Shimmick Corporation Common Stock (SHIM) 10-Q 20 May 24 2024 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 29, 2024	May 15, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2024
Current Fiscal Year End Date	--12-27
Entity Central Index Key	0001887944
Document Quarterly Report	true
Document Period End Date	Mar. 29, 2024
Document Transition Report	false
Entity File Number	001-41867
Entity Registrant Name	Shimmick Corporation
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	84-3749368
Entity Address, Address Line One	530 Technology Drive
Entity Address, Address Line Two	Suite 300
Entity Address, City or Town	Irvine
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92618
City Area Code	833
Local Phone Number	723-2021
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	SHIM
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		25,723,242

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 29, 2024	Dec. 29, 2023
CURRENT ASSETS
Cash and cash equivalents	$ 27,327	$ 62,939
Restricted cash	912	971
Accounts receivable, net	49,700	54,178
Contract assets, current	136,031	125,943
Prepaids and other current assets	11,695	13,427
TOTAL CURRENT ASSETS	225,665	257,458
Property, plant and equipment, net	47,094	46,373
Intangible assets, net	8,600	9,244
Contract assets, non-current	46,703	48,316
Lease right-of-use assets	23,351	23,855
Investment in unconsolidated joint ventures	23,731	21,283
Deferred tax assets	0	17,252
Other assets	2,849	2,871
TOTAL ASSETS	377,993	426,652
CURRENT LIABILITIES
Accounts payable	77,683	81,589
Contract liabilities, current	110,204	115,785
Accrued salaries, wages and benefits	30,287	26,911
Accrued expenses	33,405	33,897
Other current liabilities	18,173	13,071
TOTAL CURRENT LIABILITIES	269,752	271,253
Long-term debt, net	31,489	29,627
Lease liabilities, non-current	14,855	15,045
Contract liabilities, non-current	2,704	3,215
Contingent consideration	15,725	15,488
Deferred tax liabilities	0	17,252
Other liabilities	5,350	4,282
TOTAL LIABILITIES	339,875	356,162
Commitments and Contingencies (Note 11)
STOCKHOLDERS' EQUITY
Common stock, $0.01 par value, 100,000,000 shares authorized as of March 29, 2024 and December 29, 2023; 25,738,857 and 25,493,877 shares issued and outstanding as of March 29, 2024 and December 29, 2023, respectively	257	255
Additional paid-in-capital	25,578	24,445
Retained earnings	13,204	46,537
Non-controlling interests	(921)	(747)
TOTAL STOCKHOLDERS' EQUITY	38,118	70,490
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 377,993	$ 426,652

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 29, 2024	Dec. 29, 2023
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	25,738,857	25,493,877
Common stock, shares outstanding	25,738,857	25,493,877

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended
	Mar. 29, 2024	Mar. 31, 2023
Income Statement [Abstract]
Revenue	$ 120,043	$ 164,108
Cost of revenue	135,903	157,886
Gross margin	(15,860)	6,222
Selling, general and administrative expenses	15,524	15,558
Amortization of intangibles	644	658
Total operating expenses	16,168	16,216
Equity in earnings (loss) of unconsolidated joint ventures	263	(541)
(Loss) gain on sale of assets	(26)	1,540
Loss from operations	(31,791)	(8,995)
Other expense, net	1,543	338
Net loss before income tax	(33,334)	(9,333)
Income tax expense	0	0
Net (loss) income	(33,334)	(9,333)
Net (loss) income attributable to non-controlling interests	(1)	4
Net loss attributable to Shimmick Corporation	$ (33,333)	$ (9,337)
Net loss attributable to Shimmick Corporation per common share
Basic	$ (1.3)	$ (0.43)
Diluted	$ (1.3)	$ (0.43)

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Non-Controlling Interests [Member]
Beginning balance, value at Dec. 30, 2022	$ 51,595	$ 219	$ 3,341	$ 49,083	$ (1,048)
Beginning balance, shares at Dec. 30, 2022		21,908,800
Net (loss) income	(9,333)	$ 0	0	(9,337)	4
Stock-based compensation	528	$ 0	528	0	0
Ending balance, shares at Mar. 31, 2023		21,908,800
Ending balance, value at Mar. 31, 2023	42,790	$ 219	3,869	39,746	(1,044)
Beginning balance, value at Dec. 29, 2023	70,490	$ 255	24,445	46,537	(747)
Beginning balance, shares at Dec. 29, 2023		25,493,877
Net (loss) income	(33,334)	$ 0	0	(33,333)	(1)
Issuance of common stock related to share-based awards, shares		244,980
Issuance of common stock related to share-based awards, value	$ 137	$ 2	135	0	0
Exercise of stock options, shares	195,864
Stock-based compensation	$ 998	0	998	0	0
Distributions to non-controlling interests	(173)	$ 0	0	0	(173)
Ending balance, shares at Mar. 29, 2024		25,738,857
Ending balance, value at Mar. 29, 2024	$ 38,118	$ 257	$ 25,578	$ 13,204	$ (921)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 29, 2024	Mar. 31, 2023
Cash Flows From Operating Activities
Net Loss	$ (33,334)	$ (9,333)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation	998	528
Depreciation and amortization	4,410	4,165
Equity in (earnings) loss of unconsolidated joint ventures	(263)	541
Return on investment in unconsolidated joint ventures	284	5,762
Loss (gain) on sale of assets	26	(1,877)
Other	279	270
Changes in operating assets and liabilities:
Accounts receivable, net	4,478	(8,511)
Contract assets	(8,475)	(6,902)
Accounts payable	(8,901)	9,919
Contract liabilities	(5,579)	(9,703)
Accrued expenses	(492)	(21,070)
Accrued salaries, wages and benefits	3,376	5,264
Other assets and liabilities	8,205	4,797
Net cash used in operating activities	(34,988)	(26,150)
Cash Flows From Investing Activities
Purchases of property, plant and equipment	(4,620)	(2,470)
Proceeds from sale of assets	199	377
Unconsolidated joint venture equity contributions	(2,980)	(1,550)
Return of investments in unconsolidated joint ventures	0	1,535
Net cash used in investing activities	(7,401)	(2,108)
Cash Flows From Financing Activities
Net borrowings on revolving credit facility	1,835	22,808
Payments on finance lease obligation	(76)	(77)
Other	4,883	77
Net cash provided by financing activities	6,718	22,731
Net decrease in cash, cash equivalents and restricted cash	(35,671)	(5,527)
Cash, cash equivalents and restricted cash, beginning of period	63,910	82,085
Cash, cash equivalents and restricted cash, end of period	28,239	76,558
Reconciliation of cash, cash equivalents and restricted cash to the Condensed Consolidated Balance Sheets
Cash and cash equivalents	27,327	72,145
Restricted cash	912	4,413
Total cash, cash equivalents and restricted cash	$ 28,239	$ 76,558

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
	Mar. 29, 2024	Mar. 31, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ (33,333)	$ (9,337)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Mar. 29, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Rule 10b5-1 Arrangement Modified	false
Non rule 10b5-1 Arrangement Modified	false

Business and Organization

Business and Organization	3 Months Ended
	Mar. 29, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business and Organization	Note 1. Business and Organization Shimmick Corporation ("Shimmick", the “Company”) was founded in 1990 in California and operated as a regional infrastructure construction contractor throughout California for nearly 30 years. In 2017, AECOM acquired Shimmick and consolidated it with its existing construction services, which included former legacy construction operations from Morrison Knudsen, Washington Group International, and others. In January 2021, we consummated the AECOM Sale Transactions and began operating as an independent company under new private ownership (the "AECOM Sale Transactions"). The accompanying condensed consolidated financial statements include the accounts of Shimmick Corporation and its subsidiaries (“Shimmick”, “we”, “our”, “us”, “its” or the “Company”), unless otherwise indicated. On September 12, 2023, the Company changed its name from SCCI National Holdings, Inc. to Shimmick Corporation. On November 16, 2023, Shimmick completed its initial public offering of 3,575,000 shares of common stock at a price to the public of $ 7.00 per share (the "IPO"). The net proceeds to Shimmick from the IPO were approximately $ 19 million after deducting underwriting discounts and commissions of $ 2 million and other offering expenses of $ 4 million. Shimmick’s common stock began trading on the NASDAQ Global Market on November 14, 2023.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 29, 2024
Accounting Policies [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	Note 2. Basis of Presentation and Summary of Significant Accounting Policies Basis of Presentation The accompanying condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States (“GAAP”), and in conformity with the rules and regulations of the Securities and Exchange Commission. The information furnished reflects all adjustments, consisting of normal recurring adjustments, that are, in the opinion of management, necessary for a fair presentation of the results of operations, cash flows and financial position for the interim periods presented. A statement of comprehensive income is not presented as the Company’s results of operations do not contain any items classified as comprehensive income. All intercompany accounts and transactions have been eliminated. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted in accordance with such rules and regulations, although management believes the disclosures are adequate to prevent the information presented from being misleading. The accompanying condensed consolidated interim financial statements are unaudited and should be read in conjunction with the audited consolidated financial statements and notes in our Annual Report on Form 10-K for the fiscal year ended December 29, 2023 ("Form 10-K"). Because of the seasonal nature of some of the Company's operations, the results of operations for the three months ended March 29, 2024 are not necessarily indicative of the results of operations to be expected for the full fiscal year. Change in Presentation Certain prior period balances in the condensed consolidated balance sheets and statements of cash flows and accompanying notes have been combined or rounded to conform to current period presentation. These changes had no impact on net loss, cash flows, assets and liabilities, or equity previously reported. Stock Split On October 23, 2023, the Board of Directors (the "Board") approved an amendment to the Company’s Certificate of Incorporation in order to effect a stock split of the Company’s Common Stock. Further, the Board authorized 100,000,000 shares of Common Stock, with a par value of $ 0.01 par value per share and 25,000,000 shares of Preferred Stock, with a par value of $ 0.01 per share. Upon the effectiveness of the filing of the amendment, each share of common stock, par value $ 0.01 per share (the “Old Common Stock”), issued and outstanding automatically, without further action on the part of the Company or any holder of such Old Common Stock, was reclassified as and became 2.7386 validly issued, fully paid and non-assessable shares of Common Stock. There were no fractional shares issued with respect to the reclassification of shares of Old Common Stock. In lieu of fractional shares, the Company rounded up to the nearest whole number of shares of Common Stock. The Company has retro-actively applied the stock split made effective on October 23, 2023, to share and per share amounts in the condensed consolidated financial statements. Accordingly, any information related to or dependent upon the share amounts in the condensed consolidated financial statements and Note 8 - Stock-Based Compensation and Note 9 - Earnings Per Share have been updated to reflect the effect of the stock split. Summary of Significant Accounting Policies Our significant accounting policies are described in more detail in “Note 2 - Basis of Presentation and Summary of Significant Accounting Policies” of our Form 10-K. Recently Issued Accounting Pronouncements Accounting pronouncements not listed below were assessed and determined to be not applicable or are expected to have minimal impact on the condensed consolidated financial statements. In November 2023, the FASB issued ASU 2023-07 to enhance disclosures of significant expense and segment profitability categories and amounts for reportable business segments. The amendment is effective in interim periods in the fiscal year beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the provisions of the amendments and the impact on its future condensed consolidated financial statements. In December 2023, the FASB issued ASU 2023-09 to improve disclosures and presentation requirements to the transparency of the income tax disclosures by requiring consistent categories and greater disaggregation of information in the rate reconciliation and income taxes paid disaggregated by jurisdiction. The amendment is effective in interim periods in the fiscal year beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the provisions of the amendments and the impact on its future condensed consolidated financial statements.

