CarParts.com (PRTS) 10-Q 9 Nov 20 2020 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 26, 2020	Nov. 05, 2020
Cover [Abstract]
Document Type	10-Q
Document Period End Date	Sep. 26, 2020
Entity Registrant Name	CARPARTS.COM, INC.
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Interactive Data Current	Yes
Smaller Reporting Company	true
Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		47,926,738
Current Fiscal Year End Date	--01-02
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Entity Central Index Key	0001378950
Amendment Flag	false
Title of 12(g) Security	Common Stock, $0.001 par value per share
Trading Symbol	PRTS
Security Exchange Name	NASDAQ

CONSOLIDATED BALANCE SHEETS (Un

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Sep. 26, 2020	Dec. 28, 2019
Current assets:
Cash and cash equivalents	$ 58,971	$ 2,273
Accounts receivable, net	6,975	2,669
Inventory	76,729	52,500
Other current assets	6,882	4,931
Total current assets	149,557	62,373
Property and equipment, net	12,645	9,650
Right-of-use - assets - operating leases, net	18,256	4,544
Right-of-use - assets - financing leases, net	10,053	9,011
Other non-current assets	2,329	2,368
Total assets	192,840	87,946
Current liabilities:
Accounts payable	49,448	44,433
Accrued expenses	22,630	9,519
Customer deposits	456	652
Notes payable, current		729
Right-of-use - obligation - operating, current	2,285	1,368
Right-of-use - obligation - finance, current	893	640
Other current liabilities	3,182	2,605
Total current liabilities	78,894	59,946
Notes payable, non-current		1,060
Right-of-use - obligation - operating, non-current	16,764	3,419
Right-of-use - obligation - finance, non-current	9,697	8,627
Other non-current liabilities	2,918	2,514
Total liabilities	108,273	75,566
Commitments and contingencies
Stockholders’ equity:
Series A convertible preferred stock, $0.001 par value; $1.45 per share liquidation value or aggregate of $6,017; 4,150 shares authorized; 0 and 2,771 shares issued and outstanding at September 26, 2020 and December 28, 2019	0	3
Common stock, $0.001 par value; 100,000 shares authorized; 47,772 and 36,167 shares issued and outstanding at September 26, 2020 and December 28, 2019 (of which 2,525 are treasury stock)	50	38
Treasury stock	(7,146)	(7,146)
Additional paid-in capital	257,497	187,147
Accumulated other comprehensive income	139	214
Accumulated deficit	(165,973)	(167,876)
Total stockholders’ equity	84,567	12,380
Total liabilities and stockholders’ equity	$ 192,840	$ 87,946

CONSOLIDATED BALANCE SHEETS (_2

CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Sep. 26, 2020	Dec. 28, 2019
Common stock, par value (in USD per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	100,000	100,000
Common stock, shares issued (in shares)	47,772	36,167
Common stock, shares outstanding (in shares)	47,772	36,167
Treasury stock (in shares)	2,525	2,525
Series A Convertible Preferred Stock
Series A convertible preferred stock, par value (in USD per share)	$ 0.001	$ 0.001
Share liquidation value (in USD per share)	$ 1.45	$ 1.45
Share aggregate value	$ 6,017	$ 6,017
Series A convertible preferred stock, shares authorized (in shares)	4,150	4,150
Series A convertible preferred stock, shares issued (in shares)	0	2,771
Series A convertible preferred stock, shares outstanding (in shares)	0	2,771

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE OPERATIONS (Unaudited) - USD ($) shares in Thousands, $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 26, 2020	Sep. 28, 2019	Sep. 26, 2020	Sep. 28, 2019
Income Statement [Abstract]
Net sales		$ 117,406	$ 69,273	$ 324,154	$ 217,698
Cost of sales (1)	[1]	74,285	48,130	210,425	154,663
Gross profit		43,121	21,143	113,729	63,035
Operating expenses
Operating expense		41,389	22,601	110,174	69,144
Income (loss) from operations		1,732	(1,458)	3,555	(6,109)
Other income (expense):
Other, net		6	(1)	80	41
Interest expense		(308)	(517)	(1,461)	(1,411)
Total other expense, net		(302)	(518)	(1,381)	(1,370)
Income (loss) before income taxes		1,430	(1,976)	2,174	(7,479)
Income tax provision (benefit)		45	(552)	199	(1,018)
Net income (loss)		1,385	(1,424)	1,975	(6,461)
Other comprehensive (loss) income
Foreign currency translation adjustments		(38)	19	(73)	(19)
Unrealized gain (loss) on deferred compensation trust assets		35		(2)
Total other comprehensive (loss) income		(3)	19	(75)	(19)
Comprehensive income (loss)		$ 1,382	$ (1,405)	$ 1,900	$ (6,480)
Net income (loss) per share:
Basic net income (loss) per share		$ 0.03	$ (0.04)	$ 0.05	$ (0.18)
Diluted net income (loss) per share		$ 0.03	$ (0.04)	$ 0.04	$ (0.18)
Weighted-average common shares outstanding:
Shares used in computation of basis net income (loss) per share		44,686	35,856	40,314	35,623
Shares used in computation of diluted net income (loss) per share		53,573	35,856	50,386	35,623
[1]	Excludes depreciation and amortization expense which is included in operating expense.

