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

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​

​

​

​

​

​

​

​

 

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

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​

​

​

​

​

​

​

​

    

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