v3.26.1
Segment reporting for single reportable segment
 7 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Segment reporting for single reportable segment Segment reporting for single reportable segment
The following table presents the components of net income or loss, which is the measure of profit or loss used for the Company’s single reportable segment:
May 26, 2025 throughYear endedYear ended
December 31, 2025May 25, 2025May 26, 2024
Revenues
$75,521 $128,867 $128,261 
Personnel costs(1)
27,471 50,377 53,292 
Materials and non-depreciation overhead(2)
28,371 51,018 48,540 
Depreciation
5,541 8,027 7,954 
Stock-based compensation
5,671 10,158 6,201 
Reorganization costs
2,252 10,481 9,796 
Loss on sale or disposal of assets
— 7,776 18 
All other operating expenses(3)
6,948 8,275 11,304 
Interest expense, net15,574 21,835 18,090 
Change in fair value of debt derivative liability1,573 (409)(39,500)
Other (income) expense, net
(256)3 3,052 
Income tax expense
337 43 183 
Income from discontinued operations
— — (2,682)
Net (loss) income
$(17,961)$(38,717)$12,013 
(1)Includes all wages and salary, bonus, employer taxes, and employee benefit plan expenses
(2)Represents cost of sales, excluding direct labor and all personnel cost and depreciation allocations
(3)Includes expenses for accounting, legal and other professional services, software licensing, insurance costs, public company costs and board fees.
For the transition period ended December 31, 2025, the Company earned revenue of approximately 70% in the United States, 15% in Belgium and 15% in all other countries combined. For the fiscal year ended May 25, 2025, the Company earned revenue of approximately 60% in the United States, 20% in Belgium, 10% in the Netherlands and 10% in all other countries combined. For the fiscal year ended May 26, 2024, the Company earned revenue of approximately 65% in the United States, 10% in Belgium, 5% in Netherlands and 20% in all other countries combined.