating lease right-of-use assets |  |  | 313 |
Other noncurrent assets |  |  | 135 |
Intangibles |  |  | 37,500 |
Contract liabilities |  |  | (11,673 | )
Accounts payable |  |  | (203 | )
Accrued expenses and other current liabilities |  |  | (3,850 | )
Operating lease liabilities |  |  | (332 | )
Fair value of net assets acquired |  |  | 25,967 |
Consideration transferred |  |  | 57,789 |
Goodwill recognized |  | $ | 31,822 |
Intangible assets acquired and estimated useful lives were as follows (in thousands):
|  | Estimated useful life |  |  | Provisional fair values |
Customer relationships |  | 10 years |  |  | $ | 30,600 |
Trademark - Sunder |  | 10 years |  |  |  | 6,100 |
Developed technology - Sunder |  | 2 years |  |  |  | 800 |
Total |  |  |  |  | $ | 37,500 |
The provisional fair values of identifiable assets acquired and liabilities assumed are identified below (in thousands):
|  | Provisional fair values as of the Ambia Closing |
Net assets acquired: |  |  |
Cash and cash equivalents |  | $ | 1,350 |
Accounts receivable |  |  | 1,368 |
Contract assets - unbilled receivables |  |  | 1,143 |
Prepaid expenses and other current assets |  |  | 797 |
Property and equipment, net |  |  | 2,230 |
Intangible assets |  |  | 4,300 |
Operating lease right-of-use assets |  |  | 2,563 |
Other noncurrent assets |  |  | 182 |
Accounts payable |  |  | (2,806 | )
Accrued expenses and other current liabilities |  |  | (2,917 | )
Contract liabilities |  |  | (1,675 | )
Operating lease liabilities, noncurrent |  |  | (2,702 | )
Finance lease liabilities |  |  | (1,269 | )
Fair value of net assets acquired |  |  | 2,564 |
Fair value of common stock issued |  |  | 16,493 |
Fair value of Deferred Ambia Consideration Shares |  |  | 16,879 |
Consideration transferred |  |  | 33,372 |
Goodwill recognized |  | $ | 30,808 |
As of the Ambia Closing, the intangible assets acquired and estimated useful lives were as follows:
|  | Estimated useful life |  | Provisional Fair values as of the Ambia Closing |
Customer relationships (Backlog) |  | 1 year (1) |  | $ | 3,400 |
Trademarks - Ambia |  | 1 year |  |  | 900 |
Total |  |  |  | $ | 4,300 |
| (1) | Useful life is based upon customer consumption, expected to occur within one year.
| The following table summarizes the provisional and final fair values of identifiable assets acquired and liabilities assumed and measurement period adjustments (in thousands):
|  | Provisional fair values as of December 29, 2024 |  |  | Measurement period adjustments in fiscal 2025 |  |  | Final fair values |
Net assets acquired: |  |  |  |  |  |  |  |  |
Cash |  | $ | 1,000 |  |  | $ | — |  |  | $ | 1,000 |
Accounts receivable |  |  | 11,999 |  |  |  | 4,615 |  |  |  | 16,614 |
Contract assets |  |  | 4,615 |  |  |  | (4,615 | ) |  |  | — |
Inventories |  |  | 27,706 |  |  |  | 20,682 |  |  |  | 48,388 |
Prepaid expenses and other current assets |  |  | 2,219 |  |  |  | — |  |  |  | 2,219 |
Property and equipment |  |  | 5,867 |  |  |  | — |  |  |  | 5,867 |
Operating lease right-of-use assets |  |  | 2,506 |  |  |  | — |  |  |  | 2,506 |
Other noncurrent assets |  |  | 541 |  |  |  | — |  |  |  | 541 |
Intangibles |  |  | 18,100 |  |  |  | (2,206 | ) |  |  | 15,894 |
Deferred revenue |  |  | (7,361 | ) |  |  | — |  |  |  | (7,361 | )
Accounts payable |  |  | (5,270 | ) |  |  | — |  |  |  | (5,270 | )
Accrued expenses and other current liabilities |  |  | (13,955 | ) |  |  | — |  |  |  | (13,955 | )
Operating lease liabilities |  |  | (2,963 | ) |  |  | — |  |  |  | (2,963 | )
Other long-term liabilities |  |  | (8,980 | ) |  |  | — |  |  |  | (8,980 | )
Fair value of net assets acquired |  |  | 36,024 |  |  |  | 18,476 |  |  |  | 54,500 |
Goodwill recognized |  |  | 18,476 |  |  |  | (18,476 | ) |  |  | — |
Consideration transferred |  | $ | 54,500 |  |  | $ | — |  |  | $ | 54,500 |
The provisional and final fair values of the intangible assets acquired and estimated useful lives were as follows:
|  | Estimated useful life |  | Provisional fair values as of December 29, 2024 |  |  | Measurement period adjustments in fiscal 2025 |  |  | Final fair values |
Trademark – Blue Raven Solar |  | 10 years |  | $ | 8,400 |  |  | $ | (1,306 | ) |  | $ | 7,094 |
Trademark - SunPower |  | 10 years |  |  | 5,200 |  |  |  | (900 | ) |  |  | 4,300 |
Developed technology |  | 3 years |  |  | 4,500 |  |  |  | — |  |  |  | 4,500 |
