Snap One (SNPO) 10-Q10 Nov 222022 Q3 Quarterly reportFinancial data

Company Profile

Cover

Cover - shares	9 Months Ended
Cover - shares	Sep. 30, 2022	Nov. 07, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
Document Transition Report	false
Entity File Number	001-40683
Entity Registrant Name	SNAP ONE HOLDINGS CORP.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	82-1952221
Entity Address, Address Line One	1800 Continental Boulevard
Entity Address, Address Line Two	Suite 200
Entity Address, City or Town	Charlotte
Entity Address, State or Province	NC
Entity Address, Postal Zip Code	28273
City Area Code	704
Local Phone Number	927-7620
Title of 12(b) Security	Common stock, par value $.01 per share
Trading Symbol	SNPO
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		75,940,774
Amendment Flag	false
Entity Central Index Key	0001856430
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-30

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 35,543	$ 40,577
Accounts receivable, net	54,171	52,620
Inventories, net	296,624	210,964
Prepaid expenses and other current assets	33,885	35,114
Total current assets	420,223	339,275
Long-term assets:
Property and equipment, net	26,160	22,603
Goodwill	592,910	580,761
Other intangible assets, net	567,907	587,192
Operating lease right-of-use assets	54,133
Other assets	1,733	10,550
Total assets	1,663,066	1,540,381
Current liabilities:
Current maturities of long-term debt	4,650	3,488
Accounts payable	82,121	72,781
Accrued liabilities	82,334	75,517
Current operating lease liability	11,478
Current tax receivable agreement liability	10,191	0
Total current liabilities	190,774	151,786
Long-term liabilities:
Revolving credit facility, net	55,723	0
Long-term debt, net of current portion	446,928	449,256
Deferred income tax liabilities, net	45,733	48,555
Operating lease liability, net of current portion	45,725
Tax receivable agreement liability, net of current portion	102,302	112,406
Other liabilities	21,706	30,103
Total liabilities	908,891	792,106
Commitments and contingencies (Note 15)
Stockholders’ equity:
Common stock, $0.01 par value, 500,000 shares authorized; 74,668 shares issued and outstanding as of September 30, 2022 and 74,427 shares issued and outstanding at December 31, 2021	747	744
Preferred stock, $0.01 par value; 50,000 shares authorized, no shares issued and outstanding	0	0
Additional paid-in capital	842,208	826,718
Accumulated deficit	(83,993)	(79,420)
Accumulated other comprehensive loss	(5,003)	(28)
Company’s stockholders’ equity	753,959	748,014
Noncontrolling interest	216	261
Total stockholders’ equity	754,175	748,275
Total liabilities and stockholders’ equity	$ 1,663,066	$ 1,540,381

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, shares issued (in shares)	74,668,000	74,427,000
Common stock, shares outstanding (in shares)	74,668,000	74,427,000
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	50,000,000	50,000,000
Preferred stock, shares outstanding (in shares)	0	0
Preferred stock, shares issued (in shares)	0	0

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 24, 2021	Sep. 30, 2022	Sep. 24, 2021
Income Statement [Abstract]
Net sales	$ 281,234	$ 260,746	$ 855,573	$ 734,519
Costs and expenses:
Cost of sales, exclusive of depreciation and amortization	167,435	151,281	520,162	432,297
Selling, general and administrative expenses	89,379	105,005	271,300	259,019
Depreciation and amortization	14,812	14,287	44,667	42,197
Total costs and expenses	271,626	270,573	836,129	733,513
Income (loss) from operations	9,608	(9,827)	19,444	1,006
Other expenses (income):
Interest expense	10,244	7,511	24,687	26,589
Other expense (income), net	620	6,931	137	6,422
Total other expenses	10,864	14,442	24,824	33,011
Loss before income taxes	(1,256)	(24,269)	(5,380)	(32,005)
Income tax benefit	(238)	(2,729)	(762)	(3,373)
Net loss	(1,018)	(21,540)	(4,618)	(28,632)
Net loss attributable to noncontrolling interest	(8)	(11)	(45)	(45)
Net loss attributable to Company	$ (1,010)	$ (21,529)	$ (4,573)	$ (28,587)
Net loss per share, basic (in dollars per share)	$ (0.01)	$ (0.31)	$ (0.06)	$ (0.46)
Net loss per share, diluted (in dollars per share)	$ (0.01)	$ (0.31)	$ (0.06)	$ (0.46)
Weighted-average shares outstanding - basic (in shares)	74,650	68,672	74,567	62,369
Weighted-average shares outstanding - diluted (in shares)	74,650	68,672	74,567	62,369

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive (Loss) Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 24, 2021	Sep. 30, 2022	Sep. 24, 2021
Statement of Comprehensive Income [Abstract]
Net loss	$ (1,018)	$ (21,540)	$ (4,618)	$ (28,632)
Other comprehensive loss, net of tax:
Foreign currency translation adjustments	(2,873)	(488)	(4,975)	(508)
Comprehensive loss	(3,891)	(22,028)	(9,593)	(29,140)
Comprehensive loss attributable to noncontrolling interest	(8)	(11)	(45)	(45)
Comprehensive loss attributable to Company	$ (3,883)	$ (22,017)	$ (9,548)	$ (29,095)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders’ Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Accumulated Other Comprehensive Income (Loss)	Noncontrolling Interest
Balance at beginning of period (in shares) at Dec. 25, 2020		59,217,000
Balance at beginning of period at Dec. 25, 2020	$ 617,739	$ 592	$ 659,093	$ (43,018)	$ 756	$ 316
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(6,036)			(6,014)		(22)
Foreign currency translation adjustments	(52)				(52)
Equity-based compensation	1,060		1,060
Balance at end of period (in shares) at Mar. 26, 2021		59,217,000
Balance at end of period at Mar. 26, 2021	612,711	$ 592	660,153	(49,032)	704	294
Balance at beginning of period (in shares) at Dec. 25, 2020		59,217,000
Balance at beginning of period at Dec. 25, 2020	617,739	$ 592	659,093	(43,018)	756	316
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(28,632)
Foreign currency translation adjustments	(508)
Balance at end of period (in shares) at Sep. 24, 2021		74,238,000
Balance at end of period at Sep. 24, 2021	751,483	$ 742	821,827	(71,605)	248	271
Balance at beginning of period (in shares) at Mar. 26, 2021		59,217,000
Balance at beginning of period at Mar. 26, 2021	612,711	$ 592	660,153	(49,032)	704	294
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(1,056)			(1,044)		(12)
Foreign currency translation adjustments	32				32
Equity-based compensation	1,178		1,178
Equity contributions	10,025		10,025
Balance at end of period (in shares) at Jun. 25, 2021		59,217,000
Balance at end of period at Jun. 25, 2021	622,890	$ 592	671,356	(50,076)	736	282
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(21,540)			(21,529)		(11)
Foreign currency translation adjustments	(488)				(488)
Equity-based compensation	14,391		14,391
Issuance of common stock for initial public offering, net of offering costs (in shares)		15,021,000
Issuance of common stock for initial public offering, net of offering costs	249,154	$ 150	249,004
Establishment of income tax receivable liability	(112,681)		(112,681)
Other	(243)		(243)
Balance at end of period (in shares) at Sep. 24, 2021		74,238,000
Balance at end of period at Sep. 24, 2021	$ 751,483	$ 742	821,827	(71,605)	248	271
Balance at beginning of period (in shares) at Dec. 31, 2021	74,427,000	74,427,000
Balance at beginning of period at Dec. 31, 2021	$ 748,275	$ 744	826,718	(79,420)	(28)	261
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(2,256)			(2,236)		(20)
Foreign currency translation adjustments	6				6
Equity-based compensation	5,599		5,599
Issuance of common stock pursuant to equity incentive plans (in shares)		53,000
Issuance of common stock pursuant to equity incentive plans	0	$ 1	(1)
Balance at end of period (in shares) at Apr. 01, 2022		74,480,000
Balance at end of period at Apr. 01, 2022	$ 751,624	$ 745	832,316	(81,656)	(22)	241
Balance at beginning of period (in shares) at Dec. 31, 2021	74,427,000	74,427,000
Balance at beginning of period at Dec. 31, 2021	$ 748,275	$ 744	826,718	(79,420)	(28)	261
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(4,618)
Foreign currency translation adjustments	$ (4,975)
Balance at end of period (in shares) at Sep. 30, 2022	74,668,000	74,668,000
Balance at end of period at Sep. 30, 2022	$ 754,175	$ 747	842,208	(83,993)	(5,003)	216
Balance at beginning of period (in shares) at Apr. 01, 2022		74,480,000
Balance at beginning of period at Apr. 01, 2022	751,624	$ 745	832,316	(81,656)	(22)	241
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(1,344)			(1,327)		(17)
Foreign currency translation adjustments	(2,108)				(2,108)
Equity-based compensation	6,768		6,768
Repurchase and retirement of common stock (in shares)		(94,000)
Repurchase and retirement of common stock	(1,048)	$ (1)	(1,047)
Issuance of common stock pursuant to equity incentive plans (in shares)		227,000
Issuance of common stock pursuant to equity incentive plans	0	$ 2	(2)
Balance at end of period (in shares) at Jul. 01, 2022		74,613,000
Balance at end of period at Jul. 01, 2022	753,892	$ 746	838,035	(82,983)	(2,130)	224
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(1,018)			(1,010)		(8)
Foreign currency translation adjustments	(2,873)				(2,873)	0
Equity-based compensation	5,570		5,570
Repurchase and retirement of common stock (in shares)		(128,000)
Repurchase and retirement of common stock	(1,396)	$ (1)	(1,395)
Issuance of common stock pursuant to equity incentive plans (in shares)		183,000
Issuance of common stock pursuant to equity incentive plans	$ 0	$ 2	(2)
Balance at end of period (in shares) at Sep. 30, 2022	74,668,000	74,668,000
Balance at end of period at Sep. 30, 2022	$ 754,175	$ 747	$ 842,208	$ (83,993)	$ (5,003)	$ 216

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 24, 2021
Cash flows from operating activities:
Net loss	$ (4,618)	$ (28,632)
Adjustments to reconcile net loss to net cash from operating activities:
Depreciation and amortization	44,667	42,197
Amortization of debt issuance costs	1,388	4,208
Write-off of unamortized debt issuance costs	0	6,645
Deferred income taxes	(6,169)	(3,563)
Loss on sale and disposal of property and equipment	81	195
Equity-based compensation	17,937	16,629
Non-cash operating lease expense	9,859	0
Bad debt expense	532	443
Fair value adjustment to contingent value rights	(6,200)	1,200
Valuation adjustment to TRA liability	86	0
Provision for credit losses on notes receivable	5,872	0
Change in operating assets and liabilities:
Accounts receivable	2,117	(4,097)
Inventories	(85,134)	(15,250)
Prepaid expenses and other assets	3,286	(23,959)
Accounts payable, accrued liabilities and operating lease liabilities	935	(7,255)
Net cash used in operating activities	(15,361)	(11,239)
Cash flows from investing activities:
Acquisition of business, net of cash acquired	(30,539)	(26,077)
Purchases of property and equipment	(10,024)	(6,819)
Issuance of notes receivable	(600)	0
Other	75	(429)
Net cash used in investing activities	(41,088)	(33,325)
Cash flows from financing activities:
Payments on long-term debt	(2,325)	(220,992)
Proceeds from revolving credit facility	57,000	0
Proceeds from initial public offering, net of offering costs	0	249,155
Repurchase and retirement of common stock	(2,410)	0
Net cash provided by financing activities	52,265	28,163
Effect of exchange rate changes on cash and cash equivalents	(850)	(466)
Net decrease in cash and cash equivalents	(5,034)	(16,867)
Cash and cash equivalents at beginning of the period	40,577	77,458
Cash and cash equivalents at end of the period	35,543	60,591
Supplementary cash flow information:
Cash paid for interest	14,904	25,069
Cash paid for taxes, net	4,943	265
Noncash investing and financing activities:
Noncash tax receivable agreement liability	0	112,681
Noncash equity contribution	0	10,025
Capital expenditure in accounts payable	$ 613	$ 237

Organization and Description of

Organization and Description of Business	9 Months Ended
Organization and Description of Business	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Description of Business	Organization and Description of Business Snap One Holdings Corp. (referred to herein as “Snap One” or the “Company”) is incorporated in Delaware with its principal executive offices located in Charlotte, North Carolina and Draper, Utah. The Company provides products, services, and software to its network of professional integrators that enable them to deliver smart living experiences for their residential and small business end users. The Company’s hardware and software portfolio includes leading proprietary and third-party offerings across connected, infrastructure, and entertainment categories. Additionally, the Company provides technology-enabled workflow solutions to support the integrator throughout the project lifecycle, enhancing their operations and helping them to profitably grow their businesses. Initial Public Offering — On July 30, 2021, the Company completed its initial public offering (“IPO”) of 13,850 shares of its common stock, and on August 18, 2021, completed the sale of 1,171 shares of additional common stock to the underwriters pursuant to their option to purchase additional shares, at an offering price of $18.00 per share. The Company raised net proceeds of $249,154 through the IPO, after deducting underwriting discounts and other offering costs of $21,219. During the three months and nine months ended September 24, 2021, the Company expensed $1,648 and $4,569 of IPO-related costs. There were no expenses related to the IPO during the three months and nine months ended September 30, 2022. The Company’s registration statement on Form S-1 (File No. 333-257624) relating to its IPO was declared effective by the Securities and Exchange Commission (the “SEC”) on July 27, 2021.

