v3.24.3
Segment Reporting
 9 Months Ended
Sep. 28, 2024
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
The Company provides its principal products and services through one reportable segment: Owned & Host. The “Corporate/Other” category includes the results of operations of our other operating segments, as well as corporate overhead support. Revenues from the Corporate/Other category are attributable to our dedicated e-commerce website and FirstSight operations. Our dedicated e-commerce website was previously managed by AC Lens and was transitioned to NVI. FirstSight sells single-service health plans in connection with the operations of America’s Best operations in California. The “Reconciliations” category represents other adjustments to reportable segment results necessary for the presentation of consolidated financial results in accordance with U.S. GAAP. Our former Legacy reportable segment and certain other results previously included in the Corporate/Other and Reconciliations categories met the requirements to be classified as discontinued operations. Refer to Note 2. “Discontinued Operations” for information related to our discontinued operations.
Our reportable segment profit measure is earnings before interest, tax, depreciation and amortization (“EBITDA”) or net revenue, less costs applicable to revenue, less SG&A expenses. Depreciation and amortization, asset impairment, and other corporate costs that are not allocated to the reportable segment, including interest expense (income), net are excluded from segment EBITDA. There are no differences between the measurement of our reportable segment’s assets and consolidated assets. There have been no changes from prior periods in the measurement methods used to determine reportable segment profit or loss, and there have been no asymmetrical allocations to segments.
The following is a summary of certain financial data for our Owned & Host reportable segment and Corporate/Other and Reconciliations categories. Reportable segment information is presented on the same basis as our consolidated financial statements, except for net revenue and associated costs applicable to revenue, which are presented on a cash basis, including point of sales for managed care payors and excluding the effects of unearned and deferred revenue, consistent with what the Chief Operating Decision Maker (“CODM”) regularly reviews.
Asset information is not included in the following summary since the CODM does not regularly review such information for our reportable segment.
Three Months Ended September 28, 2024
In thousandsOwned & HostCorporate/OtherReconciliationsTotal
Net product sales$356,404 $5,338 $1,414 $363,156 
Net sales of services and plans88,678 — (319)88,359 
Total net revenue445,082 5,338 1,095 451,515 
Costs of products101,535 4,366 491 106,392 
Costs of services and plans83,504 33 — 83,537 
Total costs applicable to revenue185,039 4,399 491 189,929 
SG&A179,229 54,762 — 233,991 
Asset impairment — 13,726 — 13,726 
Other expense (income), net— — — — 
Gain on extinguishment of debt
— (859)— (859)
EBITDA$80,814 $(66,690)$604 
Depreciation and amortization22,690 
Interest expense, net
4,108 
Loss from continuing operations before income taxes
$(12,070)
Three Months Ended September 30, 2023
In thousandsOwned & HostCorporate/OtherReconciliationsTotal
Net product sales$346,538 $8,273 $(245)$354,566 
Net sales of services and plans84,388 (1)(133)84,254 
Total net revenue430,926 8,272 (378)438,820 
Costs of products99,793 6,063 (6)105,850 
Costs of services and plans77,979 — — 77,979 
Total costs applicable to revenue177,772 6,063 (6)183,829 
SG&A169,020 58,495 — 227,515 
Asset impairment— 1,452 — 1,452 
Other expense (income), net— 1 — 1 
EBITDA$84,134 $(57,739)$(372)
Depreciation and amortization22,476 
Interest expense, net
3,722 
Loss from continuing operations before income taxes
$(175)
Nine Months Ended September 28, 2024
In thousandsOwned & HostCorporate/OtherReconciliationsTotal
Net product sales$1,086,311 $21,682 $5,213 $1,113,206 
Net sales of services and plans275,107 — (2,271)272,836 
Total net revenue1,361,418 21,682 2,942 1,386,042 
Costs of products312,566 17,112 1,131 330,809 
Costs of services and plans248,168 78 — 248,246 
Total costs applicable to revenue560,734 17,190 1,131 579,055 
SG&A532,930 172,542 — 705,472 
Asset impairment — 17,701 — 17,701 
Other expense (income), net— (1)— (1)
Gain on extinguishment of debt
— (859)— (859)
EBITDA$267,754 $(184,891)$1,811 
Depreciation and amortization68,603 
Interest expense, net
11,560 
Earnings from continuing operations before income taxes
$4,511 

Nine Months Ended September 30, 2023
In thousandsOwned & HostCorporate/OtherReconciliationsTotal
Net product sales$1,060,684 $25,500 $715 $1,086,899 
Net sales of services and plans250,901 — (2,382)248,519 
Total net revenue1,311,585 25,500 (1,667)1,335,418 
Costs of products304,671 18,560 55 323,286 
Costs of services and plans226,990 2 — 226,992 
Total costs applicable to revenue531,661 18,562 55 550,278 
SG&A502,638 176,477 — 679,115 
Asset impairment— 2,699 — 2,699 
Other expense (income), net— (103)— (103)
EBITDA$277,286 $(172,135)$(1,722)
Depreciation and amortization66,521 
Interest expense, net
10,425 
Earnings from continuing operations before income taxes
$26,483