Snap One (SNPO) 10-Q 13 May 22 2022 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Apr. 01, 2022	May 11, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Apr. 1, 2022
Document Transition Report	false
Entity File Number	001-40683
Entity Registrant Name	SNAP ONE HOLDINGS CORP.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	82-1952221
Entity Address, Address Line One	1800 Continental Boulevard
Entity Address, Address Line Two	Suite 200
Entity Address, City or Town	Charlotte
Entity Address, State or Province	NC
Entity Address, Postal Zip Code	28273
City Area Code	704
Local Phone Number	927-7620
Title of 12(b) Security	Common stock, par value $.01 per share
Trading Symbol	SNPO
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		75,878,413
Amendment Flag	false
Entity Central Index Key	0001856430
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Apr. 01, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 25,055	$ 40,577
Accounts receivable, net	57,151	52,620
Inventories, net	241,468	210,964
Prepaid expenses and other current assets	34,578	35,114
Total current assets	358,252	339,275
Long-term assets:
Property and equipment, net	23,654	22,603
Goodwill	590,166	580,761
Other intangible assets, net	588,740	587,192
Operating lease right-of-use assets	41,835
Other assets	9,849	10,550
Total assets	1,612,496	1,540,381
Current liabilities:
Current maturities of long-term debt	3,488	3,488
Accounts payable	72,938	72,781
Accrued liabilities	68,739	75,517
Current operating lease liability	12,594
Current tax receivable agreement liability	11,038	0
Total current liabilities	168,797	151,786
Long-term liabilities:
Revolving credit facility, net	35,571	0
Long-term debt, net of current portion	449,638	449,256
Deferred income tax liabilities, net	49,481	48,555
Operating lease liability, net of current portion	32,204
Tax receivable agreement liability, net of current portion	101,368	112,406
Other liabilities	23,813	30,103
Total liabilities	860,872	792,106
Commitments and contingencies (Note 15)
Stockholders’ equity:
Common stock, $0.01 par value, 500,000 shares authorized; 74,487 shares issued and outstanding as of April 1, 2022 and 74,427 shares issued and outstanding at December 31, 2021	745	744
Preferred stock, $0.01 par value; 50,000 shares authorized, no shares issued and outstanding	0	0
Additional paid-in capital	832,316	826,718
Accumulated deficit	(81,656)	(79,420)
Accumulated other comprehensive (loss) income	(22)	(28)
Company’s stockholders’ equity	751,383	748,014
Noncontrolling interest	241	261
Total stockholders’ equity	751,624	748,275
Total liabilities and stockholders’ equity	$ 1,612,496	$ 1,540,381

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Apr. 01, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, shares issued (in shares)	74,480,000	74,427,000
Common stock, shares outstanding (in shares)	74,480,000	74,427,000
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	50,000,000	50,000,000
Preferred stock, shares outstanding (in shares)	0	0
Preferred stock, shares issued (in shares)	0	0

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Apr. 01, 2022	Mar. 26, 2021
Income Statement [Abstract]
Net sales	$ 277,434	$ 220,468
Costs and expenses:
Cost of sales, exclusive of depreciation and amortization	172,332	128,876
Selling, general and administrative expenses	86,527	75,357
Depreciation and amortization	14,889	13,712
Total costs and expenses	273,748	217,945
Income from operations	3,686	2,523
Other expenses (income):
Interest expense	6,723	9,535
Other expense (income), net	(420)	(213)
Total other expenses	6,303	9,322
Loss before income taxes	(2,617)	(6,799)
Income tax benefit	(361)	(763)
Net loss	(2,256)	(6,036)
Net loss attributable to noncontrolling interest	(20)	(22)
Net loss attributable to Company	$ (2,236)	$ (6,014)
Net (loss) income per share, basic (in dollars per share)	$ (0.03)	$ (0.10)
Net (loss) income per share, diluted (in dollars per share)	$ (0.03)	$ (0.10)
Weighted-average shares outstanding - basic (in shares)	74,464	59,217
Weighted-average shares outstanding - diluted (in shares)	74,464	59,217

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive (Loss) Income - USD ($) $ in Thousands	3 Months Ended
	Apr. 01, 2022	Mar. 26, 2021
Statement of Comprehensive Income [Abstract]
Net loss	$ (2,256)	$ (6,036)
Other comprehensive (loss) income, net of tax:
Foreign currency translation adjustments	6	(52)
Comprehensive loss	(2,250)	(6,088)
Comprehensive loss attributable to noncontrolling interest	(20)	(22)
Comprehensive loss attributable to Company	$ (2,230)	$ (6,066)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders’ Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Accumulated Other Comprehensive Income (Loss)	Noncontrolling Interest
Balance at beginning of period (in shares) at Dec. 25, 2020		59,217,000
Balance at beginning of period at Dec. 25, 2020	$ 617,739	$ 592	$ 659,093	$ (43,018)	$ 756	$ 316
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(6,036)			(6,014)		(22)
Foreign currency translation adjustments	(52)				(52)
Equity-based compensation	1,060		1,060
Balance at end of period (in shares) at Mar. 26, 2021		59,217,000
Balance at end of period at Mar. 26, 2021	$ 612,711	$ 592	660,153	(49,032)	704	294
Balance at beginning of period (in shares) at Dec. 31, 2021	74,427,000	74,427,000
Balance at beginning of period at Dec. 31, 2021	$ 748,275	$ 744	826,718	(79,420)	(28)	261
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(2,256)			(2,236)		(20)
Foreign currency translation adjustments	6				6
Equity-based compensation	5,599		5,599
Issuance of common stock pursuant to equity incentive plans (in shares)		53,000
Issuance of common stock pursuant to equity incentive plans	$ 0	$ 1	(1)
Balance at end of period (in shares) at Apr. 01, 2022	74,480,000	74,480,000
Balance at end of period at Apr. 01, 2022	$ 751,624	$ 745	$ 832,316	$ (81,656)	$ (22)	$ 241

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Apr. 01, 2022	Mar. 26, 2021
Cash flows from operating activities:
Net loss	$ (2,256)	$ (6,036)
Adjustments to reconcile net loss to net cash from operating activities:
Depreciation and amortization	14,889	13,712
Amortization of debt issuance costs	458	1,525
Deferred income taxes	(2,965)	(795)
Loss on sale and disposal of property and equipment	0	259
Equity-based compensation	5,599	1,060
Non-cash operating lease expense	2,985	0
Bad debt expense	74	76
Fair value adjustment to contingent value rights	(2,800)	1,310
Change in operating assets and liabilities:
Accounts receivable	(2,804)	(7,027)
Inventories	(25,032)	(10,548)
Prepaid expenses and other assets	2,269	(2,653)
Accounts payable, accrued liabilities and operating lease liabilities	(13,439)	(14,750)
Net cash used in operating activities	(23,022)	(23,867)
Cash flows from investing activities:
Acquisition of business, net of cash acquired	(25,639)	0
Purchases of property and equipment	(3,312)	(2,050)
Issuance of notes receivable	(600)	0
Other	30	(429)
Net cash used in investing activities	(29,521)	(2,479)
Cash flows from financing activities:
Payments on long-term debt	0	(1,797)
Proceeds from revolving credit facility	37,000	0
Payment of deferred initial public offering costs	0	(349)
Net cash provided by (used in) financing activities	37,000	(2,146)
Effect of exchange rate changes on cash and cash equivalents	21	(23)
Net decrease in cash and cash equivalents	(15,522)	(28,515)
Cash and cash equivalents at beginning of the period	40,577	77,458
Cash and cash equivalents at end of the period	25,055	48,943
Supplementary cash flow information:
Cash paid for interest	7,710	8,106
Cash paid for taxes, net	1,018	485
Noncash investing and financing activities:
Capital expenditure in accounts payable	$ 305	$ 67

Organization and Description of

Organization and Description of Business	3 Months Ended
	Apr. 01, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Description of Business	Organization and Description of Business Snap One Holdings Corp. (referred to herein as “Snap One” or the “Company”) is incorporated in Delaware with its principal executive offices located in Charlotte, North Carolina and Draper, Utah. The Company provides products, services, and software to its network of professional integrators that enable them to deliver smart living experiences for their residential and small business end users. The Company’s hardware and software portfolio includes leading proprietary and third-party offerings across connected, infrastructure, and entertainment categories. Additionally, the Company provides technology-enabled workflow solutions to support the integrator throughout the project lifecycle, enhancing their operations and helping them to profitably grow their businesses. Initial Public Offering — On July 30, 2021, the Company completed its initial public offering (“IPO”) of 13,850 shares of its common stock, and on August 18, 2021, completed the sale of 1,171 shares of additional common stock to the underwriters pursuant to their option to purchase additional shares, at an offering price of $18.00 per share. The Company raised net proceeds of $249,154 through the IPO, after deducting underwriting discounts and other offering costs of $21,219. During the three months ended March 26, 2021, the Company expensed $1,711 of IPO-related costs. There were no expenses related to the IPO during the three months ended April 1, 2022. The Company’s registration statement on Form S-1 (File No. 333-257624) relating to its IPO was declared effective by the Securities and Exchange Commission (the “SEC”) on July 27, 2021.

Significant Accounting Policies

Significant Accounting Policies	3 Months Ended
	Apr. 01, 2022
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies Basis of Presentation — The accompanying condensed consolidated financial statements are unaudited and have been prepared in conformity with generally accepted accounting principles in the United States of America (“GAAP”) for interim financial statements. The condensed consolidated financial statements were prepared on the same basis as the audited consolidated financial statements and, in the opinion of management, reflect all adjustments, consisting of normal recurring adjustments, necessary to present fairly the Company’s financial position, results of operations and cash flows for the periods presented. The condensed consolidated financial statements include the accounts of the Company and all subsidiaries required to be consolidated. All intercompany balances and transactions have been eliminated in the condensed consolidated financial statements. The condensed consolidated balance sheet as of December 31, 2021, has been derived from the audited consolidated financial statements of the Company. The accompanying condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and related notes for the fiscal year ended December 31, 2021, appearing in the Company’s Annual Report on Form 10-K for the annual period ended December 31, 2021, as amended by the Form 10-K/A filed with the Securities and Exchange Commission on April 25, 2022 (as amended, the “Annual Report”). The Company’s fiscal year is the 52- or 53-week period that ends on the last Friday of December. Fiscal year 2022 is a 52-week period, and fiscal year 2021 was a 53-week period. The three months ended April 1, 2022, and March 26, 2021, were 13-week periods. Use of Accounting Estimates — The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported and disclosed in the condensed consolidated financial statements and accompanying notes. Accordingly, the actual amounts could differ from those estimates. If actual amounts differ from estimates, revisions are included in the condensed consolidated statements of operations in the period the actual amounts become known. Recent Accounting Pronouncements Pending Adoption — In March 2020, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting (Accounting Standards Codification 848, “ASC 848”) . The amendments in this ASU were put forth in response to the market transition from the London Interbank Offered Rate (“LIBOR”) and other interbank offered rates to alternative reference rates. GAAP requires entities to evaluate whether a contract modification, such as the replacement or change of a reference rate, results in the establishment of a new contract or continuation of an existing contract. ASC 848 allows an entity to elect not to apply certain modification accounting requirements to contracts affected by reference rate reform. The standard provides this temporary election through December 31, 2022 and cannot be applied to contract modifications that occur after December 31, 2022. In January 2021, the FASB issued ASU 2021-01, Reference Rate Reform (Topic 848) . The objective of the new reference rate reform standard is to clarify the scope of Topic 848 and provide explicit guidance to help companies applying optional expedients and exceptions. This ASU is effective immediately for all entities that have applied optional expedients and exceptions. The Company is in the process of evaluating the effect that the adoption of this standard will have on our financial position and results of operations. In October, 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 606): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers , which requires that an entity recognize and measure contract assets and liabilities from contracts with customers in a business combination in accordance with ASC 606 as if it had originated the contracts. The amendment in this update is effective for fiscal years beginning after December 15, 2022, with early adoption permitted. The guidance should be applied prospectively to business combinations occurring on or after the effective date of the amendment in this update. The Company is in the process of evaluating the effect that the adoption of this standard will have on our financial position and results of operations. Recently Adopted Accounting Pronouncements — In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) , which establishes the principles to report transparent and economically neutral information about the assets and liabilities that arise from leases. This new guidance requires lessees to recognize the lease assets and lease liabilities that arise from leases in the statement of financial position and to disclose qualitative and quantitative information about lease transactions, such as information about variable lease payments and options to renew and terminate leases. Recently, the FASB issued ASU 2020-05, which deferred the effective date to fiscal years beginning after December 15, 2021, and interim periods within fiscal years beginning after December 15, 2022. The Company adopted the new leasing standard as of January 1, 2022, using the modified retrospective approach. Therefore, results for reporting periods beginning after January 1, 2022 are presented under Topic 842 , while comparative information has not been restated and continues to be reported under accounting standards in effect for those periods. There was not a cumulative-effect adjustment to accumulated deficit at the beginning of the period of adoption. In adopting the new guidance, the Company elected the package of practical expedients permitted under the transition guidance within the standard, which eliminates the reassessment of whether existing contracts contain leases, lease classification and capitalization of initial direct costs. The Company also elected an accounting policy to not recognize assets or liabilities for leases with a term of less than 12 months, to not separate lease and non-lease components for all asset classes and not elect to use the hindsight practical expedient. The adoption of the new leasing standard resulted in the recognition of approximately $40,906 and $43,862 of right-of-use (“ROU”) assets and lease liabilities, respectively, on the Company’s condensed consolidated balance sheets for its operating lease commitments. The difference between the ROU assets and lease liabilities is primarily attributable to deferred rent and lease incentives. The adoption of the standard did not have a material impact on the Company’s condensed consolidated statements of operations or on the condensed consolidated statements of cash flows. In June 2016, the FASB issued ASU 2016-13, Financial Instruments — Credit Losses . The ASU sets forth a current expected credit loss (“CECL”) model which requires the Company to measure all expected credit losses for financial instruments held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. This replaces the existing incurred loss model and is applicable to the measurement of credit losses on financial assets measured at amortized cost and applies to some off-balance sheet credit exposures. This ASU was effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years, with early adoption permitted. In November 2019, the FASB issued ASU 2019-10 which deferred the effective date to fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The Company early adopted the standard for the fiscal year beginning January 1, 2022. Adoption of the standard did not have a material impact on the condensed consolidated financial statements.