Significant Accounting Policies

Significant Accounting Policies	9 Months Ended
Significant Accounting Policies	Sep. 30, 2022
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies Basis of Presentation — The accompanying condensed consolidated financial statements are unaudited and have been prepared in conformity with generally accepted accounting principles in the United States of America (“GAAP”) for interim financial statements. The condensed consolidated financial statements were prepared on the same basis as the audited consolidated financial statements and, in the opinion of management, reflect all adjustments, consisting of normal recurring adjustments, necessary to present fairly the Company’s financial position, results of operations and cash flows for the periods presented. The condensed consolidated financial statements include the accounts of the Company and all subsidiaries required to be consolidated. All intercompany balances and transactions have been eliminated in the condensed consolidated financial statements. The condensed consolidated balance sheet as of December 31, 2021, has been derived from the audited consolidated financial statements of the Company. The accompanying condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and related notes for the fiscal year ended December 31, 2021, appearing in the Company’s Annual Report on Form 10-K for the annual period ended December 31, 2021, as amended by the Form 10-K/A filed with the Securities and Exchange Commission on April 25, 2022 (as amended, the “Annual Report”). There have been no changes to the Company’s critical accounting estimates and policies or application since the date of the Annual Report except as discussed below. The Company’s fiscal year is the 52- or 53-week period that ends on the last Friday of December. Fiscal year 2022 is a 52-week period, and fiscal year 2021 was a 53-week period. The three months ended September 30, 2022 and September 24, 2021 were 13-week periods, and the nine months ended September 30, 2022 and September 24, 2021 were 39-week periods. Use of Accounting Estimates — The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported and disclosed in the condensed consolidated financial statements and accompanying notes. Accordingly, the actual amounts could differ from those estimates. If actual amounts differ from estimates, revisions are included in the condensed consolidated statements of operations in the period the actual amounts become known. Recent Accounting Pronouncements Pending Adoption — In March 2020, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting (Accounting Standards Codification 848, “ASC 848”) . The amendments in this ASU were put forth in response to the market transition from the London Interbank Offered Rate (“LIBOR”) and other interbank offered rates to alternative reference rates. GAAP requires entities to evaluate whether a contract modification, such as the replacement or change of a reference rate, results in the establishment of a new contract or continuation of an existing contract. ASC 848 allows an entity to elect not to apply certain modification accounting requirements to contracts affected by reference rate reform. In January 2021, the FASB issued ASU 2021-01, Reference Rate Reform (Topic 848) . The objective of the new reference rate reform standard is to clarify the scope of Topic 848 and provide explicit guidance to help companies applying optional expedients and exceptions. The provisions of these updates are only available until December 31, 2022, when the reference rate replacement activity is expected to be completed. The Company’s exposure related to the expected cessation of LIBOR is limited to the interest expense and certain fees it incurs on balances outstanding under its credit facilities. The Company does not expect that there will be a material impact to its financial statements as a result of adopting these ASUs. In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 606): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers , which requires that an entity recognize and measure contract assets and liabilities from contracts with customers in a business combination in accordance with ASC 606 as if it had originated the contracts. The amendment in this update is effective for fiscal years beginning after December 15, 2022, with early adoption permitted. The guidance should be applied prospectively to business combinations occurring on or after the effective date of the amendment in this update. The Company does not expect the adoption of this update to have a material impact to its financial statements. In September 2022, the FASB issued ASU 2022-04, Liabilities- Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations , which requires buyers in a supplier finance program to disclose information related to the key terms of the program and the obligations the buyer has confirmed as valid to the finance provider or intermediary. The buyers are required to disclose obligations outstanding in interim reporting periods. The amendment in this update is effective for fiscal years beginning after December 15, 2022, with early adoption permitted. The Company does not expect the adoption of this update to have a material impact to its financial statements. Recently Adopted Accounting Pronouncements — In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) , which establishes the principles to report transparent and economically neutral information about the assets and liabilities that arise from leases. This new guidance requires lessees to recognize the lease assets and lease liabilities that arise from leases in the statement of financial position and to disclose qualitative and quantitative information about lease transactions, such as information about variable lease payments and options to renew and terminate leases. Recently, the FASB issued ASU 2020-05, which deferred the effective date to fiscal years beginning after December 15, 2021, and interim periods within fiscal years beginning after December 15, 2022. The Company adopted the new leasing standard as of January 1, 2022, using the modified retrospective approach. Therefore, results for reporting periods beginning after January 1, 2022 are presented under Topic 842 , while comparative information has not been restated and continues to be reported under accounting standards in effect for those periods. There was not a cumulative-effect adjustment to accumulated deficit at the beginning of the period of adoption. In adopting the new guidance, the Company elected the package of practical expedients permitted under the transition guidance within the standard, which eliminates the reassessment of whether existing contracts contain leases, lease classification and capitalization of initial direct costs. The Company also elected an accounting policy to not recognize assets or liabilities for leases with a term of less than 12 months, to not separate lease and non-lease components for all asset classes and not elect to use the hindsight practical expedient. The adoption of the new leasing standard resulted in the recognition of approximately $40,906 and $43,862 of right-of-use (“ROU”) assets and lease liabilities, respectively, on the Company’s condensed consolidated balance sheets for its operating lease commitments. The difference between the ROU assets and lease liabilities is primarily attributable to deferred rent and lease incentives. The adoption of the standard did not have a material impact on the Company’s condensed consolidated statements of operations or on the condensed consolidated statements of cash flows. In June 2016, the FASB issued ASU 2016-13, Financial Instruments — Credit Losses . The ASU sets forth a current expected credit loss (“CECL”) model which requires the Company to measure all expected credit losses for financial instruments held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. This replaces the existing incurred loss model and is applicable to the measurement of credit losses on financial assets measured at amortized cost and applies to some off-balance sheet credit exposures. This ASU was effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years, with early adoption permitted. In November 2019, the FASB issued ASU 2019-10 which deferred the effective date to fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The Company early adopted the standard for the fiscal year beginning January 1, 2022. Adoption of the standard did not have a material impact on the condensed consolidated financial statements.

Acquisitions

Acquisitions	9 Months Ended
Acquisitions	Sep. 30, 2022
Business Combination and Asset Acquisition [Abstract]
Acquisitions	Acquisitions All of the Company’s acquisitions have been accounted for under ASC 805, Business Combinations . Accordingly, the accounts of the acquired companies, after adjustments to reflect fair values assigned to assets and liabilities, have been included in the condensed consolidated financial statements from their respective dates of acquisition. The Company records purchase price in excess of amounts allocated to identifiable assets and liabilities as goodwill. Goodwill includes, but is not limited to, the value of the workforce in place, ability to generate profits and cash flows, and an established going concern. Customer relationships have been valued using the multi-period excess earnings method, a derivative of the income approach. The multi-period excess earnings method estimates the discounted net earnings attributable to the customer relationships that were acquired after considering items such as possible customer attrition. Estimated useful lives were determined based on the length and trend of projected cash flows. The length of the projected cash flow period was determined based on the expected attrition of the customer relationships, which is based on the Company’s historical experience in renewing and extending similar customer relationships and future expectations for renewing and extending similar existing customer relationships. The useful life of the customer relationships intangible assets represents the number of years over which the Company expects the customer relationships to economically contribute to the business. The trade name has been valued using the relief from royalty method under the income approach to estimate the cost savings that will accrue to the Company, which would otherwise have to pay royalties or license fees on revenue earned by using the asset. Estimated useful life was determined based on management’s estimate of the period of time the name will be in use. Technology has been valued using the multi-period excess earnings method, a derivative of the income approach. The net earnings attributed to the existing technology considers items such as projected research and development costs expected to be incurred to maintain the technology. Estimated useful life was determined based on the length and trend of projected cash flows after considering items such as the projected research and development expected to be incurred to maintain the technology. Clare Controls, LLC. — On August 8, 2022, the Company entered into a purchase agreement pursuant to which it acquired the assets and specific liabilities of Clare Controls, LLC. (“Clare”), a provider of home automation and security products for whom Snap One has been a distributor since 2019. The Clare acquisition enables Snap One to convert Clare’s product suite into higher-margin proprietary products and drive growth with professional integrators in adjacent markets. The Company agreed to a purchase price of $6,300, consisting of $4,900 cash paid and $1,400 related to the settlement of the pre-existing note receivable from Clare owed to the Company. The Company recorded tangible and intangible assets acquired and liabilities assumed in the transaction according to the acquisition method of accounting, under ASC 805, Business Combinations . The consideration was allocated to the assets acquired and liabilities assumed based on their fair values as of the closing date and are subject to change within the measurement period, which does not exceed twelve months after the closing date. The Company allocated any excess purchase price over the fair value of the net tangible and intangible assets acquired and liabilities assumed to goodwill. The preliminary allocation of the purchase price for the Clare acquisition is as follows: Total purchase consideration $ 6,300 Prepaid expenses $ 263 Property and equipment, net 26 Operating lease right-of-use assets 160 Identifiable intangible assets 4,300 Total identifiable assets acquired 4,749 Accounts payable 533 Accrued liabilities 284 Current operating lease liability 43 Operating lease liability, net of current portion 117 Other liabilities 183 Total liabilities assumed 1,160 Net identifiable assets acquired 3,589 Goodwill 2,711 Net assets acquired $ 6,300 The Company recorded intangible assets related to the Clare acquisition based on estimated fair value, which consisted of the following: Useful Lives Acquired Value Technology 4 $ 3,400 Trade name 6 900 Total intangible assets $ 4,300 The Company recognized $303 of transaction-related expenses, consisting primarily of advisory, legal, and other professional fees related to the Clare acquisition. These transaction-related expenses were incurred by and for the benefit of the Company, and were included in selling, general, and administrative expenses in the condensed consolidated statements of operations. Pro forma financial information related to the Clare acquisition has not been provided as it is not material to the Company’s consolidated results of operations. The results of operations of the Clare acquisition are included in the Company’s consolidated results of operations from the date of acquisition and were not significant for the three months and nine months ended September 30, 2022. Staub Electronics, LTD. — On January 20, 2022, the Company, through its wholly owned subsidiary, Snap One Acquisition Corp., entered into a purchase agreement pursuant to which it acquired the issued and outstanding shares of Staub Electronics, LTD. (“Staub”), a long-time Canadian distribution partner. The Staub acquisition adds two Canadian locations to the Company’s distribution footprint. The Company agreed to a purchase price of $26,395. The Company recorded tangible and intangible assets acquired and liabilities assumed in the transaction according to the acquisition method of accounting, under ASC 805, Business Combinations . The consideration was allocated to the assets acquired and liabilities assumed based on their fair values as of the closing date and are subject to change within the measurement period, which does not exceed twelve months after the closing date. During the measurement period, certain adjustments were recorded to increase goodwill to $9,438 to account for updated working capital calculations. The Company allocated any excess purchase price over the fair value of the net tangible and intangible assets acquired and liabilities assumed to goodwill. The allocation of the purchase price for the Staub acquisition is as follows: Total purchase consideration $ 26,395 Cash and cash equivalents $ 756 Accounts receivable 1,801 Inventory 5,472 Prepaid expenses 1,616 Property and equipment 451 Operating lease right-of-use assets 2,309 Identifiable intangible assets 14,209 Total identifiable assets acquired 26,614 Accounts payable 1,570 Accrued liabilities 2,206 Current operating lease liability 343 Deferred income tax liabilities 3,585 Operating lease liability, net of current portion 1,953 Total liabilities assumed 9,657 Net identifiable assets acquired 16,957 Goodwill 9,438 Net assets acquired $ 26,395 The Company recorded intangible assets related to the Staub acquisition based on estimated fair value, which consisted of the following: Useful Lives Acquired Value Customer relationships 10 $ 12,684 Trade name 6 1,525 Total intangible assets $ 14,209 The Company recognized $328 of transaction-related expenses, consisting primarily of advisory, legal, and other professional fees related to the Staub acquisition. These transaction-related expenses were incurred by and for the benefit of the Company, and were included in selling, general, and administrative expenses in the condensed consolidated statements of operations. Pro forma financial information related to the Staub acquisition has not been provided as it is not material to the Company’s consolidated results of operations. The results of operations of the Staub acquisition are included in the Company’s consolidated results of operations from the date of acquisition and were not significant for the three months and nine months ended September 30, 2022. ANLA, LLC — On May 4, 2021, the Company entered into a purchase agreement pursuant to which it acquired the issued and outstanding shares of ANLA, LLC. (“Access Networks”), an enterprise-grade networking solutions provider offering networking products, design, configuration, monitoring and support services. The acquisition enhances the Company’s networking solutions for residential and commercial networks. The Company agreed to a purchase price of $36,641, consisting of both cash and equity, plus contingent consideration of up to $2,000 based upon the achievement of specified financial targets. The Access Networks acquisition closed on May 28, 2021. The Company recorded tangible and intangible assets acquired and liabilities assumed in the transaction according to the acquisition method of accounting, under ASC 805, Business Combinations . The consideration was allocated to the assets acquired and liabilities assumed based on their fair values as of the closing date. The Company allocated any excess purchase price over the fair value of the net tangible and intangible assets acquired and liabilities assumed to goodwill. Goodwill arising from the Access Networks acquisition primarily consists of synergies from integrating the distribution of products through the Company’s existing distribution channels. The Company may be required to pay additional consideration upon the achievement of a revenue-based earnout. As of the acquisition date, the fair value of the contingent consideration was $2,000. The allocation of the purchase price for the Access Networks acquisition is as follows: Total purchase consideration $ 38,641 Cash and cash equivalents $ 795 Accounts receivable 794 Inventory 2,029 Property and equipment 77 Identifiable intangible assets 17,700 Total identifiable assets acquired 21,395 Accounts payable 1,266 Accrued liabilities 1,218 Other liabilities 586 Deferred income tax liabilities 710 Total liabilities assumed 3,780 Net identifiable assets acquired 17,615 Goodwill 21,026 Net assets acquired $ 38,641 For income tax purposes, a carryover basis in goodwill of $13,616 will be deductible in future periods. The Company recorded intangible assets related to the Access Networks acquisition based on estimated fair value, which consisted of the following: Useful Lives Acquired Value Customer relationships 10 $ 14,400 Trade name 6 3,300 Total intangible assets $ 17,700 Other liabilities assumed consisted primarily of warranty reserves and deferred revenue. The long-term warranty reserves are primarily based on historical failure rates, costs to repair or replace the product, and any necessary shipping costs, which are considered to approximate the fair value of the remaining obligation. Deferred revenue was recorded at fair value, resulting in a cumulative balance for the Access Networks acquisition of $883 in accrued liabilities and $586 in other liabilities. The Company recognized $197 of transaction-related expenses, consisting primarily of advisory, legal, and other professional fees related to the Access Networks acquisition. These transaction-related expenses were incurred by and for the benefit of the Company, and were included in selling, general, and administrative expenses in the condensed consolidated statements of operations. Pro forma financial information related to the Access Networks acquisition has not been provided as it is not material to the Company’s consolidated results of operations. The results of operations of the Access Networks acquisition are included in the Company’s consolidated results of operations from the date of acquisition and were not significant for the three months and nine months ended September 24, 2021.

Revenue and Geographic Informat

Revenue and Geographic Information	9 Months Ended
Revenue and Geographic Information	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenue and Geographic Information	Revenue and Geographic Information Contract Balances — Amounts invoiced in advance of revenue recognition are recorded as deferred revenue on the condensed consolidated balance sheets. Deferred revenue primarily relates to unspecified software updates and upgrades, hosting, technical support, marketing incentive programs, and subscription services. The following table represents the changes in deferred revenue for the nine months ended September 30, 2022 and September 24, 2021: Nine Months Ended September 30, September 24, Deferred revenue – beginning of period $ 33,385 $ 30,466 Amounts billed, but not recognized 25,809 20,971 Recognition of revenue (24,641) (20,168) Deferred revenue acquired 218 1,469 Deferred revenue – end of period $ 34,771 $ 32,738 The Company recorded deferred revenue of $22,121 in accrued liabilities and $12,650 in other liabilities as of September 30, 2022. The Company recorded deferred revenue of $20,944 in accrued liabilities and $12,441 in other liabilities as of December 31, 2021. Disaggregation of Revenue — The following table sets forth revenue by geography between the United States and all geographies outside of the United States for the three months and nine months ended September 30, 2022 and September 24, 2021: Three Months Ended Nine Months Ended September 30, September 24, September 30, September 24, United States integrators (a) $ 230,173 $ 208,524 $ 694,254 $ 603,713 United States other (b) 14,940 19,037 46,107 41,746 International (c) 36,121 33,185 115,212 89,060 Total $ 281,234 $ 260,746 $ 855,573 $ 734,519 (a) United States integrators is defined as professional “do-it-for-me” integrator customers who transact with Snap One through a traditional integrator channel and excludes the impact of recently acquired businesses domestically, specifically Access Networks. (b) United States other is defined as recently acquired entities, specifically Access Networks, and revenue generated through managed transactions with non-integrator customers, such as national accounts. (c) International consists of all integrators and distributors who transact with Snap One outside of the United States. The following table sets forth revenue by product type between proprietary products and third-party products for the three months and nine months ended September 30, 2022 and September 24, 2021: Three Months Ended Nine Months Ended September 30, September 24, September 30, September 24, Proprietary products (a) $ 192,172 $ 184,640 $ 588,165 $ 517,095 Third-party products (b) 89,062 76,106 267,408 217,424 Total $ 281,234 $ 260,746 $ 855,573 $ 734,519 (a) Proprietary products consist of products and services internally developed by Snap One and sold under one of Snap One’s proprietary brands. (b) Third-party products consist of products that Snap One distributes but to which Snap One does not own the intellectual property. Additionally, the Company’s revenue includes amounts recognized over time and at a point in time, and are as follows for the three months and nine months ended September 30, 2022 and September 24, 2021: Three Months Ended Nine Months Ended September 30, September 24, September 30, September 24, Products transferred at a point in time $ 271,500 $ 254,170 $ 830,932 $ 714,351 Services transferred over time 9,734 6,576 24,641 20,168 Total $ 281,234 $ 260,746 $ 855,573 $ 734,519 As of September 30, 2022 and December 31, 2021, the Company’s accounts receivable, net consisted of the following: September 30, December 31, Accounts receivable $ 56,553 $ 55,088 Allowance for doubtful accounts (2,382) (2,468) Accounts receivable, net $ 54,171 $ 52,620