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($) shares in Thousands, $ in Thousands	Preferred StockCumulative Effect Period of Adoption Adjusted Balance	Preferred Stock	Common StockCumulative Effect Period of Adoption Adjusted Balance	Common Stock	Additional Paid-in- CapitalCumulative Effect Period of Adoption Adjusted Balance	Additional Paid-in- Capital	Treasury StockCumulative Effect Period of Adoption Adjusted Balance	Treasury Stock	Accumulated Other Comprehensive Income (Loss)Cumulative Effect Period of Adoption Adjusted Balance	Accumulated Other Comprehensive Income (Loss)	Accumulated DeficitCumulative Effect Period of Adoption Adjustment	Accumulated DeficitCumulative Effect Period of Adoption Adjusted Balance	Accumulated Deficit	Cumulative Effect Period of Adoption Adjustment	Cumulative Effect Period of Adoption Adjusted Balance	Total
Increase (Decrease) in Stockholders' Equity
Effect of new accounting adoption	$ 3	$ 3	$ 38	$ 38	$ 183,139	$ 183,139	$ (7,146)	$ (7,146)	$ 579	$ 579	$ 1,623	$ (136,168)	$ (137,791)	$ 1,623	$ 40,445	$ 38,822
Balance as currently reported at, December 29, 2018 (in shares)	2,771		34,992
Beginning balance (in shares) at Dec. 29, 2018		2,771		34,992
Beginning balance at Dec. 29, 2018	$ 3	$ 3	$ 38	$ 38	183,139	183,139	(7,146)	(7,146)	579	579	1,623	(136,168)	(137,791)	1,623	40,445	38,822
Increase (Decrease) in Stockholders' Equity
Effect of new accounting adoption	3	$ 3	38	$ 38	183,139	183,409	(7,146)	(7,146)	579	574	1,623	(136,168)	(139,788)	1,623	40,445	37,090
Net income (loss)													(3,581)			(3,581)
Issuance of shares in connection with restricted stock units vesting						(288)										(288)
Issuance of shares in connection with restricted stock units vesting (in shares)				437
Issuance of shares in connection with BOD Fees						4										4
Issuance of shares in connection with BOD Fees (in shares)				4
Share-based compensation						554										554
Common stock dividend on preferred stock													(39)			(39)
Effect of changes in foreign currencies										(5)						(5)
Ending balance (in shares) at Mar. 30, 2019		2,771		35,433
Ending balance at Mar. 30, 2019		$ 3		$ 38		183,409		(7,146)		574			(139,788)			37,090
Beginning balance (in shares) at Dec. 29, 2018		2,771		34,992
Beginning balance at Dec. 29, 2018	3	$ 3	38	$ 38	183,139	183,139	(7,146)	(7,146)	579	579	1,623	(136,168)	(137,791)	1,623	40,445	38,822
Increase (Decrease) in Stockholders' Equity
Effect of new accounting adoption	$ 3	$ 3	$ 38	$ 38	$ 183,139	185,033	$ (7,146)	(7,146)	$ 579	560	$ 1,623	$ (136,168)	(142,750)	$ 1,623	$ 40,445	35,738
Net income (loss)																(6,461)
Ending balance (in shares) at Sep. 28, 2019		2,771		35,924
Ending balance at Sep. 28, 2019		$ 3		$ 38		185,033		(7,146)		560			(142,750)			35,738
Increase (Decrease) in Stockholders' Equity
Effect of new accounting adoption		$ 3		$ 38		183,409		(7,146)		574			(139,788)			37,090
Beginning balance (in shares) at Mar. 30, 2019		2,771		35,433
Beginning balance at Mar. 30, 2019		$ 3		$ 38		183,409		(7,146)		574			(139,788)			37,090
Increase (Decrease) in Stockholders' Equity
Effect of new accounting adoption		$ 3		$ 38		184,077		(7,146)		541			(141,286)			36,227
Net income (loss)													(1,457)			(1,457)
Issuance of shares in connection with restricted stock units vesting						(2)										(2)
Issuance of shares in connection with restricted stock units vesting (in shares)				348
Issuance of shares in connection with BOD Fees						5										5
Issuance of shares in connection with BOD Fees (in shares)				3
Share-based compensation						625										625
Common stock dividend on preferred stock						40							(41)			(1)
Effect of changes in foreign currencies										(33)						(33)
Ending balance (in shares) at Jun. 29, 2019		2,771		35,784
Ending balance at Jun. 29, 2019		$ 3		$ 38		184,077		(7,146)		541			(141,286)			36,227
Increase (Decrease) in Stockholders' Equity
Effect of new accounting adoption		3		38		184,077		(7,146)		541			(141,286)			36,227
Effect of new accounting adoption		$ 3		$ 38		185,033		(7,146)		560			(142,750)			35,738
Net income (loss)													(1,424)			(1,424)
Issuance of shares in connection with stock option exercise						100										100
Issuance of shares in connection with stock option exercises (in shares)				100
Issuance of shares in connection with restricted stock units vesting						(2)										(2)
Issuance of shares in connection with restricted stock units vesting (in shares)				2
Issuance of shares in connection with BOD Fees						5										5
Issuance of shares in connection with BOD Fees (in shares)				5
Share-based compensation						813										813
Common stock dividend on preferred stock						40							(40)
Common stock dividend on preferred stock (in shares)				33
Effect of changes in foreign currencies										19						19
Ending balance (in shares) at Sep. 28, 2019		2,771		35,924
Ending balance at Sep. 28, 2019		$ 3		$ 38		185,033		(7,146)		560			(142,750)			35,738
Increase (Decrease) in Stockholders' Equity
Effect of new accounting adoption		3		38		185,033		(7,146)		560			(142,750)			35,738
Effect of new accounting adoption		$ 3		$ 38		187,147		(7,146)		214			(167,876)			12,380
Beginning balance (in shares) at Dec. 28, 2019		2,771		36,167
Beginning balance at Dec. 28, 2019		$ 3		$ 38		187,147		(7,146)		214			(167,876)			12,380
Increase (Decrease) in Stockholders' Equity
Effect of new accounting adoption		$ 3		41		191,043		(7,146)		113			(168,893)			15,161
Net income (loss)													(978)			(978)
Issuance of shares in connection with stock option exercise				$ 1		1,119										1,120
Issuance of shares in connection with stock option exercises (in shares)				523
Issuance of shares in connection with restricted stock units vesting				$ 2		(86)										(84)
Issuance of shares in connection with restricted stock units vesting (in shares)				1,809
Issuance of shares in connection with BOD Fees						6										6
Issuance of shares in connection with BOD Fees (in shares)				3
Share-based compensation						2,819										2,819
Common stock dividend on preferred stock						38							(39)			(1)
Common stock dividend on preferred stock (in shares)				20
Conversion of preferred stock (in shares)		(150)		150
Unrealized gain (loss) on deferred compensation trust assets										(95)						(95)
Effect of changes in foreign currencies										(6)						(6)
Ending balance (in shares) at Mar. 28, 2020		2,621		38,672
Ending balance at Mar. 28, 2020		$ 3		$ 41		191,043		(7,146)		113			(168,893)			15,161
Beginning balance (in shares) at Dec. 28, 2019		2,771		36,167
Beginning balance at Dec. 28, 2019		$ 3		$ 38		187,147		(7,146)		214			(167,876)			12,380
Increase (Decrease) in Stockholders' Equity
Effect of new accounting adoption		3		$ 50		257,497		(7,146)		139			(165,973)			84,567
Net income (loss)																$ 1,975
Issuance of shares in connection with stock option exercises (in shares)																1,793
Unrealized gain (loss) on deferred compensation trust assets																$ (2)
Ending balance (in shares) at Sep. 26, 2020				47,772
Ending balance at Sep. 26, 2020				$ 50		257,497		(7,146)		139			(165,973)			84,567
Increase (Decrease) in Stockholders' Equity
Effect of new accounting adoption		$ 3		$ 41		191,043		(7,146)		113			(168,893)			15,161
Beginning balance (in shares) at Mar. 28, 2020		2,621		38,672
Beginning balance at Mar. 28, 2020		$ 3		$ 41		191,043		(7,146)		113			(168,893)			15,161
Increase (Decrease) in Stockholders' Equity
Effect of new accounting adoption		3		45		194,693		(7,146)		142			(167,358)			20,376
Net income (loss)													1,568			1,568
Issuance of shares in connection with stock option exercise				$ 1		1,772										1,773
Issuance of shares in connection with stock option exercises (in shares)				907
Issuance of shares in connection with restricted stock units vesting						(2)										(2)
Issuance of shares in connection with restricted stock units vesting (in shares)				183
Issuance of shares in connection with BOD Fees						6										6
Issuance of shares in connection with BOD Fees (in shares)				3
Share-based compensation						1,874										1,874
Common stock dividend on preferred stock													(33)			(33)
Common stock dividend on preferred stock (in shares)				25
Conversion of preferred stock		$ (3)		$ 3
Conversion of preferred stock (in shares)		(2,621)		2,621
Unrealized gain (loss) on deferred compensation trust assets										58						58
Effect of changes in foreign currencies										(29)						(29)
Ending balance (in shares) at Jun. 27, 2020				42,411
Ending balance at Jun. 27, 2020				$ 45		194,693		(7,146)		142			(167,358)			20,376
Increase (Decrease) in Stockholders' Equity
Effect of new accounting adoption				45		194,693		(7,146)		142			(167,358)			20,376
Effect of new accounting adoption				50		257,497		(7,146)		139			(165,973)			84,567
Net income (loss)													1,385			1,385
Issuance of common stock, net of underwriters' offering expenses and commissions				$ 5		60,526										60,531
Issuance of common stock, net of underwriters' offering expenses and commissions (in shares)				4,900
Issuance of shares in connection with stock option exercise						504										504
Issuance of shares in connection with stock option exercises (in shares)				459
Issuance of shares in connection with restricted stock units vesting						(5)										(5)
Issuance of shares in connection with restricted stock units vesting (in shares)				1
Issuance of shares in connection with BOD Fees						6										6
Issuance of shares in connection with BOD Fees (in shares)				1
Share-based compensation						1,773										1,773
Unrealized gain (loss) on deferred compensation trust assets										35						35
Effect of changes in foreign currencies										(38)						(38)
Ending balance (in shares) at Sep. 26, 2020				47,772
Ending balance at Sep. 26, 2020				$ 50		257,497		(7,146)		139			(165,973)			84,567
Increase (Decrease) in Stockholders' Equity
Effect of new accounting adoption				$ 50		$ 257,497		$ (7,146)		$ 139			$ (165,973)			$ 84,567

