Annual report [Section 13 and 15(d), not S-K Item 405]

Income Taxes (Tables)

v3.25.1
Income Taxes (Tables)
12 Months Ended
Dec. 28, 2024
Income Taxes  
Components of Loss Before Income Taxes

 

Fiscal Year Ended

    

December 28, 2024

    

December 30, 2023

Domestic operations

$

(41,208)

$

(8,888)

Foreign operations

 

874

 

810

Total loss before income taxes

$

(40,334)

$

(8,078)

Summary of Income Tax (Benefit) Provision

 

Fiscal Year Ended

    

December 28, 2024

    

December 30, 2023

Current:

 

  

 

State tax

$

67

$

(87)

Foreign tax

 

200

232

Total current taxes

 

267

 

145

Deferred:

 

  

Federal tax

 

(5,730)

(737)

State tax

 

(1,054)

(128)

Total deferred taxes

 

(6,784)

 

(865)

Valuation allowance

 

6,784

 

865

Income tax provision

$

267

$

145

Summary of Differences Between Income Tax Provision (Benefit) and Applied Federal Statutory Rate

    

Fiscal Year Ended

December 28, 2024

    

December 30, 2023

Income tax at U.S. federal statutory rate

$

(8,470)

$

(1,643)

Share-based compensation

 

2,598

817

State income tax, net of federal tax effect

 

(780)

(170)

Foreign tax

 

178

173

Other

 

(43)

103

Change in valuation allowance

 

6,784

865

Effective tax provision

$

267

$

145

Summary of Deferred Tax Assets and Deferred Tax Liabilities

December 28, 2024

    

December 30, 2023

Deferred tax assets:

 

  

 

  

Inventory and inventory related allowance

$

1,944

$

1,605

Lease liabilities

9,564

8,609

Share-based compensation

 

3,782

 

4,024

Book over tax depreciation

2,383

1,043

Intangibles

 

78

 

90

Sales and bad debt allowances

 

1,092

 

1,130

Accrued compensation

 

142

 

127

Net operating loss

 

34,998

 

29,632

Other

 

114

 

47

Total deferred tax assets

 

54,097

 

46,307

Valuation allowance

 

(45,463)

 

(38,458)

Net deferred tax assets

 

8,634

 

7,849

Deferred tax liabilities:

 

  

 

  

Right-of-use assets

8,633

7,847

Other

 

1

 

2

Total deferred tax liabilities

 

8,634

 

7,849

Net deferred tax assets

$

$

Summary of State NOL Carryforwards Expiration Year

2029

    

$

1,814

2030

 

9,455

2031

 

14,557

2032

 

22,740

2033

 

24,832

Thereafter

 

20,424

$

93,822