Intevac (IVAC) 10-Q 3 Aug 23 2023 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jul. 01, 2023	Jul. 31, 2023
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Entity Interactive Data Current	Yes
Document Period End Date	Jul. 01, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Document Quarterly Report	true
Document Transition Report	false
Entity Registrant Name	INTEVAC, INC.
Entity Central Index Key	0001001902
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Trading Symbol	IVAC
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity File Number	0-26946
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	94-3125814
Entity Address, Address Line One	3560 Bassett Street
Entity Address, City or Town	Santa Clara
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	95054
City Area Code	408
Local Phone Number	986-9888
Entity Small Business	true
Title of 12(b) Security	Common Stock
Entity Common Stock, Shares Outstanding		26,302,666
Security Exchange Name	NASDAQ

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jul. 01, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 43,976	$ 68,904
Short-term investments	23,626	25,541
Trade and other accounts receivable, net of allowances of $0 at both July 1, 2023 and December 31, 2022	20,211	15,823
Inventories	46,293	30,003
Prepaid expenses and other current assets	1,914	1,898
Total current assets	136,020	142,169
Long-term investments	5,550	17,585
Restricted cash	785	786
Property, plant and equipment, net	7,288	3,658
Operating lease right-of-use assets	2,266	3,390
Intangible assets, net of amortization of $110,000 at July 1, 2023 and $42,000 at December 31, 2022	1,022	1,090
Deferred income taxes and other long-term assets	4,187	4,381
Total assets	157,118	173,059
Current liabilities:
Current operating lease liabilities	2,456	3,404
Accounts payable	10,421	11,610
Accrued payroll and related liabilities	3,416	3,087
Other accrued liabilities	1,376	5,430
Customer advances	20,248	2,444
Total current liabilities	37,917	25,975
Noncurrent liabilities:
Noncurrent operating lease liabilities	687	1,417
Customer advances	1,482	22,215
Other noncurrent liabilities	29	0
Total noncurrent liabilities	2,198	23,632
Stockholders' equity:
Common stock, $0.001 par value	26	26
Additional paid-in capital	208,672	206,355
Treasury stock, 5,087 shares at both July 1, 2023 and at December 31, 2022	(29,551)	(29,551)
Accumulated other comprehensive loss	(190)	(193)
Accumulated deficit	(61,954)	(53,185)
Total stockholders' equity	117,003	123,452
Total liabilities and stockholders' equity	$ 157,118	$ 173,059

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jul. 01, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Net of allowances of trade, note and other accounts receivable	$ 0	$ 0
Net of amortization of intangible assets	$ 110	$ 42
Common stock, par value	$ 0.001	$ 0.001
Treasury stock, shares	5,087	5,087

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2023	Jul. 02, 2022	Jul. 01, 2023	Jul. 02, 2022
Net revenues:
Net revenues	$ 10,301	$ 9,307	$ 21,843	$ 13,752
Cost of net revenues:
Cost of net revenues	7,731	4,820	14,554	8,543
Gross profit	2,570	4,487	7,289	5,209
Operating expenses:
Research and development	3,647	2,868	7,620	7,028
Selling, general and administrative	4,375	4,016	9,575	8,265
Total operating expenses	8,022	6,884	17,195	15,293
Loss from operations	(5,452)	(2,397)	(9,906)	(10,084)
Interest income and other income (expense), net	650	317	1,322	310
Loss from continuing operations before provision for income taxes	(4,802)	(2,080)	(8,584)	(9,774)
Provision for income taxes	116	500	502	526
Net loss from continuing operations, net of taxes	(4,918)	(2,580)	(9,086)	(10,300)
Net income (loss) from discontinued operations, net of taxes	40	(238)	317	(373)
Net loss	$ (4,878)	$ (2,818)	$ (8,769)	$ (10,673)
Net income (loss) per share:
Basic – continuing operations	$ (0.19)	$ (0.1)	$ (0.35)	$ (0.41)
Diluted – continuing operations	(0.19)	(0.1)	(0.35)	(0.41)
Basic – discontinued operations	0	(0.01)	0.01	(0.01)
Diluted – discontinued operations	0	(0.01)	0.01	(0.01)
Basic – net loss	(0.19)	(0.11)	(0.34)	(0.43)
Diluted – net loss	$ (0.19)	$ (0.11)	$ (0.34)	$ (0.43)
Weighted average common shares outstanding:
Basic	26,032	25,141	25,907	24,970
Diluted	26,032	25,141	25,907	24,970

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2023	Jul. 02, 2022	Jul. 01, 2023	Jul. 02, 2022
Statement Of Income And Comprehensive Income [Abstract]
Net loss	$ (4,878)	$ (2,818)	$ (8,769)	$ (10,673)
Other comprehensive income (loss), before tax:
Change in unrealized net gain (loss) on available-for-sale investments	53	(161)	222	(335)
Foreign currency translation losses	(229)	(219)	(219)	(252)
Other comprehensive income (loss), before tax	(176)	(380)	3	(587)
Income taxes related to items in other comprehensive income (loss)	0	0	0	0
Other comprehensive income (loss), net of tax	(176)	(380)	3	(587)
Comprehensive loss	$ (5,054)	$ (3,198)	$ (8,766)	$ (11,260)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	6 Months Ended
	Jul. 01, 2023	Jul. 02, 2022
Operating activities
Net loss	$ (8,769,000)	$ (10,673,000)
Adjustments to reconcile net loss to net cash and cash equivalents used in operating activities:
Depreciation and amortization	681,000	776,000
Amortization of intangible assets	68,000	0
Net amortization (accretion) of investment premiums and discounts	(108,000)	(20,000)
Equity-based compensation	3,076,000	489,000
Straight-line rent adjustment and amortization of lease incentives	(554,000)	(483,000)
Deferred income taxes	183,000	345,000
(Gain) loss on disposal of equipment	(41,000)	1,453,000
Changes in operating assets and liabilities	(27,931,000)	(3,322,000)
Total adjustments	(24,626,000)	(762,000)
Net cash and cash equivalents used in operating activities	(33,395,000)	(11,435,000)
Investing activities
Purchases of investments	(9,099,000)	(45,663,000)
Proceeds from sales and maturities of investments	23,029,000	7,263,000
Proceeds from sales of fixed assets	65,000	0
Purchases of leasehold improvements and equipment	(4,335,000)	(888,000)
Net cash and cash equivalents provided by (used in) investing activities	9,660,000	(39,288,000)
Financing activities
Net proceeds from issuance of common stock	838,000	2,211,000
Payment of acquisition-related contingent consideration	(250,000)	0
Taxes paid related to net share settlement	(1,563,000)	(295,000)
Net cash and cash equivalents provided by (used in) financing activities	(975,000)	1,916,000
Effect of exchange rate changes on cash and cash equivalents	(219,000)	(252,000)
Net decrease in cash, cash equivalents and restricted cash	(24,929,000)	(49,059,000)
Cash, cash equivalents and restricted cash at beginning of period	69,690,000	103,514,000
Cash, cash equivalents and restricted cash at end of period	44,761,000	54,455,000
Non-cash investing and financing activity
Additions to right-of-use-assets obtained from new operating lease liabilities	$ 0	$ 94,000

Description of Business, Basis

Description of Business, Basis of Presentation and Significant Accounting Policy	6 Months Ended
	Jul. 01, 2023
Accounting Policies [Abstract]
Description of Business, Basis of Presentation and Significant Accounting Policy	1. Description of Business, Basis of Presentation and Significant Accounting Policy Description of Business Intevac, Inc. (together with its subsidiaries, “Intevac”, the “Company” or “we”) is a leader in the design and development of high-productivity, thin-film processing systems. Intevac’s production-proven platforms are designed for high-volume manufacturing of substrates with precise thin-film properties, such as for the hard disk drive (“HDD”) and display cover panel (“DCP”) markets. Principles of Consolidation and Basis of Presentation The condensed consolidated financial statements include the accounts of Intevac, Inc. and its subsidiaries after elimination of inter-company balances and transactions. In the opinion of management, the unaudited interim condensed consolidated financial statements of Intevac included herein have been prepared on a basis consistent with the December 31, 2022 audited consolidated financial statements and include all material adjustments, consisting of normal recurring adjustments, necessary to fairly present the information set forth therein. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ materially from those estimates. Reportable Segment During fiscal 2021, we sold the business of one of our reporting segments, Photonics. Therefore, we have one reportable segment remaining. See Note 2 for additional disclosure related to discontinued operations. The remaining segment, Thin Film Equipment (“TFE”), designs, develops and markets vacuum process equipment solutions for high-volume manufacturing of small substrates with precise thin-film properties, such as for the HDD and DCP markets, as well as other adjacent thin-film markets. The TFE segment also previously designed, developed and marketed manufacturing equipment for the photovoltaic (“PV”) solar cell and advanced semiconductor packaging (“ASP”) industries. In March 2022, the Company approved and implemented a restructuring program to realign the Company’s operational focus, scale the business and improve costs. The restructuring program includes (i) reducing the Company’s headcount and (ii) eliminating several research and development (“R&D”) programs and product offerings. As part of this realignment effort, the Company ceased its efforts to develop and market several of its manufacturing platforms for the DCP, PV and ASP industries and ceased offering certain legacy products in these industries. Trade Accounts Receivable and Allowance for Credit Losses The Company’s accounts receivable are recorded at invoiced amounts less allowance for any credit losses. In accordance with the Financial Accounting Standards Board’s Accounting Standards Update (“ASU”) 2016-13 that write-off

Divestiture and Discontinued Op

Divestiture and Discontinued Operations	6 Months Ended
	Jul. 01, 2023
Disposal Group, Including Discontinued Operation, Balance Sheet Disclosures [Abstract]
Divestiture and Discontinued Operations	2. Divestiture and Discontinued Operations Sale of Photonics On December 30, 2021, the Company entered into an asset purchase agreement (the “Purchase Agreement”) with EOTECH, LLC (“EOTECH”) governing the sale of the Company’s Photonics business to EOTECH in exchange for (i) $70.0 million in cash consideration, (ii) up to $30.0 million in earnout payments and (iii) the assumption by EOTECH of certain liabilities of the Photonics business as specified in the Purchase Agreement. The transaction closed on December 30, 2021. Under the Purchase Agreement, EOTECH also agreed to pay to the Company, if earned, earnout payments of up to an aggregate of $30.0 million based on achievement of fiscal year 2023, 2024 and 2025 Photonics segment revenue targets for the Integrated Visual Augmentation System (“IVAS”) program as specified in the Purchase Agreement. At any time prior to December 31, 2024, EOTECH may elect to pay to the Company $14.0 million, which would terminate EOTECH’s obligations with respect to any remaining earnout payments. As of July 1, 2023, there have been no earnout payments under the Purchase Agreement. The cash proceeds do not include any estimated future payments from the revenue earnout as the Company has elected to record the proceeds when the consideration is deemed realizable. The Company believes the disposition of the Photonics business will allow it to benefit from a streamlined business model, simplified operating structure, and enhanced management focus. In connection with the Photonics sale, the Company and EOTECH also entered into a Transition Service Agreement (the “TSA”) and a Lease Assignment Agreement. The TSA, which expired on June 30, 2022, outlined the information technology, people, and facility support the parties provided to each other for a period after the closing of the sale. The Lease Assignment Agreement assigns the lease obligation for two buildings in the Company’s California campus to EOTECH. As part of the assignment, the Company has agreed to subsidize a portion of EOTECH’s lease payments through the remainder of the lease term which expires in March 2024. In August 2022, Intevac and EOTECH entered into a Shared Services Agreement (the “Shared Services Agreement”) to share certain building maintenance costs. TSA fees earned since the divestiture were $408,000 for the three months ended July 2, 2022 and $1.2 million for the six months ended July 2, 2022. The agreed-upon charges for such services were generally intended to allow the service provider to recover all costs and expenses of providing such services. The TSA fees were included in selling, general and administrative expenses and cost of sales, respectively, in the Company’s condensed consolidated statement of operations. Additionally, during the three and six months ended July 2, 2022, the Company sold inventory in the amount of $32,000 and $148,000, respectively to EOTECH. Fees earned under the Shared Services Agreement for the three and six months ended July 1, 2023 were $39,000 and $65,000, respectively. As of July 1, 2023 and December 31, 2022, accounts receivable from EOTECH of $41,000 and $49,000, respectively, were included in trade and other accounts receivable in the Company’s condensed consolidated balance sheets. Based on its magnitude and because the Company exited certain markets, the sale of the Photonics segment represents a significant strategic shift that has a material effect on the Company’s operations and financial results, and the Company has separately reported the results of its Photonics segment as discontinued operations in the condensed consolidated statements of operations for the three and six months ended July 1, 2023 and July 2, 2022. The key components from discontinued operations related to the Photonics segment are as follows: Three Months Ended Six Months Ended July 1, July 2, July 1, July, (In thousands) Selling, general and administrative $ (40 ) $ 238 $ (317 ) $ 373 Total operating expenses (40 ) 238 (317 ) 373 Operating income (loss) – discontinued operations 40 (238 ) 317 (373 ) Other income (expense) – discontinued operations — — — — Income (loss) from discontinued operations before provision for income taxes 40 (238 ) 317 (373 ) Provision for income taxes — — — — Net income (loss) from discontinued operations, net of taxes $ 40 $ (238 ) $ 317 $ (373 ) The cash flows related to discontinued operations have not been segregated and are included in the condensed consolidated statements of cash flows. The following table presents cash flow and non-cash Three Months Ended Six Months Ended July 1, 2023 July 2, 2022 July 1, 2023 July 2, 2022 (In thousands) Equity-based compensation $ — $ 39 $ (260 ) $ (291 )

