INCOME TAXES

3 Months Ended

Apr. 01, 2023

Income Tax Disclosure [Abstract]

INCOME TAXES

9. INCOME TAXES

The Company recorded a provision for income taxes of less than $0.1 million in each of the three months ended April 1, 2023, and March 26, 2022. As of April 1, 2023, the Company has available for tax purposes U.S. federal net operating loss carryforwards (“NOLs”) of approximately $135.5 million expiring 2023 through 2038 and $89.3 million that have an unlimited carryover period. The Company has recognized a full valuation allowance on its domestic and certain foreign net deferred tax assets due to the uncertainty of realization of such assets. The Company recognizes both accrued interest and penalties related to its uncertain tax positions related to intercompany loan interest and potential transfer pricing exposure related to its foreign subsidiaries.