Inventories, Net

Inventories, Net	9 Months Ended
Inventories, Net	Sep. 30, 2022
Inventory Disclosure [Abstract]
Inventories, Net	Inventories, Net As of September 30, 2022 and December 31, 2021, the Company’s inventory consisted of the following: September 30, December 31, Finished goods $ 293,846 $ 210,540 Raw materials 15,466 10,454 Work in process 422 548 Reserve for obsolete and slow-moving inventory (13,110) (10,578) Total inventories, net $ 296,624 $ 210,964

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets, Net	9 Months Ended
Goodwill and Other Intangible Assets, Net	Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets, Net	Goodwill and Other Intangible Assets, Net Goodwill as of September 30, 2022 and December 31, 2021, was $592,910 and $580,761, respectively. Goodwill increased by $12,149 in 2022 due to the acquisitions of Staub and Clare. During the year ended December 31, 2021, goodwill increased by $21,026 due to the acquisition of Access Networks. See Note 3 for more information regarding Staub, Clare and Access Networks. As of September 30, 2022 and December 31, 2021, other intangible assets, net, consisted of the following: September 30, 2022 Estimated Gross Carrying Accumulated Net Carrying Customer relationships 5 – 25 years $ 521,846 $ (116,889) $ 404,957 Technology 4 – 15 years 98,478 (50,224) 48,254 Trade names – definite 2 – 10 years 60,085 (21,953) 38,132 Trade names – indefinite indefinite 76,564 — 76,564 Total intangible assets $ 756,973 $ (189,066) $ 567,907 December 31, 2021 Estimated Gross Carrying Accumulated Net Carrying Customer relationships 5 – 25 years $ 509,162 $ (96,149) $ 413,013 Technology 4 – 15 years 95,078 (38,221) 56,857 Trade names – definite 2 – 10 years 57,660 (16,902) 40,758 Trade names – indefinite indefinite 76,564 — 76,564 Total intangible assets $ 738,464 $ (151,272) $ 587,192 Total amortization expense for intangible assets for the three months ended September 30, 2022, and September 24, 2021, was $12,536 and $12,293, respectively. Total amortization expense for intangible assets for the nine months ended September 30, 2022 and September 24, 2021 was $37,794 and $36,260, respectively. The weighted-average useful life remaining for amortizing definite lived intangible assets was approximately 14.6 years as of September 30, 2022. As of September 30, 2022, the estimated amortization expense for intangible assets for the next five fiscal years and thereafter are as follows: Remainder of 2022 $ 12,467 2023 49,705 2024 43,204 2025 35,588 2026 35,233 2027 and thereafter 315,146 Total $ 491,343

Debt Agreements

Debt Agreements	9 Months Ended
Debt Agreements	Sep. 30, 2022
Debt Disclosure [Abstract]
Debt Agreements	Debt AgreementsOn August 4, 2017, the Company’s wholly owned subsidiary, Wirepath, LLC (“Borrower”) entered into a credit agreement (as amended from time to time, “Old Credit Agreement”), consisting of a senior secured term loan (“Initial Term Loan”) and a senior secured revolving credit facility (“Old Revolving Credit Facility”). On February 5, 2018, the Borrower repriced the Old Credit Agreement to reduce the margin on the Initial Term Loan and Old Revolving Credit Facility. On October 31, 2018, the Borrower repriced the Initial Term Loan facility to further reduce the margin under the Initial Term Loan, increased the aggregate amount of the Initial Term Loan, and further reduced the margin under the Old Revolving Credit Facility. On August 1, 2019, the Borrower amended the Old Credit Agreement to borrow an additional senior secured term loan (“Old Incremental Term Loan” and, together with the Initial Term Loan, as amended, “Old Term Loans”) and increased the commitments under the Old Revolving Credit Facility. The Company made fixed equal quarterly installments on the Old Term Loans in an amount equal to 1.00% per annum of the total aggregate principal thereof immediately after borrowing, with balance due at maturity. On August 4, 2021, the Company used a portion of the net proceeds from the IPO to prepay $216,902 in aggregate of the amount of the Old Incremental Term Loan outstanding under the Old Credit Agreement. The prepayment consisted of $215,874 in principal plus accrued interest of $1,028. In connection with the prepayment, the Company incurred a charge of $6,645 related to the write-off of the proportionate amount of the unamortized debt issuance costs at the time of the prepayment which was recorded in loss on extinguishment of debt on the Company’s condensed consolidated statement of operations. The unamortized debt issuance costs are allocated between the remaining original loan balance and the portion of the loan paid down on a pro-rata basis. On December 8, 2021, the Company entered into a Credit Agreement (the “Credit Agreement”) with various financial institutions consisting of a $465,000 in aggregate principal amount of senior secured term loans maturing in seven years (the “New Term Loan”) and a $100,000 senior secured revolving credit facility (which includes borrowing capacity available for letters of credit) maturing in five years (the “New Revolving Credit Facility”). In connection with the closing of the Credit Agreement, the Company repaid in full approximately $451,400 of borrowings, including accrued interest, under the Old Credit Agreement. The Old Term Loans and Old Revolving Credit Facility and related agreements and documents under the Old Credit Agreement were terminated upon the effectiveness of the Credit Agreement. Borrowings under the New Term Loan will bear interest at a rate per annum equal to, at the Company’s option, either (1) an applicable margin plus a base rate determined by reference to the highest of (a) 0.50% per annum plus the federal funds effective rate, (b) the prime rate and (c) the eurocurrency rate determined by reference to the cost of funds for U.S. dollar deposits for an interest period of one month adjusted for certain additional costs, plus 1.00%; provided that such rate is not lower than a floor of 1.50% or (2) an applicable margin plus a eurocurrency rate determined by reference to the cost of funds for U.S. dollar deposits for the interest period relevant to such borrowing adjusted for certain additional costs; provided that such rate is not lower than a floor of 0.50%. Borrowings under the New Revolving Credit Facility will bear interest at a rate per annum equal to an applicable margin based upon a leverage-based pricing grid, plus, at the Company’s option, either (1) a base rate determined by reference to the highest of (a) 0.50% per annum plus the federal funds effective rate, (b) the prime rate and (c) the eurocurrency rate determined by reference to the cost of funds adjusted for certain additional costs, plus 1.00%; provided such rate is not lower than a floor of 1.00% or (2) a eurocurrency rate determined by reference to the applicable cost of funds for such borrowing adjusted for certain additional costs; provided such rate is not lower than a floor of zero. As of September 30, 2022, the weighted-average interest rate of borrowings under the Credit Agreement was 7.32%. The New Term Loan amortizes in fixed equal quarterly installments in an amount equal to 1.0% per annum of the total aggregate principal amount thereof immediately after borrowing, with the balance due at maturity. The Company may voluntarily prepay loans or reduce commitments under the Credit Agreement, in whole or in part, subject to minimum amounts, with prior notice but without premium or penalty (subject to customary exceptions). The principal amounts outstanding under the Credit Agreement as of September 30, 2022 and December 31, 2021 were as follows: Instrument Maturity Date September 30, 2022 December 31, 2021 Credit Agreement New Term Loan December 8, 2028 $ 462,675 $ 465,000 New Revolving Credit Facility December 8, 2026 $ 57,000 $ — The Company may also be required to make additional payments under the financing agreement equal to a percentage of the Company’s annual excess cash flows or net proceeds from any non-ordinary course asset sales or certain debt issuances, if any. The lender has the option to decline the prepayment. As of September 30, 2022, the Company had $57,000 outstanding under the New Revolving Credit Facility. As of December 31, 2021, the Company had no borrowings outstanding under the New Revolving Credit Facility. As of September 30, 2022 and December 31, 2021, the Company had $5,060 and $4,894 of outstanding letters of credit. The amount available under the New Revolving Credit Facility was $37,940 and $95,106 as of September 30, 2022, and December 31, 2021, respectively. As of September 30, 2022, the future scheduled maturities of the above notes payable are as follows: Remainder of 2022 $ 1,162 2023 4,650 2024 3,488 2025 4,650 2026 61,650 2027 5,813 Thereafter 438,262 Total future maturities of debt 519,675 Unamortized debt issuance costs (12,374) Total indebtedness 507,301 Less: Current maturities of long-term debt 4,650 Long-term debt and revolving credit facility $ 502,651 Unamortized costs related to the issuance of the New Term Loan were $11,097 and $12,256 as of September 30, 2022 and December 31, 2021, and were presented as a direct deduction from the carrying amount of long-term debt. Unamortized costs related to the issuance of the New Revolving Credit Facility were $1,277 as of September 30, 2022 and were presented as a direct deduction from the carrying amount of the revolving credit facility. As of December 31, 2021, unamortized costs related to the issuance of the New Revolving Credit Facility were $1,506 and were included in other assets. The costs related to debt issuances are amortized to interest expense over the life of the related debt. As of September 30, 2022, the future amortization of debt issuance costs was as follows: Remainder of 2022 $ 470 2023 1,925 2024 1,993 2025 2,066 2026 2,123 2027 1,918 Thereafter 1,879 Total $ 12,374 Debt Covenants and Default Provisions — There have been no changes to the debt covenants or default provisions related to the Company’s outstanding debt arrangements or other obligations during the current year. The Company was in compliance with all debt covenants as of September 30, 2022 and December 31, 2021. For additional information on the Company’s debt arrangements, debt covenants and default provisions, see Note 8 of the Notes to the Consolidated Financial Statements for the year ended December 31, 2021, in the Annual Report.

Fair Value Measurement

Fair Value Measurement	9 Months Ended
Fair Value Measurement	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurement	Fair Value Measurement Fair Value of Financial Instruments — The fair values and related carrying values of financial instruments that are not required to be remeasured at fair value on the condensed consolidated statements of operations were as follows: As of September 30, 2022 As of December 31, 2021 Carrying Amount Fair Value Carrying Amount Fair Value Assets Notes receivable, net $ 75 $ 75 $ 6,484 $ 6,764 Liabilities New Term Loan $ 462,675 $ 421,034 $ 465,000 $ 462,675 The fair values of notes receivable are estimated using a discounted cash flow analysis using interest rates currently offered for loans with similar credit quality which represent Level 2 inputs, and are included in other assets and other current assets on the balance sheet. The fair value of long-term debt was established using current market rates for similar instruments traded in secondary markets representing Level 2 inputs. The fair value of the Revolving Credit Facility approximates carrying value as the related interest rates approximate the Company’s incremental borrowing rate for similar obligations. Additionally, cash and cash equivalents, accounts receivable, net, prepaid expenses, accounts payable, and accrued liabilities are classified as Level 1 and the carrying value of these assets and liabilities approximates the fair value due to the short-term nature of these financial instruments. Notes Receivable — During the three months ended September 30, 2022, the Company acquired Clare, which had an outstanding unsecured loan with the Company. The Company recorded a provision for credit loss of $5,872 on the unsecured loan from Clare during the three months ended July 1, 2022. At the acquisition date, the Company settled the notes receivable for $1,400 as part of the transaction. See Note 3 for more information regarding the Clare acquisition. Assets and Liabilities that are Measured at Fair Value on a Recurring Basis — The Company utilizes a Monte Carlo simulation in an option pricing framework, where a range of possible scenarios are simulated, in order to determine the fair value of the contingent value rights (“CVRs”). Any future increase in the fair value of the CVR obligations, based on an increased likelihood that the underlying milestones will be achieved, and the associated payment or payments will, therefore, become due and payable, will result in a charge to selling, general and administrative expenses in the period in which the increase is determined. Similarly, any future decrease in the fair value of the CVR obligations will result in a reduction in selling, general and administrative expenses. CVR liabilities are categorized as other liabilities in the accompanying condensed consolidated balance sheets and are classified as Level 3. Fair value at September 30, 2022 Valuation Technique Unobservable Input Volatility Contingent Value Rights $2,700 Monte Carlo Volatility 40 and 55% Changes in the CVRs for the nine months ended September 30, 2022 and September 24, 2021 were as follows: September 30, September 24, CVR fair value – beginning of period $ 8,900 $ 4,000 Fair value adjustments (6,200) 1,200 CVR fair value – end of period $ 2,700 $ 5,200 The fair value of the contingent consideration liability related to the Access Networks acquisition was based on unobservable inputs, including management estimates and assumptions about future revenues, and is, therefore, classified as Level 3. The fair value of the contingent consideration was $2,000 as of September 30, 2022 and recorded in other current liabilities in the accompanying condensed consolidated balance sheet. There were no transfers into or out of Level 3 during the three months and nine months ended September 30, 2022 or September 24, 2021.

Accrued Liabilities

Accrued Liabilities	9 Months Ended
Accrued Liabilities	Sep. 30, 2022
Payables and Accruals [Abstract]
Accrued Liabilities	Accrued Liabilities Accrued liabilities as of September 30, 2022 and December 31, 2021, consisted of the following: September 30, December 31, Deferred revenue $ 22,121 $ 20,944 Payroll, vacation, and bonus accruals 16,810 21,340 Warranty reserve 11,870 14,549 Interest payable 10,070 1,523 Customer rebate program 5,065 4,775 Sales return allowance 4,866 3,999 Contingent consideration 2,000 — Incurred but not reported self-insurance 1,820 1,556 ESPP contribution accrual 805 — Taxes 736 1,774 Other accrued liabilities 6,171 5,057 Total accrued liabilities $ 82,334 $ 75,517

Warranties

Warranties	9 Months Ended
Warranties	Sep. 30, 2022
Guarantees and Product Warranties [Abstract]
Warranties	Warranties Changes in the Company’s accrued warranty liability for the nine months ended September 30, 2022 and September 24, 2021 were as follows: September 30, September 24, Accrued warranty – beginning of period $ 18,772 $ 16,523 Warranty claims (9,211) (9,199) Warranty provisions 6,625 11,873 Accrued warranty – end of period $ 16,186 $ 19,197 As of September 30, 2022, the Company has recorded accrued warranty liabilities of $11,870 in accrued liabilities and $4,316 in other liabilities in the accompanying condensed consolidated balance sheet. As of December 31, 2021, the Company has recorded accrued warranty liabilities of $14,549 in accrued liabilities and $4,223 in other liabi lities.