Revenue

Revenue	6 Months Ended
	Jul. 01, 2023
Revenue from Contract with Customer [Abstract]
Revenue	3. Revenue The following tables represent a disaggregation of revenue from contracts with customers for the three and six months ended July 1, 2023 and July 2, 2022. Major Products and Service Lines Three Months Ended July 1, 2023 Three Months Ended July 2, 2022 (In thousands) HDD PV ASP Total HDD DCP PV Total Systems, upgrades and spare parts $ 9,351 $ 10 $ 11 $ 9,372 $ 7,756 $ 1 $ 82 $ 7,839 Field service 929 — — 929 1,421 43 4 1,468 Total net revenues $ 10,280 $ 10 $ 11 $ 10,301 $ 9,177 $ 44 $ 86 $ 9,307 Six Months Ended July 1, 2023 Six Months Ended July 2, 2022 (In thousands) HDD PV ASP Total HDD DCP PV Total Systems, upgrades and spare parts $ 19,868 $ 28 $ 11 $ 19,907 $ 10,879 $ 1 $ 135 $ 11,015 Field service 1,936 — — 1,936 2,684 43 10 2,737 Total net revenues $ 21,804 $ 28 $ 11 $ 21,843 $ 13,563 $ 44 $ 145 $ 13,752 Primary Geographical Markets Three Months Ended Six Months Ended July 1, 2023 July 2, 2022 July 1, 2023 July 2, 2022 (In thousands) United States $ 662 $ 1,656 $ 2,276 $ 1,950 Asia 9,628 7,651 19,556 11,802 Europe 11 — 11 — Total net revenues $ 10,301 $ 9,307 $ 21,843 $ 13,752 Timing of Revenue Recognition Three Months Ended Six Months Ended July 1, 2023 July 2, 2022 July 1, 2023 July 2, 2022 (In thousands) Products transferred at a point in time $ 10,301 $ 9,307 $ 21,843 $ 13,752 Products and services transferred over time — — — — Total net revenues $ 10,301 $ 9,307 $ 21,843 $ 13,752 The following table reflects the changes in our contract assets, which we classify as accounts receivable, unbilled, and our contract liabilities, which we classify as deferred revenue and customer advances, for the six months ended July 1, 2023: July 1, 2023 December 31, 2022 Six Months Change (In thousands) Contract assets: Accounts receivable, unbilled $ 1,023 $ 424 $ 599 Contract liabilities: Deferred revenue $ 310 $ 2,446 $ (2,136 ) Customer advances 21,730 24,659 (2,929 ) $ 22,040 $ 27,105 $ (5,065 ) Accounts receivable, unbilled represents a contract asset for revenue that has been recognized in advance of billing the customer. For our system and certain upgrade sales, our customers generally pay in three Customer advances generally represent a contract liability for amounts billed to the customer prior to transferring goods. The Company has elected to use the practical expedient to disregard the effect of the time value of money in a significant financing component when its payment terms are less than one year. These customer advances are liquidated when revenue is recognized. Deferred revenue generally represents a contract liability for amounts billed to a customer for completed systems at the customer site that are undergoing installation and acceptance testing where transfer of control has not yet occurred as Intevac does not yet have a demonstrated history of meeting the acceptance criteria upon the customer’s receipt of product. During the six months ended July 1, 2023, we recognized revenue of $3.0 million and $2.2 million that was included in customer advances and deferred revenue, respectively, at the beginning of the period. In May 2023, the Company received notice of the cancellation of a $54.6 million order for eight 200 Lean HDD systems due to the customer postponing previously planned media capacity additions, and, accordingly, the Company removed the order from backlog. The customer contract associated with the cancelled order requires the customer to pay the Company a prorated price based upon the percentage of work completed on the order. The Company has received customer advances in the amount of $19.1 million associated with the cancelled order, all of which will be utilized to settle this customer obligation. On July 1, 2023, we had $58.2 million of remaining performance obligations, which we also refer to as total backlog. We expect to recognize approximately 37.9% of our remaining performance obligations as revenue in 2023 and 62.1% in 2024.

Inventories

Inventories	6 Months Ended
	Jul. 01, 2023
Inventory Disclosure [Abstract]
Inventories	4. Inventories Inventories are stated at the lower of average cost or net realizable value and consist of the following: July 1, December 31, 2023 2022 (In thousands) Raw materials $ 35,419 $ 19,116 Work-in-progress 10,860 9,499 Finished goods 14 1,388 $ 46,293 $ 30,003 Finished goods inventory at December 31, 2022 is comprised of a refurbished system at a customer location where the sales transaction did not meet our revenue recognition criteria. In May 2023, the Company received notice of the cancellation of a $54.6 million order for eight 200 Lean HDD systems. The customer contract associated with the cancelled order requires the customer to pay the Company a prorated price based upon the percentage of work completed on the order. The Company has received customer advances in the amount of $19.1 million associated with the cancelled order, all of which will be utilized to settle this customer obligation. In the second half of 2023 and into the beginning of 2024, as part of the cancellation of the order for eight 200 Lean HDD systems, the customer is expected to take delivery of $12.5 million of inventory on hand at July 1, 2023 and $11.4 million of inventory on order plus reimburse us for any supplier cancellation charges.

Equity-Based Compensation

Equity-Based Compensation	6 Months Ended
	Jul. 01, 2023
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Equity-Based Compensation	5. Equity-Based Compensation At July 1, 2023, Intevac had equity-based awards outstanding under the 2020 Equity Incentive Plan, the 2012 Equity Incentive Plan, the 2022 Inducement Equity Incentive Plan (the “Inducement Plan”) (together, the “Plans”) and the 2003 Employee Stock Purchase Plan (the “ESPP”). Intevac’s stockholders approved the 2020 Equity Incentive Plan, the 2012 Equity Incentive Plan and the ESPP. The Plans permit the grant of incentive or non-statutory On January 19, 2022, Intevac’s Board of Directors adopted the Inducement Plan and, subject to the adjustment provisions of the Inducement Plan, reserved 1,200,000 shares of the Company’s common stock for issuance pursuant to equity awards granted under the Inducement Plan. The Inducement Plan provides for the grant of equity-based awards, including nonstatutory stock options, restricted stock units, restricted stock, stock appreciation rights, performance shares and performance units, and its terms are substantially similar to the Company’s 2020 Equity Incentive Plan. The Inducement Plan was adopted without stockholder approval pursuant to Rule 5635(c)(4) of the Nasdaq Listing Rules. In accordance with that rule, awards under the Inducement Plan may only be made to individuals not previously employees or non-employee non-employment The ESPP provides that eligible employees may purchase Intevac’s common stock through payroll deductions at a price equal to 85% of the lower of the fair market value at the entry date of the applicable offering period or at the end of each applicable purchase interval. Offering periods are generally two years in length and consist of a series of six-month six-month Compensation Expense The effect of recording equity-based compensation for the three and six months ended July 1, 2023 and July 2, 2022 was as follows: Three Months Ended Six Months Ended July 1, 2023 July 2, 2022 July 1, 2023 July 2, 2022 (In thousands) Equity-based compensation by type of award: Stock options $ 2 $ 8 $ (11 ) $ (163 ) RSUs 756 729 1,355 336 PRSUs 534 566 1,332 231 ESPP purchase rights 203 222 400 85 Total equity-based compensation $ 1,495 $ 1,525 $ 3,076 $ 489 Included in the table above are: (a) A reversal of $1.3 million in equity-based compensation expense related to forfeitures of awards due to our reduction in workforce and a $37,000 benefit related to the modification of certain stock-based awards for the six months ended July 2, 2022. (See Note (b) Equity-based compensation reported in discontinued operations of ($260,000) for the six months ended July 1, 2023. Equity-based compensation reported in discontinued operations of $39,000 and ($291,000) for the three and six months ended July 2, 2022, respectively. Equity-based compensation expense allocated to discontinued operations for the six months ended July 2, 2022 includes $75,000 related to the modification of certain stock-based awards and is net of a divestiture-related forfeiture benefit of $446,000 that was recognized when employees were conveyed to EOTECH upon closing of the Photonics divestiture. (See Note Stock Options and ESPP The fair value of stock options and ESPP awards is estimated at the grant date using the Black-Scholes option valuation model. The determination of the fair value of stock options and ESPP awards on the date of grant using an option-pricing model is affected by Intevac’s stock price as well as assumptions regarding a number of highly complex and subjective variables. These variables include, but are not limited to, our expected stock price volatility over the term of the awards, and actual employee stock option exercise behavior. Intevac accounts for forfeitures as they occur, rather than estimating expected forfeitures. Option activity as of July 1, 2023 and changes during the six months ended July 1, 2023 were as follows: Shares Weighted-Average Exercise Price Options outstanding at December 31, 2022 383,099 $ 7.07 Options cancelled and forfeited (41,593 ) $ 10.59 Options exercised (52,813 ) $ 5.15 Options outstanding at July 1, 2023 288,693 $ 6.91 Options exercisable at July 1, 2023 288,568 $ 6.91 Intevac issued 131,303 shares of common stock under the ESPP during the six months ended July 1, 2023. Intevac estimated the weighted-average fair value of ESPP purchase rights using the following weighted-average assumptions: Six Months Ended July 1, 2023 July 2, 2022 ESPP Purchase Rights: Weighted-average fair value of grants per share $ 2.23 $ 1.85 Expected volatility 34.20 % 60.36 % Risk-free interest rate 4.47 % 0.98 % Expected term of purchase rights (in years) 1.0 1.2 Dividend yield None None The computation of the expected volatility assumptions used in the Black-Scholes calculations for ESPP purchase rights is based on the historical volatility of Intevac’s stock price, measured over a period equal to the expected term of the purchase right. The risk-free interest rate is based on the yield available on U.S. Treasury Strips with an equivalent remaining term. The expected term of purchase rights represents the period of time remaining in the current offering period. The dividend yield assumption is based on Intevac’s history of not paying dividends and the assumption of not paying dividends in the future. RSUs RSU activity as of July 1, 2023 and changes during the six months ended July 1, 2023 were as follows: Shares Weighted-Average Grant Date Fair Value Non-vested 1,309,792 $ 5.14 Granted 277,269 $ 5.40 Vested (442,823 ) $ 5.21 Cancelled and forfeited (74,185 ) $ 5.49 Non-vested 1,070,053 $ 5.15 Time-based RSUs are converted into shares of Intevac common stock upon vesting on a one-for-one three three PRSUs PRSU activity as of July 1, 2023 and changes during the six months ended July 1, 2023 were as follows: Shares Weighted-Average Grant Date Fair Value Non-vested 1,089,339 $ 3.54 Granted 525,656 $ 4.92 Vested (190,903 ) $ 4.26 Cancelled and forfeited (7,929 ) $ 6.13 Non-vested 1,416,163 $ 3.94 In May 2023, we granted to members of our senior management awards of performance-based restricted stock units (the “2023 PRSU Awards”) covering an aggregate of 525,656 shares of Intevac common stock (at maximum performance). The 2023 PRSU Awards are eligible to be earned based on achievement of five strategic goals during a three-year performance period commencing on May 18, 2023 and ending on May 31, 2026 (the “2023 Performance Period”). The 2023 PRSU Awards will vest, if at all, in five possible tranches. Each of the five tranches will vest only if the applicable strategic goal is achieved within the 2023 Performance Period, and each tranche may only be achieved once during the 2023 Performance Period. If a strategic goal is not achieved within the 2023 Performance Period, the corresponding PRSUs will not vest, and all unvested PRSUs at the end of the 2023 Performance Period will immediately be forfeited. Stock compensation expense is recorded based on the probability of achievement of the performance conditions specified in the PRSU grant. The Company evaluated the strategic goals in the context of its current long-range financial plan and its product development roadmap and determined the probability of achieving each goal for accounting purposes commencing in the quarter granted. Management expectations related to the achievement of performance goals associated with PRSUs with performance conditions are assessed regularly to determine whether such grants are expected to vest. The fair value of each PRSU is the Company’s stock price on the date of grant. Over the 2023 Performance Period, the number of shares expected to be issued may be adjusted upward or downward based upon the probability of achievement of the performance conditions. In May 2022, we granted to members of our senior management awards of performance-based restricted stock units (the “2022 PRSU Awards”) covering an aggregate of 935,600 shares of Intevac common stock (at maximum performance). The 2022 PRSU Awards are eligible to be earned based on achievement of certain stock prices based on the average closing price of the Company’s stock over a 30-day Intevac estimated the weighted-average fair value of the 2022 PRSU Awards using the following assumptions: Three and Six Months Ended July 2, 2022 Weighted-average fair value of grants per share $ 3.67 Expected volatility 54.42 % Risk-free interest rate 2.82 % Dividend yield None

Warranty

Warranty	6 Months Ended
	Jul. 01, 2023
Guarantees [Abstract]
Warranty	6. Warranty Intevac provides for the estimated cost of warranty when revenue is recognized. Intevac’s warranty is subject to contract terms and, for its systems, the warranty typically ranges between 12 and 24 months from customer acceptance. During this warranty period any defective non-consumable On the condensed consolidated balance sheets, the short-term portion of the warranty provision is included in other accrued liabilities, while the long-term portion, if any, is included in other noncurrent liabilities. The expense associated with product warranties issued or adjusted is included in cost of net revenues on the condensed consolidated statements of operations. The following table displays the activity in the warranty provision account for the three and six months ended July 1, 2023 and July 2, 2022. Three Months Ended Six Months Ended July 1, July 2, 2022 July 1, 2023 July 2, 2022 (In thousands) Opening balance $ 177 $ 249 $ 163 $ 346 Expenditures incurred under warranties (67 ) (54 ) (165 ) (225 ) Accruals for product warranties issued during the reporting period 72 36 172 72 Adjustments to previously existing warranty accruals (1 ) (17 ) 11 21 Closing balance $ 181 $ 214 $ 181 $ 214 The following table displays the balance sheet classification of the warranty provision account at July 1, 2023 and at December 31, 2022. July 1 2023 December 31 2022 (In thousands) Other accrued liabilities $ 152 $ 163 Other noncurrent liabilities 29 — Total warranty provision $ 181 $ 163

Guarantees

Guarantees	6 Months Ended
	Jul. 01, 2023
Guarantees [Abstract]
Guarantees	7. Guarantees Officer and Director Indemnifications As permitted or required under Delaware law and to the maximum extent allowable under that law, Intevac has certain obligations to indemnify its current and former officers and directors for certain events or occurrences while the officer or director is, or was, serving at Intevac’s request in such capacity. These indemnification obligations are valid as long as the director or officer acted in good faith and in a manner the person reasonably believed to be in or not opposed to the best interests of the Company and, with respect to any criminal action or proceeding, had no reasonable cause to believe his or her conduct was unlawful. The maximum potential amount of future payments Intevac could be required to make under these indemnification obligations is unlimited; however, Intevac has a director and officer insurance policy that mitigates Intevac’s exposure and enables Intevac to recover a portion of any future amounts paid. As a result of Intevac’s insurance policy coverage, Intevac believes the estimated fair value of these indemnification obligations is not material. Other Indemnifications As is customary in Intevac’s industry, many of Intevac’s contracts provide remedies to certain third parties such as defense, settlement, or payment of judgments for intellectual property claims related to the use of its products. Such indemnification obligations may not be subject to maximum loss clauses. Historically, payments made related to these indemnifications have been immaterial. Letters of Credit As of July 1, 2023, we had letters of credit and bank guarantees outstanding totaling $785,000, including the standby letter of credit outstanding under the Santa Clara, California facility lease and various other guarantees with our bank. These letters of credit and bank guarantees are collateralized by $785,000 of restricted cash.