Acquisitions

Acquisitions	3 Months Ended
	Apr. 01, 2022
Business Combination and Asset Acquisition [Abstract]
Acquisitions	Acquisitions The Company has had one acquisition in 2022 as described below, and it has been accounted for under ASC 805, Business Combinations . Accordingly, the accounts of the acquired company, after adjustments to reflect fair values assigned to assets and liabilities, have been included in the consolidated financial statements from the date of acquisition. There was one acquisition during the year ended December 31, 2021, when the Company acquired the issued and outstanding shares of ANLA, LLC. (“Access Networks”), an enterprise-grade networking solutions provider offering networking products, design, configuration, monitoring and support services. On January 20, 2022, the Company, through its wholly owned subsidiary, Snap One Acquisition Corp., entered into a Purchase Agreement (“Purchase Agreement”) pursuant to which it acquired the issued and outstanding shares of Staub Electronics, LTD. (“Staub”), a long-time Canadian distribution partner. The acquisition adds two Canadian locations to the Company’s distribution footprint. The Company agreed to a purchase price of $26,395. The Company recorded tangible and intangible assets acquired and liabilities assumed in the transaction according to the acquisition method of accounting, under ASC 805, Business Combinations . The consideration was allocated to the assets acquired and liabilities assumed based on their fair values as of the closing date and are subject to change within the measurement period, which does not exceed twelve months after the closing date. The purchase price allocation and consideration are considered preliminary based on potential working capital adjustments. The Company allocated any excess purchase price over the fair value of the net tangible and intangible assets acquired and liabilities assumed to goodwill. Customer relationships have been valued using the multi-period excess earnings method, a derivative of the income approach. The multi-period excess earnings method estimates the discounted net earnings attributable to the customer relationships that were acquired after considering items such as possible customer attrition. Estimated useful lives were determined based on the length and trend of projected cash flows. The length of the projected cash flow period was determined based on the expected attrition of the customer relationships, which is based on the Company’s historical experience in renewing and extending similar customer relationships and future expectations for renewing and extending similar existing customer relationships. The useful life of the customer relationships intangible assets represents the number of years over which the Company expects the customer relationships to economically contribute to the business. The trade name has been valued using the relief from royalty method under the income approach to estimate the cost savings that will accrue to the Company, which would otherwise have to pay royalties or license fees on revenue earned by using the asset. Estimated useful life was determined based on management’s estimate of the period of time the name will be in use. The preliminary allocation of the purchase price for the acquisition is as follows: Total purchase consideration $ 26,395 Cash and cash equivalents $ 756 Accounts receivable 1,801 Inventory 5,472 Prepaid expenses 1,616 Property and equipment 451 Operating lease right-of-use assets 2,309 Identifiable intangible assets 14,209 Total identifiable assets acquired 26,614 Accounts payable 1,570 Accrued liabilities 2,174 Current operating lease liability 343 Deferred income tax liabilities 3,585 Operating lease liability, net of current portion 1,953 Total liabilities assumed 9,625 Net identifiable assets acquired 16,989 Goodwill 9,406 Net assets acquired $ 26,395 The Company recorded intangible assets related to the acquisition based on estimated fair value, which consisted of the following: Useful Lives Acquired Value Customer relationships 10 $ 12,684 Trade name 6 1,525 Total intangible assets $ 14,209 The Company recognized $328 of transaction-related expenses, consisting primarily of advisory, legal, and other professional fees related to the acquisition. These transaction-related expenses were incurred by and for the benefit of the Company, and were included in selling, general, and administrative expenses in the condensed consolidated statements of operations. Pro forma financial information related to the Staub acquisition has not been provided as it is not material to the Company’s consolidated results of operations. The results of operations of the Staub acquisition are included in the Company’s consolidated results of operations from the date of acquisition and were not significant for the three months ended April 1, 2022.

Revenue and Geographic Informat

Revenue and Geographic Information	3 Months Ended
	Apr. 01, 2022
Revenue from Contract with Customer [Abstract]
Revenue and Geographic Information	Revenue and Geographic Information Contract Balances — Amounts invoiced in advance of revenue recognition are recorded as deferred revenue on the condensed consolidated balance sheets. Deferred revenue primarily relates to unspecified software updates and upgrades, hosting, technical support, marketing incentive programs, and subscription services. The following table represents the changes in deferred revenue for the three months ended April 1, 2022, and March 26, 2021: Three Months Ended April 1, March 26, Deferred revenue – beginning of period $ 33,385 $ 30,466 Amounts billed, but not recognized 8,531 6,661 Recognition of revenue (7,281) (6,063) Deferred revenue – end of period $ 34,635 $ 31,064 The Company recorded deferred revenue of $22,197 in accrued liabilities and $12,438 in other liabilities as of April 1, 2022. The Company recorded deferred revenue of $20,944 in accrued liabilities and $12,441 in other liabilities as of December 31, 2021. Disaggregation of Revenue — The following table sets forth revenue by geography between the United States and all geographies outside of the United States for the three months ended April 1, 2022 and March 26, 2021: Three Months Ended April 1, March 26, United States integrators (a) $ 225,406 $ 185,663 United States other (b) 13,353 8,415 International (c) 38,675 26,390 Total $ 277,434 $ 220,468 (a) United States integrators is defined as professional “do-it-for-me” integrator customers who transact with Snap One through a traditional integrator channel and excludes the impact of recently acquired businesses domestically. (b) United States other is defined as recently acquired entities and revenue generated through managed transactions with non-integrator customers, such as national accounts. (c) International consists of all integrators and distributors who transact with Snap One outside of the United States. The following table sets forth revenue by product type between proprietary products and third-party products for the three months ended April 1, 2022, and March 26, 2021: Three Months Ended April 1, March 26, Proprietary products (a) $ 187,797 $ 152,037 Third-party products (b) 89,637 68,431 Total $ 277,434 $ 220,468 (a) Proprietary products consist of product and services internally developed by Snap One and sold under one of Snap One’s proprietary brands. (b) Third-party products consist of product that Snap One distributes but does not own the intellectual property. Additionally, the Company’s revenue includes amounts recognized over time and at a point in time, and are as follows for the three months ended April 1, 2022, and March 26, 2021: Three Months Ended April 1, March 26, Products transferred at a point in time $ 270,153 $ 214,405 Services transferred over time 7,281 6,063 Total $ 277,434 $ 220,468 As of April 1, 2022, and December 31, 2021, the Company’s accounts receivable, net consisted of the following: April 1, December 31, Accounts receivable $ 59,653 $ 55,088 Allowance for doubtful accounts (2,502) (2,468) Accounts receivable, net $ 57,151 $ 52,620

Inventories, Net

Inventories, Net	3 Months Ended
	Apr. 01, 2022
Inventory Disclosure [Abstract]
Inventories, Net	Inventories, Net As of April 1, 2022, and December 31, 2021, the Company’s inventory consisted of the following: April 1, December 31, Finished goods $ 238,849 $ 210,540 Raw materials 12,825 10,454 Work in process 399 548 Reserve for obsolete and slow-moving inventory (10,605) (10,578) Total inventories, net $ 241,468 $ 210,964

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets, Net	3 Months Ended
	Apr. 01, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets, Net	Goodwill and Other Intangible Assets, Net Goodwill as of April 1, 2022, and December 31, 2021, was $590,166 and $580,761, respectively. Goodwill increased by $9,406 in 2022 due to the acquisition of Staub. During the year ended December 31, 2021, Goodwill increased by $21,026 due to the acquisition of Access Networks. See Note 3 of the Notes to the Condensed Consolidated Financial Statements for more information regarding Staub. As of April 1, 2022, and December 31, 2021, other intangible assets, net, consisted of the following: April 1, 2022 Estimated Gross Carrying Accumulated Net Carrying Customer relationships 5 – 25 years $ 521,846 $ (103,143) $ 418,703 Technology 5 – 15 years 95,078 (42,175) 52,903 Trade names – definite 2 – 10 years 59,185 (18,615) 40,570 Trade names – indefinite indefinite 76,564 — 76,564 Total intangible assets $ 752,673 $ (163,933) $ 588,740 December 31, 2021 Estimated Gross Carrying Accumulated Net Carrying Customer relationships 5 – 25 years $ 509,162 $ (96,149) $ 413,013 Technology 5 – 15 years 95,078 (38,221) 56,857 Trade names – definite 2 – 10 years 57,660 (16,902) 40,758 Trade names – indefinite indefinite 76,564 — 76,564 Total intangible assets $ 738,464 $ (151,272) $ 587,192 Total amortization expense for intangible assets for the three months ended April 1, 2022, and March 26, 2021, was $12,661 and $11,888, respectively. The weighted-average useful life remaining for amortizing definite lived intangible assets was approximately 14.9 years as of April 1, 2022. As of April 1, 2022, the estimated amortization expense for intangible assets for the next five fiscal years and thereafter are as follows: Remainder of 2022 $ 37,220 2023 48,756 2024 42,255 2025 34,638 2026 34,638 2027 and thereafter 314,669 Total $ 512,176