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 26, 2020	Sep. 28, 2019
Operating activities
Net income (loss)	$ 1,975	$ (6,461)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization expense	5,298	4,572
Amortization of intangible assets	75	75
Deferred income taxes		(1,176)
Share-based compensation expense	5,991	1,955
Stock awards issued for non-employee director service	18	13
Loss from disposition of assets	1
Amortization of deferred financing costs	14	2
Changes in operating assets and liabilities:
Accounts receivable	(4,306)	(622)
Inventory	(24,229)	1,927
Other current assets	(1,927)	(731)
Other non-current assets	(622)	775
Accounts payable and accrued expenses	18,062	3,874
Other current liabilities	380	(280)
Right-of-Use Obligation - Operating Leases - Current	902	1,573
Right-of-Use Obligation - Operating Leases - Long-term	(354)	(1,332)
Other non-current liabilities	332	163
Net cash provided by operating activities	1,610	4,327
Investing activities
Additions to property and equipment	(6,936)	(4,686)
Net cash used in investing activities	(6,936)	(4,686)
Financing activities
Borrowings from revolving loan payable	1,394	11,514
Payments made on revolving loan payable	(1,394)	(11,514)
Proceeds from notes payable	4,107	162
Payments of notes payable	(5,333)
Payments on finance leases	(560)	(453)
Net proceeds from issuance of common stock	60,531
Statutory tax withholding payment for share-based compensation	(91)	(290)
Proceeds from exercise of stock options	3,398	99
Preferred stock dividends paid	(33)	(80)
Net cash provided by (used in) financing activities	62,019	(562)
Effect of exchange rate changes on cash	5	(2)
Net change in cash and cash equivalents	56,698	(923)
Cash and cash equivalents, beginning of period	2,273	2,031
Cash and cash equivalents, end of period	58,971	1,108
Supplemental disclosure of non-cash investing and financing activities:
Right-of-use operating asset acquired	14,785	1,684
Right-of-use financed asset acquired	1,900	749
Accrued asset purchases	735	1,200
Share-based compensation expense capitalized in property and equipment	475	37
Supplemental disclosure of cash flow information:
Cash paid during the period for income taxes	113	85
Cash paid during the period for interest	$ 1,603	$ 1,385

Basis of Presentation and Descr

Basis of Presentation and Description of Company	9 Months Ended
	Sep. 26, 2020
Basis of Presentation and Description of Company
Basis of Presentation and Description of Company	Note 1 – Basis of Presentation and Description of Company CarParts.com, Inc. (including its subsidiaries) is a leading online provider of aftermarket auto parts and accessories. The Company sells its products primarily to individual consumers through its flagship website located at www.carparts.com, online marketplaces and offline to wholesale distributors. Our corporate website is also located at www.carparts.com/investor . References to the “Company,” “we,” “us,” or “our” refer to CarParts.com, Inc. and its consolidated subsidiaries. On July 23, 2020, the Company’s Board of Directors approved an amendment to change the name of the Company from U.S. Auto Parts Network, Inc. to CarParts.com, Inc. and subsequently adopted Amendment No. 2 to the Company’s Bylaws. On July 27, 2020, the Company filed a Certificate of Amendment to the Certificate of Incorporation reflecting the change of the Company’s name to CarParts.com, Inc. The Company’s products consist of replacement parts (formerly referred to as collision) serving the wear and tear and body repair market, hard parts (formerly referred to as engine) to serve the maintenance and repair market, and performance parts and accessories. The replacement parts category is primarily comprised of body parts for the exterior of an automobile as well as certain other mechanical or electrical parts that are not related to the functioning of the engine or drivetrain. Our parts in this category typically replace original body parts that have been damaged as a result of general wear and tear or a collision. The majority of these products are sold through our websites. In addition, we sell an extensive line of mirror products, including our own house brand (formerly referred to as private label) called Kool-Vue ® , which are marketed and sold as aftermarket replacement parts and as upgrades to existing parts. The hard parts category is primarily comprised of engine components and other mechanical and electrical parts including our house brand of catalytic converters called Evan Fischer ® . These hard parts serve as replacement parts that are generally used by professionals and do-it-yourselfers for engine and mechanical maintenance and repair. We also offer performance versions of many parts sold in each of the above categories. Performance parts and accessories generally consist of parts that enhance the performance of the automobile, upgrade existing functionality of a specific part or improve the physical appearance or comfort of the automobile. The Company is a Delaware C corporation and is headquartered in Torrance, California. The Company has employees located in both the United States and the Philippines. Basis of Presentation The consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) for interim financial information and with the instructions to U.S. Securities and Exchange Commission (“SEC”) Form 10‑Q and Article 10 of SEC Regulation S-X. In the opinion of management, the accompanying consolidated financial statements contain all adjustments, consisting of normal recurring adjustments, necessary to present fairly the consolidated financial position of the Company as of September 26, 2020 and the consolidated results of operations and cash flows for the thirteen and thirty-nine weeks ended September 26, 2020 and September 28, 2019. The Company’s results for the interim periods are not necessarily indicative of the results that may be expected for any other interim period, or for the full year. These unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the notes thereto included in our Annual Report on Form 10‑K for the year ended December 28, 2019, which was filed with the SEC on March 10, 2020 and all our other periodic filings, including Current Reports on Form 8‑K, filed with the SEC after the end of our 2019 fiscal year, and throughout the date of this report. During the thirteen and thirty-nine weeks ended September 26, 2020, the Company generated net income of $1,385 and $1,975, respectively, compared to a net loss of $1,424 and $6,461 during the thirteen and thirty-nine weeks ended September 28, 2019, respectively. Based on our current operating plan, we believe that our existing cash, cash equivalents, investments, cash flows from operations and available debt financing will be sufficient to finance our operational cash needs through at least the next twelve months. Prior period operating expense amounts have been classified to conform to the current period presentation of operating expense in the consolidated statements of operations. Recently Adopted Accounting Pronouncements In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU’) No. 2018-15, “Intangibles—Goodwill and Other— Internal-Use Software (Subtopic 350-40)” (“ASU 2018-15”). The objective of this update is to align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The Company adopted the standard on December 29, 2019 and the adoption did not have a material impact on the consolidated financial statements. In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, and other subsequent amendments including ASU 2019-04 Codification Improvements to Topic 326, Financial Instruments - Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments , collectively referred to as (“ASC 326”), which provides a new impairment model that require measurement and recognition of expected credit losses for most financial assets and certain other instruments, including but not limited to accounts receivable, contract assets, available for sale securities and certain financial guarantees. The Company adopted the standard on December 29, 2019 and the adoption did not have a material impact on the consolidated financial statements. Recently Early Adopted Accounting Pronouncements In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740) – Simplifying the Accounting for Income Taxes. The update is intended to simplify the current rules regarding the accounting for income taxes and addresses several technical topics including accounting for franchise taxes, allocating income taxes between a loss in continuing operations and in other categories such as discontinued operations, reporting income taxes for legal entities that are not subject to income taxes, and interim accounting for enacted changes in tax laws. The new standard is effective for fiscal years beginning after December 15, 2020; however, early adoption is permitted. The Company early adopted the standard on December 29, 2019 and the adoption did not have a material impact on the consolidated financial statements.