Cash, Cash Equivalents and Inve

Cash, Cash Equivalents and Investments	6 Months Ended
	Jul. 01, 2023
Investments All Other Investments [Abstract]
Cash, Cash Equivalents and Investments	8. Cash, Cash Equivalents and Investments Cash and cash equivalents, short-term investments and long-term investments consist of: July 1, 2023 Amortized Cost Unrealized Holding Gains Unrealized Holding Losses Fair Value (In thousands) Cash and cash equivalents: Cash $ 22,389 $ — $ — $ 22,389 Money market funds 16,188 — — 16,188 Commercial paper 5,401 — 2 5,399 Total cash and cash equivalents $ 43,978 $ — $ 2 $ 43,976 Short-term investments: Asset-backed securities $ 1,015 $ — $ 1 $ 1,014 Certificates of deposit 1,700 — 1 1,699 Commercial paper 5,212 — 3 5,209 Corporate bonds and medium-term notes 5,673 — 101 5,572 Municipal bonds 1,220 — 13 1,207 U.S. treasury securities 9,024 — 99 8,925 Total short-term investments $ 23,844 $ — $ 218 $ 23,626 Long-term investments: Asset-backed securities $ 3,162 $ — $ 29 $ 3,133 Corporate bonds and medium-term notes 2,430 — 13 2,417 Total long-term investments $ 5,592 $ — $ 42 $ 5,550 Total cash, cash equivalents, and investments $ 73,414 $ — $ 262 $ 73,152 December 31, 2022 Amortized Cost Unrealized Holding Gains Unrealized Holding Losses Fair Value (In thousands) Cash and cash equivalents: Cash $ 26,465 $ — $ — $ 26,465 Money market funds 9,589 — — 9,589 Commercial paper 32,856 — 6 32,850 Total cash and cash equivalents $ 68,910 $ — $ 6 $ 68,904 Short-term investments: Asset-backed securities $ 2,012 $ — $ 13 $ 1,999 Certificates of deposit 3,850 — 10 3,840 Commercial paper 9,443 — 28 9,415 Corporate bonds and medium-term notes 4,210 — 32 4,178 Municipal bonds 1,486 — 25 1,461 U.S. treasury securities 4,771 — 123 4,648 Total short-term investments $ 25,772 $ — $ 231 $ 25,541 Long-term investments: Asset-backed securities $ 6,749 $ — $ 85 $ 6,664 Corporate bonds and medium-term notes 5,366 — 102 5,264 Municipal bonds 224 — 6 218 U.S. treasury and agency securities 5,493 — 54 5,439 Total long-term investments $ 17,832 $ — $ 247 $ 17,585 Total cash, cash equivalents, and investments $ 112,514 $ — $ 484 $ 112,030 The contractual maturities of investment securities at July 1, 2023 are presented in the following table. Amortized Cost Fair Value (In thousands) Due in one year or less $ 45,433 $ 45,213 Due after one through five years 5,592 5,550 $ 51,025 $ 50,763 We reassess our estimated credit losses on investments each reporting period. U.S. government securities and cash equivalents are under a “zero-loss available-for-sale Our investment portfolio includes both corporate and U.S. government securities that have a maximum maturity of three years. The longer the duration of these securities, the more susceptible they are to changes in market interest rates and bond yields. As yields increase, those securities with a lower yield-at-cost mark-to-market July 1, 2023 In Loss Position for Less than 12 Months In Loss Position for Greater than 12 Months Fair Value Gross Unrealized Fair Value Gross Unrealized Losses (In thousands) Asset-backed securities $ 288 $ 2 $ 3,778 $ 28 Certificates of deposit 499 1 — — Commercial paper 9,458 5 — — Corporate bonds and medium-term notes 3,171 30 4,103 84 Municipal bonds — — 1,207 13 U.S. treasury securities 4,025 4 4,900 95 $ 17,441 $ 42 $ 13,988 $ 220 All prices for the fixed maturity securities including U.S. treasury and agency securities, certificates of deposit, commercial paper, corporate bonds, asset-backed securities and municipal bonds are received from independent pricing services utilized by Intevac’s outside investment manager. This investment manager performs a review of the pricing methodologies and inputs utilized by the independent pricing services for each asset type priced by the vendor. In addition, on at least an annual basis, the investment manager conducts due diligence visits and interviews with each pricing vendor to verify the inputs utilized for each asset class. The due diligence visits include a review of the procedures performed by each vendor to ensure that pricing evaluations are representative of the price that would be received if a security were sold in an orderly transaction. Any pricing where the input is based solely on a broker price is deemed to be a Level 3 price. Intevac uses the pricing data obtained from its outside investment manager as the primary input to make its assessments and determinations as to the ultimate valuation of the above-mentioned securities and has not made, during the periods presented, any material adjustments to such inputs. The following table represents the fair value hierarchy of Intevac’s investment securities measured at fair value on a recurring basis as of July 1, 2023. Fair Value Measurements at July 1, 2023 Total Level 1 Level 2 (In thousands) Recurring fair value measurements: Investment securities Money market funds $ 16,188 $ 16,188 $ — U.S. treasury and agency securities 8,925 5,429 3,496 Asset-backed securities 4,147 — 4,147 Certificates of deposit 1,699 — 1,699 Commercial paper 10,608 — 10,608 Corporate bonds and medium-term notes 7,989 — 7,989 Municipal bonds 1,207 — 1,207 Total recurring fair value measurements $ 50,763 $ 21,617 $ 29,146

Derivative Instruments

Derivative Instruments	6 Months Ended
	Jul. 01, 2023
Derivative Instrument Detail [Abstract]
Derivative Instruments	9. Derivative Instruments The following table summarizes the Company’s outstanding derivative instruments on a gross basis as recorded in its condensed consolidated balance sheets as of July 1, 2023 and December 31, 2022. Notional Amounts Derivative Liabilities Derivative Assets Derivative Instrument July 1, December 31, July 1, December 31, Balance Sheet Line Fair Value Balance Sheet Line Fair Value (In thousands) Undesignated Hedges: Forward Foreign Currency Contracts $ 1,258 2,240 b $ 6 a $ 44 Total Hedges $ 1,258 2,240 $ 6 $ 44 a Other current assets b Other accrued liabilities

Equity

Equity	6 Months Ended
	Jul. 01, 2023
Equity [Abstract]
Equity	10. Equity Stock Repurchase Program On November 21, 2013, Intevac announced that its Board of Directors approved a stock repurchase program authorizing up to $30.0 million in repurchases. On August 20, 2018, Intevac announced that its Board of Directors approved a $10.0 million increase to the original stock repurchase program for an aggregate authorized amount of up to $40.0 million. At July 1, 2023, $10.4 million remains available for future stock repurchases under the repurchase program. Intevac did not make any common stock repurchases during the three and six months ended July 1, 2023 and July 2, 2022. Condensed Consolidated Statement of Changes in Equity The changes in stockholders’ equity by component for the three and six months ended July 1, 2023 and July 2, 2022, are as follows (in thousands): Three Months Ended July 1, 2023 Common Stock and Additional Paid-in Capital Treasury Stock Accumulated Other Comprehensive Income (Loss) Accumulated Deficit Total Stockholders’ Equity Balance at April 1, 2023 $ 207,489 $ (29,551 ) $ (14 ) $ (57,076 ) $ 120,848 Common stock issued under employee plans 3 — — — 3 Shares withheld for net share settlement of RSUs (289 ) — — — (289 ) Equity-based compensation expense 1,495 — — — 1,495 Net loss — — — (4,878 ) (4,878 ) Other comprehensive loss — — (176 ) — (176 ) Balance at July 1, 2023 $ 208,698 $ (29,551 ) $ (190 ) $ (61,954 ) $ 117,003 Six Months Ended July 1, 2023 Common Stock and Additional Paid-in Capital Treasury Stock Accumulated Other Comprehensive Income (Loss) Accumulated Deficit Total Stockholders’ Equity Balance at December 31, 2022 $ 206,381 $ (29,551 ) $ (193 ) $ (53,185 ) $ 123,452 Common stock issued under employee plans 804 — — — 804 Shares withheld for net share settlement of RSUs (1,563 ) — — — (1,563 ) Equity-based compensation expense 3,076 — — — 3,076 Net loss — — — (8,769 ) (8,769 ) Other comprehensive loss — — 3 — 3 Balance at July 1, 2023 $ 208,698 $ (29,551 ) $ (190 ) $ (61,954 ) $ 117,003 Three Months Ended July 2, 2022 Common Stock and Additional Paid-in Capital Treasury Stock Accumulated Other Comprehensive Income (Loss) Accumulated Deficit Total Stockholders’ Equity Balance at April 2, 2022 $ 198,960 $ (29,551 ) $ 371 $ (43,965 ) $ 125,815 Common stock issued under employee plans 1,178 — — — 1,178 Shares withheld for net share settlement of RSUs (160 ) — — — (160 ) Equity-based compensation expense 1,525 — — — 1,525 Net loss — — — (2,818 ) (2,818 ) Other comprehensive loss — — (380 ) — (380 ) Balance at July 2, 2022 $ 201,503 $ (29,551 ) $ (9 ) $ (46,783 ) $ 125,160 Six Months Ended July 2, 2022 Common Stock and Additional Paid-in Capital Treasury Stock Accumulated Other Comprehensive Income (Loss) Accumulated Deficit Total Stockholders’ Equity Balance at January 1, 2022 $ 199,098 $ (29,551 ) $ 578 $ (36,110 ) $ 134,015 Common stock issued under employee plans 2,211 — — — 2,211 Shares withheld for net share settlement of RSUs (295 ) — — — (295 ) Equity-based compensation expense 489 — — — 489 Net loss — — — (10,673 ) (10,673 ) Other comprehensive loss — — (587 ) — (587 ) Balance at July 2, 2022 $ 201,503 $ (29,551 ) $ (9 ) $ (46,783 ) $ 125,160 Accumulated Other Comprehensive Income (Loss) The changes in accumulated other comprehensive income (loss) by component for the three and six months ended July 1, 2023 and July 2, 2022, are as follows. Three Months Ended Six Months Ended July 1, 2023 Foreign Unrealized holding gains (losses) on available- for-sale investments Total Foreign currency Unrealized available- for-sale investments Total (In thousands) Beginning balance $ 301 $ (315 ) $ (14 ) $ 291 $ (484 ) $ (193 ) Other comprehensive income (loss) before reclassification (229 ) 53 (176 ) (219 ) 222 3 Amounts reclassified from other comprehensive income (loss) — — — — — — Net current-period other comprehensive income (loss) (229 ) 53 (176 ) (219 ) 222 3 Ending balance $ 72 $ (262 ) $ (190 ) $ 72 $ (262 ) $ (190 ) Three Months Ended Six Months Ended July 2, 2022 Foreign Unrealized holding gains (losses) on available- for-sale investments Total Foreign Unrealized holding gains (losses) on available- for-sale investments Total (In thousands) Beginning balance $ 575 $ (204 ) $ 371 $ 608 $ (30 ) $ 578 Other comprehensive loss before reclassification (219 ) (161 ) (380 ) (252 ) (335 ) (587 ) Amounts reclassified from other comprehensive loss — — — — — — Net current-period other comprehensive loss (219 ) (161 ) (380 ) (252 ) (335 ) (587 ) Ending balance $ 356 $ (365 ) $ (9 ) $ 356 $ (365 ) $ (9 )

Net Loss Per Share

Net Loss Per Share	6 Months Ended
	Jul. 01, 2023
Earnings Per Share [Abstract]
Net Loss Per Share	11. Net Loss Per Share The following table sets forth the computation of basic and diluted net loss per share: Three Months Ended Six Months Ended July 1, 2023 July 2, 2022 July 1, 2023 July 2, 2022 (In thousands, except per share amounts) Net loss from continuing operations $ (4,918 ) $ (2,580 ) $ (9,086 ) $ (10,300 ) Net income (loss) from discontinued operations, net of taxes $ 40 $ (238 ) $ 317 $ (373 ) Net loss $ (4,878 ) $ (2,818 ) $ (8,769 ) $ (10,673 ) Weighted-average shares – basic 26,032 25,141 25,907 24,970 Effect of dilutive potential common shares — — — — Weighted-average shares – diluted 26,032 25,141 25,907 24,970 Basic and diluted net income (loss) per share: Continuing operations $ (0.19 ) $ (0.10 ) $ (0.35 ) $ (0.41 ) Discontinued operations $ 0.00 $ (0.01 ) $ 0.01 $ (0.01 ) Net loss per share $ (0.19 ) $ (0.11 ) $ (0.34 ) $ (0.43 ) As the Company is in a net loss position, all of the Company’s equity instruments are considered antidilutive.