Debt Agreements

Debt Agreements	3 Months Ended
	Apr. 01, 2022
Debt Disclosure [Abstract]
Debt Agreements	Debt AgreementsOn August 4, 2017, the Company’s wholly owned subsidiary, Wirepath LLC (“Borrower”) entered into a credit agreement (as amended from time to time, “Old Credit Agreement”), consisting of a senior secured term loan (“Initial Term Loan”) and a senior secured revolving credit facility (“Old Revolving Credit Facility”). On February 5, 2018, the Borrower repriced the Old Credit Agreement to reduce the margin on the Initial Term Loan and Old Revolving Credit Facility. On October 31, 2018, the Borrower repriced the Initial Term Loan facility to further reduce the margin under the Initial Term Loan, increased the aggregate amount of the Initial Term Loan, and further reduced the margin under the Old Revolving Credit Facility. On August 1, 2019, the Borrower amended the Old Credit Agreement to borrow an additional senior secured term loan (“Incremental Term Loan” and, together with the Initial Term Loan, as amended, “Old Term Loans”) and increased the commitments under the Old Revolving Credit Facility. The Company made fixed equal quarterly installments on the Old Term Loans in an amount equal to 1.0% per annum of the total aggregate principal thereof immediately after borrowing, with balance due at maturity. On August 4, 2021, the Company used a portion of the net proceeds from the IPO to prepay $216,902 in aggregate of the amount of the Incremental Term Loan outstanding under the Old Credit Agreement. The prepayment consisted of $215,874 in principal plus accrued interest of $1,028. In connection with the prepayment, the Company incurred a charge of $6,645 related to the write off of the proportionate amount of the unamortized debt issuance costs at the time of the prepayment which was recorded in loss on extinguishment of debt on the Company’s consolidated statement of operations. The unamortized debt issuance costs are allocated between the remaining original loan balance and the portion of the loan paid down on a pro-rata basis. On December 8, 2021, the Company entered into a Credit Agreement (the “Credit Agreement”) with various financial institutions consisting of a $465,000 in aggregate principal amount of senior secured term loans maturing in seven years (the “New Term Loan”) and a $100,000 senior secured revolving credit facility (which includes borrowing capacity available for letters of credit) maturing in five years (the “New Revolving Credit Facility”). In connection with the closing of the Credit Agreement, the Company repaid in full approximately $451,400 of borrowings, including accrued interest, under the Old Credit Agreement. The Old Term Loans and Old Revolving Credit Facility and related agreements and documents under the Old Credit Agreement were terminated upon the effectiveness of the Credit Agreement. Borrowings under the New Term Loan will bear interest at a rate per annum equal to, at the Company’s option, either (1) an applicable margin plus a base rate determined by reference to the highest of (a) 0.50% per annum plus the federal funds effective rate, (b) the prime rate and (c) the eurocurrency rate determined by reference to the cost of funds for U.S. dollar deposits for an interest period of one month adjusted for certain additional costs, plus 1.00%; provided that such rate is not lower than a floor of 1.50% or (2) an applicable margin plus a eurocurrency rate determined by reference to the cost of funds for U.S. dollar deposits for the interest period relevant to such borrowing adjusted for certain additional costs; provided that such rate is not lower than a floor of 0.50%. Borrowings under the New Revolving Credit Facility will bear interest at a rate per annum equal to an applicable margin based upon a leverage-based pricing grid, plus, at the Company’s option, either (1) a base rate determined by reference to the highest of (a) 0.50% per annum plus the federal funds effective rate, (b) the prime rate and (c) the eurocurrency rate determined by reference to the cost of funds adjusted for certain additional costs, plus 1.00%; provided such rate is not lower than a floor of 1.00% or (2) a eurocurrency rate determined by reference to the applicable cost of funds for such borrowing adjusted for certain additional costs; provided such rate is not lower than a floor of zero. As of April 1, 2022, the interest rates for the New Term Loan and the New Revolving Credit Facility were 5.00%. The New Term Loan amortizes in fixed equal quarterly installments in an amount equal to 1.0% per annum of the total aggregate principal amount thereof immediately after borrowing, with the balance due at maturity. The Company may voluntarily prepay loans or reduce commitments under the Credit Agreement, in whole or in part, subject to minimum amounts, with prior notice but without premium or penalty (subject to customary exceptions, including prepayments of the New Term Loan in connection with a repricing transaction that is consummated prior to June 8, 2022). Instrument Maturity Date 4/1/2022 12/31/2021 Credit Agreement New Term Loan 12/8/2028 $ 465,000 $ 465,000 New Revolving Credit Facility 12/8/2026 $ 37,000 $ — The Company may also be required to make additional payments under the financing agreement equal to a percentage of the Company’s annual excess cash flows or net proceeds from any non-ordinary course asset sales or certain debt issuances, if any. The lender has the option to decline the prepayment. As of April 1, 2022, the Company had $37,000 outstanding under the New Revolving Credit Facility. As of December 31, 2021, the Company had no borrowings outstanding under the New Revolving Credit Facility. As of April 1, 2022 and December 31, 2021, the Company had $4,894 of outstanding letters of credit. The amount available under the New Revolving Credit Facility was $58,106 and $95,106 as of April 1, 2022, and December 31, 2021. As of April 1, 2022, the future scheduled maturities of the above notes payable are as follows: Remainder of 2022 $ 3,488 2023 4,650 2024 3,488 2025 4,650 2026 41,650 2027 5,813 Thereafter 438,262 Total future maturities of debt 502,001 Unamortized debt issuance costs (13,304) Total indebtedness 488,697 Less: Current maturities of long-term debt 3,488 Long-term debt and revolving credit facility $ 485,209 Unamortized costs related to the issuance of the New Term Loan were $11,875 and $12,256 as of April 1, 2022, and December 31, 2021, and were presented as a direct deduction from the carrying amount of long-term debt. Unamortized costs related to the issuance of the New Revolving Credit Facility were $1,429 as of April 1, 2022, and were presented as a direct deduction from the carrying amount of the revolving credit facility. As of December 31, 2021, unamortized costs related to the issuance of the New Revolving Credit Facility were $1,506 and were included in other assets. The costs related to debt issuances are amortized to interest expense over the life of the related debt. As of April 1, 2022, the future amortization of debt issuance costs was as follows: Remainder of 2022 $ 1,400 2023 1,925 2024 1,993 2025 2,066 2026 2,123 2027 1,918 Thereafter 1,879 Total $ 13,304 Debt Covenants and Default Provisions — There have been no changes to the debt covenants or default provisions related to the Company’s outstanding debt arrangements or other obligations during the current year. The Company was in compliance with all debt covenants as of April 1, 2022, and December 31, 2021. For additional information on the Company’s debt arrangements, debt covenants and default provisions, see Note 8 of the Notes to the Consolidated Financial Statements for the year ended December 31, 2021, in the Annual Report.

Fair Value Measurement

Fair Value Measurement	3 Months Ended
	Apr. 01, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurement	Fair Value Measurement Fair Value of Financial Instruments — The fair values and related carrying values of financial instruments that are not required to be remeasured at fair value on the condensed consolidated statements of operations were as follows: As of April 1, 2022 As of December 31, 2021 Carrying Amount Fair Value Carrying Amount Fair Value Assets Notes receivable, net $ 7,228 $ 7,293 $ 6,484 $ 6,764 Liabilities New Term Loan $ 465,000 $ 459,188 $ 465,000 $ 462,675 The fair value of notes receivable are estimated using a discounted cash flow analysis using interest rates currently offered for loans with similar credit quality which represent Level 2 inputs, and are included in other assets on the balance sheet. The fair value of long-term debt was established using current market rates for similar instruments traded in secondary markets representing Level 2 inputs. The fair value of the Revolving Credit Facility approximates carrying value as the related interest rates approximate the Company’s incremental borrowing rate for similar obligations. Additionally, cash and cash equivalents, accounts receivable, net, prepaid expenses, accounts payable, and accrued liabilities are classified as Level 1 and the carrying value of these assets and liabilities approximates the fair value due to the short-term nature of these financial instruments. Assets and Liabilities that are Measured at Fair Value on a Recurring Basis — The fair value of the interest rate cap is determined using widely accepted valuation techniques based on its maturity and observable market-based inputs, including interest rate curves. This measurement is considered a Level 2 measurement. The interest rate cap expired on December 31, 2021 and had no value as of December 31, 2021. The Company utilizes a Monte Carlo simulation in an option pricing framework, where a range of possible scenarios are simulated, in order to determine the fair value of the contingent value rights (“CVRs”). Any future increase in the fair value of the CVR obligations, based on an increased likelihood that the underlying milestones will be achieved, and the associated payment or payments will, therefore, become due and payable, will result in a charge to selling, general and administrative expenses in the period in which the increase is determined. Similarly, any future decrease in the fair value of the CVR obligations will result in a reduction in selling, general and administrative expenses. CVR liabilities are categorized as other liabilities in the accompanying condensed consolidated balance sheets and are classified as Level 3. Fair value at April 1, 2022 Valuation Technique Unobservable Input Volatility Contingent Value Rights $6,100 Monte Carlo Volatility 45 and 50% Changes in the CVRs for the three months ended April 1, 2022, and March 26, 2021 were as follows: April 1, March 26, CVR fair value – beginning of period $ 8,900 $ 4,000 Fair value adjustments (2,800) 1,310 CVR fair value – end of period $ 6,100 $ 5,310 There were no transfers into or out of Level 3 during the three months ended April 1, 2022, or March 26, 2021.

Accrued Liabilities

Accrued Liabilities	3 Months Ended
	Apr. 01, 2022
Payables and Accruals [Abstract]
Accrued Liabilities	Accrued Liabilities Accrued liabilities as of April 1, 2022, and December 31, 2021, consisted of the following: April 1, December 31, Deferred revenue $ 22,197 $ 20,944 Warranty reserve 12,218 14,549 Payroll, vacation, and bonus accruals 14,313 21,340 Customer rebate program 4,138 4,775 Sales return allowance 4,062 3,999 Taxes 2,380 1,774 Contingent consideration 2,000 — Incurred but not reported self-insurance 1,660 1,556 Interest payable 78 1,523 Other accrued liabilities 5,693 5,057 Total accrued liabilities $ 68,739 $ 75,517

Warranties

Warranties	3 Months Ended
	Apr. 01, 2022
Guarantees and Product Warranties [Abstract]
Warranties	Warranties Changes in the Company’s accrued warranty liability for the three months ended April 1, 2022, and March 26, 2021, are as follows: April 1, March 26, Accrued warranty – beginning of period $ 18,772 $ 16,523 Warranty claims (2,323) (4,002) Warranty provisions 175 5,707 Accrued warranty – end of period $ 16,624 $ 18,228 As of April 1, 2022, the Company has recorded accrued warranty liabilities of $12,218 in accrued liabilities and $4,406 in other liabilities in the accompanying consolidated balance sheet. As of December 31, 2021, the Company has recorded accrued warranty liabilities of $14,549 in accrued liabilities and $4,223 in other liabi lities.

Retirement Plan

Retirement Plan	3 Months Ended
	Apr. 01, 2022
Retirement Benefits [Abstract]
Retirement Plan	Retirement PlanThe Company has a 401(k) plan