Revenue Receivables and Contrac

Revenue Receivables and Contract Assets and Liabilities	3 Months Ended
	Mar. 29, 2024
Revenue from Contract with Customer [Abstract]
Revenue Receivables and Contract Assets and Liabilities	Note 3. Revenue, Receivables and Contract Assets and Liabilities The following table presents the Company’s revenue disaggregated by contract types: Three Months Ended March 29, March 31, (In thousands) 2024 2023 Fixed-price $ 113,065 $ 151,528 Cost reimbursable 6,505 10,843 Equipment and labor revenue 473 1,737 Total revenue $ 120,043 $ 164,108 Projects started after the AECOM Sale Transactions ("Shimmick Projects") have focused on water infrastructure and other critical infrastructure. Projects that focus on foundation drilling are referred to as "Foundations Projects". Projects that started prior to consummation of the AECOM Sale Transactions are referred to as "Legacy Projects". The following table presents the Company’s revenue disaggregated by Shimmick Projects, Foundations Projects and Legacy Projects: Three Months Ended March 29, March 31, (In thousands) 2024 2023 Shimmick Projects $ 90,292 $ 88,099 Foundations Projects 6,640 20,104 Legacy Projects 23,111 55,905 Total revenue $ 120,043 $ 164,108 Remaining performance obligations The Company had $ 1.0 billion of remaining performance obligations yet to be satisfied as of March 29, 2024. Our remaining performance obligations have a weighted average life of 2.1 years as of March 29, 2024. Contract Balances The following table provides information about contract assets (also referred to as costs and estimated earnings in excess of billings on uncompleted contracts and retainage receivable) and contract liabilities (also referred to as billings on uncompleted contracts in excess of costs and estimated earnings and forward loss reserve), which include assets and liabilities that are dependent upon future activity: March 29, December 29, 2024 2023 Change (In thousands) Contract assets, current and non-current: Costs and estimated earnings in excess of billings on uncompleted contracts $ 136,031 $ 125,943 $ 10,088 Retainage receivable 46,703 48,316 ( 1,613 ) Total contract assets 182,734 174,259 8,475 Contract liabilities, current and non-current: Billings on uncompleted contracts in excess of costs and estimated earnings ( 43,548 ) ( 48,841 ) 5,293 Forward loss reserve ( 69,360 ) ( 70,159 ) 799 Total contract liabilities ( 112,908 ) ( 119,000 ) 6,092 Net $ 69,826 $ 55,259 $ 14,567 Contract terms with customers include the timing of billing and payment, which usually differs from the timing of revenue recognition. As a result, the Company carries contract assets and liabilities within the condensed consolidated balance sheets. These contract assets and liabilities are calculated on a contract-by-contract basis and reported on a net basis at the end of each period and are classified as current or non-current. Many of the contracts under which the Company performs work also contain retainage provisions. Retainage refers to that portion of our billings held for payment by the customer pending satisfactory completion of the project. Unless reserved, the Company assumes that all amounts retained by customers under such provisions are fully collectible. These assets and liabilities are reported in the condensed consolidated balance sheets within “Contract assets, current,” “Contract assets, non-current,” “Contract liabilities, current" and “Contract liabilities, non-current." Costs and estimated earnings in excess of billings on uncompleted contracts consists of revenue recognized in excess of billings. Billings on uncompleted contracts in excess of costs and estimated earnings consists of billings in excess of revenue recognized. The Company recognized revenue of $ 18.9 million during the three months ended March 29, 2024 that was included in contract liabilities as of December 29, 2023. The Company’s timing of revenue recognition may not be consistent with its rights to bill and collect cash from its clients. Those rights are generally dependent upon advance billing terms, milestone billings based on the completion of certain phases of work or when services are performed. The Company’s accounts receivable represents amounts billed to clients that have yet to be collected and represent an unconditional right to cash from its clients as presented below. March 29, December 29, 2024 2023 (In thousands) Total accounts receivable, gross $ 50,630 $ 55,202 Allowance for credit losses ( 930 ) ( 1,024 ) Accounts receivable, net $ 49,700 $ 54,178 Substantially all contract assets as of March 29, 2024 and December 29, 2023 are expected to be collected within the Company’s estimated operating cycle, except for retainage and claims pertaining to certain contracts. The Company’s operating cycle may extend beyond one year. The Company is in the process of negotiating or awaiting approval of unapproved change orders and claims with its customers. The Company is proceeding with its contractual rights to recoup additional costs incurred from its customers based on completing work associated with change orders, including change orders with pending change order pricing, or claims related to significant changes in scope which resulted in substantial delays and additional costs in completing the work. The Company may take legal action if it and the customer cannot reach a mutually acceptable resolution. Information about significant customers Significant Customers as a Percentage of Accounts Receivable, Net As of March 29, 2024 Customer one 29.6 % Customer two 17.2 % As of December 29, 2023 Customer one 32.5 % Customer two 21.7 % Significant Customers as a Percentage of Revenue Three Months Ended March 29, 2024 Customer one 21.2 % Customer two 14.8 % Three Months Ended March 31, 2023 Customer one 19.1 % Customer two 18.4 % Customer three 16.5 % Revisions in Estimates Changes in contract estimates resulted in net decreases in gross margin of $ 18 million for the three months ended March 29, 2024, primarily due to increased forecasted cost to complete loss jobs. There were no material changes in estimates for the three months ended March 31, 2023.

Joint Ventures and Variable Int

Joint Ventures and Variable Interest Entities	3 Months Ended
	Mar. 29, 2024
Joint Ventures and Variable Interest Entities Disclosure [Abstract]
Joint Ventures and Variable Interest Entities	Note 4. Joint Ventures and Variable Interest Entities A summary of financial information of the consolidated joint ventures is as follows: March 29, December 29, 2024 2023 (In thousands) Current assets $ 45,774 $ 34,071 Non-current assets - 8,971 Total assets 45,774 43,042 Current liabilities 61,543 59,602 Non-current liabilities 2,029 2,013 Total liabilities $ 63,572 $ 61,615 Three Months Ended March 29, March 31, 2024 2023 (In thousands) Revenue $ 4,004 $ 4,614 The assets of the Company’s consolidated joint ventures are restricted for use only by the particular joint venture and are not available for the general operations of the Company. A summary of financial information of the unconsolidated joint ventures, as derived from their financial statements, is as follows: March 29, December 29, 2024 2023 (In thousands) Current assets $ 81,404 $ 74,498 Non-current assets 12,862 14,333 Total assets 94,266 88,831 Current liabilities 40,928 42,817 Total liabilities $ 40,928 $ 42,817 Three Months Ended March 29, March 31, 2024 2023 (In thousands) Revenue $ 20,456 $ 28,888 Cost of revenue 20,931 33,972 Gross margin ( 475 ) ( 5,084 ) Net loss $ ( 475 ) $ ( 5,084 ) As of March 29, 2024 and December 29, 2023, the Company’s investment in unconsolidated joint ventures was $ 24 million and $ 21 million, respectively. The Company recognized equity in earnings of unconsolidated joint ventures of $ 263 thousand for the three months ended March 29, 2024 and equity in loss of unconsolidated joint ventures of $ 541 thousand for the three months ended March 31, 2023. Contractually required support provided to the Company’s joint ventures is discussed in Note 11 - Commitments and Contingencies. Related Party Transactions We often provide construction management and other subcontractor services to the Company’s joint ventures and revenue includes amounts related to these services which is eliminated to the extent of our ownership. Revenue included related to services provided to unconsolidated joint venture related parties is as follows: Three Months Ended March 29, March 31, 2024 2023 (In thousands) Revenue $ 478 $ 1,045 Amounts included in the condensed consolidated balance sheets related to services provided to unconsolidated joint ventures as of March 29, 2024 and December 29, 2023 are as follows: March 29, December 29, 2024 2023 (In thousands) Accounts receivable, net $ 2,471 $ 2,092

