SWEETGREEN, INC., 10-Q filed on 5/8/2026
Quarterly Report
v3.26.1
Cover - shares
 3 Months Ended
Mar. 29, 2026
May 04, 2026
Entity Information [Line Items]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Mar. 29, 2026  
Document Transition Report false  
Entity File Number 001-41069  
Entity Registrant Name SWEETGREEN, INC.  
Entity Incorporation, State or Country Code DE  
Entity Tax Identification Number 27-1159215  
Entity Address, Address Line One 3102 36th Street  
Entity Address, City or Town Los Angeles  
Entity Address, State or Province CA  
Entity Address, Postal Zip Code 90018  
City Area Code 323  
Local Phone Number 990-7040  
Title of 12(b) Security Class A Common Stock  
Trading Symbol SG  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Central Index Key 0001477815  
Amendment Flag false  
Current Fiscal Year End Date --12-27  
Document Fiscal Year Focus 2026  
Document Fiscal Period Focus Q1  
Class A common stock    
Entity Information [Line Items]    
Entity Common Stock, Shares Outstanding   106,934,099
Class B common stock    
Entity Information [Line Items]    
Entity Common Stock, Shares Outstanding   11,893,558
v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 29, 2026
Dec. 28, 2025
Current assets:    
Cash and cash equivalents $ 156,799 $ 89,177
Accounts receivable 7,042 5,166
Inventory 2,586 2,384
Prepaid expenses 7,694 6,381
Current portion of lease acquisition costs 93 93
Assets held for sale 0 25,427
Other current assets 1,099 1,029
Total current assets 175,313 129,657
Operating lease assets 285,810 284,263
Property and equipment, net 318,324 326,903
Goodwill 27,793 27,793
Intangible assets, net 10,240 10,424
Security deposits 1,289 1,316
Lease acquisition costs, net 218 241
Restricted cash 4,184 4,166
Equity investments 86,429 0
Other assets 3,091 3,341
Total assets 912,691 788,104
Current liabilities:    
Current portion of operating lease liabilities 42,226 41,590
Accounts payable 17,426 19,885
Accrued expenses 33,177 33,739
Accrued payroll 9,068 8,143
Gift cards and loyalty liability 7,199 7,177
Liabilities held for sale 0 1,085
Other current liabilities 31 7,033
Total current liabilities 109,127 118,652
Operating lease liabilities, net of current portion 313,867 312,904
Other non-current liabilities 137 149
Deferred income tax liabilities 629 274
Total liabilities 423,760 431,979
COMMITMENTS AND CONTINGENCIES (Note 15)
Stockholders’ equity:    
Common stock, $0.001 par value per share, 2,000,000,000 Class A shares authorized, 106,923,185 and 106,554,859 Class A shares issued and outstanding as of March 29, 2026 and December 28, 2025, respectively; 300,000,000 Class B shares authorized, 11,893,558 and 11,893,558 Class B shares issued and outstanding as of March 29, 2026 and December 28, 2025, respectively 119 118
Additional paid-in capital 1,372,426 1,365,430
Accumulated deficit (883,614) (1,009,423)
Total stockholders’ equity 488,931 356,125
Total liabilities and stockholders’ equity $ 912,691 $ 788,104
v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares
Mar. 29, 2026
Dec. 28, 2025
Common Class A    
Common stock, par value (in dollars per share) $ 0.001 $ 0.001
Common stock, authorized (in shares) 2,000,000,000 2,000,000,000
Common stock, issued (in shares) 106,923,185 106,554,859
Common stock, outstanding (in shares) 106,923,185 106,554,859
Common Class B    
Common stock, par value (in dollars per share) $ 0.001 $ 0.001
Common stock, authorized (in shares) 300,000,000 300,000,000
Common stock, issued (in shares) 11,893,558 11,893,558
Common stock, outstanding (in shares) 11,893,558 11,893,558
v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 29, 2026
Mar. 30, 2025
Revenue $ 161,521 $ 166,304
Restaurant operating costs (exclusive of depreciation and amortization presented separately below):    
Total restaurant operating costs 145,320 136,617
Operating expenses:    
General and administrative 29,267 38,337
Depreciation and amortization 18,629 17,106
Pre-opening costs 1,111 1,696
Impairment and closure costs 636 94
Loss on disposal of property and equipment 399 86
Restructuring charges 505 905
Total operating expenses 50,547 58,224
Loss from operations (34,346) (28,537)
Interest income (1,406) (1,903)
Interest expense 28 0
Gain on disposal of business (160,562) 0
Other expense (income) 7 (1,685)
Net income (loss) before income taxes 127,587 (24,949)
Income tax expense 1,778 90
Net income (loss) $ 125,809 $ (25,039)
Earnings (loss) per share:    
Net loss per share basic (in dollars per share) $ 1.06 $ (0.21)
Net loss per share diluted (in dollars per share) $ 1.05 $ (0.21)
Weighted average shares used in computing net loss per share basic (in shares) 118,664,898 117,307,189
Weighted average shares used in computing net loss per share diluted (in shares) 120,227,213 117,307,189
Food, beverage, and packaging    
Restaurant operating costs (exclusive of depreciation and amortization presented separately below):    
Total restaurant operating costs $ 46,853 $ 43,992
Labor and related expenses    
Restaurant operating costs (exclusive of depreciation and amortization presented separately below):    
Total restaurant operating costs 50,761 48,071
Occupancy and related expenses    
Restaurant operating costs (exclusive of depreciation and amortization presented separately below):    
Total restaurant operating costs 17,767 15,674
Other restaurant operating costs    
Restaurant operating costs (exclusive of depreciation and amortization presented separately below):    
Total restaurant operating costs $ 29,939 $ 28,880
v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ (DEFICIT) EQUITY - USD ($)
Total
Common Stock
Additional Paid-in Capital
Accumulated Deficit
Beginning balance (in shares) at Dec. 29, 2024   117,116,311    
Beginning balance at Dec. 29, 2024 $ 446,145,000 $ 117,000 $ 1,321,386,000 $ (875,358,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Net income (loss) $ (25,039,000)     (25,039,000)
Exercise of stock options (in shares) 210,708 210,708    
Exercise of stock options $ 1,683,000 $ 1,000 1,682,000  
Issuance of common stock related to restricted shares (in shares)   341,116    
Shares repurchased for employee tax withholding (in shares) (9,651)      
Shares repurchased for employee tax withholding $ (256,000)      
Stock-based compensation expense 10,221,000   10,221,000  
Ending balance (in shares) at Mar. 30, 2025   117,658,484    
Ending balance at Mar. 30, 2025 432,754,000 $ 118,000 1,333,033,000 (900,397,000)
Beginning balance (in shares) at Dec. 28, 2025   118,448,417    
Beginning balance at Dec. 28, 2025 356,125,000 $ 118,000 1,365,430,000 (1,009,423,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Net income (loss) $ 125,809,000     125,809,000
Exercise of stock options (in shares) 1,000 1,000    
Exercise of stock options $ 8,000   7,000  
Issuance of common stock related to Spyce milestone achievement (in shares)   242,722    
Issuance of common stock related to Spyce milestone achievement 1,604,000   1,604,000  
Issuance of common stock related to restricted shares (in shares)   124,842    
Shares repurchased for employee tax withholding (in shares)   (238)    
Shares repurchased for employee tax withholding (419,000)   (419,000)  
Stock-based compensation expense 5,804,000   5,804,000  
Ending balance (in shares) at Mar. 29, 2026   118,816,743    
Ending balance at Mar. 29, 2026 $ 488,931,000 $ 119,000 $ 1,372,426,000 $ (883,614,000)
v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 29, 2026
Mar. 30, 2025
Cash flows from operating activities:    
Net income (loss) $ 125,809 $ (25,039)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation and amortization 18,629 17,106
Amortization of lease acquisition 24 23
Amortization of cloud computing arrangements 275 242
Non-cash operating lease cost 9,290 8,341
Loss on disposal of property and equipment 399 86
Stock-based compensation 5,804 10,221
Non-cash impairment and closure costs 192 26
Non-cash restructuring charges 227 221
Deferred income tax expense 357 90
Change in fair value of contingent consideration liability 0 (1,685)
Gain on disposal of business (161,161) 0
Changes in operating assets and liabilities:    
Accounts receivable (1,876) (2,878)
Inventory (202) (131)
Prepaid expenses and other current assets (1,357) 473
Operating lease liabilities (9,656) (14,764)
Accounts payable (632) (948)
Accrued payroll and benefits 925 (5,522)
Accrued expenses and other current liabilities 1,173 725
Gift card and loyalty liability 22 291
Contingent consideration liability (5,396) 0
Other non-current liabilities (9) (6)
Net cash used in operating activities (17,163) (13,128)
Cash flows from investing activities:    
Purchase of property and equipment (12,395) (16,732)
Purchase of intangible assets (2,417) (2,500)
Security and landlord deposits 26 100
Proceeds from disposal of business 100,000 0
Net cash provided by (used in) investing activities 85,214 (19,132)
Cash flows from financing activities:    
Proceeds from stock option exercise 8 1,683
Payment associated to shares repurchased for tax withholding (419) (256)
Net cash (used in) provided by financing activities (411) 1,427
Net change in cash and cash equivalents and restricted cash 67,640 (30,833)
Cash and cash equivalents and restricted cash—beginning of year 93,343 217,429
Cash and cash equivalents and restricted cash—end of period 160,983 186,596
Cash paid for interest 28 0
Supplemental disclosure of cash flow information    
Purchase of property and equipment accrued in accounts payable and accrued expenses 6,643 9,112
Series C Preferred Stock of Wonder Group, Inc. as partial consideration for the Spyce sale $ 86,429 $ 0
v3.26.1
NATURE OF OPERATIONS AND BASIS OF PRESENTATION
 3 Months Ended
Mar. 29, 2026
Accounting Policies [Abstract]  
NATURE OF OPERATIONS AND BASIS OF PRESENTATION NATURE OF OPERATIONS AND BASIS OF PRESENTATION
Sweetgreen, Inc., a Delaware corporation, together with its wholly owned subsidiaries (the “Company”), is a mission-driven, next generation restaurant and lifestyle brand that serves healthy food at scale. As of March 29, 2026, the Company owned and operated 285 restaurants in 24 states and Washington, D.C. During the thirteen weeks ended March 29, 2026, the Company had 4 Net New Restaurant Openings. The Company’s operations are conducted as one operating segment and one reportable segment. Additional details on the nature of the Company’s business and its reportable operating segment is included in Note 16, “Reportable Segment”.