Equity Agreements and Incentive

Equity Agreements and Incentive Equity Plans	3 Months Ended
	Apr. 01, 2022
Share-based Payment Arrangement [Abstract]
Equity Agreements and Incentive Equity Plans	Equity Agreements and Incentive Equity Plans Former Parent Incentive Plan — In October 2017, the Former Parent Entity approved the Class B Unit Incentive Plan (the “2017 Plan”) pursuant to the Company’s partnership agreement. Class B-1 Incentive Units (“B-1 Units”) issued under the 2017 Plan vest in installments over a five-year period, subject to the grantee’s continued employment or service. Class B-2 Incentive Units (“B-2 Units” and collectively with the B-1 Units, “Incentive Units”) issued under the 2017 Plan contain both service conditions consistent with the B-1 Units and market-based vesting conditions that require the achievement of a specified return hurdle to the controlling shareholders in order to vest. The Company recognized $1,060 of compensation expense within selling, general and administrative expenses related to Incentive Units for the three months ended March 26, 2021. 2021 Incentive Plan — On July 16, 2021, the Company adopted the 2021 Equity Incentive Plan (the “2021 Plan”) in order to provide a means through which to attract, retain, and motivate key personnel. Awards available for grant under the 2021 Plan include non-qualified and incentive stock options, restricted shares of our common stock, other equity-based awards tied to the value of our common stock and cash-based awards. Equity Award Conversion — During the year ended December 31, 2021, and in connection with the IPO, all outstanding unvested Incentive Units were replaced with newly issued shares of our restricted common stock. Vested Incentive Units were exchanged into shares of our common stock using the same formula as unvested Incentive Units (together, the “Equity Award Conversion”). The restricted shares of common stock that the holders received in exchange for their unvested B-1 Units are subject to the same vesting terms that applied to the B-1 Units prior to the Equity Award Conversion. The restricted stock awards issued to replace B-2 Units vest based upon achievement of one or more hurdles, which are substantially the same as the previous market-condition vesting criteria of the B-2 Units. Although the restricted stock awards that replace the B-2 Units do not contain an explicit service condition, the vesting is subject to continued employment, resulting in a derived service period. For additional information on the Equity Award Conversion, see Note 13 of the Notes to the Consolidated Financial Statements for the year ended December 31, 2021, in the Annual Report. Restricted Stock Awards In connection with the IPO, the Company issued restricted common stock to holders of unvested B-1 Units and B-2 Units. The grant date fair value of restricted stock awards was determined to be $18.00 per share, based on the initial listing price of the Company’s common stock on the grant date. The summary of the Company’s restricted stock awards activity is as follows: Restricted Stock Awards B-1 Incentive Units B-2 Incentive Units Number of Weighted- Average Grant-Date Fair Value Number of Weighted- Average Grant-Date Fair Value Outstanding at December 31, 2021 633 $ 18.00 807 $ 18.00 Granted — — — — Vested 53 18.00 — — Forfeited 7 18.00 — — Outstanding at April 1, 2022 573 $ 18.00 807 $ 18.00 Stock Options In connection with the IPO, the Company granted options to holders of B-1 Units (“Time-based Options”) and options to holders of B-2 Units (“Market-based Options” and collectively with the Time-based Options, “Leverage Replacement Options”), as further discussed in Note 13 of the Notes to the Consolidated Financial Statements for the year ended December 31, 2021, in the Annual Report. The summary of the Company’s option activity is as follows: Time-based Options Market-based Options Number of Weighted- Average Grant-Date Fair Value Aggregate Intrinsic Value (a) Number of Weighted- Average Grant-Date Fair Value Aggregate Intrinsic Value (a) Outstanding at December 31, 2021 4,393 $ 6.49 $ 13,532 1,155 $ 5.66 $ 3,558 Granted — — — — — — Exercised — — — — — — Forfeited 52 6.82 — — — — Outstanding at April 1, 2022 4,341 $ 6.48 $ — 1,155 $ 5.66 $ — Options exercisable at April 1, 2022 2,501 $ 6.09 $ — — $ — $ — (a) The intrinsic value represents the amount by which the fair value of the Company’s stock exceeds the option exercise price as of April 1, 2022. Restricted Stock Units — The Company grants restricted stock units (“RSUs”) with time-based vesting requirements under the 2021 Plan. These RSUs typically have an initial annual cliff vest and then vest quarterly over the remaining service period, which is generally one The summary of the Company’s RSU activity is as follows: Restricted Stock Units Number of Weighted-Average Grant-Date Fair Value Outstanding at December 31, 2021 390 $ 18.22 Granted 803 20.42 Vested — — Forfeited 13 19.95 Outstanding at April 1, 2022 1,180 $ 19.70 Performance Stock Units — During the three months ended April 1, 2022, the Company granted performance-based restricted stock units (“PSUs”) to certain employees under the 2021 Plan. The fair value of PSUs granted is based on the Company’s closing stock price on the date of grant. Each PSU grant vests in annual tranches over a three-year service period. Total units earned for grants may vary between 0% and 200% of the units granted based on the attainment of net sales and company-specific adjusted EBITDA targets during the performance period (generally the fiscal year of the date of the grant) and upon continued service. Compensation expense for PSUs is recognized on a graded-vesting basis if it is probable that the performance conditions will be achieved. Adjustments to compensation expense are made each period based on changes in our estimate of the number of PSUs that are probable of vesting. PSUs will vest with continued service and upon achievement of the relevant performance targets. The summary of the Company’s PSU activity is as follows: Performance Stock Units Number of Weighted-Average Grant-Date Fair Value Outstanding at December 31, 2021 — $ — Granted 368 20.46 Exercised — — Forfeited — — Outstanding at April 1, 2022 368 $ 20.46 Other equity-based compensation — In connection with the Staub acquisition (see Note 3), the Company granted 69 shares of common stock with an aggregate fair value of $1,208 to a key executive. The shares are accounted for as equity-based compensation because the shares are subject to forfeiture based on post-acquisition time-based service vesting. The shares vest annually in equal installments over a three-year service period beginning on the acquisition date. The grant date fair value of the shares was determined to be $17.42 per share based on the Company’s closing stock price on the date of the grant. Total equity-based compensation expense — Equity-based compensation expense is included within selling, general and administrative expenses in the accompanying condensed consolidated statements of operations. For all equity-based compensation awards, the Company recognizes forfeitures as they occur. Compensation expense for the three months ended April 1, 2022 and unrecognized stock compensation expense and weighted average remaining expense period as of April 1, 2022 consisted of: Compensation Expense As of April 1, 2022 Three months ended April 1, 2022 Unrecognized Compensation Expense Weighted-Average Remaining Contractual Term (Years) 2021 Plan Restricted stock awards $ 1,145 $ 7,581 1.75 Time-based options 1,729 12,366 2.29 Market-based options 645 4,780 1.84 Restricted stock units 1,436 20,155 3.20 Performance stock units 565 6,965 1.89 Other equity-based compensation 79 1,129 2.80 Total $ 5,599 $ 52,976 2.27 Control4 Equity Awards — In connection with the acquisition of Control4 Corporation (“Control4”) in 2019, the Company agreed to a settlement of Control4 equity awards that were outstanding immediately prior to the acquisition date, consisting of stock options and restricted stock units. As of the acquisition date, 2,998 shares of Control4 awards were cancelled and converted into rights to receive cash payments (“Replacement Awards”). The Company recognized $283 and $1,726 of compensation expense relating to the Replacement Awards within selling, general and administrative expenses in the accompanying condensed consolidated statement of operations during the three months ended April 1, 2022 and March 26, 2021, respectively. The unrecognized compensation expense related to the unvested Replacement Awards, which is expected to be recognized subsequent to April 1, 2022, is not significant.

Income Taxes

Income Taxes	3 Months Ended
	Apr. 01, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The effective income tax rate for the Company was a benefit of 13.8% for the three months ended April 1, 2022, as compared to 11.3% for the three months ended March 26, 2021. The change in the effective tax rate for the three months ended April 1, 2022, and the difference from the U.S. federal statutory rate of 21%, was primarily the result of allocation of income between jurisdictions, low pretax book income as compared to tax expense and a change in the state deferred rate. Income tax benefit was $361 during the three months ended April 1, 2022, compared to a benefit of $763 during the three months ended March 26, 2021.

Tax Receivable Agreement

Tax Receivable Agreement	3 Months Ended
	Apr. 01, 2022
Tax Receivable Agreement [Abstract]
Tax Receivable Agreement	Tax Receivable Agreement On July 29, 2021, the Company executed a tax receivable agreement (“TRA”) with certain pre-IPO owners (“TRA Participants”). The TRA provides for payment by the Company to the TRA Participants of 85% of the amount of cash savings, if any, in U.S. federal, state and local income tax that the Company utilizes in the future from net operating losses and certain other tax benefits that arose prior to the IPO. The Company recognizes this contingent liability in its condensed consolidated financial statements when incurrence of the liability becomes probable and amounts are reasonably estimable. Subsequent changes to the measurement of the TRA liability are recognized in the statements of income as a component of other (expense) income, net. The Company will retain the benefit of the remaining 15% of these cash tax savings. Payments under the TRA will not begin until after the filing of the Company’s 2021 federal tax return. If the Company does not have taxable income (before considering deductions that are subject to the TRA), it is not required (absent circumstances requiring an early termination payment, other acceleration of its obligations under the TRA or a change of control) to make payments under the TRA for that taxable year because no cash tax savings will have been realized. However, unutilized deductions that do not result in realized benefits in a given tax year as a result of insufficient taxable income may be applied to taxable income in future years and accordingly would impact the amount of cash tax savings in such future years and the amount of corresponding payments under the TRA in such future years. Upon the closing of the IPO, the Company recognized a non-current liability of $112,681, which represented undiscounted aggregate payments that it expects to pay the TRA Participants under the TRA, with an offset to additional paid-in capital. Subsequent changes in the measurement of the liability will be adjusted through the condensed consolidated statement of operations. The TRA liability is an estimate and estimating the amount of payments that may be made under the TRA is by its nature imprecise, insofar as the calculation of amounts payable depends on a variety of factors. The amount and timing of any payments under the TRA will vary depending upon a number of factors, including the amount, character and timing of the Company’s income. As of April 1, 2022, the Company recognized a total liability of $112,406, of which $11,038 and $101,368 are recorded within the current and noncurrent tax receivable liability financial statement line items, respectively. TRA payments are anticipated to be made 125 days after filing the federal tax return. No measurement changes to the liability were recognized for the three months ended April 1, 2022. As of December 31, 2021, the Company recognized a total liability of $112,406, which was recorded within the noncurrent tax receivable liability financial statement line item. With respect to certain pre-IPO owners that are not TRA Participants, the Company paid $13,210 with cash on hand for their interests in lieu of their participation in the TRA. Approximately $2,754 of the cash payments to pre-IPO owners are subject to vesting requirements and are held in escrow until vested. The cash payments held in escrow are included in the condensed consolidated balance sheet in prepaid expenses and other current assets and are expensed over the requisite service period. The remaining $10,456 of the cash payments were expensed and paid or accrued in conjunction with the closing of the IPO. In total, $10,925 was recorded as compensation expense within selling, general and administrative expenses as disclosed in the consolidated statement of operations included in the Annual Report for the year ended December 31, 2021. As of April 1, 2022, the Company recorded $279 in compensation expense within selling, general and administrative expenses in the accompanying condensed consolidated statement of operations.

Commitment and Contingencies

Commitment and Contingencies	3 Months Ended
	Apr. 01, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Legal Proceedings — During the normal course of business, the Company is occasionally involved with various claims and litigation. Reserves are established in connection with such matters when a loss is probable, and the amount of such loss can be reasonably estimated. As of April 1, 2022, and December 31, 2021, no significant reserves were recorded.

Leases

Leases	3 Months Ended
	Apr. 01, 2022
Leases [Abstract]
Leases	Leases The Company determines if an arrangement is a lease or contains a lease at inception. For all leases with a term longer than 12 months, operating leases are recorded under the noncurrent asset operating lease financial statement line item and the current and noncurrent operating lease liability financial statement line items on our condensed consolidated balance sheets. The Company has lease agreements with lease and non-lease components, which the Company has elected to account for as a single lease component for all asset classes. Lease expense is recognized on a straight-line basis over the lease term. ROU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. Since most of the Company’s leases do not provide an implicit rate, the Company uses its own incremental borrowing rate (“IBR”) on a collateralized basis in determining the present value of lease payments. The Company utilizes a market-based approach to estimate the IBR. The Company’s lease arrangements primarily consist of operating leases for offices, warehouse space, and distribution centers. The leases have remaining lease terms of 1 year to 10 years, some of which include options to extend for up to an additional 5 years, and some of which include options to terminate prior to completion of the contractual lease term with or without penalties. The Company’s lease term only includes periods covered by options if those options are reasonably certain of being exercised (or not reasonably certain of being exercised as it relates to termination options). Variable lease payments that depend on an index or rate (such as the Consumer Price Index or a market interest rate) are included in the measurement of ROU assets and lease liabilities using the index or rate at the commencement date. Variable payments, other than those dependent upon an index or rate, are excluded from the measurement of the ROU assets and lease liabilities and are recognized in the period in which the obligation for those payments is incurred. The variable lease cost primarily represents variable payments related to common area maintenance and utilities. The Company’s leases do not contain any material residual value guarantees. The components of the Company’s lease costs are: Three Months Ended Operating lease cost (a) $ 3,539 Variable lease cost 1,056 Short-term lease cost 110 Total lease cost $ 4,705 (a) Included in cost of sales, exclusive of depreciation and amortization, and selling, general and administrative expenses in the Company’s unaudited condensed consolidated statement of operations. Supplemental cash flow information and non-cash activity related to the Company’s operating leases are as follows: Three Months Ended Cash paid for amounts included in the measurement of lease liabilities $ 3,405 Non-cash activity: Right-of-use assets obtained in exchange for lease obligations $ 44,055 Weighted-average remaining lease term and discount rate for the Company’s operating leases are as follows: As of Weighted-average remaining lease term 4.75 years Weighted-average discount rate 4.33 % As of April 1, 2022, future lease payments under non-cancelable lease commitments for the next five fiscal years and thereafter were as follows: Remainder of 2022 $ 10,666 2023 10,541 2024 8,823 2025 7,562 2026 5,469 Thereafter 7,078 Total lease payments 50,139 Less: Imputed interest 5,341 Present value of lease liabilities $ 44,798 As of April 1, 2022, the Company has entered into additional lease agreements for office space that have not yet commenced. Aggregate lease payments for these leases total $38,372 on an undiscounted basis. The future minimum lease payments for operating lease obligations under ASC Topic 840 as of December 31, 2021 were as follows: 2022 $ 13,168 2023 9,255 2024 7,558 2025 6,357 2026 4,510 Thereafter 5,460 Total future minimum lease payments $ 46,308 Under ASC 840, Leases, total rental expense for the three months ended March 26, 2021 was $3,128.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Apr. 01, 2022
Equity [Abstract]
Stockholders Equity	Stockholders’ Equity Holders of voting common stock are entitled to one vote per share and to receive dividends. The Company had noncontrolling interests of $241 and $261 as of April 1, 2022, and December 31, 2021, respectively. Changes in noncontrolling interests each period include net income attributable to noncontrolling interests and cash contributions by minority partners to the Company’s consolidated subsidiaries. There were no cash contributions by minority partners for the three months ended April 1, 2022, or March 26, 2021. In July 2021, the Company amended its Amended and Restated Certificate of Incorporation which, among other things, effected a 150-for-1 stock split of its shares of common stock, increased the par value of its common stock from $0.001 to $0.01 per share, increased the authorized number of shares of its common stock to 500,000 and authorized 50,000 shares of preferred stock. There was no preferred stock outstanding as of April 1, 2022, and December 31, 2021. All references to share and per share amounts in the Company’s condensed consolidated financial statements have been retrospectively revised to reflect the stock split, the increase in par value and the increase in authorized shares.

