| * | Non-GAAP Gross Profit and the corresponding calculation of non-GAAP Gross Margin do not include adjustments for the following components of our net income: (i) additional AMTC related costs of $—, $1,198, and $2,290 for the three months ended March 26, 2021, December 25, 2020, and March 27, 2020, respectively, and (ii) additional AMTC related costs of $6,553 and $9,361 for the fiscal years ended March 26, 2021 and March 27, 2020, respectively, and out of period adjustment for depreciation expense of GMR assets of $768 and $— for the fiscal years ended March 26, 2021 and March 27, 2020, respectively. |
| Three-Month Period Ended | Fiscal Year Ended | |||||||||||||||||||
|
March 26,
2021 |
December 25,
2020 |
March 27,
2020 |
March 26,
2021 |
March 27,
2020 | ||||||||||||||||
| (Dollars in thousands) | ||||||||||||||||||||
| Reconciliation of Operating Expenses | ||||||||||||||||||||
| GAAP Operating Expenses | $ | 67,558 | $ | 98,649 | $ | 52,853 | $ | 266,744 | $ | 208,448 | ||||||||||
| Research and Development Expenses | ||||||||||||||||||||
| GAAP Research and Development Expenses | 28,140 | 30,999 | 24,487 | 108,649 | 102,052 | |||||||||||||||
| Stock-based compensation | 536 | 2,984 | 22 | 3,573 | 87 | |||||||||||||||
| AMTC facility consolidation one-time costs | — | 1 | — | 2 | — | |||||||||||||||
| COVID-19 related expenses | 8 | 32 | — | 100 | — | |||||||||||||||
| Transaction fees | — | — | — | 18 | — | |||||||||||||||
| Non-GAAP Research and Development Expenses | 27,596 | 27,982 | 24,465 | 104,956 | 101,965 | |||||||||||||||
| Selling, General and Administrative Expenses | ||||||||||||||||||||
| GAAP Selling, General and Administrative Expenses | 34,799 | 67,650 | 28,366 | 153,476 | 106,396 | |||||||||||||||
| Stock-based compensation | 2,119 | 38,198 | 316 | 41,139 | 1,165 | |||||||||||||||
| AMTC facility consolidation one-time costs | 1,488 | 1,620 | — | 5,626 | — | |||||||||||||||
| Amortization of acquisition-related intangible assets | 37 | 71 | — | 117 | — | |||||||||||||||
| COVID-19 related expenses | 250 | 338 | 581 | 4,926 | 581 | |||||||||||||||
| Transaction fees | 3,727 | 1,729 | 2,553 | 7,426 | 6,335 | |||||||||||||||
| Severance | — | (181 | ) | 3,263 | 156 | 6,415 | ||||||||||||||
| Non-GAAP Selling, General and Administrative Expenses | 27,178 | 25,875 | 21,653 | 94,086 | 91,900 | |||||||||||||||
| Impairment of long-lived assets | 7,119 | — | — | 7,119 | — | |||||||||||||||
| Change in fair value of contingent consideration | (2,500 | ) | — | — | (2,500 | ) | — | |||||||||||||
| Total Non-GAAP Adjustments | 12,784 | 44,792 | 6,735 | 67,702 | 14,583 | |||||||||||||||
| Non-GAAP operating expenses * | $ | 54,774 | $ | 53,857 | $ | 46,118 | $ | 199,042 | $ | 193,865 | ||||||||||