Income Taxes

Income Taxes	6 Months Ended
	Jul. 01, 2023
Income Tax Disclosure [Abstract]
Income Taxes	12. Income Taxes Intevac recorded income tax provisions of $116,000 and $502,000 for the three and six months ended July 1, 2023, respectively, and income tax provisions of $500,000 and $526,000 for the three and six months ended July 2, 2022, respectively. The income tax provisions (benefits) for the three and six month periods are based upon estimates of annual income (loss), annual permanent differences and statutory tax rates in the various jurisdictions in which Intevac operates. For the three month period ended July 1, 2023 Intevac recorded a $44,000 income tax benefit on losses of its international subsidiaries and recorded $158,000 for withholding taxes on royalties paid to the United States from Intevac’s Singapore subsidiary as a discrete item. For the six month period ended July 1, 2023 Intevac recorded a $180,000 income tax provision on income of its international subsidiaries and recorded $320,000 for withholding taxes on royalties paid to the United States from Intevac’s Singapore subsidiary as a discrete item. For the three and six month periods ended July 2, 2022 Intevac recorded income tax provisions on income of its international subsidiaries of $390,000 and $364,000, respectively, and recorded $ 107,000 158,000 On August 16, 2022, the Inflation Reduction Act of 2022 (“IRA”) was signed into U.S. law. The IRA includes a new Corporate Alternative Minimum Tax (“CAMT”) that is effective for tax years beginning after December 31, 2022. The CAMT applies to corporations that report over $1.0 billion in profits to shareholders. The Company does not expect the provisions of the CAMT to have a material impact to the Company’s consolidated financial statements.

Restructuring and Other Costs,

Restructuring and Other Costs, Net	6 Months Ended
	Jul. 01, 2023
Restructuring and Related Activities [Abstract]
Restructuring and Other Costs, Net	13. Restructuring and Other Costs, Net During the first quarter of fiscal 2022, Intevac substantially completed implementation of the 2022 cost reduction plan (the “2022 Cost Reduction Plan”), which was intended to reduce our overall cost structure and optimize our operational design, inclusive of the stranded overhead associated with the divestiture of the Photonics business. The restructuring program includes management reorganization and the right sizing of certain technology development, marketing and administrative functions. We incurred restructuring costs of $1.2 million in estimated severance and the related modification of certain stock-based awards. Other costs incurred as part of the 2022 Cost Reduction Plan include: (i) a benefit of $1.3 million related to the stock-based compensation forfeitures related to the employees affected by the reduction in workforce, (ii) $1.5 million for fixed asset disposals and (iii) $755,000 for write-offs of excess inventory. The 2022 Cost Reduction Plan reduced Intevac’s workforce by 6 percent. The cost of implementing the 2022 Cost Reduction Plan was reported under cost of net revenues and operating expenses in the condensed consolidated statements of operations. Implementation of the 2022 Cost Reduction Plan is expected to reduce salary, wages and other employee-related expenses by approximately $2.1 million on an annual basis. The changes in restructuring reserves, which resulted from cash-based severance payments and other employee-related costs, associated with the 2022 Cost Reduction Plan for the three and six months ended July 2, 2022 were as follows. Employee Termination Costs (In thousands) Balance at January 1, 2022 $ — Provision for restructuring charges under the 2022 Cost Reduction Plan 1,232 Cash payments made (757 ) Non-cash 37 Balance at April 2, 2022 512 Cash payments made (179 ) Balance at July 2, 2022 (b) $ 333 (a) Acceleration of equity awards. (b) Liability for employee termination costs is included in accrued payroll and related liabilities. During the fourth quarter of fiscal 2021, the Company recorded asset impairment and restructuring charges associated with the sale of the Photonics division including (i) $693,000 in severance and other employee-related costs related to the termination of the Photonics general manager; (ii) $1.2 million in asset impairment charges on the Company’s ROU asset and (iii) $665,000 in accruals for common area charges associated with an unused space commitment to EOTECH. In consideration of EOTECH’s assumption of certain lease obligations related to the Company’s Santa Clara, California campus, which assumed lease obligations pertain in part to excess space beyond that required by EOTECH’s currently anticipated operation of the Photonics division, the Company agreed to pay EOTECH the amount of $2.1 million, which is payable in (i) one initial installment of $308,000 on January 10, 2022 and (ii) seven equal quarterly installments of $259,000. The Company recorded an asset impairment charge against its ROU asset in the amount of $1.2 million associated with the excess space noted above. The Company recorded a liability to EOTECH in the amount of $665,000, the amount related to common area charges which are not included in the base rental payments or the lease liability on the Company’s condensed consolidated balance sheet. During the first quarter of fiscal 2022, the Company recorded restructuring charges associated with the sale of the Photonics division including $37,000 in severance and other employee-related costs related to the termination of employment of four Photonics employees and $75,000 in stock-based compensation associated with the modification of certain stock-based awards for eighty Photonics employees. The changes in restructuring reserves, which resulted from cash-based severance payments and other employee-related costs and other exit costs associated with the Photonics divestiture for the three and six months ended July 1, 2023 and July 2, 2022 were as follows. Other Exit Costs (In thousands) Balance at December 31, 2022 $ 318 Provision for restructuring charges associated with Photonics divestiture (a) 3 Cash payments made (81 ) Balance at April 1, 2023 $ 240 Provision for restructuring charges associated with Photonics divestiture (a) 2 Cash payments made (80 ) Balance at July 1, 2023 $ 162 Employee Termination Costs Other Exit Costs Total (In thousands) Balance at January 1, 2022 $ 358 $ 665 $ 1,023 Provision for restructuring charges associated with Photonics divestiture (a) 112 2 114 Cash payments made (137 ) (128 ) (265 ) Non-cash (75 ) — (75 ) Balance at April 2, 2022 $ 258 $ 539 $ 797 Provision for restructuring charges associated with Photonics divestiture (a) — 4 4 Cash payments made (90 ) (77 ) (167 ) Balance at July 2, 2022 $ 168 (c) $ 466 $ 634 (a) Included in loss from discontinued operations (See Note 2). (b) Acceleration of equity awards. (c) Liability for employee termination costs is included in accrued payroll and related liabilities.

Acquisition of Hia, Inc.

Acquisition of Hia, Inc.	6 Months Ended
	Jul. 01, 2023
Business Combinations [Abstract]
Contingent Consideration	14. Acquisition of Hia, Inc. On August 26, 2022 (the “Closing Date”), the Company completed the acquisition of Hia, Inc., a supplier of magnetic bars, to bring the manufacturing of these magnetic bars in-house The Company determined this transaction represented an asset acquisition as substantially all of the value was in the technology intangible assets of Hia. Contingent consideration is not recorded in an asset acquisition until the contingency is resolved (when the contingent consideration is paid or becomes payable) or when probable and reasonably estimable. The first milestone was achieved and contingent consideration in the amount of $250,000 was paid on January 17, 2023. The technology intangible assets are being amortized on a straight-line basis over a period of 8.3 years. Total amortization expense during the three and six months ended July 1, 2023 was $34,000 and $68,000, respectively. Annual amortization expense related to the acquired technology intangible assets in each of the succeeding years is estimated to be approximately $68,000 for the remainder of fiscal 2023 and approximately $136,000 per year from fiscal 2024 through fiscal 2030. The following table represents the carrying amount of the Hia technology intangible assets at July 1, 2023 (in thousands): Gross carrying amount at July 1, 2023 $ 1,132 Accumulated amortization (110 ) Net carrying amount at July 1, 2023 $ 1,022

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jul. 01, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	15. Commitments and Contingencies From time to time, Intevac may have certain contingent liabilities that arise in the ordinary course of its business activities. Intevac accounts for contingent liabilities when it is probable that future expenditures will be made and such expenditures can be reasonably estimated. Legal Matters From time to time, Intevac receives notification from third parties, including customers and suppliers, seeking indemnification, litigation support, payment of money or other actions in connection with claims made against them. In addition, from time to time, Intevac receives notification from third parties claiming that Intevac may be or is infringing their intellectual property or other rights. Intevac also is subject to various other legal proceedings and claims, both asserted and unasserted, that arise in the ordinary course of business. Although the outcome of these claims and proceedings cannot be predicted with certainty, Intevac does not believe that any existing proceedings or claims will have a material adverse effect on its consolidated financial condition or results of operations. In July 2020, Robin Quiusky, a former contract employee who worked for us via a staffing agency, filed an action against us under the Private Attorneys General Act (“PAGA”) in California state court (Quiusky v. Intevac, Inc., et al) alleging that the Company failed to provide rest and meal breaks, pay overtime and reimburse business expenses for non-exempt

Subsequent Event

Subsequent Event	6 Months Ended
	Jul. 01, 2023
Subsequent Events [Abstract]
Subsequent Event	16. Subsequent Event During the third quarter of fiscal 2023, Intevac substantially completed implementation of a cost reduction plan (the “2023 Cost Reduction Plan”), which is intended to reduce expenses by reducing our workforce by between 23 to

Description of Business, Basi_2

Description of Business, Basis of Presentation and Significant Accounting Policy (Policies)	6 Months Ended
	Jul. 01, 2023
Principles of Consolidation and Basis of Presentation	Principles of Consolidation and Basis of Presentation The condensed consolidated financial statements include the accounts of Intevac, Inc. and its subsidiaries after elimination of inter-company balances and transactions. In the opinion of management, the unaudited interim condensed consolidated financial statements of Intevac included herein have been prepared on a basis consistent with the December 31, 2022 audited consolidated financial statements and include all material adjustments, consisting of normal recurring adjustments, necessary to fairly present the information set forth therein. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ materially from those estimates.
Reportable Segment	Reportable Segment During fiscal 2021, we sold the business of one of our reporting segments, Photonics. Therefore, we have one reportable segment remaining. See Note 2 for additional disclosure related to discontinued operations. The remaining segment, Thin Film Equipment (“TFE”), designs, develops and markets vacuum process equipment solutions for high-volume manufacturing of small substrates with precise thin-film properties, such as for the HDD and DCP markets, as well as other adjacent thin-film markets. The TFE segment also previously designed, developed and marketed manufacturing equipment for the photovoltaic (“PV”) solar cell and advanced semiconductor packaging (“ASP”) industries. In March 2022, the Company approved and implemented a restructuring program to realign the Company’s operational focus, scale the business and improve costs. The restructuring program includes (i) reducing the Company’s headcount and (ii) eliminating several research and development (“R&D”) programs and product offerings. As part of this realignment effort, the Company ceased its efforts to develop and market several of its manufacturing platforms for the DCP, PV and ASP industries and ceased offering certain legacy products in these industries.
Trade Accounts Receivable and Allowance for Credit Losses	Trade Accounts Receivable and Allowance for Credit Losses The Company’s accounts receivable are recorded at invoiced amounts less allowance for any credit losses. In accordance with the Financial Accounting Standards Board’s Accounting Standards Update (“ASU”) 2016-13 that write-off

Divestiture and Discontinued _2

Divestiture and Discontinued Operations (Tables)	6 Months Ended
	Jul. 01, 2023
Disposal Group, Including Discontinued Operation, Balance Sheet Disclosures [Abstract]
Summary of components discontinued operations related photonics segment	The key components from discontinued operations related to the Photonics segment are as follows: Three Months Ended Six Months Ended July 1, July 2, July 1, July, (In thousands) Selling, general and administrative $ (40 ) $ 238 $ (317 ) $ 373 Total operating expenses (40 ) 238 (317 ) 373 Operating income (loss) – discontinued operations 40 (238 ) 317 (373 ) Other income (expense) – discontinued operations — — — — Income (loss) from discontinued operations before provision for income taxes 40 (238 ) 317 (373 ) Provision for income taxes — — — — Net income (loss) from discontinued operations, net of taxes $ 40 $ (238 ) $ 317 $ (373 )
Summary of cash flow and noncash information related to discontinued operations	The cash flows related to discontinued operations have not been segregated and are included in the condensed consolidated statements of cash flows. The following table presents cash flow and non-cash Three Months Ended Six Months Ended July 1, 2023 July 2, 2022 July 1, 2023 July 2, 2022 (In thousands) Equity-based compensation $ — $ 39 $ (260 ) $ (291 )

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Jul. 01, 2023
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue from Contracts with Customers	The following tables represent a disaggregation of revenue from contracts with customers for the three and six months ended July 1, 2023 and July 2, 2022. Major Products and Service Lines Three Months Ended July 1, 2023 Three Months Ended July 2, 2022 (In thousands) HDD PV ASP Total HDD DCP PV Total Systems, upgrades and spare parts $ 9,351 $ 10 $ 11 $ 9,372 $ 7,756 $ 1 $ 82 $ 7,839 Field service 929 — — 929 1,421 43 4 1,468 Total net revenues $ 10,280 $ 10 $ 11 $ 10,301 $ 9,177 $ 44 $ 86 $ 9,307 Six Months Ended July 1, 2023 Six Months Ended July 2, 2022 (In thousands) HDD PV ASP Total HDD DCP PV Total Systems, upgrades and spare parts $ 19,868 $ 28 $ 11 $ 19,907 $ 10,879 $ 1 $ 135 $ 11,015 Field service 1,936 — — 1,936 2,684 43 10 2,737 Total net revenues $ 21,804 $ 28 $ 11 $ 21,843 $ 13,563 $ 44 $ 145 $ 13,752 Primary Geographical Markets Three Months Ended Six Months Ended July 1, 2023 July 2, 2022 July 1, 2023 July 2, 2022 (In thousands) United States $ 662 $ 1,656 $ 2,276 $ 1,950 Asia 9,628 7,651 19,556 11,802 Europe 11 — 11 — Total net revenues $ 10,301 $ 9,307 $ 21,843 $ 13,752 Timing of Revenue Recognition Three Months Ended Six Months Ended July 1, 2023 July 2, 2022 July 1, 2023 July 2, 2022 (In thousands) Products transferred at a point in time $ 10,301 $ 9,307 $ 21,843 $ 13,752 Products and services transferred over time — — — — Total net revenues $ 10,301 $ 9,307 $ 21,843 $ 13,752
Changes in Contract Assets and Contract Liabilities	The following table reflects the changes in our contract assets, which we classify as accounts receivable, unbilled, and our contract liabilities, which we classify as deferred revenue and customer advances, for the six months ended July 1, 2023: July 1, 2023 December 31, 2022 Six Months Change (In thousands) Contract assets: Accounts receivable, unbilled $ 1,023 $ 424 $ 599 Contract liabilities: Deferred revenue $ 310 $ 2,446 $ (2,136 ) Customer advances 21,730 24,659 (2,929 ) $ 22,040 $ 27,105 $ (5,065 )