Property Plant and Equipment an

Property Plant and Equipment and Intangible Assets	3 Months Ended
	Mar. 29, 2024
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment and Intangible Assets	Note 5. Property, Plant and Equipment and Intangible Assets The following table summarizes the components of property, plant and equipment as of March 29, 2024 and December 29, 2023. March 29, December 29, (In thousands) 2024 2023 Building and land $ 3,993 $ 4,002 Machinery, equipment, and vehicles 70,406 70,250 Office equipment, software and construction in progress 13,402 9,324 Property, plant and equipment, gross 87,801 83,576 Accumulated depreciation ( 40,707 ) ( 37,203 ) Property, plant and equipment, net $ 47,094 $ 46,373 Three Months Ended March 29, March 31, 2024 2023 (In thousands) Depreciation expense $ 3,700 $ 3,507 Depreciation is recorded within cost of revenue and selling, general and administrative expenses and is calculated using the straight-line method over the estimated useful lives of the assets, or in the case of leasehold improvements and capitalized leases, the lesser of the remaining term of the lease or its estimated useful life. The following table presents the Company’s finite-lived intangible assets, including the weighted-average useful lives for each major intangible asset category and in total: March 29, 2024 Weighted Average Remaining Useful Life Intangible Assets, Gross Accumulated Amortization Intangible Assets, Net (In thousands) Trademark 3.8 $ 10,600 $ ( 4,921 ) $ 5,679 Customer contracts 2.8 6,373 ( 3,452 ) 2,921 Total $ 16,973 $ ( 8,373 ) $ 8,600 December 29, 2023 Weighted Average Remaining Useful Life Intangible Assets, Gross Accumulated Amortization Intangible Assets, Net (In thousands) Trademark 4 $ 10,600 $ ( 4,543 ) $ 6,057 Customer contracts 3 6,527 ( 3,340 ) 3,187 Total $ 17,127 $ ( 7,883 ) $ 9,244 The Company’s estimated aggregate remaining amortization is as follows: Amortization Expense (In thousands) 2024 $ 1,932 2025 2,577 2026 2,577 2027 1,514 Total $ 8,600

Debt

Debt	3 Months Ended
	Mar. 29, 2024
Debt Disclosure [Abstract]
Debt	Note 6. Debt Total debt outstanding is presented on the condensed consolidated balance sheets as follows: (In thousands) March 29, 2024 December 29, 2023 Revolving Credit Facility $ 31,749 $ 29,914 Total debt 31,749 29,914 Unamortized debt issuance costs ( 260 ) ( 287 ) Long-term debt, net $ 31,489 $ 29,627 Revolving Credit Facility On March 27, 2023, we entered into the Revolving Credit Facility with MidCap Financial Services, LLC, which originally provided a total commitment of $ 30 million. The Revolving Credit Facility was subsequently amended on June 30, 2023, September 22, 2023 and May 20, 2024. As amended, the Revolving Credit Facility provides for a total commitment of $ 33 million and bears interest at an annual rate of adjusted term SOFR, subject to a 1.0 % floor, plus 5 .50 %. Further, the Revolving Credit Facility is subject to an annual collateral management fee of 0.50 % and an annual unused line fee of 0.50 %. The Revolving Credit Facility includes certain financial operating covenants, including a minimum liquidity requirement of $5 million. As of March 29, 2024, we were not in compliance with the leverage covenant set forth in the Revolving Credit Facility prior to the May 20, 2024 amendment. As a result of the May 20, 2024 amendments, the leverage covenant was replaced with the aforementioned minimum liquidity requirement. As amended, we are currently in compliance with all covenants under the Revolving Credit Facility. The Revolving Credit Facility matures on September 30, 2024 . Project Financing Agreement On March 26, 2024, we entered into a Project Financing Agreement (the "Project Financing Agreement") with Berkshire Hathaway Specialty Insurance Company, National Liability & Fire Insurance Company and National Indemnity Company (collectively "Berkshire") which provides an advance of up to $ 25 million in exchange for security interest in the assigned and secured collateral specified in the Project Financing Agreement. If drawn, the advance will be used to satisfy bond and bonded contract obligations and bears interest at an annual rate of adjusted term SOFR, subject to a 1.0 % floor, plus 4.50 %. All funds provided by Berkshire under the Project Financing Agreement as well as all accrued interest are due and payable in full on March 28, 2028. In connection with our entry into the Credit Agreement (as defined below), we terminated the Project Financing Agreement. As a result, all obligations of the Company and its subsidiaries under the Project Financing Agreement were released and all security interests and liens granted by the Company and such subsidiaries to secure such obligations were terminated. Credit Facility On May 20, 2024, the Company, as guarantor, and its wholly-owned subsidiaries as borrowers (“Borrowers”), Alter Domus (US) LLC, as agent, and AECOM and BHSI as lenders, entered into a revolving credit facility (the “Credit Agreement”). The Credit Agreement provides borrowing capacity up to $ 60 million. The obligations under the Credit Agreement bear interest at a per annum rate equal to one month Term SOFR (as defined in the Credit Agreement), subject to a 1.00 % floor, plus 3.50 %. Interest on any outstanding amounts drawn under the Credit Agreement will be payable, in kind or in cash at the election of the Company, on the last day of each month and upon prepayment. The Credit Agreement replaced the Project Financing Agreement. The Company expects to use the proceeds from the Credit Agreement for general corporate purposes. The Credit Agreement matures on May 20, 2029 (the “Maturity Date”), and the Borrowers may borrow, repay and reborrow amounts under the Credit Agreement until the Maturity Date. Obligations of the Borrowers under the Credit Agreement are guaranteed by the Company and secured by a lien on substantially all assets of the Company and the Borrowers. The Credit Agreement contains customary affirmative and negative covenants for a transaction of this type, including covenants that limit liens, asset sales and investments, in each case subject to negotiated exceptions and baskets. In addition, the Credit Agreement contains a maximum leverage ratio covenant that will be tested starting for the third quarter of fiscal year 2025. The Credit Agreement also contains representations and warranties and event of default provisions customary for a transaction of this type.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 29, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Note 7. Income Taxes We compute the year-to-date income tax provision by applying our estimated annual effective tax rate to our year-to-date pre-tax income and adjust for discrete tax items in the period in which they occur. The effective tax rate was 0 % for the three months ended March 29, 2024, and March 31, 2023, respectively. For the three months ended March 29, 2024 and March 31, 2023, the deferred tax provision resulting from the current year loss is completely offset by the change in valuation allowance, resulting in zero tax expense. The Company generally anticipates a zero effective tax rate due to a full valuation allowance. However, the Company may recognize a current tax expense in a specific period if its taxable income, net of available deferred tax assets in that period, exceeds the allowable utilization of tax attributes such as NOL carryforwards. The allowable limitation typically restricts the use of NOL carryforwards to 80 % of taxable income. Deferred Tax Assets and Liabilities We recognize deferred tax assets and liabilities for future tax consequences arising from differences between the carrying amounts of existing assets and liabilities under U.S. GAAP and their respective tax bases, and for net operating loss carryforwards and tax credit carryforwards. We evaluate the recoverability of our deferred tax assets, weighing all positive and negative evidence, and are required to establish or maintain a valuation allowance for these assets if we determine that it is more likely than not that some or all the deferred tax assets will not be realized. As of each reporting date, we consider new evidence, both positive and negative, that could impact our view with regard to the future realization of deferred tax assets. We will maintain our positions with regard to future realization of deferred tax assets, including those with respect to which we continue maintaining valuation allowances, until there is sufficient new evidence to support a change in expectations. Such a change in expectations could arise due to many factors, including those impacting our forecasts of future earnings, as well as changes in the tax laws under which we operate and tax planning. It is not reasonably possible to forecast any such changes at the present time, but it is possible that, should they arise, our view of their effect on the future realization of deferred tax assets may impact materially our condensed consolidated financial statements. After weighing all the evidence, giving more weight to the evidence that was objectively verifiable, a valuation allowance of $ 133 million and $ 124 million as of March 29, 2024 and December 29, 2023, respectively, has been recorded to recognize only the portion of the deferred tax asset that is more likely than not to be realized. The amount of the deferred tax asset considered realizable, however, could be adjusted if estimates of future taxable income during the carryforward period are reduced or increased or if the objective negative evidence in the form of cumulative losses is no longer present and additional weight is given to subjective evidence such as our projections for growth.