The Company has prepared the accompanying unaudited condensed consolidated financial statements in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial statements and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all adjustments consisting of normal recurring adjustments necessary for a fair presentation of the Company’s financial position and results of operations. Interim results of operations are not necessarily indicative of the results that may be achieved for the full year. The Company’s fiscal year is a 52- or 53-week period that ends on the Sunday closest to the last day of December.

A description of the Company’s accounting policies and other financial information is included in the audited consolidated financial statements filed with the SEC on Form 10-K for the fiscal year ended December 28, 2025. The financial statements and related disclosures in the accompanying unaudited interim condensed consolidated financial statements and footnotes do not include all information and footnotes required by GAAP for annual reports and should be read in conjunction with the Annual Report on Form 10-K.

The Company had no components of other comprehensive income (loss) during the periods presented, and accordingly, comprehensive income (loss) equaled net income (loss).

Restricted Cash—As of March 29, 2026 and December 28, 2025 the Company’s restricted cash balance was related to cash collateral for letters of credit associated with the Company’s workers’ compensation insurance policy and letters of credit to lease agreements.

The reconciliation of cash and cash equivalents and restricted cash presented in the Company’s accompanying condensed consolidated balance sheets to the total amount shown in its condensed consolidated statements of cash flows is as follows:
(dollar amounts in thousands)
As of March 29,
2026		As of December 28,
2025
Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents$156,799 $89,177 
Restricted cash, noncurrent
4,1844,166 
Total cash, cash equivalents and restricted cash shown on statements of cash flows
$160,983$93,343
Update to Accounting Policies

Beginning in the first quarter of 2026, the Company started using its historical stock price to calculate expected volatility for stock option grants, as sufficient company-specific trading history was deemed available. Prior to 2026, the Company elected to use an approximation based on the volatility of other comparable public companies which compete directly with the Company as there was not sufficient share price history that extended through the expected term of the options given the timing of the IPO in 2021.

Recently Issued Accounting Pronouncements Not Yet Adopted
In November 2024, the FASB issued ASU No. 2024-03, "Disaggregation of Income Statement Expenses (Subtopic 220-40)." The ASU requires public entities to disaggregate, in a tabular presentation, certain income statement expenses into different categories, such as purchases of inventory, employee compensation, depreciation, and intangible asset amortization. The guidance is effective for fiscal years beginning after December 15, 2026, with early adoption permitted, and may be applied retrospectively. The Company is currently evaluating the impact of adopting this ASU on its consolidated financial statements and related disclosures.

In September 2025, the FASB issued ASU 2025-06, “Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software”, which modernizes the accounting for internal-use software costs by removing all references to prescriptive and sequential software development stages. The new standard uses a probable-to-complete threshold, which requires entities to consider whether significant development uncertainty has been resolved before starting to capitalize software costs and aligns disclosure requirements with ASC 360, Property, Plant, and Equipment. With this new guidance, public companies shall begin capitalizing when both a.) management has authorized and committed funding to the project and b.) it is probable that the project will be completed and software will be used as intended. The guidance is effective for annual and interim reporting periods beginning after December 15, 2027, and may be applied prospectively, retrospectively, or using a modified transition approach, with early adoption permitted. The Company is currently evaluating the impacts of adopting this ASU on its consolidated financial statements and related disclosures.

The Company reviewed all other recently issued accounting pronouncements and concluded that they were either not applicable or not expected to have a significant impact to the condensed consolidated financial statements.
v3.26.1
REVENUE RECOGNITION
 3 Months Ended
Mar. 29, 2026
Revenue from Contract with Customer [Abstract]  
REVENUE RECOGNITION REVENUE RECOGNITION
The following table presents the Company’s revenue for the thirteen weeks ended March 29, 2026 and March 30, 2025 disaggregated by significant revenue channel:
Thirteen weeks ended
(dollar amounts in thousands)
March 29,
2026		 March 30,
2025
Owned Digital Channels$62,827 $52,984 
In-Store Channel (Non-Digital component)
52,961 66,706 
Marketplace Channel45,733 46,614 
Total Revenue$161,521 $166,304 
Gift Cards

The gift card liability included in gift cards and loyalty liability within the accompanying condensed consolidated balance sheets was as follows:
(dollar amounts in thousands)
As of March 29,
2026		As of December 28,
2025
Gift Card Liability$3,576$3,649
Revenue recognized from the redemption of gift cards that was included in gift card and loyalty liability at the beginning of the year was as follows:
Thirteen weeks ended
(dollar amounts in thousands)
March 29,
2026		 March 30,
2025
Revenue recognized from gift card liability balance at the beginning of the year$374$411
v3.26.1
FAIR VALUE
 3 Months Ended
Mar. 29, 2026
Fair Value Disclosures [Abstract]  
FAIR VALUE FAIR VALUE
The following tables present information about the Company’s financial liabilities measured at fair value on a recurring basis:
Fair Value Measurements as of March 29, 2026Fair Value Measurements as of December 28, 2025
TotalLevel 1Level 2Level 3TotalLevel 1Level 2Level 3
(dollar amounts in thousands)
Contingent consideration— — — — 7,000 — — 7,000 
Total$— $— $— $— $7,000 $— $— $7,000 

The fair value of the contingent consideration was determined based on significant inputs not observable in the market.

In connection with the Company’s acquisition of Spyce Food Co. (“Spyce”) on September 7, 2021, the former equity holders of Spyce were eligible to receive up to $20.0 million (in the form of up to 714,285 additional shares of Class A common stock, calculated based on the initial offering price of the Company’s Class A common stock of $28.00 per share sold in the Company’s initial public offering (“IPO”) (the “Reference Price”)) in contingent consideration upon the achievement of certain performance milestones. Additionally, as of the date of the achievement of any of the three milestones, if the Volume-Weighted Average Price of the Company’s Class A common stock as of such milestone achievement date (“VWAP Price”) is less than the Reference Price, then the Company shall pay to each former equity holder of Spyce, in respect of each share of Class A common stock issued to such holder upon the achievement of such milestone, an amount in cash equal to the delta between the Reference Price and the VWAP Price. The contingent consideration payable upon the achievement of the three milestones was valued using the Monte Carlo method. The analysis considered, among other items, the equity value, the contractual terms of the Spyce merger agreement, potential liquidity event scenarios (prior to the IPO), the Company’s credit-adjusted discount rate, equity volatility, risk-free rate, and the probability that milestone targets required for issuance of shares under the contingent consideration will be achieved.

During the first quarter of fiscal year 2026 the third and final milestone was accelerated upon completion of the sale of Spyce and certain assets relating to the kitchen automation technology known as the “Infinite Kitchen” and other related kitchen automation technology to certain subsidiaries of Wonder Group, Inc. (“Wonder”), resulting in a $7.0 million payment to the former equity holders of Spyce. Of this amount, $1.6 million was issued in the form of Class A common stock, based on the VWAP Price on the milestone achievement date of $6.61, and $5.4 million was paid in cash.

The initial fair value of the contingent consideration at the acquisition date was $16.4 million. Since the acquisition date, the cumulative payments related to the contingent consideration were $30.4 million as of March 29, 2026, of which $8.4 million was issued in the form of Class A common stock and $22.0 million was issued in cash. Payments up to the initial fair value of the contingent consideration were included within
financing activities within the condensed consolidated statements of cash flows if made in cash, or within non-cash financing activities if made in shares. Cumulative payments related to the contingent consideration liability above the initial fair value are included within operating activities within the condensed consolidated statement of cash flows. The liability was fully extinguished as of March 29, 2026 as a result of the third and final milestone payment.