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jul. 01, 2023
Inventory Disclosure [Abstract]
Summary of Inventories	Inventories are stated at the lower of average cost or net realizable value and consist of the following: July 1, December 31, 2023 2022 (In thousands) Raw materials $ 35,419 $ 19,116 Work-in-progress 10,860 9,499 Finished goods 14 1,388 $ 46,293 $ 30,003

Equity-Based Compensation (Tabl

Equity-Based Compensation (Tables)	6 Months Ended
	Jul. 01, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Effect of Recording Equity-Based Compensation	The effect of recording equity-based compensation for the three and six months ended July 1, 2023 and July 2, 2022 was as follows: Three Months Ended Six Months Ended July 1, 2023 July 2, 2022 July 1, 2023 July 2, 2022 (In thousands) Equity-based compensation by type of award: Stock options $ 2 $ 8 $ (11 ) $ (163 ) RSUs 756 729 1,355 336 PRSUs 534 566 1,332 231 ESPP purchase rights 203 222 400 85 Total equity-based compensation $ 1,495 $ 1,525 $ 3,076 $ 489
Summary of Stock Option Activity	Option activity as of July 1, 2023 and changes during the six months ended July 1, 2023 were as follows: Shares Weighted-Average Exercise Price Options outstanding at December 31, 2022 383,099 $ 7.07 Options cancelled and forfeited (41,593 ) $ 10.59 Options exercised (52,813 ) $ 5.15 Options outstanding at July 1, 2023 288,693 $ 6.91 Options exercisable at July 1, 2023 288,568 $ 6.91
Summary of Restricted Stock Units Activity	RSU activity as of July 1, 2023 and changes during the six months ended July 1, 2023 were as follows: Shares Weighted-Average Grant Date Fair Value Non-vested 1,309,792 $ 5.14 Granted 277,269 $ 5.40 Vested (442,823 ) $ 5.21 Cancelled and forfeited (74,185 ) $ 5.49 Non-vested 1,070,053 $ 5.15
Employee Stock Purchase Rights Weighted-Average Assumptions	Intevac estimated the weighted-average fair value of ESPP purchase rights using the following weighted-average assumptions: Six Months Ended July 1, 2023 July 2, 2022 ESPP Purchase Rights: Weighted-average fair value of grants per share $ 2.23 $ 1.85 Expected volatility 34.20 % 60.36 % Risk-free interest rate 4.47 % 0.98 % Expected term of purchase rights (in years) 1.0 1.2 Dividend yield None None
Performance Based Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Summary of Restricted Stock Units Activity	PRSU activity as of July 1, 2023 and changes during the six months ended July 1, 2023 were as follows: Shares Weighted-Average Grant Date Fair Value Non-vested 1,089,339 $ 3.54 Granted 525,656 $ 4.92 Vested (190,903 ) $ 4.26 Cancelled and forfeited (7,929 ) $ 6.13 Non-vested 1,416,163 $ 3.94
Employee Stock Purchase Rights Weighted-Average Assumptions	Intevac estimated the weighted-average fair value of the 2022 PRSU Awards using the following assumptions: Three and Six Months Ended July 2, 2022 Weighted-average fair value of grants per share $ 3.67 Expected volatility 54.42 % Risk-free interest rate 2.82 % Dividend yield None

Warranty (Tables)

Warranty (Tables)	6 Months Ended
	Jul. 01, 2023
Guarantees [Abstract]
Schedule of Product Warranty Liability	The following table displays the activity in the warranty provision account for the three and six months ended July 1, 2023 and July 2, 2022. Three Months Ended Six Months Ended July 1, July 2, 2022 July 1, 2023 July 2, 2022 (In thousands) Opening balance $ 177 $ 249 $ 163 $ 346 Expenditures incurred under warranties (67 ) (54 ) (165 ) (225 ) Accruals for product warranties issued during the reporting period 72 36 172 72 Adjustments to previously existing warranty accruals (1 ) (17 ) 11 21 Closing balance $ 181 $ 214 $ 181 $ 214 The following table displays the balance sheet classification of the warranty provision account at July 1, 2023 and at December 31, 2022. July 1 2023 December 31 2022 (In thousands) Other accrued liabilities $ 152 $ 163 Other noncurrent liabilities 29 — Total warranty provision $ 181 $ 163

Cash, Cash Equivalents and In_2

Cash, Cash Equivalents and Investments (Tables)	6 Months Ended
	Jul. 01, 2023
Cash Flow Hedges Derivative Instruments at Fair Value, Net [Abstract]
Cash, Cash Equivalents and Short-Term Investments and Long-Term Investments	Cash and cash equivalents, short-term investments and long-term investments consist of: July 1, 2023 Amortized Cost Unrealized Holding Gains Unrealized Holding Losses Fair Value (In thousands) Cash and cash equivalents: Cash $ 22,389 $ — $ — $ 22,389 Money market funds 16,188 — — 16,188 Commercial paper 5,401 — 2 5,399 Total cash and cash equivalents $ 43,978 $ — $ 2 $ 43,976 Short-term investments: Asset-backed securities $ 1,015 $ — $ 1 $ 1,014 Certificates of deposit 1,700 — 1 1,699 Commercial paper 5,212 — 3 5,209 Corporate bonds and medium-term notes 5,673 — 101 5,572 Municipal bonds 1,220 — 13 1,207 U.S. treasury securities 9,024 — 99 8,925 Total short-term investments $ 23,844 $ — $ 218 $ 23,626 Long-term investments: Asset-backed securities $ 3,162 $ — $ 29 $ 3,133 Corporate bonds and medium-term notes 2,430 — 13 2,417 Total long-term investments $ 5,592 $ — $ 42 $ 5,550 Total cash, cash equivalents, and investments $ 73,414 $ — $ 262 $ 73,152 December 31, 2022 Amortized Cost Unrealized Holding Gains Unrealized Holding Losses Fair Value (In thousands) Cash and cash equivalents: Cash $ 26,465 $ — $ — $ 26,465 Money market funds 9,589 — — 9,589 Commercial paper 32,856 — 6 32,850 Total cash and cash equivalents $ 68,910 $ — $ 6 $ 68,904 Short-term investments: Asset-backed securities $ 2,012 $ — $ 13 $ 1,999 Certificates of deposit 3,850 — 10 3,840 Commercial paper 9,443 — 28 9,415 Corporate bonds and medium-term notes 4,210 — 32 4,178 Municipal bonds 1,486 — 25 1,461 U.S. treasury securities 4,771 — 123 4,648 Total short-term investments $ 25,772 $ — $ 231 $ 25,541 Long-term investments: Asset-backed securities $ 6,749 $ — $ 85 $ 6,664 Corporate bonds and medium-term notes 5,366 — 102 5,264 Municipal bonds 224 — 6 218 U.S. treasury and agency securities 5,493 — 54 5,439 Total long-term investments $ 17,832 $ — $ 247 $ 17,585 Total cash, cash equivalents, and investments $ 112,514 $ — $ 484 $ 112,030
Contractual Maturities of Available-for-Sale Securities	The contractual maturities of investment securities at July 1, 2023 are presented in the following table. Amortized Cost Fair Value (In thousands) Due in one year or less $ 45,433 $ 45,213 Due after one through five years 5,592 5,550 $ 51,025 $ 50,763
Fair Market Value of Investments with Unrealized Losses Not Deemed to be Other-Than Temporarily Impaired	The following table provides the fair market value of Intevac’s investments with unrealized losses that are not deemed to be other-than temporarily impaired as of July 1, 2023. July 1, 2023 In Loss Position for Less than 12 Months In Loss Position for Greater than 12 Months Fair Value Gross Unrealized Fair Value Gross Unrealized Losses (In thousands) Asset-backed securities $ 288 $ 2 $ 3,778 $ 28 Certificates of deposit 499 1 — — Commercial paper 9,458 5 — — Corporate bonds and medium-term notes 3,171 30 4,103 84 Municipal bonds — — 1,207 13 U.S. treasury securities 4,025 4 4,900 95 $ 17,441 $ 42 $ 13,988 $ 220
Fair Value Hierarchy of Available-for-Sale Securities Measured at Fair Value on Recurring Basis	The following table represents the fair value hierarchy of Intevac’s investment securities measured at fair value on a recurring basis as of July 1, 2023. Fair Value Measurements at July 1, 2023 Total Level 1 Level 2 (In thousands) Recurring fair value measurements: Investment securities Money market funds $ 16,188 $ 16,188 $ — U.S. treasury and agency securities 8,925 5,429 3,496 Asset-backed securities 4,147 — 4,147 Certificates of deposit 1,699 — 1,699 Commercial paper 10,608 — 10,608 Corporate bonds and medium-term notes 7,989 — 7,989 Municipal bonds 1,207 — 1,207 Total recurring fair value measurements $ 50,763 $ 21,617 $ 29,146

Derivative Instruments (Tables)

Derivative Instruments (Tables)	6 Months Ended
	Jul. 01, 2023
Derivative Instrument Detail [Abstract]
Summary of Outstanding Derivative Instruments on Gross Basis as Recorded in Consolidated Balance Sheets	The following table summarizes the Company’s outstanding derivative instruments on a gross basis as recorded in its condensed consolidated balance sheets as of July 1, 2023 and December 31, 2022. Notional Amounts Derivative Liabilities Derivative Assets Derivative Instrument July 1, December 31, July 1, December 31, Balance Sheet Line Fair Value Balance Sheet Line Fair Value (In thousands) Undesignated Hedges: Forward Foreign Currency Contracts $ 1,258 2,240 b $ 6 a $ 44 Total Hedges $ 1,258 2,240 $ 6 $ 44 a Other current assets b Other accrued liabilities

Equity (Tables)

Equity (Tables)	6 Months Ended
	Jul. 01, 2023
Equity [Abstract]
Schedule of Changes in Stockholders' Equity	The changes in stockholders’ equity by component for the three and six months ended July 1, 2023 and July 2, 2022, are as follows (in thousands): Three Months Ended July 1, 2023 Common Stock and Additional Paid-in Capital Treasury Stock Accumulated Other Comprehensive Income (Loss) Accumulated Deficit Total Stockholders’ Equity Balance at April 1, 2023 $ 207,489 $ (29,551 ) $ (14 ) $ (57,076 ) $ 120,848 Common stock issued under employee plans 3 — — — 3 Shares withheld for net share settlement of RSUs (289 ) — — — (289 ) Equity-based compensation expense 1,495 — — — 1,495 Net loss — — — (4,878 ) (4,878 ) Other comprehensive loss — — (176 ) — (176 ) Balance at July 1, 2023 $ 208,698 $ (29,551 ) $ (190 ) $ (61,954 ) $ 117,003 Six Months Ended July 1, 2023 Common Stock and Additional Paid-in Capital Treasury Stock Accumulated Other Comprehensive Income (Loss) Accumulated Deficit Total Stockholders’ Equity Balance at December 31, 2022 $ 206,381 $ (29,551 ) $ (193 ) $ (53,185 ) $ 123,452 Common stock issued under employee plans 804 — — — 804 Shares withheld for net share settlement of RSUs (1,563 ) — — — (1,563 ) Equity-based compensation expense 3,076 — — — 3,076 Net loss — — — (8,769 ) (8,769 ) Other comprehensive loss — — 3 — 3 Balance at July 1, 2023 $ 208,698 $ (29,551 ) $ (190 ) $ (61,954 ) $ 117,003 Three Months Ended July 2, 2022 Common Stock and Additional Paid-in Capital Treasury Stock Accumulated Other Comprehensive Income (Loss) Accumulated Deficit Total Stockholders’ Equity Balance at April 2, 2022 $ 198,960 $ (29,551 ) $ 371 $ (43,965 ) $ 125,815 Common stock issued under employee plans 1,178 — — — 1,178 Shares withheld for net share settlement of RSUs (160 ) — — — (160 ) Equity-based compensation expense 1,525 — — — 1,525 Net loss — — — (2,818 ) (2,818 ) Other comprehensive loss — — (380 ) — (380 ) Balance at July 2, 2022 $ 201,503 $ (29,551 ) $ (9 ) $ (46,783 ) $ 125,160 Six Months Ended July 2, 2022 Common Stock and Additional Paid-in Capital Treasury Stock Accumulated Other Comprehensive Income (Loss) Accumulated Deficit Total Stockholders’ Equity Balance at January 1, 2022 $ 199,098 $ (29,551 ) $ 578 $ (36,110 ) $ 134,015 Common stock issued under employee plans 2,211 — — — 2,211 Shares withheld for net share settlement of RSUs (295 ) — — — (295 ) Equity-based compensation expense 489 — — — 489 Net loss — — — (10,673 ) (10,673 ) Other comprehensive loss — — (587 ) — (587 ) Balance at July 2, 2022 $ 201,503 $ (29,551 ) $ (9 ) $ (46,783 ) $ 125,160
Changes in Accumulated Other Comprehensive Income by Component	The changes in accumulated other comprehensive income (loss) by component for the three and six months ended July 1, 2023 and July 2, 2022, are as follows. Three Months Ended Six Months Ended July 1, 2023 Foreign Unrealized holding gains (losses) on available- for-sale investments Total Foreign currency Unrealized available- for-sale investments Total (In thousands) Beginning balance $ 301 $ (315 ) $ (14 ) $ 291 $ (484 ) $ (193 ) Other comprehensive income (loss) before reclassification (229 ) 53 (176 ) (219 ) 222 3 Amounts reclassified from other comprehensive income (loss) — — — — — — Net current-period other comprehensive income (loss) (229 ) 53 (176 ) (219 ) 222 3 Ending balance $ 72 $ (262 ) $ (190 ) $ 72 $ (262 ) $ (190 ) Three Months Ended Six Months Ended July 2, 2022 Foreign Unrealized holding gains (losses) on available- for-sale investments Total Foreign Unrealized holding gains (losses) on available- for-sale investments Total (In thousands) Beginning balance $ 575 $ (204 ) $ 371 $ 608 $ (30 ) $ 578 Other comprehensive loss before reclassification (219 ) (161 ) (380 ) (252 ) (335 ) (587 ) Amounts reclassified from other comprehensive loss — — — — — — Net current-period other comprehensive loss (219 ) (161 ) (380 ) (252 ) (335 ) (587 ) Ending balance $ 356 $ (365 ) $ (9 ) $ 356 $ (365 ) $ (9 )