Retirement Plan

Retirement Plan	9 Months Ended
Retirement Plan	Sep. 30, 2022
Retirement Benefits [Abstract]
Retirement Plan	Retirement PlanThe Company has a 401(k) plan

Equity Agreements and Incentive

Equity Agreements and Incentive Equity Plans	9 Months Ended
Equity Agreements and Incentive Equity Plans	Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]
Equity Agreements and Incentive Equity Plans	Equity Agreements and Incentive Equity Plans Former Parent Incentive Plan — In October 2017, the Former Parent Entity approved the Class B Unit Incentive Plan (the “2017 Plan”) pursuant to the Company’s partnership agreement. Class B-1 Incentive Units (“B-1 Units”) issued under the 2017 Plan vest in installments over a five-year period, subject to the grantee’s continued employment or service. Class B-2 Incentive Units (“B-2 Units” and collectively with the B-1 Units, “Incentive Units”) issued under the 2017 Plan contain both service conditions consistent with the B-1 Units and market-based vesting conditions that require the achievement of a specified return hurdle to the controlling shareholders in order to vest. Prior to the modification of the Incentive Units in connection with the Company’s IPO on July 27, 2021, the Company recognized $367 and $2,605 of compensation expense related to the Incentive Units within selling, general and administrative expenses in the accompanying condensed consolidated statements of operations during the three months and nine months ended September 24, 2021. 2021 Incentive Plan — On July 16, 2021, the Company adopted the 2021 Equity Incentive Plan (the “2021 Plan”) in order to provide a means through which to attract, retain, and motivate key personnel. Awards available for grant under the 2021 Plan include non-qualified and incentive stock options, restricted shares of our common stock, and other equity-based awards tied to the value of our common stock and cash-based awards. Equity Award Conversion — During the year ended December 31, 2021, and in connection with the IPO, all outstanding unvested Incentive Units were replaced with newly issued shares of our restricted common stock. Vested Incentive Units were exchanged into shares of our common stock using the same formula as unvested Incentive Units (together, the “Equity Award Conversion”). The restricted shares of common stock that the holders received in exchange for their unvested B-1 Units are subject to the same vesting terms that applied to the B-1 Units prior to the Equity Award Conversion. The restricted stock awards issued to replace B-2 Units vest based upon achievement of one or more hurdles, which are substantially the same as the previous market-condition vesting criteria of the B-2 Units. Although the restricted stock awards that replace the B-2 Units do not contain an explicit service condition, the vesting is subject to continued employment, resulting in a derived service period. For additional information on the Equity Award Conversion, see Note 13 of the Notes to the Consolidated Financial Statements for the year ended December 31, 2021, in the Annual Report. Restricted Stock Awards In connection with the IPO, the Company issued restricted common stock to holders of unvested B-1 Units and B-2 Units. The grant date fair value of restricted stock awards was determined to be $18.00 per share, based on the initial listing price of the Company’s common stock on the grant date. The summary of the Company’s restricted stock awards activity is as follows: Restricted Stock Awards B-1 Incentive Units B-2 Incentive Units Number of Weighted- Average Grant-Date Fair Value Number of Weighted- Average Grant-Date Fair Value Outstanding at December 31, 2021 633 $ 18.00 807 $ 18.00 Granted — — — — Vested 245 18.00 — — Forfeited 13 18.00 — — Outstanding at September 30, 2022 375 $ 18.00 807 $ 18.00 Stock Options In connection with the IPO, the Company granted options to holders of B-1 Units (“Time-based Options”) and options to holders of B-2 Units (“Market-based Options” and collectively with the Time-based Options, “Leverage Replacement Options”), as further discussed in Note 13 of the Notes to the Consolidated Financial Statements for the year ended December 31, 2021, in the Annual Report. The summary of the Company’s option activity is as follows: Time-based Options Market-based Options Number of Weighted- Average Grant-Date Fair Value Aggregate Intrinsic Value (a) Number of Weighted- Average Grant-Date Fair Value Aggregate Intrinsic Value (a) Outstanding at December 31, 2021 4,393 $ 6.49 $ 13,532 1,155 $ 5.66 $ 3,558 Granted — — — — — — Exercised — — — — — — Forfeited 102 7.14 — — — — Outstanding at September 30, 2022 4,291 $ 6.47 $ — 1,155 $ 5.66 $ — Options exercisable at September 30, 2022 2,940 $ 6.19 $ — — $ — $ — (a) The intrinsic value represents the amount by which the fair value of the Company’s stock exceeds the option exercise price as of September 30, 2022. Restricted Stock Units — The Company grants restricted stock units (“RSUs”) with time-based vesting requirements under the 2021 Plan. These RSUs typically have an initial annual cliff vest and then vest quarterly over the remaining service period, which is generally one The summary of the Company’s RSU activity is as follows: Restricted Stock Units Number of Weighted-Average Grant-Date Fair Value Outstanding at December 31, 2021 390 $ 18.22 Granted 1,267 17.11 Vested 209 18.08 Forfeited 64 19.66 Outstanding at September 30, 2022 1,384 $ 17.16 Performance Stock Units — During the nine months ended September 30, 2022, the Company granted performance-based restricted stock units (“PSUs”) to certain employees under the 2021 Plan. The fair value of PSUs granted is based on the Company’s closing stock price on the date of grant. Each PSU grant vests in annual tranches over a three-year service period. Total units earned for grants may vary between 0% and 200% of the units granted based on the attainment of net sales and company-specific adjusted EBITDA targets during the performance period (generally the fiscal year of the date of the grant) and upon continued service. Compensation expense for PSUs is recognized on a graded-vesting basis if it is probable that the performance conditions will be achieved. Adjustments to compensation expense are made each period based on changes in our estimate of the number of PSUs that are probable of vesting. PSUs will vest with continued service and upon achievement of the relevant performance targets. The summary of the Company’s PSU activity is as follows: Performance Stock Units Number of Weighted-Average Grant-Date Fair Value Outstanding at December 31, 2021 — $ — Granted 439 19.01 Exercised — — Forfeited 2 20.46 Outstanding at September 30, 2022 437 $ 19.01 Other equity-based compensation — In connection with the Staub acquisition (see Note 3), the Company granted 69 shares of common stock with an aggregate fair value of $1,208 to a key executive. The shares are accounted for as equity-based compensation because the shares are subject to forfeiture based on post-acquisition time-based service vesting. The shares vest annually in equal installments over a three-year service period beginning on the acquisition date. The grant date fair value of the shares was determined to be $17.42 per share based on the Company’s closing stock price on the date of the grant. Total equity-based compensation expense — Equity-based compensation expense is included within selling, general and administrative expenses in the accompanying condensed consolidated statements of operations. For all equity-based compensation awards, the Company recognizes forfeitures as they occur. Compensation expense for the three months and nine months ended September 30, 2022 and September 24, 2021, and unrecognized stock compensation expense and weighted average remaining expense period as of September 30, 2022 consisted of: Compensation Expense September 30, 2022 Three Months Ended Nine Months Ended September 30, September 24, September 30, September 24, Unrecognized Compensation Expense Weighted-Average Remaining Contractual Term (Years) 2017 Plan Incentive Units $ — $ 367 $ — $ 2,605 $ — — 2021 Plan Restricted stock awards 1,082 735 3,390 735 5,254 1.33 Time-based options 1,672 12,278 5,077 12,278 8,891 1.97 Market-based options 645 418 1,935 418 3,489 1.35 Restricted stock units 1,726 593 5,132 593 20,714 3.27 Performance stock units 165 — 1,864 — 3,821 1.59 Other equity-based compensation 100 — 279 — 929 2.30 Total $ 5,390 $ 14,391 $ 17,677 $ 16,629 $ 43,098 1.99 Employee Stock Purchase Plan — The Company’s board of directors adopted, and its shareholders approved, the Snap One Holdings Corp. 2022 Employee Stock Purchase Plan (the “ESPP”). The ESPP initially reserves 750 shares for issuance, which is subject to increase on the first day of each fiscal year in an amount equal to the lesser of: (i) the positive difference, if any, between (x) 1% of the outstanding common stock of the Company on the last day of the immediately preceding fiscal year and (y) the available plan reserve on the last day of the immediately preceding fiscal year and (ii) a lower number of shares of our common stock as determined by the board. The number of shares available for issuance under the ESPP is subject to adjustment for certain changes in our capitalization. Under the ESPP, shares of common stock may be purchased by eligible participants during defined purchase periods at 85% of the lesser of the closing price of the Company’s common stock on the first day or last day of each purchase period. The Company implemented the ESPP with the first purchase period beginning on May 23, 2022 and ending on November 22, 2022. The Company used a Black-Scholes option pricing model to value the common stock purchased as part of the Company's ESPP. The fair value estimated by the option pricing model is affected by the price of the common stock as well as subjective variables that include assumed interest rates, our expected dividend yield, and our expected share volatility over the term of the award. Fair value inputs for the purchase period in 2022 included assumed risk-free interest rate of 1.6%, expected volatility of 45%, and expected dividend yield of 0%. Eligible participants contributed $805 as of September 30, 2022, which is included in accrued liabilities in the accompanying condensed consolidated balance sheet. The Company recorded compensation expense of $180 and $260, which is included in selling, general and administrative expenses in the accompanying condensed consolidated statements of operations for the three months and nine months ended September 30, 2022. Unrecognized compensation expense as of September 30, 2022 associated with the remaining ESPP purchase period through November 22, 2022 was $108. Control4 Equity Awards — In connection with the acquisition of Control4 Corporation (“Control4”) in 2019, the Company agreed to a settlement of Control4 equity awards that were outstanding immediately prior to the acquisition date, consisting of stock options and restricted stock units. As of the acquisition date, 2,998 shares of Control4 awards were cancelled and converted into rights to receive cash payments (“Replacement Awards”). The Company had no compensation expense related to the Replacement Awards during the three months ended September 30, 2022. The Company recognized $294 of compensation expense relating to the Replacement Awards within selling, general and administrative expenses in the accompanying condensed consolidated statement of operations during the nine months ended September 30, 2022. The Company recognized $890 and $3,434 of compensation expense relating to the Replacement Awards within selling, general and administrative expenses in the accompanying condensed consolidated statement of operations during the three months and nine months ended September 24, 2021. As of September 30, 2022, all Replacement Awards have vested, and the related expense has been recognized.

Income Taxes

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The effective income tax rate for the Company was a benefit of 18.9% and 14.2% for the three months and nine months ended September 30, 2022, as compared to a benefit of 11.3% and 10.6% for the three months and nine months ended September 24, 2021. The change in the effective tax rate for the three months and nine months ended September 30, 2022, and the difference from the U.S. federal statutory rate of 21%, were primarily the result of allocation of income between jurisdictions, a benefit from R&D tax credits, a change in the state deferred rate and an expense related to vesting of restricted stock units. Income tax benefit was $238 and $762 during the three months and nine months ended September 30, 2022, compared to a benefit of $2,729 and $3,373 during the three months and nine months ended September 24, 2021.

Tax Receivable Agreement

Tax Receivable Agreement	9 Months Ended
Tax Receivable Agreement	Sep. 30, 2022
Tax Receivable Agreement [Abstract]
Tax Receivable Agreement	Tax Receivable Agreement On July 29, 2021, the Company executed a Tax Receivable Agreement (“TRA”) with certain pre-IPO owners (“TRA Participants”). The TRA provides for payment by the Company to the TRA Participants of 85% of the amount of cash savings, if any, in U.S. federal, state and local income tax that the Company utilizes in the future from net operating losses and certain other tax benefits that arose prior to the IPO. The Company recognizes this contingent liability in its condensed consolidated financial statements when incurrence of the liability becomes probable and amounts are reasonably estimable. Subsequent changes to the measurement of the TRA liability are recognized in the condensed consolidated statement of operations as a component of other (expense) income, net. The Company will retain the benefit of the remaining 15% of these cash tax savings. Payments under the TRA will not begin until after the filing of the Company’s 2021 federal tax return. If the Company does not have taxable income (before considering deductions that are subject to the TRA), it is not required (absent circumstances requiring an early termination payment, other acceleration of its obligations under the TRA or a change of control) to make payments under the TRA for that taxable year because no cash tax savings will have been realized. However, unutilized deductions that do not result in realized benefits in a given tax year as a result of insufficient taxable income may be applied to taxable income in future years and accordingly would impact the amount of cash tax savings in such future years and the amount of corresponding payments under the TRA in such future years. Upon the closing of the IPO, the Company recognized a non-current liability, which represented undiscounted aggregate payments that it expects to pay the TRA Participants under the TRA, with an offset to additional paid-in capital. Subsequent changes in the measurement of the liability will be adjusted through the condensed consolidated statement of operations. The TRA liability is an estimate and estimating the amount of payments that may be made under the TRA is by its nature imprecise, insofar as the calculation of amounts payable depends on a variety of factors. The amount and timing of any payments under the TRA will vary depending upon a number of factors, including the amount, character and timing of the Company’s income. TRA payments are anticipated to be made 125 days after filing the federal tax return. As of September 30, 2022, the Company recognized a total liability of $112,493, of which $10,191 and $102,302 are recorded within the current and noncurrent tax receivable liability financial statement line items, respectively. As of December 31, 2021, the Company recognized a total liability of $112,406, which was recorded within the noncurrent tax receivable liability financial statement line item. For the three months and nine months ended September 30, 2022, the Company recognized measurement adjustments of $86, which were recognized in other income on the condensed consolidated statements of operations. With respect to certain pre-IPO owners that are not TRA Participants, the Company paid $13,210 with cash on hand for their interests in lieu of their participation in the TRA. Approximately $2,754 of the cash payments to pre-IPO owners are subject to vesting requirements and are held in escrow until vested. The cash payments held in escrow are included in the condensed consolidated balance sheet in prepaid expenses and other current assets and are expensed over the requisite service period. The remaining $10,456 of the cash payments were expensed and paid or accrued in conjunction with the closing of the IPO. In total, $10,925 was recorded as compensation expense within selling, general and administrative expenses as disclosed in the consolidated statement of operations included in the Annual Report for the year ended December 31, 2021. During the three months and nine months ended September 30, 2022, the Company recorded $279 and $837 in compensation expense within selling, general and administrative expenses in the accompanying condensed consolidated statement of operations. In total, $10,641 was recorded as compensation expense recorded by the Company for the three months and nine months ended September 24, 2021.

Commitment and Contingencies

Commitment and Contingencies	9 Months Ended
Commitment and Contingencies	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Legal Proceedings — During the normal course of business, the Company is occasionally involved with various claims and litigation. Reserves are established in connection with such matters when a loss is probable, and the amount of such loss can be reasonably estimated. As of September 30, 2022 and December 31, 2021, no significant reserves were recorded. The determination of probability and the estimation of the actual amount of any such loss are inherently unpredictable, and it is therefore possible that the eventual outcome of such claims and litigation could exceed the estimated reserves, if any. However, the Company does not expect the outcome of the matters currently pending will have a material adverse effect on the condensed consolidated financial statements.

Leases

Leases	9 Months Ended
Leases	Sep. 30, 2022
Leases [Abstract]
Leases	Leases The Company determines if an arrangement is a lease or contains a lease at inception. For all leases with a term longer than 12 months, operating leases are recorded under the noncurrent asset operating lease financial statement line item and the current and noncurrent operating lease liability financial statement line items on our condensed consolidated balance sheets. The Company has lease agreements with lease and non-lease components, which the Company has elected to account for as a single lease component for all asset classes. Lease expense is recognized on a straight-line basis over the lease term. ROU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. Since most of the Company’s leases do not provide an implicit rate, the Company uses its own incremental borrowing rate (“IBR”) on a collateralized basis in determining the present value of lease payments. The Company utilizes a market-based approach to estimate the IBR. The Company’s lease arrangements primarily consist of operating leases for offices, warehouse space, and distribution centers. The leases have remaining lease terms of 1 year to 10 years, some of which include options to extend for up to an additional 5 years, and some of which include options to terminate prior to completion of the contractual lease term with or without penalties. The Company’s lease term only includes periods covered by options if those options are reasonably certain of being exercised (or not reasonably certain of being exercised as it relates to termination options). Variable lease payments that depend on an index or rate (such as the Consumer Price Index or a market interest rate) are included in the measurement of ROU assets and lease liabilities using the index or rate at the commencement date. Variable payments, other than those dependent upon an index or rate, are excluded from the measurement of the ROU assets and lease liabilities and are recognized in the period in which the obligation for those payments is incurred. The variable lease cost primarily represents variable payments related to common area maintenance and utilities. The Company’s leases do not contain any material residual value guarantees. The components of the Company’s lease costs are: Three Months Ended Nine Months Ended Operating lease cost (a) $ 3,812 $ 10,884 Variable lease cost 1,202 3,181 Short-term lease cost 65 251 Total lease cost $ 5,079 $ 14,316 (a) Included in cost of sales, exclusive of depreciation and amortization, and selling, general and administrative expenses in the Company’s unaudited condensed consolidated statement of operations. Supplemental cash flow information and non-cash activity related to the Company’s operating leases are as follows: Three Months Ended Nine Months Ended Cash paid for amounts included in the measurement of lease liabilities $ 3,735 $ 10,539 Non-cash activity: Right-of-use assets obtained in exchange for lease obligations $ 18,028 $ 62,925 Weighted-average remaining lease term and discount rate for the Company’s operating leases are as follows: As of Weighted-average remaining lease term 6.72 years Weighted-average discount rate 6.87 % As of September 30, 2022, future lease payments under non-cancelable lease commitments for the next five fiscal years and thereafter were as follows: Remainder of 2022 $ 3,895 2023 13,670 2024 12,871 2025 11,711 2026 9,713 Thereafter 32,375 Total lease payments 84,235 Less: Imputed interest 19,971 Less: lease incentive receivable 7,061 Present value of lease liabilities $ 57,203 As of September 30, 2022, the Company has entered into additional lease agreements for office space that have not yet commenced. Aggregate lease payments for these leases total $4,666 on an undiscounted basis. The future minimum lease payments for operating lease obligations under ASC Topic 840 as of December 31, 2021 were as follows: 2022 $ 13,168 2023 9,255 2024 7,558 2025 6,357 2026 4,510 Thereafter 5,460 Total future minimum lease payments $ 46,308 Under ASC 840, Leases , total rental expense for the three months and nine months ended September 24, 2021 was $3,057 and $8,956.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
Stockholders' Equity	Sep. 30, 2022
Equity [Abstract]
Stockholders' Equity	Stockholders’ Equity Holders of voting common stock are entitled to one vote per share and to receive dividends. The Company had noncontrolling interests of $216 and $261 as of September 30, 2022 and December 31, 2021, respectively. Changes in noncontrolling interests each period include net income attributable to noncontrolling interests and cash contributions by minority partners to the Company’s consolidated subsidiaries. There were no cash contributions by minority partners for the three months and nine months ended September 30, 2022 or September 24, 2021. In July 2021, the Company amended its Amended and Restated Certificate of Incorporation which, among other things, effected a 150-for-1 stock split of its shares of common stock, increased the par value of its common stock from $0.001 to $0.01 per share, increased the authorized number of shares of its common stock to 500,000 and authorized 50,000 shares of preferred stock. There was no preferred stock outstanding as of September 30, 2022 and December 31, 2021. All references to share and per share amounts in the Company’s condensed consolidated financial statements have been retrospectively revised to reflect the stock split, the increase in par value and the increase in authorized shares. Share Repurchase Program — On May 12, 2022, the Company announced that its board of directors authorized a $25,000 share repurchase program. Under the share repurchase program, Snap One may purchase shares of common stock on a discretionary basis from time to time through open market repurchases, privately negotiated transactions or other means, including through Rule 10b5-1 trading plans or through the use of other techniques such as accelerated share repurchases. The timing and number of shares repurchased will depend on a variety of factors, including stock price, trading volume, and general business and market conditions. The repurchase program expires at the end of 2023, does not obligate the Company to acquire a specified number of shares and may be modified, suspended or discontinued at any time at the board of directors’ discretion. Share repurchase activity consists of the following: September 30, 2022 Three Months Ended Nine Months Ended Number of shares repurchased 128 222 Total cost $ 1,396 $ 2,444 Average per share cost including commissions $ 10.91 $ 11.01 We have elected to retire shares repurchased to date. Shares retired become part of the pool of authorized but unissued shares. The purchase price of the retired shares in excess of par value, including transaction costs, are recorded as a