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 29, 2024
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Note 8. Stock-Based Compensation On April 12, 2021, the Company’s Board approved the Company’s 2021 Stock Plan (the “2021 Stock Plan”). The 2021 Stock Plan reserves 5,477,200 of the Company’s shares for issuance of incentive instruments, including Incentive Stock Options (“ISOs”), Non-statutory Stock Options, Stock Appreciation Rights, Restricted Stock Awards, and Restricted Stock Unit Awards. ISOs granted under the Plan have a term of 10 years and vest over four years of service. On November 13, 2023, the Company’s Board approved the Shimmick Corporation 2023 Equity Incentive Plan (the “2023 Omnibus Incentive Plan”). 3,729,149 is the maximum aggregate number of shares of Common Stock available under the 2023 Omnibus Incentive Plan (equal to ten percent (10%) of the Company’s Common Stock outstanding immediately following the completion of the Company’s IPO on November 16, 2023 plus (ii) the reserved and authorized shares for awards under the Company’s 2021 Stock Plan that were not granted as of November 13, 2023). The maximum aggregate number of shares of Common Stock that may be issued under the 2023 Omnibus Incentive Plan will automatically increase annually on the first day of each fiscal year, beginning with the 2024 fiscal year in an amount equal to five percent (5%) of Common Stock outstanding on the last day of the immediately preceding fiscal year unless the plan administration determines that a lesser amount should instead be issued. The shares reserved under the 2023 Omnibus Incentive Plan are for issuance of incentive instruments, including stock options, restricted stock awards, restricted stock units, stock appreciation rights, performance units and other share-based awards. Total compensation expense related to stock-based grants was $ 1 millio n for each of the three months ended March 29, 2024 and March 31, 2023. Unrecognized compensation expense related to stock-based grants to employees of Shimmick outstanding as of March 29, 2024 and March 31, 2023 was $ 5 million and $ 4 million, respectively, to be recognized on a straight-line basis over the awards’ weighted average remaining vesting period of 1.1 years and 2.0 years, respectively. For the three months ended March 29, 2024, stock option activity was as follows: Stock Options Number of shares Weighted average exercise price per share Weighted average grant date fair value Weighted average years of remaining contractual term Outstanding as of December 29, 2023 4,137,183 $ 1.26 $ — 7.6 Exercised ( 195,864 ) 1.26 0.66 — Forfeited & expired ( 200,415 ) 1.26 0.66 — Outstanding as of March 29, 2024 3,740,904 1.26 0.66 7.1 Exercisable as of March 29, 2024 2,662,487 $ 1.26 $ 0.66 7.1 The following table summarizes the activities for unvested Shimmick restricted stock units for the three months ended March 29, 2024: Restricted Stock Units Number of shares Weighted average grant date fair value Unvested as of December 29, 2023 576,714 $ 6.49 Awarded 12,097 6.20 Forfeited ( 3,049 ) 6.5 6 Outstanding as of March 29, 2024 585,762 6.48 Ended vested as of March 29, 2024 39,683 6.56 Ended unvested as of March 29, 2024 546,079 $ 6.4 7

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 29, 2024
Earnings Per Share [Abstract]
Earnings Per Share	Note 9. Earnings Per Share Basic earnings per share (“EPS”) is calculated based on the weighted average shares outstanding during the period. Diluted earnings per share includes the dilutive effect of employee and director stock options and restricted stock units. Stock options are considered dilutive whenever the exercise price is less than the average market price of the stock during the period and antidilutive whenever the exercise price exceeds the average market price of the common stock during the period. All 3.7 million and 4.4 million employee stock options were excluded from the calculation of diluted earnings per share for the three months ended March 29, 2024 and March 31, 2023, respectively, as they are antidilutive to the EPS calculation. The computation of basic and diluted EPS is as follows: Three Months Ended (In thousands, except per share data) March 29, 2024 March 31, 2023 Numerator: Net loss attributable to Shimmick Corporation $ ( 33,333 ) $ ( 9,337 ) Numerator for basic and diluted EPS $ ( 33,333 ) $ ( 9,337 ) Denominator: Denominator for basic EPS - weighted average shares 25,560 21,909 Effect of dilutive securities: Employee stock options — — Restricted stock units — — Dilutive potential common shares — — Denominator for diluted EPS - adjusted weighted average shares and assumed conversions 25,560 21,909 Basic earnings per common share $ ( 1.30 ) $ ( 0.43 ) Diluted earnings per common share $ ( 1.30 ) $ ( 0.43 )

Leases

Leases	3 Months Ended
	Mar. 29, 2024
Leases [Abstract]
Leases	Note 10. Leases Lease expenses recorded within the condensed consolidated statements of operations are comprised as follows: Three Months Ended (In thousands) March 29, 2024 March 31, 2023 Operating lease cost Cost of revenue $ 2,353 $ 3,235 Selling, general and administrative expenses 305 293 Finance lease cost (all in cost of revenue): Amortization of right-of-use assets 66 75 Interest on lease liabilities 8 7 Short-term lease cost 82 143 Total lease cost $ 2,814 $ 3,753 Additional condensed consolidated balance sheets information related to leases is as follows: March 29, December 29, (In thousands) Balance Sheet Classification 2024 2023 Assets: Operating lease assets Lease right-of-use assets $ 23,130 $ 23,568 Finance lease assets Lease right-of-use assets 221 287 Total lease assets $ 23,351 $ 23,855 Liabilities:    Current:    Operating lease liabilities Other current liabilities $ 7,955 $ 8,247 Finance lease liabilities Other current liabilities 269 317 Total current lease liabilities    $ 8,224 $ 8,564 Non-current:    Operating lease liabilities Lease liabilities, non-current $ 14,855 $ 15,017 Finance lease liabilities Lease liabilities, non-current - 28 Total non-current lease liabilities $ 14,855 $ 15,045 Weighted average remaining lease term information related to leases is as follows: March 29, December 29, 2024 2023 Weighted average remaining lease term (in years): Operating leases 3.4 3.4 Finance leases 0.8 1.1 Weighted average discount rate: Operating leases 6.4 % 6.3 % Finance leases 9.9 % 9.9 % Supplemental cash flow information related to leases is as follows: Three Months Ended March 29, March 31, (In thousands) 2023 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 2,334 $ 2,792 Financing cash flows from finance leases 76 77 Right-of-use assets obtained in exchange for new operating leases $ 1,879 $ 8,604 Total remaining lease payments under both the Company’s operating and finance leases are as follows: Operating Financing (In thousands) Leases Leases Year 2024 $ 6,954 $ 253 2025 8,848 28 2026 4,005 — 2027 2,352 — 2028 2,187 — Thereafter 1,046 — Total lease payments 25,392 281 Amounts representing interest ( 2,582 ) ( 12 ) Total lease liabilities $ 22,810 $ 269