Borrowings

Borrowings	9 Months Ended
	Sep. 26, 2020
Borrowings
Borrowings	Note 2 – Borrowings The Company maintains an asset-based revolving credit facility ("Credit Facility") that provides for, among other things, a revolving commitment in an aggregate principal amount of up to $30,000, which is subject to a borrowing base derived from certain receivables, inventory, and property and equipment. As of September 26, 2020, our outstanding revolving loan balance was $0. The outstanding standby letters of credit balance as of September 26, 2020 was $1,550, and we had $0 of our trade letters of credit outstanding in accounts payable in our consolidated balance sheet. Loans drawn under the Credit Facility bear interest, at the Company’s option, at a per annum rate equal to either (a) LIBOR plus an applicable margin of 1.25% to 1.75% per annum based on the Company's fixed charge coverage ratio, or (b) an “alternate prime base rate” subject to a reduction by 0.25% to 0.75% per annum based on the Company’s fixed charge coverage ratio. As of September 26, 2020, the Company’s LIBOR based interest rate was 1.44% (on $0 principal) and the Company’s prime based rate was 3.00% (on $0 principal). A commitment fee, based upon undrawn availability under the Credit Facility bearing interest at a rate of 0.25% per annum, is payable monthly. Under the terms of the credit agreement with JPMorgan Chase Bank (the "Credit Agreement"), cash receipts are deposited into a lock-box, which are at the Company’s discretion unless the “cash dominion period” is in effect, during which cash receipts will be used to reduce amounts owing under the Credit Agreement. The cash dominion period is triggered in an event of default or if excess availability is less than the $3,600 for three consecutive business days and will continue until, during the preceding 45 consecutive days, no event of default existed and excess availability has been greater than $3,600 at all times (with such trigger subject to adjustment based on the Company’s revolving commitment). In addition, in the event that “excess availability,” as defined under the Credit Agreement, is less than $3,000, the Company shall be required to maintain a minimum fixed charge coverage ratio of 1.0 to 1.0 (with the trigger subject to adjustment based on the Company’s revolving commitment). The Company’s excess availability was $22,519 as of September 26, 2020. As of the date hereof, the cash dominion period has not been in effect; accordingly, no principal payments are due. The Credit Agreement requires us to obtain a prior written consent from JPMorgan Chase Bank when we determine to pay any dividends on or make any distribution with respect to our common stock. The Credit Facility matures on December 16, 2022.

Stockholders' Equity and Share-

Stockholders' Equity and Share-Based Compensation	9 Months Ended
	Sep. 26, 2020
Stockholders' Equity and Share-Based Compensation
Stockholders' Equity and Share-Based Compensation	Note 3 – Stockholders’ Equity and Share-Based Compensation Public Equity Offering On August 18, 2020, the Company completed an underwritten public equity offering of 4,000 shares of its common stock at a public offering price of $13.00 per share, resulting in net proceeds of $48,831 after deducting underwriters’ offering expenses and commissions. As part of the public equity offering, the Company granted the underwriters a 30-day option to purchase up to 900 shares of its common stock at the public offering price. The underwriters subsequently exercised their option in full within 30 days to purchase 900 shares of the Company’s common stock resulting in additional net proceeds of $11,700. The Company intends to use the net proceeds from the public equity offering for working capital and other general corporate purposes. Options and Restricted Stock Units The Company had the following common stock option activity during the thirty-nine weeks ended September 26, 2020: · Granted options to purchase 2,558 common shares. · Exercise of 1,793 options to purchase common shares. · Forfeiture of 175 options to purchase common shares. · Expiration of 617 options to purchase common shares. The following table summarizes the Company’s restricted stock unit ("RSU") activity for the thirty-nine weeks ended September 26, 2020, and details regarding the awards outstanding and exercisable at September 26, 2020 (in thousands): Weighted Average Weighted Remaining Average Contractual Aggregate Shares Exercise Price Term (in years) Intrinsic Value Vested and expected to vest at December 28, 2019 1,654 $ — Awarded 3,536 $ — Vested (2,037) $ — Forfeited (32) $ — Awards outstanding, September 26, 2020 3,121 $ — 2.48 $ 34,862 Vested and expected to vest at September 26, 2020 3,121 $ — 2.48 $ 34,862 During the thirty-nine weeks ended September 26, 2020, 187 RSUs that vested were time-based and 1,787 were performance-based. In addition, 56 shares were released to a departing employee and 7 shares were issued as partial payment for director’s fee as elected by a current Board member. For the RSUs awarded, the number of shares issued on the date of vest is net of the minimum statutory withholding requirements that we pay in cash to the appropriate taxing authorities on behalf of our employees. For those employees who elect not to receive shares net of the minimum statutory withholding requirements, the appropriate taxes are paid directly by the employee. During the thirty-nine weeks ended September 26, 2020, we withheld 37 shares to satisfy $888 of employees’ tax obligations. Although shares withheld are not issued, they are treated as a common stock repurchase in our consolidated financial statements, as they reduce the number of shares that would have been issued upon vesting. For the thirteen and thirty-nine weeks ended September 26, 2020, we recorded compensation costs related to stock options and RSUs of $1,773 and $6,466 , respectively. For the thirteen and thirty-nine weeks ended September 28, 2019, we recorded compensation costs related to stock options and RSUs of $813 and $1,992, respectively. As of September 26, 2020, there was unrecognized compensation expense related to stock options and RSUs of $9,353 that will be expensed through September 2024.