Total |  |  |  | $ | 18,100 |  |  | $ | (2,206 | ) |  | $ | 15,894 |
The following table summarizes the provisional fair value of identifiable assets acquired and liabilities assumed (in thousands):
|  | Provisional fair values as of September 24, 2025 |  |  | Measurement period adjustments in fiscal 2025 |  |  | Provisional fair values as of December 28, 2025 |
Net assets acquired: |  |  |  |  |  |  |  |  |
Accounts receivable |  | $ | 257 |  |  | $ | 540 |  |  | $ | 797 |
Prepaid expenses and other current assets |  |  | 387 |  |  |  | 2,652 |  |  |  | 3,039 |
Property and equipment |  |  | 241 |  |  |  | — |  |  |  | 241 |
Operating lease right-of-use assets |  |  | 313 |  |  |  | — |  |  |  | 313 |
Other noncurrent assets |  |  | 552 |  |  |  | (417 | ) |  |  | 135 |
Intangibles |  |  | 25,922 |  |  |  | 11,578 |  |  |  | 37,500 |
Contract liabilities |  |  | (11,073 | ) |  |  | (600 | ) |  |  | (11,673 | )
Accounts payable |  |  | (184 | ) |  |  | (19 | ) |  |  | (203 | )
Accrued expenses and other current liabilities |  |  | (1,322 | ) |  |  | (2,528 | ) |  |  | (3,850 | )
Operating lease liabilities |  |  | (215 | ) |  |  | (117 | ) |  |  | (332 | )
Fair value of net assets acquired |  |  | 14,878 |  |  |  | 11,089 |  |  |  | 25,967 |
Consideration transferred |  |  | 57,789 |  |  |  | — |  |  |  | 57,789 |
Goodwill recognized |  | $ | 42,911 |  |  | $ | (11,089 | ) |  | $ | 31,822 |
As of the date of acquisition, the intangible assets acquired and estimated useful lives were as follows:
|  | Estimated useful life |  | Provisional fair values as of September 24, 2025 |  |  | Measurement period adjustments in fiscal 2025 |  |  | Provisional fair values as of December 28, 2025 |
Customer relationships |  | 10 years |  | $ | 9,279 |  |  | $ | 21,321 |  |  | $ | 30,600 |
Trademark - Sunder |  | 10 years |  |  | 2,427 |  |  |  | 3,673 |  |  |  | 6,100 |
Developed technology - Sunder |  | 2 years |  |  | 14,216 |  |  |  | (13,416 | ) |  |  | 800 |
Total |  |  |  | $ | 25,922 |  |  | $ | 11,578 |  |  | $ | 37,500 |
The provisional fair values of identifiable assets acquired and liabilities assumed are identified below (in thousands):
|  | Provisional fair values as of December 28, 2025 |
Net assets acquired: |  |  |
Cash and cash equivalents |  | $ | 1,350 |
Accounts receivable |  |  | 1,368 |
Contract assets - unbilled receivables |  |  | 1,143 |
Prepaid expenses and other current assets |  |  | 797 |
Property and equipment, net |  |  | 2,230 |
Intangible assets |  |  | 4,300 |
Operating lease right-of-use assets |  |  | 2,563 |
Other noncurrent assets |  |  | 182 |
Accounts payable |  |  | (2,806 | )
Accrued expenses and other current liabilities |  |  | (2,917 | )
Contract liabilities |  |  | (1,675 | )
Operating lease liabilities, noncurrent |  |  | (2,702 | )
Finance lease liabilities |  |  | (1,269 | )
Fair value of net assets acquired |  |  | 2,564 |
Fair value of common stock issued (classified within Additional paid-in-capital) |  |  | 16,493 |
Fair value of Deferred Ambia Consideration Shares (Accrued expenses and other current liabilities) |  |  | 16,879 |
Consideration transferred |  |  | 33,372 |
Goodwill recognized |  | $ | 30,808 |
As of the date of acquisition, the intangible assets acquired and estimated useful lives were as follows:
|  | Estimated useful life |  | Provisional Fair values as of December 28, 2025 |
Customer relationships (Backlog) |  | 1 year (1) |  | $ | 3,400 |
Trademarks - Ambia |  | 1 year |  |  | 900 |
Total |  |  |  | $ | 4,300 |
(1) Useful life is based upon customer consumption, expected to occur within one year.
Schedule of Operations of the Combined Business | The pro forma results do not necessarily reflect the actual results of operations of the combined business (in thousands):
|  | Unaudited |
|  | Thirteen Weeks Ended |
|  | March 29, |  |  | March 30, |
|  | 2026 |  |  | 2025 |
Pro forma revenue |  | $ | 114,579 |  |  | $ | 101,190 |
Pro forma net income from operations |  |  | 1,725 |  |  |  | 187 |
| The pro forma results do not necessarily reflect the actual results of operations of the combined business (in thousands):
|  | Unaudited |
|  | Fiscal Year Ended |
|  | December 28, |  |  | December 29, |
|  | 2025 |  |  | 2024 |
Pro forma revenue |  | $ | 429,689 |  |  | $ | 480,427 |
Pro forma net loss from continuing operations |  |  | (59,168 | ) |  |  | (312,801 | )

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