Loss Per Share

Loss Per Share	3 Months Ended
	Apr. 01, 2022
Earnings Per Share [Abstract]
Loss Per Share	Loss Per Share Basic loss per share represents net loss divided by the weighted-average shares outstanding. Diluted loss per share is the same as basic income or loss per share, as the Company had no potentially dilutive securities during the three months ended March 26, 2021, and was in a loss position during the three months ended April 1, 2022. The following table presents the calculations of basic and diluted loss per share for the three months ended April 1, 2022, and March 26, 2021: Three Months Ended April 1, March 26, Net loss attributable to Company $ (2,236) $ (6,014) Weighted-average shares outstanding - basic and diluted 74,464 59,217 Loss per share - basic and diluted $ (0.03) $ (0.10) The Company’s restricted stock awards, stock options, restricted stock units and performance stock units were excluded from the computation of diluted net loss per share because their effect would have been anti-dilutive. Awards with performance and market-based vesting conditions are excluded from the calculation of dilutive potential common shares until the conditions have been satisfied. The following potentially dilutive shares were excluded from the computation of diluted net income (loss) per share attributable to common stockholders: Three Months Ended April 1, 2022 Restricted stock awards 1,412 Time-based options 4,368 Market-based options 1,155 Restricted stock units 787 Performance stock units 186 Other equity-based compensation 56 Total 7,964

Related Parties

Related Parties	3 Months Ended
	Apr. 01, 2022
Related Party Transactions [Abstract]
Related Parties	Related PartiesThe Company’s controlling shareholder, H&F, has an ownership interest in a human capital management, payroll, HR service and workforce management vendor used by the Company. For the three months months ended April 1, 2022 and March 26, 2021, the Company incurred $113 and $186 of expenses, respectively. These expenses are included in selling, general and administrative expenses in the accompanying condensed consolidated statements of operations. Amounts owed by the Company in connection with the expenses described above were not material as of April 1, 2022 and March 26, 2021, respectively.

Subsequent Events

Subsequent Events	3 Months Ended
	Apr. 01, 2022
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventsOn May 12, 2022 the Company announced that its board of directors authorized a $25,000 share repurchase program to capitalize on attractive buying opportunities. Under the share repurchase program, Snap One may purchase shares of common stock on a discretionary basis from time to time through open market repurchases, privately negotiated transactions or other means, including through Rule 10b5-1 trading plans or through the use of other techniques such as accelerated share repurchases. The timing and number of shares repurchased will depend on a variety of factors, including stock price, trading volume, and general business and market conditions. The repurchase program expires at the end of 2023, does not obligate the Company to acquire a specified number of shares and may be modified, suspended or discontinued at any time at the board of directors discretion.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	3 Months Ended
	Apr. 01, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation — The accompanying condensed consolidated financial statements are unaudited and have been prepared in conformity with generally accepted accounting principles in the United States of America (“GAAP”) for interim financial statements. The condensed consolidated financial statements were prepared on the same basis as the audited consolidated financial statements and, in the opinion of management, reflect all adjustments, consisting of normal recurring adjustments, necessary to present fairly the Company’s financial position, results of operations and cash flows for the periods presented. The condensed consolidated financial statements include the accounts of the Company and all subsidiaries required to be consolidated. All intercompany balances and transactions have been eliminated in the condensed consolidated financial statements. The condensed consolidated balance sheet as of December 31, 2021, has been derived from the audited consolidated financial statements of the Company. The accompanying condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and related notes for the fiscal year ended December 31, 2021, appearing in the Company’s Annual Report on Form 10-K for the annual period ended December 31, 2021, as amended by the Form 10-K/A filed with the Securities and Exchange Commission on April 25, 2022 (as amended, the “Annual Report”).
Fiscal Period	The Company’s fiscal year is the 52- or 53-week period that ends on the last Friday of December. Fiscal year 2022 is a 52-week period, and fiscal year 2021 was a 53-week period. The three months ended April 1, 2022, and March 26, 2021, were 13-week periods.
Use of Accounting Estimates	Use of Accounting Estimates — The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported and disclosed in the condensed consolidated financial statements and accompanying notes. Accordingly, the actual amounts could differ from those estimates. If actual amounts differ from estimates, revisions are included in the condensed consolidated statements of operations in the period the actual amounts become known.
Recent Accounting Pronouncements Pending Adoption and Recently Adopted Accounting Pronouncements	Recent Accounting Pronouncements Pending Adoption — In March 2020, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting (Accounting Standards Codification 848, “ASC 848”) . The amendments in this ASU were put forth in response to the market transition from the London Interbank Offered Rate (“LIBOR”) and other interbank offered rates to alternative reference rates. GAAP requires entities to evaluate whether a contract modification, such as the replacement or change of a reference rate, results in the establishment of a new contract or continuation of an existing contract. ASC 848 allows an entity to elect not to apply certain modification accounting requirements to contracts affected by reference rate reform. The standard provides this temporary election through December 31, 2022 and cannot be applied to contract modifications that occur after December 31, 2022. In January 2021, the FASB issued ASU 2021-01, Reference Rate Reform (Topic 848) . The objective of the new reference rate reform standard is to clarify the scope of Topic 848 and provide explicit guidance to help companies applying optional expedients and exceptions. This ASU is effective immediately for all entities that have applied optional expedients and exceptions. The Company is in the process of evaluating the effect that the adoption of this standard will have on our financial position and results of operations. In October, 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 606): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers , which requires that an entity recognize and measure contract assets and liabilities from contracts with customers in a business combination in accordance with ASC 606 as if it had originated the contracts. The amendment in this update is effective for fiscal years beginning after December 15, 2022, with early adoption permitted. The guidance should be applied prospectively to business combinations occurring on or after the effective date of the amendment in this update. The Company is in the process of evaluating the effect that the adoption of this standard will have on our financial position and results of operations. Recently Adopted Accounting Pronouncements — In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) , which establishes the principles to report transparent and economically neutral information about the assets and liabilities that arise from leases. This new guidance requires lessees to recognize the lease assets and lease liabilities that arise from leases in the statement of financial position and to disclose qualitative and quantitative information about lease transactions, such as information about variable lease payments and options to renew and terminate leases. Recently, the FASB issued ASU 2020-05, which deferred the effective date to fiscal years beginning after December 15, 2021, and interim periods within fiscal years beginning after December 15, 2022. The Company adopted the new leasing standard as of January 1, 2022, using the modified retrospective approach. Therefore, results for reporting periods beginning after January 1, 2022 are presented under Topic 842 , while comparative information has not been restated and continues to be reported under accounting standards in effect for those periods. There was not a cumulative-effect adjustment to accumulated deficit at the beginning of the period of adoption. In adopting the new guidance, the Company elected the package of practical expedients permitted under the transition guidance within the standard, which eliminates the reassessment of whether existing contracts contain leases, lease classification and capitalization of initial direct costs. The Company also elected an accounting policy to not recognize assets or liabilities for leases with a term of less than 12 months, to not separate lease and non-lease components for all asset classes and not elect to use the hindsight practical expedient. The adoption of the new leasing standard resulted in the recognition of approximately $40,906 and $43,862 of right-of-use (“ROU”) assets and lease liabilities, respectively, on the Company’s condensed consolidated balance sheets for its operating lease commitments. The difference between the ROU assets and lease liabilities is primarily attributable to deferred rent and lease incentives. The adoption of the standard did not have a material impact on the Company’s condensed consolidated statements of operations or on the condensed consolidated statements of cash flows. In June 2016, the FASB issued ASU 2016-13, Financial Instruments — Credit Losses . The ASU sets forth a current expected credit loss (“CECL”) model which requires the Company to measure all expected credit losses for financial instruments held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. This replaces the existing incurred loss model and is applicable to the measurement of credit losses on financial assets measured at amortized cost and applies to some off-balance sheet credit exposures. This ASU was effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years, with early adoption permitted. In November 2019, the FASB issued ASU 2019-10 which deferred the effective date to fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The Company early adopted the standard for the fiscal year beginning January 1, 2022. Adoption of the standard did not have a material impact on the condensed consolidated financial statements.

Acquisitions (Tables)

Acquisitions (Tables)	3 Months Ended
	Apr. 01, 2022
Business Combination and Asset Acquisition [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The preliminary allocation of the purchase price for the acquisition is as follows: Total purchase consideration $ 26,395 Cash and cash equivalents $ 756 Accounts receivable 1,801 Inventory 5,472 Prepaid expenses 1,616 Property and equipment 451 Operating lease right-of-use assets 2,309 Identifiable intangible assets 14,209 Total identifiable assets acquired 26,614 Accounts payable 1,570 Accrued liabilities 2,174 Current operating lease liability 343 Deferred income tax liabilities 3,585 Operating lease liability, net of current portion 1,953 Total liabilities assumed 9,625 Net identifiable assets acquired 16,989 Goodwill 9,406 Net assets acquired $ 26,395
Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination	The Company recorded intangible assets related to the acquisition based on estimated fair value, which consisted of the following: Useful Lives Acquired Value Customer relationships 10 $ 12,684 Trade name 6 1,525 Total intangible assets $ 14,209

Revenue and Geographic Inform_2

Revenue and Geographic Information (Tables)	3 Months Ended
	Apr. 01, 2022
Revenue from Contract with Customer [Abstract]
Summary of Changes in Deferred Revenue	The following table represents the changes in deferred revenue for the three months ended April 1, 2022, and March 26, 2021: Three Months Ended April 1, March 26, Deferred revenue – beginning of period $ 33,385 $ 30,466 Amounts billed, but not recognized 8,531 6,661 Recognition of revenue (7,281) (6,063) Deferred revenue – end of period $ 34,635 $ 31,064
Disaggregation of Revenue	The following table sets forth revenue by geography between the United States and all geographies outside of the United States for the three months ended April 1, 2022 and March 26, 2021: Three Months Ended April 1, March 26, United States integrators (a) $ 225,406 $ 185,663 United States other (b) 13,353 8,415 International (c) 38,675 26,390 Total $ 277,434 $ 220,468 (a) United States integrators is defined as professional “do-it-for-me” integrator customers who transact with Snap One through a traditional integrator channel and excludes the impact of recently acquired businesses domestically. (b) United States other is defined as recently acquired entities and revenue generated through managed transactions with non-integrator customers, such as national accounts. (c) International consists of all integrators and distributors who transact with Snap One outside of the United States. The following table sets forth revenue by product type between proprietary products and third-party products for the three months ended April 1, 2022, and March 26, 2021: Three Months Ended April 1, March 26, Proprietary products (a) $ 187,797 $ 152,037 Third-party products (b) 89,637 68,431 Total $ 277,434 $ 220,468 (a) Proprietary products consist of product and services internally developed by Snap One and sold under one of Snap One’s proprietary brands. (b) Third-party products consist of product that Snap One distributes but does not own the intellectual property. Additionally, the Company’s revenue includes amounts recognized over time and at a point in time, and are as follows for the three months ended April 1, 2022, and March 26, 2021: Three Months Ended April 1, March 26, Products transferred at a point in time $ 270,153 $ 214,405 Services transferred over time 7,281 6,063 Total $ 277,434 $ 220,468
Schedule of Accounts Receivable	As of April 1, 2022, and December 31, 2021, the Company’s accounts receivable, net consisted of the following: April 1, December 31, Accounts receivable $ 59,653 $ 55,088 Allowance for doubtful accounts (2,502) (2,468) Accounts receivable, net $ 57,151 $ 52,620

Inventories, Net (Tables)

Inventories, Net (Tables)	3 Months Ended
	Apr. 01, 2022
Inventory Disclosure [Abstract]
Schedule of Inventory	As of April 1, 2022, and December 31, 2021, the Company’s inventory consisted of the following: April 1, December 31, Finished goods $ 238,849 $ 210,540 Raw materials 12,825 10,454 Work in process 399 548 Reserve for obsolete and slow-moving inventory (10,605) (10,578) Total inventories, net $ 241,468 $ 210,964

