Annual report [Section 13 and 15(d), not S-K Item 405]

Summary of Significant Accounting Policies (Tables)

v3.25.3
Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Sep. 28, 2025
Accounting Policies [Abstract]  
Schedule of Inventory

 

         
    (Thousands)  
   

As of

September 28,

2025

    

As of

September 29,

2024

  
Raw Materials   $ 9,394     $ 9,460  
Work in Process     6,063       5,954  
Finished Goods     788       556  
Gross Inventory     16,245       15,970  
Less: Inventory Reserves     (1,923 )     (1,107 )
Net Inventory   $ 14,322     $ 14,863  
Schedule of Warranty Reserves

The table below summarizes the warranty expenses and incurred warranty costs for the twelve months ended September 28, 2025 and September 29, 2024.

 

    2025     2024  
    (Thousands)
Years ended		  
    2025     2024  
Beginning balance   $ 52     $ 75  
                 
Incurred costs for warranties satisfied during the period     -       (52 )
                 
Warranty Expenses:                
Warranties reserved for new product shipped during the period(1)     152       106  
Change in estimate for pre-existing warranty liabilities (2)     (42 )     (77 )
Warranty Expense     110       29  
                 
Ending balance   $ 162     $ 52  

 

  (1) Warranty expenses accrued to cost of sales for shipped optical assemblies of $9 thousand (based on prior three months shipments of optical assemblies and the optical assembly historical warranty return rate) in addition to an expected warranty repair cost of $143 thousand for shipped day windows due to a glass cracking issue.
  (2) Changes in estimated warranty liabilities recognized in cost of sales associated with: the period end customer returned warranty backlog, or the actual costs of repaired/replaced warranty units which were shipped to the customer during the year. During the twelve months ended September 28, 2025, the warranty return rate was below historical levels resulting in a favorable change in estimate during the period.