Net Income (Loss) Per Share

Net Income (Loss) Per Share	9 Months Ended
	Sep. 26, 2020
Net Income (Loss) Per Share
Net Income (Loss) Per Share	Note 4 – Net Income (Loss) Per Share The following table sets forth the computation of basic and diluted net income (loss) per share (in thousands, except per share data): Thirteen Weeks Ended Thirty-Nine Weeks Ended September 26, 2020 September 28, 2019 September 26, 2020 September 28, 2019 Net income (loss) per share: Numerator: Net income (loss) $ 1,385 $ (1,424) 1,975 (6,461) Dividends on Series A Convertible Preferred Stock — 40 71 120 Net income (loss) allocable to common shares $ 1,385 $ (1,464) $ 1,904 $ (6,581) Denominator: Weighted-average common shares outstanding (basic) 44,686 35,856 40,314 35,623 Common equivalent shares from common stock options, restricted stock and preferred stock 8,887 — 10,072 — Weighted-average common shares outstanding (diluted) 53,573 35,856 50,386 35,623 Basic net income (loss) per share $ 0.03 $ (0.04) $ 0.05 $ (0.18) Diluted net income (loss) per share $ 0.03 $ (0.04) $ 0.04 $ (0.18) The anti-dilutive securities, which are excluded from the calculation of diluted earnings per share due to their anti-dilutive effect are as follows (in thousands): Thirteen Weeks Ended Thirty-Nine Weeks Ended September 26, 2020 September 28, 2019 September 26, 2020 September 28, 2019 Performance stock units — - — 4 Restricted stock units 4 35 30 72 Series A Convertible Preferred Stock (a) — 2,771 — 2,771 Options to purchase common stock 259 6,855 289 6,540 Total 263 9,661 319 9,387 (a) On June 19, 2020, each outstanding share of the Series A Convertible Preferred Stock (“Preferred Stock”) automatically converted to one share of the Company’s common stock. This automatic conversion was required pursuant to Section 4 of the Preferred Stock purchase agreement (dated March 25, 2013) because the volume weighted average price for the common stock price was equal to, or exceeded, $4.35 for 30 consecutive trading days. The Company issued an aggregate of 2,620,687 shares of common stock in connection with the automatic conversion.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 26, 2020
Income Taxes
Income Taxes	Note 5 – Income Taxes The Company is subject to U.S. federal income tax as well as income tax of foreign and state tax jurisdictions. The tax years 2015‑2019 remain open to examination by the major taxing jurisdictions to which the Company is subject, except the Internal Revenue Service for which the tax years 2016‑2019 remain open. For the thirteen and thirty-nine weeks ended September 26, 2020, the effective tax rate for the Company’s operations was 3.2% and 9.2%, respectively. The effective tax rate differed from the U.S. federal statutory rate primarily due to state income taxes, income of our Philippines subsidiary that is subject to different effective tax rates, share-based compensation that is either not deductible for tax purposes or for which the tax deductible amount is different than the financial reporting amount, and a change in the valuation allowance that offset the tax on the current period pre-tax income. For the thirteen and thirty-nine weeks ended September 28, 2019, the effective tax rate for the Company’s operations was 27.9% and 13.6%, respectively. The effective tax rate differed from the U.S. federal statutory rate primarily due to state income taxes, income of our Philippines subsidiary that is subject to different effective tax rates, and share-based compensation that is either not deductible for tax purposes or for which the tax deductible amount is different than the financial reporting amount. The Company accounts for income taxes in accordance with ASC Topic 740 - Income Taxes (“ASC 740”). Under the provisions of ASC 740, management is required to evaluate whether a valuation allowance should be established against its deferred tax assets. We currently have a full valuation allowance against our deferred tax assets. As of each reporting date, the Company’s management considers new evidence, both positive and negative, that could impact management’s view with regard to future realization of deferred tax assets. For the thirty-nine weeks ended September 26, 2020, there was no material change from fiscal year ended 2019 in the amount of the Company's deferred tax assets that are not considered to be more likely than not to be realized in future years. On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) was enacted in response to the COVID-19 pandemic. The CARES Act contains numerous income tax provisions, such as relaxing limitations on the deductibility of interest and the use of net operating losses arising in taxable years beginning after December 31, 2017. Due to the existence of previously incurred losses, the NOL carryback provisions of the CARES Act did not result in a cash benefit to the Company, however, we do anticipate increased interest expense deductions for tax purposes in 2020 and 2021 as a result of the relaxation of the limitations on the deductibility of interest.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 26, 2020
Commitments and Contingencies Disclosure
Commitments and Contingencies	Note 6 – Commitments and Contingencies Leases During March, April and July 2020, the Company entered into new lease agreements for its Philippines subsidiary, Torrance headquarters and the Texas distribution center, respectively. Philippines office lease: The lease commenced on March 15, 2020 with a ten-year lease term set to expire in March of 2030. The Company is obligated to pay approximately $500 in annual base rent, which shall increase by 5% each year beginning on the second year of the lease term and then increase by 4% each year beginning on the sixth year of the lease term. In accordance with ASU 842 – Leases (“ASC 842”), the Company recorded $5,325 in Right-of-use assets – operating, non-current, and $4,981 in Right-of-use obligation – operating, non-current, with $344 recorded in Right-of-use obligation – operating, current, on the consolidated balance sheet at the commencement of the lease. Torrance headquarters office lease: The lease commenced on April 13, 2020 with a seventy-month lease term set to expire in March of 2026. The Company is obligated to pay approximately $73 in monthly base rent (rent abatement for five months in the first two years), which shall increase by 3% each year beginning on the second-year anniversary of the lease term. In accordance with ASU 842 – Leases (“ASC 842”), the Company recorded $4,338 in Right-of-use assets – operating, non-current, and $3,916 in Right-of-use obligation – operating, non-current, with $422 recorded in Right-of-use obligation – operating, current, on the consolidated balance sheet at the commencement of the lease. Texas distribution center lease: The lease commenced on July 1, 2020 with a ninety-month lease term set to expire in December of 2027. The Company is obligated to pay approximately $48 in monthly base rent (rent abatement for the first six months of the lease term), which shall increase to $71 in monthly base rent beginning on the second-year anniversary of the lease term and then shall increase by 3% each year beginning on the third-year anniversary. In accordance with ASU 842 – Leases (“ASC 842”), the Company recorded $5,469 in Right-of-use assets – operating, non-current, and $5,231 in Right-of-use obligation – operating, non-current, with $238 recorded in Right-of-use obligation – operating, current, on the consolidated balance sheet at the commencement of the lease. Legal Matters Asbestos . A wholly-owned subsidiary of the Company, Automotive Specialty Accessories and Parts, Inc. and its wholly-owned subsidiary Whitney Automotive Group, Inc. ("WAG"), are named defendants in several lawsuits involving claims for damages caused by installation of brakes during the late 1960’s and early 1970’s that contained asbestos. WAG marketed certain brakes, but did not manufacture any brakes. WAG maintains liability insurance coverage to protect its and the Company’s assets from losses arising from the litigation and coverage is provided on an occurrence rather than a claims made basis, and the Company is not expected to incur significant out-of-pocket costs in connection with this matter that would be material to its consolidated financial statements. Customs Issues. On April 2, 2018, the Company filed a complaint against the United States of America, the United States Department of Homeland Security (“DHS”), in the United States Court of International Trade (the “Court”) (Case No. 1:18-cv-00068) seeking (i) relief from a single entry bonding requirement set by the United States Customs and Border Protection (“CBP”), at a level equivalent to three times the commercial invoice value of each shipment (the “Bonding Requirement”), (ii) a declaration that the Bonding Requirement is unlawful, (iii) an injunction prohibiting additional delayed entry for all of the Company’s currently-held goods being denied entry into the United States. The genesis for the action is CBP’s wrongful seizure of aftermarket vehicle grilles and associated parts being imported by the Company (“Repair Grilles”) on the basis that the Repair Grilles allegedly bear counterfeit trademarks of the original automobile manufacturers (i.e., original-equipment manufacturers, or “OEMs”). Generally, these trademarks, as applied against the Company, purport to cover the shape of the grilles themselves, or the OEM’s logo or name. However, the Repair Grilles are not counterfeit and do not cause a likelihood of confusion amongst purchasers or the relevant consuming public which are prerequisites for seizures under the pertinent provision of the Tariff Act being relied upon by CBP to seize the Repair Grilles. On May 25, 2018, the Court granted the Company’s motion for preliminary injunction and ordered, among other things, that the Defendants are restrained from enforcing the 3X Bonding Requirement. On July 24, 2019, the Company further reached confidential terms with CBP to settle these matters. As part of the settlement: (i) Customs will release to the Company certain inventory mistakenly seized, (ii) the Company and CBP enter into mutual releases, and (iii) without admitting liability, the Company will forfeit to CBP certain goods which CBP deems to be violative. All outstanding CBP enforcement issues are resolved, and the Company has no outstanding damage or duty claims from CBP. Ordinary course litigation. The Company is subject to legal proceedings and claims which arise in the ordinary course of its business. As of the date hereof, the Company believes that the final disposition of such matters will not have a material adverse effect on the financial position, results of operations or cash flow of the Company. The Company maintains liability insurance coverage to protect the Company’s assets from losses arising out of or involving activities associated with ongoing and normal business operations.

