0001424929-26-000035 | 10-Q | XBRL Viewer

Inventory

3 Months Ended

Apr. 03, 2026

Inventory consisted of the following:


	April 3, 2026		January 2, 2026
Raw materials	$	225,118	$	226,341
Work-in-process	15,129		22,440
Finished goods	134,869		139,854
Total inventory	$	375,116	$	388,635

Net Loss Per Share - Calculation of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Apr. 03, 2026	Apr. 04, 2025
Earnings Per Share [Abstract]
Net loss attributable to FOX stockholders	$ (14,996)	$ (259,694)
Weighted average shares used to compute basic earnings per share (in shares)	41,862,000	41,711,000
Dilutive effect of employee stock plans (in shares)	0	0
Weighted average shares used to compute diluted earnings per share (in shares)	41,862,000	41,711,000
Basic (in dollars per share)	$ (0.36)	$ (6.23)
Diluted (in dollars per share)	$ (0.36)	$ (6.23)
Anti-dilutive shares excluded from calculation of diluted earnings per share (in shares)	309,000	241,000

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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Reference 31: http://www.xbrl.org/2003/role/disclosureRef
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Reference 32: http://www.xbrl.org/2003/role/disclosureRef
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Reference 33: http://www.xbrl.org/2003/role/disclosureRef
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Reference 35: http://www.xbrl.org/2003/role/disclosureRef
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Reference 36: http://www.xbrl.org/2003/role/disclosureRef
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Reference 37: http://www.xbrl.org/2003/role/disclosureRef
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Reference 38: http://www.xbrl.org/2003/role/disclosureRef
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Reference 39: http://www.xbrl.org/2003/role/disclosureRef
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Reference 40: http://www.xbrl.org/2003/role/disclosureRef
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Reference 41: http://www.xbrl.org/2003/role/disclosureRef
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Reference 42: http://www.xbrl.org/2003/role/disclosureRef
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Reference 43: http://www.xbrl.org/2003/role/disclosureRef
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Reference 44: http://www.xbrl.org/2003/role/disclosureRef
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Reference 48: http://www.xbrl.org/2003/role/disclosureRef
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Reference 49: http://fasb.org/us-gaap/role/ref/legacyRef
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+ Details

Property, Plant and Equipment, net (Tables)

3 Months Ended

Apr. 03, 2026

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment, net

Property, plant and equipment, net consisted of the following:


	April 3, 2026		January 2, 2026
Machinery and manufacturing equipment	$	187,305	$	193,865
Building and building improvements	83,424		83,550
Leasehold improvements	43,096		44,279
Internal-use computer software	40,310		40,399
Information systems, office equipment and furniture	34,124		32,412
Transportation equipment	24,722		25,609
Land and land improvements	15,594		15,561
Total property, plant and equipment	428,575		435,675
Less: accumulated depreciation and amortization	(208,276)		(201,040)
Total property, plant and equipment, net	$	220,299	$	234,635

Long-lived Assets by Geographic Location

The Company’s long-lived assets by geographic location are as follows:


	April 3, 2026		January 2, 2026
United States	$	183,828	$	196,439
International	36,471		38,196
Total long-lived assets	$	220,299	$	234,635

Subsequent Events	3 Months Ended
Subsequent Events	Apr. 03, 2026
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Sixth Amendment to Credit Agreement On May 6, 2026, the Company entered into the Sixth Amendment to the Credit Agreement and Third Amendment to Guaranty and Security Agreement (the “Sixth Amendment”) among the Company, certain subsidiaries of the Company, Wells Fargo Bank, National Association, as administrative agent, swingline lender and L/C issuer (the “Agent”), and certain lenders named therein. The Sixth Amendment amends the Amended Credit Agreement (as amended by the Sixth Amendment, the “Sixth Amended Credit Agreement”); and the Guaranty and Security Agreement, dated as of April 5, 2022, as amended prior to the Sixth Amendment, which secures the obligations under the Amended Credit Agreement in favor of the Agent for the benefit of the lenders and other secured parties. The Sixth Amendment, among other things, amends the margins for interest under Amended Credit Agreement, pursuant to which the term loan and advances under the revolving credit facility can be either SOFR loans or base rate loans. Pursuant to the Sixth Amendment, SOFR loans bear interest on the outstanding principal amount thereof for each interest period at a rate per annum equal to the term SOFR for such calculation period plus a margin ranging from 1.00% to 2.75%, based on the levels of Consolidated Net Leverage Ratio. Base rate loans bear interest on the outstanding principal amount thereof at a rate per annum equal to the highest of (i) Federal Funds Rate plus 0.50%, (ii) the rate of interest in effect for such day as publicly announced from time to time by the Agent as its “prime rate,” and (iii) term SOFR rate for a one-month tenor plus 1.00%, subject to the interest rate floors set forth in the Sixth Amended Credit Agreement, plus a margin ranging from 0.00% to 1.75%, based on the levels of Consolidated Net Leverage Ratio. The Sixth Amendment also amends the definition of Consolidated Net Leverage Ratio and modifies the provisions for the mandatory prepayment of the loans with the net proceeds of asset sales. In addition, the Sixth Amendment tightens certain negative covenants on the Company, including restrictions on indebtedness, investments, and restricted payments during the period beginning on the effective date of the Sixth Amendment and ending on the date a compliance certificate is delivered by the Company for the fiscal quarter ending June 30, 2028, provided that no default or event of default has occurred and is continuing on such date of delivery (the “Covenant Relief Period”). Under the Sixth Amendment, the Company is required to maintain (i) a Consolidated Net Leverage Ratio not to exceed (a) 5.00 as of the end of each fiscal quarter ending July 3, 2026 through January 1, 2027, (b) 4.75 as of the end of each fiscal quarter ending April 2, 2027 through July 2, 2027, (c) 4.50 as of the end of each fiscal quarter ending October 1, 2027 through December 31, 2027, (d) 4.25 as of the end of the fiscal quarter ending March 31, 2028, and (e) 4.00 as of the end of the fiscal quarters ending June 30, 2028 and thereafter, each of which will be, at the Company’s election, increased by 0.50 (but not to exceed 4.50) for the four fiscal quarters after the consummation of certain permitted acquisitions exceeding $75,000 (provided that such increase is not permitted during the Covenant Relief Period), and (ii) a Consolidated Interest Coverage Ratio of not less than (a) 2.50 as of the end of each fiscal quarter ending July 3, 2026 through June 30, 2028, and (b) 2.75 as of the end each fiscal quarter ending September 29, 2028 and thereafter.

Segments - Summary of Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2026	Apr. 04, 2025
Segment Reporting Information [Line Items]
Total net sales	$ 368,657	$ 355,030
Adjusted EBITDA	51,412	54,770
Goodwill impairment	0	262,129
Loss on divestiture	(9,993)	0
Non-cash stock-based compensation	4,121	3,355
Loss before income taxes	(15,632)	(263,371)
Segment Reporting, Reconciling Item, Corporate Nonsegment
Segment Reporting Information [Line Items]
Unallocated corporate expenses	15,712	15,168
Goodwill impairment	0	262,129
Depreciation and amortization(1)	20,616	21,739
Loss on divestiture	(9,994)	0
Non-cash stock-based compensation	4,120	3,355
Litigation and settlement-related expenses	194	716
Other acquisition and integration-related expenses(2)	185	617
Organizational restructuring expenses(3)	2,121	2,311
Strategic transformation costs	2,635	20
Interest and other expense, net	11,467	12,086
Powered Vehicles Group
Segment Reporting Information [Line Items]
Total net sales	143,379	122,098
Powered Vehicles Group \| Operating Segments
Segment Reporting Information [Line Items]
Adjusted EBITDA	22,556	14,383
Unallocated corporate expenses	120,823	107,715
Aftermarket Applications Group
Segment Reporting Information [Line Items]
Total net sales	114,784	111,914
Aftermarket Applications Group \| Operating Segments
Segment Reporting Information [Line Items]
Adjusted EBITDA	11,402	16,993
Unallocated corporate expenses	103,382	94,921
Specialty Sports Group
Segment Reporting Information [Line Items]
Total net sales	110,494	121,018
Specialty Sports Group \| Operating Segments
Segment Reporting Information [Line Items]
Adjusted EBITDA	17,454	23,394
Unallocated corporate expenses	$ 93,040	$ 97,624

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Apr. 03, 2026
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Indemnification Agreements - In the ordinary course of business, the Company may provide indemnifications of varying scope and terms to customers, vendors, lessors, business partners, and other parties with respect to certain matters, including, but not limited to, losses arising out of breach of such agreements, services to be provided by the Company or intellectual property infringement claims made by third parties. In addition, the Company entered into indemnification agreements with directors and certain officers and employees that will require the Company, among other things, to indemnify them against certain liabilities that may arise because of their status or service as directors, officers or employees. While the outcome of these matters cannot be predicted with certainty, the Company does not believe that the outcome of any claims under indemnification arrangements will have a material effect on the Company’s results of operations, financial position or liquidity. Legal Proceedings - On February 20, 2024, a complaint alleging violations of federal securities laws and seeking certification as a class action was filed against the Company and certain of its current and former officers in the United States District Court for the Northern District of Georgia in Atlanta. On August 16, 2024, the plaintiff filed an amended complaint that purported to seek damages on behalf of a putative class of persons who purchased the Company’s common stock between May 6, 2021 and November 2, 2023. The amended complaint asserted claims under Sections 10(b) and 20 of the Securities Exchange Act and alleged that the Company and certain current and former officers made material misstatements and omissions to investors regarding demand for the Company’s products and its inventory levels. The amended complaint generally sought money damages, interest, attorneys’ fees, and other costs. On October 15, 2024, the defendants filed a motion to dismiss the amended complaint, which plaintiff opposed. On March 13, 2025, the court dismissed the amended complaint but granted plaintiff leave to file a second amended complaint. On April 14, 2025, plaintiff filed a second amended complaint asserting essentially the same claims and relief. On February 10, 2026, the court issued its opinion and order dismissing with prejudice the second amended complaint for failing to state a claim. Judgment was entered on February 12, 2026, and plaintiff did not file an appeal, concluding the case. On October 9, 2024, and October 29, 2024, two stockholder derivative complaints were filed in the United States District Court for the Northern District of Georgia against certain of the Company’s officers and its directors, with the Company named as a nominal defendant. The cases are assigned to the same judge presiding over the securities fraud class action. The complaints are premised on substantially the same factual allegations as the securities fraud class action, but in these complaints, the plaintiff claims that the Company’s officers and directors breached their fiduciary duties or otherwise engaged in wrongdoing by allowing the underlying securities fraud to occur. Following the dismissal of the securities fraud litigation in February 2026, plaintiff agreed to voluntarily dismiss these cases without prejudice. On March 30, 2026, the parties filed a joint motion to voluntarily dismiss without prejudice, and on May 1, 2026, the court granted the motion. Bailment Pool Arrangements - The Company has relationships with several OEM partners, including General Motors (“GM”), Ford Motor Company (“Ford”), and Stellantis to obtain truck chassis. For Stellantis chassis, the Company pays a cash deposit upon transfer of the chassis to the Company’s premises and records the chassis within prepaids and other current assets on the condensed consolidated balance sheets until the chassis are transferred to the dealer customer’s floor plan, at which time the cash deposit is returned to the Company. For GM and Ford, the Company entered into floor plan financing agreements with the OEM. The Company receives an allocation of chassis and pays interest expense on the allocated value of chassis based on the duration of time they are on the Company’s premises. Bailment, which is the non-ownership transfer of the chassis from GM and Ford to the Company, ends when the vehicle is sold to an authorized dealer, or upon authorized return of the vehicle to the manufacturer. The Company does not pay a cash deposit to obtain GM and Ford chassis and accordingly it does not recognize an asset or a liability related to these chassis. Interest payments made to manufacturer-affiliated finance companies are classified as operating activities in the condensed consolidated statements of cash flows. At April 3, 2026 and January 2, 2026, the Company utilized $15,399 and $9,566, out of a maximum of $38,300 and $38,300 of Ford allocation of chassis, respectively, and $12,298 and $11,152, out of a maximum of $49,500 and $49,500 of GM allocation of chassis, respectively. The Company incurred interest expense related to bailment of $482 and $677 during the three months ended April 3, 2026 and January 2, 2026, respectively.

