Stockholders' Equity (Tables)

12 Months Ended

Dec. 29, 2023

Stockholders' Equity Note [Abstract]

Schedule of Share-based Compensation, Fair Value of Stock-Based Compensation Granted

The following table represents the fair value of stock-based compensation granted during the year ended 2023 (in thousands):

	Fair Value
Stock options	$	21,239
RSUs		17,227
PSUs		10,338
Restricted stock		715
Total stock-based compensation expense	$	49,519

Schedule of Compensation Cost

The Company recorded stock-based compensation expense by award as follows (in thousands):

	Years Ended
	2023		2022		2021
Employee stock options	$	12,842	$	10,403	$	10,373
Restricted stock		548		686		616
RSUs		7,987		4,512		2,667
PSUs		1,270		3,525		371
Nonemployee stock options		869		1,245		578
Total stock-based compensation expense	$	23,516	$	20,371	$	14,605

Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs

The Company recorded stock-based compensation expense in the following categories (in thousands):

	Years Ended
	2023		2022		2021
Cost of sales	$	716	$	501	$	215
General and administrative		12,125		9,402		6,495
Selling and marketing		4,083		4,795		3,454
Research and development		6,592		5,673		4,441
Total stock-based compensation expense, net		23,516		20,371		14,605
Amounts capitalized as part of inventory		1,672		1,881		1,295
Total stock-based compensation expense, gross	$	25,188	$	22,252	$	15,900

Schedule of Unrecognized Compensation Cost, Non-Vested Stock-Based Compensation Arrangements

As of December 29, 2023, total unrecognized compensation cost related to non-vested stock-based compensation arrangements granted under the Equity Plan were as follows (in thousands):

	2023
Stock options	$	22,001
Restricted stock, RSUs and PSUs		16,952
Total unrecognized stock-based compensation cost	$	38,953

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The risk-free rate is based on the U.S. Treasury yield curve corresponding to the expected term at the time of the grant.

	Years Ended
	2023			2022			2021
Expected dividend yield		0	%		0	%		0	%
Expected volatility		60	%		54	%		53	%
Risk-free interest rate		3.98	%		2.09	%		0.84	%
Expected term (in years)		5.05			5.10			5.38

Schedule of Share-based Compensation, Stock Options, Activity

A summary of stock option activity under the Equity Plan for the year ended December 29, 2023 was as follows:

	Shares (in 000’s)			Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (years)		Aggregate Intrinsic Value (in 000’s)
Outstanding at December 30, 2022		2,469		$	39.63
Granted		749			51.88
Exercised		(518	)		18.67
Forfeited or expired		(70	)		72.30
Outstanding at December 29, 2023		2,630		$	46.38		6.04	$	10,088
Exercisable at December 29, 2023		1,704		$	40.70		4.55	$	10,088

Share-based Compensation, Performance Shares Award Unvested Activity

A summary of unvested stock options activity under the Equity Plan for the year ended December 29, 2023 was as follows:

	Shares (in 000’s)			Weighted- Average Grant-Date Fair Value
Outstanding at December 30, 2022		633		$	35.37
Granted		749			28.36
Forfeited or expired		(70	)		35.30
Vested		(386	)		34.63
Unvested at December 29, 2023		926		$	30.09

Summary of Weighted Average Grant Date Fair Value of Stock Options Granted Under The Equity Plan and Total intrinsic Value of Stock options Exercised

The weighted average grant date fair value of stock options granted under the Equity Plan and the total intrinsic value of stock options exercised were as follows:

	Years Ended
	2023		2022		2021
Weighted-average grant-date fair value	$	28.36	$	35.68	$	45.08
Intrinsic value of options exercised (in thousands)	$	17,041	$	25,000	$	127,024

Schedule of Share-based Compensation, Restricted Stock, RSU and PSU Activity

A summary of restricted stock, RSU and PSU activity under the Equity Plan for the year ended December 29, 2023 was as follows:

	Restricted Stock					Restricted Stock Units					Performance Stock Units
	Units (in 000’s)			Weighted- Average Grant- Date Fair Value		Units (in 000’s)			Weighted- Average Grant- Date Fair Value		Units (in 000’s)			Weighted- Average Grant- Date Fair Value
Outstanding at December 30, 2022		4		$	62.10		192		$	73.25		118		$	73.78
Granted		15			46.70		336			51.28		182			56.64
Vested		(5	)		55.99		(95	)		68.43		(35	)		71.41
Forfeited or expired		—			—		(32	)		75.86		(209	)		58.93
Outstanding at December 29, 2023		14		$	47.61		401		$	55.75		56		$	74.80