v3.26.3
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Oct. 02, 2026
Dec. 31, 2025
Current Assets:    
Cash $ 105,714 $ 1,759
Restricted cash 124,710 0
Marketable securities 6,564 202
Accounts receivable, net 45,424 28,904
Government grant receivables 1,081 1,690
Related party receivables 111 426
Unbilled revenue 3,517 2,621
Inventories, net 152,768 69,697
Prepaid expenses and other current assets 9,276 4,774
Total current assets 449,165 110,073
Property, plant and equipment, net 42,031 42,342
Operating lease right-of-use assets 11,507 10,586
Intangible assets, net 6,246 7,184
Goodwill 4,505 4,583
Deferred tax assets, net 89 0
Other assets 9,777 878
Total assets 523,320 175,646
Current Liabilities:    
Accrued expenses and other current liabilities 24,320 13,659
Operating lease liabilities, current portion 1,041 875
Deferred government grants 1,667 4,672
Deferred revenue 25,621 14,853
Total current liabilities 75,964 60,298
Operating lease liabilities, net of current portion 11,138 10,247
Deferred tax liabilities, net 3,227 0
Other liabilities 784 1,189
Total liabilities 125,252 115,189
Commitments and Contingencies (Note 20)
Redeemable Preferred Stock:    
Class A Redeemable Preferred Stock - $0.001 par value; 450,000 and 0 shares authorized as of October 2, 2026 and December 31, 2025, respectively; 200,000 and 0 shares issued and outstanding as of October 2, 2026 and December 31, 2025, respectively; aggregate redemption value of $200,551 and $0 as of October 2, 2026 and December 31, 2025, respectively 120,378 0
Stockholders’ Equity:    
Preferred Stock - $0.001 par value; 20,000,000 shares authorized at October 2, 2026 and December 31, 2025, respectively. No shares issued and outstanding as of October 2, 2026 and December 31, 2025 0 0
Common Stock 30  
Additional paid-in capital 229,830 15,366
Retained earnings 48,164 44,791
Accumulated other comprehensive (loss) income (334) 280
Total stockholders’ equity 277,690 60,457
Total liabilities, redeemable preferred stock, and stockholders’ equity 523,320 175,646
Related Party    
Current Assets:    
Related party receivables 100 200
Current Liabilities:    
Accounts payable 216 0
Current portion of long-term debt 0 2,319
Long-term debt, net of current portion 0 15,000
Nonrelated Party    
Current Liabilities:    
Accounts payable 20,650 16,165
Current portion of long-term debt 2,449 7,755
Long-term debt, net of current portion $ 34,139 28,455
Class A Common Stock    
Stockholders’ Equity:    
Common Stock   20
Class B Common Stock    
Stockholders’ Equity:    
Common Stock   $ 0

Source

10-Q XBRL Zip