The following table provides a roll forward of the aggregate fair values of the Company’s contingent consideration, for which fair value is determined using Level 3 inputs.
(dollar amounts in thousands)
Contingent Consideration
Balance—December 28, 2025$7,000 
Milestone payment(7,000)
Balance—March 29, 2026$— 

During the thirteen weeks ended March 29, 2026 and March 30, 2025, the Company did not record any impairment charges.
v3.26.1
Investments, Equity Method and Joint Ventures
 3 Months Ended
Mar. 29, 2026
Equity Method Investments and Joint Ventures [Abstract]  
EQUITY INVESTMENT EQUITY INVESTMENT
As of March 29, 2026, the Company held 10,803,620 shares of Series C Preferred Stock of Wonder, received as partial consideration in connection with the Spyce sale (see Note 8). The Company holds a minority interest and does not have significant influence over Wonder. Wonder is a privately held company, and as such, the preferred shares comprising the Company’s investment are illiquid and fair value is not readily determinable. The Company accounts for this investment at cost, less impairments, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or similar investment of the same issuer. For the thirteen weeks ended March 29, 2026, no adjustments have been recognized related to the investment. The investment is included within equity investments on the condensed consolidated balance sheets with a carrying value of $86.4 million as of March 29, 2026.
v3.26.1
PROPERTY AND EQUIPMENT
 3 Months Ended
Mar. 29, 2026
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT PROPERTY AND EQUIPMENT, NET
Property and equipment are stated at cost. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets. Leasehold improvements are amortized using the straight-line method over the shorter of the lease term or estimated useful life. A summary of property and equipment is as follows:
(dollar amounts in thousands)
As of March 29,
2026		As of December 28,
2025
Leasehold improvements
$354,083$347,023
Kitchen equipment
139,372136,136
Furniture and fixtures
51,53250,072
Computers and other equipment
50,86949,541
Assets not yet placed in service
28,35936,691
Total property and equipment
624,215619,463
Less: accumulated depreciation
(305,891)(292,560)
Property and equipment, net
$318,324$326,903
Depreciation expense for the thirteen weeks ended March 29, 2026 and March 30, 2025 was $16.9 million and $14.4 million, respectively.
As of March 29, 2026, the Company had six facilities under construction expected to open during fiscal year 2026. As of December 28, 2025, the Company had 11 facilities under construction, six of which opened in fiscal year 2026 to date. Depreciation commences after a store opens and the related assets are placed in service.
v3.26.1
GOODWILL AND INTANGIBLE ASSETS, NET
 3 Months Ended
Mar. 29, 2026
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND INTANGIBLE ASSETS, NET GOODWILL AND INTANGIBLE ASSETS, NET
During the thirteen weeks ended March 29, 2026, there were no changes in the carrying amount of goodwill of $27.8 million. In connection with the sale of Spyce completed during early fiscal year 2026, the Company allocated $8.2 million of goodwill to the disposal group, which was reflected in the goodwill balance as of December 28, 2025 as the disposal met the criteria for classification as held for sale. See Note 8 for further details.

The following table presents the Company’s intangible assets, net balances:
(dollar amounts in thousands)
As of March 29,
2026		As of December 28,
2025
Internal use software$54,088 $52,524 
Accumulated amortization(43,848)(42,100)
Intangible assets, net
$10,240$10,424

Amortization expense for intangible assets was $1.7 million and $2.7 million for the thirteen weeks ended March 29, 2026 and March 30, 2025, respectively.

Estimated future amortization of internal use software is as follows:
(dollar amounts in thousands)

2026$4,584 
20274,008 
20281,568 
202980 
Total$10,240
v3.26.1
ACCRUED EXPENSES
 3 Months Ended
Mar. 29, 2026
Payables and Accruals [Abstract]  
ACCRUED EXPENSES ACCRUED EXPENSES
Accrued expenses consist of the following:
(dollar amounts in thousands)
As of March 29,
2026		As of December 28,
2025
Accrued general and sales tax$9,818 $6,588 
Fixed asset accrual4,661 7,381 
Accrued settlements and legal fees2,479 3,723 
Accrued delivery fee1,208 969 
Rent deferrals and accrued rent
903 1,036 
Other accrued expenses14,108 14,042 
Total accrued expenses$33,177 $33,739 
v3.26.1
ASSETS HELD FOR SALE AND BUSINESS DISPOSITION
 3 Months Ended
Mar. 29, 2026
Discontinued Operations and Disposal Groups [Abstract]  
ASSETS HELD FOR SALE AND BUSINESS DISPOSITION ASSETS HELD FOR SALE AND BUSINESS DISPOSITION
On November 5, 2025, the Company entered into a definitive agreement to sell Spyce and certain assets relating to the kitchen automation technology known as the “Infinite Kitchen” and other related kitchen automation technology to certain subsidiaries of Wonder.

As of December 28, 2025, the Company classified the Spyce business as held for sale, but determined the disposal did not meet the criteria for classification as discontinued operations. Accordingly, no impairment charges were recognized. On December 29, 2025, the Company completed the sale for total consideration of $186.4 million, made up of cash of $100 million and Series C preferred stock of Wonder with a fair value of $86.4 million. In connection therewith, the Company recorded a pre-tax gain, net of expenses, of $160.6 million for the thirteen weeks ended March 29, 2026. The activity was recognized within gain on disposal of business in the condensed consolidated statements of operations.
At transaction close, the Company entered into an agreement with Wonder to continue to use and deploy Infinite Kitchen technology across the Company’s restaurants as part of an established licensing agreement. Wonder also agreed to provide certain other services to the Company for a transitional period under a supply and service agreement. Expenses associated with these agreements are presented in the respective line items of operating expenses in the condensed consolidated statements of operations.

The following table summarizes the carrying values of the assets and liabilities classified as held for sale in the Company’s condensed consolidated balance sheets as of December 28, 2025:

(dollar amounts in thousands)
As of December 28,
2025
Assets
Prepaid Expenses$72 
Other current assets307 
Operating lease assets562 
Property and equipment, net5,324 
Goodwill8,177 
Intangible assets, net10,935 
Security deposits50 
Total assets held for sale25,427 
Liabilities
Current portion of operating lease liabilities$445 
Operating lease liabilities, net of current portion640 
Total liabilities held for sale1,085 
v3.26.1
LEASES
 3 Months Ended
Mar. 29, 2026
Leases [Abstract]  
LEASES LEASES
The components of lease cost for the thirteen weeks ended March 29, 2026 and March 30, 2025 were as follows:
Thirteen weeks ended
(dollar amounts in thousands)ClassificationMarch 29,
2026		March 30,
2025
Operating lease cost
Occupancy and related expense, General and administrative expense and Pre-opening costs
$15,222 $13,724 
Variable lease cost
Occupancy and related expense and General and administrative expense
3,400 3,138 
Short term lease cost
Occupancy and related expense and General and administrative expense
154 79 
Total lease cost$18,776 $16,941 

Supplemental cash flow information related to leases for the thirteen weeks ended March 29, 2026 and March 30, 2025:
March 29,
2026		March 30,
2025
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases, net of lease incentives$15,920 $19,994 
Right of use assets obtained in exchange for lease obligations:
Operating leases$11,256 $13,448 
v3.26.1
COMMON STOCK
 3 Months Ended
Mar. 29, 2026
Equity [Abstract]  
COMMON STOCK COMMON STOCK
As of March 29, 2026 and December 28, 2025, the Company had reserved shares of common stock for issuance in connection with the following:
As of March 29,
2026		As of December 28,
2025
Options outstanding under the 2009 Stock Plan, 2019 Equity Incentive Plan, Spyce Food Co. 2016 Stock Option Plan and Grant Plan and 2021 Equity Incentive Plan14,612,476 14,070,559 
Shares reserved for achievement of Spyce milestones— 250,000 
Shares reserved for employee stock purchase plan(1)
5,295,815 4,111,331 
RSUs and PSUs outstanding under the 2019 Equity Incentive Plan and 2021 Equity Incentive Plan5,867,424 5,283,226 
Shares available for future issuance under the 2021 Equity Incentive Plan5,394,746 6,652,380 
Total reserved shares of common stock31,170,461 30,367,496 
v3.26.1
STOCK - BASED COMPENSATION
 3 Months Ended
Mar. 29, 2026
Share-Based Payment Arrangement [Abstract]  
STOCK - BASED COMPENSATION STOCK-BASED COMPENSATION
The Company grants stock options (including incentive stock options and non-qualified stock options), restricted stock units ("RSUs"), performance stock units ("PSUs"), and other types of awards under the 2021 Equity Incentive Plan (the "2021 Plan"). No further awards are granted under the Company's 2009 Stock Plan and 2019 Equity Incentive Plan; however, awards outstanding under such plans continue to be governed by their existing terms. Options granted during, or prior to, the thirteen weeks ended March 29, 2026 generally have vesting terms between twelve months and four years and have a contractual life of 10 years.

Stock Options

The Company grants stock options to its employees, as well as nonemployees (including directors and others who provide substantial services to the Company) under the 2021 Plan.