Debt - Future Payments for Long-term Debt (Details) - USD ($) $ in Thousands	Apr. 03, 2026	Jan. 02, 2026
Debt Disclosure [Abstract]
2026	$ 20,156
2027	26,875
2028	26,875
2029	26,875
2030	418,281
Total	519,062
Debt issuance cost	(6,869)
Long-term debt, net of issuance cost	512,193
Current portion of long-term debt	(26,875)	$ (26,875)
Long-term debt less current portion	$ 485,318	$ 496,663

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Apr. 03, 2026	Jan. 02, 2026
Current assets:
Cash and cash equivalents	$ 53,911	$ 58,008
Accounts receivable (net of allowances of $2,968 and $2,881, respectively)	209,051	190,670
Inventory	375,116	388,635
Prepaids and other current assets	126,271	108,424
Total current assets	764,349	745,737
Property, plant and equipment, net	220,299	234,635
Lease right-of-use assets	87,046	99,002
Deferred tax assets	86,668	90,397
Goodwill	83,575	83,575
Other assets	32,992	18,985
Total assets	1,661,797	1,671,749
Current liabilities:
Accounts payable	143,370	141,378
Accrued expenses	85,624	92,095
Current portion of long-term debt	26,875	26,875
Total current liabilities	255,869	260,348
Revolver	176,000	150,000
Other liabilities	86,055	94,733
Long-term debt less current portion	485,318	496,663
Total liabilities	1,003,242	1,001,744
Commitments and contingencies (Refer to Note 8 - Commitments and Contingencies)
Non-controlling interest	(201)	(179)
Stockholders’ equity
Preferred stock, $0.001 par value — $10,000 authorized and no shares issued or outstanding as of April 3, 2026 and January 2, 2026	0	0
Common stock, $0.001 par value — 90,000 authorized; $42,826 shares issued and $41,936 outstanding as of April 3, 2026; $42,692 shares issued and $41,802 outstanding as of January 2, 2026	42	42
Additional paid-in capital	355,185	352,239
Treasury stock, at cost; $890 common shares as of April 3, 2026 and January 2, 2026	(13,754)	(13,754)
Accumulated other comprehensive income	1,454	832
Retained earnings	315,829	330,825
Total stockholders’ equity	658,756	670,184
Total liabilities and stockholders’ equity	1,661,797	1,671,749
Trademarks and brands, net
Current assets:
Trademarks and brands, net	235,889	241,820
Customer and distributor relationships, net
Current assets:
Trademarks and brands, net	131,890	137,648
Core technologies, net
Current assets:
Trademarks and brands, net	$ 19,089	$ 19,950

Description of the Business, Basis of Presentation and Summary of Significant Accounting Policies	3 Months Ended
	Apr. 03, 2026
Accounting Policies [Abstract]
Description of the Business, Basis of Presentation and Summary of Significant Accounting Policies	Description of the Business, Basis of Presentation, and Summary of Significant Accounting Policies - Fox Factory Holding Corp. (the “Company”) designs, engineers, manufactures, and markets premium products and systems that deliver championship-level performance for customers worldwide. Our premium brand, performance-defining products and systems are used primarily on bicycles (“bikes”), side-by-side vehicles (“side-by-sides”), on-road vehicles with and without off-road capabilities, off-road vehicles and trucks, all-terrain vehicles (“ATVs”), snowmobiles, motorcycles, and specialty vehicles and applications. In addition, we currently offer premium baseball and softball gear and equipment. Certain of our products are specifically designed and marketed to some of the leading cycling and powered vehicle original equipment manufacturers (“OEMs”), while others are distributed to consumers through a global network of dealers and distributors and through direct-to-customer channels. Throughout this Form 10-Q, unless stated otherwise or as the context otherwise requires, the “Company,” “FOX,” “Fox Factory,” “we,” “us,” “our,” and “ours” refer to Fox Factory Holding Corp. and its operating subsidiaries on a consolidated basis. Basis of Presentation - The accompanying condensed consolidated financial statements are unaudited. These unaudited interim condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles (“GAAP”) in the United States of America (“U.S.” or “United States”) and applicable rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) regarding interim financial reporting. The year-end condensed consolidated balance sheet data was derived from audited financial statements, but does not include all disclosures required by GAAP. Certain information and footnote disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. Accordingly, these interim condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements for the fiscal year ended January 2, 2026 included in the Company’s Annual Report on Form 10-K, as filed with the SEC on February 27, 2026. In management’s opinion, the unaudited interim condensed consolidated financial statements reflect all adjustments, which are of a normal and recurring nature, that are necessary for a fair presentation of financial results for the interim periods presented. Operating results for any quarter are not necessarily indicative of the results for the full fiscal year. Fiscal Year Calendar - The Company operates on a 52-53-week fiscal year calendar. For 2026 and 2025, the Company’s fiscal year will end or has ended on January 1, 2027 and January 2, 2026, respectively. The 12-month periods ended January 1, 2027 and January 2, 2026, will include or have included 52 weeks. The three-month periods ended April 3, 2026 and April 4, 2025 each included 13 weeks. Principles of Consolidation - These condensed consolidated financial statements include the Company and its subsidiaries. All intercompany transactions and balances have been eliminated in consolidation. Summary of Significant Accounting Policies - There have been no changes to our significant accounting policies described in our Annual Report on Form 10-K for the fiscal year ended January 2, 2026, as filed with the SEC on February 27, 2026, that had a material impact on our condensed consolidated financial statements and related notes. Revenue Recognition - Revenues are generated from the sale of performance-defining products and systems to customers worldwide. The Company’s performance-defining products and systems are solutions that improve performance of powered vehicles, bikes, and baseball and softball gear and equipment. Powered vehicles include side-by-sides, on-road vehicles with and without off-road capabilities, purpose-built off-road vehicles and trucks, ATVs, snowmobiles, specialty vehicles and applications, motorcycles, and commercial trucks. Revenue is measured based on the consideration specified in a contract with a customer. The Company recognizes revenue when it satisfies a performance obligation by transferring control of a product to a customer, generally at the time of shipment. Substantially all of the Company’s revenue is recognized at a point in time. Contracts are generally in the form of purchase orders and are governed by standard terms and conditions. For larger OEMs, the Company may also enter into master agreements. Sales tax and other similar taxes are excluded from revenues. Tariff surcharges consisting of amounts billed to customers to recover tariff costs are recorded as revenue when the associated products are recognized as revenue. Revenues generated from upfit packages generally do not include the vehicle chassis, as the Company is not the principal in this arrangement and the automotive dealer purchases the chassis directly from the OEM. The Company is required to place a deposit on Stellantis vehicle chassis; however, that deposit is refunded when the chassis is sold through to our customer. For other chassis, the Company entered into floor plan financing agreements, in which the Company pays interest expense based on the duration of time the chassis stay on the Company's premises. Revenues generated from custom upfit packages from the Outside Van and Upfit UTV subsidiaries generally include the vehicle chassis, of which the Company has the risks and rewards of ownership. We elected as a practical expedient to not capitalize the incremental costs to obtain contracts with customers since the amortization period would have been one year or less. Provisions for discounts, rebates, sales incentives, returns, and other adjustments are generally provided for in the period the related sales are recorded, based on management’s assessment of historical trends and projection of future results. Segments - We have three operating and reportable segments: Powered Vehicles Group (“PVG”), Aftermarket Applications Group (“AAG”), and Specialty Sports Group (“SSG”). The Company considers operating segments to be components of the Company in which separate financial information is available that is evaluated regularly by the Company’s chief operating decision maker (“CODM”) in deciding how to allocate resources and in assessing performance. The CODM for the Company is the Chief Executive Officer. Goodwill, Intangible Assets, and Long-Lived Assets Goodwill Goodwill represents the excess of purchase price over the fair value of the net assets of businesses acquired. On an annual basis, the Company performs a qualitative assessment to determine if it is more likely than not that the fair value of the reporting unit is less than its carrying amount, including goodwill. If the Company determines that it is more likely than not that the fair value of the reporting unit is less than its carrying amount, it will perform a quantitative analysis; otherwise, no further evaluation is necessary. For the quantitative impairment test, the Company compares the fair value of the reporting unit to its carrying value, including goodwill. The Company determines the fair value of the reporting unit based on a weighting of income and market approaches. The income approach employs a discounted cash flow model, projecting revenue and cash flows over a multi-year period. These projections are based on management’s estimates, historical performance trends, and industry outlooks. These cash flows, along with a terminal value, are discounted to their present value using a weighted-average cost of capital (“WACC”) that reflects a market rate appropriate for each reporting unit. The market approach employs multiples for public companies that reasonably compare to the reporting units. If the fair value of the reporting unit exceeds the carrying value of the net assets assigned to that reporting unit, goodwill is not impaired and no further testing is performed. If the carrying value of the net assets assigned to the reporting unit exceeds the fair value of the reporting unit, then the Company will recognize a loss equal to the excess, limited to the total amount of goodwill allocated to that reporting unit. All impairments, if any, are charged directly to earnings. Indefinite-lived intangible assets Certain trademarks and trade names, including FOX and others from certain subsidiaries, are considered to be indefinite life intangibles, and are not amortized but are subject to testing for impairment annually. Finite-lived intangible assets and other long-lived assets We assess the recoverability of identifiable finite-lived intangible assets whenever events or changes in circumstances indicate that an asset or asset group’s carrying amount may be impaired. Impairment of certain finite-lived intangible assets, particularly customer relationships, certain trade names, and core technology, is measured by comparing the carrying amount of the asset group to which the assets are assigned to the sum of the undiscounted estimated future cash flows the asset group is expected to generate. If the asset or asset group is considered to be impaired, the amount of such impairment would be measured by the difference between the carrying amount of the asset and its fair value. The Company reviews property and equipment for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset is impaired or the estimated useful lives are no longer appropriate. If indicators of impairment exist and the undiscounted projected cash flows associated with such assets are less than the carrying amount of the assets, an impairment loss is recorded to write the assets down to their estimated fair values. Fair value is estimated based on discounted future cash flows. Use of Estimates - The preparation of the Company’s condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of income and expenses during the reporting period. These estimates are based on information available as of the date of the financial statements; therefore, actual results could differ from management’s estimates. Reclassifications - We reclassified certain prior period amounts within our condensed consolidated statement of cash flows to conform to our current year presentation. The reclassifications did not have any impact on net income. Certain Significant Risks and Uncertainties - As of April 3, 2026, the Company is subject to those risks common in manufacturing-driven markets, including, but not limited to, competitive forces, dependence on key personnel, customer demand for its products, disruptions in the operations of its or its customers’ facilities, or along its global supply chain, the successful protection of its proprietary technologies, compliance with government regulations, and the possibility of not being able to obtain additional financing when needed. The impact of geopolitical conflicts, including, among others, continuing tensions between Taiwan and China, and the war in Iran continue to create uncertainty in global economic conditions and volatility in energy, raw materials, and supply chains, which may negatively impact the Company’s business and operations. Additionally, the imposition of U.S. tariffs on China, Canada, Mexico, Taiwan and other countries, as well as potential changes to or expansions of such tariffs and related retaliatory trade measures, disrupt supply chains, and impact demand for the Company’s products. Furthermore, domestic and foreign political instability and uncertainty may create economic volatility, regulatory changes, and trade disruptions that pose additional risks to the Company’s business environment. Fair Value Measurements and Financial Instruments - The Financial Accounting Standards Board (“FASB”) issued Accounting Standards Codification (“ASC”) 820, Fair Value Measurements and Disclosures, that requires the valuation of assets and liabilities required or permitted to be either recorded or disclosed at fair value based on hierarchy of available inputs as follows: Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; Level 2: Quoted prices for similar assets and liabilities in active markets, quoted prices for identical assets and liabilities in markets that are not active, or inputs which are observable, either directly or indirectly, for substantially the full term of the asset or liability; and Level 3: Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported by little or no market activity). The carrying amounts of the Company’s financial instruments, including cash, receivables, accounts payable, accrued liabilities, and current portion of long-term debt approximate their fair values due to their short-term nature. The carrying amounts of the Company’s revolver and long-term debt, excluding current portion, approximate their fair values because the interest rates vary with the market. Recent Accounting Pronouncements In November 2024 and January 2025, respectively, the FASB issued ASU 2024-03 and ASU 2025-01, “Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses,” which adds new disclosure requirements, including more detailed information about certain income statement expense captions and a separate disclosure for selling expenses. The guidance is effective for annual reporting periods beginning after December 15, 2026 and interim periods within annual reporting periods beginning after December 15, 2027, with retrospective application and early adoption permitted. The Company is currently evaluating the impact of the accounting standard updates on its consolidated financial statements and related disclosures. In July 2025, the FASB issued ASU 2025-05, “Financial Instrument - Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets.” The ASU provides a practical expedient for estimating current expected credit losses by allowing entities to assume that conditions existing as of the balance sheet date do not change for the remaining life of the assets. The guidance is effective for interim and annual reporting periods beginning after December 15, 2025. The Company elected the practical expedient starting the first quarter of fiscal 2026 and applied the guidance prospectively. The adoption of this guidance did not have a material impact on its consolidated financial statements and related disclosures. In September 2025, the FASB issued ASU 2025-06, “Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software.” The amendments in ASU 2025-06 clarify and modernize the capitalization of costs related to internal-use software. The ASU removes all references to project stages throughout Subtopic 350-40 and clarifies the threshold entities apply to begin capitalizing costs. The guidance is effective for interim and annual reporting periods beginning after December 15, 2027. The Company is currently evaluating the impact of the accounting standard updates on its consolidated financial statements and related disclosures. In November 2025, the FASB issued ASU 2025-09, “Derivatives and Hedging (Topic 815): Hedge Accounting Improvements.” The amendments introduce targeted improvements across several areas, including similar‑risk assessments for groups of forecasted transactions, hedging interest payments on choose‑your‑rate debt instruments, and cash flow hedges of nonfinancial forecasted transactions. The guidance is intended to better align hedge accounting with entities’ risk‑management activities and reduce unintuitive hedge dedesignation events. The guidance is effective for annual reporting periods, including interim periods within those periods, beginning after December 15, 2026, with early adoption permitted. The Company is currently evaluating the impact of the ASU and does not expect it to have a material effect on its consolidated financial statements or related disclosures. In December 2025, the FASB issued ASU 2025-10, “Government Grants (Topic 832): Accounting for Government Grants Received by Business Entities.” The ASU establishes authoritative guidance on the recognition, measurement, and presentation of government grants received by business entities, leveraging principles from IAS 20 and introducing targeted improvements to U.S. GAAP. The ASU also modifies certain existing disclosure requirements in ASC 832 to enhance transparency of government assistance. The guidance is effective for annual periods beginning after December 15, 2028 for public business entities, and one year later for all other entities, with early adoption permitted. The Company is currently evaluating the impact of the ASU on its consolidated financial statements and related disclosures. In December 2025, the FASB issued ASU 2025‑11, “Interim Reporting (Topic 270): Narrow‑Scope Improvements.” The amendments clarify that Topic 270 applies to all entities providing interim financial statements under GAAP, consolidate required interim disclosures, introduce a disclosure principle for material post–year‑end events, and refine guidance on the form and content of interim financial statements. The amendments do not change the nature or scope of existing interim reporting requirements. The guidance is effective for interim reporting periods within fiscal years beginning after December 15, 2027. The Company is currently evaluating the impact of these updates on its consolidated financial statements and related disclosures. In December 2025, the FASB issued ASU 2025‑12, “Codification Improvements.” The ASU introduces various technical corrections, clarifications, and minor improvements across a wide range of ASC Topics and are not expected to significantly affect current accounting practice or impose significant costs on most entities. General transition guidance is provided in ASC 105‑10‑65‑10, with separate transition provisions for the earnings‑per‑share amendments in ASC 260. The guidance is effective for annual periods beginning after December 15, 2026, including interim periods within those fiscal years. The Company is currently evaluating the impact of these updates and does not expect them to have a material impact on its consolidated financial statements and related disclosures.