Product Information

Product Information	9 Months Ended
	Sep. 26, 2020
Product Information
Product Information	Note 7 – Product Information As described in Note 1 above, the Company’s products consist of replacement parts (formerly referred to as collision) serving the wear and tear and body repair market, hard parts (formerly referred to as engine) to serve the maintenance and repair market, and performance parts and accessories. The following table summarizes the approximate distribution of the Company’s revenue by product type. Thirteen Weeks Ended Thirty-Nine Weeks Ended September 26, 2020 September 28, 2019 September 26, 2020 September 28, 2019 House Brands Replacement Parts 70 % 63 % 70 % 60 % Hard Parts 16 % 23 % 18 % 20 % Performance 1 % 1 % 1 % 1 % Branded Replacement Parts 1 % 1 % 1 % 1 % Hard Parts 7 % 6 % 6 % 10 % Performance 5 % 6 % 4 % 8 % Total 100 % 100 % 100 % 100 %

Basis of Presentation and Des_2

Basis of Presentation and Description of Company (Policies)	9 Months Ended
	Sep. 26, 2020
Basis of Presentation and Description of Company
Basis of Presentation	Basis of Presentation The consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) for interim financial information and with the instructions to U.S. Securities and Exchange Commission (“SEC”) Form 10‑Q and Article 10 of SEC Regulation S-X. In the opinion of management, the accompanying consolidated financial statements contain all adjustments, consisting of normal recurring adjustments, necessary to present fairly the consolidated financial position of the Company as of September 26, 2020 and the consolidated results of operations and cash flows for the thirteen and thirty-nine weeks ended September 26, 2020 and September 28, 2019. The Company’s results for the interim periods are not necessarily indicative of the results that may be expected for any other interim period, or for the full year. These unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the notes thereto included in our Annual Report on Form 10‑K for the year ended December 28, 2019, which was filed with the SEC on March 10, 2020 and all our other periodic filings, including Current Reports on Form 8‑K, filed with the SEC after the end of our 2019 fiscal year, and throughout the date of this report. During the thirteen and thirty-nine weeks ended September 26, 2020, the Company generated net income of $1,385 and $1,975, respectively, compared to a net loss of $1,424 and $6,461 during the thirteen and thirty-nine weeks ended September 28, 2019, respectively. Based on our current operating plan, we believe that our existing cash, cash equivalents, investments, cash flows from operations and available debt financing will be sufficient to finance our operational cash needs through at least the next twelve months. Prior period operating expense amounts have been classified to conform to the current period presentation of operating expense in the consolidated statements of operations.
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU’) No. 2018-15, “Intangibles—Goodwill and Other— Internal-Use Software (Subtopic 350-40)” (“ASU 2018-15”). The objective of this update is to align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The Company adopted the standard on December 29, 2019 and the adoption did not have a material impact on the consolidated financial statements. In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, and other subsequent amendments including ASU 2019-04 Codification Improvements to Topic 326, Financial Instruments - Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments , collectively referred to as (“ASC 326”), which provides a new impairment model that require measurement and recognition of expected credit losses for most financial assets and certain other instruments, including but not limited to accounts receivable, contract assets, available for sale securities and certain financial guarantees. The Company adopted the standard on December 29, 2019 and the adoption did not have a material impact on the consolidated financial statements. Recently Early Adopted Accounting Pronouncements In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740) – Simplifying the Accounting for Income Taxes. The update is intended to simplify the current rules regarding the accounting for income taxes and addresses several technical topics including accounting for franchise taxes, allocating income taxes between a loss in continuing operations and in other categories such as discontinued operations, reporting income taxes for legal entities that are not subject to income taxes, and interim accounting for enacted changes in tax laws. The new standard is effective for fiscal years beginning after December 15, 2020; however, early adoption is permitted. The Company early adopted the standard on December 29, 2019 and the adoption did not have a material impact on the consolidated financial statements.