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets, Net (Tables)	3 Months Ended
	Apr. 01, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite-Lived Intangible Assets	As of April 1, 2022, and December 31, 2021, other intangible assets, net, consisted of the following: April 1, 2022 Estimated Gross Carrying Accumulated Net Carrying Customer relationships 5 – 25 years $ 521,846 $ (103,143) $ 418,703 Technology 5 – 15 years 95,078 (42,175) 52,903 Trade names – definite 2 – 10 years 59,185 (18,615) 40,570 Trade names – indefinite indefinite 76,564 — 76,564 Total intangible assets $ 752,673 $ (163,933) $ 588,740 December 31, 2021 Estimated Gross Carrying Accumulated Net Carrying Customer relationships 5 – 25 years $ 509,162 $ (96,149) $ 413,013 Technology 5 – 15 years 95,078 (38,221) 56,857 Trade names – definite 2 – 10 years 57,660 (16,902) 40,758 Trade names – indefinite indefinite 76,564 — 76,564 Total intangible assets $ 738,464 $ (151,272) $ 587,192
Schedule of Indefinite-Lived Intangible Assets	As of April 1, 2022, and December 31, 2021, other intangible assets, net, consisted of the following: April 1, 2022 Estimated Gross Carrying Accumulated Net Carrying Customer relationships 5 – 25 years $ 521,846 $ (103,143) $ 418,703 Technology 5 – 15 years 95,078 (42,175) 52,903 Trade names – definite 2 – 10 years 59,185 (18,615) 40,570 Trade names – indefinite indefinite 76,564 — 76,564 Total intangible assets $ 752,673 $ (163,933) $ 588,740 December 31, 2021 Estimated Gross Carrying Accumulated Net Carrying Customer relationships 5 – 25 years $ 509,162 $ (96,149) $ 413,013 Technology 5 – 15 years 95,078 (38,221) 56,857 Trade names – definite 2 – 10 years 57,660 (16,902) 40,758 Trade names – indefinite indefinite 76,564 — 76,564 Total intangible assets $ 738,464 $ (151,272) $ 587,192
Schedule of Finite-Lived Intangible Assets, Estimated Amortization Expense	As of April 1, 2022, the estimated amortization expense for intangible assets for the next five fiscal years and thereafter are as follows: Remainder of 2022 $ 37,220 2023 48,756 2024 42,255 2025 34,638 2026 34,638 2027 and thereafter 314,669 Total $ 512,176

Debt Agreements (Tables)

Debt Agreements (Tables)	3 Months Ended
	Apr. 01, 2022
Debt Disclosure [Abstract]
Schedule of Debt	Instrument Maturity Date 4/1/2022 12/31/2021 Credit Agreement New Term Loan 12/8/2028 $ 465,000 $ 465,000 New Revolving Credit Facility 12/8/2026 $ 37,000 $ —
Schedule of Maturities of Long-term Debt	As of April 1, 2022, the future scheduled maturities of the above notes payable are as follows: Remainder of 2022 $ 3,488 2023 4,650 2024 3,488 2025 4,650 2026 41,650 2027 5,813 Thereafter 438,262 Total future maturities of debt 502,001 Unamortized debt issuance costs (13,304) Total indebtedness 488,697 Less: Current maturities of long-term debt 3,488 Long-term debt and revolving credit facility $ 485,209
Schedule of Future Amortization of Debt Issuance Cost	As of April 1, 2022, the future amortization of debt issuance costs was as follows: Remainder of 2022 $ 1,400 2023 1,925 2024 1,993 2025 2,066 2026 2,123 2027 1,918 Thereafter 1,879 Total $ 13,304

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	3 Months Ended
	Apr. 01, 2022
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	The fair values and related carrying values of financial instruments that are not required to be remeasured at fair value on the condensed consolidated statements of operations were as follows: As of April 1, 2022 As of December 31, 2021 Carrying Amount Fair Value Carrying Amount Fair Value Assets Notes receivable, net $ 7,228 $ 7,293 $ 6,484 $ 6,764 Liabilities New Term Loan $ 465,000 $ 459,188 $ 465,000 $ 462,675
Level 3 Measurement Valuation	Fair value at April 1, 2022 Valuation Technique Unobservable Input Volatility Contingent Value Rights $6,100 Monte Carlo Volatility 45 and 50%
CRV Reconciliation	Changes in the CVRs for the three months ended April 1, 2022, and March 26, 2021 were as follows: April 1, March 26, CVR fair value – beginning of period $ 8,900 $ 4,000 Fair value adjustments (2,800) 1,310 CVR fair value – end of period $ 6,100 $ 5,310

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	3 Months Ended
	Apr. 01, 2022
Payables and Accruals [Abstract]
Schedule of Accrued Liabilities	Accrued liabilities as of April 1, 2022, and December 31, 2021, consisted of the following: April 1, December 31, Deferred revenue $ 22,197 $ 20,944 Warranty reserve 12,218 14,549 Payroll, vacation, and bonus accruals 14,313 21,340 Customer rebate program 4,138 4,775 Sales return allowance 4,062 3,999 Taxes 2,380 1,774 Contingent consideration 2,000 — Incurred but not reported self-insurance 1,660 1,556 Interest payable 78 1,523 Other accrued liabilities 5,693 5,057 Total accrued liabilities $ 68,739 $ 75,517

Warranties (Tables)

Warranties (Tables)	3 Months Ended
	Apr. 01, 2022
Guarantees and Product Warranties [Abstract]
Schedule of Product Warranty Liability	Changes in the Company’s accrued warranty liability for the three months ended April 1, 2022, and March 26, 2021, are as follows: April 1, March 26, Accrued warranty – beginning of period $ 18,772 $ 16,523 Warranty claims (2,323) (4,002) Warranty provisions 175 5,707 Accrued warranty – end of period $ 16,624 $ 18,228

Equity Agreements and Incenti_2

Equity Agreements and Incentive Equity Plans (Tables)	3 Months Ended
	Apr. 01, 2022
Share-based Payment Arrangement [Abstract]
Summary of Restricted Stock Awards	The summary of the Company’s restricted stock awards activity is as follows: Restricted Stock Awards B-1 Incentive Units B-2 Incentive Units Number of Weighted- Average Grant-Date Fair Value Number of Weighted- Average Grant-Date Fair Value Outstanding at December 31, 2021 633 $ 18.00 807 $ 18.00 Granted — — — — Vested 53 18.00 — — Forfeited 7 18.00 — — Outstanding at April 1, 2022 573 $ 18.00 807 $ 18.00
Summary of Option Activity	The summary of the Company’s option activity is as follows: Time-based Options Market-based Options Number of Weighted- Average Grant-Date Fair Value Aggregate Intrinsic Value (a) Number of Weighted- Average Grant-Date Fair Value Aggregate Intrinsic Value (a) Outstanding at December 31, 2021 4,393 $ 6.49 $ 13,532 1,155 $ 5.66 $ 3,558 Granted — — — — — — Exercised — — — — — — Forfeited 52 6.82 — — — — Outstanding at April 1, 2022 4,341 $ 6.48 $ — 1,155 $ 5.66 $ — Options exercisable at April 1, 2022 2,501 $ 6.09 $ — — $ — $ — (a) The intrinsic value represents the amount by which the fair value of the Company’s stock exceeds the option exercise price as of April 1, 2022.
Summary of RSU Activity	The summary of the Company’s RSU activity is as follows: Restricted Stock Units Number of Weighted-Average Grant-Date Fair Value Outstanding at December 31, 2021 390 $ 18.22 Granted 803 20.42 Vested — — Forfeited 13 19.95 Outstanding at April 1, 2022 1,180 $ 19.70
Summary of PSU Activity	The summary of the Company’s PSU activity is as follows: Performance Stock Units Number of Weighted-Average Grant-Date Fair Value Outstanding at December 31, 2021 — $ — Granted 368 20.46 Exercised — — Forfeited — — Outstanding at April 1, 2022 368 $ 20.46
Summary of Stock Compensation Expense	Compensation expense for the three months ended April 1, 2022 and unrecognized stock compensation expense and weighted average remaining expense period as of April 1, 2022 consisted of: Compensation Expense As of April 1, 2022 Three months ended April 1, 2022 Unrecognized Compensation Expense Weighted-Average Remaining Contractual Term (Years) 2021 Plan Restricted stock awards $ 1,145 $ 7,581 1.75 Time-based options 1,729 12,366 2.29 Market-based options 645 4,780 1.84 Restricted stock units 1,436 20,155 3.20 Performance stock units 565 6,965 1.89 Other equity-based compensation 79 1,129 2.80 Total $ 5,599 $ 52,976 2.27

Leases (Tables)

Leases (Tables)	3 Months Ended
	Apr. 01, 2022
Leases [Abstract]
Schedule of Lease Costs	The components of the Company’s lease costs are: Three Months Ended Operating lease cost (a) $ 3,539 Variable lease cost 1,056 Short-term lease cost 110 Total lease cost $ 4,705 (a) Included in cost of sales, exclusive of depreciation and amortization, and selling, general and administrative expenses in the Company’s unaudited condensed consolidated statement of operations. Supplemental cash flow information and non-cash activity related to the Company’s operating leases are as follows: Three Months Ended Cash paid for amounts included in the measurement of lease liabilities $ 3,405 Non-cash activity: Right-of-use assets obtained in exchange for lease obligations $ 44,055 Weighted-average remaining lease term and discount rate for the Company’s operating leases are as follows: As of Weighted-average remaining lease term 4.75 years Weighted-average discount rate 4.33 %
Schedule of Future Minimum Lease Payments	As of April 1, 2022, future lease payments under non-cancelable lease commitments for the next five fiscal years and thereafter were as follows: Remainder of 2022 $ 10,666 2023 10,541 2024 8,823 2025 7,562 2026 5,469 Thereafter 7,078 Total lease payments 50,139 Less: Imputed interest 5,341 Present value of lease liabilities $ 44,798
Schedule of Future Minimum Rental Payments for Operating Leases	The future minimum lease payments for operating lease obligations under ASC Topic 840 as of December 31, 2021 were as follows: 2022 $ 13,168 2023 9,255 2024 7,558 2025 6,357 2026 4,510 Thereafter 5,460 Total future minimum lease payments $ 46,308

Loss Per Share (Tables)

Loss Per Share (Tables)	3 Months Ended
	Apr. 01, 2022
Earnings Per Share [Abstract]
Schedule of Loss Per Share	The following table presents the calculations of basic and diluted loss per share for the three months ended April 1, 2022, and March 26, 2021: Three Months Ended April 1, March 26, Net loss attributable to Company $ (2,236) $ (6,014) Weighted-average shares outstanding - basic and diluted 74,464 59,217 Loss per share - basic and diluted $ (0.03) $ (0.10)
Schedule of Antidilutive Securities Excluded from Computation of Net Income (Loss) Per Share	The following potentially dilutive shares were excluded from the computation of diluted net income (loss) per share attributable to common stockholders: Three Months Ended April 1, 2022 Restricted stock awards 1,412 Time-based options 4,368 Market-based options 1,155 Restricted stock units 787 Performance stock units 186 Other equity-based compensation 56 Total 7,964

Organization and Description _2

Organization and Description of Business (Details) - USD ($)	Jul. 30, 2021	Apr. 01, 2022	Mar. 26, 2021
Subsidiary, Sale of Stock [Line Items]
Payments of stock issuance costs		$ 0	$ 349,000
IPO
Subsidiary, Sale of Stock [Line Items]
Number of shares issued in transaction (in shares)	13,850,000
Price per share (in dollars per share)	$ 18
Proceeds from issuance of IPO	$ 249,154,000
Payments of stock issuance costs	$ 21,219,000
Deferred offering costs		$ 0	$ 1,711,000
Over-Allotment Option
Subsidiary, Sale of Stock [Line Items]
Number of shares issued in transaction (in shares)	1,171,000

Significant Accounting Polici_3

Significant Accounting Policies (Details) - USD ($) $ in Thousands	Apr. 01, 2022	Dec. 31, 2021
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease right-of-use assets	$ 41,835
Operating lease liability, net of current portion	$ 32,204
Cumulative Effect, Period of Adoption, Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease right-of-use assets		$ 40,906
Operating lease liability, net of current portion		$ 43,862

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details) $ in Thousands	Jan. 20, 2022USD ($)	Apr. 01, 2022acquistion	Dec. 31, 2021acquistion	Jan. 19, 2022USD ($)
Business Acquisition [Line Items]
Number of businesses acquired | acquistion		1	1
Staub
Business Acquisition [Line Items]
Purchase price	$ 26,395
Transaction related expenses				$ 328

Acquisitions - Preliminary Purc

Acquisitions - Preliminary Purchase Price (Details) - USD ($) $ in Thousands	Jan. 20, 2022	Apr. 01, 2022	Jan. 19, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Goodwill		$ 590,166		$ 580,761
Staub
Business Acquisition [Line Items]
Total purchase consideration	$ 26,395
Cash and cash equivalents			$ 756
Accounts receivable			1,801
Inventory			5,472
Prepaid expenses			1,616
Property and equipment			451
Operating lease right-of-use assets			2,309
Identifiable intangible assets			14,209
Total identifiable assets acquired			26,614
Accounts payable			1,570
Accrued liabilities			2,174
Current operating lease liability			343
Deferred income tax liabilities			3,585
Operating lease liability, net of current portion			1,953
Total liabilities assumed			9,625
Net identifiable assets acquired			16,989
Goodwill			9,406
Net assets acquired			$ 26,395