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2026	Apr. 04, 2025
OPERATING ACTIVITIES:
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	$ (15,018)	$ (259,734)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Goodwill impairment	0	262,129
Depreciation and amortization	20,868	22,621
Provision for inventory reserve	512	1,727
Non-cash stock-based compensation	4,121	3,355
Amortization of acquired inventory step-up	0	164
Amortization of loan fees	602	1,349
Amortization of deferred gains on prior swap settlements	0	(783)
Proceeds from interest rate swap settlements	469	1,127
Loss on divestiture	9,993	0
Deferred taxes	(1,811)	(4,736)
Adjustment to Reconcile Net Income to Cash Provided by (Used in) Operating Activity, Increase (Decrease) in Operating Capital [Abstract]
Accounts receivable	(23,099)	(11,279)
Inventory	(7,949)	(4,923)
Income taxes	(195)	(1,919)
Prepaids and other assets	(103)	25,718
Accounts payable	2,547	(16,903)
Accrued expenses and other liabilities	(6,998)	(17,233)
Net cash (used in) provided by operating activities	(16,061)	680
INVESTING ACTIVITIES:
Purchases of property and equipment	(5,390)	(7,180)
Divestiture of businesses, net of cash divested	4,964	0
Net cash used in investing activities	(426)	(7,180)
FINANCING ACTIVITIES:
Proceeds from revolver	67,000	37,000
Payments on revolver	(41,000)	(27,000)
Repayment of term debt	(11,719)	(6,071)
Repurchases from stock compensation program, net	(1,175)	(580)
Net cash provided by financing activities	13,106	3,349
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	(716)	78
CHANGE IN CASH AND CASH EQUIVALENTS	(4,097)	(3,073)
CASH AND CASH EQUIVALENTS—Beginning of period	58,008	71,674
CASH AND CASH EQUIVALENTS—End of period	53,911	68,601
Interest and Income Taxes Paid [Abstract]
Income tax payment	1,526	3,052
Interest	11,408	12,405
Amounts included in the measurement of lease liabilities	4,742	5,239
Cash Flow, Noncash Operating Activities Disclosure [Abstract]
Right-of-use assets obtained in exchange for lease obligations	3,252	540
Note receivable from divestiture	22,375	0
Capital expenditures included in accounts payable	$ 698	$ 437

Fair Value Measurements and Financial Instruments

3 Months Ended

Apr. 03, 2026

Fair Value Disclosures [Abstract]

Fair Value Measurements and Financial Instruments

The following table presents the Company’s hierarchy for its assets and liabilities measured at fair value on a recurring basis as of the following periods:


	April 3, 2026								January 2, 2026
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets:

Deferred compensation plan investments	$	4,505	$	—	$	—	$	4,505	$	4,693	$	—	$	—	$	4,693
Interest rate swaps	—		2,453		—		2,453		—		1,068		—		1,068
Total assets measured at fair value	$	4,505	$	24,828	$	—	$	29,333	$	4,693	$	1,068	$	—	$	5,761
Liabilities:
Term loan	$	—	$	519,062	$	—	$	519,062	$	—	$	530,781	$	—	$	530,781
Revolver	—		176,000		—		176,000		—		150,000		—		150,000
Deferred compensation plan liabilities	4,486		—		—		4,486		4,675		—		—		4,675
Interest rate swaps	—		—		—		—		—		762		—		762
Total liabilities measured at fair value	$	4,486	$	695,062	$	—	$	699,548	$	4,675	$	681,543	$	—	$	686,218

There were no transfers of assets or liabilities between Level 1, Level 2, and Level 3 categories of the fair value hierarchy during the three months ended April 3, 2026.

As of April 3, 2026, the carrying amount of the principal under the Company’s Amended Credit Agreement - Term Loan and Revolver approximated fair value because they had variable interest rates that reflected market changes in interest rates and changes in the Company’s net leverage ratio.

The Company mitigates the cash flow risk associated with changes in interest rates on its variable rate debt through interest rate swap agreements. Refer to Note 9 - Derivatives and Hedging for additional details of the agreements. In accordance with ASC 815, interest rate swap contracts are recognized as assets or liabilities on the condensed consolidated balance sheets and are measured at fair values. The fair values were estimated based on expected cash flows over the life of the swaps. These expected cash flows were determined using a pricing model that incorporated reasonable assumptions and available market data.

The Company invests in marketable securities to mitigate the risk associated with the investment return on the non-qualified deferred compensation plan provided to executives and non-employee directors. The investments are recorded as cash and cash equivalents at their quoted market price. The corresponding deferred compensation plan liabilities are recorded at fair value based on the quoted market price of the underlying investments and are included in accrued expenses on the condensed consolidated balance sheets.

The Company holds a promissory note receivable in connection with the sale of its Phoenix, Arizona AAG operations, including Shock Therapy, Upfit UTV, and Geiser businesses. The note was issued as part of the transaction consideration and is accounted for at amortized cost in accordance with ASC 310-10, with interest income recognized using the effective interest method. It was initially measured at fair value on a nonrecurring basis. The fair value of the note was determined using the income approach under ASC 820, with the stated interest rate compared to the Federal Reserve prime rate of 6.75% at the date of closing. As the stated rate approximates a market rate of return, the fair value at inception approximated face value. The note is classified as a Level 2 asset with a fair value of $22,375 at inception. The Company evaluated the note for expected credit losses under ASC 326-20 and determined that no allowance was required as of April 3, 2026. Refer to Note 15. Divestiture for additional information regarding the divestiture.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(1)
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-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

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-Paragraph 107
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-URI https://asc.fasb.org/1943274/2147482078/820-10-55-107

Reference 3: http://www.xbrl.org/2003/role/exampleRef
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-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 2
-Subparagraph (c)(3)
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-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (a)
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (e)
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

+ Details

Stockholders' Equity - Unvested PSU Activity (Details) shares in Thousands	3 Months Ended
	Apr. 03, 2026 $ / shares shares
Number of shares outstanding
Unvested at beginning of period (in shares) \| shares	746
Weighted-average grant date fair value
Unvested at beginning of period (in usd per share) \| $ / shares	$ 33.95
PSU
Number of shares outstanding
Unvested at beginning of period (in shares) \| shares	464
Granted (in shares) \| shares	585
Canceled (in shares) \| shares	(4)
Vested (in shares) \| shares	0
Unvested at end of period (in shares) \| shares	1,045
Weighted-average grant date fair value
Unvested at beginning of period (in usd per share) \| $ / shares	$ 35.03
Granted (in usd per share) \| $ / shares	18.05
Cancelled (in usd per share) \| $ / shares	38.49
Vested (in usd per share) \| $ / shares	0
Unvested at end of period (in usd per share) \| $ / shares	$ 25.52

Prepaids and Other Assets

3 Months Ended

Apr. 03, 2026

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Prepaids and Other Current Assets

Prepaids and other current assets consisted of the following:


	April 3, 2026		January 2, 2026
Prepaid chassis deposits	$	70,645	$	67,203
Advanced payments and prepaid contracts	22,785		26,139
Other current assets	32,841		15,082
Total prepaid and other current assets	$	126,271	$	108,424

Income Taxes

3 Months Ended

Apr. 03, 2026

Income Tax Disclosure [Abstract]

Income Taxes


	For the three months ended
	April 3, 2026			April 4, 2025
Benefit from income taxes	$	(614)		$	(3,637)
Effective tax rates	3.9		%	1.4		%

For the three months ended April 3, 2026, the difference between the Company’s effective tax rate of 3.9% and the 21% federal statutory rate was primarily due to lower pre‑tax earnings for the quarter and the tax effects recognized in connection with the sale of our Phoenix, Arizona AAG operations, including Shock Therapy, Upfit UTV, and Geiser businesses.

For the three months ended April 4, 2025, the difference between the Company’s effective tax rate of 1.4% and the 21% federal statutory rate was due to the impairment impact of the non-deductible goodwill recognized during the same period.

We do not expect the results from any ongoing income tax audits to have a material impact on our consolidated financial condition, results of operations, or cash flows.

- Definition

The entire disclosure for income tax.

+ References

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Reference 5: http://www.xbrl.org/2003/role/exampleRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147477891/740-270-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147482603/740-30-50-2

+ Details

Description of the Business, Basis of Presentation and Summary of Significant Accounting Policies - Narrative (Details)	3 Months Ended
	Apr. 03, 2026 segment
Accounting Policies [Abstract]
Number of operating segments	3
Number of reportable segments	3

Divestiture (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended
	Feb. 26, 2026	Apr. 03, 2026	Apr. 04, 2025
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Divestiture of businesses, net of cash divested		$ 4,964	$ 0
Loss on divestiture		$ 9,993	$ 0
Phoenix, AZ AAG Operations \| Disposal Group, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Divestiture of businesses, net of cash divested	$ 5,000
Loss on divestiture	$ 9,993
Exercise price of warrant (in dollars per share)	$ 0.01
Right to purchase warrant, percentage	10.00%
Value of warrant	$ 0
Sublease income	$ 630
Remaining lease term	4 years
Phoenix, AZ AAG Operations \| Disposal Group, Not Discontinued Operations \| Level 3
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Value of warrant	$ 0
Phoenix, AZ AAG Operations \| Disposal Group, Not Discontinued Operations \| Notes Receivable
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Promissory note receivable	$ 22,375
Interest rate	6.75%

Derivatives and Hedging (Tables)

3 Months Ended

Apr. 03, 2026

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Interest Rate Derivatives

As of April 3, 2026 and January 2, 2026, the Company had the following interest rate swap contracts:


			April 3, 2026		January 2, 2026
Effective Date	Termination Date	Notional Amount	Unrealized Gain (Loss) in AOCI		Unrealized Gain (Loss) in AOCI
April 5, 2022	April 5, 2027	$100,000	$	1,177	$	1,068
September 20, 2024	December 25, 2026	$200,000	79		(407)
September 20, 2024	September 21, 2029	$100,000	695		(86)
December 26, 2025	December 22, 2028	$100,000	502		(269)
Total			$	2,453	$	306

Fair Value Measurements and Financial Instruments - Additional Information (Details) - Level 2 - Valuation, Income Approach $ in Thousands	3 Months Ended
	Apr. 03, 2026 USD ($)
Business Combination [Line Items]
Basis spread on variable rate (as a percent)	6.75%
Promissory note receivable	$ 22,375

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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+ Details

Segments - Narrative (Details)	3 Months Ended
Segments - Narrative (Details)	Apr. 03, 2026 segment plant distribution_facility
Segment Reporting Information [Line Items]
Number of operating segments \| segment	3
Powered Vehicles Group
Segment Reporting Information [Line Items]
Number of plants	2
Aftermarket Applications Group
Segment Reporting Information [Line Items]
Number of plants	10
Specialty Sports Group
Segment Reporting Information [Line Items]
Number of plants	8
Number of distribution facilities \| distribution_facility	11

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Apr. 03, 2026	Jan. 02, 2026
Statement of Financial Position [Abstract]
Accounts receivable, allowance for doubtful accounts	$ 2,968	$ 2,881
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	90,000,000	90,000,000
Common stock, shares issued (in shares)	42,826,000	42,692,000
Common stock, shares outstanding (in shares)	41,936,000	41,802,000
Treasury stock, common (in shares)	890,000	890,000

Revenues (Tables)

3 Months Ended

Apr. 03, 2026

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenues

The following table summarizes total net sales by segment:


	For the three months ended
	April 3, 2026		April 4, 2025
Powered Vehicles Group	$	143,379	$	122,098
Aftermarket Applications Group	114,784		111,914
Specialty Sports Group	110,494		121,018
Total net sales	$	368,657	$	355,030

The following table summarizes total net sales by sales channel:


	For the three months ended
	April 3, 2026		April 4, 2025
OEM	$	169,287	$	156,321
Aftermarket/Non-OEM(1)	199,370		198,709
Total net sales	$	368,657	$	355,030
(1) Aftermarket/non-OEM sales include sales to dealers and dealerships, distributors, sales through our websites, retail sales, and various others, including Marucci’s sales within each of these respective channels as applicable.

The following table summarizes total net sales generated by geographic location of the customer:


	For the three months ended
	April 3, 2026		April 4, 2025
North America	$	285,460	$	272,301
Europe	45,572		48,277
Asia	31,175		27,809
Rest of the world	6,450		6,643
Total net sales	$	368,657	$	355,030

Accrued Expenses - Accrued Expense Components (Details) - USD ($) $ in Thousands	Apr. 03, 2026	Jan. 02, 2026	Apr. 04, 2025	Jan. 03, 2025
Payables and Accruals [Abstract]
Payroll and related expenses	$ 25,461	$ 32,743
Current portion of lease liabilities	13,145	16,221
Warranty	13,881	15,173	$ 19,113	$ 21,593
Income tax payable	11,587	7,354
Other accrued expenses	21,550	20,604
Accrued expenses	$ 85,624	$ 92,095

Property, Plant and Equipment, net - Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Apr. 03, 2026	Jan. 02, 2026
Property, Plant and Equipment [Line Items]
Property, plant and equipment gross	$ 428,575	$ 435,675
Less: accumulated depreciation and amortization	(208,276)	(201,040)
Total property, plant and equipment, net	220,299	234,635
Building and building improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment gross	83,424	83,550
Information systems, office equipment and furniture
Property, Plant and Equipment [Line Items]
Property, plant and equipment gross	34,124	32,412
Internal-use computer software
Property, Plant and Equipment [Line Items]
Property, plant and equipment gross	40,310	40,399
Land and land improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment gross	15,594	15,561
Total property, plant and equipment, net	220,299	234,635
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment gross	43,096	44,279
Machinery and manufacturing equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment gross	187,305	193,865
Transportation equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment gross	$ 24,722	$ 25,609

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Apr. 03, 2026
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

Stockholders' Equity - Equity Incentive Plans (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2026	Apr. 04, 2025	Jan. 02, 2026
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Allocated share-based compensation expense	$ 4,121	$ 3,355
General Motors
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Bailment pool arrangement, maximum allocation	49,500		$ 49,500
Cost of sales
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Allocated share-based compensation expense	283	298
Sales and marketing
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Allocated share-based compensation expense	382	389
Research and development
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Allocated share-based compensation expense	433	332
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Allocated share-based compensation expense	$ 3,023	$ 2,336

Net Loss Per Share - Additional Information (Details) - shares	3 Months Ended
	Apr. 03, 2026	Apr. 04, 2025
Earnings Per Share [Abstract]
Anti-dilutive shares excluded from calculation of diluted earnings per share (in shares)	309,000	241,000

Segments

3 Months Ended

Apr. 03, 2026

Segment Reporting [Abstract]

Segments

Segment Information

We manage our activities based on three operating segments: Powered Vehicles Group, Aftermarket Applications Group, and Specialty Sports Group. All of our segments design, engineer, and manufacture performance-defining products and systems for customers worldwide.