Loss Per Share

Loss Per Share	9 Months Ended
Loss Per Share	Sep. 30, 2022
Earnings Per Share [Abstract]
Loss Per Share	Loss Per Share Basic loss per share represents net loss divided by the weighted-average shares outstanding. Diluted loss per share is the same as basic income or loss per share. The Company was in a loss position during the three months and nine months ended September 30, 2022 and September 24, 2021, respectively. The following table presents the calculations of basic and diluted loss per share for the three months and nine months ended September 30, 2022 and September 24, 2021: Three Months Ended Nine Months Ended September 30, September 24, September 30, September 24, Net loss attributable to Company $ (1,010) $ (21,529) $ (4,573) $ (28,587) Weighted-average shares outstanding - basic and diluted 74,650 68,672 74,567 62,369 Loss per share - basic and diluted $ (0.01) $ (0.31) $ (0.06) $ (0.46) The Company’s restricted stock awards, stock options, restricted stock units and performance stock units were excluded from the computation of diluted net loss per share because their effect would have been anti-dilutive. Awards with performance and market-based vesting conditions are excluded from the calculation of dilutive potential common shares until the conditions have been satisfied. The following potentially dilutive shares were excluded from the computation of diluted net income (loss) per share attributable to common stockholders: Three Months Ended Nine Months Ended September 30, September 24, September 30, September 24, Restricted stock awards 1,201 1,074 1,298 358 Time-based options 4,300 2,871 4,333 957 Market-based options 1,155 749 1,155 250 Restricted stock units 1,197 251 1,061 84 Performance stock units 256 — 205 — Other equity-based compensation 69 — 65 — Total 8,178 4,945 8,117 1,649

Related Parties

Related Parties	9 Months Ended
Related Parties	Sep. 30, 2022
Related Party Transactions [Abstract]
Related Parties	Related PartiesThe Company’s controlling shareholder, Hellman & Friedman, LLC (“H&F”), owns an insurance brokerage vendor used by the Company. For the three months and nine months ended September 30, 2022, the Company incurred $171 and $1,107 of expenses, respectively, related to this vendor. For the three months and nine months ended September 24, 2021, the Company incurred $298 expenses related to this vendor. Additionally, H&F has an ownership interest in a human capital management, payroll, HR service and workforce management vendor used by the Company. For the three months ended September 30, 2022 and September 24, 2021, the Company incurred $76 and $133 of expenses, respectively, related to this vendor. For the nine months ended September 30, 2022 and September 24, 2021, the Company incurred $242 and $418 of expenses, respectively, related to this vendor. These expenses are included in selling, general and administrative expenses in the accompanying condensed consolidated statements of operations. Amounts owed by the Company in connection with the expenses described above were not material as of September 30, 2022 and September 24, 2021, respectively.

Subsequent Events

Subsequent Events	9 Months Ended
Subsequent Events	Sep. 30, 2022
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventsOn October 2, 2022, the Company entered into an Incremental Agreement (the “Incremental Agreement”) with the lenders party thereto and Morgan Stanley Senior Funding, Inc., as administrative agent (the “Administrative Agent”) to provide incremental term loans in an aggregate principal amount of $55,000. The Incremental Agreement amended the Credit Agreement, dated as of December 8, 2021, among the Company, the lenders party thereto from time to time, the Administrative Agent and the other parties party thereto (as amended by the Incremental Agreement, the “Amended Credit Agreement”). The Company used the proceeds from the Amended Credit Agreement to pay down the existing revolver balance, further increasing its liquidity and allowing for additional flexibility to invest in organic or inorganic growth or use for general corporate purposes. The term loans issued under the Incremental Agreement will mature on the third anniversary of the funding date. On October 24, 2022, the Company announced the acquisition of the remaining outstanding interests of its majority-owned subsidiary, Remote Maintenance Systems LP, doing business as Parasol (“Parasol”), the provider of 24/7 remote support service based on OvrC, creating new opportunities for Snap One integrators. The Parasol acquisition builds on the Company’s strategic investment in Parasol announced last year.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	9 Months Ended
Significant Accounting Policies (Policies)	Sep. 30, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation — The accompanying condensed consolidated financial statements are unaudited and have been prepared in conformity with generally accepted accounting principles in the United States of America (“GAAP”) for interim financial statements. The condensed consolidated financial statements were prepared on the same basis as the audited consolidated financial statements and, in the opinion of management, reflect all adjustments, consisting of normal recurring adjustments, necessary to present fairly the Company’s financial position, results of operations and cash flows for the periods presented. The condensed consolidated financial statements include the accounts of the Company and all subsidiaries required to be consolidated. All intercompany balances and transactions have been eliminated in the condensed consolidated financial statements. The condensed consolidated balance sheet as of December 31, 2021, has been derived from the audited consolidated financial statements of the Company. The accompanying condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and related notes for the fiscal year ended December 31, 2021, appearing in the Company’s Annual Report on Form 10-K for the annual period ended December 31, 2021, as amended by the Form 10-K/A filed with the Securities and Exchange Commission on April 25, 2022 (as amended, the “Annual Report”). There have been no changes to the Company’s critical accounting estimates and policies or application since the date of the Annual Report except as discussed below.
Fiscal Period	The Company’s fiscal year is the 52- or 53-week period that ends on the last Friday of December. Fiscal year 2022 is a 52-week period, and fiscal year 2021 was a 53-week period. The three months ended September 30, 2022 and September 24, 2021 were 13-week periods, and the nine months ended September 30, 2022 and September 24, 2021 were 39-week periods.
Use of Accounting Estimates	Use of Accounting Estimates — The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported and disclosed in the condensed consolidated financial statements and accompanying notes. Accordingly, the actual amounts could differ from those estimates. If actual amounts differ from estimates, revisions are included in the condensed consolidated statements of operations in the period the actual amounts become known.
Recent Accounting Pronouncements Pending Adoption and Recently Adopted Accounting Pronouncements	Recent Accounting Pronouncements Pending Adoption — In March 2020, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting (Accounting Standards Codification 848, “ASC 848”) . The amendments in this ASU were put forth in response to the market transition from the London Interbank Offered Rate (“LIBOR”) and other interbank offered rates to alternative reference rates. GAAP requires entities to evaluate whether a contract modification, such as the replacement or change of a reference rate, results in the establishment of a new contract or continuation of an existing contract. ASC 848 allows an entity to elect not to apply certain modification accounting requirements to contracts affected by reference rate reform. In January 2021, the FASB issued ASU 2021-01, Reference Rate Reform (Topic 848) . The objective of the new reference rate reform standard is to clarify the scope of Topic 848 and provide explicit guidance to help companies applying optional expedients and exceptions. The provisions of these updates are only available until December 31, 2022, when the reference rate replacement activity is expected to be completed. The Company’s exposure related to the expected cessation of LIBOR is limited to the interest expense and certain fees it incurs on balances outstanding under its credit facilities. The Company does not expect that there will be a material impact to its financial statements as a result of adopting these ASUs. In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 606): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers , which requires that an entity recognize and measure contract assets and liabilities from contracts with customers in a business combination in accordance with ASC 606 as if it had originated the contracts. The amendment in this update is effective for fiscal years beginning after December 15, 2022, with early adoption permitted. The guidance should be applied prospectively to business combinations occurring on or after the effective date of the amendment in this update. The Company does not expect the adoption of this update to have a material impact to its financial statements. In September 2022, the FASB issued ASU 2022-04, Liabilities- Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations , which requires buyers in a supplier finance program to disclose information related to the key terms of the program and the obligations the buyer has confirmed as valid to the finance provider or intermediary. The buyers are required to disclose obligations outstanding in interim reporting periods. The amendment in this update is effective for fiscal years beginning after December 15, 2022, with early adoption permitted. The Company does not expect the adoption of this update to have a material impact to its financial statements. Recently Adopted Accounting Pronouncements — In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) , which establishes the principles to report transparent and economically neutral information about the assets and liabilities that arise from leases. This new guidance requires lessees to recognize the lease assets and lease liabilities that arise from leases in the statement of financial position and to disclose qualitative and quantitative information about lease transactions, such as information about variable lease payments and options to renew and terminate leases. Recently, the FASB issued ASU 2020-05, which deferred the effective date to fiscal years beginning after December 15, 2021, and interim periods within fiscal years beginning after December 15, 2022. The Company adopted the new leasing standard as of January 1, 2022, using the modified retrospective approach. Therefore, results for reporting periods beginning after January 1, 2022 are presented under Topic 842 , while comparative information has not been restated and continues to be reported under accounting standards in effect for those periods. There was not a cumulative-effect adjustment to accumulated deficit at the beginning of the period of adoption. In adopting the new guidance, the Company elected the package of practical expedients permitted under the transition guidance within the standard, which eliminates the reassessment of whether existing contracts contain leases, lease classification and capitalization of initial direct costs. The Company also elected an accounting policy to not recognize assets or liabilities for leases with a term of less than 12 months, to not separate lease and non-lease components for all asset classes and not elect to use the hindsight practical expedient. The adoption of the new leasing standard resulted in the recognition of approximately $40,906 and $43,862 of right-of-use (“ROU”) assets and lease liabilities, respectively, on the Company’s condensed consolidated balance sheets for its operating lease commitments. The difference between the ROU assets and lease liabilities is primarily attributable to deferred rent and lease incentives. The adoption of the standard did not have a material impact on the Company’s condensed consolidated statements of operations or on the condensed consolidated statements of cash flows. In June 2016, the FASB issued ASU 2016-13, Financial Instruments — Credit Losses . The ASU sets forth a current expected credit loss (“CECL”) model which requires the Company to measure all expected credit losses for financial instruments held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. This replaces the existing incurred loss model and is applicable to the measurement of credit losses on financial assets measured at amortized cost and applies to some off-balance sheet credit exposures. This ASU was effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years, with early adoption permitted. In November 2019, the FASB issued ASU 2019-10 which deferred the effective date to fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The Company early adopted the standard for the fiscal year beginning January 1, 2022. Adoption of the standard did not have a material impact on the condensed consolidated financial statements.

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
Acquisitions (Tables)	Sep. 30, 2022
Business Combination and Asset Acquisition [Abstract]
Preliminary Purchase Price	The preliminary allocation of the purchase price for the Clare acquisition is as follows: Total purchase consideration $ 6,300 Prepaid expenses $ 263 Property and equipment, net 26 Operating lease right-of-use assets 160 Identifiable intangible assets 4,300 Total identifiable assets acquired 4,749 Accounts payable 533 Accrued liabilities 284 Current operating lease liability 43 Operating lease liability, net of current portion 117 Other liabilities 183 Total liabilities assumed 1,160 Net identifiable assets acquired 3,589 Goodwill 2,711 Net assets acquired $ 6,300 The allocation of the purchase price for the Staub acquisition is as follows: Total purchase consideration $ 26,395 Cash and cash equivalents $ 756 Accounts receivable 1,801 Inventory 5,472 Prepaid expenses 1,616 Property and equipment 451 Operating lease right-of-use assets 2,309 Identifiable intangible assets 14,209 Total identifiable assets acquired 26,614 Accounts payable 1,570 Accrued liabilities 2,206 Current operating lease liability 343 Deferred income tax liabilities 3,585 Operating lease liability, net of current portion 1,953 Total liabilities assumed 9,657 Net identifiable assets acquired 16,957 Goodwill 9,438 Net assets acquired $ 26,395 The allocation of the purchase price for the Access Networks acquisition is as follows: Total purchase consideration $ 38,641 Cash and cash equivalents $ 795 Accounts receivable 794 Inventory 2,029 Property and equipment 77 Identifiable intangible assets 17,700 Total identifiable assets acquired 21,395 Accounts payable 1,266 Accrued liabilities 1,218 Other liabilities 586 Deferred income tax liabilities 710 Total liabilities assumed 3,780 Net identifiable assets acquired 17,615 Goodwill 21,026 Net assets acquired $ 38,641
Acquired Intangible Assets	The Company recorded intangible assets related to the Clare acquisition based on estimated fair value, which consisted of the following: Useful Lives Acquired Value Technology 4 $ 3,400 Trade name 6 900 Total intangible assets $ 4,300 The Company recorded intangible assets related to the Staub acquisition based on estimated fair value, which consisted of the following: Useful Lives Acquired Value Customer relationships 10 $ 12,684 Trade name 6 1,525 Total intangible assets $ 14,209 The Company recorded intangible assets related to the Access Networks acquisition based on estimated fair value, which consisted of the following: Useful Lives Acquired Value Customer relationships 10 $ 14,400 Trade name 6 3,300 Total intangible assets $ 17,700