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 29, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 11. Commitments and Contingencies In the Company’s joint venture arrangements, the liability of each partner is usually joint and several. This means as each joint venture partner may become liable for the entire risk of performance guarantees provided by each partner to the customer. Typically, each joint venture partner indemnifies the other partners for any liabilities incurred in excess of the liabilities the other party is obligated to bear under the respective joint venture agreement. In addition, the Company may be required to guarantee performance directly to the customer. The Company is unable to estimate the maximum potential amount of future payments that the Company could be required to make under outstanding performance guarantees related to joint venture projects due to a number of factors, including but not limited to, the nature and extent of any contractual defaults by the other joint venture partners, resource availability, potential performance delays caused by the defaults, the location of the projects, and the terms of the related contracts. In the ordinary course of business, the Company is subject to other claims, lawsuits, investigations and disputes arising out of the conduct of its business, including matters relating to commercial transactions, government contracts, and employment matters. The Company recognizes a liability for contingencies that are probable of occurrence and reasonably estimable. To date, no such matters are material to the condensed consolidated statements of operations. In certain contracts, there are provisions that require the Company to pay liquidated damages if the Company is responsible for the failure to meet specified contractual milestone dates and the applicable customer asserts a conforming claim under these provisions. These contracts define the conditions under which customers may make claims against the Company for liquidated damages. Based upon the evaluation of performance and other commercial and legal analysis, management has recognized relevant probable liquidated damages as of March 29, 2024 and December 29, 2023, and believes that the ultimate resolution of such matters will not materially affect the Company's condensed consolidated financial position, results of operations, or cash flows. The Company has recorded contingent consideration as of March 29, 2024 and December 29, 2023 at its estimated fair value. The Company is unable to reasonably determine an estimated range of amounts of the payments that could be made due to the uncertainty of future events. Guarantees The Company obtains bonding on construction contracts through third-party bonding companies. As is customary in the construction industry, the Company indemnifies the third-party bonding companies for any losses incurred by it in connection with bonds that are issued. The Company has granted the third-party bonding companies a security interest in accounts receivable, contract assets and contract rights for that obligation. The Company typically indemnifies contract owners for claims arising during the construction process and carries insurance coverage for such claims. Letters of Credit In the ordinary course of business and under certain contracts, the Company is required to post standby letters of credit for its insurance carriers. The Company did not have any letters of credit outstanding as of March 29, 2024 or December 29, 2023.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 29, 2024
Subsequent Events [Abstract]
Subsequent Events	Note 12. Subsequent Events Sale of Assets of Foundations Projects Business On May 10, 2024, the Company entered into an agreement to sell the assets of its non-core Foundations Projects business for total consideration of $ 17.5 million, consisting of $ 15 million in cash and a $ 2.5 million promissory note. The net proceeds will be used to repay borrowings under the existing Revolving Credit Facility. Equipment Sale-Leaseback On May 10, 2024, the Company entered into a non-binding letter of intent for the sale-leaseback of its equipment yard in Tracy, California. The transaction contemplates the sale of the equipment yard for approximately $ 22 million, along with a five-year lease for Shimmick to continue using the property. The net proceeds will be used to repay borrowings under the existing Revolving Credit Facility. Mutual Release In connection with the entry into the Credit Agreement and related agreements, on May 20, 2024, we entered into a Settlement Agreement and Mutual Release with AECOM pursuant to which, among other things, we and our subsidiaries released AECOM from all claims that have or could have been asserted against us and our subsidiaries, including claims or defenses asserted or which could have been asserted under the Purchase and Sale Agreement, dated December 9, 2020, between AECOM, URS Holdings, Inc. and Shimmick Corporation (as successor in interest to SCC Group LLC (the “PSA”). In return, AECOM is releasing us and our subsidiaries from certain claims under the PSA, specifically those related to or arising in respect to: (a) the Golden Gate Bridge Project and the Gerald Desmond Bridge Project, under the claim sharing provisions contained in Sections 2.13(a)(i) and (a)(ii) of the PSA, respectively; (b) any Earn-Out Payment arising solely under Section 2.11 of the PSA and (c) the Chickamauga Lock Project arising under the claim sharing provisions of that certain Working Capital Settlement Agreement, dated as of January 31, 2022, by and among SCC Group LLC, AECOM and URS Holdings, Inc. In connection with the releases, AECOM will jointly file, or caused to be filed, a request for dismissal of the AECOM v. SCCI National Holdings, Inc., et al., Delaware Chancery Court C.A. No. 2022-0727-MTZ, in its entirety, with prejudice. Share Issuance In connection with the Mutual Release, we entered into a Share Issuance Agreement (the “Share Issuance Agreement”) with AECOM, pursuant to which we agreed to issue an aggregate 7,745,000 shares of common stock (the “Shares”). 5,144,622 of the Shares (the “Initial Shares”), which represent approximately 19.99 % of our outstanding common stock immediately prior to the issuance, were issued on May 20, 2024. Issuance of the remaining 2,600,378 Shares (the “Additional Shares”) are subject to approval by the Company’s stockholders, pursuant to NASDAQ listing requirements. Credit Agreements See Note 6 - Debt for additional information regarding subsequent events.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 29, 2024
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States (“GAAP”), and in conformity with the rules and regulations of the Securities and Exchange Commission. The information furnished reflects all adjustments, consisting of normal recurring adjustments, that are, in the opinion of management, necessary for a fair presentation of the results of operations, cash flows and financial position for the interim periods presented. A statement of comprehensive income is not presented as the Company’s results of operations do not contain any items classified as comprehensive income. All intercompany accounts and transactions have been eliminated. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted in accordance with such rules and regulations, although management believes the disclosures are adequate to prevent the information presented from being misleading. The accompanying condensed consolidated interim financial statements are unaudited and should be read in conjunction with the audited consolidated financial statements and notes in our Annual Report on Form 10-K for the fiscal year ended December 29, 2023 ("Form 10-K"). Because of the seasonal nature of some of the Company's operations, the results of operations for the three months ended March 29, 2024 are not necessarily indicative of the results of operations to be expected for the full fiscal year.
Change in Presentation	Change in Presentation Certain prior period balances in the condensed consolidated balance sheets and statements of cash flows and accompanying notes have been combined or rounded to conform to current period presentation. These changes had no impact on net loss, cash flows, assets and liabilities, or equity previously reported.
Stock Split	Stock Split On October 23, 2023, the Board of Directors (the "Board") approved an amendment to the Company’s Certificate of Incorporation in order to effect a stock split of the Company’s Common Stock. Further, the Board authorized 100,000,000 shares of Common Stock, with a par value of $ 0.01 par value per share and 25,000,000 shares of Preferred Stock, with a par value of $ 0.01 per share. Upon the effectiveness of the filing of the amendment, each share of common stock, par value $ 0.01 per share (the “Old Common Stock”), issued and outstanding automatically, without further action on the part of the Company or any holder of such Old Common Stock, was reclassified as and became 2.7386 validly issued, fully paid and non-assessable shares of Common Stock. There were no fractional shares issued with respect to the reclassification of shares of Old Common Stock. In lieu of fractional shares, the Company rounded up to the nearest whole number of shares of Common Stock. The Company has retro-actively applied the stock split made effective on October 23, 2023, to share and per share amounts in the condensed consolidated financial statements. Accordingly, any information related to or dependent upon the share amounts in the condensed consolidated financial statements and Note 8 - Stock-Based Compensation and Note 9 - Earnings Per Share have been updated to reflect the effect of the stock split.
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Our significant accounting policies are described in more detail in “Note 2 - Basis of Presentation and Summary of Significant Accounting Policies” of our Form 10-K.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements Accounting pronouncements not listed below were assessed and determined to be not applicable or are expected to have minimal impact on the condensed consolidated financial statements. In November 2023, the FASB issued ASU 2023-07 to enhance disclosures of significant expense and segment profitability categories and amounts for reportable business segments. The amendment is effective in interim periods in the fiscal year beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the provisions of the amendments and the impact on its future condensed consolidated financial statements. In December 2023, the FASB issued ASU 2023-09 to improve disclosures and presentation requirements to the transparency of the income tax disclosures by requiring consistent categories and greater disaggregation of information in the rate reconciliation and income taxes paid disaggregated by jurisdiction. The amendment is effective in interim periods in the fiscal year beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the provisions of the amendments and the impact on its future condensed consolidated financial statements.

Revenue Receivables and Contr_2

Revenue Receivables and Contract Assets and Liabilities (Tables)	3 Months Ended
	Mar. 29, 2024
Revenue from Contract with Customer [Abstract]
Summary of Company's Revenue Disaggregated by Contract Types	The following table presents the Company’s revenue disaggregated by contract types: Three Months Ended March 29, March 31, (In thousands) 2024 2023 Fixed-price $ 113,065 $ 151,528 Cost reimbursable 6,505 10,843 Equipment and labor revenue 473 1,737 Total revenue $ 120,043 $ 164,108 Projects started after the AECOM Sale Transactions ("Shimmick Projects") have focused on water infrastructure and other critical infrastructure. Projects that focus on foundation drilling are referred to as "Foundations Projects". Projects that started prior to consummation of the AECOM Sale Transactions are referred to as "Legacy Projects". The following table presents the Company’s revenue disaggregated by Shimmick Projects, Foundations Projects and Legacy Projects: Three Months Ended March 29, March 31, (In thousands) 2024 2023 Shimmick Projects $ 90,292 $ 88,099 Foundations Projects 6,640 20,104 Legacy Projects 23,111 55,905 Total revenue $ 120,043 $ 164,108
Summary of Information About Contract Assets and Contract Liabilities	The following table provides information about contract assets (also referred to as costs and estimated earnings in excess of billings on uncompleted contracts and retainage receivable) and contract liabilities (also referred to as billings on uncompleted contracts in excess of costs and estimated earnings and forward loss reserve), which include assets and liabilities that are dependent upon future activity: March 29, December 29, 2024 2023 Change (In thousands) Contract assets, current and non-current: Costs and estimated earnings in excess of billings on uncompleted contracts $ 136,031 $ 125,943 $ 10,088 Retainage receivable 46,703 48,316 ( 1,613 ) Total contract assets 182,734 174,259 8,475 Contract liabilities, current and non-current: Billings on uncompleted contracts in excess of costs and estimated earnings ( 43,548 ) ( 48,841 ) 5,293 Forward loss reserve ( 69,360 ) ( 70,159 ) 799 Total contract liabilities ( 112,908 ) ( 119,000 ) 6,092 Net $ 69,826 $ 55,259 $ 14,567
Summary of Unconditional Right to Cash from Clients	The Company’s accounts receivable represents amounts billed to clients that have yet to be collected and represent an unconditional right to cash from its clients as presented below. March 29, December 29, 2024 2023 (In thousands) Total accounts receivable, gross $ 50,630 $ 55,202 Allowance for credit losses ( 930 ) ( 1,024 ) Accounts receivable, net $ 49,700 $ 54,178
Summary of Information About Significant Customers	Information about significant customers Significant Customers as a Percentage of Accounts Receivable, Net As of March 29, 2024 Customer one 29.6 % Customer two 17.2 % As of December 29, 2023 Customer one 32.5 % Customer two 21.7 % Significant Customers as a Percentage of Revenue Three Months Ended March 29, 2024 Customer one 21.2 % Customer two 14.8 % Three Months Ended March 31, 2023 Customer one 19.1 % Customer two 18.4 % Customer three 16.5 %