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	6 Months Ended
	Jul. 01, 2023
Earnings Per Share [Abstract]
Computation of Basic and Diluted Net Income Per Share	The following table sets forth the computation of basic and diluted net loss per share: Three Months Ended Six Months Ended July 1, 2023 July 2, 2022 July 1, 2023 July 2, 2022 (In thousands, except per share amounts) Net loss from continuing operations $ (4,918 ) $ (2,580 ) $ (9,086 ) $ (10,300 ) Net income (loss) from discontinued operations, net of taxes $ 40 $ (238 ) $ 317 $ (373 ) Net loss $ (4,878 ) $ (2,818 ) $ (8,769 ) $ (10,673 ) Weighted-average shares – basic 26,032 25,141 25,907 24,970 Effect of dilutive potential common shares — — — — Weighted-average shares – diluted 26,032 25,141 25,907 24,970 Basic and diluted net income (loss) per share: Continuing operations $ (0.19 ) $ (0.10 ) $ (0.35 ) $ (0.41 ) Discontinued operations $ 0.00 $ (0.01 ) $ 0.01 $ (0.01 ) Net loss per share $ (0.19 ) $ (0.11 ) $ (0.34 ) $ (0.43 )

Restructuring and Other Costs_2

Restructuring and Other Costs, Net (Tables)	6 Months Ended
	Jul. 01, 2023
Restructuring and Related Activities [Abstract]
Summary of Restructuring Reserve by Type of Cost	The changes in restructuring reserves, which resulted from cash-based severance payments and other employee-related costs, associated with the 2022 Cost Reduction Plan for the three and six months ended July 2, 2022 were as follows. Employee Termination Costs (In thousands) Balance at January 1, 2022 $ — Provision for restructuring charges under the 2022 Cost Reduction Plan 1,232 Cash payments made (757 ) Non-cash 37 Balance at April 2, 2022 512 Cash payments made (179 ) Balance at July 2, 2022 (b) $ 333 (a) Acceleration of equity awards. (b) Liability for employee termination costs is included in accrued payroll and related liabilities.
Changes in Restructuring Reserves	The changes in restructuring reserves, which resulted from cash-based severance payments and other employee-related costs and other exit costs associated with the Photonics divestiture for the three and six months ended July 1, 2023 and July 2, 2022 were as follows. Other Exit Costs (In thousands) Balance at December 31, 2022 $ 318 Provision for restructuring charges associated with Photonics divestiture (a) 3 Cash payments made (81 ) Balance at April 1, 2023 $ 240 Provision for restructuring charges associated with Photonics divestiture (a) 2 Cash payments made (80 ) Balance at July 1, 2023 $ 162 Employee Termination Costs Other Exit Costs Total (In thousands) Balance at January 1, 2022 $ 358 $ 665 $ 1,023 Provision for restructuring charges associated with Photonics divestiture (a) 112 2 114 Cash payments made (137 ) (128 ) (265 ) Non-cash (75 ) — (75 ) Balance at April 2, 2022 $ 258 $ 539 $ 797 Provision for restructuring charges associated with Photonics divestiture (a) — 4 4 Cash payments made (90 ) (77 ) (167 ) Balance at July 2, 2022 $ 168 (c) $ 466 $ 634 (a) Included in loss from discontinued operations (See Note 2). (b) Acceleration of equity awards. (c) Liability for employee termination costs is included in accrued payroll and related liabilities.

Acquisition of Hia, Inc (Tables

Acquisition of Hia, Inc (Tables)	6 Months Ended
	Jul. 01, 2023
Business Combinations [Abstract]
Schedule of Finite Lived Intangible Assets Acquired as Part of Business Combination	The following table represents the carrying amount of the Hia technology intangible assets at July 1, 2023 (in thousands): Gross carrying amount at July 1, 2023 $ 1,132 Accumulated amortization (110 ) Net carrying amount at July 1, 2023 $ 1,022

Description of Business, Basi_3

Description of Business, Basis of Presentation and Significant Accounting Policy - Additional Information (Detail) - USD ($)	6 Months Ended	12 Months Ended
	Jul. 01, 2023	Dec. 31, 2022
Summary Of Significant Accounting Policies [Line Items]
No write-off of accounts receivable	$ 0	$ 0
Allowance for credit losses	$ 0	$ 0

Divestiture and Discontinued _3

Divestiture and Discontinued Operations - Summary of Cash Flow and Non-cash Information Related to Discontinued Operations (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2023	Jul. 02, 2022	Jul. 01, 2023	Jul. 02, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Equity-based compensation	$ 0	$ 39	$ (260)	$ (291)

Divestiture and Discontinued _4

Divestiture and Discontinued Operations - Summary of Components Discontinued Operations Related to Photonics Segment (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2023	Jul. 02, 2022	Jul. 01, 2023	Jul. 02, 2022
Operating expenses:
Income (loss) from discontinued operations before provision for income taxes	$ (4,802)	$ (2,080)	$ (8,584)	$ (9,774)
Provision for income taxes	116	500	502	526
Net income (loss) from discontinued operations net of taxes	40	(238)	317	(373)
Photonics
Operating expenses:
Operating Expenses	(40)	238	(317)	373
Operating income (loss) – discontinued operations	40	(238)	317	(373)
Other income (expense) – discontinued operations	0	0	0	0
Income (loss) from discontinued operations before provision for income taxes	40	(238)	317	(373)
Provision for income taxes	0	0	0	0
Net income (loss) from discontinued operations net of taxes	40	(238)	317	(373)
Photonics | Selling, general and administrative
Operating expenses:
Operating Expenses	$ (40)	$ 238	$ (317)	$ 373

Divestiture and Discontinued _5

Divestiture and Discontinued Operations - Additional Information (Detail) - EOTECH LLC [Member] - USD ($)	3 Months Ended		6 Months Ended
	Jul. 01, 2023	Jul. 02, 2022	Jul. 01, 2023	Jul. 02, 2022	Dec. 31, 2024	Apr. 01, 2023	Dec. 31, 2022	Dec. 30, 2021
Proceeds from Fees Received		$ 408,000		$ 1,200,000
Sale Of Inventory		$ 32,000		$ 148,000
Accounts Receivable, after Allowance for Credit Loss, Current	$ 41,000		$ 41,000				$ 49,000
Shared Services Agreement [Member]
Proceeds from Fees Received	39,000		65,000
Photonics
Cash								$ 70,000,000
Earnout payment	$ 0		$ 0			$ 30,000,000		$ 30,000,000
Photonics | Subsequent Event [Member]
Earnout payment					$ 14,000,000

Revenue - Disaggregation of Rev

Revenue - Disaggregation of Revenue from Contracts with Customers (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2023	Jul. 02, 2022	Jul. 01, 2023	Jul. 02, 2022
Disaggregation of Revenue [Line Items]
Total net revenues	$ 10,301	$ 9,307	$ 21,843	$ 13,752
TFE
Disaggregation of Revenue [Line Items]
Total net revenues	10,301	9,307	21,843	13,752
TFE | Systems, Upgrades and Spare Parts
Disaggregation of Revenue [Line Items]
Total net revenues	9,372	7,839	19,907	11,015
TFE | Field Service
Disaggregation of Revenue [Line Items]
Total net revenues	929	1,468	1,936	2,737
HDD | TFE
Disaggregation of Revenue [Line Items]
Total net revenues	10,280	9,177	21,804	13,563
HDD | TFE | Systems, Upgrades and Spare Parts
Disaggregation of Revenue [Line Items]
Total net revenues	9,351	7,756	19,868	10,879
HDD | TFE | Field Service
Disaggregation of Revenue [Line Items]
Total net revenues	929	1,421	1,936	2,684
DCP | TFE
Disaggregation of Revenue [Line Items]
Total net revenues		44		44
DCP | TFE | Systems, Upgrades and Spare Parts
Disaggregation of Revenue [Line Items]
Total net revenues		1		1
DCP | TFE | Field Service
Disaggregation of Revenue [Line Items]
Total net revenues		43		43
PV | TFE
Disaggregation of Revenue [Line Items]
Total net revenues	10	86	28	145
PV | TFE | Systems, Upgrades and Spare Parts
Disaggregation of Revenue [Line Items]
Total net revenues	10	82	28	135
PV | TFE | Field Service
Disaggregation of Revenue [Line Items]
Total net revenues	0	$ 4	0	$ 10
ASP | TFE
Disaggregation of Revenue [Line Items]
Total net revenues	11		11
ASP | TFE | Systems, Upgrades and Spare Parts
Disaggregation of Revenue [Line Items]
Total net revenues	11		$ 11
ASP | TFE | Field Service
Disaggregation of Revenue [Line Items]
Total net revenues	$ 0

Revenue - Primary Geography Mar

Revenue - Primary Geography Markets (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2023	Jul. 02, 2022	Jul. 01, 2023	Jul. 02, 2022
Disaggregation of Revenue [Line Items]
Total net revenues	$ 10,301	$ 9,307	$ 21,843	$ 13,752
Products Transferred at a Point in Time
Disaggregation of Revenue [Line Items]
Total net revenues	10,301	9,307	21,843	13,752
Products and Services Transferred Over Time
Disaggregation of Revenue [Line Items]
Total net revenues	0	0	0	0
United States
Disaggregation of Revenue [Line Items]
Total net revenues	662	1,656	2,276	1,950
Asia
Disaggregation of Revenue [Line Items]
Total net revenues	9,628	7,651	19,556	11,802
Europe
Disaggregation of Revenue [Line Items]
Total net revenues	$ 11	$ 0	$ 11	$ 0

Revenue - Changes in Contract A

Revenue - Changes in Contract Assets and Contract Liabilities (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jul. 01, 2023	Dec. 31, 2022
Contract liabilities:
Contract liabilities	$ 22,040	$ 27,105
Contract liabilities:
Change in contract liabilities	(5,065)
Accounts Receivable, Unbilled
Contract assets:
Contract assets	1,023	424
Contract assets:
Change in contract assets	599
Deferred Revenue
Contract liabilities:
Contract liabilities	310	2,446
Contract liabilities:
Change in contract liabilities	(2,136)
Customer Advances
Contract liabilities:
Contract liabilities	21,730	$ 24,659
Contract liabilities:
Change in contract liabilities	$ (2,929)

Revenue - Additional Informatio

Revenue - Additional Information (Detail)	6 Months Ended
	Jul. 01, 2023 USD ($) Installment	May 01, 2023 USD ($)
Revenue From Contract With Customers [Line Items]
Number of installments | Installment	3
Revenue remaining performance obligation	$ 58,200,000
Revenue performance obligation, description of timing	we also refer to as total backlog. We expect to recognize approximately 37.9% of our remaining performance obligations as revenue in 2023 and 62.1% in 2024.
Received customer advances associated with the cancelled order		$ 19,100,000
Cancellation Order Received And Obligation Thereof		$ 54,600,000
Accounts Receivable, Unbilled
Revenue From Contract With Customers [Line Items]
Change in contract assets	$ 599,000
TFE | Accounts Receivable, Unbilled
Revenue From Contract With Customers [Line Items]
Change in contract assets	(599,000)
TFE | Customer Advances
Revenue From Contract With Customers [Line Items]
Contract with customer liability revenue recognized	3,000,000
TFE | Deferred Revenue
Revenue From Contract With Customers [Line Items]
Contract with customer liability revenue recognized	$ 2,200,000

Revenue - Additional Informat_2

Revenue - Additional Information (Detail 1)	Dec. 31, 2024	Dec. 31, 2023
Scenario Forecast
Revenue From Contract With Customers [Line Items]
Revenue, remaining performance obligation, percentage	62.10%	37.90%

Inventories - Summary of Invent

Inventories - Summary of Inventories (Detail) - USD ($) $ in Thousands	Jul. 01, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Raw materials	$ 35,419	$ 19,116
Work-in-progress	10,860	9,499
Finished goods	14	1,388
Inventories	$ 46,293	$ 30,003

Inventories - Additional Inform

Inventories - Additional Information (Detail) $ in Millions	May 01, 2023 USD ($)
Inventory Disclosure [Abstract]
Cancellation order received and obligation thereof	$ 54.6
Received customer advances associated with the cancelled order	19.1
Inventory to take delivery	12.5
Inventory reimburse	$ 11.4