Revenue and Geographic Inform_2

Revenue and Geographic Information (Tables)	9 Months Ended
Revenue and Geographic Information (Tables)	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
Summary of Changes in Deferred Revenue	The following table represents the changes in deferred revenue for the nine months ended September 30, 2022 and September 24, 2021: Nine Months Ended September 30, September 24, Deferred revenue – beginning of period $ 33,385 $ 30,466 Amounts billed, but not recognized 25,809 20,971 Recognition of revenue (24,641) (20,168) Deferred revenue acquired 218 1,469 Deferred revenue – end of period $ 34,771 $ 32,738
Disaggregation of Revenue	The following table sets forth revenue by geography between the United States and all geographies outside of the United States for the three months and nine months ended September 30, 2022 and September 24, 2021: Three Months Ended Nine Months Ended September 30, September 24, September 30, September 24, United States integrators (a) $ 230,173 $ 208,524 $ 694,254 $ 603,713 United States other (b) 14,940 19,037 46,107 41,746 International (c) 36,121 33,185 115,212 89,060 Total $ 281,234 $ 260,746 $ 855,573 $ 734,519 (a) United States integrators is defined as professional “do-it-for-me” integrator customers who transact with Snap One through a traditional integrator channel and excludes the impact of recently acquired businesses domestically, specifically Access Networks. (b) United States other is defined as recently acquired entities, specifically Access Networks, and revenue generated through managed transactions with non-integrator customers, such as national accounts. (c) International consists of all integrators and distributors who transact with Snap One outside of the United States. The following table sets forth revenue by product type between proprietary products and third-party products for the three months and nine months ended September 30, 2022 and September 24, 2021: Three Months Ended Nine Months Ended September 30, September 24, September 30, September 24, Proprietary products (a) $ 192,172 $ 184,640 $ 588,165 $ 517,095 Third-party products (b) 89,062 76,106 267,408 217,424 Total $ 281,234 $ 260,746 $ 855,573 $ 734,519 (a) Proprietary products consist of products and services internally developed by Snap One and sold under one of Snap One’s proprietary brands. (b) Third-party products consist of products that Snap One distributes but to which Snap One does not own the intellectual property. Additionally, the Company’s revenue includes amounts recognized over time and at a point in time, and are as follows for the three months and nine months ended September 30, 2022 and September 24, 2021: Three Months Ended Nine Months Ended September 30, September 24, September 30, September 24, Products transferred at a point in time $ 271,500 $ 254,170 $ 830,932 $ 714,351 Services transferred over time 9,734 6,576 24,641 20,168 Total $ 281,234 $ 260,746 $ 855,573 $ 734,519
Schedule of Accounts Receivable	As of September 30, 2022 and December 31, 2021, the Company’s accounts receivable, net consisted of the following: September 30, December 31, Accounts receivable $ 56,553 $ 55,088 Allowance for doubtful accounts (2,382) (2,468) Accounts receivable, net $ 54,171 $ 52,620

Inventories, Net (Tables)

Inventories, Net (Tables)	9 Months Ended
Inventories, Net (Tables)	Sep. 30, 2022
Inventory Disclosure [Abstract]
Schedule of Inventory	As of September 30, 2022 and December 31, 2021, the Company’s inventory consisted of the following: September 30, December 31, Finished goods $ 293,846 $ 210,540 Raw materials 15,466 10,454 Work in process 422 548 Reserve for obsolete and slow-moving inventory (13,110) (10,578) Total inventories, net $ 296,624 $ 210,964

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets, Net (Tables)	9 Months Ended
Goodwill and Other Intangible Assets, Net (Tables)	Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite-Lived Intangible Assets	As of September 30, 2022 and December 31, 2021, other intangible assets, net, consisted of the following: September 30, 2022 Estimated Gross Carrying Accumulated Net Carrying Customer relationships 5 – 25 years $ 521,846 $ (116,889) $ 404,957 Technology 4 – 15 years 98,478 (50,224) 48,254 Trade names – definite 2 – 10 years 60,085 (21,953) 38,132 Trade names – indefinite indefinite 76,564 — 76,564 Total intangible assets $ 756,973 $ (189,066) $ 567,907 December 31, 2021 Estimated Gross Carrying Accumulated Net Carrying Customer relationships 5 – 25 years $ 509,162 $ (96,149) $ 413,013 Technology 4 – 15 years 95,078 (38,221) 56,857 Trade names – definite 2 – 10 years 57,660 (16,902) 40,758 Trade names – indefinite indefinite 76,564 — 76,564 Total intangible assets $ 738,464 $ (151,272) $ 587,192
Schedule of Indefinite-Lived Intangible Assets	As of September 30, 2022 and December 31, 2021, other intangible assets, net, consisted of the following: September 30, 2022 Estimated Gross Carrying Accumulated Net Carrying Customer relationships 5 – 25 years $ 521,846 $ (116,889) $ 404,957 Technology 4 – 15 years 98,478 (50,224) 48,254 Trade names – definite 2 – 10 years 60,085 (21,953) 38,132 Trade names – indefinite indefinite 76,564 — 76,564 Total intangible assets $ 756,973 $ (189,066) $ 567,907 December 31, 2021 Estimated Gross Carrying Accumulated Net Carrying Customer relationships 5 – 25 years $ 509,162 $ (96,149) $ 413,013 Technology 4 – 15 years 95,078 (38,221) 56,857 Trade names – definite 2 – 10 years 57,660 (16,902) 40,758 Trade names – indefinite indefinite 76,564 — 76,564 Total intangible assets $ 738,464 $ (151,272) $ 587,192
Schedule of Finite-Lived Intangible Assets, Estimated Amortization Expense	As of September 30, 2022, the estimated amortization expense for intangible assets for the next five fiscal years and thereafter are as follows: Remainder of 2022 $ 12,467 2023 49,705 2024 43,204 2025 35,588 2026 35,233 2027 and thereafter 315,146 Total $ 491,343

Debt Agreements (Tables)

Debt Agreements (Tables)	9 Months Ended
Debt Agreements (Tables)	Sep. 30, 2022
Debt Disclosure [Abstract]
Schedule of Debt	The principal amounts outstanding under the Credit Agreement as of September 30, 2022 and December 31, 2021 were as follows: Instrument Maturity Date September 30, 2022 December 31, 2021 Credit Agreement New Term Loan December 8, 2028 $ 462,675 $ 465,000 New Revolving Credit Facility December 8, 2026 $ 57,000 $ —
Schedule of Maturities of Long-term Debt	As of September 30, 2022, the future scheduled maturities of the above notes payable are as follows: Remainder of 2022 $ 1,162 2023 4,650 2024 3,488 2025 4,650 2026 61,650 2027 5,813 Thereafter 438,262 Total future maturities of debt 519,675 Unamortized debt issuance costs (12,374) Total indebtedness 507,301 Less: Current maturities of long-term debt 4,650 Long-term debt and revolving credit facility $ 502,651
Schedule of Future Amortization of Debt Issuance Cost	As of September 30, 2022, the future amortization of debt issuance costs was as follows: Remainder of 2022 $ 470 2023 1,925 2024 1,993 2025 2,066 2026 2,123 2027 1,918 Thereafter 1,879 Total $ 12,374

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	9 Months Ended
Fair Value Measurement (Tables)	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	The fair values and related carrying values of financial instruments that are not required to be remeasured at fair value on the condensed consolidated statements of operations were as follows: As of September 30, 2022 As of December 31, 2021 Carrying Amount Fair Value Carrying Amount Fair Value Assets Notes receivable, net $ 75 $ 75 $ 6,484 $ 6,764 Liabilities New Term Loan $ 462,675 $ 421,034 $ 465,000 $ 462,675
Level 3 Measurement Valuation	Fair value at September 30, 2022 Valuation Technique Unobservable Input Volatility Contingent Value Rights $2,700 Monte Carlo Volatility 40 and 55%
CRV Reconciliation	Changes in the CVRs for the nine months ended September 30, 2022 and September 24, 2021 were as follows: September 30, September 24, CVR fair value – beginning of period $ 8,900 $ 4,000 Fair value adjustments (6,200) 1,200 CVR fair value – end of period $ 2,700 $ 5,200

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	9 Months Ended
Accrued Liabilities (Tables)	Sep. 30, 2022
Payables and Accruals [Abstract]
Schedule of Accrued Liabilities	Accrued liabilities as of September 30, 2022 and December 31, 2021, consisted of the following: September 30, December 31, Deferred revenue $ 22,121 $ 20,944 Payroll, vacation, and bonus accruals 16,810 21,340 Warranty reserve 11,870 14,549 Interest payable 10,070 1,523 Customer rebate program 5,065 4,775 Sales return allowance 4,866 3,999 Contingent consideration 2,000 — Incurred but not reported self-insurance 1,820 1,556 ESPP contribution accrual 805 — Taxes 736 1,774 Other accrued liabilities 6,171 5,057 Total accrued liabilities $ 82,334 $ 75,517

Warranties (Tables)

Warranties (Tables)	9 Months Ended
Warranties (Tables)	Sep. 30, 2022
Guarantees and Product Warranties [Abstract]
Schedule of Product Warranty Liability	Changes in the Company’s accrued warranty liability for the nine months ended September 30, 2022 and September 24, 2021 were as follows: September 30, September 24, Accrued warranty – beginning of period $ 18,772 $ 16,523 Warranty claims (9,211) (9,199) Warranty provisions 6,625 11,873 Accrued warranty – end of period $ 16,186 $ 19,197

Equity Agreements and Incenti_2

Equity Agreements and Incentive Equity Plans (Tables)	9 Months Ended
Equity Agreements and Incentive Equity Plans (Tables)	Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]
Summary of Restricted Stock Awards	The summary of the Company’s restricted stock awards activity is as follows: Restricted Stock Awards B-1 Incentive Units B-2 Incentive Units Number of Weighted- Average Grant-Date Fair Value Number of Weighted- Average Grant-Date Fair Value Outstanding at December 31, 2021 633 $ 18.00 807 $ 18.00 Granted — — — — Vested 245 18.00 — — Forfeited 13 18.00 — — Outstanding at September 30, 2022 375 $ 18.00 807 $ 18.00
Summary of Option Activity	The summary of the Company’s option activity is as follows: Time-based Options Market-based Options Number of Weighted- Average Grant-Date Fair Value Aggregate Intrinsic Value (a) Number of Weighted- Average Grant-Date Fair Value Aggregate Intrinsic Value (a) Outstanding at December 31, 2021 4,393 $ 6.49 $ 13,532 1,155 $ 5.66 $ 3,558 Granted — — — — — — Exercised — — — — — — Forfeited 102 7.14 — — — — Outstanding at September 30, 2022 4,291 $ 6.47 $ — 1,155 $ 5.66 $ — Options exercisable at September 30, 2022 2,940 $ 6.19 $ — — $ — $ — (a) The intrinsic value represents the amount by which the fair value of the Company’s stock exceeds the option exercise price as of September 30, 2022.
Summary of RSU Activity	The summary of the Company’s RSU activity is as follows: Restricted Stock Units Number of Weighted-Average Grant-Date Fair Value Outstanding at December 31, 2021 390 $ 18.22 Granted 1,267 17.11 Vested 209 18.08 Forfeited 64 19.66 Outstanding at September 30, 2022 1,384 $ 17.16
Summary of PSU Activity	The summary of the Company’s PSU activity is as follows: Performance Stock Units Number of Weighted-Average Grant-Date Fair Value Outstanding at December 31, 2021 — $ — Granted 439 19.01 Exercised — — Forfeited 2 20.46 Outstanding at September 30, 2022 437 $ 19.01
Summary of Stock Compensation Expense	Compensation expense for the three months and nine months ended September 30, 2022 and September 24, 2021, and unrecognized stock compensation expense and weighted average remaining expense period as of September 30, 2022 consisted of: Compensation Expense September 30, 2022 Three Months Ended Nine Months Ended September 30, September 24, September 30, September 24, Unrecognized Compensation Expense Weighted-Average Remaining Contractual Term (Years) 2017 Plan Incentive Units $ — $ 367 $ — $ 2,605 $ — — 2021 Plan Restricted stock awards 1,082 735 3,390 735 5,254 1.33 Time-based options 1,672 12,278 5,077 12,278 8,891 1.97 Market-based options 645 418 1,935 418 3,489 1.35 Restricted stock units 1,726 593 5,132 593 20,714 3.27 Performance stock units 165 — 1,864 — 3,821 1.59 Other equity-based compensation 100 — 279 — 929 2.30 Total $ 5,390 $ 14,391 $ 17,677 $ 16,629 $ 43,098 1.99

Leases (Tables)

Leases (Tables)	9 Months Ended
Leases (Tables)	Sep. 30, 2022
Leases [Abstract]
Schedule of Lease Costs	The components of the Company’s lease costs are: Three Months Ended Nine Months Ended Operating lease cost (a) $ 3,812 $ 10,884 Variable lease cost 1,202 3,181 Short-term lease cost 65 251 Total lease cost $ 5,079 $ 14,316 (a) Included in cost of sales, exclusive of depreciation and amortization, and selling, general and administrative expenses in the Company’s unaudited condensed consolidated statement of operations. Supplemental cash flow information and non-cash activity related to the Company’s operating leases are as follows: Three Months Ended Nine Months Ended Cash paid for amounts included in the measurement of lease liabilities $ 3,735 $ 10,539 Non-cash activity: Right-of-use assets obtained in exchange for lease obligations $ 18,028 $ 62,925 Weighted-average remaining lease term and discount rate for the Company’s operating leases are as follows: As of Weighted-average remaining lease term 6.72 years Weighted-average discount rate 6.87 %
Schedule of Future Minimum Lease Payments	As of September 30, 2022, future lease payments under non-cancelable lease commitments for the next five fiscal years and thereafter were as follows: Remainder of 2022 $ 3,895 2023 13,670 2024 12,871 2025 11,711 2026 9,713 Thereafter 32,375 Total lease payments 84,235 Less: Imputed interest 19,971 Less: lease incentive receivable 7,061 Present value of lease liabilities $ 57,203
Schedule of Future Minimum Rental Payments for Operating Leases	The future minimum lease payments for operating lease obligations under ASC Topic 840 as of December 31, 2021 were as follows: 2022 $ 13,168 2023 9,255 2024 7,558 2025 6,357 2026 4,510 Thereafter 5,460 Total future minimum lease payments $ 46,308

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
Stockholders' Equity (Tables)	Sep. 30, 2022
Equity [Abstract]
Share Repurchase Activity	Share repurchase activity consists of the following: September 30, 2022 Three Months Ended Nine Months Ended Number of shares repurchased 128 222 Total cost $ 1,396 $ 2,444 Average per share cost including commissions $ 10.91 $ 11.01

Loss Per Share (Tables)

Loss Per Share (Tables)	9 Months Ended
Loss Per Share (Tables)	Sep. 30, 2022
Earnings Per Share [Abstract]
Schedule of Loss Per Share	The following table presents the calculations of basic and diluted loss per share for the three months and nine months ended September 30, 2022 and September 24, 2021: Three Months Ended Nine Months Ended September 30, September 24, September 30, September 24, Net loss attributable to Company $ (1,010) $ (21,529) $ (4,573) $ (28,587) Weighted-average shares outstanding - basic and diluted 74,650 68,672 74,567 62,369 Loss per share - basic and diluted $ (0.01) $ (0.31) $ (0.06) $ (0.46)
Schedule of Antidilutive Securities Excluded from Computation of Net Income (Loss) Per Share	The following potentially dilutive shares were excluded from the computation of diluted net income (loss) per share attributable to common stockholders: Three Months Ended Nine Months Ended September 30, September 24, September 30, September 24, Restricted stock awards 1,201 1,074 1,298 358 Time-based options 4,300 2,871 4,333 957 Market-based options 1,155 749 1,155 250 Restricted stock units 1,197 251 1,061 84 Performance stock units 256 — 205 — Other equity-based compensation 69 — 65 — Total 8,178 4,945 8,117 1,649

Organization and Description _2

Organization and Description of Business (Details) - USD ($)		3 Months Ended		9 Months Ended
	Jul. 30, 2021	Sep. 30, 2022	Sep. 24, 2021	Sep. 30, 2022	Sep. 24, 2021
Subsidiary, Sale of Stock [Line Items]
Proceeds from issuance of IPO				$ 0	$ 249,155,000
IPO
Subsidiary, Sale of Stock [Line Items]
Number of shares issued in transaction (in shares)	13,850,000
Price per share (in dollars per share)	$ 18
Proceeds from issuance of IPO	$ 249,154,000
Payments of stock issuance costs	$ 21,219,000
Stock issuance costs expenses		$ 0	$ 1,648,000	$ 0	$ 4,569,000
Over-Allotment Option
Subsidiary, Sale of Stock [Line Items]
Number of shares issued in transaction (in shares)	1,171,000

Significant Accounting Polici_3

Significant Accounting Policies (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease right-of-use assets	$ 54,133
Operating lease liability, net of current portion	$ 45,725
Cumulative Effect, Period of Adoption, Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease right-of-use assets		$ 40,906
Operating lease liability, net of current portion		$ 43,862

