Annual report pursuant to Section 13 and 15(d)

Summary of Significant Accounting Policies (Tables)

v3.22.4
Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Jan. 01, 2023
Accounting Policies [Abstract]  
Summary of Estimated Useful Lives of Property and Equipment
Property and equipment are depreciated or amortized using the straight-line method over the estimated useful lives of the following assets below.
Estimated Useful Life (in Years)
Machinery and equipment 2 - 10
Office equipment and software 3 - 5
Furniture and fixtures 3 - 5
Leasehold improvements Shorter of the economic life or the remaining lease term
Property and equipment consists of the following categories (in thousands).
January 1, 2023 January 2,
2022
Machinery and equipment $ 55,694  $ 6,636 
Office equipment and software 1,586  918 
Furniture and fixtures 771  639 
Leasehold improvements 24,565  1,878 
Construction in process 33,268  71,133 
Total property and equipment 115,884  81,204 
Less: accumulated depreciation (12,016) (4,591)
Property and equipment, net $ 103,868  $ 76,613 
The following table summarizes the depreciation and amortization expenses related to property and equipment, which were recorded within cost of revenue, research and development expense and selling, general and administrative expense in the Consolidated Statements of Operations and Comprehensive Loss (in thousands).
Fiscal Years
2022 2021 2020
Depreciation expense $ 7,425  $ 995  $ 579