The following contains management’s discussion and analysis of our financial condition and results of operations and should be read together with the unaudited condensed consolidated financial statements and the related notes thereto included elsewhere in this Form 10-Q (this “Form 10-Q”) and the audited consolidated financial statements and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” included in our Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on March 4, 2026 (the “2025 Annual Report on Form 10-K.”) This discussion contains forward-looking statements that reflect our plans, estimates and beliefs as of the date hereof and we undertake no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as required by law. These forward-looking statements involve numerous risks and uncertainties, including, but not limited to, those described in the “Risk Factors” section of the 2025 Annual Report on Form 10-K, as such risk factors may be updated from time to time in our periodic filings with the SEC. Actual results may differ materially from those contained in any forward-looking statements. You should carefully read “Special Note Regarding Forward-Looking Statements” in this Form 10-Q. Overview We are one of the largest optical retailers in the U.S. and a leader in the value segment of the U.S. optical retail industry. We believe that vision is central to quality of life and that people deserve to see their best to live their best. Our mission is to make quality eye care and eyewear more affordable and accessible. We achieve this by providing eye exams, eyeglasses and contact lenses to consumers across the nation. Our range of quality product offerings at multiple price points makes us an attractive destination for consumers of all income levels. As of July 4, 2026, we reach our customers through a diverse portfolio of 1,281 retail stores across four brands, our associated omni-channel consumer websites and our dedicated e-commerce consumer website. Brand and Segment Information As of July 4, 2026, our operations consisted of one reportable segment. •Owned & Host - As of July 4, 2026, our owned brands consisted of 1,069 America’s Best Contacts and Eyeglasses (“America’s Best”) retail stores and 122 Eyeglass World retail stores. Our Host brands consisted of 72 Vista Optical locations on select military bases and 18 Vista Optical locations within select Fred Meyer stores as of July 4, 2026. All brands utilize our centralized laboratories. This segment also includes sales from our America’s Best, Eyeglass World, and Military omni-channel websites. Our consolidated results also include the following: •Corporate and other — Our corporate and other category includes the results of our dedicated e-commerce website, which sells contact lenses and optical accessory products to retail customers, and recognizes revenue when products have been delivered to the customer, and our managed care business conducted by FirstSight, our wholly-owned subsidiary that is licensed as a single-service health plan under California law, which issues individual vision plans in connection with our America’s Best operations in California. Our “corporate and other” category also includes unallocated corporate overhead expenses, which are a component of Selling, general and administrative expenses (“SG&A”) and are comprised of various home office expenses such as payroll, occupancy costs and consulting and professional fees. Corporate overhead expenses also include field services for our four retail brands. Other expenses included in this category include certain non-cash charges, including asset impairment, stock-based compensation expense, and the impact of certain events, gains, or losses excluded from the assessment of segment performance. •Effects of unearned and deferred revenue — Reportable segment information is presented on the same basis as our condensed consolidated financial statements, except reportable segment revenues and associated costs applicable to revenue which exclude the effects of unearned and deferred revenue, consistent with what our chief operating decision maker (“CODM”) regularly reviews. We present the effects of unearned and deferred revenues separately from our reportable segment information. See Note 8. “Segment Reporting” in our condensed consolidated financial statements. Deferred revenue represents the timing difference between the point of sale and when services related to product protection plans and eye care club memberships are performed. Increases or decreases in deferred revenue during the reporting period represent cash collections in excess of, or below the recognition of, previous deferrals. Unearned revenue represents the timing difference between the point of sale transaction and delivery/customer acceptance, and includes sales of prescription eyewear during approximately the last two weeks of the reporting period. 21 Table of Contents Trends and Other Factors Affecting Our Business We continue to focus on the rapid modernization of our business in the context of contemporary consumer needs and wants. Our strategy is focused around creating a more joyful consumer experience with refreshed merchandising, updated marketing and brand assets, new in-store technologies to support the customer journey, and an updated pricing architecture, all of which allow us to better serve our existing customers and expand our target consumer demographics. These consumer-facing strategies are paired with an increased focus on cost optimization and operating margin expansion, all of which are intended to drive the outcome of a stronger core business and improved operating results. The overall economic environment continues to be uncertain and macroeconomic factors that may affect customer spending patterns, and thereby our results of operations, include trade restrictions such as sanctions, tariffs, reciprocal and retaliatory tariffs, and other tariff-related measures; inflation; employment rates; business conditions; changes in the housing market; the availability of credit; interest rates; tax rates and policies; fuel and energy costs; and overall consumer confidence in future economic conditions, as well as global political, socio-economic, cultural, and geopolitical uncertainty. The effects of the current macroeconomic environment and geopolitical uncertainty have resulted in reduced