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details) - USD ($)	Aug. 08, 2022	Jan. 20, 2022	May 28, 2021	May 04, 2021	Sep. 30, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Goodwill					$ 592,910,000	$ 580,761,000
Deferred revenue					22,121,000	20,944,000
Noncurrent deferred revenue					12,650,000	$ 12,441,000
Clare
Business Acquisition [Line Items]
Purchase price	$ 6,300,000
Payments to acquire business	4,900,000
Extinguishment of debt	1,400,000
Transaction related expenses	303,000
Goodwill	$ 2,711,000
Staub
Business Acquisition [Line Items]
Purchase price		$ 26,395,000
Transaction related expenses		328,000
Goodwill		$ 9,438,000
ANLA, LLC
Business Acquisition [Line Items]
Purchase price			$ 38,641,000	$ 36,641,000
Transaction related expenses			197,000
Goodwill			21,026,000
Contingent consideration				$ 2,000,000	$ 2,000,000
Carryover basis in goodwill			13,616,000
Deferred revenue			883,000
Noncurrent deferred revenue			$ 586,000

Acquisitions - Preliminary Purc

Acquisitions - Preliminary Purchase Price (Details) - USD ($) $ in Thousands	Aug. 08, 2022	Jan. 20, 2022	May 28, 2021	May 04, 2021	Sep. 30, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Goodwill					$ 592,910	$ 580,761
Clare
Business Acquisition [Line Items]
Total purchase consideration	$ 6,300
Prepaid expenses	263
Property and equipment	26
Operating lease right-of-use assets	160
Identifiable intangible assets	4,300
Total identifiable assets acquired	4,749
Accounts payable	533
Accrued liabilities	284
Current operating lease liability	43
Operating lease liability, net of current portion	117
Other liabilities	183
Total liabilities assumed	1,160
Net identifiable assets acquired	3,589
Goodwill	2,711
Net assets acquired	$ 6,300
Staub
Business Acquisition [Line Items]
Total purchase consideration		$ 26,395
Cash and cash equivalents		756
Accounts receivable		1,801
Inventory		5,472
Prepaid expenses		1,616
Property and equipment		451
Operating lease right-of-use assets		2,309
Identifiable intangible assets		14,209
Total identifiable assets acquired		26,614
Accounts payable		1,570
Accrued liabilities		2,206
Current operating lease liability		343
Deferred income tax liabilities		3,585
Operating lease liability, net of current portion		1,953
Total liabilities assumed		9,657
Net identifiable assets acquired		16,957
Goodwill		9,438
Net assets acquired		$ 26,395
ANLA, LLC
Business Acquisition [Line Items]
Total purchase consideration			$ 38,641	$ 36,641
Cash and cash equivalents			795
Accounts receivable			794
Inventory			2,029
Property and equipment			77
Identifiable intangible assets			17,700
Total identifiable assets acquired			21,395
Accounts payable			1,266
Accrued liabilities			1,218
Other liabilities			586
Deferred income tax liabilities			710
Total liabilities assumed			3,780
Net identifiable assets acquired			17,615
Goodwill			21,026
Net assets acquired			$ 38,641

Acquisitions - Acquired Intangi

Acquisitions - Acquired Intangible Assets (Details) - USD ($) $ in Thousands				9 Months Ended
	Aug. 08, 2022	Jan. 20, 2022	May 28, 2021	Sep. 30, 2022
Business Acquisition [Line Items]
Useful Lives				14 years 7 months 6 days
Clare
Business Acquisition [Line Items]
Acquired Value	$ 4,300
Clare \| Technology
Business Acquisition [Line Items]
Useful Lives	4 years
Acquired Value	$ 3,400
Clare \| Trade names – definite
Business Acquisition [Line Items]
Useful Lives	6 years
Acquired Value	$ 900
Staub
Business Acquisition [Line Items]
Acquired Value		$ 14,209
Staub \| Customer relationships
Business Acquisition [Line Items]
Useful Lives		10 years
Acquired Value		$ 12,684
Staub \| Trade names – definite
Business Acquisition [Line Items]
Useful Lives		6 years
Acquired Value		$ 1,525
ANLA, LLC
Business Acquisition [Line Items]
Acquired Value			$ 17,700
ANLA, LLC \| Customer relationships
Business Acquisition [Line Items]
Useful Lives			10 years
Acquired Value			$ 14,400
ANLA, LLC \| Trade names – definite
Business Acquisition [Line Items]
Useful Lives			6 years
Acquired Value			$ 3,300

Revenue and Geographic Inform_3

Revenue and Geographic Information - Changes in Deferred Revenue (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 24, 2021
Change In Contract With Customer Liability [Roll Forward]
Deferred revenue – beginning of period	$ 33,385	$ 30,466
Amounts billed, but not recognized	25,809	20,971
Recognition of revenue	(24,641)	(20,168)
Deferred revenue acquired	218	1,469
Deferred revenue – end of period	$ 34,771	$ 32,738

Revenue and Geographic Inform_4

Revenue and Geographic Information - Narrative (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Deferred revenue	$ 22,121	$ 20,944
Noncurrent deferred revenue	$ 12,650	$ 12,441

Revenue and Geographic Inform_5

Revenue and Geographic Information - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 24, 2021	Sep. 30, 2022	Sep. 24, 2021
Disaggregation of Revenue [Line Items]
Revenue	$ 281,234	$ 260,746	$ 855,573	$ 734,519
Products transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenue	271,500	254,170	830,932	714,351
Services transferred over time
Disaggregation of Revenue [Line Items]
Revenue	9,734	6,576	24,641	20,168
Proprietary Products
Disaggregation of Revenue [Line Items]
Revenue	192,172	184,640	588,165	517,095
Third Party Products
Disaggregation of Revenue [Line Items]
Revenue	89,062	76,106	267,408	217,424
United States integrators
Disaggregation of Revenue [Line Items]
Revenue	230,173	208,524	694,254	603,713
United States other
Disaggregation of Revenue [Line Items]
Revenue	14,940	19,037	46,107	41,746
International
Disaggregation of Revenue [Line Items]
Revenue	$ 36,121	$ 33,185	$ 115,212	$ 89,060

Revenue and Geographic Inform_6

Revenue and Geographic Information - Accounts Receivable (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Accounts receivable	$ 56,553	$ 55,088
Allowance for doubtful accounts	(2,382)	(2,468)
Accounts receivable, net	$ 54,171	$ 52,620

Inventories, Net (Details)

Inventories, Net (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Finished goods	$ 293,846	$ 210,540
Raw materials	15,466	10,454
Work in process	422	548
Reserve for obsolete and slow-moving inventory	(13,110)	(10,578)
Total inventories, net	$ 296,624	$ 210,964

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets, Net - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2022	Sep. 24, 2021	Sep. 30, 2022	Sep. 24, 2021	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 592,910		$ 592,910		$ 580,761
Goodwill, acquired during period			12,149
Goodwill, period increase					$ 21,026
Amortization of intangible assets	$ 12,536	$ 12,293	$ 37,794	$ 36,260
Weighted average useful life			14 years 7 months 6 days

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets, Net - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Acquired Finite-Lived Intangible Assets [Line Items]
Accumulated Amortization	$ (189,066)	$ (151,272)
Total	491,343
Intangible assets, gross	756,973	738,464
Other intangible assets, net	567,907	587,192
Trade names – indefinite
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	76,564	76,564
Customer relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross	521,846	509,162
Accumulated Amortization	(116,889)	(96,149)
Total	$ 404,957	$ 413,013
Customer relationships \| Minimum
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life	5 years	5 years
Customer relationships \| Maximum
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life	25 years	25 years
Technology
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross	$ 98,478	$ 95,078
Accumulated Amortization	(50,224)	(38,221)
Total	$ 48,254	$ 56,857
Technology \| Minimum
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life	4 years	4 years
Technology \| Maximum
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life	15 years	15 years
Trade names – indefinite
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross	$ 60,085	$ 57,660
Accumulated Amortization	(21,953)	(16,902)
Total	$ 38,132	$ 40,758
Trade names – indefinite \| Minimum
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life	2 years	2 years
Trade names – indefinite \| Maximum
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life	10 years	10 years

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets, Net - Estimated Amortization Expense (Details) $ in Thousands	Sep. 30, 2022 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2022	$ 12,467
2023	49,705
2024	43,204
2025	35,588
2026	35,233
2027 and thereafter	315,146
Total	$ 491,343

Debt Agreements - Narrative (De

Debt Agreements - Narrative (Details) - USD ($)			9 Months Ended
Debt Agreements - Narrative (Details) - USD ($)	Dec. 08, 2021	Aug. 04, 2021	Sep. 30, 2022	Sep. 24, 2021	Dec. 31, 2021
Debt Instrument [Line Items]
Payments on long-term debt			$ 2,325,000	$ 220,992,000
Cash paid for interest			14,904,000	25,069,000
Loss on extinguishment of debt			0	$ 6,645,000
Line of credit outstanding			55,723,000		$ 0
Letters of credit outstanding			5,060,000		4,894,000
Debt issuance costs			$ 12,374,000
Credit Agreement \| Secured Debt
Debt Instrument [Line Items]
Debt instrument, face amount	$ 465,000,000
Debt instrument, term	7 years
Weighted average interest rate			7.32%
Quarterly amortization installment, percentage of aggregate principal amount	1%
Old Credit Agreement
Debt Instrument [Line Items]
Repayments of long-term debt	$ 451,400,000
New Term Loan \| Secured Debt \| Fed Funds Effective Rate Overnight Index Swap Rate
Debt Instrument [Line Items]
Basis spread on variable rate	0.50%
New Term Loan \| Secured Debt \| Eurodollar
Debt Instrument [Line Items]
Basis spread on variable rate	1%
Variable rate floor percent	1.50%
New Term Loan \| Secured Debt \| Eurodollar \| Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	0.50%
New Revolving Credit Facility \| Line of Credit \| Fed Funds Effective Rate Overnight Index Swap Rate
Debt Instrument [Line Items]
Basis spread on variable rate	0.50%
New Revolving Credit Facility \| Line of Credit \| Eurodollar
Debt Instrument [Line Items]
Basis spread on variable rate	1%
Variable rate floor percent	1%
Secured Debt
Debt Instrument [Line Items]
Percent of annum of total aggregate principal			1%
Debt issuance costs			$ 12,374,000
Secured Debt \| Incremental Term Loan
Debt Instrument [Line Items]
Payments on long-term debt		$ 216,902,000
Debt prepayment cost		215,874,000
Cash paid for interest		1,028,000
Loss on extinguishment of debt		$ 6,645,000
Secured Debt \| New Term Loan
Debt Instrument [Line Items]
Debt instrument, face amount			462,675,000		465,000,000
Secured Debt \| New Initial Term Loan Facility
Debt Instrument [Line Items]
Debt issuance costs			11,097,000		12,256,000
Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit outstanding			57,000,000		0
Revolving Credit Facility \| Credit Agreement \| Line of Credit
Debt Instrument [Line Items]
Debt instrument, term	5 years
Maximum borrowing capacity	$ 100,000,000
Revolving Credit Facility \| New Revolving Credit Facility
Debt Instrument [Line Items]
Debt instrument, face amount			57,000,000		0
Available borrowing capacity			37,940,000		95,106,000
Debt issuance costs			$ 1,277,000		$ 1,506,000

Debt Agreements - Schedule of D

Debt Agreements - Schedule of Debt (Details) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
New Term Loan \| Secured Debt
Debt Instrument [Line Items]
Debt instrument, face amount	$ 462,675,000	$ 465,000,000
New Revolving Credit Facility \| Revolving Credit Facility
Debt Instrument [Line Items]
Debt instrument, face amount	$ 57,000,000	$ 0

Debt Agreements - Schedule of M

Debt Agreements - Schedule of Maturities of Long-term Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Unamortized debt issuance costs	$ (12,374)
Less: Current maturities of long-term debt	4,650	$ 3,488
Long-term debt and revolving credit facility	446,928	$ 449,256
Secured Debt
Debt Instrument [Line Items]
Remainder of 2022	1,162
2023	4,650
2024	3,488
2025	4,650
2026	61,650
2027	5,813
Thereafter	438,262
Total future maturities of debt	519,675
Unamortized debt issuance costs	(12,374)
Total indebtedness	507,301
Less: Current maturities of long-term debt	4,650
Long-term debt and revolving credit facility	$ 502,651

Debt Agreements - Schedule of F

Debt Agreements - Schedule of Future Amortization of Debt Issuance Cost (Details) $ in Thousands	Sep. 30, 2022 USD ($)
Debt Disclosure [Abstract]
Remainder of 2022	$ 470
2023	1,925
2024	1,993
2025	2,066
2026	2,123
2027	1,918
Thereafter	1,879
Total	$ 12,374

Fair Value Measurement - Fair V

Fair Value Measurement - Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Carrying Amount
Assets
Notes receivable, net	$ 75	$ 6,484
Carrying Amount \| New Term Loan
Liabilities
Debt instrument	462,675	465,000
Fair Value
Assets
Notes receivable, net	75	6,764
Fair Value \| New Term Loan
Liabilities
Debt instrument	$ 421,034	$ 462,675

Fair Value Measurement - Narrat

Fair Value Measurement - Narrative (Details) - USD ($)		3 Months Ended	9 Months Ended
Fair Value Measurement - Narrative (Details) - USD ($)	Aug. 08, 2022	Sep. 30, 2022	Sep. 30, 2022	Sep. 24, 2021	May 04, 2021
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Provision for credit losses on notes receivable			$ 5,872,000	$ 0
Clare
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Provision for credit losses on notes receivable		$ 5,872,000
Extinguishment of debt	$ 1,400,000
ANLA, LLC
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration		$ 2,000,000	$ 2,000,000		$ 2,000,000

Fair Value Measurement - Level

Fair Value Measurement - Level 3 Measurement Valuation (Details) - Valuation Technique, Option Pricing Model - Fair Value, Inputs, Level 3 - Fair Value, Recurring $ in Thousands	Sep. 30, 2022 USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent Value Rights	$ 2,700
Measurement Input, Price Volatility \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Volatility	0.40
Measurement Input, Price Volatility \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Volatility	0.55

Fair Value Measurement - CRV Re

Fair Value Measurement - CRV Reconciliation (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 24, 2021
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
CVR fair value – beginning of period	$ 8,900	$ 4,000
Fair value adjustments	(6,200)	1,200
CVR fair value – end of period	$ 2,700	$ 5,200

Accrued Liabilities (Details)

Accrued Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Payables and Accruals [Abstract]
Deferred revenue	$ 22,121	$ 20,944
Payroll, vacation, and bonus accruals	16,810	21,340
Warranty reserve	11,870	14,549
Interest payable	10,070	1,523
Customer rebate program	5,065	4,775
Sales return allowance	4,866	3,999
Contingent consideration	2,000	0
Incurred but not reported self-insurance	1,820	1,556
ESPP contribution accrual	805	0
Taxes	736	1,774
Other accrued liabilities	6,171	5,057
Accrued liabilities	$ 82,334	$ 75,517

Warranties - Schedule of Produc

Warranties - Schedule of Product Warranty Liability (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 24, 2021
Movement in Standard and Extended Product Warranty Accrual, Increase (Decrease) [Roll Forward]
Accrued warranty – beginning of period	$ 18,772	$ 16,523
Warranty claims	(9,211)	(9,199)
Warranty provisions	6,625	11,873
Accrued warranty – end of period	$ 16,186	$ 19,197

Warranties - Narrative (Details

Warranties - Narrative (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Guarantees and Product Warranties [Abstract]
Warranty reserve	$ 11,870	$ 14,549
Warranty accrual, noncurrent	$ 4,316	$ 4,223

Retirement Plan (Details)

Retirement Plan (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Retirement Plan (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Sep. 24, 2021	Sep. 30, 2022	Sep. 24, 2021
Retirement Benefits [Abstract]
Defined Contribution Plan, Tax Status [Extensible Enumeration]			Qualified Plan [Member]
Employer matching contribution, percent of match			100%
Employer matching contribution, percent of employees' gross pay (up to)			3%
Employers matching contribution, annual vesting percentage			50%
Maximum annual contribution percentage per employee (up to)			6%
Contribution cost	$ 1,161	$ 1,087	$ 3,984	$ 3,176