The following is a description of our operating segments.

Powered Vehicles Group: This segment operates 2 plants in the United States and 1 plant in Italy. Our premium products sold under the FOX brand are for off-road vehicles and trucks, side-by-sides, on-road vehicles with and without off-road capabilities, ATVs, snowmobiles, specialty vehicles and applications, and commercial trucks, and the Marzocchi brand for motorcycles. These products are sold through both OEM and aftermarket channels.

Aftermarket Applications Group: This segment operates 10 plants across the United States. Our range of aftermarket applications products includes premium products under the BDS Suspension, Zone Offroad, JKS Manufacturing, RT Pro UTV, 4x4 Posi-Lok, Ridetech, Tuscany, Outside Van, SCA, RTR, Fun-Haver, and Custom Wheel House brands designed for off-road vehicles and trucks, side-by-sides, on-road vehicles with and without off-road capabilities, specialty vehicles and applications, and commercial trucks.

Specialty Sports Group: This segment operates 8 plants and 11 distribution facilities (9 in the United States, 3 in Taiwan, and 1 facility each in Australia, Canada, Germany, Japan, Sweden, Switzerland, and United Kingdom). Our bike product offerings are used on a wide range of performance mountain bikes, e-bikes, and gravel bikes under the FOX, Race Face, Easton Cycling, and Marzocchi brands. These products are sold through both OEM and aftermarket channels. Our products for diamond sports include premium baseball and softball equipment under the Marucci, Victus, Lizard Skins, and Baum Bat brands and are sold through dealers and distributors and through direct-to-customer channels.

Net sales and expenses are measured in accordance with the policies and procedures described in Note 1 – Description of the Business, Basis of Presentation and Summary of Significant Accounting Policies included in our Annual Report on Form 10-K for the fiscal year ended January 2, 2026, as filed with the SEC on February 27, 2026.

We measure the profitability and financial performance of our operating segments based on adjusted EBITDA. Adjusted EBITDA provides a measure of our underlying segment results that is in line with our approach to risk management. We define adjusted EBITDA as net income adjusted for (a) interest expense, (b) income tax or tax benefits, (c) amortization including amortization of purchased intangibles, (d) depreciation, (e) stock-based compensation, (f) litigation and settlement related expenses, (g) organizational restructuring expenses, (h) acquisition and integration-related expenses, (i) strategic transformation costs, (j) goodwill impairment, and (k) loss on divestiture.

Segment asset information is not presented because it is not evaluated by the CODM at the segment level.

The tables that follow show selected segment financial information including information for prior comparative periods. Unallocated corporate expenses are corporate overhead expenses that are not directly attributable to one of our business segments and include unallocated occupancy costs for our corporate headquarters, acquisition costs, other benefit and compensation programs, including performance-based compensation, and administrative expenses such as accounting, finance, legal, human resources, and information technology expenses.


	For the three months ended
	April 3, 2026		April 4, 2025
Net sales
Powered Vehicles Group	$	143,379	$	122,098
Aftermarket Applications Group	114,784		111,914
Specialty Sports Group	110,494		121,018
Net sales	$	368,657	$	355,030

Adjusted EBITDA
Powered Vehicles Group	22,556		14,383
Aftermarket Applications Group	11,402		16,993
Specialty Sports Group	17,454		23,394
	$	51,412	$	54,770
Reconciliation of segment adjusted EBITDA
Unallocated corporate expenses	(15,712)		(15,168)
Goodwill impairment	—		(262,129)

Depreciation and amortization(1)	(20,616)		(21,739)
Loss on divestiture	(9,994)		—
Non-cash stock-based compensation	(4,120)		(3,355)
Litigation and settlement-related expenses	(194)		(716)
Other acquisition and integration-related expenses(2)	(185)		(617)
Organizational restructuring expenses(3)	(2,121)		(2,311)
Strategic transformation costs	(2,635)		(20)
Interest and other expense, net	(11,467)		(12,086)
Consolidated loss before income taxes	$	(15,632)	$	(263,371)

(1) Depreciation excludes amortization for purchase accounting property, plant and equipment fair value adjustment and accelerated depreciation related to organizational restructuring initiatives.

(2) Represents various acquisition-related costs and expenses incurred to integrate acquired entities into the Company’s operations and the impact of the finished goods inventory valuation adjustment recorded in connection with the purchase of acquired assets.

(3) Represents expenses associated with various restructuring initiatives intended to improve operational efficiency, realign resources, and support the Company’s long-term strategic objectives, including employee severance, relocation expenses, and consulting and advisory fees.

The CODM relies on adjusted EBITDA for assessing performance and allocating resources across segments. On a regular basis, the CODM reviews budget-to-actual variances for adjusted EBITDA to guide capital and personnel distribution. During the annual budgeting and forecasting process, segment adjusted EBITDA is used by the CODM to measure segment performance and to allocate resources such as employees, financial assets, or capital. Additionally, adjusted EBITDA is reviewed by the CODM in evaluating the efficiency of cost management strategies within each segment, ensuring that financial and operational resources are optimized and aligned with the Company's overall strategic objectives. No expense details by segment are regularly provided to the CODM, and accordingly, no significant segment expenses have been disclosed. The CODM reviews consolidated expense information.

The following table presents the Company’s other segment items that consist of costs of sales and operating expenses excluding goodwill impairment, intangible and long-lived asset impairment, depreciation and amortization, non-cash stock-based compensation, litigation and settlement-related expenses, other acquisition and integration-related expenses, organizational restructuring-related expenses, and strategic transformation costs, which represent the computable difference between segment net sales and segment adjusted EBITDA.


	For the three months ended
	April 3, 2026		April 4, 2025
Powered Vehicles Group	$	120,823	$	107,715
Aftermarket Applications Group	$	103,382	$	94,921
Specialty Sports Group	$	93,040	$	97,624

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
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+ Details

Revenues

3 Months Ended

Apr. 03, 2026

Revenue from Contract with Customer [Abstract]

Revenues

The following table summarizes total net sales by segment:


	For the three months ended
	April 3, 2026		April 4, 2025
Powered Vehicles Group	$	143,379	$	122,098
Aftermarket Applications Group	114,784		111,914
Specialty Sports Group	110,494		121,018
Total net sales	$	368,657	$	355,030

The following table summarizes total net sales by sales channel:


	For the three months ended
	April 3, 2026		April 4, 2025
OEM	$	169,287	$	156,321
Aftermarket/Non-OEM(1)	199,370		198,709
Total net sales	$	368,657	$	355,030
(1) Aftermarket/non-OEM sales include sales to dealers and dealerships, distributors, sales through our websites, retail sales, and various others, including Marucci’s sales within each of these respective channels as applicable.

The following table summarizes total net sales generated by geographic location of the customer:


	For the three months ended
	April 3, 2026		April 4, 2025
North America	$	285,460	$	272,301
Europe	45,572		48,277
Asia	31,175		27,809
Rest of the world	6,450		6,643
Total net sales	$	368,657	$	355,030

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Accrued Expenses

3 Months Ended

Apr. 03, 2026

Payables and Accruals [Abstract]

Accrued Expenses

Accrued expenses consisted of the following:


	April 3, 2026		January 2, 2026
Payroll and related expenses	$	25,461	$	32,743
Current portion of lease liabilities	13,145		16,221
Warranty	13,881		15,173

Income tax payable	11,587		7,354
Other accrued expenses	21,550		20,604
Total accrued expenses	$	85,624	$	92,095

The Company generally provides a limited warranty for products for a one-, two-, or three-year period beginning on: (i) in the case of OEM sales, the date the bike or powered vehicle is purchased from an authorized OEM where the product is incorporated as original equipment on the purchased bike or powered vehicle; (ii) in the case of aftermarket/non-OEM sales, the date the product is originally purchased from an authorized dealer; or (iii) in the case of upfitting sales, the date of the retail sale to an end customer. Activity related to warranties is as follows:


	For the three months ended
	April 3, 2026		April 4, 2025
Beginning warranty liability	$	15,173	$	21,593
Charge to cost of sales	4,046		1,468

Costs incurred	(5,338)		(3,948)
Ending warranty liability	$	13,881	$	19,113

*All changes to warranty liability were within normal course of business.

Net Loss Per Share (Tables)

3 Months Ended

Apr. 03, 2026

Earnings Per Share [Abstract]

Calculation of Basic and Diluted Earnings Per Share

The following table presents the calculation of basic and diluted earnings per share:


	For the three months ended
	April 3, 2026		April 4, 2025
Net loss attributable to FOX stockholders	$	(14,996)	$	(259,694)

Weighted average shares used to compute basic earnings per share	41,862		41,711
Dilutive effect of employee stock plans	—		—
Weighted average shares used to compute diluted earnings per share	41,862		41,711
Net loss per share:
Basic	$	(0.36)	$	(6.23)
Diluted	$	(0.36)	$	(6.23)

Subsequent Events (Details) $ in Thousands	May 06, 2026 USD ($)	Apr. 05, 2022
Fed Funds Effective Rate Overnight Index Swap Rate
Subsequent Event [Line Items]
Basis spread on variable rate (as a percent)		0.50%
Subsequent Event \| Line of Credit \| Sixth Amendment To Credit Agreement
Subsequent Event [Line Items]
Consolidated net leverage ratio	5,000.00
Consolidated net leverage ratio increase	500
Subsequent Event \| Line of Credit \| Sixth Amendment To Credit Agreement \| Debt Instrument, Covenant, Period One
Subsequent Event [Line Items]
Consolidated net leverage ratio	4,750
Consolidated interest coverage ratio	2,500
Subsequent Event \| Line of Credit \| Sixth Amendment To Credit Agreement \| Debt Instrument, Covenant, Period Two
Subsequent Event [Line Items]
Consolidated net leverage ratio	4,500
Consolidated interest coverage ratio	2,750
Subsequent Event \| Line of Credit \| Sixth Amendment To Credit Agreement \| Debt Instrument, Covenant, Period Three
Subsequent Event [Line Items]
Consolidated net leverage ratio	4,250
Subsequent Event \| Line of Credit \| Sixth Amendment To Credit Agreement \| Debt Instrument, Covenant, Period Four
Subsequent Event [Line Items]
Consolidated net leverage ratio	4,000.00
Subsequent Event \| Line of Credit \| Sixth Amendment To Credit Agreement \| Maximum
Subsequent Event [Line Items]
Consolidated net leverage ratio increase	4,500
Acquisitions threshold	$ 75,000
Subsequent Event \| Line of Credit \| Sixth Amendment To Credit Agreement \| Secured Overnight Financing Rate (SOFR) \| Minimum
Subsequent Event [Line Items]
Basis spread on variable rate (as a percent)	1.00%
Subsequent Event \| Line of Credit \| Sixth Amendment To Credit Agreement \| Secured Overnight Financing Rate (SOFR) \| Maximum
Subsequent Event [Line Items]
Basis spread on variable rate (as a percent)	2.75%
Subsequent Event \| Line of Credit \| Sixth Amendment To Credit Agreement \| Fed Funds Effective Rate Overnight Index Swap Rate
Subsequent Event [Line Items]
Basis spread on variable rate (as a percent)	0.50%
Subsequent Event \| Line of Credit \| Sixth Amendment To Credit Agreement \| Prime Rate
Subsequent Event [Line Items]
Basis spread on variable rate (as a percent)	1.00%
Subsequent Event \| Line of Credit \| Sixth Amendment To Credit Agreement \| Interest Rate Floor \| Minimum
Subsequent Event [Line Items]
Basis spread on variable rate (as a percent)	0.00%
Subsequent Event \| Line of Credit \| Sixth Amendment To Credit Agreement \| Interest Rate Floor \| Maximum
Subsequent Event [Line Items]
Basis spread on variable rate (as a percent)	1.75%

Fair Value Measurements and Financial Instruments (Tables)

3 Months Ended

Apr. 03, 2026

Fair Value Disclosures [Abstract]

Liabilities Measured at Fair Value on Recurring Basis

The following table presents the Company’s hierarchy for its assets and liabilities measured at fair value on a recurring basis as of the following periods:


	April 3, 2026								January 2, 2026
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets:

Deferred compensation plan investments	$	4,505	$	—	$	—	$	4,505	$	4,693	$	—	$	—	$	4,693
Interest rate swaps	—		2,453		—		2,453		—		1,068		—		1,068
Total assets measured at fair value	$	4,505	$	24,828	$	—	$	29,333	$	4,693	$	1,068	$	—	$	5,761
Liabilities:
Term loan	$	—	$	519,062	$	—	$	519,062	$	—	$	530,781	$	—	$	530,781
Revolver	—		176,000		—		176,000		—		150,000		—		150,000
Deferred compensation plan liabilities	4,486		—		—		4,486		4,675		—		—		4,675
Interest rate swaps	—		—		—		—		—		762		—		762
Total liabilities measured at fair value	$	4,486	$	695,062	$	—	$	699,548	$	4,675	$	681,543	$	—	$	686,218