Acquisitions - Acquired Intangi

Acquisitions - Acquired Intangible Assets (Details) - USD ($) $ in Thousands	Jan. 20, 2022	Apr. 01, 2022
Business Acquisition [Line Items]
Useful Lives		14 years 10 months 24 days
Staub
Business Acquisition [Line Items]
Acquired Value	$ 14,209
Staub | Customer relationships
Business Acquisition [Line Items]
Useful Lives	10 years
Acquired Value	$ 12,684
Staub | Trade names – definite
Business Acquisition [Line Items]
Useful Lives	6 years
Acquired Value	$ 1,525

Revenue and Geographic Inform_3

Revenue and Geographic Information - Changes in Deferred Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 01, 2022	Mar. 26, 2021
Change In Contract With Customer Liability [Roll Forward]
Deferred revenue – beginning of period	$ 33,385	$ 30,466
Amounts billed, but not recognized	8,531	6,661
Recognition of revenue	(7,281)	(6,063)
Deferred revenue – end of period	$ 34,635	$ 31,064

Revenue and Geographic Inform_4

Revenue and Geographic Information - Narrative (Details) - USD ($) $ in Thousands	Apr. 01, 2022	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Deferred revenue	$ 22,197	$ 20,944
Noncurrent deferred revenue	$ 12,438	$ 12,441

Revenue and Geographic Inform_5

Revenue and Geographic Information - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 01, 2022	Mar. 26, 2021
Disaggregation of Revenue [Line Items]
Revenue	$ 277,434	$ 220,468
Products transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenue	270,153	214,405
Services transferred over time
Disaggregation of Revenue [Line Items]
Revenue	7,281	6,063
Proprietary Products
Disaggregation of Revenue [Line Items]
Revenue	187,797	152,037
Third Party Products
Disaggregation of Revenue [Line Items]
Revenue	89,637	68,431
United States integrators
Disaggregation of Revenue [Line Items]
Revenue	225,406	185,663
United States other
Disaggregation of Revenue [Line Items]
Revenue	13,353	8,415
International
Disaggregation of Revenue [Line Items]
Revenue	$ 38,675	$ 26,390

Revenue and Geographic Inform_6

Revenue and Geographic Information - Accounts Receivable (Details) - USD ($) $ in Thousands	Apr. 01, 2022	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Accounts receivable	$ 59,653	$ 55,088
Allowance for doubtful accounts	(2,502)	(2,468)
Accounts receivable, net	$ 57,151	$ 52,620

Inventories, Net (Details)

Inventories, Net (Details) - USD ($) $ in Thousands	Apr. 01, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Finished goods	$ 238,849	$ 210,540
Raw materials	12,825	10,454
Work in process	399	548
Reserve for obsolete and slow-moving inventory	(10,605)	(10,578)
Total inventories, net	$ 241,468	$ 210,964

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets, Net - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Apr. 01, 2022	Mar. 26, 2021	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 590,166		$ 580,761
Goodwill, increase during the period	9,406		$ 21,026
Amortization of intangible assets	$ 12,661	$ 11,888
Weighted average useful life	14 years 10 months 24 days

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets, Net - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Apr. 01, 2022	Jun. 25, 2021	Dec. 31, 2021
Acquired Finite-Lived Intangible Assets [Line Items]
Accumulated Amortization	$ (163,933)		$ (151,272)
Total	512,176
Intangible assets, gross	752,673		738,464
Other intangible assets, net	588,740		587,192
Trade names – indefinite
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	76,564		76,564
Customer relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross	521,846		509,162
Accumulated Amortization	(103,143)		(96,149)
Total	$ 418,703		413,013
Customer relationships | Minimum
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life	5 years	5 years
Customer relationships | Maximum
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life	25 years	25 years
Technology
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross	$ 95,078		95,078
Accumulated Amortization	(42,175)		(38,221)
Total	$ 52,903		56,857
Technology | Minimum
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life	5 years	5 years
Technology | Maximum
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life	15 years	15 years
Trade names – indefinite
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross	$ 59,185		57,660
Accumulated Amortization	(18,615)		(16,902)
Total	$ 40,570		$ 40,758
Trade names – indefinite | Minimum
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life	2 years	2 years
Trade names – indefinite | Maximum
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life	10 years	10 years

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets, Net - Estimated Amortization Expense (Details) $ in Thousands	Apr. 01, 2022USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2022	$ 37,220
2023	48,756
2024	42,255
2025	34,638
2026	34,638
2027 and thereafter	314,669
Total	$ 512,176

Debt Agreements - Narrative (De

Debt Agreements - Narrative (Details) - USD ($)	Dec. 08, 2021	Aug. 04, 2021	Apr. 01, 2022	Mar. 26, 2021	Dec. 31, 2021
Debt Instrument [Line Items]
Payments on long-term debt			$ 0	$ 1,797,000
Cash paid for interest			7,710,000	$ 8,106,000
Line of credit outstanding			35,571,000		$ 0
Letters of credit outstanding			4,894,000		4,894,000
Debt issuance costs			$ 13,304,000
Credit Agreement | Secured Debt
Debt Instrument [Line Items]
Debt instrument, face amount	$ 465,000,000
Debt instrument, term	7 years
Quarterly amortization installment, percentage of aggregate principal amount	1.00%
Old Credit Agreement
Debt Instrument [Line Items]
Repayments of long-term debt	$ 451,400,000
New Term Loan | Secured Debt | Fed Funds Effective Rate Overnight Index Swap Rate
Debt Instrument [Line Items]
Basis spread on variable rate	0.50%
New Term Loan | Secured Debt | Eurodollar
Debt Instrument [Line Items]
Basis spread on variable rate	1.00%
Variable rate floor percent	1.50%
New Term Loan | Secured Debt | Eurodollar | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	0.50%
New Revolving Credit Facility | Line of Credit | Fed Funds Effective Rate Overnight Index Swap Rate
Debt Instrument [Line Items]
Basis spread on variable rate	0.50%
New Revolving Credit Facility | Line of Credit | Eurodollar
Debt Instrument [Line Items]
Basis spread on variable rate	1.00%
Variable rate floor percent	1.00%
New Initial Term Loan Facility | Secured Debt
Debt Instrument [Line Items]
Interest rate, stated percentage			5.00%
Secured Debt
Debt Instrument [Line Items]
Percent of annum of total aggregate principal			1.00%
Debt issuance costs			$ 13,304,000
Secured Debt | Incremental Term Loan
Debt Instrument [Line Items]
Payments on long-term debt		$ 216,902,000
Debt prepayment cost		215,874,000
Cash paid for interest		1,028,000
Loss on extinguishment of debt		$ 6,645,000
Secured Debt | New Term Loan
Debt Instrument [Line Items]
Debt instrument, face amount			465,000,000		465,000,000
Secured Debt | New Initial Term Loan Facility
Debt Instrument [Line Items]
Debt issuance costs			11,875,000		12,256,000
Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit outstanding			37,000,000		0
Revolving Credit Facility | Credit Agreement | Line of Credit
Debt Instrument [Line Items]
Debt instrument, term	5 years
Maximum borrowing capacity	$ 100,000,000
Revolving Credit Facility | New Revolving Credit Facility
Debt Instrument [Line Items]
Debt instrument, face amount			$ 37,000,000		0
Interest rate, stated percentage			5.00%
Available borrowing capacity			$ 58,106,000		95,106,000
Debt issuance costs			$ 1,429,000		$ 1,506,000

Debt Agreements - Schedule of D

Debt Agreements - Schedule of Debt (Details) - USD ($)	Apr. 01, 2022	Dec. 31, 2021
New Term Loan | Secured Debt
Debt Instrument [Line Items]
Debt instrument, face amount	$ 465,000,000	$ 465,000,000
New Revolving Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Debt instrument, face amount	$ 37,000,000	$ 0

Debt Agreements - Schedule of M

Debt Agreements - Schedule of Maturities of Long-term Debt (Details) - USD ($) $ in Thousands	Apr. 01, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Unamortized debt issuance costs	$ (13,304)
Less: Current maturities of long-term debt	3,488	$ 3,488
Long-term debt and revolving credit facility	449,638	$ 449,256
Secured Debt
Debt Instrument [Line Items]
Remainder of 2022	3,488
2023	4,650
2024	3,488
2025	4,650
2026	41,650
2027	5,813
Thereafter	438,262
Total future maturities of debt	502,001
Unamortized debt issuance costs	(13,304)
Total indebtedness	488,697
Less: Current maturities of long-term debt	3,488
Long-term debt and revolving credit facility	$ 485,209

Debt Agreements - Schedule of F

Debt Agreements - Schedule of Future Amortization of Debt Issuance Cost (Details) $ in Thousands	Apr. 01, 2022USD ($)
Debt Disclosure [Abstract]
Remainder of 2022	$ 1,400
2023	1,925
2024	1,993
2025	2,066
2026	2,123
2027	1,918
Thereafter	1,879
Total	$ 13,304

Fair Value Measurement - Fair V

Fair Value Measurement - Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Apr. 01, 2022	Dec. 31, 2021
Carrying Amount
Assets
Notes receivable, net	$ 7,228	$ 6,484
Carrying Amount | New Term Loan
Liabilities
Debt instrument	465,000	465,000
Fair Value
Assets
Notes receivable, net	7,293	6,764
Fair Value | New Term Loan
Liabilities
Debt instrument	$ 459,188	$ 462,675

Fair Value Measurement - Level

Fair Value Measurement - Level 3 Measurement Valuation (Details) - Valuation Technique, Option Pricing Model - Fair Value, Inputs, Level 3 - Fair Value, Recurring $ in Thousands	Apr. 01, 2022USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent Value Rights	$ 6,100
Measurement Input, Price Volatility | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Volatility	0.50
Measurement Input, Price Volatility | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Volatility	0.45

Fair Value Measurement - CRV Re

Fair Value Measurement - CRV Reconciliation (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 01, 2022	Mar. 26, 2021
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
CVR fair value – beginning of period	$ 8,900	$ 4,000
Fair value adjustments	(2,800)	1,310
CVR fair value – end of period	$ 6,100	$ 5,310

Accrued Liabilities (Details)

Accrued Liabilities (Details) - USD ($) $ in Thousands	Apr. 01, 2022	Dec. 31, 2021
Payables and Accruals [Abstract]
Deferred revenue	$ 22,197	$ 20,944
Warranty reserve	12,218	14,549
Payroll, vacation, and bonus accruals	14,313	21,340
Customer rebate program	4,138	4,775
Sales return allowance	4,062	3,999
Taxes	2,380	1,774
Contingent consideration	2,000	0
Incurred but not reported self-insurance	1,660	1,556
Interest payable	78	1,523
Other accrued liabilities	5,693	5,057
Accrued liabilities	$ 68,739	$ 75,517

Warranties - Schedule of Produc

Warranties - Schedule of Product Warranty Liability (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 01, 2022	Mar. 26, 2021
Movement in Standard and Extended Product Warranty Accrual, Increase (Decrease) [Roll Forward]
Accrued warranty – beginning of period	$ 18,772	$ 16,523
Warranty claims	(2,323)	(4,002)
Warranty provisions	175	5,707
Accrued warranty – end of period	$ 16,624	$ 18,228

Warranties - Narrative (Details

Warranties - Narrative (Details) - USD ($) $ in Thousands	Apr. 01, 2022	Dec. 31, 2021
Guarantees and Product Warranties [Abstract]
Warranty reserve	$ 12,218	$ 14,549
Warranty accrual, noncurrent	$ 4,406	$ 4,223

Retirement Plan (Details)

Retirement Plan (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 01, 2022	Mar. 26, 2021
Retirement Benefits [Abstract]
Defined Contribution Plan, Tax Status [Extensible Enumeration]	Qualified Plan [Member]
Employer matching contribution, percent of match	100.00%
Employer matching contribution, percent of employees' gross pay (up to)	3.00%
Employers matching contribution, annual vesting percentage	50.00%
Maximum annual contribution percentage per employee (up to)	6.00%
Contribution cost	$ 1,531	$ 1,170

Equity Agreements and Incenti_3

Equity Agreements and Incentive Equity Plans - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Apr. 01, 2022	Mar. 26, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number rights converted (in shares)	2,998
B-1 Incentive Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	5 years
Share-based compensation expense		$ 1,060
Granted (in dollars per share)	$ 0
Restricted stock awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in dollars per share)	18
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in dollars per share)	$ 20.42
Restricted stock units | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	1 year
Restricted stock units | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	4 years
Performance stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Granted (in dollars per share)	$ 20.46
Performance stock units | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of total units granted	0.00%
Performance stock units | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of total units granted	200.00%
Other equity-based compensation | Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Units granted (in shares)	69,000
Grant date fair value	$ 1,208
Units granted (in dollars per share)	$ 17.42
Replacement Award
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 283	$ 1,726