The following table summarizes the Company’s stock option activity for the thirteen weeks ended March 29, 2026 and March 30, 2025:
(dollar amounts in thousands except per share amounts)
Number of
Shares
Weighted
Average
Exercise
Price Per
Share
Weighted-Average
Remaining
Contractual Term
(In Years)
Aggregate
Intrinsic
Value
Balance—December 28, 202514,070,559$10.35 5.30$12,769 
Options granted1,061,8625.31 
Options exercised(1,000)7.26 
Options forfeited(299,997)24.16 
Options expired (218,948)12.81 
Balance—March 29, 202614,612,476$9.66 5.25$3,664 
Exercisable—March 29, 202611,019,364$8.82 3.96$3,664 
Vested and expected to vest—March 29, 202614,612,476$9.66 5.25$3,664 
(dollar amounts in thousands except per share amounts)
Number of
Shares
Weighted
Average
Exercise
Price Per
Share
Weighted-Average
Remaining
Contractual Term
(In Years)
Aggregate
Intrinsic
Value
Balance—December 29, 202413,169,869$9.88 6.04$297,037 
Options granted1,218,04823.80 
Options exercised(210,708)8.03 
Options forfeited(58,903)21.31 
Options expired(18,696)14.10 
Balance—March 30, 202514,099,610$11.06 6.16$207,895 
Exercisable—March 30, 202510,171,502$7.95 5.05$179,084 
Vested and expected to vest—March 30, 202514,099,610$11.06 6.16$207,895 
The weighted-average fair value of options granted during the thirteen weeks ended March 29, 2026 and March 30, 2025 was $3.70 and $11.99, respectively.
The fair value of each option granted has been estimated as of the date of the grant using the Black-Scholes option-pricing model. The Company has elected to account for forfeitures as they occur.

During fiscal year 2025, the Company approved a modification to certain stock option awards in connection with the transition of a former executive from an employee to a non-employee consultant. The modification provided for (i) accelerated vesting of unvested awards, (ii) continued vesting of certain awards during the consulting period, and (iii) an extension of the post-termination exercise period, pertaining to a total of 924,097 options. The incremental expense related to each modified option has been estimated as of the modification date using the Black-Scholes option-pricing model and will be recognized as additional stock-based compensation expense over the remaining requisite service period. For the thirteen weeks ended March 29, 2026, the Company recognized the remaining $1.4 million of incremental expense related to this modification, which was recorded within total stock-based compensation expense for the period.

As of March 29, 2026, there was $19.4 million in unrecognized compensation expense related to unvested stock-based compensation arrangements and is expected to be recognized over a weighted average period of 2.41 years.

Restricted Stock Units and Performance Stock Units

Restricted stock units

The following table summarizes the Company’s RSU activity for the thirteen weeks ended March 29, 2026 and March 30, 2025:

(dollar amounts in thousands except per share amounts)
Number of SharesWeighted-Average Grant Date Fair Value
Balance—December 28, 2025
783,226 $12.71 
   Granted740,958 5.32 
   Released(124,842)15.87 
   Forfeited(31,918)24.17 
Balance—March 29, 2026
1,367,424 $8.15 
(dollar amounts in thousands except per share amounts)
Number of SharesWeighted-Average Grant Date Fair Value
Balance—December 29, 2024
910,024 $17.72 
   Granted181,377 23.59 
   Released(341,116)20.56 
   Forfeited(13,084)20.24 
Balance—March 30, 2025
737,201 $17.81 



During fiscal year 2025, the Company approved a modification to certain restricted stock units awards in connection with the transition of a former executive from an employee to a non-employee consultant. The modification provided for (i) continued vesting of certain awards during the consulting period and (ii) immediate vesting of any remaining unvested restricted stock units at the completion of the consulting period. The fair value of each modified RSU has been estimated using the current stock price as of the modification date. The incremental expense was recognized as additional stock-based compensation expense over the remaining requisite service period. For the thirteen weeks ended March 29, 2026, the Company recognized the remaining $0.2 million of incremental expense related to this RSU modification, which was recorded within total stock-based compensation expense for the period.

The fair value of shares released as of the vesting date during the thirteen weeks ended March 29, 2026 was $0.7 million. As of March 29, 2026, unrecognized compensation expense related to RSUs was $9.4 million and is expected to be recognized over a weighted average period of 2.82 years.

Performance stock units

In October 2021, the Company granted 2,100,000 PSUs to each founder (the “founder PSUs”) for a total of 6,300,000 PSUs, under the 2019 Equity Incentive Plan. The founder PSUs vest upon the satisfaction of a service condition and the achievement of certain stock price goals. As of March 29, 2026 all compensation expense related to the founder PSUs was fully recognized.

As of December 28, 2025, there were 4,500,000 performance stock units outstanding with a weighted-average grant date fair value of $15.62. There was no PSU activity during both of the thirteen weeks ended March 29, 2026 and March 30, 2025.

A summary of stock-based compensation expense recognized during the thirteen weeks ended March 29, 2026 and March 30, 2025 is as follows:

Thirteen weeks ended
(dollar amounts in thousands)March 29,
2026		March 30,
2025
Stock-options$3,641 $2,618 
Restricted stock units1,504 4,208 
Performance stock units659 3,395 
Total stock-based compensation$5,804 $10,221 
v3.26.1
INCOME TAXES
 3 Months Ended
Mar. 29, 2026
Income Tax Disclosure [Abstract]  
INCOME TAXES INCOME TAXES
For the thirteen weeks ended March 29, 2026, the Company calculated the tax provision using a discrete effective tax rate method. The Company’s effective tax rate for the thirteen weeks ended March 29, 2026 was 1.4%, which was lower than the U.S. statutory rate of 21.0%, primarily due to the valuation allowance recorded against the Company’s net deferred tax assets, offset by state income tax.
As of March 29, 2026, the Company had a net deferred tax liability balance of $0.6 million, compared to $0.3 million as of December 28, 2025.
v3.26.1
EARNINGS (LOSS) PER SHARE
 3 Months Ended
Mar. 29, 2026
Earnings Per Share [Abstract]  
EARNINGS (LOSS) PER SHARE EARNINGS (LOSS) PER SHARE
During the thirteen weeks ended March 29, 2026 and March 30, 2025, the rights, including the liquidation and dividend rights, of the holders of Class A and Class B common stock were identical, except with respect to voting. As the liquidation and dividend rights were identical, the undistributed earnings were allocated on a proportionate basis and the resulting net earnings (loss) per share attributable to common stockholders were, therefore, the same for both Class A and Class B common stock on an individual or combined basis.

The following table sets forth the computation of earnings (loss) per common share:
Thirteen weeks ended
(dollar amounts in thousands)March 29,
2026		March 30,
2025
Net income (loss)
$125,809 $(25,039)
Weighted-average common shares outstanding—basic
118,664,898 117,307,189 
Dilutive stock awards
1,562,315 — 
Weighted-average common shares outstanding—diluted
120,227,213 117,307,189 
Earnings (loss) per share—basic
$1.06 $(0.21)
Earnings (loss) per share—diluted
$1.05 $(0.21)

The Company excluded the following potential common shares, presented based on amounts outstanding at each period end, from the computation of diluted earnings (loss) per share because including them would have had an anti-dilutive effect:
Thirteen weeks ended
March 29,
2026		March 30,
2025
Options to purchase common stock10,652,168 14,099,610 
Time-based vesting restricted stock units589,982 737,201 
Performance stock units4,500,000 4,500,000 
Contingently issuable stock— 500,000 
Total common stock equivalents15,742,150 19,836,811 
v3.26.1
RELATED-PARTY TRANSACTIONS
 3 Months Ended
Mar. 29, 2026
Related Party Transactions [Abstract]  
RELATED-PARTY TRANSACTIONS RELATED-PARTY TRANSACTIONS
The Company’s founders each hold an indirect minority passive interest in Luzzatto Opportunity Fund II, LLC, an entity which holds indirect equity interests in Welcome to the Dairy, LLC, which is the owner of the properties leased by the Company for the Company’s principal corporate headquarters. For the thirteen weeks ended March 29, 2026 and March 30, 2025, total payments to Welcome to the Dairy, LLC, totaled $1.2 million and $1.5 million, respectively.
v3.26.1
COMMITMENTS AND CONTINGENCIES
 3 Months Ended
Mar. 29, 2026
Commitments and Contingencies Disclosure [Abstract]  
COMMITMENTS AND CONTINGENCIES COMMITMENTS AND CONTINGENCIES
Lease Commitments

The Company is obligated under various operating leases related to its office facilities, restaurant locations, and certain equipment under non-cancelable operating leases that expire on various dates. Under certain of these leases, the Company is liable for contingent rent based on a percentage of sales in excess of specified thresholds and typically responsible for its proportionate share of real estate taxes, common area maintenance charges, and other occupancy costs. Refer to Note 9, Leases, for additional information.

Purchase Obligations
Purchase obligations include agreements to purchase goods or services that are enforceable and legally binding on us and that specify all significant terms. The majority of the Company’s purchase obligations relate to amounts owed for supplies within its restaurants and are due within the next twelve months.