Derivatives and Hedging - Schedule of Interest Rate Derivatives (Details) - USD ($) $ in Thousands	Apr. 03, 2026	Jan. 02, 2026
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Unrealized Gain (Loss) in AOCI	$ 2,453	$ 306
Interest Rate Swap April 2022 to April 2027
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional Amount	100,000
Unrealized Gain (Loss) in AOCI	1,177	1,068
Interest Rate Swap September 2024 to December 2026
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional Amount	200,000
Unrealized Gain (Loss) in AOCI	79	(407)
Interest Rate Swap September 2024 to December 2029
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional Amount	100,000
Unrealized Gain (Loss) in AOCI	695	(86)
Interest Rate Swap December 2025 To December 2028
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional Amount	100,000
Unrealized Gain (Loss) in AOCI	$ 502	$ (269)

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Stockholders' Equity - Unvested RSU Activity (Details) shares in Thousands	3 Months Ended
	Apr. 03, 2026 $ / shares shares
Number of shares outstanding
Unvested at beginning of period (in shares) \| shares	746
Weighted-average grant date fair value
Unvested at beginning of period (in usd per share) \| $ / shares	$ 33.95
RSUs
Number of shares outstanding
Granted (in shares) \| shares	588
Vested (in shares) \| shares	(201)
Unvested at end of period (in shares) \| shares	1,116
Weighted-average grant date fair value
Granted (in usd per share) \| $ / shares	$ 18.06
Cancelled (in usd per share) \| $ / shares	33.29
Vested (in usd per share) \| $ / shares	34.85
Unvested at end of period (in usd per share) \| $ / shares	$ 25.43
Canceled (in shares) \| shares	(17)

Debt (Tables)

3 Months Ended

Apr. 03, 2026

Debt Disclosure [Abstract]

Summary of line of credit under 2022 Credit Facility

The following table summarizes the revolver under the Credit Agreement:


	April 3, 2026		January 2, 2026
Amount outstanding	$	176,000	$	150,000
Standby letters of credit	292		167
Available borrowing capacity	323,708		349,833
Total borrowing capacity	$	500,000	$	500,000

As of April 3, 2026, future principal payments for term loan debt, including the current portion, are summarized as follows:


For fiscal year	April 3, 2026
2026	$	20,156
2027	26,875
2028	26,875
2029	26,875
2030	418,281
Total	$	519,062
Debt issuance cost	(6,869)
Long-term debt, net of issuance cost	$	512,193
Less: current portion	(26,875)
Long-term debt less current portion	$	485,318

Cover - shares	3 Months Ended
Cover - shares	Apr. 03, 2026	Apr. 30, 2026
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Apr. 03, 2026
Document Transition Report	false
Entity File Number	001-36040
Entity Registrant Name	Fox Factory Holding Corp.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	26-1647258
Entity Address, Address Line One	2055 Sugarloaf Circle, Suite 300
Entity Address, City or Town	Duluth
Entity Address, State or Province	GA
Entity Address, Postal Zip Code	30097
City Area Code	831
Local Phone Number	274-6500
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	FOXF
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		41,936,133
Amendment Flag	false
Document Fiscal Year Focus	2026
Document Fiscal Period Focus	Q1
Entity Central Index Key	0001424929
Current Fiscal Year End Date	--01-01

Income Taxes (Tables)

3 Months Ended

Apr. 03, 2026

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)


	For the three months ended
	April 3, 2026			April 4, 2025
Benefit from income taxes	$	(614)		$	(3,637)
Effective tax rates	3.9		%	1.4		%

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Apr. 03, 2026	Apr. 04, 2025
Income Statement [Abstract]
Net sales	$ 368,657	$ 355,030
Cost of sales	262,269	245,351
Gross profit	106,388	109,679
Operating expenses:
Goodwill impairment	0	262,129
Sales and marketing	33,302	32,847
Research and development	18,454	17,039
General and administrative	38,646	37,331
Amortization of purchased intangibles	10,035	10,920
Total operating expenses	100,437	360,266
Income (loss) from operations	5,951	(250,587)
Interest expense	11,938	12,934
Other expense (income), net	9,645	(150)
Loss before income taxes	(15,632)	(263,371)
Income Tax Expense (Benefit)	(614)	(3,637)
Net loss	(15,018)	(259,734)
Less: net loss attributable to non-controlling interest	(22)	(40)
Net loss attributable to FOX stockholders	$ (14,996)	$ (259,694)
Net loss per share:
Basic (in dollars per share)	$ (0.36)	$ (6.23)
Diluted (in dollars per share)	$ (0.36)	$ (6.23)
Weighted-average shares used to compute earnings per share:
Basic (in shares)	41,862	41,711
Diluted (in shares)	41,862	41,711

Accrued Expenses - Activity Related to Warranties (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2026	Apr. 04, 2025
Movement in Standard Product Warranty Accrual [Roll Forward]
Beginning warranty liability	$ 15,173	$ 21,593
Charge to cost of sales	4,046	1,468
Costs incurred	(5,338)	(3,948)
Ending warranty liability	$ 13,881	$ 19,113

Condensed Consolidated Statements of Stockholders’ Equity - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Treasury	Additional paid-in capital	Accumulated other comprehensive income (loss)	Retained earnings	Noncontrolling Interest
Beginning Balance (in shares) at Jan. 03, 2025		42,574
Beginning balance at Jan. 03, 2025	$ 1,201,182	$ 42	$ (13,754)	$ 339,266	$ 224	$ 875,404	$ (38)
Beginning Treasury stock, common (in shares) at Jan. 03, 2025			890
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under equity compensation plans, net of shares repurchased for income tax withholding (in shares)		28
Issuance of common stock under equity compensation plans, net of shares repurchased for income tax withholding	(580)			(580)
Stock-based compensation expense	3,355			3,355
Other comprehensive income (loss)	(4,369)				(4,369)
Net loss	(259,694)					(259,694)	(40)
Ending Balance (in shares) at Apr. 04, 2025		42,602
Ending balance at Apr. 04, 2025	$ 939,894	$ 42	$ (13,754)	342,041	(4,145)	615,710	(78)
Ending Treasury stock, common (in shares) at Apr. 04, 2025			890
Beginning Balance (in shares) at Jan. 02, 2026	41,802	42,692
Beginning balance at Jan. 02, 2026	$ 670,184	$ 42	$ (13,754)	352,239	832	330,825	(179)
Beginning Treasury stock, common (in shares) at Jan. 02, 2026	890		890
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under equity compensation plans, net of shares repurchased for income tax withholding (in shares)		134
Issuance of common stock under equity compensation plans, net of shares repurchased for income tax withholding	$ (1,175)			(1,175)
Stock-based compensation expense	4,121			4,121
Other comprehensive income (loss)	622				622
Net loss	$ (14,996)					(14,996)	(22)
Ending Balance (in shares) at Apr. 03, 2026	41,936	42,826
Ending balance at Apr. 03, 2026	$ 658,756	$ 42	$ (13,754)	$ 355,185	$ 1,454	$ 315,829	$ (201)
Ending Treasury stock, common (in shares) at Apr. 03, 2026	890		890

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

+ References

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- Definition

Amount of equity (deficit) attributable to parent and noncontrolling interest. Excludes temporary equity.

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+ Details

Segments (Tables)

3 Months Ended

Apr. 03, 2026

Segment Reporting [Abstract]

Summary of Segment Information


	For the three months ended
	April 3, 2026		April 4, 2025
Net sales
Powered Vehicles Group	$	143,379	$	122,098
Aftermarket Applications Group	114,784		111,914
Specialty Sports Group	110,494		121,018
Net sales	$	368,657	$	355,030

Adjusted EBITDA
Powered Vehicles Group	22,556		14,383
Aftermarket Applications Group	11,402		16,993
Specialty Sports Group	17,454		23,394
	$	51,412	$	54,770
Reconciliation of segment adjusted EBITDA
Unallocated corporate expenses	(15,712)		(15,168)
Goodwill impairment	—		(262,129)

Depreciation and amortization(1)	(20,616)		(21,739)
Loss on divestiture	(9,994)		—
Non-cash stock-based compensation	(4,120)		(3,355)
Litigation and settlement-related expenses	(194)		(716)
Other acquisition and integration-related expenses(2)	(185)		(617)
Organizational restructuring expenses(3)	(2,121)		(2,311)
Strategic transformation costs	(2,635)		(20)
Interest and other expense, net	(11,467)		(12,086)
Consolidated loss before income taxes	$	(15,632)	$	(263,371)

(1) Depreciation excludes amortization for purchase accounting property, plant and equipment fair value adjustment and accelerated depreciation related to organizational restructuring initiatives.


	For the three months ended
	April 3, 2026		April 4, 2025
Powered Vehicles Group	$	120,823	$	107,715
Aftermarket Applications Group	$	103,382	$	94,921
Specialty Sports Group	$	93,040	$	97,624

Revenues - Sales by Geographic Location (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2026	Apr. 04, 2025
Disaggregation of Revenue [Line Items]
Total net sales	$ 368,657	$ 355,030
North America
Disaggregation of Revenue [Line Items]
Total net sales	285,460	272,301
Europe
Disaggregation of Revenue [Line Items]
Total net sales	45,572	48,277
Asia
Disaggregation of Revenue [Line Items]
Total net sales	31,175	27,809
Rest of the world
Disaggregation of Revenue [Line Items]
Total net sales	$ 6,450	$ 6,643

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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- Definition

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+ Details

Derivatives and Hedging (Details) - USD ($) $ in Thousands	3 Months Ended
Derivatives and Hedging (Details) - USD ($) $ in Thousands	Apr. 03, 2026	Apr. 04, 2025	Aug. 26, 2024	Apr. 05, 2022
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Change in net unrealized gains	$ 2,618	$ (3,948)
Reclassification of net gains on interest rate swap to net earnings	471	1,907
Tax effects	510	$ (1,396)
Interest rate swap
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of interest rate swap	500,000		$ 400	$ 100,000
Losses to be reclassified over the next twelve months	1,938
Interest Rate Swap December 2025 To December 2028
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional Amount	$ 100,000

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Prepaids and Other Current Assets (Details) - USD ($) $ in Thousands	Apr. 03, 2026	Jan. 02, 2026
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid chassis deposits	$ 70,645	$ 67,203
Advanced payments and prepaid contracts	22,785	26,139
Other current assets	32,841	15,082
Total prepaid and other current assets	$ 126,271	$ 108,424

Debt

3 Months Ended

Apr. 03, 2026

Debt Disclosure [Abstract]

Debt

Credit Agreement

On April 5, 2022, the Company entered into a new credit agreement with Wells Fargo Bank, National Association, and other named lenders (the “Credit Agreement”). The Credit Agreement, which was set to mature on April 5, 2027, provides for revolving loans, swingline loans, and letters of credit up to an aggregate amount of $650,000.

The Company may borrow, prepay, and re-borrow principal under the Credit Agreement during its term. Advances under the Credit Agreement can be either Adjusted Term Secured Overnight Financing Rate (“SOFR”) loans or base rate loans. SOFR rate revolving loans bear interest on the outstanding principal amount thereof for each interest period at a rate per annum equal to Term SOFR for such calculation plus 0.10% plus a margin ranging from 1.00% to 2.25%. Base rate revolving loans bear interest on the outstanding principal amount thereof at a rate per annum equal to the highest of (i) Federal Funds Rate plus 0.50%, (ii) the rate of interest in effect for such day as publicly announced from time to time by the lender as its “prime rate”, and (iii) Adjusted Term SOFR rate for a one-month tenor plus 1.00%, subject to the interest rate floors set forth therein, plus a margin ranging from 0.00% to 1.00%.

On November 14, 2023, in connection and concurrently with the closing of the Marucci acquisition, the Company entered into the First Incremental Facility Amendment (the “First Amendment”) amending the Credit Agreement. The First Amendment provided the Company with a term loan in an amount of $400,000 (the “Incremental Term A Loan”) and a delayed draw term loan in an amount of $200,000 (the “Delayed Draw Term Loan” and, together with the Incremental Term A Loan, the “Incremental Term Loans”), each of which are permitted under the Credit Agreement, subject to satisfaction of certain conditions. The Incremental Term A Loan was fully funded on November 14, 2023 and used to fund a portion of the consideration owed under the Marucci acquisition. The Delayed Draw Term Loan was available to the Company from and including December 6, 2023, until the earlier of (a) May 14, 2024 and (b) the date on which the Delayed Draw Term commitments have been terminated. Each Incremental Term Loan is subject to quarterly amortization payments of principal at a rate of 5.00% per annum. The Incremental Term Loans are in the form of term SOFR loans and base rate loans, at the option of the Company, and have an applicable margin ranging from 0.50% to 1.50% for base rate loans and 1.50% to 2.50% for term SOFR loans, subject to adjustment provisions. Each Incremental Term Loan has a maturity date of April 5, 2027, consistent with the Credit Agreement.

The Company paid $10,063 in debt issuance costs, of which $6,709 were allocated to the Term A Loan and $3,354 were allocated to the Delayed Draw Term Loan. Loan fees allocated to the Term A Loan are amortized using the interest method over the term of the Credit Facility. Loan fees allocated to the Delayed Draw Term Loan were deferred as an asset until the debt was drawn.

On May 13, 2024, the Company borrowed the full amount of $200,000 of the Delayed Draw Term Loan. The fees were reclassified to a contra-liability account and amortized over the term of the drawn debt using the interest method.

On July 31, 2024 and December 20, 2024, the Company entered into the Third and Fourth Amendments to the Credit Agreement, respectively, to secure an improved covenant profile on its capital structure to provide more flexibility given the uncertain macro environment. The Company paid $3,490 in loan fees for the Third and Fourth Amendments, of which $3,433 were allocated among the revolver and the Incremental Term Loans to be amortized over the remaining term of the Credit Agreement.

