Quarterly report [Sections 13 or 15(d)]

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 29, 2025
Jun. 30, 2024
Operating activities:    
Net income (loss) $ (9,710) $ (9,935)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 20,699 13,285
Non-cash lease termination and exit costs 3,500 321
Stock-based compensation 3,102 2,853
Amortization of debt issuance costs and debt original issuance discounts 1,770 806
Deferred taxes 945 (3,862)
Non-cash loss on early debt extinguishment   1,674
Changes in operating assets and liabilities, net of acquisition:    
Accounts receivable 2,718 2,623
Inventory 2,014 1,425
Other current assets (1,105) 2,300
Security deposits (126) (35)
Other assets (300) (2,397)
Accounts payable (1,486) 891
Accrued expenses (9,348) (4,007)
Operating lease liabilities and right-of-use assets 1,136 1,070
Other liabilities (2,476) (458)
Net cash provided by operating activities 11,333 6,554
Investing activities:    
Purchase of property and equipment (32,148) (34,941)
Acquisition related payments, net of cash acquired   (368,605)
Net cash used in investing activities (32,148) (403,546)
Financing activities:    
Borrowings of long-term debt   333,829
Repayments of long-term debt and financing lease liabilities (1,011) (73,612)
Issuance of Series A preferred stock net of discount   138,943
Issuance of warrants to Series A preferred stockholders   10,771
Exercise of stock options   242
Tax-withholding obligation on stock-based compensation (296) (480)
Purchase of treasury stock (905) (888)
Net cash used in financing activities (2,212) 408,805
Effect of exchange rate changes on cash 113 (61)
Net change in cash and cash equivalents and restricted cash and cash equivalents (22,914) 11,752
Cash and cash equivalents and restricted cash and cash equivalents, beginning of period 28,075 21,047
Cash and cash equivalents and restricted cash and cash equivalents, end of period 5,161 32,799
Supplemental disclosure of cash flow data:    
Interest paid, net of capitalized interest 18,426 4,572
Income taxes paid 873 413
Accrued purchases of property and equipment $ 13,449 $ 10,768