Legal Contingencies

The Company is subject to various claims, lawsuits, governmental investigations and administrative proceedings that arise in the ordinary course of business. The Company does not believe that the ultimate resolution of any of these matters will have a material effect on the Company’s financial position, results of operations, liquidity, or capital resources. However, an increase in the number of these claims, or one or more successful claims under which the Company incurs greater liabilities than the Company currently anticipates, could materially and adversely affect the Company’s business, financial position, results of operations, and cash flows.
v3.26.1
Segment Reporting
 3 Months Ended
Mar. 29, 2026
Segment Reporting [Abstract]  
REPORTABLE SEGMENT REPORTABLE SEGMENT
The Company operates as one operating segment and one reportable segment, generating revenue from retail sales of food and beverages by company-owned restaurants within the United States. The Company’s chief operating decision maker (“CODM”) is the chief executive officer. Segment information is prepared and managed on the same basis as described in the Company’s Annual Report on Form 10-K for the year ended December 28, 2025. The Company’s assets are managed centrally and are reported internally in the same manner as the condensed consolidated financial statements, and thus, no additional information is disclosed herein.

Other than certain disaggregated expense information provided in relation to General and Administrative expense (“G&A”), significant expenses regularly provided to the CODM are presented on the face of the statement of operations. The CODM is also regularly provided disaggregated expense information for G&A, which is disaggregated between operating support center cost, stock-based compensation, all of which was included within G&A (see Note 11), and other expenses, as shown below:

Thirteen weeks ended
March 29,
2026		March 30,
2025
General and administrative
Operating support center cost(1)
$23,176 $27,706 
Stock-based compensation5,804 10,221 
Other expenses(2)
287 410 
Total General and administrative$29,267 $38,337 
(1)Operating support center costs consist primarily of operations, technology, finance, legal, human resources, administrative personnel, and other personnel costs that support restaurant development and operations, as well as brand-related marketing.
(2)Other expense typically includes expenses recorded for accruals related to legal settlements, amortization costs associated with the implementation of the Company’s Enterprise Resource Planning system, and other costs associated with other one-time initiatives.
v3.26.1
Insider Trading Arrangements
 3 Months Ended
Mar. 29, 2026
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.26.1
NATURE OF OPERATIONS AND BASIS OF PRESENTATION (Policies)
 3 Months Ended
Mar. 29, 2026
Accounting Policies [Abstract]  
Restricted Cash
Restricted Cash—As of March 29, 2026 and December 28, 2025 the Company’s restricted cash balance was related to cash collateral for letters of credit associated with the Company’s workers’ compensation insurance policy and letters of credit to lease agreements.
Recently Issued Accounting Pronouncements Not Yet Adopted
Recently Issued Accounting Pronouncements Not Yet Adopted
In November 2024, the FASB issued ASU No. 2024-03, "Disaggregation of Income Statement Expenses (Subtopic 220-40)." The ASU requires public entities to disaggregate, in a tabular presentation, certain income statement expenses into different categories, such as purchases of inventory, employee compensation, depreciation, and intangible asset amortization. The guidance is effective for fiscal years beginning after December 15, 2026, with early adoption permitted, and may be applied retrospectively. The Company is currently evaluating the impact of adopting this ASU on its consolidated financial statements and related disclosures.

In September 2025, the FASB issued ASU 2025-06, “Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software”, which modernizes the accounting for internal-use software costs by removing all references to prescriptive and sequential software development stages. The new standard uses a probable-to-complete threshold, which requires entities to consider whether significant development uncertainty has been resolved before starting to capitalize software costs and aligns disclosure requirements with ASC 360, Property, Plant, and Equipment. With this new guidance, public companies shall begin capitalizing when both a.) management has authorized and committed funding to the project and b.) it is probable that the project will be completed and software will be used as intended. The guidance is effective for annual and interim reporting periods beginning after December 15, 2027, and may be applied prospectively, retrospectively, or using a modified transition approach, with early adoption permitted. The Company is currently evaluating the impacts of adopting this ASU on its consolidated financial statements and related disclosures.

The Company reviewed all other recently issued accounting pronouncements and concluded that they were either not applicable or not expected to have a significant impact to the condensed consolidated financial statements.
v3.26.1
NATURE OF OPERATIONS AND BASIS OF PRESENTATION (Tables)
 3 Months Ended
Mar. 29, 2026
Accounting Policies [Abstract]  
Schedule of Cash and Cash Equivalents
The reconciliation of cash and cash equivalents and restricted cash presented in the Company’s accompanying condensed consolidated balance sheets to the total amount shown in its condensed consolidated statements of cash flows is as follows:
(dollar amounts in thousands)
As of March 29,
2026		As of December 28,
2025
Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents$156,799 $89,177 
Restricted cash, noncurrent
4,1844,166 
Total cash, cash equivalents and restricted cash shown on statements of cash flows
$160,983$93,343
Schedule of Restricted Cash
The reconciliation of cash and cash equivalents and restricted cash presented in the Company’s accompanying condensed consolidated balance sheets to the total amount shown in its condensed consolidated statements of cash flows is as follows:
(dollar amounts in thousands)
As of March 29,
2026		As of December 28,
2025
Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents$156,799 $89,177 
Restricted cash, noncurrent
4,1844,166 
Total cash, cash equivalents and restricted cash shown on statements of cash flows
$160,983$93,343
v3.26.1
REVENUE RECOGNITION (Tables)
 3 Months Ended
Mar. 29, 2026
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregation of Revenue by Significant Revenue Channel
The following table presents the Company’s revenue for the thirteen weeks ended March 29, 2026 and March 30, 2025 disaggregated by significant revenue channel:
Thirteen weeks ended
(dollar amounts in thousands)
March 29,
2026		 March 30,
2025
Owned Digital Channels$62,827 $52,984 
In-Store Channel (Non-Digital component)
52,961 66,706 
Marketplace Channel45,733 46,614 
Total Revenue$161,521 $166,304 
Schedule of Gift Card Liability Included in Gift Card and Loyalty Liability
The gift card liability included in gift cards and loyalty liability within the accompanying condensed consolidated balance sheets was as follows:
(dollar amounts in thousands)
As of March 29,
2026		As of December 28,
2025
Gift Card Liability$3,576$3,649
Revenue recognized from the redemption of gift cards that was included in gift card and loyalty liability at the beginning of the year was as follows:
Thirteen weeks ended
(dollar amounts in thousands)
March 29,
2026		 March 30,
2025
Revenue recognized from gift card liability balance at the beginning of the year$374$411
Changes in the Company’s SG Rewards liability included in gift cards and loyalty liability on the condensed consolidated balance sheets were as follows:
Thirteen weeks ended
(dollar amounts in thousands)
March 29,
2026		 March 30,
2025
SG Rewards liability, beginning balance
$3,528$—
Revenue deferred
4,335—
Revenue recognized
(4,240)—
SG Rewards liability, ending balance
$3,623$—
v3.26.1
FAIR VALUE (Tables)
 3 Months Ended
Mar. 29, 2026
Fair Value Disclosures [Abstract]  
Schedule of Financial Liabilities Measured at Fair Value
The following tables present information about the Company’s financial liabilities measured at fair value on a recurring basis:
Fair Value Measurements as of March 29, 2026Fair Value Measurements as of December 28, 2025
TotalLevel 1Level 2Level 3TotalLevel 1Level 2Level 3
(dollar amounts in thousands)
Contingent consideration— — — — 7,000 — — 7,000 
Total$— $— $— $— $7,000 $— $— $7,000 
Schedule of Fair Values Roll Forward of Contingent Consideration
The following table provides a roll forward of the aggregate fair values of the Company’s contingent consideration, for which fair value is determined using Level 3 inputs.
(dollar amounts in thousands)
Contingent Consideration
Balance—December 28, 2025$7,000 
Milestone payment(7,000)
Balance—March 29, 2026$— 
Schedule of Assets Measured on Recurring Basis
v3.26.1
PROPERTY AND EQUIPMENT (Tables)
 3 Months Ended
Mar. 29, 2026
Property, Plant and Equipment [Abstract]  
Summary of Property and Equipment A summary of property and equipment is as follows:
(dollar amounts in thousands)
As of March 29,
2026		As of December 28,
2025
Leasehold improvements
$354,083$347,023
Kitchen equipment
139,372136,136
Furniture and fixtures
51,53250,072
Computers and other equipment
50,86949,541
Assets not yet placed in service
28,35936,691
Total property and equipment
624,215619,463
Less: accumulated depreciation
(305,891)(292,560)
Property and equipment, net
$318,324$326,903
v3.26.1
GOODWILL AND INTANGIBLE ASSETS, NET (Tables)
 3 Months Ended
Mar. 29, 2026
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Intangible Asset, Net
The following table presents the Company’s intangible assets, net balances:
(dollar amounts in thousands)
As of March 29,
2026		As of December 28,
2025
Internal use software$54,088 $52,524 
Accumulated amortization(43,848)(42,100)
Intangible assets, net
$10,240$10,424
Schedule of Estimated Amortization of Internal Use Software
Estimated future amortization of internal use software is as follows:
(dollar amounts in thousands)