Amended Credit Agreement

On October 24, 2025, the Company entered into the Fifth Amendment to the Credit Agreement and Second Amendment to Guaranty and Security Agreement (the “Fifth Amendment”) among the Company, certain subsidiaries of the Company, Wells Fargo Bank, National Association, as administrative agent, swingline lender and letter of credit (“L/C”) issuer, and certain lenders named therein. The Fifth Amendment amends the Credit Agreement, dated as of April 5, 2022, as amended prior to the Fifth Amendment (as amended by the Fifth Amendment, the “Amended Credit Agreement”); and the Guaranty and Security Agreement, dated as of April 5, 2022, as amended prior to the Fifth Amendment, which secures the obligations under the Credit Agreement in favor of the Agent for the benefit of the lenders and other secured parties. Terms not otherwise defined below have the meaning as set forth in the Amended Credit Agreement.

The Fifth Amendment, among other things, amends the Credit Agreement to replace the existing loans provided under the Credit Agreement with (i) the Term Loan in the aggregate outstanding amount of $537,500, which will be repaid by the Company in quarterly installments in the amount of $6,719, (ii) the Revolving Credit Facility in an aggregate amount of up to $500,000, with sub-facilities for swing line loans in an aggregate amount of up to $25,000 and letters of credit in an aggregate amount of up to $25,000, and (iii) an incremental loan facility, subject to additional terms set forth in the Amended Credit Agreement, in an aggregate amount of up to $175,000 plus an unlimited amount so long as after giving effect to the incurrence of such incremental loans, on a pro forma basis, the Consolidated Net Leverage Ratio is less than 3.25. To the extent not previously paid, all then-outstanding amounts under the Term Loan and the Revolving Credit Facility are due and payable on October 24, 2030.

The Term Loan and advances under the Revolving Credit Facility can be either SOFR loans or base rate loans. SOFR loans bear interest on the outstanding principal amount thereof for each interest period at a rate per annum equal to the term SOFR for such calculation plus a margin ranging from 1.00% to 2.50%. Base rate loans bear interest on the outstanding principal amount thereof at a rate per annum equal to the highest of (i) Federal Funds Rate plus 0.50%, (ii) the rate of interest in effect for such day as publicly announced from time to time by the Agent as its “prime rate,” and (iii) term SOFR rate for a one-month tenor plus 1.00%, subject to the interest rate floors set forth in the Amended Credit Agreement, plus a margin ranging from 0.00% to 1.50%.

In connection with the Fifth Amendment, the Company borrowed $710,000 under the Amended Credit Agreement consisting of the $537,500 Term Loan and $172,500 under the Revolving Credit Facility, which was used to repay all outstanding amounts owed under the Credit Agreement prior to the Fifth Amendment and for general corporate purposes.

Debt issuance costs related to the Term Loan are presented as a direct deduction from the carrying amount of long-term debt on the consolidated balance sheet and are amortized using the effective interest method over the term of the Term Loan. Debt issuance costs related to the Revolving Credit Facility are presented in other non-current assets and are amortized on a straight-line basis over the term of the Revolving Credit Facility.

The Amended Credit Agreement is secured by substantially all of the Company’s assets, restricts the Company’s ability to make certain payments and engage in certain transactions, and requires that the Company satisfy customary financial ratios. The Company was in compliance with the covenants as of April 3, 2026.

At April 3, 2026, the one-month SOFR and three-month SOFR rates were 3.65% and 3.67%, respectively. At April 3, 2026, our weighted-average interest rate on outstanding borrowing was 6.04%.

The following table summarizes the revolver under the Credit Agreement:


	April 3, 2026		January 2, 2026
Amount outstanding	$	176,000	$	150,000
Standby letters of credit	292		167
Available borrowing capacity	323,708		349,833
Total borrowing capacity	$	500,000	$	500,000

As of April 3, 2026, future principal payments for term loan debt, including the current portion, are summarized as follows:


For fiscal year	April 3, 2026
2026	$	20,156
2027	26,875
2028	26,875
2029	26,875
2030	418,281
Total	$	519,062
Debt issuance cost	(6,869)
Long-term debt, net of issuance cost	$	512,193
Less: current portion	(26,875)
Long-term debt less current portion	$	485,318

The Company hedges the variability of cash flows in interest payments associated with the first $500,000 of its variable rate debt through swap agreements. Refer to Note 9 - Derivatives and Hedging for further details.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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+ Details

Debt - Narrative (Details)				3 Months Ended
Debt - Narrative (Details)	Oct. 24, 2025 USD ($)	Nov. 14, 2023 USD ($)	Apr. 05, 2022 USD ($)	Apr. 03, 2026 USD ($)	Apr. 04, 2025 USD ($)	Jan. 02, 2026 USD ($)	Aug. 26, 2024 USD ($)	Jun. 30, 2019 USD ($)
Debt Instrument [Line Items]
Debt issuance costs		$ 10,063,000
Proceeds from revolver				$ 67,000,000	$ 37,000,000
Weighted average interest rate on outstanding borrowings				6.04%
Amendment to the 2022 Credit Facility
Debt Instrument [Line Items]
Loan fees				$ 3,490,000
Fifth Amendment To Credit Agreement
Debt Instrument [Line Items]
Proceeds from revolver	$ 710,000,000
Interest rate swap
Debt Instrument [Line Items]
Amount of interest rate swap			$ 100,000,000	$ 500,000,000			$ 400,000
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)			0.10%
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate \| Minimum
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)			1.00%
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate \| Maximum
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)			2.25%
Fed Funds Effective Rate Overnight Index Swap Rate
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)			0.50%
Secured Overnight Financing Rate (SOFR) \| Three-Month Rate
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)				3.67%
London Interbank Offered Rate (LIBOR) 1
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)				3.65%
Line of Credit \| Fifth Amendment To Credit Agreement
Debt Instrument [Line Items]
Proceeds from revolver	$ 172,500,000
Line of Credit \| Fed Funds Effective Rate Overnight Index Swap Rate \| Fifth Amendment To Credit Agreement
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	0.50%
Line of Credit \| Secured Overnight Financing Rate (SOFR) \| Minimum \| Fifth Amendment To Credit Agreement
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	1.00%
Line of Credit \| Secured Overnight Financing Rate (SOFR) \| Maximum \| Fifth Amendment To Credit Agreement
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	2.50%
Line of Credit \| Prime Rate \| Fifth Amendment To Credit Agreement
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	1.00%
Line of Credit \| Interest Rate Floor \| Minimum \| Fifth Amendment To Credit Agreement
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	0.00%
Line of Credit \| Interest Rate Floor \| Maximum \| Fifth Amendment To Credit Agreement
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	1.50%
Term Loan
Debt Instrument [Line Items]
Term loan amount								$ 400,000,000
Debt issuance costs		6,709,000
Term Loan \| Fifth Amendment To Credit Agreement
Debt Instrument [Line Items]
Term loan amount	$ 537,500,000
Proceeds from revolver	537,500,000
Quarterly installments	6,719,000
Letter of Credit
Debt Instrument [Line Items]
Credit facility			$ 650,000,000
Letter of Credit \| Line of Credit \| Fifth Amendment To Credit Agreement
Debt Instrument [Line Items]
Credit facility	25,000,000
Revolving Credit Facility
Debt Instrument [Line Items]
Credit facility				$ 500,000,000		$ 500,000,000
Loan fees				$ 3,433,000
Revolving Credit Facility \| Line of Credit \| Fifth Amendment To Credit Agreement
Debt Instrument [Line Items]
Credit facility	500,000,000
Additional terms, aggregate amount	$ 175,000,000
Consolidated net leverage ratio	3.25
Revolving Credit Facility \| Line of Credit \| Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)			1.00%
Revolving Credit Facility \| Line of Credit \| Base Rate \| Minimum
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)			0.00%
Revolving Credit Facility \| Line of Credit \| Base Rate \| Maximum
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)			1.00%
Delayed Draw Term Loan Facility \| Line of Credit \| Amendment to the 2022 Credit Facility
Debt Instrument [Line Items]
Credit facility		$ 200,000,000
Interest rate		5.00%
Debt issuance costs		$ 3,354,000
Delayed Draw Term Loan Facility \| Line of Credit \| Base Rate \| Minimum \| Amendment to the 2022 Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)		0.50%
Delayed Draw Term Loan Facility \| Line of Credit \| Base Rate \| Maximum \| Amendment to the 2022 Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)		1.50%
Delayed Draw Term Loan Facility \| Line of Credit \| Secured Overnight Financing Rate (SOFR) \| Minimum \| Amendment to the 2022 Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)		1.50%
Delayed Draw Term Loan Facility \| Line of Credit \| Secured Overnight Financing Rate (SOFR) \| Maximum \| Amendment to the 2022 Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)		2.50%
Subfacility For Swing Line Loans \| Line of Credit \| Fifth Amendment To Credit Agreement
Debt Instrument [Line Items]
Credit facility	$ 25,000,000

Commitment and Contingencies (Details) $ in Thousands	3 Months Ended
Commitment and Contingencies (Details) $ in Thousands	Apr. 03, 2026 USD ($)	Apr. 04, 2025 USD ($)	Jan. 02, 2026 USD ($)	Oct. 09, 2024 complaint
Breach of Fiduciary Duties \| Pending Litigation
Gain Contingencies [Line Items]
Number of derivative complaints \| complaint				2
Ford
Gain Contingencies [Line Items]
Bailment pool arrangement, allocation	$ 15,399		$ 9,566
Bailment pool arrangement, maximum allocation	38,300		38,300
Bailment pool arrangement, interest expense	482	$ 677
General Motors
Gain Contingencies [Line Items]
Bailment pool arrangement, allocation	12,298		11,152
Bailment pool arrangement, maximum allocation	$ 49,500		$ 49,500

Inventory (Tables)

3 Months Ended

Apr. 03, 2026

Inventory Disclosure [Abstract]

Inventory

Inventory consisted of the following:


	April 3, 2026		January 2, 2026
Raw materials	$	225,118	$	226,341
Work-in-process	15,129		22,440
Finished goods	134,869		139,854
Total inventory	$	375,116	$	388,635