Equity-Based Compensation - Sum

Equity-Based Compensation - Summary of Restricted Stock Units Activity (Detail)	6 Months Ended
	Jul. 01, 2023 $ / shares shares
Restricted Stock Units (RSUs)
Shares
Beginning balance | shares	1,309,792
Granted | shares	277,269
Vested | shares	(442,823)
Cancelled | shares	(74,185)
Ending balance | shares	1,070,053
Weighted Average Grant Date Fair Value
Beginning balance | $ / shares	$ 5.14
Granted | $ / shares	5.4
Vested | $ / shares	5.21
Cancelled and forfeited | $ / shares	5.49
Ending balance | $ / shares	$ 5.15
Performance Based Restricted Stock Units [Member]
Shares
Beginning balance | shares	1,089,339
Granted | shares	525,656
Vested | shares	(190,903)
Cancelled | shares	(7,929)
Ending balance | shares	1,416,163
Weighted Average Grant Date Fair Value
Beginning balance | $ / shares	$ 3.54
Granted | $ / shares	4.92
Vested | $ / shares	4.26
Cancelled and forfeited | $ / shares	6.13
Ending balance | $ / shares	$ 3.94

Equity-Based Compensation - Opt

Equity-Based Compensation - Option Activity and Changes (Detail)	6 Months Ended
	Jul. 01, 2023 $ / shares shares
Shares
Options exercisable at December 31, 2022 | shares	383,099
Options cancelled and forfeited | shares	(41,593)
Options exercised | shares	(52,813)
Options outstanding at July 1, 2023 | shares	288,693
Options exercisable at July 1, 2023 | shares	288,568
Weighted-Average Exercise Price
Options outstanding at December 31, 2022 | $ / shares	$ 7.07
Options cancelled and forfeited | $ / shares	10.59
Options exercised | $ / shares	5.15
Options outstanding at July 1, 2023 | $ / shares	6.91
Options exercisable at July 1, 2023 | $ / shares	$ 6.91

Equity-Based Compensation - Wei

Equity-Based Compensation - Weighted-Average Fair Value of Stock Options and Employee Stock Purchase Rights using Weighted-Average Assumptions (Detail) - $ / shares	3 Months Ended	6 Months Ended
	Jul. 02, 2022	Jul. 01, 2023	Jul. 02, 2022
Stock Purchase Rights
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average fair value of grants per share		$ 2.23	$ 1.85
Expected volatility		34.20%	60.36%
Risk free interest rate		4.47%	0.98%
Expected term of purchase rights (in years)		1 year	1 year 2 months 12 days
Dividend yield		0%	0%
Performance Based Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average fair value of grants per share	$ 3.67		$ 3.67
Expected volatility	54.42%		54.42%
Risk free interest rate	2.82%		2.82%
Dividend yield	0%		0%

Equity-Based Compensation - Eff

Equity-Based Compensation - Effect of Recording Equity-Based Compensation (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2023	Jul. 02, 2022	Jul. 01, 2023	Jul. 02, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation	$ 1,495	$ 1,525	$ 3,076	$ 489
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation	2	8	(11)	(163)
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation	756	729	1,355	336
Performance Based Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation	534	566	1,332	231
Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation	$ 203	$ 222	$ 400	$ 85

Equity-Based Compensation - Add

Equity-Based Compensation - Additional information (Detail) - USD ($)				3 Months Ended		6 Months Ended
	May 31, 2023	May 31, 2022	Jan. 19, 2022	Jul. 01, 2023	Jul. 02, 2022	Jul. 01, 2023	Jul. 02, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Purchase of common stock through payroll deductions				85%
Offering periods				2 years
Maximum employee salary withholdings for purchase of common stock under the terms of the ESPP				50%
Options, expiration period						6 months
Stock issued under Employee Stock Purchase Plans						131,303
Employee stock obligation amount				$ 25,000		$ 25,000
Equity-based compensation				1,495,000	$ 1,525,000	3,076,000	$ 489,000
Discontinued Operations [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation					39,000,000	$ 260,000,000	291,000,000
Segment Continuing Operations [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation				446,000,000			75,000,000
Inducement Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issuance of common stock pursuant to awards granted			1,200,000
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	3 years
Granted						277,269
Share-based compensation arrangement by share-based payment award, award vesting rights, percentage	33%
Equity-based compensation				$ 756,000	$ 729,000	$ 1,355,000	336,000
Restricted Stock Units (RSUs) | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage						3 years
Restricted Stock Units (RSUs) | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage						4 years
2022 Performance Based Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted		935,600
2023 Performance Based Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted	525,656
Forfeiture Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation							1,300,000
Stock Based Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation							$ 37,000,000

Warranty - Balance Sheet Classi

Warranty - Balance Sheet Classification of Warranty Provision Account (Detail) - USD ($) $ in Thousands	Jul. 01, 2023	Apr. 01, 2023	Dec. 31, 2022	Jul. 02, 2022	Apr. 02, 2022	Jan. 01, 2022
Guarantees [Abstract]
Other accrued liabilities	$ 152		$ 163
Other noncurrent liabilities	29		0
Total warranty provision	$ 181	$ 177	$ 163	$ 214	$ 249	$ 346

Warranty - Schedule of Warranty

Warranty - Schedule of Warranty Provision Account (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2023	Jul. 02, 2022	Jul. 01, 2023	Jul. 02, 2022
Guarantees [Abstract]
Opening balance	$ 177	$ 249	$ 163	$ 346
Expenditures incurred under warranties	(67)	(54)	(165)	(225)
Accruals for product warranties issued during the reporting period	72	36	172	72
Adjustments to previously existing warranty accruals	(1)	(17)	11	21
Closing balance	$ 181	$ 214	$ 181	$ 214

Warranty - Additional Informati

Warranty - Additional Information (Detail)	3 Months Ended
	Jul. 01, 2023
Guarantees [Abstract]
Minimum product warranty range	12 months
Maximum product warranty range	24 months

Guarantees - Additional Informa

Guarantees - Additional Information (Detail)	Jul. 01, 2023 USD ($)
Guarantees [Abstract]
Letters of credit and bank guarantees outstanding, amount	$ 785,000
Letters of credit and bank guarantees collateralized by restricted cash	$ 785,000

Cash, Cash Equivalents and In_3

Cash, Cash Equivalents and Investments - Cash, Cash Equivalents and Short-Term Investments and Long-Term Investments (Detail) - USD ($) $ in Thousands	Jul. 01, 2023	Dec. 31, 2022
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 73,414	$ 112,514
Unrealized Holding Gains	0	0
Unrealized Holding Losses	262	484
Fair Value	73,152	112,030
Cash and Cash Equivalents
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	43,978	68,910
Unrealized Holding Gains	0	0
Unrealized Holding Losses	2	6
Fair Value	43,976	68,904
Cash and Cash Equivalents | Cash
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	22,389	26,465
Unrealized Holding Gains	0	0
Unrealized Holding Losses	0	0
Fair Value	22,389	26,465
Cash and Cash Equivalents | Money market funds
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	16,188	9,589
Unrealized Holding Gains	0	0
Unrealized Holding Losses	0	0
Fair Value	16,188	9,589
Cash and Cash Equivalents | Commercial paper
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	5,401	32,856
Unrealized Holding Gains	0	0
Unrealized Holding Losses	2	6
Fair Value	5,399	32,850
Short-term Investments
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	23,844	25,772
Unrealized Holding Gains	0	0
Unrealized Holding Losses	218	231
Fair Value	23,626	25,541
Short-term Investments | Asset backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	1,015	2,012
Unrealized Holding Gains	0	0
Unrealized Holding Losses	1	13
Fair Value	1,014	1,999
Short-term Investments | Corporate bonds and medium-term notes
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	5,673	4,210
Unrealized Holding Gains	0	0
Unrealized Holding Losses	101	32
Fair Value	5,572	4,178
Short-term Investments | Municipal bonds
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	1,220	1,486
Unrealized Holding Gains	0	0
Unrealized Holding Losses	13	25
Fair Value	1,207	1,461
Short-term Investments | U.S. treasury securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	9,024	4,771
Unrealized Holding Gains	0	0
Unrealized Holding Losses	99	123
Fair Value	8,925	4,648
Short-term Investments | Certificates of deposit
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	1,700	3,850
Unrealized Holding Gains	0	0
Unrealized Holding Losses	1	10
Fair Value	1,699	3,840
Short-term Investments | Commercial paper
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	5,212	9,443
Unrealized Holding Gains	0	0
Unrealized Holding Losses	3	28
Fair Value	5,209	9,415
Long-term Investments
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	5,592	17,832
Unrealized Holding Gains	0	0
Unrealized Holding Losses	42	247
Fair Value	5,550	17,585
Long-term Investments | Asset backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	3,162	6,749
Unrealized Holding Gains	0	0
Unrealized Holding Losses	29	85
Fair Value	3,133	6,664
Long-term Investments | Corporate bonds and medium-term notes
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	2,430	5,366
Unrealized Holding Gains	0	0
Unrealized Holding Losses	13	102
Fair Value	$ 2,417	5,264
Long-term Investments | Municipal bonds
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		224
Unrealized Holding Gains		0
Unrealized Holding Losses		6
Fair Value		218
Long-term Investments | U.S. treasury and agency securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		5,493
Unrealized Holding Gains		0
Unrealized Holding Losses		54
Fair Value		$ 5,439

Cash, Cash Equivalents and In_4

Cash, Cash Equivalents and Investments - Contractual Maturities of Available-For-Sale Securities (Detail) $ in Thousands	Jul. 01, 2023 USD ($)
Investments Debt And Equity Securities [Abstract]
Amortized Cost, Due in one year or less	$ 45,433
Amortized Cost, Due after one through five years	5,592
Amortized Cost	51,025
Fair Value, Due in one year or less	45,213
Fair Value, Due after one through five years	5,550
Fair Value	$ 50,763

Cash, Cash Equivalents and In_5

Cash, Cash Equivalents and Investments - Fair Market Value of Investments with Unrealized Losses Not Deemed to be Other-Than Temporarily Impaired (Detail) $ in Thousands	Jul. 01, 2023 USD ($)
Debt Securities, Available-for-sale [Line Items]
Unrealized Loss Position, Less than 12 Months, Fair Value	$ 17,441
Unrealized Loss Position, Less than 12 Months, Gross Unrealized Losses	42
Unrealized Loss Position, Greater than 12 Months, Fair Value	13,988
Unrealized Loss Position, Greater than 12 Months, Gross Unrealized Losses	220
Certificates of deposit
Debt Securities, Available-for-sale [Line Items]
Unrealized Loss Position, Less than 12 Months, Fair Value	499
Unrealized Loss Position, Less than 12 Months, Gross Unrealized Losses	1
Unrealized Loss Position, Greater than 12 Months, Fair Value	0
Unrealized Loss Position, Greater than 12 Months, Gross Unrealized Losses	0
Commercial paper
Debt Securities, Available-for-sale [Line Items]
Unrealized Loss Position, Less than 12 Months, Fair Value	9,458
Unrealized Loss Position, Less than 12 Months, Gross Unrealized Losses	5
Unrealized Loss Position, Greater than 12 Months, Fair Value	0
Unrealized Loss Position, Greater than 12 Months, Gross Unrealized Losses	0
Asset backed securities
Debt Securities, Available-for-sale [Line Items]
Unrealized Loss Position, Less than 12 Months, Fair Value	288
Unrealized Loss Position, Less than 12 Months, Gross Unrealized Losses	2
Unrealized Loss Position, Greater than 12 Months, Fair Value	3,778
Unrealized Loss Position, Greater than 12 Months, Gross Unrealized Losses	28
Corporate bonds and medium-term notes
Debt Securities, Available-for-sale [Line Items]
Unrealized Loss Position, Less than 12 Months, Fair Value	3,171
Unrealized Loss Position, Less than 12 Months, Gross Unrealized Losses	30
Unrealized Loss Position, Greater than 12 Months, Fair Value	4,103
Unrealized Loss Position, Greater than 12 Months, Gross Unrealized Losses	84
Municipal bonds
Debt Securities, Available-for-sale [Line Items]
Unrealized Loss Position, Less than 12 Months, Fair Value	0
Unrealized Loss Position, Less than 12 Months, Gross Unrealized Losses	0
Unrealized Loss Position, Greater than 12 Months, Fair Value	1,207
Unrealized Loss Position, Greater than 12 Months, Gross Unrealized Losses	13
U.S. treasury securities
Debt Securities, Available-for-sale [Line Items]
Unrealized Loss Position, Less than 12 Months, Fair Value	4,025
Unrealized Loss Position, Less than 12 Months, Gross Unrealized Losses	4
Unrealized Loss Position, Greater than 12 Months, Fair Value	4,900
Unrealized Loss Position, Greater than 12 Months, Gross Unrealized Losses	$ 95

Cash, Cash Equivalents and In_6

Cash, Cash Equivalents and Investments - Fair Value Hierarchy of Available-for-Sale Securities Measured at Fair Value on Recurring Basis (Detail) $ in Thousands	Jul. 01, 2023 USD ($)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total recurring fair value measurements	$ 50,763
Fair Value, Measurements, Recurring
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total recurring fair value measurements	50,763
Fair Value, Measurements, Recurring | Money market funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total recurring fair value measurements	16,188
Fair Value, Measurements, Recurring | Certificates of deposit
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total recurring fair value measurements	1,699
Fair Value, Measurements, Recurring | Commercial paper
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total recurring fair value measurements	10,608
Fair Value, Measurements, Recurring | U.S. treasury and agency securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total recurring fair value measurements	8,925
Fair Value, Measurements, Recurring | Corporate bonds and medium-term notes
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total recurring fair value measurements	7,989
Fair Value, Measurements, Recurring | Municipal bonds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total recurring fair value measurements	1,207
Fair Value, Measurements, Recurring | Asset backed securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total recurring fair value measurements	4,147
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total recurring fair value measurements	21,617
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1 | Money market funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total recurring fair value measurements	16,188
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1 | Certificates of deposit
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total recurring fair value measurements	0
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1 | Commercial paper
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total recurring fair value measurements	0
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1 | U.S. treasury and agency securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total recurring fair value measurements	5,429
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1 | Corporate bonds and medium-term notes
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total recurring fair value measurements	0
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1 | Municipal bonds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total recurring fair value measurements	0
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1 | Asset backed securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total recurring fair value measurements	0
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total recurring fair value measurements	29,146
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 | Money market funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total recurring fair value measurements	0
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 | Certificates of deposit
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total recurring fair value measurements	1,699
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 | Commercial paper
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total recurring fair value measurements	10,608
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 | U.S. treasury and agency securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total recurring fair value measurements	3,496
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 | Corporate bonds and medium-term notes
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total recurring fair value measurements	7,989
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 | Municipal bonds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total recurring fair value measurements	1,207
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 | Asset backed securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total recurring fair value measurements	$ 4,147