2026$4,584 
20274,008 
20281,568 
202980 
Total$10,240
v3.26.1
ACCRUED EXPENSES (Tables)
 3 Months Ended
Mar. 29, 2026
Payables and Accruals [Abstract]  
Schedule of Accrued Expenses
Accrued expenses consist of the following:
(dollar amounts in thousands)
As of March 29,
2026		As of December 28,
2025
Accrued general and sales tax$9,818 $6,588 
Fixed asset accrual4,661 7,381 
Accrued settlements and legal fees2,479 3,723 
Accrued delivery fee1,208 969 
Rent deferrals and accrued rent
903 1,036 
Other accrued expenses14,108 14,042 
Total accrued expenses$33,177 $33,739 
v3.26.1
Discontinued Operations and Disposal Groups (Tables)
 3 Months Ended
Mar. 29, 2026
Discontinued Operations and Disposal Groups [Abstract]  
Disclosure of Long-Lived Assets Held-for-Sale
The following table summarizes the carrying values of the assets and liabilities classified as held for sale in the Company’s condensed consolidated balance sheets as of December 28, 2025:

(dollar amounts in thousands)
As of December 28,
2025
Assets
Prepaid Expenses$72 
Other current assets307 
Operating lease assets562 
Property and equipment, net5,324 
Goodwill8,177 
Intangible assets, net10,935 
Security deposits50 
Total assets held for sale25,427 
Liabilities
Current portion of operating lease liabilities$445 
Operating lease liabilities, net of current portion640 
Total liabilities held for sale1,085 
v3.26.1
LEASES (Tables)
 3 Months Ended
Mar. 29, 2026
Leases [Abstract]  
Components of Lease Cost
The components of lease cost for the thirteen weeks ended March 29, 2026 and March 30, 2025 were as follows:
Thirteen weeks ended
(dollar amounts in thousands)ClassificationMarch 29,
2026		March 30,
2025
Operating lease cost
Occupancy and related expense, General and administrative expense and Pre-opening costs
$15,222 $13,724 
Variable lease cost
Occupancy and related expense and General and administrative expense
3,400 3,138 
Short term lease cost
Occupancy and related expense and General and administrative expense
154 79 
Total lease cost$18,776 $16,941 

Supplemental cash flow information related to leases for the thirteen weeks ended March 29, 2026 and March 30, 2025:
March 29,
2026		March 30,
2025
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases, net of lease incentives$15,920 $19,994 
Right of use assets obtained in exchange for lease obligations:
Operating leases$11,256 $13,448 
v3.26.1
COMMON STOCK (Tables)
 3 Months Ended
Mar. 29, 2026
Equity [Abstract]  
Schedule of Reserved Shares of Common Stock For Issuance
As of March 29, 2026 and December 28, 2025, the Company had reserved shares of common stock for issuance in connection with the following:
As of March 29,
2026		As of December 28,
2025
Options outstanding under the 2009 Stock Plan, 2019 Equity Incentive Plan, Spyce Food Co. 2016 Stock Option Plan and Grant Plan and 2021 Equity Incentive Plan14,612,476 14,070,559 
Shares reserved for achievement of Spyce milestones— 250,000 
Shares reserved for employee stock purchase plan(1)
5,295,815 4,111,331 
RSUs and PSUs outstanding under the 2019 Equity Incentive Plan and 2021 Equity Incentive Plan5,867,424 5,283,226 
Shares available for future issuance under the 2021 Equity Incentive Plan5,394,746 6,652,380 
Total reserved shares of common stock31,170,461 30,367,496 
(1) On January 1, 2026, shares available for issuance automatically increased by 1,184,484 shares in accordance with the terms of the 2021 Employee Stock Purchase Plan (“ESPP”). No offering period has commenced under the ESPP as of March 29, 2026.
v3.26.1
STOCK - BASED COMPENSATION (Tables)
 3 Months Ended
Mar. 29, 2026
Share-Based Payment Arrangement [Abstract]  
Summary of Stock Option Activity
The following table summarizes the Company’s stock option activity for the thirteen weeks ended March 29, 2026 and March 30, 2025:
(dollar amounts in thousands except per share amounts)
Number of
Shares
Weighted
Average
Exercise
Price Per
Share
Weighted-Average
Remaining
Contractual Term
(In Years)
Aggregate
Intrinsic
Value
Balance—December 28, 202514,070,559$10.35 5.30$12,769 
Options granted1,061,8625.31 
Options exercised(1,000)7.26 
Options forfeited(299,997)24.16 
Options expired (218,948)12.81 
Balance—March 29, 202614,612,476$9.66 5.25$3,664 
Exercisable—March 29, 202611,019,364$8.82 3.96$3,664 
Vested and expected to vest—March 29, 202614,612,476$9.66 5.25$3,664 
(dollar amounts in thousands except per share amounts)
Number of
Shares
Weighted
Average
Exercise
Price Per
Share
Weighted-Average
Remaining
Contractual Term
(In Years)
Aggregate
Intrinsic
Value
Balance—December 29, 202413,169,869$9.88 6.04$297,037 
Options granted1,218,04823.80 
Options exercised(210,708)8.03 
Options forfeited(58,903)21.31 
Options expired(18,696)14.10 
Balance—March 30, 202514,099,610$11.06 6.16$207,895 
Exercisable—March 30, 202510,171,502$7.95 5.05$179,084 
Vested and expected to vest—March 30, 202514,099,610$11.06 6.16$207,895 
Summary of Restricted Stock Units Activity
The following table summarizes the Company’s RSU activity for the thirteen weeks ended March 29, 2026 and March 30, 2025:

(dollar amounts in thousands except per share amounts)
Number of SharesWeighted-Average Grant Date Fair Value
Balance—December 28, 2025
783,226 $12.71 
   Granted740,958 5.32 
   Released(124,842)15.87 
   Forfeited(31,918)24.17 
Balance—March 29, 2026
1,367,424 $8.15 
(dollar amounts in thousands except per share amounts)
Number of SharesWeighted-Average Grant Date Fair Value
Balance—December 29, 2024
910,024 $17.72 
   Granted181,377 23.59 
   Released(341,116)20.56 
   Forfeited(13,084)20.24 
Balance—March 30, 2025
737,201 $17.81 
Summary of Stock-based Compensation Expense
A summary of stock-based compensation expense recognized during the thirteen weeks ended March 29, 2026 and March 30, 2025 is as follows:

Thirteen weeks ended
(dollar amounts in thousands)March 29,
2026		March 30,
2025
Stock-options$3,641 $2,618 
Restricted stock units1,504 4,208 
Performance stock units659 3,395 
Total stock-based compensation$5,804 $10,221 
v3.26.1
EARNINGS (LOSS) PER SHARE (Tables)
 3 Months Ended
Mar. 29, 2026
Earnings Per Share [Abstract]  
Schedule of Computation of Net Loss Per Common Share
The following table sets forth the computation of earnings (loss) per common share:
Thirteen weeks ended
(dollar amounts in thousands)March 29,
2026		March 30,
2025
Net income (loss)
$125,809 $(25,039)
Weighted-average common shares outstanding—basic
118,664,898 117,307,189 
Dilutive stock awards
1,562,315 — 
Weighted-average common shares outstanding—diluted
120,227,213 117,307,189 
Earnings (loss) per share—basic
$1.06 $(0.21)
Earnings (loss) per share—diluted
$1.05 $(0.21)
Schedule of Anti-dilutive Shares Excluded
Thirteen weeks ended
March 29,
2026		March 30,
2025
Options to purchase common stock10,652,168 14,099,610 
Time-based vesting restricted stock units589,982 737,201 
Performance stock units4,500,000 4,500,000 
Contingently issuable stock— 500,000 
Total common stock equivalents15,742,150 19,836,811 
v3.26.1
SEGMENT REPORTING (Tables)
 3 Months Ended
Mar. 29, 2026
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment The CODM is also regularly provided disaggregated expense information for G&A, which is disaggregated between operating support center cost, stock-based compensation, all of which was included within G&A (see Note 11), and other expenses, as shown below:
Thirteen weeks ended
March 29,
2026		March 30,
2025
General and administrative
Operating support center cost(1)
$23,176 $27,706 
Stock-based compensation5,804 10,221 
Other expenses(2)
287 410 
Total General and administrative$29,267 $38,337 
(1)Operating support center costs consist primarily of operations, technology, finance, legal, human resources, administrative personnel, and other personnel costs that support restaurant development and operations, as well as brand-related marketing.
(2)Other expense typically includes expenses recorded for accruals related to legal settlements, amortization costs associated with the implementation of the Company’s Enterprise Resource Planning system, and other costs associated with other one-time initiatives.
v3.26.1
NATURE OF OPERATIONS AND BASIS OF PRESENTATION - Narrative (Details)
$ in Thousands
 3 Months Ended
Mar. 29, 2026
USD ($)
segment
state
restaurant
Dec. 28, 2025
USD ($)
Accounting Policies [Abstract]    
Number of restaurants | restaurant 285  
Number of states | state 24  
Number of restaurants opened | restaurant 4  
Operating segments | segment 1  
Reportable segments | segment 1  
Accounts receivable | $ $ 7,042 $ 5,166
v3.26.1
NATURE OF OPERATIONS AND BASIS OF PRESENTATION - Reconciliation of Cash and Cash Equivalents and Restricted Cash (Details) - USD ($)
$ in Thousands
Mar. 29, 2026
Dec. 28, 2025
Mar. 30, 2025
Dec. 29, 2024
Reconciliation of cash, cash equivalents and restricted cash:        
Cash and cash equivalents $ 156,799 $ 89,177    
Restricted cash, noncurrent 4,184 4,166    
Total cash, cash equivalents and restricted cash shown on statements of cash flows $ 160,983 $ 93,343 $ 186,596 $ 217,429
v3.26.1
REVENUE RECOGNITION - Disaggregation of Revenue (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 29, 2026
Mar. 30, 2025
Disaggregation of Revenue [Line Items]    
Total Revenue $ 161,521 $ 166,304
Owned Digital Channels | Direct    
Disaggregation of Revenue [Line Items]    
Total Revenue 62,827 52,984
In-Store Channel (Non-Digital component) | Direct    
Disaggregation of Revenue [Line Items]    
Total Revenue 52,961 66,706
Marketplace Channel | 3rd party    
Disaggregation of Revenue [Line Items]    
Total Revenue $ 45,733 $ 46,614
v3.26.1
REVENUE RECOGNITION - Schedule of Contract with Customer, Contract Asset, Contract Liability, and Receivable (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 29, 2026
Mar. 30, 2025
Dec. 28, 2025
Disaggregation of Revenue [Line Items]      
Gift Card Liability $ 7,199   $ 7,177
Gift Cards      
Disaggregation of Revenue [Line Items]      
Gift Card Liability 3,576   $ 3,649
Revenue recognized from gift card liability balance at the beginning of the year $ 374 $ 411  
v3.26.1
REVENUE RECOGNITION - Deferred Liability Rollforward (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 29, 2026
Mar. 30, 2025
Contract with customer rollforward    
SG Rewards liability, beginning balance $ 3,623 $ 0
Revenue deferred 4,335 0
Revenue recognized (4,240) 0
SG Rewards liability, ending balance $ 3,528 $ 0
v3.26.1
FAIR VALUE - Schedule of Financial Liabilities Measured at Fair Value (Details) - USD ($)
$ in Thousands
Mar. 29, 2026
Dec. 28, 2025
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Right-of-use assets $ 285,810 $ 284,263
Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Contingent consideration 0 7,000
Total 0 7,000
Recurring | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Contingent consideration 0 0
Total 0 0
Recurring | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Contingent consideration 0 0
Total 0 0
Recurring | Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Contingent consideration 0 7,000
Total $ 0 $ 7,000
v3.26.1
FAIR VALUE - Narrative (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 55 Months Ended
Sep. 07, 2021
Mar. 29, 2026
Mar. 29, 2026
Dec. 28, 2025
Recurring        
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]        
Contingent consideration   $ 0 $ 0 $ 7,000
IPO        
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]        
Shares issued (in dollars per share) $ 28.00      
Spyce        
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]        
Additional shares issued (in shares) 714,285      
Contingent consideration $ 16,400      
Spyce | Maximum        
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]        
Contingent consideration $ 20,000      
Spyce | Former Equity Holders, Additional Equity        
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]        
Business combination, contingent consideration, liability, earnout   $ 7,000    
Business acquisition, share price (in dollars per share)   $ 6.61 $ 6.61  
Business combination, contingent consideration, liability, equity interests issued and issuable, earnout   $ 1,600    
Business combination, contingent consideration, liability, cash, earnout   $ 5,400    
Spyce | Former Equity Holders, Additional Equity | Milestone One        
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]        
Business combination, contingent consideration, liability, equity interests issued and issuable, earnout     $ 8,400  
Business combination, contingent consideration, liability, cash, earnout     22,000  
Spyce | Former Equity Holders, Additional Equity | Milestone Two        
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]        
Business combination, contingent consideration, liability, earnout     $ 30,400  
v3.26.1
FAIR VALUE - Schedule of Fair Values Roll Forward of Contingent Consideration (Details)
$ in Thousands
 3 Months Ended
Mar. 29, 2026
USD ($)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]  
Milestone payment $ (7,000)
Level 3 | Contingent consideration  
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]  
Beginning Balance 7,000
Ending Balance $ 0
v3.26.1
Investments, Equity Method and Joint Ventures (Details) - USD ($)
$ in Thousands
Mar. 29, 2026
Dec. 28, 2025
Equity Method Investments and Joint Ventures [Abstract]    
Shares owned of Wonder Group 10,803,620  
Value of investment in Wonder Group $ 86,429 $ 0
v3.26.1
PROPERTY AND EQUIPMENT - Summary of Property and Equipment (Details) - USD ($)
$ in Thousands
Mar. 29, 2026
Dec. 28, 2025
Property, Plant and Equipment [Line Items]    
Total property and equipment $ 624,215 $ 619,463
Less: accumulated depreciation (305,891) (292,560)
Property and equipment, net 318,324 326,903
Kitchen equipment    
Property, Plant and Equipment [Line Items]    
Total property and equipment 139,372 136,136
Computers and other equipment    
Property, Plant and Equipment [Line Items]    
Total property and equipment 50,869 49,541
Furniture and fixtures    
Property, Plant and Equipment [Line Items]    
Total property and equipment 51,532 50,072
Leasehold improvements    
Property, Plant and Equipment [Line Items]    
Total property and equipment 354,083 347,023
Assets not yet placed in service    
Property, Plant and Equipment [Line Items]    
Total property and equipment $ 28,359 $ 36,691
v3.26.1
PROPERTY AND EQUIPMENT - Narrative (Details)
$ in Millions
 3 Months Ended 12 Months Ended
Mar. 29, 2026
USD ($)
Mar. 30, 2025
USD ($)
Dec. 28, 2025
Property, Plant and Equipment [Abstract]      
Depreciation expense $ 16.9 $ 14.4  
Number of facilities under construction 6   11
Number of facilities under construction opened in current year     6
v3.26.1
GOODWILL AND INTANGIBLE ASSETS, NET - Narrative (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 29, 2026
Mar. 30, 2025
Dec. 28, 2025
Indefinite-lived Intangible Assets [Line Items]      
Goodwill $ 27,793   $ 27,793
Goodwill included in disposal group 8,200   $ 8,177
Amortization expense for intangible assets 275 $ 242  
Software and Software Development Costs      
Indefinite-lived Intangible Assets [Line Items]      
Amortization expense for intangible assets $ 1,700 $ 2,700  
v3.26.1
GOODWILL AND INTANGIBLE ASSETS, NET - Intangible Asset, Net (Details) - USD ($)
$ in Thousands
Mar. 29, 2026
Dec. 28, 2025
Indefinite-lived Intangible Assets [Line Items]    
Accumulated amortization $ (43,848) $ (42,100)
Intangible assets, net 10,240 10,424
Internal use software    
Indefinite-lived Intangible Assets [Line Items]    
Total intangible assets $ 54,088 $ 52,524
v3.26.1
GOODWILL AND INTANGIBLE ASSETS, NET - Estimated Amortization of Internal Use Software (Details) - USD ($)
$ in Thousands
Mar. 29, 2026
Dec. 28, 2025
Goodwill and Intangible Assets Disclosure [Abstract]    
2026 $ 4,584  
2027 4,008  
2028 1,568  
2029 80  
Intangible assets, net $ 10,240 $ 10,424
v3.26.1
ACCRUED EXPENSES (Details) - USD ($)
$ in Thousands
Mar. 29, 2026
Dec. 28, 2025
Payables and Accruals [Abstract]    
Accrued general and sales tax $ 9,818 $ 6,588
Fixed asset accrual 4,661 7,381
Accrued settlements and legal fees 2,479 3,723
Rent deferrals and accrued rent 903 1,036
Accrued delivery fee 1,208 969