Description of the Business, Basis of Presentation and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Apr. 03, 2026
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation - The accompanying condensed consolidated financial statements are unaudited. These unaudited interim condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles (“GAAP”) in the United States of America (“U.S.” or “United States”) and applicable rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) regarding interim financial reporting. The year-end condensed consolidated balance sheet data was derived from audited financial statements, but does not include all disclosures required by GAAP. Certain information and footnote disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. Accordingly, these interim condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements for the fiscal year ended January 2, 2026 included in the Company’s Annual Report on Form 10-K, as filed with the SEC on February 27, 2026. In management’s opinion, the unaudited interim condensed consolidated financial statements reflect all adjustments, which are of a normal and recurring nature, that are necessary for a fair presentation of financial results for the interim periods presented. Operating results for any quarter are not necessarily indicative of the results for the full fiscal year.
Fiscal Year	Fiscal Year Calendar - The Company operates on a 52-53-week fiscal year calendar. For 2026 and 2025, the Company’s fiscal year will end or has ended on January 1, 2027 and January 2, 2026, respectively. The 12-month periods ended January 1, 2027 and January 2, 2026, will include or have included 52 weeks. The three-month periods ended April 3, 2026 and April 4, 2025 each included 13 weeks.
Principles of Consolidation	Principles of Consolidation - These condensed consolidated financial statements include the Company and its subsidiaries. All intercompany transactions and balances have been eliminated in consolidation.
Revenue Recognition	Revenue Recognition - Revenues are generated from the sale of performance-defining products and systems to customers worldwide. The Company’s performance-defining products and systems are solutions that improve performance of powered vehicles, bikes, and baseball and softball gear and equipment. Powered vehicles include side-by-sides, on-road vehicles with and without off-road capabilities, purpose-built off-road vehicles and trucks, ATVs, snowmobiles, specialty vehicles and applications, motorcycles, and commercial trucks. Revenue is measured based on the consideration specified in a contract with a customer. The Company recognizes revenue when it satisfies a performance obligation by transferring control of a product to a customer, generally at the time of shipment. Substantially all of the Company’s revenue is recognized at a point in time. Contracts are generally in the form of purchase orders and are governed by standard terms and conditions. For larger OEMs, the Company may also enter into master agreements. Sales tax and other similar taxes are excluded from revenues. Tariff surcharges consisting of amounts billed to customers to recover tariff costs are recorded as revenue when the associated products are recognized as revenue. Revenues generated from upfit packages generally do not include the vehicle chassis, as the Company is not the principal in this arrangement and the automotive dealer purchases the chassis directly from the OEM. The Company is required to place a deposit on Stellantis vehicle chassis; however, that deposit is refunded when the chassis is sold through to our customer. For other chassis, the Company entered into floor plan financing agreements, in which the Company pays interest expense based on the duration of time the chassis stay on the Company's premises. Revenues generated from custom upfit packages from the Outside Van and Upfit UTV subsidiaries generally include the vehicle chassis, of which the Company has the risks and rewards of ownership. We elected as a practical expedient to not capitalize the incremental costs to obtain contracts with customers since the amortization period would have been one year or less. Provisions for discounts, rebates, sales incentives, returns, and other adjustments are generally provided for in the period the related sales are recorded, based on management’s assessment of historical trends and projection of future results.
Segments	Segments - We have three operating and reportable segments: Powered Vehicles Group (“PVG”), Aftermarket Applications Group (“AAG”), and Specialty Sports Group (“SSG”). The Company considers operating segments to be components of the Company in which separate financial information is available that is evaluated regularly by the Company’s chief operating decision maker (“CODM”) in deciding how to allocate resources and in assessing performance. The CODM for the Company is the Chief Executive Officer.
Goodwill, Intangible Assets, and Long-Lived Assets	Goodwill, Intangible Assets, and Long-Lived Assets Goodwill Goodwill represents the excess of purchase price over the fair value of the net assets of businesses acquired. On an annual basis, the Company performs a qualitative assessment to determine if it is more likely than not that the fair value of the reporting unit is less than its carrying amount, including goodwill. If the Company determines that it is more likely than not that the fair value of the reporting unit is less than its carrying amount, it will perform a quantitative analysis; otherwise, no further evaluation is necessary. For the quantitative impairment test, the Company compares the fair value of the reporting unit to its carrying value, including goodwill. The Company determines the fair value of the reporting unit based on a weighting of income and market approaches. The income approach employs a discounted cash flow model, projecting revenue and cash flows over a multi-year period. These projections are based on management’s estimates, historical performance trends, and industry outlooks. These cash flows, along with a terminal value, are discounted to their present value using a weighted-average cost of capital (“WACC”) that reflects a market rate appropriate for each reporting unit. The market approach employs multiples for public companies that reasonably compare to the reporting units. If the fair value of the reporting unit exceeds the carrying value of the net assets assigned to that reporting unit, goodwill is not impaired and no further testing is performed. If the carrying value of the net assets assigned to the reporting unit exceeds the fair value of the reporting unit, then the Company will recognize a loss equal to the excess, limited to the total amount of goodwill allocated to that reporting unit. All impairments, if any, are charged directly to earnings. Indefinite-lived intangible assets Certain trademarks and trade names, including FOX and others from certain subsidiaries, are considered to be indefinite life intangibles, and are not amortized but are subject to testing for impairment annually. Finite-lived intangible assets and other long-lived assets We assess the recoverability of identifiable finite-lived intangible assets whenever events or changes in circumstances indicate that an asset or asset group’s carrying amount may be impaired. Impairment of certain finite-lived intangible assets, particularly customer relationships, certain trade names, and core technology, is measured by comparing the carrying amount of the asset group to which the assets are assigned to the sum of the undiscounted estimated future cash flows the asset group is expected to generate. If the asset or asset group is considered to be impaired, the amount of such impairment would be measured by the difference between the carrying amount of the asset and its fair value. The Company reviews property and equipment for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset is impaired or the estimated useful lives are no longer appropriate. If indicators of impairment exist and the undiscounted projected cash flows associated with such assets are less than the carrying amount of the assets, an impairment loss is recorded to write the assets down to their estimated fair values. Fair value is estimated based on discounted future cash flows.
Use of Estimates	Use of Estimates - The preparation of the Company’s condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of income and expenses during the reporting period. These estimates are based on information available as of the date of the financial statements; therefore, actual results could differ from management’s estimates.
Reclassifications	Reclassifications - We reclassified certain prior period amounts within our condensed consolidated statement of cash flows to conform to our current year presentation. The reclassifications did not have any impact on net income.
Certain Significant Risks and Uncertainties	Certain Significant Risks and Uncertainties - As of April 3, 2026, the Company is subject to those risks common in manufacturing-driven markets, including, but not limited to, competitive forces, dependence on key personnel, customer demand for its products, disruptions in the operations of its or its customers’ facilities, or along its global supply chain, the successful protection of its proprietary technologies, compliance with government regulations, and the possibility of not being able to obtain additional financing when needed. The impact of geopolitical conflicts, including, among others, continuing tensions between Taiwan and China, and the war in Iran continue to create uncertainty in global economic conditions and volatility in energy, raw materials, and supply chains, which may negatively impact the Company’s business and operations. Additionally, the imposition of U.S. tariffs on China, Canada, Mexico, Taiwan and other countries, as well as potential changes to or expansions of such tariffs and related retaliatory trade measures, disrupt supply chains, and impact demand for the Company’s products. Furthermore, domestic and foreign political instability and uncertainty may create economic volatility, regulatory changes, and trade disruptions that pose additional risks to the Company’s business environment.
Fair Value Measurements and Financial Instruments	Fair Value Measurements and Financial Instruments - The Financial Accounting Standards Board (“FASB”) issued Accounting Standards Codification (“ASC”) 820, Fair Value Measurements and Disclosures, that requires the valuation of assets and liabilities required or permitted to be either recorded or disclosed at fair value based on hierarchy of available inputs as follows: Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; Level 2: Quoted prices for similar assets and liabilities in active markets, quoted prices for identical assets and liabilities in markets that are not active, or inputs which are observable, either directly or indirectly, for substantially the full term of the asset or liability; and Level 3: Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported by little or no market activity). The carrying amounts of the Company’s financial instruments, including cash, receivables, accounts payable, accrued liabilities, and current portion of long-term debt approximate their fair values due to their short-term nature. The carrying amounts of the Company’s revolver and long-term debt, excluding current portion, approximate their fair values because the interest rates vary with the market.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In November 2024 and January 2025, respectively, the FASB issued ASU 2024-03 and ASU 2025-01, “Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses,” which adds new disclosure requirements, including more detailed information about certain income statement expense captions and a separate disclosure for selling expenses. The guidance is effective for annual reporting periods beginning after December 15, 2026 and interim periods within annual reporting periods beginning after December 15, 2027, with retrospective application and early adoption permitted. The Company is currently evaluating the impact of the accounting standard updates on its consolidated financial statements and related disclosures. In July 2025, the FASB issued ASU 2025-05, “Financial Instrument - Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets.” The ASU provides a practical expedient for estimating current expected credit losses by allowing entities to assume that conditions existing as of the balance sheet date do not change for the remaining life of the assets. The guidance is effective for interim and annual reporting periods beginning after December 15, 2025. The Company elected the practical expedient starting the first quarter of fiscal 2026 and applied the guidance prospectively. The adoption of this guidance did not have a material impact on its consolidated financial statements and related disclosures. In September 2025, the FASB issued ASU 2025-06, “Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software.” The amendments in ASU 2025-06 clarify and modernize the capitalization of costs related to internal-use software. The ASU removes all references to project stages throughout Subtopic 350-40 and clarifies the threshold entities apply to begin capitalizing costs. The guidance is effective for interim and annual reporting periods beginning after December 15, 2027. The Company is currently evaluating the impact of the accounting standard updates on its consolidated financial statements and related disclosures. In November 2025, the FASB issued ASU 2025-09, “Derivatives and Hedging (Topic 815): Hedge Accounting Improvements.” The amendments introduce targeted improvements across several areas, including similar‑risk assessments for groups of forecasted transactions, hedging interest payments on choose‑your‑rate debt instruments, and cash flow hedges of nonfinancial forecasted transactions. The guidance is intended to better align hedge accounting with entities’ risk‑management activities and reduce unintuitive hedge dedesignation events. The guidance is effective for annual reporting periods, including interim periods within those periods, beginning after December 15, 2026, with early adoption permitted. The Company is currently evaluating the impact of the ASU and does not expect it to have a material effect on its consolidated financial statements or related disclosures. In December 2025, the FASB issued ASU 2025-10, “Government Grants (Topic 832): Accounting for Government Grants Received by Business Entities.” The ASU establishes authoritative guidance on the recognition, measurement, and presentation of government grants received by business entities, leveraging principles from IAS 20 and introducing targeted improvements to U.S. GAAP. The ASU also modifies certain existing disclosure requirements in ASC 832 to enhance transparency of government assistance. The guidance is effective for annual periods beginning after December 15, 2028 for public business entities, and one year later for all other entities, with early adoption permitted. The Company is currently evaluating the impact of the ASU on its consolidated financial statements and related disclosures. In December 2025, the FASB issued ASU 2025‑11, “Interim Reporting (Topic 270): Narrow‑Scope Improvements.” The amendments clarify that Topic 270 applies to all entities providing interim financial statements under GAAP, consolidate required interim disclosures, introduce a disclosure principle for material post–year‑end events, and refine guidance on the form and content of interim financial statements. The amendments do not change the nature or scope of existing interim reporting requirements. The guidance is effective for interim reporting periods within fiscal years beginning after December 15, 2027. The Company is currently evaluating the impact of these updates on its consolidated financial statements and related disclosures. In December 2025, the FASB issued ASU 2025‑12, “Codification Improvements.” The ASU introduces various technical corrections, clarifications, and minor improvements across a wide range of ASC Topics and are not expected to significantly affect current accounting practice or impose significant costs on most entities. General transition guidance is provided in ASC 105‑10‑65‑10, with separate transition provisions for the earnings‑per‑share amendments in ASC 260. The guidance is effective for annual periods beginning after December 15, 2026, including interim periods within those fiscal years. The Company is currently evaluating the impact of these updates and does not expect them to have a material impact on its consolidated financial statements and related disclosures.

Stockholders' Equity

3 Months Ended

Apr. 03, 2026

Share-Based Payment Arrangement [Abstract]

Stockholders' Equity

Stockholders’ Equity

Share Repurchase Plan

On November 1, 2023, the Company’s Board of Directors authorized a share repurchase plan for up to $300,000 in shares of the Company’s common stock, par value $0.001 per share. The share repurchase program is scheduled to expire on November 1, 2028. Repurchases of shares of common stock under the stock repurchase plan will be made in accordance with applicable securities laws and may be made under a variety of methods, which may include open market purchases. The stock repurchase program does not obligate the Company to acquire any particular amount of common stock, and it may be suspended or terminated at any time at the Company’s discretion.

There were no repurchases of common stock during the three months ended April 3, 2026 and April 4, 2025. As of April 3, 2026, authorized repurchases of $250,000 remain available to the Company.

Equity Incentive Plans

The following table summarizes the allocation of stock-based compensation in the accompanying condensed consolidated statements of operations:


	For the three months ended
	April 3, 2026		April 4, 2025
Cost of sales	$	283	$	298
Sales and marketing	382		389
Research and development	433		332
General and administrative	3,023		2,336
Total	$	4,121	$	3,355

The Company grants both time-based and performance-based stock awards, which also include a time-based vesting feature. Compensation expense for time-based stock awards is measured at the grant date based on the closing market price of the Company’s common stock and recognized ratably over the vesting period.

For performance-based stock awards, compensation expense is measured based on estimates of the number of shares ultimately expected to vest at each reporting date based on management’s expectations regarding the relevant performance criteria. The recognition of compensation expense associated with performance-based stock awards requires defined criteria for assessing achievement and judgment in assessing the probability of meeting the performance goals.

The following table summarizes the activity for the Company’s unvested restricted stock units (“RSUs”) for the three months ended April 3, 2026:


	Unvested RSUs
	Number of shares outstanding	Weighted-average grant date fair value
Unvested at January 2, 2026	746	$	33.95
Granted	588	$	18.06
Canceled	(17)	$	33.29
Vested	(201)	$	34.85
Unvested at April 3, 2026	1,116	$	25.43

As of April 3, 2026, the Company had approximately $22,646 of unrecognized stock-based compensation expense related to RSUs, which will be recognized over the remaining weighted-average vesting period of approximately 2.19 years.

During the three months ended April 3, 2026, the Company issued performance-based restricted stock units (“PSUs”) to certain executives that represent shares potentially issuable in the future. Issuance is based upon the Company’s performance, over a three-year performance period, on certain measures including return on invested capital and free cash flow. The PSUs vest only upon the achievement of the applicable performance goals for the performance period and, depending on the actual achievement on the performance goals, the grantee may earn between 0% and 200% of the target PSUs.

The following table summarizes the activity for the Company’s unvested PSUs for the three months ended April 3, 2026:


	Unvested PSUs
	Number of shares outstanding	Weighted-average grant date fair value
Unvested at January 2, 2026	464	$	35.03
Granted	585	$	18.05
Canceled	(4)	$	38.49
Vested	—	$	—
Unvested at April 3, 2026	1,045	$	25.52

The fair value of PSUs is calculated based on the stock price on the grant date, assuming the performance goals will be achieved at target. The stock-based compensation expense recognized each period is dependent upon our estimate of the number of shares that will ultimately vest based on the achievement of certain performance conditions. Future stock-based compensation expense for unvested PSUs could reach a maximum of $32,797, assuming achievement at the maximum level. The unrecognized stock-based compensation expense is expected to be recognized over a weighted average period of 1.71 years.

Stockholders' Equity - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Apr. 03, 2026	Apr. 04, 2025	Nov. 01, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share repurchase program, authorized amount			$ 300,000
Stock repurchase program, par value			$ 0.001
Remaining authorized repurchase amount	$ 250,000
Allocated share-based compensation expense	4,121	$ 3,355
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock-based compensation expense related to RSUs	$ 22,646
Period for recognition of unrecognized stock-based compensation expense	2 years 2 months 8 days
PSU
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock-based compensation expense related to RSUs	$ 32,797
Period for recognition of unrecognized stock-based compensation expense	1 year 8 months 15 days
PSU \| Minimum \| Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance goal, percentage	0.00%
PSU \| Maximum \| Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period	three
Performance goal, percentage	200.00%

Revenues - Sales by Product Category (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2026	Apr. 04, 2025
Disaggregation of Revenue [Line Items]
Total net sales	$ 368,657	$ 355,030
Powered Vehicles Group
Disaggregation of Revenue [Line Items]
Total net sales	143,379	122,098
Specialty Sports Group
Disaggregation of Revenue [Line Items]
Total net sales	110,494	121,018
Aftermarket Applications Group
Disaggregation of Revenue [Line Items]
Total net sales	$ 114,784	$ 111,914

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
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Property, Plant and Equipment, net - Long-lived Assets by Geographic Location (Details) - USD ($) $ in Thousands	Apr. 03, 2026	Jan. 02, 2026
Property, Plant and Equipment [Line Items]
Total long-lived assets	$ 220,299	$ 234,635
United States
Property, Plant and Equipment [Line Items]
Total long-lived assets	183,828	196,439
International
Property, Plant and Equipment [Line Items]
Total long-lived assets	$ 36,471	$ 38,196

Accrued Expenses (Tables)

3 Months Ended

Apr. 03, 2026

Payables and Accruals [Abstract]

Accrued Expenses

Accrued expenses consisted of the following:


	April 3, 2026		January 2, 2026
Payroll and related expenses	$	25,461	$	32,743
Current portion of lease liabilities	13,145		16,221
Warranty	13,881		15,173

Income tax payable	11,587		7,354
Other accrued expenses	21,550		20,604
Total accrued expenses	$	85,624	$	92,095

Activity Related to Warranties

Activity related to warranties is as follows:


	For the three months ended
	April 3, 2026		April 4, 2025
Beginning warranty liability	$	15,173	$	21,593
Charge to cost of sales	4,046		1,468

Costs incurred	(5,338)		(3,948)
Ending warranty liability	$	13,881	$	19,113

*All changes to warranty liability were within normal course of business.