Joint Ventures and Variable I_2

Joint Ventures and Variable Interest Entities (Tables)	3 Months Ended
	Mar. 29, 2024
Joint Ventures and Variable Interest Entities Disclosure [Abstract]
Summary of Financial Information of Consolidated Joint Ventures	A summary of financial information of the consolidated joint ventures is as follows: March 29, December 29, 2024 2023 (In thousands) Current assets $ 45,774 $ 34,071 Non-current assets - 8,971 Total assets 45,774 43,042 Current liabilities 61,543 59,602 Non-current liabilities 2,029 2,013 Total liabilities $ 63,572 $ 61,615 Three Months Ended March 29, March 31, 2024 2023 (In thousands) Revenue $ 4,004 $ 4,614
Summary of Financial Information of Unconsolidated Joint Ventures	A summary of financial information of the unconsolidated joint ventures, as derived from their financial statements, is as follows: March 29, December 29, 2024 2023 (In thousands) Current assets $ 81,404 $ 74,498 Non-current assets 12,862 14,333 Total assets 94,266 88,831 Current liabilities 40,928 42,817 Total liabilities $ 40,928 $ 42,817 Three Months Ended March 29, March 31, 2024 2023 (In thousands) Revenue $ 20,456 $ 28,888 Cost of revenue 20,931 33,972 Gross margin ( 475 ) ( 5,084 ) Net loss $ ( 475 ) $ ( 5,084 )
Summary of Revenue Included Related to Services Provided to Related Parties	Revenue included related to services provided to unconsolidated joint venture related parties is as follows: Three Months Ended March 29, March 31, 2024 2023 (In thousands) Revenue $ 478 $ 1,045
Summary of Condensed Consolidated Balance Sheets Related to Services Provided to Unconsolidated Joint Ventures	Amounts included in the condensed consolidated balance sheets related to services provided to unconsolidated joint ventures as of March 29, 2024 and December 29, 2023 are as follows: March 29, December 29, 2024 2023 (In thousands) Accounts receivable, net $ 2,471 $ 2,092

Property Plant and Equipment _2

Property Plant and Equipment and Intangible Assets (Tables)	3 Months Ended
	Mar. 29, 2024
Property, Plant and Equipment [Abstract]
Schedule of Components of Property Plant and Equipment Net	The following table summarizes the components of property, plant and equipment as of March 29, 2024 and December 29, 2023. March 29, December 29, (In thousands) 2024 2023 Building and land $ 3,993 $ 4,002 Machinery, equipment, and vehicles 70,406 70,250 Office equipment, software and construction in progress 13,402 9,324 Property, plant and equipment, gross 87,801 83,576 Accumulated depreciation ( 40,707 ) ( 37,203 ) Property, plant and equipment, net $ 47,094 $ 46,373 Three Months Ended March 29, March 31, 2024 2023 (In thousands) Depreciation expense $ 3,700 $ 3,507
Schedule of Finite Lived Intangible Assets Including the Weighted Average Useful Lives	The following table presents the Company’s finite-lived intangible assets, including the weighted-average useful lives for each major intangible asset category and in total: March 29, 2024 Weighted Average Remaining Useful Life Intangible Assets, Gross Accumulated Amortization Intangible Assets, Net (In thousands) Trademark 3.8 $ 10,600 $ ( 4,921 ) $ 5,679 Customer contracts 2.8 6,373 ( 3,452 ) 2,921 Total $ 16,973 $ ( 8,373 ) $ 8,600 December 29, 2023 Weighted Average Remaining Useful Life Intangible Assets, Gross Accumulated Amortization Intangible Assets, Net (In thousands) Trademark 4 $ 10,600 $ ( 4,543 ) $ 6,057 Customer contracts 3 6,527 ( 3,340 ) 3,187 Total $ 17,127 $ ( 7,883 ) $ 9,244
Schedule of Estimated Aggregate Remaining Amortization	The Company’s estimated aggregate remaining amortization is as follows: Amortization Expense (In thousands) 2024 $ 1,932 2025 2,577 2026 2,577 2027 1,514 Total $ 8,600

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 29, 2024
Debt Disclosure [Abstract]
Schedule of debt	Total debt outstanding is presented on the condensed consolidated balance sheets as follows: (In thousands) March 29, 2024 December 29, 2023 Revolving Credit Facility $ 31,749 $ 29,914 Total debt 31,749 29,914 Unamortized debt issuance costs ( 260 ) ( 287 ) Long-term debt, net $ 31,489 $ 29,627

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Mar. 29, 2024
Share-Based Payment Arrangement [Abstract]
Summary of Stock Option Activity	For the three months ended March 29, 2024, stock option activity was as follows: Stock Options Number of shares Weighted average exercise price per share Weighted average grant date fair value Weighted average years of remaining contractual term Outstanding as of December 29, 2023 4,137,183 $ 1.26 $ — 7.6 Exercised ( 195,864 ) 1.26 0.66 — Forfeited & expired ( 200,415 ) 1.26 0.66 — Outstanding as of March 29, 2024 3,740,904 1.26 0.66 7.1 Exercisable as of March 29, 2024 2,662,487 $ 1.26 $ 0.66 7.1
Summary of Unvested Restricted Stock Units	The following table summarizes the activities for unvested Shimmick restricted stock units for the three months ended March 29, 2024: Restricted Stock Units Number of shares Weighted average grant date fair value Unvested as of December 29, 2023 576,714 $ 6.49 Awarded 12,097 6.20 Forfeited ( 3,049 ) 6.5 6 Outstanding as of March 29, 2024 585,762 6.48 Ended vested as of March 29, 2024 39,683 6.56 Ended unvested as of March 29, 2024 546,079 $ 6.4 7

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 29, 2024
Earnings Per Share [Abstract]
Summary of computation of basic and diluted EPS	The computation of basic and diluted EPS is as follows: Three Months Ended (In thousands, except per share data) March 29, 2024 March 31, 2023 Numerator: Net loss attributable to Shimmick Corporation $ ( 33,333 ) $ ( 9,337 ) Numerator for basic and diluted EPS $ ( 33,333 ) $ ( 9,337 ) Denominator: Denominator for basic EPS - weighted average shares 25,560 21,909 Effect of dilutive securities: Employee stock options — — Restricted stock units — — Dilutive potential common shares — — Denominator for diluted EPS - adjusted weighted average shares and assumed conversions 25,560 21,909 Basic earnings per common share $ ( 1.30 ) $ ( 0.43 ) Diluted earnings per common share $ ( 1.30 ) $ ( 0.43 )

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 29, 2024
Leases [Abstract]
Schedule of Lease Expense	Lease expenses recorded within the condensed consolidated statements of operations are comprised as follows: Three Months Ended (In thousands) March 29, 2024 March 31, 2023 Operating lease cost Cost of revenue $ 2,353 $ 3,235 Selling, general and administrative expenses 305 293 Finance lease cost (all in cost of revenue): Amortization of right-of-use assets 66 75 Interest on lease liabilities 8 7 Short-term lease cost 82 143 Total lease cost $ 2,814 $ 3,753
Schedule of Balance Sheets Information Related to Leases	Additional condensed consolidated balance sheets information related to leases is as follows: March 29, December 29, (In thousands) Balance Sheet Classification 2024 2023 Assets: Operating lease assets Lease right-of-use assets $ 23,130 $ 23,568 Finance lease assets Lease right-of-use assets 221 287 Total lease assets $ 23,351 $ 23,855 Liabilities:    Current:    Operating lease liabilities Other current liabilities $ 7,955 $ 8,247 Finance lease liabilities Other current liabilities 269 317 Total current lease liabilities    $ 8,224 $ 8,564 Non-current:    Operating lease liabilities Lease liabilities, non-current $ 14,855 $ 15,017 Finance lease liabilities Lease liabilities, non-current - 28 Total non-current lease liabilities $ 14,855 $ 15,045
Schedule of Weighted Average Remaining Lease Term	Weighted average remaining lease term information related to leases is as follows: March 29, December 29, 2024 2023 Weighted average remaining lease term (in years): Operating leases 3.4 3.4 Finance leases 0.8 1.1 Weighted average discount rate: Operating leases 6.4 % 6.3 % Finance leases 9.9 % 9.9 %
Schedule of Supplemental Cash Flow Information Related to Leases	Supplemental cash flow information related to leases is as follows: Three Months Ended March 29, March 31, (In thousands) 2023 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 2,334 $ 2,792 Financing cash flows from finance leases 76 77 Right-of-use assets obtained in exchange for new operating leases $ 1,879 $ 8,604
Schedule of Remaining Lease Payments Under Operating and Financing Leases	Total remaining lease payments under both the Company’s operating and finance leases are as follows: Operating Financing (In thousands) Leases Leases Year 2024 $ 6,954 $ 253 2025 8,848 28 2026 4,005 — 2027 2,352 — 2028 2,187 — Thereafter 1,046 — Total lease payments 25,392 281 Amounts representing interest ( 2,582 ) ( 12 ) Total lease liabilities $ 22,810 $ 269

Business and Organization - Add

Business and Organization - Additional Information (Details) $ / shares in Units, $ in Millions	Nov. 16, 2023 USD ($) $ / shares shares
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Initial public offering | shares	3,575,000
Common stock price per share | $ / shares	$ 7
Proceeds from IPO	$ 19
Proceeds after deducting underwriting discounts and commissions	2
Other offering costs	$ 4

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies - Additional Information (Details) - $ / shares	Mar. 29, 2024	Dec. 29, 2023	Oct. 23, 2023
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Common stock, shares authorized	100,000,000	100,000,000	100,000,000
Common stock, par or stated value per share	$ 0.01	$ 0.01	$ 0.01
Preferred stock authorized			25,000,000
Preferred stock, par or stated value per share			$ 0.01
Common stock, shares issued	25,738,857	25,493,877	2.7386
Old Common Stock [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Common stock, par or stated value per share			$ 0.01

Revenue Receivables and Contr_3

Revenue Receivables and Contract Assets and Liabilities - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 29, 2024	Mar. 31, 2023
Disaggregation of Revenue [Line Items]
Performance obligations yet to be satisfied	$ 1,000,000
Revenue performance obligation weighted average life	2 years 1 month 6 days
Revenue recognized	$ 18,900
Net (loss) income	(33,334)	$ (9,333)
Revisions in Estimates Increase [Member]
Disaggregation of Revenue [Line Items]
Net (loss) income	$ 18,000

