Quarterly report pursuant to Section 13 or 15(d)


9 Months Ended
Oct. 03, 2022
Business Combination and Asset Acquisition [Abstract]  
Acquisitions Acquisitions
On November 3, 2021, the Company acquired 100% of the outstanding common shares and voting interests of Hot Air (the “Anthony’s Acquisition”). The acquisition was accounted for as a business combination using the acquisition method of accounting.

The allocation of the purchase price was based upon preliminary estimates and assumptions and is subject to revision when the Company receives final information. Accordingly, the measurement period for such purchase price allocations will end when the information, or the facts and circumstances, become available, but will not exceed twelve months from the date of acquisition.

During the nine months ended October 3, 2022, we adjusted our preliminary estimate of the fair value of net assets acquired by $0.2 million. The adjustments to the preliminary estimate of net assets acquired resulted in a corresponding increase in estimated goodwill and includes updates to estimates of provisional amounts recorded for certain accruals and receivables as of the Anthony's Closing Date.
The accounting for the Anthony's acquisition is considered provisional because certain aspects of the purchase price allocation including the valuation of accruals have not been finalized.

For the nine months ended September 30, 2021, unaudited proforma revenue and net loss were $124.1 million and $16.1 million.