Equity Agreements and Incenti_4

Equity Agreements and Incentive Equity Plans - Summary of Restricted Stock Awards, RSUs, and PSUs (Details) shares in Thousands	3 Months Ended
	Apr. 01, 2022$ / sharesshares
B-1 Incentive Units
Number of Units
Outstanding balance at beginning of period (in shares) | shares	633
Granted (in shares) | shares	0
Vested (in shares) | shares	53
Forfeited (in shares) | shares	7
Outstanding balance at end of period (in shares) | shares	573
Weighted- Average Grant-Date Fair Value
Outstanding balance at beginning of period (in dollars per share) | $ / shares	$ 18
Granted (in dollars per share) | $ / shares	0
Vested (in dollars per share) | $ / shares	18
Forfeited (in dollars per share) | $ / shares	18
Outstanding balance at end of period (in dollars per share) | $ / shares	$ 18
B-2 Incentive Units
Number of Units
Outstanding balance at beginning of period (in shares) | shares	807
Granted (in shares) | shares	0
Vested (in shares) | shares	0
Forfeited (in shares) | shares	0
Outstanding balance at end of period (in shares) | shares	807
Weighted- Average Grant-Date Fair Value
Outstanding balance at beginning of period (in dollars per share) | $ / shares	$ 18
Granted (in dollars per share) | $ / shares	0
Vested (in dollars per share) | $ / shares	0
Forfeited (in dollars per share) | $ / shares	0
Outstanding balance at end of period (in dollars per share) | $ / shares	$ 18
Restricted stock units
Number of Units
Outstanding balance at beginning of period (in shares) | shares	390
Granted (in shares) | shares	803
Vested (in shares) | shares	0
Forfeited (in shares) | shares	13
Outstanding balance at end of period (in shares) | shares	1,180
Weighted- Average Grant-Date Fair Value
Outstanding balance at beginning of period (in dollars per share) | $ / shares	$ 18.22
Granted (in dollars per share) | $ / shares	20.42
Vested (in dollars per share) | $ / shares	0
Forfeited (in dollars per share) | $ / shares	19.95
Outstanding balance at end of period (in dollars per share) | $ / shares	$ 19.70
Performance stock units
Number of Units
Outstanding balance at beginning of period (in shares) | shares	0
Granted (in shares) | shares	368
Exercised (in dollars per share) | shares	0
Forfeited (in shares) | shares	0
Outstanding balance at end of period (in shares) | shares	368
Weighted- Average Grant-Date Fair Value
Outstanding balance at beginning of period (in dollars per share) | $ / shares	$ 0
Granted (in dollars per share) | $ / shares	20.46
Exercised (in dollars per share) | $ / shares	0
Forfeited (in dollars per share) | $ / shares	0
Outstanding balance at end of period (in dollars per share) | $ / shares	$ 20.46

Equity Agreements and Incenti_5

Equity Agreements and Incentive Equity Plans - Summary of Option Activity (Details) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Apr. 01, 2022USD ($)$ / sharesshares
Time-based options
Number of Units
Outstanding balance at beginning of period (in shares) | shares	4,393
Granted (in shares) | shares	0
Issuance of common stock pursuant to equity incentive plans (in shares) | shares	0
Forfeited (in shares) | shares	52
Outstanding balance at end of period (in shares) | shares	4,341
Options exercisable at period end (in shares) | shares	2,501
Weighted- Average Grant-Date Fair Value
Outstanding balance at beginning of period (in dollars per shares) | $ / shares	$ 6.49
Granted (in dollars per share) | $ / shares	0
Exercised (in dollars per share) | $ / shares	0
Forfeited (in dollars per share) | $ / shares	6.82
Outstanding balance at end of period (in dollars per shares) | $ / shares	6.48
Options exercisable at period end (in dollars per share) | $ / shares	$ 6.09
Aggregate Intrinsic Value
Outstanding balance at beginning of period | $	$ 13,532
Granted | $	0
Exercised | $	0
Forfeited | $	0
Outstanding balance at end of period | $	0
Options exercisable at period end | $	$ 0
Market-based options
Number of Units
Outstanding balance at beginning of period (in shares) | shares	1,155
Granted (in shares) | shares	0
Issuance of common stock pursuant to equity incentive plans (in shares) | shares	0
Forfeited (in shares) | shares	0
Outstanding balance at end of period (in shares) | shares	1,155
Options exercisable at period end (in shares) | shares	0
Weighted- Average Grant-Date Fair Value
Outstanding balance at beginning of period (in dollars per shares) | $ / shares	$ 5.66
Granted (in dollars per share) | $ / shares	0
Exercised (in dollars per share) | $ / shares	0
Forfeited (in dollars per share) | $ / shares	0
Outstanding balance at end of period (in dollars per shares) | $ / shares	5.66
Options exercisable at period end (in dollars per share) | $ / shares	$ 0
Aggregate Intrinsic Value
Outstanding balance at beginning of period | $	$ 3,558
Granted | $	0
Exercised | $	0
Forfeited | $	0
Outstanding balance at end of period | $	0
Options exercisable at period end | $	$ 0

Equity Agreements and Incenti_6

Equity Agreements and Incentive Equity Plans - Stock Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 01, 2022	Mar. 26, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation Expense	$ 5,599	$ 1,060
Unrecognized Compensation Expense	$ 52,976
Weighted-Average Remaining Contractual Term (Years)	2 years 3 months 7 days
2021 Plan | Restricted stock awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation Expense	$ 1,145
Unrecognized Compensation Expense	$ 7,581
Weighted-Average Remaining Contractual Term (Years)	1 year 9 months
2021 Plan | Time-based options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation Expense	$ 1,729
Unrecognized Compensation Expense	$ 12,366
Weighted-Average Remaining Contractual Term (Years)	2 years 3 months 14 days
2021 Plan | Market-based options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation Expense	$ 645
Unrecognized Compensation Expense	$ 4,780
Weighted-Average Remaining Contractual Term (Years)	1 year 10 months 2 days
2021 Plan | Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation Expense	$ 1,436
Unrecognized Compensation Expense	$ 20,155
Weighted-Average Remaining Contractual Term (Years)	3 years 2 months 12 days
2021 Plan | Performance stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation Expense	$ 565
Unrecognized Compensation Expense	$ 6,965
Weighted-Average Remaining Contractual Term (Years)	1 year 10 months 20 days
Other equity-based compensation
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation Expense	$ 79
Unrecognized Compensation Expense	$ 1,129
Weighted-Average Remaining Contractual Term (Years)	2 years 9 months 18 days

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 01, 2022	Mar. 26, 2021
Income Tax Disclosure [Abstract]
Effective income tax rate	13.80%	11.30%
Income tax benefit	$ 361	$ 763

Tax Receivable Agreement (Detai

Tax Receivable Agreement (Details) - USD ($) $ in Thousands	Jul. 16, 2021	Apr. 01, 2022	Dec. 31, 2021	Jul. 29, 2021
Tax Receivable Agreement [Line Items]
Payment to certain owners related to taxes expected to be utilized on future losses				85.00%
Proportion of tax benefits, cash tax savings, percent				15.00%
Noncash tax receivable agreement liability		$ 101,368	$ 112,406	$ 112,681
Tax receivable agreement, liability, total		112,406	112,406
Current tax receivable agreement liability		11,038	0
Dividends declared	$ 13,210
IPO payments held in escrow	$ 2,754
Compensation expense		279	$ 10,925
IPO
Tax Receivable Agreement [Line Items]
Dividends declared		$ 10,456

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 26, 2021	Apr. 01, 2022
Lessee, Lease, Description [Line Items]
Operating lease, renewal term		5 years
Lease not yet commenced, liability		$ 38,372
Operating leases, rent expense	$ 3,128
Minimum
Lessee, Lease, Description [Line Items]
Operating lease, term of contract		1 year
Maximum
Lessee, Lease, Description [Line Items]
Operating lease, term of contract		10 years

Leases - Components of Lease Co

Leases - Components of Lease Costs (Details) $ in Thousands	3 Months Ended
	Apr. 01, 2022USD ($)
Leases [Abstract]
Operating lease cost	$ 3,539
Variable lease cost	1,056
Short-term lease cost	110
Total lease cost	$ 4,705

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flow Information and Non-cash Activity (Details) $ in Thousands	3 Months Ended
	Apr. 01, 2022USD ($)
Leases [Abstract]
Cash paid for amounts included in the measurement of lease liabilities	$ 3,405
Non-cash activity:
Right-of-use assets obtained in exchange for lease obligations	$ 44,055

Leases - Weighted Average Remai

Leases - Weighted Average Remaining Lease Term and Discount Rate (Details)	Apr. 01, 2022
Leases [Abstract]
Weighted-average remaining lease term	4 years 9 months
Weighted-average discount rate	4.33%

Leases - Schedule of Future Min

Leases - Schedule of Future Minimum Lease Payments (Details) $ in Thousands	Apr. 01, 2022USD ($)
Lessor, Operating Lease, Payments, Fiscal Year Maturity [Abstract]
Remainder of 2022	$ 10,666
2023	10,541
2024	8,823
2025	7,562
2026	5,469
Thereafter	7,078
Total lease payments	50,139
Less: Imputed interest	5,341
Present value of lease liabilities	$ 44,798

Leases - Schedule of Future M_2

Leases - Schedule of Future Minimum Rental Payments for Operating Leases (Details) $ in Thousands	Dec. 31, 2021USD ($)
Leases [Abstract]
2022	$ 13,168
2023	9,255
2024	7,558
2025	6,357
2026	4,510
Thereafter	5,460
Total future minimum lease payments	$ 46,308

Stockholders' Equity (Details)

Stockholders' Equity (Details)	1 Months Ended	3 Months Ended
	Jul. 31, 2021	Apr. 01, 2022USD ($)vote$ / sharesshares	Mar. 26, 2021USD ($)	Dec. 31, 2021USD ($)$ / sharesshares	Jul. 30, 2021$ / sharesshares	Jul. 01, 2021$ / shares
Equity [Abstract]
Number of votes per common share | vote		1
Noncontrolling interest | $		$ 241,000		$ 261,000
Contributions from minority partners | $		$ 0	$ 0
Stock split, conversion ratio	150
Common stock, par value (in dollars per share) | $ / shares		$ 0.01		$ 0.01	$ 0.01	$ 0.001
Common stock, shares authorized (in shares)		500,000,000		500,000,000	500,000,000
Preferred stock, shares authorized (in shares)		50,000,000		50,000,000	50,000,000
Preferred stock, shares outstanding (in shares)		0		0

Loss Per Share - Narrative (Det

Loss Per Share - Narrative (Details) - shares	3 Months Ended
	Apr. 01, 2022	Mar. 26, 2021
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of income (loss) per share (in shares)	7,964,000	0

Loss Per Share - Schedule of Lo

Loss Per Share - Schedule of Loss Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Apr. 01, 2022	Mar. 26, 2021
Earnings Per Share [Abstract]
Net loss attributable to Company	$ (2,236)	$ (6,014)
Weighted-average shares outstanding - basic (in shares)	74,464	59,217
Weighted-average shares outstanding - diluted (in shares)	74,464	59,217
Loss per share - basic (in dollars per share)	$ (0.03)	$ (0.10)
Loss per share - diluted (in dollars per share)	$ (0.03)	$ (0.10)

Loss Per Share - Schedule of An

Loss Per Share - Schedule of Antidilutive Securities Excluded from Computation of Net Income (Loss) Per Share (Details) - shares	3 Months Ended
	Apr. 01, 2022	Mar. 26, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of income (loss) per share (in shares)	7,964,000	0
Restricted stock awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of income (loss) per share (in shares)	1,412,000
Time-based options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of income (loss) per share (in shares)	4,368,000
Market-based options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of income (loss) per share (in shares)	1,155,000
Restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of income (loss) per share (in shares)	787,000
Performance stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of income (loss) per share (in shares)	186,000
Other equity-based compensation
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of income (loss) per share (in shares)	56,000

Related Parties (Details)

Related Parties (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 01, 2022	Mar. 26, 2021
Affiliated Entity | H & F
Related Party Transaction [Line Items]
Selling, general and administrative expenses	$ 113	$ 186

Subsequent Events (Details)

Subsequent Events (Details)	May 12, 2022USD ($)
Subsequent Event
Subsequent Event [Line Items]
Stock repurchase program, authorized amount	$ 25,000