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Leases (Tables) | 6 Months Ended
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Jun. 28, 2024
Leases [Abstract] |
Schedule of Lease Expense | Lease expenses recorded within the condensed consolidated statements of operations are comprised as follows:
|  | Three Months Ended |  |  | Six Months Ended |
(In thousands) |  | June 28, 2024 |  |  | June 30, 2023 |  |  | June 28, 2024 |  |  | June 30, 2023 |
Operating lease cost |  |  |  |  |  |  |  |  |  |  |  |
Cost of revenue |  | $ | 2,397 |  |  | $ | 3,543 |  |  | $ | 4,749 |  |  | $ | 6,778 |
Selling, general and administrative expenses |  |  | 245 |  |  |  | 379 |  |  |  | 550 |  |  |  | 672 |
Finance lease cost (all in cost of revenue): |  |  |  |  |  |  |  |  |  |  |  |
Amortization of right-of-use assets |  |  | 66 |  |  |  | 75 |  |  |  | 133 |  |  |  | 150 |
Interest on lease liabilities |  |  | 6 |  |  |  | 6 |  |  |  | 14 |  |  |  | 13 |
Short-term lease cost |  |  | 100 |  |  |  | 175 |  |  |  | 182 |  |  |  | 318 |
Total lease cost |  | $ | 2,814 |  |  | $ | 4,178 |  |  | $ | 5,628 |  |  | $ | 7,931 |
Schedule of Balance Sheets Information Related to Leases | Additional condensed consolidated balance sheets information related to leases is as follows:
|  |  |  | June 28, |  |  | December 29, |
(In thousands) |  | Balance Sheet Classification |  | 2024 |  |  | 2023 |
Assets: |  |  |  |  |  |  |  |
Operating lease assets |  | Lease right-of-use assets |  | $ | 21,173 |  |  | $ | 23,568 |
Finance lease assets |  | Lease right-of-use assets |  |  | 155 |  |  |  | 287 |
Total lease assets |  |  |  | $ | 21,328 |  |  | $ | 23,855 |
Liabilities: |  |  |  |  |  |  |  |
Current: |  |  |  |  |  |  |  |
Operating lease liabilities |  | Other current liabilities |  | $ | 7,842 |  |  | $ | 8,247 |
Finance lease liabilities |  | Other current liabilities |  |  | 190 |  |  |  | 317 |
Total current lease liabilities |  |  |  | $ | 8,032 |  |  | $ | 8,564 |
Non-current: |  |  |  |  |  |  |  |
Operating lease liabilities |  | Lease liabilities, non-current |  | $ | 13,154 |  |  | $ | 15,017 |
Finance lease liabilities |  | Lease liabilities, non-current |  |  | - |  |  |  | 28 |
Total non-current lease liabilities |  |  |  | $ | 13,154 |  |  | $ | 15,045 |
Schedule of Weighted Average Remaining Lease Term | Weighted average remaining lease term information related to leases is as follows:
|  | June 28, |  | December 29,
|  | 2024 |  | 2023
Weighted average remaining lease term (in years): |  |  |  |
Operating leases |  | 3.3 |  | 3.4
Finance leases |  | 0.6 |  | 1.1
Weighted average discount rate: |  |  |  |
Operating leases |  | 6.5% |  | 6.3%
Finance leases |  | 9.9% |  | 9.9%
Schedule of Supplemental Cash Flow Information Related to Leases | Supplemental cash flow information related to leases is as follows:
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 28, |  |  | June 30, |  |  | June 28, |  |  | June 30, |
(In thousands) |  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Operating cash flows from operating leases |  | $ | 2,873 |  |  | $ | 3,236 |  |  | $ | 5,207 |  |  | $ | 6,028 |
Financing cash flows from finance leases |  |  | 78 |  |  |  | 78 |  |  |  | 155 |  |  |  | 155 |
Right-of-use assets obtained in exchange for new operating leases |  | $ | 165 |  |  | $ | 2,440 |  |  | $ | 2,045 |  |  | $ | 11,044 |
Schedule of Remaining Lease Payments Under Operating and Financing Leases | Total remaining lease payments under both the Company’s operating and finance leases are as follows:
|  | Operating |  |  | Financing |
(In thousands) |  | Leases |  |  | Leases |
Year |  |  |  |  |  |
2024 |  | $ | 4,599 |  |  | $ | 169 |
2025 |  |  | 8,883 |  |  |  | 28 |
2026 |  |  | 4,081 |  |  |  | — |
2027 |  |  | 2,424 |  |  |  | — |
2028 |  |  | 2,236 |  |  |  | — |
Thereafter |  |  | 1,077 |  |  |  | — |
Total lease payments |  |  | 23,300 |  |  |  | 197 |
Amounts representing interest |  |  | (2,304 | ) |  |  | (7 | )
Total lease liabilities |  | $ | 20,996 |  |  | $ | 190 |

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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-4 + Details
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