Cash, Cash Equivalents and In_7

Cash, Cash Equivalents and Investments - Additional Information (Detail)	Jul. 01, 2023 USD ($) investments	Dec. 31, 2022 USD ($)
Derivative Instrument Detail [Abstract]
Allowance for credit losses | $	$ 0	$ 0
Debt securities available-for-sale term	3 years
Debt securities available-for-sale unrealized loss position number of positions | investments	56

Derivative Instruments - Summar

Derivative Instruments - Summary of Outstanding Derivative Instruments on Gross Basis as Recorded in Consolidated Balance Sheets (Detail) - Undesignated Hedges - USD ($) $ in Thousands	Jul. 01, 2023	Dec. 31, 2022
Derivatives, Fair Value [Line Items]
Notional Amounts	$ 1,258	$ 2,240
Derivative Liabilities	6
Derivative Asset		44
Forward Foreign Currency Contracts
Derivatives, Fair Value [Line Items]
Notional Amounts	1,258	2,240
Derivative Liabilities	$ 6
Derivative Asset		$ 44

Equity - Schedule of Changes in

Equity - Schedule of Changes in Stockholders' Equity (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2023	Jul. 02, 2022	Jul. 01, 2023	Jul. 02, 2022
Class of Stock [Line Items]
Beginning balance	$ 120,848	$ 125,815	$ 123,452	$ 134,015
Common stock issued under employee plans	3	1,178	804	2,211
Shares withheld for net share settlement of RSUs	(289)	(160)	(1,563)	(295)
Equity-based compensation expense	1,495	1,525	3,076	489
Net loss	(4,878)	(2,818)	(8,769)	(10,673)
Other comprehensive loss	(176)	(380)	3	(587)
Ending balance	117,003	125,160	117,003	125,160
Common Stock and Additional Paid-in Capital
Class of Stock [Line Items]
Beginning balance	207,489	198,960	206,381	199,098
Common stock issued under employee plans	3	1,178	804	2,211
Shares withheld for net share settlement of RSUs	(289)	(160)	(1,563)	(295)
Equity-based compensation expense	1,495	1,525	3,076	489
Ending balance	208,698	201,503	208,698	201,503
Treasury Stock
Class of Stock [Line Items]
Beginning balance	(29,551)	(29,551)	(29,551)	(29,551)
Ending balance	(29,551)	(29,551)	(29,551)	(29,551)
Accumulated Other Comprehensive Income
Class of Stock [Line Items]
Beginning balance	(14)	371	(193)	578
Other comprehensive loss	(176)	(380)	3	(587)
Ending balance	(190)	(9)	(190)	(9)
Accumulated Deficit
Class of Stock [Line Items]
Beginning balance	(57,076)	(43,965)	(53,185)	(36,110)
Net loss	(4,878)	(2,818)	(8,769)	(10,673)
Ending balance	$ (61,954)	$ (46,783)	$ (61,954)	$ (46,783)

Equity - Changes in Accumulated

Equity - Changes in Accumulated Other Comprehensive Income by Component (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2023	Jul. 02, 2022	Jul. 01, 2023	Jul. 02, 2022
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	$ 120,848	$ 125,815	$ 123,452	$ 134,015
Other comprehensive income (loss), net of tax	(176)	(380)	3	(587)
Ending balance	117,003	125,160	117,003	125,160
Foreign currency
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	301	575	291	608
Other comprehensive income (loss) before reclassification	(229)	(219)	(219)	(252)
Amounts reclassified from other comprehensive income (loss)	0	0	0	0
Other comprehensive income (loss), net of tax	(229)	(219)	(219)	(252)
Ending balance	72	356	72	356
Unrealized holding gains (losses) on available- for-sale investments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(315)	(204)	(484)	(30)
Other comprehensive income (loss) before reclassification	53	(161)	222	(335)
Amounts reclassified from other comprehensive income (loss)	0	0	0	0
Other comprehensive income (loss), net of tax	53	(161)	222	(335)
Ending balance	(262)	(365)	(262)	(365)
Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(14)	371	(193)	578
Other comprehensive income (loss) before reclassification	(176)	(380)	3	(587)
Amounts reclassified from other comprehensive income (loss)	0	0	0	0
Other comprehensive income (loss), net of tax	(176)	(380)	3	(587)
Ending balance	$ (190)	$ (9)	$ (190)	$ (9)

Equity - Additional Information

Equity - Additional Information (Detail) - USD ($) $ in Millions	Aug. 20, 2018	Jul. 01, 2023	Nov. 21, 2013
Equity [Abstract]
Stock repurchase authorized amount	$ 40		$ 30
Increase in stock repurchase program	$ 10
Stock repurchase remained available for future stock repurchase		$ 10.4

Net Loss Per Share - Computatio

Net Loss Per Share - Computation of Basic and Diluted Net Income Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2023	Jul. 02, 2022	Jul. 01, 2023	Jul. 02, 2022
Earnings Per Share [Abstract]
Net loss from continuing operations	$ (4,918)	$ (2,580)	$ (9,086)	$ (10,300)
Net income (loss) from discontinued operations, net of taxes	40	(238)	317	(373)
Net loss	$ (4,878)	$ (2,818)	$ (8,769)	$ (10,673)
Weighted-average shares – basic	26,032	25,141	25,907	24,970
Effect of dilutive potential common shares	0	0	0	0
Weighted-average shares – diluted	26,032	25,141	25,907	24,970
Basic And Diluted Earnings Per Share [Abstract]
Basic – continuing operations	$ (0.19)	$ (0.1)	$ (0.35)	$ (0.41)
Diluted – continuing operations	(0.19)	(0.1)	(0.35)	(0.41)
Basic – discontinued operations	0	(0.01)	0.01	(0.01)
Diluted – discontinued operations	0	(0.01)	0.01	(0.01)
Basic – net loss	(0.19)	(0.11)	(0.34)	(0.43)
Diluted – net loss	$ (0.19)	$ (0.11)	$ (0.34)	$ (0.43)

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jul. 01, 2023	Jul. 02, 2022	Jul. 01, 2023	Jul. 02, 2022
Income Taxes [Line Items]
Provision for income taxes	$ 116,000	$ 500,000	$ 502,000	$ 526,000
Income tax provision on earnings of subsidiaries	44,000	390,000	180,000	364,000
Profit Threshold Upto Which Corporate Alternative Minimum Tax Is Not Applicable	1,000,000,000
Foreign Tax Authority | Singapore
Income Taxes [Line Items]
Income tax charge (benefit)	$ 158,000	$ 107,000	$ 320,000	$ 158,000

Restructuring and Other Costs_3

Restructuring and Other Costs, Net - Changes in Restructuring Reserves (Detail) - USD ($) $ in Thousands	3 Months Ended
	Jul. 01, 2023	Apr. 01, 2023	Jul. 02, 2022	Apr. 02, 2022
Restructuring Cost and Reserve [Line Items]
Beginning balance			$ 797	$ 1,023
Provision for restructuring charges associated with Photonics divestiture			4	114
Cash payments made			(167)	(265)
Non-cash utilization				(75)
Ending balance			634	797
Severance And Other Employee Related Costs [Member]
Restructuring Cost and Reserve [Line Items]
Beginning balance			258	358
Provision for restructuring charges associated with Photonics divestiture			0	112
Cash payments made			(90)	(137)
Non-cash utilization				(75)
Ending balance			168	258
Other Restructuring [Member]
Restructuring Cost and Reserve [Line Items]
Beginning balance	$ 240	$ 318	539	665
Provision for restructuring charges associated with Photonics divestiture	2	3	4	2
Cash payments made	(80)	(81)	(77)	(128)
Non-cash utilization				0
Ending balance	$ 162	$ 240	$ 466	$ 539

Restructuring Charges - Summary

Restructuring Charges - Summary of Restructuring Reserve by Type of Cost (Detail) - USD ($)	3 Months Ended
	Jul. 02, 2022	Apr. 02, 2022
RestructuringCostByTypeOfCost [Line Items]
Beginning balance	$ 797,000	$ 1,023,000
Provision for restructuring charges under the Cost Reduction Plan		37,000
Cash payments made	(167,000)	(265,000)
Ending balance	634,000	797,000
Severance and Other Employee Related Termination Costs [Member]
RestructuringCostByTypeOfCost [Line Items]
Beginning balance	512,000	0
Provision for restructuring charges under the Cost Reduction Plan		1,232,000
Cash payments made	(179,000)	(757,000)
Non-cash utilization		37,000
Ending balance	$ 333,000	$ 512,000

Restructuring and Other Costs_4

Restructuring and Other Costs, Net - Additional Information (Detail)		3 Months Ended			6 Months Ended		12 Months Ended
	Jan. 10, 2022 USD ($) Installment	Jul. 01, 2023 USD ($)	Jul. 02, 2022 USD ($)	Apr. 02, 2022 USD ($)	Jul. 01, 2023 USD ($)	Jul. 02, 2022 USD ($)	Jan. 01, 2022 USD ($)
Restructuring Cost and Reserve [Line Items]
Percentage of reduction of global workforce					6%
Reduction in salary, wages and other employee-related expenses due to implementation of plan					$ 2,100,000
Other Employee benefits expense							$ 693,000
Asset impairment charges	$ 1,200,000						1,200,000
Other Commitment	665,000						$ 665,000
Operating lease, first instalment payments	308,000
Operating lease, quarterly instalment payments	$ 259,000
Number of operating lease payments | Installment	7
Operating cash outflows from operating leases					2,100,000
Restructuring Costs					1,200,000
Provision for restructuring reserves				$ 37,000
Savings in stock based compensation pursuant to restructuring					1,300,000
Share-based Compensation		$ 1,495,000	$ 1,525,000		3,076,000	$ 489,000
Inventory Writeoff					755,000
Disposal of Fixed assets					$ 1,500,000
Severance and Other Employee Related Termination Costs [Member]
Restructuring Cost and Reserve [Line Items]
Provision for restructuring reserves				1,232,000
Share-based Compensation				$ 75,000

Acquisition of Hia, Inc.- Sched

Acquisition of Hia, Inc.- Schedule of Finite Lived Intangible Assets Acquired as Part of Business Combination (Detail) - USD ($) $ in Thousands	Jul. 01, 2023	Dec. 31, 2022
Acquired Finite-Lived Intangible Assets [Line Items]
Accumulated amortization	$ (110)	$ (42)
Net carrying amount	1,022	$ 1,090
Hia Inc
Acquired Finite-Lived Intangible Assets [Line Items]
Gross carrying amount at July 1, 2023	1,132
Accumulated amortization	(110)
Net carrying amount	$ 1,022

Acquisition of Hia, Inc.- Addit

Acquisition of Hia, Inc.- Additional Information (Detail) - USD ($)			3 Months Ended	6 Months Ended
	Jan. 17, 2023	Aug. 26, 2022	Jul. 01, 2023	Jul. 01, 2023	Jul. 02, 2022
Business Combinations [Line Items]
Intangible assets amortized on a straight line basis over a period		8 years 3 months 18 days
Amortization of intangible assets			$ 34,000	$ 68,000	$ 0
Contingent consideration amount	$ 250,000
Hia Inc
Business Combinations [Line Items]
Estimated contingent consideration amounts		$ 500,000
Royalty amount obligated to pay for each magnetic bar sold		1,500
Royalty payment become due and payable immediately if there is effects a change of control or sale,transfer or disposition to other third party net of previously paid amounts		1,700,000
Transaction costs		63,000
Stock Purchase Agreement | Hia Inc
Business Combinations [Line Items]
Aggregate purchase price		$ 700,000
Intangible Assets Amortization Period Fiscal Year 2024 To Fiscal Year 2030 [Member] | Hia Inc | Technology-Based Intangible Assets
Business Combinations [Line Items]
Amortization of intangible assets				136,000
Intangible Assets Amortization Period Remainder Of Fiscal Year [Member] | Hia Inc | Technology-Based Intangible Assets
Business Combinations [Line Items]
Amortization of intangible assets				$ 68,000

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) $ in Millions	3 Months Ended
	Jan. 01, 2022 USD ($)
Commitments and Contingencies [Line Items]
Litigation settlement expense	$ 1

Subsequent Event - Additional I

Subsequent Event - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Oct. 01, 2023	Jul. 01, 2023
Subsequent Event [Line Items]
Percentage of reduction of global workforce		6%
Restructuring costs		$ 1.2
Reduction in salary, wages and other employee-related expenses due to implementation of plan		$ 2.1
Subsequent Event [Member] | 2023 Cost Reduction Plan [Member]
Subsequent Event [Line Items]
Restructuring costs	$ 1.8
Reduction in salary, wages and other employee-related expenses due to implementation of plan	$ 4
Minimum [Member] | Subsequent Event [Member] | 2023 Cost Reduction Plan [Member]
Subsequent Event [Line Items]
Percentage of reduction of global workforce	23%
Maximum [Member] | Subsequent Event [Member] | 2023 Cost Reduction Plan [Member]
Subsequent Event [Line Items]
Percentage of reduction of global workforce	25%