Equity Agreements and Incenti_3

Equity Agreements and Incentive Equity Plans - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 24, 2021	Sep. 30, 2022	Sep. 24, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 5,390	$ 14,391	$ 17,677	$ 16,629
Unrecognized compensation expense	$ 43,098		$ 43,098
Number rights converted (in shares)	2,998		2,998
B-1 Incentive Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			5 years
Granted (in dollars per share)			$ 0
Restricted stock awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in dollars per share)			18
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in dollars per share)			$ 17.11
Restricted Stock Units \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			1 year
Restricted Stock Units \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			4 years
Performance Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			3 years
Granted (in dollars per share)			$ 19.01
Performance Stock Units \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of total units granted			0%
Performance Stock Units \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of total units granted			200%
Other equity-based compensation \| Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			3 years
Units granted (in shares)			69,000
Grant date fair value			$ 1,208
Units granted (in dollars per share)			$ 17.42
Employee Stock \| 2022 Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 180		$ 260
Shares reserves for issuance (in shares)	750,000		750,000
Percentage of outstanding stock			1%
Purchase price of common stock, percent			85%
Risk free interest rate			1.60%
Expected volatility rate			45%
Expected dividend rate			0%
Contributions to employee stock purchase plan			$ 805
Unrecognized compensation expense	$ 108		108
Replacement Award
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense		$ 890	$ 294	$ 3,434

Equity Agreements and Incenti_4

Equity Agreements and Incentive Equity Plans - Summary of Restricted Stock Awards, RSUs, and PSUs (Details) shares in Thousands	9 Months Ended
	Sep. 30, 2022 $ / shares shares
B-1 Incentive Units
Number of Units
Outstanding balance at beginning of period (in shares) \| shares	633
Granted (in shares) \| shares	0
Vested (in shares) \| shares	245
Forfeited (in shares) \| shares	13
Outstanding balance at end of period (in shares) \| shares	375
Weighted- Average Grant-Date Fair Value
Outstanding balance at beginning of period (in dollars per share) \| $ / shares	$ 18
Granted (in dollars per share) \| $ / shares	0
Vested (in dollars per share) \| $ / shares	18
Forfeited (in dollars per share) \| $ / shares	18
Outstanding balance at end of period (in dollars per share) \| $ / shares	$ 18
B-2 Incentive Units
Number of Units
Outstanding balance at beginning of period (in shares) \| shares	807
Granted (in shares) \| shares	0
Vested (in shares) \| shares	0
Forfeited (in shares) \| shares	0
Outstanding balance at end of period (in shares) \| shares	807
Weighted- Average Grant-Date Fair Value
Outstanding balance at beginning of period (in dollars per share) \| $ / shares	$ 18
Granted (in dollars per share) \| $ / shares	0
Vested (in dollars per share) \| $ / shares	0
Forfeited (in dollars per share) \| $ / shares	0
Outstanding balance at end of period (in dollars per share) \| $ / shares	$ 18
Restricted Stock Units
Number of Units
Outstanding balance at beginning of period (in shares) \| shares	390
Granted (in shares) \| shares	1,267
Vested (in shares) \| shares	209
Forfeited (in shares) \| shares	64
Outstanding balance at end of period (in shares) \| shares	1,384
Weighted- Average Grant-Date Fair Value
Outstanding balance at beginning of period (in dollars per share) \| $ / shares	$ 18.22
Granted (in dollars per share) \| $ / shares	17.11
Vested (in dollars per share) \| $ / shares	18.08
Forfeited (in dollars per share) \| $ / shares	19.66
Outstanding balance at end of period (in dollars per share) \| $ / shares	$ 17.16
Performance Stock Units
Number of Units
Outstanding balance at beginning of period (in shares) \| shares	0
Granted (in shares) \| shares	439
Exercised (in dollars per share) \| shares	0
Forfeited (in shares) \| shares	2
Outstanding balance at end of period (in shares) \| shares	437
Weighted- Average Grant-Date Fair Value
Outstanding balance at beginning of period (in dollars per share) \| $ / shares	$ 0
Granted (in dollars per share) \| $ / shares	19.01
Exercised (in dollars per share) \| $ / shares	0
Forfeited (in dollars per share) \| $ / shares	20.46
Outstanding balance at end of period (in dollars per share) \| $ / shares	$ 19.01

Equity Agreements and Incenti_5

Equity Agreements and Incentive Equity Plans - Summary of Option Activity (Details) $ / shares in Units, shares in Thousands, $ in Thousands	9 Months Ended
	Sep. 30, 2022 USD ($) $ / shares shares
Time-based Options
Number of Units
Outstanding balance at beginning of period (in shares) \| shares	4,393
Granted (in shares) \| shares	0
Issuance of common stock pursuant to equity incentive plans (in shares) \| shares	0
Forfeited (in shares) \| shares	102
Outstanding balance at end of period (in shares) \| shares	4,291
Options exercisable at period end (in shares) \| shares	2,940
Weighted- Average Grant-Date Fair Value
Outstanding balance at beginning of period (in dollars per shares) \| $ / shares	$ 6.49
Granted (in dollars per share) \| $ / shares	0
Exercised (in dollars per share) \| $ / shares	0
Forfeited (in dollars per share) \| $ / shares	7.14
Outstanding balance at end of period (in dollars per shares) \| $ / shares	6.47
Options exercisable at period end (in dollars per share) \| $ / shares	$ 6.19
Aggregate Intrinsic Value
Outstanding balance at beginning of period \| $	$ 13,532
Granted \| $	0
Exercised \| $	0
Forfeited \| $	0
Outstanding balance at end of period \| $	0
Options exercisable at period end \| $	$ 0
Market-based Options
Number of Units
Outstanding balance at beginning of period (in shares) \| shares	1,155
Granted (in shares) \| shares	0
Issuance of common stock pursuant to equity incentive plans (in shares) \| shares	0
Forfeited (in shares) \| shares	0
Outstanding balance at end of period (in shares) \| shares	1,155
Options exercisable at period end (in shares) \| shares	0
Weighted- Average Grant-Date Fair Value
Outstanding balance at beginning of period (in dollars per shares) \| $ / shares	$ 5.66
Granted (in dollars per share) \| $ / shares	0
Exercised (in dollars per share) \| $ / shares	0
Forfeited (in dollars per share) \| $ / shares	0
Outstanding balance at end of period (in dollars per shares) \| $ / shares	5.66
Options exercisable at period end (in dollars per share) \| $ / shares	$ 0
Aggregate Intrinsic Value
Outstanding balance at beginning of period \| $	$ 3,558
Granted \| $	0
Exercised \| $	0
Forfeited \| $	0
Outstanding balance at end of period \| $	0
Options exercisable at period end \| $	$ 0

Equity Agreements and Incenti_6

Equity Agreements and Incentive Equity Plans - Stock Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 24, 2021	Sep. 30, 2022	Sep. 24, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation Expense	$ 5,390	$ 14,391	$ 17,677	$ 16,629
Unrecognized Compensation Expense	43,098		$ 43,098
Weighted-Average Remaining Contractual Term (Years)			1 year 11 months 26 days
2017 Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation Expense	0	367	$ 0	2,605
Unrecognized Compensation Expense	0		$ 0
Weighted-Average Remaining Contractual Term (Years)			0 years
2021 Plan \| Restricted stock awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation Expense	1,082	735	$ 3,390	735
Unrecognized Compensation Expense	5,254		$ 5,254
Weighted-Average Remaining Contractual Term (Years)			1 year 3 months 29 days
2021 Plan \| Time-based Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation Expense	1,672	12,278	$ 5,077	12,278
Unrecognized Compensation Expense	8,891		$ 8,891
Weighted-Average Remaining Contractual Term (Years)			1 year 11 months 19 days
2021 Plan \| Market-based Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation Expense	645	418	$ 1,935	418
Unrecognized Compensation Expense	3,489		$ 3,489
Weighted-Average Remaining Contractual Term (Years)			1 year 4 months 6 days
2021 Plan \| Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation Expense	1,726	593	$ 5,132	593
Unrecognized Compensation Expense	20,714		$ 20,714
Weighted-Average Remaining Contractual Term (Years)			3 years 3 months 7 days
2021 Plan \| Performance Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation Expense	165	0	$ 1,864	0
Unrecognized Compensation Expense	3,821		$ 3,821
Weighted-Average Remaining Contractual Term (Years)			1 year 7 months 2 days
Other equity-based compensation
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation Expense	100	$ 0	$ 279	$ 0
Unrecognized Compensation Expense	$ 929		$ 929
Weighted-Average Remaining Contractual Term (Years)			2 years 3 months 18 days

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Sep. 24, 2021	Sep. 30, 2022	Sep. 24, 2021
Income Tax Disclosure [Abstract]
Effective income benefit tax rate	18.90%	11.30%	14.20%	10.60%
Income tax benefit	$ (238)	$ (2,729)	$ (762)	$ (3,373)

Tax Receivable Agreement (Detai

Tax Receivable Agreement (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended		12 Months Ended
Tax Receivable Agreement (Details) - USD ($) $ in Thousands	Jul. 16, 2021	Sep. 30, 2022	Sep. 24, 2021	Sep. 30, 2022	Sep. 24, 2021	Dec. 31, 2021	Jul. 29, 2021
Tax Receivable Agreement [Line Items]
Payment to certain owners related to taxes expected to be utilized on future losses							85%
Proportion of tax benefits, cash tax savings, percent							15%
Tax receivable agreement, liability, total		$ 102,302		$ 102,302		$ 112,406
Current tax receivable agreement liability		10,191		10,191		0
Noncash tax receivable agreement liability		112,493		112,493
Tax receivable agreement, liability, measurement adjustments		86		86
Dividends declared	$ 13,210
IPO payments held in escrow	$ 2,754
Compensation expense		$ 279	$ 10,641	837	$ 10,641	$ 10,925
IPO
Tax Receivable Agreement [Line Items]
Dividends declared				$ 10,456

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
Leases - Narrative (Details) - USD ($) $ in Thousands	Sep. 24, 2021	Sep. 24, 2021	Sep. 30, 2022
Lessee, Lease, Description [Line Items]
Operating lease, renewal term			5 years
Lease not yet commenced, liability			$ 4,666
Operating leases, rent expense	$ 3,057	$ 8,956
Minimum
Lessee, Lease, Description [Line Items]
Operating lease, term of contract			1 year
Maximum
Lessee, Lease, Description [Line Items]
Operating lease, term of contract			10 years

Leases - Components of Lease Co

Leases - Components of Lease Costs (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2022
Leases [Abstract]
Operating lease cost	$ 3,812	$ 10,884
Variable lease cost	1,202	3,181
Short-term lease cost	65	251
Total lease cost	$ 5,079	$ 14,316

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flow Information and Non-cash Activity (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2022
Leases [Abstract]
Cash paid for amounts included in the measurement of lease liabilities	$ 3,735	$ 10,539
Non-cash activity:
Right-of-use assets obtained in exchange for lease obligations	$ 18,028	$ 62,925

Leases - Weighted Average Remai

Leases - Weighted Average Remaining Lease Term and Discount Rate (Details)	Sep. 30, 2022
Leases [Abstract]
Weighted-average remaining lease term	6 years 8 months 19 days
Weighted-average discount rate	6.87%

Leases - Schedule of Future Min

Leases - Schedule of Future Minimum Lease Payments (Details) $ in Thousands	Sep. 30, 2022 USD ($)
Lessor, Operating Lease, Payments, Fiscal Year Maturity [Abstract]
Remainder of 2022	$ 3,895
2023	13,670
2024	12,871
2025	11,711
2026	9,713
Thereafter	32,375
Total lease payments	84,235
Less: Imputed interest	19,971
Less: lease incentive receivable	7,061
Present value of lease liabilities	$ 57,203

Leases - Schedule of Future M_2

Leases - Schedule of Future Minimum Rental Payments for Operating Leases (Details) $ in Thousands	Dec. 31, 2021 USD ($)
Leases [Abstract]
2022	$ 13,168
2023	9,255
2024	7,558
2025	6,357
2026	4,510
Thereafter	5,460
Total future minimum lease payments	$ 46,308

Stockholders' Equity - Narrativ

Stockholders' Equity - Narrative (Details)	1 Months Ended	3 Months Ended	9 Months Ended
Stockholders' Equity - Narrative (Details)	Jul. 31, 2021	Sep. 30, 2022 USD ($) vote $ / shares shares	Sep. 30, 2022 USD ($) vote $ / shares shares	Sep. 24, 2021 USD ($)	May 12, 2022 USD ($)	Dec. 31, 2021 USD ($) $ / shares shares	Jul. 30, 2021 $ / shares shares	Jul. 01, 2021 $ / shares
Class of Stock [Line Items]
Number of votes per common share \| vote		1	1
Noncontrolling interest		$ 216,000	$ 216,000			$ 261,000
Contributions from minority partners			$ 0	$ 0
Stock split, conversion ratio	150
Common stock, par value (in dollars per share) \| $ / shares		$ 0.01	$ 0.01			$ 0.01	$ 0.01	$ 0.001
Common stock, shares authorized (in shares) \| shares		500,000,000	500,000,000			500,000,000	500,000,000
Preferred stock, shares authorized (in shares) \| shares		50,000,000	50,000,000			50,000,000	50,000,000
Preferred stock, shares outstanding (in shares) \| shares		0	0			0
Stock repurchase program, authorized amount					$ 25,000,000
Treasury stock, acquired		$ 1,396,000	$ 2,444,000
Accrued Liabilities
Class of Stock [Line Items]
Treasury stock, acquired			$ 34,000

Stockholders' Equity - Share Re

Stockholders' Equity - Share Repurchase Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2022
Equity [Abstract]
Number of shares repurchased	128,000	222,000
Total cost	$ 1,396	$ 2,444
Average per share cost including commissions	$ 10.91	$ 11.01

Loss Per Share - Schedule of Lo

Loss Per Share - Schedule of Loss Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 24, 2021	Sep. 30, 2022	Sep. 24, 2021
Earnings Per Share [Abstract]
Net loss attributable to Company	$ (1,010)	$ (21,529)	$ (4,573)	$ (28,587)
Weighted-average shares outstanding - basic (in shares)	74,650	68,672	74,567	62,369
Weighted-average shares outstanding - diluted (in shares)	74,650	68,672	74,567	62,369
Loss per share - basic (in dollars per share)	$ (0.01)	$ (0.31)	$ (0.06)	$ (0.46)
Loss per share - diluted (in dollars per share)	$ (0.01)	$ (0.31)	$ (0.06)	$ (0.46)

Loss Per Share - Schedule of An

Loss Per Share - Schedule of Antidilutive Securities Excluded from Computation of Net Income (Loss) Per Share (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 24, 2021	Sep. 30, 2022	Sep. 24, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of income (loss) per share (in shares)	8,178	4,945	8,117	1,649
Restricted stock awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of income (loss) per share (in shares)	1,201	1,074	1,298	358
Time-based Options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of income (loss) per share (in shares)	4,300	2,871	4,333	957
Market-based Options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of income (loss) per share (in shares)	1,155	749	1,155	250
Restricted Stock Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of income (loss) per share (in shares)	1,197	251	1,061	84
Performance Stock Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of income (loss) per share (in shares)	256	0	205	0
Other equity-based compensation
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of income (loss) per share (in shares)	69	0	65	0

Related Parties (Details)

Related Parties (Details) - Affiliated Entity - Hellman & Friedman, LLC - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 24, 2021	Sep. 30, 2022	Sep. 24, 2021
Insurance Brokerage Vendor Usage
Related Party Transaction [Line Items]
Expenses	$ 171	$ 298	$ 1,107	$ 298
Employee, HR Service, And Workforce Management Vendor Usage
Related Party Transaction [Line Items]
Selling, general and administrative expenses	$ 76	$ 133	$ 242	$ 418

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Event - USD ($)	Oct. 26, 2022	Oct. 02, 2022
Bank Of America \| Interest Rate Cap
Subsequent Event [Line Items]
Derivative, cost of hedge	$ 6,573,000
Derivative, notional amount	$ 350,000,000
Derivative, cap interest rate	5%
Incremental Agreement \| Senior Notes
Subsequent Event [Line Items]
Debt instrument, face amount		$ 55,000,000