Stockholders' Equity and Shar_2

Stockholders' Equity and Share-Based Compensation (Tables)	9 Months Ended
	Sep. 26, 2020
Stockholders' Equity and Share-Based Compensation
Summary of Restricted Stock Unit Activity	The following table summarizes the Company’s restricted stock unit ("RSU") activity for the thirty-nine weeks ended September 26, 2020, and details regarding the awards outstanding and exercisable at September 26, 2020 (in thousands): Weighted Average Weighted Remaining Average Contractual Aggregate Shares Exercise Price Term (in years) Intrinsic Value Vested and expected to vest at December 28, 2019 1,654 $ — Awarded 3,536 $ — Vested (2,037) $ — Forfeited (32) $ — Awards outstanding, September 26, 2020 3,121 $ — 2.48 $ 34,862 Vested and expected to vest at September 26, 2020 3,121 $ — 2.48 $ 34,862

Net Income (Loss) Per Share (Ta

Net Income (Loss) Per Share (Tables)	9 Months Ended
	Sep. 26, 2020
Net Income (Loss) Per Share
Computation of Basic and Diluted Net Income Per Share	The following table sets forth the computation of basic and diluted net income (loss) per share (in thousands, except per share data): Thirteen Weeks Ended Thirty-Nine Weeks Ended September 26, 2020 September 28, 2019 September 26, 2020 September 28, 2019 Net income (loss) per share: Numerator: Net income (loss) $ 1,385 $ (1,424) 1,975 (6,461) Dividends on Series A Convertible Preferred Stock — 40 71 120 Net income (loss) allocable to common shares $ 1,385 $ (1,464) $ 1,904 $ (6,581) Denominator: Weighted-average common shares outstanding (basic) 44,686 35,856 40,314 35,623 Common equivalent shares from common stock options, restricted stock and preferred stock 8,887 — 10,072 — Weighted-average common shares outstanding (diluted) 53,573 35,856 50,386 35,623 Basic net income (loss) per share $ 0.03 $ (0.04) $ 0.05 $ (0.18) Diluted net income (loss) per share $ 0.03 $ (0.04) $ 0.04 $ (0.18)
Anti-Dilutive Securities Excluded from Calculation of Diluted Earnings Per Share	The anti-dilutive securities, which are excluded from the calculation of diluted earnings per share due to their anti-dilutive effect are as follows (in thousands): Thirteen Weeks Ended Thirty-Nine Weeks Ended September 26, 2020 September 28, 2019 September 26, 2020 September 28, 2019 Performance stock units — - — 4 Restricted stock units 4 35 30 72 Series A Convertible Preferred Stock (a) — 2,771 — 2,771 Options to purchase common stock 259 6,855 289 6,540 Total 263 9,661 319 9,387 On June 19, 2020, each outstanding share of the Series A Convertible Preferred Stock (“Preferred Stock”) automatically converted to one share of the Company’s common stock. This automatic conversion was required pursuant to Section 4 of the Preferred Stock purchase agreement (dated March 25, 2013) because the volume weighted average price for the common stock price was equal to, or exceeded, $4.35 for 30 consecutive trading days. The Company issued an aggregate of 2,620,687 shares of common stock in connection with the automatic conversion.

Product Information (Tables)

Product Information (Tables)	9 Months Ended
	Sep. 26, 2020
Product Information
Summary of Revenue by Product Type	The following table summarizes the approximate distribution of the Company’s revenue by product type. Thirteen Weeks Ended Thirty-Nine Weeks Ended September 26, 2020 September 28, 2019 September 26, 2020 September 28, 2019 House Brands Replacement Parts 70 % 63 % 70 % 60 % Hard Parts 16 % 23 % 18 % 20 % Performance 1 % 1 % 1 % 1 % Branded Replacement Parts 1 % 1 % 1 % 1 % Hard Parts 7 % 6 % 6 % 10 % Performance 5 % 6 % 4 % 8 % Total 100 % 100 % 100 % 100 %

Basis of Presentation and Des_3

Basis of Presentation and Description of Company (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 26, 2020	Jun. 27, 2020	Mar. 28, 2020	Sep. 28, 2019	Jun. 29, 2019	Mar. 30, 2019	Sep. 26, 2020	Sep. 28, 2019
Basis of Presentation and Description of Company
Net income (loss)	$ 1,385	$ 1,568	$ (978)	$ (1,424)	$ (1,457)	$ (3,581)	$ 1,975	$ (6,461)

Borrowings (Details)

Borrowings (Details)	9 Months Ended
	Sep. 26, 2020USD ($)
JP Morgan Chase Bank | Revolving Credit Facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity (up to)	$ 30,000,000
Revolving loan payable	$ 0
Unused credit commitment fee (percent)	0.25%
Credit facility trigger amount	$ 3,600,000
Consecutive business days below minimum excess availability	3 days
Number of consecutive days excess availability is above required amount	45 days
Event of default amount	$ 0
Minimum availability required under availability block	$ 3,000,000
Minimum fixed charge ratio if less than minimum excess availability	1
Excess availability under credit facility	$ 22,519,000
Principal payments due	0
JP Morgan Chase Bank | Letter of Credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity (up to)	1,550,000
Outstanding letters of credit amount	$ 0
One-Month London Interbank Offered Rate (LIBOR) | Revolving Credit Facility
Line of Credit Facility [Line Items]
Applicable margin for LIBOR-based interest rate and applicable margin for alternate based rate (percent)	1.25%
Base Rate | Revolving Credit Facility
Line of Credit Facility [Line Items]
Applicable margin for LIBOR-based interest rate and applicable margin for alternate based rate (percent)	1.75%
Base Rate | JP Morgan Chase Bank | Revolving Credit Facility
Line of Credit Facility [Line Items]
Interest rate (percent)	3.00%
LIBOR based interest rate, principal amount	$ 0
London Interbank Offered Rate (LIBOR) | JP Morgan Chase Bank | Revolving Credit Facility
Line of Credit Facility [Line Items]
Interest rate (percent)	1.44%
LIBOR based interest rate, principal amount	$ 0
Prime rate | Revolving Credit Facility | Maximum
Line of Credit Facility [Line Items]
Applicable margin for LIBOR-based interest rate and applicable margin for alternate based rate (percent)	0.25%
Prime rate | Revolving Credit Facility | Minimum
Line of Credit Facility [Line Items]
Applicable margin for LIBOR-based interest rate and applicable margin for alternate based rate (percent)	0.75%