Property, Plant and Equipment, net

3 Months Ended

Apr. 03, 2026

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment, net

Property, plant and equipment, net consisted of the following:


	April 3, 2026		January 2, 2026
Machinery and manufacturing equipment	$	187,305	$	193,865
Building and building improvements	83,424		83,550
Leasehold improvements	43,096		44,279
Internal-use computer software	40,310		40,399
Information systems, office equipment and furniture	34,124		32,412
Transportation equipment	24,722		25,609
Land and land improvements	15,594		15,561
Total property, plant and equipment	428,575		435,675
Less: accumulated depreciation and amortization	(208,276)		(201,040)
Total property, plant and equipment, net	$	220,299	$	234,635

The Company’s long-lived assets by geographic location are as follows:


	April 3, 2026		January 2, 2026
United States	$	183,828	$	196,439
International	36,471		38,196
Total long-lived assets	$	220,299	$	234,635

Revenues - Sales by Sales Channel (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2026	Apr. 04, 2025
Disaggregation of Revenue [Line Items]
Total net sales	$ 368,657	$ 355,030
OEM
Disaggregation of Revenue [Line Items]
Total net sales	169,287	156,321
Aftermarket/Non-OEM(1)
Disaggregation of Revenue [Line Items]
Total net sales	$ 199,370	$ 198,709

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-7

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Derivatives and Hedging

3 Months Ended

Apr. 03, 2026

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivatives and Hedging

The Company is exposed to certain risks relating to its ongoing business operations. The primary risk managed by using derivative instruments is interest rate risk. The Company utilizes interest rate swaps to limit its exposure to interest rate risk by converting a portion of its floating-rate debt to a fixed-rate basis, thus reducing the impact of interest rate changes on future interest expense. Interest rate swaps involve the receipt of floating-rate amounts in exchange for fixed-rate interest payments based on the SOFR over the lives of the agreements without an exchange of the underlying principal amounts. The Company hedges the variability of cash flows in interest payments associated with the first $500,000 of its variable rate debt through the interest rate swaps.

As of April 3, 2026 and January 2, 2026, the Company had the following interest rate swap contracts:


			April 3, 2026		January 2, 2026
Effective Date	Termination Date	Notional Amount	Unrealized Gain (Loss) in AOCI		Unrealized Gain (Loss) in AOCI
April 5, 2022	April 5, 2027	$100,000	$	1,177	$	1,068
September 20, 2024	December 25, 2026	$200,000	79		(407)
September 20, 2024	September 21, 2029	$100,000	695		(86)
December 26, 2025	December 22, 2028	$100,000	502		(269)
Total			$	2,453	$	306

On April 5, 2022, the Company entered into a new interest rate swap agreement with a notional amount of $100,000. On August 26, 2024, the Company entered into new interest rate swap agreements with an aggregate notional amount of $400,000, one of which matured on December 26, 2025. On December 16, 2025, the Company entered into a new three-year interest rate swap agreement, effective December 26, 2025, with a notional amount of $100,000.

The interest rate swaps are indexed to a three-month Term SOFR as defined in the agreements. The interest rate swaps met the criteria as cash flow hedges under ASC 815, Derivatives and Hedging (“ASC 815”), and are recorded to prepaids and other current assets, other assets, accrued expenses, or other liabilities on the condensed consolidated balance sheets. Refer to Note 10 - Fair Value Measurements and Financial Instruments for additional information on determining the fair value. The unrealized gains or losses, after tax, will be recorded in accumulated other comprehensive income, a component of equity, and are expected to be reclassified into interest expense on the condensed consolidated statements of operations when the forecasted transactions affect earnings. As required under ASC 815, the interest rate swap contracts’ effectiveness will be assessed on a quarterly basis using a quantitative regression analysis.

The unrealized gains and losses deferred to accumulated other comprehensive income resulting from the derivative instruments designated as cash flow hedges for the three months ended April 3, 2026 and April 4, 2025 were a net gain of $2,618 and a net loss of $3,948, respectively. The reclassifications of unrealized gains from accumulated other comprehensive income into earnings related to the derivative instruments designated as cash flow hedges during the three months ended April 3, 2026 and April 4, 2025 were $471 and $1,907, respectively. The aggregate tax effects on activity in accumulated other comprehensive income associated with the derivative instruments designated as cash flow hedges during three months ended April 3, 2026 and April 4, 2025 were a gain of $510 and a loss of $1,396, respectively.

Over the next 12 months, the Company estimates that $1,938 of existing net gain in AOCI related to the interest rate swap contracts will be reclassified as a decrease to interest expense.

- Definition

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

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+ Details

Prepaids and Other Current Assets (Tables)

3 Months Ended

Apr. 03, 2026

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Schedule of Other Current Assets

Prepaids and other current assets consisted of the following:


	April 3, 2026		January 2, 2026
Prepaid chassis deposits	$	70,645	$	67,203
Advanced payments and prepaid contracts	22,785		26,139
Other current assets	32,841		15,082
Total prepaid and other current assets	$	126,271	$	108,424

Stockholders' Equity (Tables)

3 Months Ended

Apr. 03, 2026

Share-Based Payment Arrangement [Abstract]

Summary of Stock-based Compensation Allocation

The following table summarizes the allocation of stock-based compensation in the accompanying condensed consolidated statements of operations:


	For the three months ended
	April 3, 2026		April 4, 2025
Cost of sales	$	283	$	298
Sales and marketing	382		389
Research and development	433		332
General and administrative	3,023		2,336
Total	$	4,121	$	3,355

Summary of Unvested Restricted Stock Units (RSU) Activity

The following table summarizes the activity for the Company’s unvested restricted stock units (“RSUs”) for the three months ended April 3, 2026:


	Unvested RSUs
	Number of shares outstanding	Weighted-average grant date fair value
Unvested at January 2, 2026	746	$	33.95
Granted	588	$	18.06
Canceled	(17)	$	33.29
Vested	(201)	$	34.85
Unvested at April 3, 2026	1,116	$	25.43

Summary of Unvested PSUs Activity

The following table summarizes the activity for the Company’s unvested PSUs for the three months ended April 3, 2026:


	Unvested PSUs
	Number of shares outstanding	Weighted-average grant date fair value
Unvested at January 2, 2026	464	$	35.03
Granted	585	$	18.05
Canceled	(4)	$	38.49
Vested	—	$	—
Unvested at April 3, 2026	1,045	$	25.52

Inventory (Details) - USD ($) $ in Thousands	Apr. 03, 2026	Jan. 02, 2026
Inventory Disclosure [Abstract]
Raw materials	$ 225,118	$ 226,341
Work-in-process	15,129	22,440
Finished goods	134,869	139,854
Total inventory	$ 375,116	$ 388,635

Divestiture	3 Months Ended
Divestiture	Apr. 03, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]
Divestiture	Divestiture On February 26, 2026, the Company divested its Phoenix, Arizona AAG operations, including the Shock Therapy, Upfit UTV, and Geiser businesses, as part of ongoing efforts to streamline operations. The Company sold the businesses to S&G Holdings and Investments Company (“S&G”) and the former general manager of the businesses who was also the prior owner of Shock Therapy, whose employment with the Company ended upon execution of the transaction. The transaction was conducted on terms comparable to those that would have been obtained in a transaction with an unrelated party. The consideration consisted of $5,000 in cash and a promissory note receivable of $22,375, bearing interest at a rate of 6.75% per annum, with a maturity date of June 30, 2028. The Company recorded a $9,993 loss associated with the sale that is presented in other expense (income), net on the condensed consolidated statement of operations. The divestiture did not represent a strategic shift with a major effect on the Company’s operations and financial results and, therefore, is not reported as a discontinued operation. As part of the divestiture, the Company obtained a warrant to purchase 10% of the fully diluted common equity of S&G at a nominal exercise price of $0.01 per share. The warrant is exercisable beginning on the earlier of February 26, 2029 or upon notice of a fundamental transaction involving S&G, and expires on February 26, 2036. The warrant is exercisable through cash exercise only. The initial fair value of the warrant was determined to be zero based on a Level 3 measurement under ASC 820, using unobservable inputs including management's assessment of the enterprise value of S&G, the capital structure and leverage of the entity, the historical financial performance of the underlying businesses, and the impact of the exercise lockout period on time value. The Company elected to account for the warrant under the measurement alternative in ASC 321-10-35-2, measuring it at cost minus impairment, adjusted for observable price changes. As of April 3, 2026, the carrying amount of the warrant was zero. No impairments, downward adjustments, or upward adjustments have been recognized since the warrant was obtained. In connection with the divestiture, the Company retained an operating lease for a facility previously shared with Shock Therapy and entered into a sublease arrangement with the buyer. The sublease has a remaining term of approximately four years and provides for aggregate sublease income of approximately $630. The Company's obligations under the head lease are unchanged by the sublease arrangement.

Income Taxes - Components (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2026	Apr. 04, 2025
Income Tax Disclosure [Abstract]
Benefit from income taxes	$ (614)	$ (3,637)
Effective tax rates	3.90%	1.40%

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

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+ Details

Debt - Summary of Amended and Restated Credit Facility (Details) - USD ($) $ in Thousands	Apr. 03, 2026	Jan. 02, 2026
Debt Instrument [Line Items]
Amount outstanding	$ 176,000	$ 150,000
Revolving Credit Facility
Debt Instrument [Line Items]
Amount outstanding	176,000	150,000
Standby letters of credit	292	167
Available borrowing capacity	323,708	349,833
Total borrowing capacity	$ 500,000	$ 500,000

- Definition

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+ Details

- Definition

The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

+ References + Details

Net Loss Per Share

3 Months Ended

Apr. 03, 2026

Earnings Per Share [Abstract]

Net Loss Per Share

Basic earnings per share amounts are computed by dividing earnings (net loss) for the period by the weighted average number of common shares outstanding during the period. Diluted earnings per share amounts are computed by dividing earnings (net loss) for the period by the weighted average number of shares of common stock and potentially dilutive common stock outstanding during the period. Potentially dilutive common shares include shares issuable upon the exercise of outstanding stock options and vesting of RSUs and PSUs, which are reflected in diluted earnings per share by application of the treasury stock method.

When the Company incurs a net loss for a period, all potential common shares are considered anti-dilutive in accordance with ASC 260. Accordingly, diluted net loss per share is the same as basic net loss per share for such periods, and the impact of stock-based awards and other potentially dilutive securities is excluded from the computation of diluted net loss per share.

The Company excluded 309 and 241 shares from the calculation of diluted earnings per share for the three months ended April 3, 2026 and April 4, 2025, respectively, as these shares would have been antidilutive. Due to the net loss reported for the three months ended April 3, 2026 and April 4, 2025, there were no dilutive shares included in the calculation of diluted net loss per share for the period.

The following table presents the calculation of basic and diluted earnings per share:


	For the three months ended
	April 3, 2026		April 4, 2025
Net loss attributable to FOX stockholders	$	(14,996)	$	(259,694)

Weighted average shares used to compute basic earnings per share	41,862		41,711
Dilutive effect of employee stock plans	—		—
Weighted average shares used to compute diluted earnings per share	41,862		41,711
Net loss per share:
Basic	$	(0.36)	$	(6.23)
Diluted	$	(0.36)	$	(6.23)

Fair Value Measurements and Financial Instruments - Assets and Liabilities at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Apr. 03, 2026	Jan. 02, 2026
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Deferred compensation plan investments	$ 4,505	$ 4,693
Total assets measured at fair value	29,333	5,761
Incremental Term Loans/Revolver	519,062	530,781
Deferred compensation plan liabilities	4,486	4,675
Total liabilities measured at fair value	699,548	686,218
Revolving Credit Facility
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Incremental Term Loans/Revolver	176,000	150,000
Interest rate swap
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate swaps	2,453	1,068
Interest rate swaps	0	762
Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Deferred compensation plan investments	4,505	4,693
Total assets measured at fair value	4,505	4,693
Incremental Term Loans/Revolver	0	0
Deferred compensation plan liabilities	4,486	4,675
Total liabilities measured at fair value	4,486	4,675
Level 1 \| Revolving Credit Facility
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Incremental Term Loans/Revolver	0	0
Level 1 \| Interest rate swap
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate swaps	0	0
Interest rate swaps	0	0
Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Deferred compensation plan investments	0	0
Total assets measured at fair value	24,828	1,068
Incremental Term Loans/Revolver	519,062	530,781
Deferred compensation plan liabilities	0	0
Total liabilities measured at fair value	695,062	681,543
Level 2 \| Revolving Credit Facility
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Incremental Term Loans/Revolver	176,000	150,000
Level 2 \| Interest rate swap
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate swaps	2,453	1,068
Interest rate swaps	0	762
Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Deferred compensation plan investments	0	0
Total assets measured at fair value	0	0
Incremental Term Loans/Revolver	0	0
Deferred compensation plan liabilities	0	0
Total liabilities measured at fair value	0	0
Level 3 \| Revolving Credit Facility
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Incremental Term Loans/Revolver	0	0
Level 3 \| Interest rate swap
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate swaps	0	0
Interest rate swaps	$ 0	$ 0

Income Taxes - Narrative (Details)	3 Months Ended
Income Taxes - Narrative (Details)	Apr. 03, 2026	Apr. 04, 2025
Income Tax Disclosure [Abstract]
Effective tax rates	3.90%	1.40%
Federal statutory rate	21.00%

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2026	Apr. 04, 2025
Statement of Comprehensive Income [Abstract]
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	$ (15,018)	$ (259,734)
Other comprehensive income (loss)
Change in net unrealized gains	2,618	(3,948)
Reclassification of net gains on interest rate swap to net earnings	(471)	(1,907)
Tax effects	510	(1,396)
Net change, net of tax effects	2,657	(7,251)
Foreign currency translation adjustments	(2,035)	2,882
Other comprehensive income (loss)	622	(4,369)
Comprehensive loss	(14,396)	(264,103)
Less: comprehensive loss attributable to non-controlling interest	(22)	(40)
Comprehensive loss attributable to FOX stockholders	$ (14,374)	$ (264,063)