Revenue Receivables and Contr_4

Revenue Receivables and Contract Assets and Liabilities - Summary of Company's Revenue Disaggregated by Contract Types (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 29, 2024	Mar. 31, 2023
Disaggregation of Revenue [Line Items]
Total revenue	$ 120,043	$ 164,108
Fixed-Price [Member]
Disaggregation of Revenue [Line Items]
Total revenue	113,065	151,528
Cost Reimbursable [Member]
Disaggregation of Revenue [Line Items]
Total revenue	6,505	10,843
Equipment and Labor Revenue [Member]
Disaggregation of Revenue [Line Items]
Total revenue	$ 473	$ 1,737

Revenue Receivables and Contr_5

Revenue Receivables and Contract Assets and Liabilities - Summary of Company's Revenue Disaggregated by Shimmick Projects and Legacy Projects (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 29, 2024	Mar. 31, 2023
Disaggregation of Revenue [Line Items]
Total revenue	$ 120,043	$ 164,108
Shimmick Projects [Member]
Disaggregation of Revenue [Line Items]
Total revenue	90,292	88,099
Foundations Projects [Member]
Disaggregation of Revenue [Line Items]
Total revenue	6,640	20,104
Legacy Projects [Member]
Disaggregation of Revenue [Line Items]
Total revenue	$ 23,111	$ 55,905

Revenue Receivables and Contr_6

Revenue Receivables and Contract Assets and Liabilities - Summary of Information about Contract Assets and Contract Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 29, 2024	Mar. 31, 2023	Dec. 29, 2023
Revenue from Contract with Customer [Abstract]
Costs and estimated earnings in excess of billings on uncompleted contracts	$ 136,031		$ 125,943
Costs and estimated earnings in excess of billings on uncompleted contracts, Change	10,088
Retainage receivable	46,703		48,316
Retainage receivable, Change	(1,613)
Total contract assets	182,734		174,259
Total contract assets, Change	8,475	$ 6,902
Billings on uncompleted contracts in excess of costs and estimated earnings	(43,548)		(48,841)
Billings on uncompleted contracts in excess of costs and estimated earnings, Change	5,293
Forward loss reserve	(69,360)		(70,159)
Forward loss reserve, Change	799
Total contract liabilities	(112,908)		(119,000)
Total contract liabilities, Change	6,092
Net	69,826		$ 55,259
Net, Change	$ 14,567

Revenue Receivables and Contr_7

Revenue Receivables and Contract Assets and Liabilities - Summary of Unconditional Right to Cash from Clients (Details) - USD ($) $ in Thousands	Mar. 29, 2024	Dec. 29, 2023
Revenue from Contract with Customer [Abstract]
Total accounts receivable, gross	$ 50,630	$ 55,202
Allowance for credit losses	(930)	(1,024)
Accounts receivable, net	$ 49,700	$ 54,178

Revenue Receivables and Contr_8

Revenue Receivables and Contract Assets and Liabilities - Summary of Information about Significant Customers (Details) - Customer Concentration Risk [Member]	3 Months Ended		12 Months Ended
	Mar. 29, 2024	Mar. 31, 2023	Dec. 29, 2023
Customer One [Member] | Percentage of Accounts Receivable [Member]
Concentration Risk [Line Items]
Concentration of risk	29.60%		32.50%
Customer One [Member] | Percentage of Revenue [Member]
Concentration Risk [Line Items]
Concentration of risk	21.20%	19.10%
Customer Two [Member] | Percentage of Accounts Receivable [Member]
Concentration Risk [Line Items]
Concentration of risk	17.20%		21.70%
Customer Two [Member] | Percentage of Revenue [Member]
Concentration Risk [Line Items]
Concentration of risk	14.80%	18.40%
Customer Three [Member] | Percentage of Revenue [Member]
Concentration Risk [Line Items]
Concentration of risk		16.50%

Joint Ventures and Variable I_3

Joint Ventures and Variable Interest Entities -Summary of Financial Information of Consolidated Joint Ventures (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 29, 2024	Mar. 31, 2023	Dec. 29, 2023
Current assets	$ 225,665		$ 257,458
TOTAL ASSETS	377,993		426,652
Current liabilities	269,752		271,253
TOTAL LIABILITIES	339,875		356,162
Revenue	120,043	$ 164,108
Variable Interest Entity, Primary Beneficiary [Member]
Current assets	45,774		34,071
Non-current assets	0		8,971
TOTAL ASSETS	45,774		43,042
Current liabilities	61,543		59,602
Non-current liabilities	2,029		2,013
TOTAL LIABILITIES	63,572		$ 61,615
Revenue	$ 4,004	$ 4,614

Joint Ventures and Variable I_4

Joint Ventures and Variable Interest Entities -Summary of Financial Information of Unconsolidated Joint Ventures (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 29, 2024	Mar. 31, 2023	Dec. 29, 2023
Current assets	$ 225,665		$ 257,458
TOTAL ASSETS	377,993		426,652
Current liabilities	269,752		271,253
TOTAL LIABILITIES	339,875		356,162
Revenue	120,043	$ 164,108
Gross margin	(15,860)	6,222
Net (loss) income	(33,334)	(9,333)
Variable Interest Entity, Not Primary Beneficiary [Member]
Current assets	81,404		74,498
Non-current assets	12,862		14,333
TOTAL ASSETS	94,266		88,831
Current liabilities	40,928		42,817
TOTAL LIABILITIES	40,928		$ 42,817
Revenue	20,456	28,888
Cost of revenue	20,931	33,972
Gross margin	(475)	(5,084)
Net (loss) income	$ (475)	$ (5,084)

Joint Ventures and Variable I_5

Joint Ventures and Variable Interest Entities - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 29, 2024	Mar. 31, 2023	Dec. 29, 2023
Statement of Financial Position [Abstract]
Investment in unconsolidated joint ventures	$ 23,731		$ 21,283
Equity in earnings (loss) of unconsolidated joint ventures	$ 263	$ (541)

Joint Ventures and Variable I_6

Joint Ventures and Variable Interest Entities -Summary of Revenue Included Related to Services Provided to Related Parties (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 29, 2024	Mar. 31, 2023
Related Party Transaction [Line Items]
Revenue	$ 120,043	$ 164,108
Related Party [Member]
Related Party Transaction [Line Items]
Revenue	$ 478	$ 1,045

Joint Ventures and Variable I_7

Joint Ventures and Variable Interest Entities - Summary of Condensed Consolidated Balance Sheets Related to Services Provided to Unconsolidated Joint Ventures (Details) - USD ($) $ in Thousands	Mar. 29, 2024	Dec. 29, 2023
Related Party [Member]
Accounts receivable, net	$ 2,471	$ 2,092

Property Plant and Equipment _3

Property Plant and Equipment and Intangible Assets - Schedule of Components of Property Plant and Equipment Net (Details) - USD ($) $ in Thousands	Mar. 29, 2024	Dec. 29, 2023
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 87,801	$ 83,576
Accumulated depreciation	(40,707)	(37,203)
Property, plant and equipment, net	47,094	46,373
Building and land [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	3,993	4,002
Machinery, equipment, and vehicles [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	70,406	70,250
Office equipment, software and construction in progress [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 13,402	$ 9,324

Property Plant and Equipment _4

Property Plant and Equipment and Intangible Assets - Schedule of Components of Property Plant and Equipment Net (Depreciation Expense) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 29, 2024	Mar. 31, 2023
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 3,700	$ 3,507

Property Plant and Equipment _5

Property Plant and Equipment and Intangible Assets - Schedule of Finite-Lived Intangible Assets Including the weighted Average Useful Lives (Details) - USD ($) $ in Thousands	Mar. 29, 2024	Dec. 29, 2023
Finite-Lived Intangible Assets [Line Items]
Intangible Assets, Gross	$ 16,973	$ 17,127
Accumulated Amortization	(8,373)	(7,883)
Total	$ 8,600	$ 9,244
Trademark [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Useful Life	3 years 9 months 18 days	4 years
Intangible Assets, Gross	$ 10,600	$ 10,600
Accumulated Amortization	(4,921)	(4,543)
Total	$ 5,679	$ 6,057
Customer contracts [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Useful Life	2 years 9 months 18 days	3 years
Intangible Assets, Gross	$ 6,373	$ 6,527
Accumulated Amortization	(3,452)	(3,340)
Total	$ 2,921	$ 3,187

Property Plant and Equipment _6

Property Plant and Equipment and Intangible Assets - Schedule of Estimated Aggregate Remaining Amortization (Details) - USD ($) $ in Thousands	Mar. 29, 2024	Dec. 29, 2023
Property, Plant and Equipment [Abstract]
2024	$ 1,932
2025	2,577
2026	2,577
2027	1,514
Total	$ 8,600	$ 9,244

Debt - Schedule of Debt (Detail

Debt - Schedule of Debt (Details) - USD ($) $ in Thousands	Mar. 29, 2024	Dec. 29, 2023
Debt Instrument [Line Items]
Total debt	$ 31,749	$ 29,914
Unamortized debt issuance costs	(260)	(287)
Long-term debt, net	31,489	29,627
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Total debt	$ 31,749	$ 29,914