Stockholders' Equity and Shar_3

Stockholders' Equity and Share-Based Compensation - Narrative (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	Aug. 18, 2020	Sep. 26, 2020	Sep. 28, 2019	Sep. 26, 2020	Sep. 28, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Net proceeds from issuance of common stock				$ 60,531
Number of shares granted (in shares)				2,558
Number of options exercised (in shares)				1,793
Number of stock options forfeited (in shares)				175
Number of stock options expired (in shares)				617
Number of share awards released to a departing employee				56
Number of share awards issued for payment of fees.				7
Public equity offering
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issuance of common stock, net of underwriters' offering expenses and commissions (in shares)	4,000
Offering price (in dollars per share)	$ 13
Net proceeds from issuance of common stock	$ 48,831
Over-Allotment Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issuance of common stock, net of underwriters' offering expenses and commissions (in shares)	900
Net proceeds from issuance of common stock	$ 11,700
Period of underwriters option	30 days
Time Based RSU
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vested (in shares)				187
Performance based RSU
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vested (in shares)				1,787
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vested (in shares)				2,037
Shares withheld to satisfy employee tax obligations (in shares)				37
Adjustment related employee tax obligations				$ 888
Compensation expense				6,466	$ 1,992
Unrecognized compensation expense		$ 9,353		$ 9,353
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense		$ 1,773	$ 813

Stockholders' Equity and Shar_4

Stockholders' Equity and Share-Based Compensation - Summary of Restricted Stock Unit Activity (Details) - Restricted stock units shares in Thousands, $ in Thousands	9 Months Ended
	Sep. 26, 2020USD ($)shares
Shares
Vested and expected to vest at December 28, 2019 (in shares)	1,654
Awarded (in shares)	3,536
Vested (in shares)	(2,037)
Forfeited (in shares)	(32)
Awards outstanding, September 26, 2020	3,121
Vested and expected to vest at September 26, 2020 (in shares)	3,121
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract]
Awards outstanding, weighted average remaining contractual term (in years)	2 years 5 months 23 days
Vested and expected to vest, weighted average remaining contractual term (in years	2 years 5 months 23 days
Awards outstanding, aggregate intrinsic value | $	$ 34,862
Vested and expected to vest, aggregate intrinsic value | $	$ 34,862

Net Income (Loss) Per Share - (

Net Income (Loss) Per Share - (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 26, 2020	Sep. 28, 2019	Sep. 26, 2020	Sep. 28, 2019
Numerator:
Net income (loss)	$ 1,385	$ (1,424)	$ 1,975	$ (6,461)
Dividends on Series A Convertible Preferred Stock		40	71	120
Net income (loss) allocable to common shares	$ 1,385	$ (1,464)	$ 1,904	$ (6,581)
Denominator:
Weighted Average Number of Shares Outstanding, Basic	44,686	35,856	40,314	35,623
Common equivalent shares from common stock options, restricted stock and preferred stock	8,887		10,072
Weighted-average common shares outstanding (diluted) (in shares)	53,573	35,856	50,386	35,623
Basic net income (loss) per share	$ 0.03	$ (0.04)	$ 0.05	$ (0.18)
Diluted net income (loss) per share	$ 0.03	$ (0.04)	$ 0.04	$ (0.18)

Net Income (Loss) Per Share - A

Net Income (Loss) Per Share - Anti-Dilutive Securities (Details)	Jun. 19, 2020$ / sharesshares	Sep. 26, 2020shares	Sep. 28, 2019shares	Sep. 26, 2020shares	Sep. 28, 2019shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from calculation of diluted earnings per share (in shares)		263,000	9,661,000	319,000	9,387,000
Performance stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from calculation of diluted earnings per share (in shares)					4,000
Restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from calculation of diluted earnings per share (in shares)		4,000	35,000	30,000	72,000
Series A Convertible Preferred Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from calculation of diluted earnings per share (in shares)			2,771,000		2,771,000
Stock conversion ratio	1
Minimum weighted average common stock price | $ / shares	$ 4.35
Maintenance of weighted average price trading days	30 days
Conversion of preferred stock (in shares)	2,620,687
Options to purchase common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from calculation of diluted earnings per share (in shares)		259,000	6,855,000	289,000	6,540,000

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended		9 Months Ended
	Sep. 26, 2020	Sep. 28, 2019	Sep. 26, 2020	Sep. 28, 2019
Income Taxes
Effective tax rate	3.20%	27.90%	9.20%	13.60%

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details)	Jul. 01, 2020USD ($)	Apr. 13, 2020USD ($)	Mar. 15, 2020USD ($)	Sep. 26, 2020USD ($)	Dec. 28, 2019USD ($)	Jul. 24, 2019USD ($)
Other Commitments [Line Items]
Right-of-use - assets - operating leases, net				$ 18,256,000	$ 4,544,000
Right-of-use - obligation - operating, non-current				16,764,000	3,419,000
Right-of-use - obligation - operating, current				$ 2,285,000	$ 1,368,000
Number of outstanding damage or duty claims from CBP						0
Philippines
Other Commitments [Line Items]
Term of lease			10 years
Annual base rent commitment			$ 500,000
Annual escalation, percentage			5.00%
Annual escalation percentage after five year			4
Right-of-use - assets - operating leases, net			$ 5,325,000
Right-of-use - obligation - operating, non-current			4,981,000
Right-of-use - obligation - operating, current			$ 344,000
California
Other Commitments [Line Items]
Term of lease		70 months
Annual base rent commitment		$ 73,000
Rent Free Term in Initial Two Year		5 months
Annual escalation, percentage		3.00%
Right-of-use - assets - operating leases, net		$ 4,338,000
Right-of-use - obligation - operating, non-current		3,916,000
Right-of-use - obligation - operating, current		$ 422,000
TEXAS
Other Commitments [Line Items]
Term of lease	90 months
Annual base rent commitment	$ 48,000
Rent Free Term From Lease Initiation	6 months
Annual escalation, percentage	3.00%
Operating Leases, Annual Base Rent From Year Two	$ 71,000
Right-of-use - assets - operating leases, net	5,469,000
Right-of-use - obligation - operating, non-current	5,231,000
Right-of-use - obligation - operating, current	$ 238,000

Product Information (Details)

Product Information (Details) - Sales Revenue, Product Line - Product Concentration Risk - Base USAP	3 Months Ended		9 Months Ended
	Sep. 26, 2020	Sep. 28, 2019	Sep. 26, 2020	Sep. 28, 2019
Segment Reporting Information [Line Items]
Concentration risk percentage	100.00%	100.00%	100.00%	100.00%
House Brands, Replacement parts
Segment Reporting Information [Line Items]
Concentration risk percentage	70.00%	63.00%	70.00%	60.00%
House Brands, Hard parts
Segment Reporting Information [Line Items]
Concentration risk percentage	16.00%	23.00%	18.00%	20.00%
House Brands, Performance
Segment Reporting Information [Line Items]
Concentration risk percentage	1.00%	1.00%	1.00%	1.00%
Branded, Replacement parts
Segment Reporting Information [Line Items]
Concentration risk percentage	1.00%	1.00%	1.00%	1.00%
Branded, Hard parts
Segment Reporting Information [Line Items]
Concentration risk percentage	7.00%	6.00%	6.00%	10.00%
Branded, Performance
Segment Reporting Information [Line Items]
Concentration risk percentage	5.00%	6.00%	4.00%	8.00%