customer demand and have caused shifts in consumer behaviors and preferences, which impact the demand for our products and which are expected to continue. As a result, the predictability of recurring purchase behavior for the future remains uncertain, primarily for the cash pay consumer. The United States has made changes to U.S. trade policy, including increasing tariffs on imports, in some cases significantly, and potentially negotiating or terminating existing trade agreements. For example, on April 2, 2025, the United States announced a new universal baseline tariff of 10%, plus an additional country-specific tariff for select trading partners, on all U.S. imports pursuant to the International Emergency Economic Powers Act (“IEEPA”). Additionally, on September 24, 2025, the U.S. Department of Commerce Bureau of Industry and Security announced the initiation of an investigation into the effects on U.S. national security of imports of personal protective equipment, medical consumables, and medical equipment, including devices, which could result in the imposition of tariffs or other import restrictions. On February 20, 2026, the U.S. Supreme Court declared that tariffs imposed under IEEPA on April 2, 2025 (and the subsequent modifications) were invalid as they exceeded the President’s authority. Subsequently, the Administration announced a 10% temporary tariff on U.S. imports pursuant to Section 122 of the Trade Act of 1974 (the “Act”), effective February 24, 2026. The Section 122 tariffs expired on July 24, 2026 under the statute and are being challenged in court. In March 2026, the Office of the United States Trade Representative (“USTR”) launched two sets of investigations under Section 301 of the Act, targeting forced labor compliance practices of 60 countries/regions and excess manufacturing capacity of 16 countries/regions. On July 23, 2026, USTR announced the imposition of 10% to 12.5% of Section 301 tariffs on numerous imports, with some carve outs, from the 60 economies subject to the forced labor related investigations, effective July 24, 2026. Multiple additional pending Section 301 and Section 232 investigations may result in additional tariffs being imposed on imports from various trading partners. On July 1, 2026, USTR announced that the United States would not renew the United States-Mexico-Canada Agreement in its current form, triggering annual reviews of and ongoing negotiations of the relevant terms for the next decade. On June 2, 2026, the U.S. government appealed the Court of International Trade’s (“CIT”) refund order to the U.S. Court of Appeals for the Federal Circuit, challenging, among other matters, the scope of the IEEPA refund relief and whether refunds may be required for importers that were not parties to the litigation or for certain finally liquidated entries. Subsequently, the CIT issued orders in various cases where importers filed for IEEPA refunds, directing U.S. Customs and Border Protection (“CBP”) to reliquidate the relevant entries and refund IEEPA tariffs. CBP has indicated that it is implementing a process to issue refunds on finally liquidated entries to importers who have obtained such orders from the CIT. On June 16, 2026, the Company filed claims with CBP seeking refunds of approximately $4.8 million of tariffs previously paid under IEEPA that the Company did not believe were subject to the most recent appeal process. These actions, and retaliatory tariffs imposed by other countries on U.S. exports, have led to significant volatility and uncertainty in global markets, which is continuing. Additionally, the U.S. government has announced and rescinded multiple tariffs on several foreign jurisdictions, which has increased uncertainty regarding the ultimate effect of the tariffs on economic conditions. Less than 10% of our costs applicable to revenue are directly subject to tariffs on products from China. In Mexico, where our exposure relates to our outsourcing relationship with our third-party laboratory, we have mitigation plans in place, and we estimate that less than 1% of our costs applicable to revenue are subject to tariffs in Mexico. We are continuing to evaluate these developments, including resulting impacts on our supply chain, commodity costs, and consumer spending, and our ability to offset a portion of these costs to mitigate the impact on our business, consolidated results of operations, and financial condition. Inflation has resulted in increased costs and greater profitability pressure. We have experienced wage rate pressure and increases in raw materials prices, which we expect to continue. Inflationary pressures, including elevated wages, reduced consumer confidence and changing preferences, and increased raw material costs could impact our profitability and lead us to attempt to offset such increases through various pricing actions. We have historically employed a simple low price/high value strategy seeking to balance our pricing and growth in a way that consistently delivers savings to our customers. We are continuing this commitment to value, while at the same time modernizing our pricing strategy to maximize that value across a broader range of consumers. We have taken and may continue to take pricing actions and introduce limited-time promotions or new offers designed to increase demand traffic, awareness and drive sales. In fiscal 2025, we implemented price increases to each of our America’s Best and Eyeglass World opening offers and continued to evolve our product mix to include a greater percentage of frames at price points over $99. We believe that these changes will 22 Table of Contents enable us to continue to offer the best possible value and service to our customers at prices that allow us to maintain our brands’ strong value propositions in the marketplace. Several factors may impact the level of success of such actions and promotions, including consumer sentiment, macroeconomic conditions and marketing effectiveness, and as a result, if they do not meet our expectations, they could negatively impact our margins and profitability. Additionally, our ability to continue to attract and retain qualified vision care professionals impacts exam capacity and our operations. We believe factors such as an increasingly challenging recruiting market (in particular for new graduates), preferences for adjusted work schedules, and