Income Taxes

6 Months Ended

Jun. 28, 2022

Income Tax Disclosure [Abstract]

Income Taxes

Income Taxes

The following table presents the Company’s provision for income taxes (in thousands):

	Fiscal Quarter Ended						Two Fiscal Quarters Ended
	June 28, 2022			June 29, 2021			June 28, 2022			June 29, 2021
Provision for (benefit from) income taxes	$	44		$	29		$	(39)		$	19
Effective tax rate	3.2		%	0.5		%	0.8		%	0.5		%

The effective tax rate for the second quarter of 2022 and the first two quarters of 2022 reflects the impact of the previously recorded valuation allowance. For the remainder of fiscal 2022, the Company does not anticipate material income tax expense or benefit as a result of the valuation allowance recorded. The Company will maintain the valuation allowance against deferred tax assets until there is sufficient evidence to support a full or partial reversal. The reversal of a previously recorded valuation allowance will generally result in a benefit from income tax.