Debt - Additional Information (

Debt - Additional Information (Details) - USD ($) $ in Millions	May 16, 2024	Mar. 26, 2024	Sep. 22, 2023	Mar. 27, 2023
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of credit facility, borrowing capacity			$ 33	$ 30
Revolving Line of Credit termination date			Sep. 30, 2024
Line of credit facility, unused line fee , percentage			0.50%
Collateral management fee			0.50%
Revolving Credit Facility [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate, percentage			0.50%
Revolving Credit Facility [Member] | Base Rate [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate, percentage			1%
Line of Credit [Member]
Debt Instrument [Line Items]
Line of credit facility, borrowing capacity	$ 60
Line of Credit [Member] | Subsequent Event [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate, percentage	1%
Line of Credit [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate, percentage	3.50%
Project Financing Agreement
Debt Instrument [Line Items]
Insurance advance received from surety		$ 25
Project Financing Agreement | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate, percentage		4.50%
Project Financing Agreement | Base Rate [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate, percentage		1%

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 29, 2024	Mar. 31, 2023	Dec. 29, 2023
Income Tax Disclosure [Abstract]
Effective tax rate	0%	0%
Carryforward taxable income	80%
Effective tax rate valuation allowance	0%
Valuation allowance of the deferred tax asset	$ 133		$ 124

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Details) - USD ($) $ in Millions		3 Months Ended
	Apr. 12, 2021	Mar. 29, 2024	Mar. 31, 2023	Nov. 13, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Compensation expense related to stock-based grants		$ 1
Unrecognized compensation expense		$ 5	$ 4
Recognition period of unrecognized compensation expense		1 year 1 month 6 days	2 years
2021 Stock Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Common stock, capital shares reserved for future issuance (in shares)	5,477,200
Expiration term	10 years
Vesting period	4 years
2023 Equity Incentive Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Common stock, capital shares reserved for future issuance (in shares)				3,729,149

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Stock Option Activity (Details) - $ / shares	3 Months Ended	12 Months Ended
	Mar. 29, 2024	Dec. 29, 2023
Share-Based Payment Arrangement [Abstract]
Number of shares, Outstanding as of December 29, 2023	4,137,183
Number of shares, Exercised	(195,864)
Number of shares, Forfeited & expired	(200,415)
Number of shares, Outstanding as of March 29, 2024	3,740,904	4,137,183
Number of shares, Exercisable as of September 29, 2023	2,662,487
Weighted average exercise price per share, Outstanding as of December 29, 2023	$ 1.26
Weighted average exercise price per share, Exercised	1.26
Weighted average exercise price per share, Forfeited & expired	1.26
Weighted average exercise price per share, Outstanding as of March 29, 2024	1.26	$ 1.26
Weighted average exercise price per share, Exercisable as of March 29, 2024	1.26
Weighted average grant date fair value, Outstanding as of December 29, 2023	0
Weighted average grant date fair value, Exercised	0.66
Weighted average grant date fair value, Forfeited & expired	0.66
Weighted average grant date fair value, Outstanding as of March 29, 2024	0.66	$ 0
Weighted average grant date fair value, Exercisable as of March 29, 2024	$ 0.66
Weighted average years of remaining contractual term, Outstanding	7 years 1 month 6 days	7 years 7 months 6 days
Weighted average years of remaining contractual term, Exercised	0 years
Weighted average years of remaining contractual term, Forfeited & expired	0 years
Weighted average years of remaining contractual term, Exercisable as of September 29, 2023	7 years 1 month 6 days

Stock-Based Compensation - Su_2

Stock-Based Compensation - Summary of Unvested Restricted Stock Units (Details) - Restricted Stock Units (RSUs) [Member]	3 Months Ended
	Mar. 29, 2024 $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Beginning Balance | shares	576,714
Awarded | shares	12,097
Forfeited | shares	(3,049)
Outstanding as of March 29, 2024 | shares	585,762
Ended vested as of March 29, 2024 | shares	39,683
Ending balance | shares	546,079
Weighted average grant date fair value Beginning balance | $ / shares	$ 6.49
Weighted average grant date fair value, Awarded | $ / shares	6.2
Weighted average grant date fair value , Forfeited | $ / shares	6.5
Weighted average grant date fair value, Out standing Ending | $ / shares	6.48
Weighted average grant date fair value, Vested | $ / shares	6.56
Weighted average grant date fair value, Ending balance | $ / shares	$ 6.4

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Details) - shares shares in Millions	3 Months Ended
	Mar. 29, 2024	Mar. 31, 2023
Earnings Per Share [Abstract]
Employee stock options excluded from diluted EPS	3.7	4.4

Earnings Per Share - Summary of

Earnings Per Share - Summary of computation of basic and diluted EPS (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 29, 2024	Mar. 31, 2023
Numerator:
Net loss attributable to Shimmick Corporation	$ (33,333)	$ (9,337)
Numerator for basic and diluted EPS	$ (33,333)	$ (9,337)
Denominator:
Denominator for basic EPS - weighted average shares	25,560	21,909
Effect of dilutive securities:
Employee stock options	0	0
Restricted stock units	0	0
Dilutive potential common shares	0	0
Denominator for diluted EPS - adjusted weighted average shares and assumed conversions	25,560	21,909
Basic EPS:
Basic earnings per common share	$ (1.3)	$ (0.43)
Diluted EPS:
Diluted earnings per common share	$ (1.3)	$ (0.43)

Leases - Schedule of Lease Expe

Leases - Schedule of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 29, 2024	Mar. 31, 2023
Lessee, Lease, Description [Line Items]
Amortization of right-of-use assets	$ 66	$ 75
Interest on lease liabilities	8	7
Short term lease cost	82	143
Total lease cost	2,814	3,753
Cost of Revenue [Member]
Lessee, Lease, Description [Line Items]
Operating lease cost	2,353	3,235
Selling, General and Administrative Expenses [Member]
Lessee, Lease, Description [Line Items]
Operating lease cost	$ 305	$ 293

Leases - Schedule of Balance Sh

Leases - Schedule of Balance Sheets Information Related to Leases (Details) - USD ($) $ in Thousands	Mar. 29, 2024	Dec. 29, 2023
Leases [Abstract]
Operating Lease, Asset, Statement of Financial Position [Extensible Enumeration]	Total lease assets	Total lease assets
Finance Lease, Asset, Statement of Financial Position [Extensible Enumeration]	Total lease assets	Total lease assets
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Other Liabilities, Current	Other Liabilities, Current
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Other Liabilities, Current	Other Liabilities, Current
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Total non-current lease liabilities	Total non-current lease liabilities
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Total non-current lease liabilities	Total non-current lease liabilities
Operating lease assets	$ 23,130	$ 23,568
Finance lease assets	221	287
Total lease assets	23,351	23,855
Operating lease liabilities, current	7,955	8,247
Finance lease liabilities, current	269	317
Total current lease liabilities	8,224	8,564
Operating lease liabilities, noncurrent	14,855	15,017
Finance lease liabilities, noncurrent	0	28
Total non-current lease liabilities	$ 14,855	$ 15,045

Leases - Schedule of Weighted A

Leases - Schedule of Weighted Average Remaining Lease Term (Details)	Mar. 29, 2024	Dec. 29, 2023
Leases [Abstract]
Weighted-average remaining lease term - Operating leases	3 years 4 months 24 days	3 years 4 months 24 days
Weighted-average remaining lease term - Finance leases	9 months 18 days	1 year 1 month 6 days
Weighted-average discount rate - Operating leases	6.40%	6.30%
Weighted-average discount rate - Finance leases	9.90%	9.90%

Leases - Schedule of Supplement

Leases - Schedule of Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 29, 2024	Mar. 31, 2023
Lessee, Lease, Description [Line Items]
Operating cash flows from operating leases	$ 2,334	$ 2,792
Financing cash flows from finance leases	76	77
Right-of-use assets obtained in exchange for new operating leases	$ 1,879	$ 8,604

Leases - Schedule of Remaining

Leases - Schedule of Remaining Lease Payments Under Operating and Financing Leases (Details) $ in Thousands	Mar. 29, 2024 USD ($)
Operating Leases
2024	$ 6,954
2025	8,848
2026	4,005
2027	2,352
2028	2,187
Thereafter	1,046
Total lease payments	25,392
Amounts representing interest	(2,582)
Total lease liabilities	22,810
Financing Leases
2024	253
2025	28
2026	0
2027	0
2028	0
Thereafter	0
Total lease payments	281
Amounts representing interest	(12)
Total lease liabilities	$ 269

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) - USD ($) $ in Thousands		3 Months Ended
	May 10, 2024	Mar. 29, 2024	Mar. 31, 2023	May 16, 2024	Dec. 29, 2023	Oct. 23, 2023
Subsequent Event [Line Items]
Proceeds from Intent for the sale leaseback		$ 1,835	$ 22,808
Common stock, shares issued		25,738,857			25,493,877	2.7386
Subsequent Event [Member]
Subsequent Event [Line Items]
Total consideration	$ 17,500
Consideration in cash	15,000
Consideration in promissory note	2,500
Proceeds from Intent for the sale leaseback	$ 22,000
Subsequent Event [Member] | Share Issuance Agreement [Member]
Subsequent Event [Line Items]
Common stock shares agreed to issue				7,745,000
Common stock, shares issued				5,144,622
Remaining shares for issuance				2,600,378
Percentage of common stock shares outstanding				19.99%