17.
Segment and Geographic Data

The Company operates as one operating segment. The Company's chief operating decision maker (“CODM”) is its chief executive officer, who reviews financial information presented on a consolidated basis. The CODM uses net income (loss) to assess financial performance and allocate resources. Significant expenses within net income (loss) include cost of revenue, marketing expenses, product development expenses, and selling, general and administrative expenses, which are each separately presented on the Company’s consolidated statements of operations. Other segment items within net income (loss) include reorganization items, net, interest expense, other expense (income), net, and provision for (benefit from) income taxes, as applicable.

The following tables present information about the Company’s revenue and other information by geographic area. There were no material amounts of sales or transfers among geographic areas and no material amounts of U.S. export sales.

 

 

Revenue, net

 

 

 

Successor

 

 

 

Predecessor

 

 

 

Period from

 

 

 

Period from

 

 

 

 

 

 

 

 

 

June 25, 2025

 

 

 

December 29, 2024

 

 

Fiscal Year Ended

 

 

Fiscal Year Ended

 

 

 

through December 31, 2025

 

 

 

through June 24, 2025

 

 

December 28, 2024

 

 

December 30, 2023

 

United States

 

$

242,428

 

 

 

$

254,956

 

 

$

541,973

 

 

$

604,441

 

Germany

 

 

36,011

 

 

 

 

36,887

 

 

 

82,649

 

 

 

97,085

 

Canada

 

 

12,552

 

 

 

 

13,312

 

 

 

29,669

 

 

 

33,756

 

Other

 

 

56,079

 

 

 

 

58,413

 

 

 

131,630

 

 

 

154,269

 

 

 

$

347,070

 

 

 

$

363,568

 

 

$

785,921

 

 

$

889,551

 

 

 

 

Long-Lived Assets

 

 

 

Successor

 

 

 

Predecessor

 

 

 

December 31,

 

 

 

December 28,

 

 

 

2025

 

 

 

2024

 

United States

 

$

7,533

 

 

 

$

15,037

 

Germany

 

 

 

 

 

 

257

 

Canada

 

 

466

 

 

 

 

377

 

Other

 

 

116

 

 

 

 

127

 

 

 

$

8,115

 

 

 

$

15,798

 

 

 

 

Operating Lease Assets

 

 

 

Successor

 

 

 

Predecessor

 

 

 

December 31,

 

 

 

December 28,

 

 

 

2025

 

 

 

2024

 

United States

 

$

1,647

 

 

 

$

39,939

 

Germany

 

 

 

 

 

 

130

 

Canada

 

 

1,286

 

 

 

 

1,622

 

Other

 

 

 

 

 

 

356

 

 

 

$

2,933

 

 

 

$

42,047

 

Historical Timeline

Fiscal YearFiled
2025Mar 16, 2026Showing above
2024Feb 28, 2025
2023Feb 28, 2024
2022Mar 1, 2022
2021Feb 25, 2021
2019Feb 25, 2020
2018Feb 26, 2019
2017Feb 28, 2018
2016Mar 2, 2016

About Segments Disclosures

Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.

Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.