Other accrued expenses 14,108 14,042
Total accrued expenses $ 33,177 $ 33,739
v3.26.1
ASSETS HELD FOR SALE AND BUSINESS DISPOSITION - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Mar. 29, 2026
Dec. 28, 2025
Discontinued Operations and Disposal Groups [Abstract]    
Consideration of sale   $ 186.4
Proceeds from sale   100.0
Implied value of disposal   $ 86.4
Gain on disposal (before tax) $ (160.6)  
v3.26.1
ASSETS HELD FOR SALE AND BUSINESS DISPOSITION (Details) - USD ($)
$ in Thousands
Mar. 29, 2026
Dec. 28, 2025
Assets    
Prepaid Expenses   $ 72
Other current assets   307
Operating lease assets   562
Property and equipment, net   5,324
Goodwill $ 8,200 8,177
Intangible assets, net   10,935
Security deposits   50
Total assets held for sale   25,427
Liabilities    
Current portion of operating lease liabilities   445
Operating lease liabilities, net of current portion   640
Total liabilities held for sale   $ 1,085
v3.26.1
LEASES - Lease Cost (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 29, 2026
Mar. 30, 2025
Leases [Abstract]    
Operating lease cost $ 15,222 $ 13,724
Variable lease cost 3,400 3,138
Short term lease cost 154 79
Total lease cost $ 18,776 $ 16,941
v3.26.1
LEASES - Supplemental Cash Flow Information (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 29, 2026
Mar. 30, 2025
Cash paid for amounts included in the measurement of lease liabilities:    
Operating cash flows from operating leases, net of lease incentives $ 15,920 $ 19,994
Right of use assets obtained in exchange for lease obligations:    
Operating leases $ 11,256 $ 13,448
v3.26.1
COMMON STOCK (Details) - shares
Jan. 01, 2026
Mar. 29, 2026
Dec. 28, 2025
Class of Stock [Line Items]      
Total reserved shares of common stock   31,170,461 30,367,496
Common stock increase (in shares) 1,184,484    
Shares available for future issuance under the 2021 Equity Incentive Plan      
Class of Stock [Line Items]      
Total reserved shares of common stock   5,394,746 6,652,380
Shares reserved for achievement of Spyce milestones      
Class of Stock [Line Items]      
Total reserved shares of common stock   0 250,000
Stock Options      
Class of Stock [Line Items]      
Total reserved shares of common stock   14,612,476 14,070,559
Employee Stock      
Class of Stock [Line Items]      
Total reserved shares of common stock   5,295,815 4,111,331
Restricted Stock Units And Performance Share Units      
Class of Stock [Line Items]      
Total reserved shares of common stock   5,867,424 5,283,226
v3.26.1
STOCK - BASED COMPENSATION - Narrative (Details) - USD ($)
$ / shares in Units, $ in Thousands
 1 Months Ended 3 Months Ended
Oct. 31, 2021
Mar. 29, 2026
Mar. 30, 2025
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Total stock-based compensation   $ 5,804 $ 10,221
Weighted average grant date fair value of options (in dollars per share)   $ 3.70 $ 11.99
Options modified   924,097  
Stock Options      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Contractual life   10 years  
Total stock-based compensation   $ 3,641 $ 2,618
Incremental cost   1,400  
Unrecognized compensation expense   $ 19,400  
Expected period for recognition   2 years 4 months 28 days  
PSUs      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Total stock-based compensation   $ 659 3,395
Shares granted (in shares) 6,300,000    
Outstanding shares   4,500,000  
PSUs | Founder One      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Shares granted (in shares) 2,100,000    
PSUs | Founder Two      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Shares granted (in shares) 2,100,000    
PSUs | Founder Three      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Shares granted (in shares) 2,100,000    
RSUs      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Total stock-based compensation   $ 1,504 $ 4,208
Incremental cost   200  
Unrecognized compensation expense   $ 9,400  
Expected period for recognition   2 years 9 months 25 days  
Fair value of shares earned   $ 700  
Shares granted (in shares)   740,958 181,377
Minimum | Stock Options      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Vesting period   12 months  
Maximum | Stock Options      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Vesting period   4 years  
v3.26.1
STOCK - BASED COMPENSATION - Summary of Stock Option Activity (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 9 Months Ended
Mar. 29, 2026
Mar. 30, 2025
Sep. 28, 2025
Sep. 29, 2024
Dec. 28, 2025
Dec. 29, 2024
Number of Shares            
Beginning Balance (in shares) 14,070,559 13,169,869 13,169,869      
Options granted (in shares) 1,061,862 1,218,048        
Options exercised (in shares) (1,000) (210,708)        
Options forfeited (in shares) (299,997) (58,903)        
Options expired (in shares) (218,948) (18,696)        
Ending Balance (in shares) 14,612,476 14,099,610        
Options exercisable, Number of shares (in shares) 11,019,364 10,171,502        
Options vested and expected to vest, Number of shares (in shares) 14,612,476 14,099,610        
Weighted Average Exercise Price Per Share            
Beginning Balance (in dollars per share) $ 10.35 $ 9.88 $ 9.88      
Options granted (in dollars per share) 5.31 23.80        
Options exercised (in dollars per share) 7.26 8.03        
Options forfeited (in dollars per share) 24.16 21.31        
Options expired (in dollars per share) 12.81 14.10        
Ending Balance (in dollars per share) 9.66 11.06        
Options exercisable, Weighted average exercise price per share (in dollars per share) 8.82 7.95        
Options vested and expected to vest, Weighted average exercise price per share (in dollars per share) $ 9.66 $ 11.06        
Stock Options Additional Disclosures            
Options outstanding, Weighted average remaining contractual term 5 years 3 months 6 years 1 month 28 days 5 years 3 months 18 days 6 years 14 days    
Options exercisable, Weighted average remaining contractual term 3 years 11 months 15 days 5 years 18 days        
Options vested and expected to vest, Weighted average remaining contractual term 5 years 3 months 6 years 1 month 28 days        
Options outstanding, Aggregate intrinsic value $ 3,664 $ 207,895     $ 12,769 $ 297,037
Options exercisable, Aggregate intrinsic value 3,664 179,084        
Options vested and expected to vest, Aggregate intrinsic value $ 3,664 $ 207,895        
v3.26.1
STOCK - BASED COMPENSATION - Summary of Restricted Stock Units and Performance Stock Units Activity (Details) - $ / shares
 1 Months Ended 3 Months Ended 12 Months Ended
Oct. 31, 2021
Mar. 29, 2026
Mar. 30, 2025
Dec. 28, 2025
RSUs        
Number of Shares        
Outstanding at beginning of year (in shares)   783,226 910,024 910,024
Granted (in shares)   740,958 181,377  
Released (in shares)   (124,842) (341,116)  
Forfeited (in shares)   (31,918) (13,084)  
Outstanding at end of year (in shares)   1,367,424 737,201 783,226
Weighted-Average Grant Date Fair Value        
Outstanding at beginning of year (in dollars per share)   $ 12.71 $ 17.72 $ 17.72
Granted (in dollars per share)   5.32 23.59  
Released (in dollars per share)   15.87 20.56  
Forfeited (in dollars per share)   24.17 20.24  
Outstanding at end of year (in dollars per share)   $ 8.15 $ 17.81 12.71
PSUs        
Number of Shares        
Granted (in shares) 6,300,000      
Weighted-Average Grant Date Fair Value        
Forfeited (in dollars per share)       $ 15.62
v3.26.1
STOCK - BASED COMPENSATION - Summary of Stock-based Compensation Expense (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 29, 2026
Mar. 30, 2025
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Total stock-based compensation $ 5,804 $ 10,221
Stock-options    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Total stock-based compensation 3,641 2,618
Restricted stock units    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Total stock-based compensation 1,504 4,208
Performance stock units    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Total stock-based compensation $ 659 $ 3,395
v3.26.1
INCOME TAXES (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 29, 2026
Dec. 28, 2025
Income Tax Disclosure [Abstract]    
Effective income tax rate, (percent) 1.40%  
Deferred tax liabilities $ 0.6 $ 0.3
v3.26.1
EARNINGS (LOSS) PER SHARE - Computation of Net Loss Per Common Share (Details) - USD ($)
 3 Months Ended
Mar. 29, 2026
Mar. 30, 2025
Earnings Per Share [Abstract]    
Net income (loss) $ 125,809,000 $ (25,039,000)
Weighted-average common shares outstanding—basic (in shares) 118,664,898 117,307,189
Dilutive Securities, Effect on Basic Earnings Per Share $ 1,562,315 $ 0
Weighted-average common shares outstanding— diluted (in shares) 120,227,213 117,307,189
Earnings per share—basic (in dollars per share) $ 1.06 $ (0.21)
Earnings per share—diluted (in dollars per share) $ 1.05 $ (0.21)
v3.26.1
EARNINGS (LOSS) PER SHARE - Schedule of Anti-dilutive Shares Excluded (Details) - shares
 3 Months Ended
Mar. 29, 2026
Mar. 30, 2025
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Total common stock equivalents 15,742,150 19,836,811
Options to purchase common stock    
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Total common stock equivalents 10,652,168 14,099,610
Time-based vesting restricted stock units    
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Total common stock equivalents 589,982 737,201
Performance stock units    
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Total common stock equivalents 4,500,000 4,500,000
Contingently issuable stock    
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Total common stock equivalents 0 500,000
v3.26.1
RELATED-PARTY TRANSACTIONS (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 29, 2026
Mar. 30, 2025
Related Party | Dairy, LLC | Chief Financial Officer    
Related Party Transaction [Line Items]    
Payments to related parties $ 1.2 $ 1.5
v3.26.1
SEGMENT REPORTING (Details)
$ in Thousands
 3 Months Ended
Mar. 29, 2026
USD ($)
segment
Mar. 30, 2025
USD ($)
Segment Reporting, Asset Reconciling Item [Line Items]    
Operating segments | segment 1  
Reportable segments | segment 1  
Total stock-based compensation $ 5,804 $ 10,221
Total General and administrative 29,267 38,337
Reportable Segment    
Segment Reporting, Asset Reconciling Item [Line Items]    
Operating support center cost 23,176 27,706
Total stock-based compensation 5,804 10,221
Other expenses 287 410
Total General and administrative $ 29,267 $ 38,337