Joint Ventures and Variable Interest Entities (Tables)

6 Months Ended

Jul. 04, 2025

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:


	July 4,		January 3,
	2025		2025
(In thousands)
Current assets	$	10,470	$	11,063
Total assets	$	10,470	$	11,063
Current liabilities	$	44,216	$	63,512
Non-current liabilities		3,295		2,433
Total liabilities	$	47,511	$	65,945


	Three Months Ended				Six Months Ended
	July 4,		June 28,		July 4,		June 28,
	2025		2024		2025		2024
(In thousands)
Revenue	$	4,091	$	3,354	$	12,229	$	7,358

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:


	July 4,		January 3,
	2025		2025
(In thousands)
Current assets	$	48,153	$	60,738
Non-current assets		6,708		9,573
Total assets	$	54,861	$	70,311
Current liabilities	$	25,032	$	28,351
Total liabilities	$	25,032	$	28,351


	Three Months Ended						Six Months Ended
	July 4,			June 28,			July 4,			June 28,
	2025			2024			2025			2024
(In thousands)
Revenue	$	12,651		$	11,169		$	31,469		$	31,625
Cost of revenue		13,579			17,894			31,599			38,825
Gross margin	$	(928	)	$	(6,725	)	$	(130	)	$	(7,200	)
Net loss	$	(928	)	$	(6,725	)	$	(130	)	$	(7,200	)

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				Six Months Ended
	July 4,		June 28,		July 4,		June 28,
	2025		2024		2025		2024
(In thousands)
Revenue	$	168	$	255	$	440	$	733

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 July 4, 2025 and January 3, 2025 are as follows:


	July 4,		January 3,
	2025		2025
(In thousands)
Accounts receivable, net	$	2,058	$	2,098

Shimmick Corp 10-Q