the demand for optometrists exceeding supply in certain areas caused constraints in vision care professional availability, and therefore exam capacity in recent years, which may continue. As a result, recruiting and retaining optometrists has become more challenging and the costs to employ or retain optometrists have increased and may increase further, potentially materially. Further, a limited number of professional corporations or similar entities provide for the vision care services at a number of our retail locations, exposing us to some concentration risk. A material change in our relationship with vision care professionals, whether resulting from constraints in exam capacity, a dispute with an eye care practitioner or a group of eye care practitioners controlling multiple practice locations, a government or regulatory authority challenging our operating structure or our relationship with vision care professionals, or other changes to applicable laws or regulations (or interpretations of the same), or the loss of these relationships, could impair our ability to provide services to our customers, cause our customers to go elsewhere for their optical needs, or result in legal sanctions against us. From time to time, we may elect to make strategic changes to our doctor model or otherwise make changes to our relationships with one or more of these practices, which could also lead to any of these risks. We believe remote medicine not only helps provide more access to eye care for patients, but also helps address constraints in exam capacity. We anticipate continuing the investment in remote medicine, including hybrid remote, whereby optometrists in one store are able to see patients remotely in another store, adding select locations where feasible and advantageous and depending on the state-by-state regulatory environment. While the remote medicine has increased exam capacity, revenue and profitability, we have experienced higher costs applicable to revenue as a percentage of revenue, when compared with in-store exams. Historically, our business has experienced seasonality in the first half of the year that we believe is primarily attributable to health insurance start/reset periods and predictable consumer propensity to seek eye care and eyewear. In the beginning of the second quarter, we made an important strategic move to re-platform AmericasBest.com. This is a key step in our unified commerce journey to strengthen our digital foundation, improve the customer experience, and, over time, better connect our online and store experiences. A re-platforming of this scale resets parts of the digital storefront and traffic was disrupted as search and social optimization resets. We managed the transition anchored in data, clear operating focus, discipline and a healthy sense of urgency and saw sequential improvement in the second quarter. We believe the impact of the re-platform to traffic is behind us; however, if remediation measures take longer than anticipated to fully materialize, we could continue to experience impacts to traffic and, as a result, our financial performance. By the end of the second quarter, all of our brand websites were successfully migrated to the new platform without any material disruptions. Refer to Part I, Item 1A. “Risk Factors” in the Company’s 2025 Annual Report on Form 10-K for a more complete discussion of the risks we face. How We Assess the Performance of Our Business We consider a variety of financial and operating measures in assessing the performance of our business. The key measures we use to determine how our consolidated business and operating segments are performing are net revenue, costs applicable to revenue, and selling, general, and administrative expenses. In addition, we also review store growth, Adjusted Comparable Store Sales Growth, Adjusted Operating Income, Adjusted Operating Margin, Adjusted EBITDA, Adjusted EBITDA Margin and Adjusted Diluted EPS. Net Revenue We report as net revenue amounts generated in transactions with retail customers who are the end users of our products, services and plans. Comparable store sales growth and new store openings are key drivers of net revenue and are discussed below. Also, the timing of unearned revenue can affect revenue recognized in a particular period. Costs Applicable to Revenue Customer tastes and preferences, product mix, changes in technology, significant increases or slowdowns in production, and other factors impact costs applicable to revenue. The components of our costs applicable to revenue may not be comparable to other retailers. 23 Table of Contents Selling, General and Administrative SG&A expenses generally fluctuate consistently with revenue due to the variable store, field office and corporate support costs; however, some fixed costs may decrease as a percentage of net revenue as our net revenues grow over time. New Store Openings The total number of new stores per year and the timing of store openings has had an impact, and we expect will continue to have an impact, on our results. We plan to open approximately 30 to 35 new stores in fiscal year 2026, primarily comprised of America’s Best stores and not inclusive of the addition of 20 Military stores in April 2026, to allow us to invest capital in existing operations to enhance the overall store experience. We are continuing to monitor and determine our plans for future new store openings at a level appropriate for incremental free cash flow generation. Adjusted Comparable Store Sales Growth We measure Adjusted Comparable Store Sales Growth as the increase or decrease in sales recorded by the comparable store base in any reporting period, compared to sales recorded by the comparable store base in the prior reporting period, which we calculate as follows: (i) sales are recorded at the point of sale; (ii) sales are adjusted for managed care insurance collection estimates; (iii) stores are added to the calculation during the 13th full fiscal month following the store’s opening; (iv) closed stores are removed from the calculation for time periods that are not comparable; (v) sales from partial months of operation are excluded when stores do not open or close on the first day of the month; (vi) when applicable, we adjust for the effect of the 53rd week; and (vii) in fiscal years following a 53-week fiscal year, there is a one week calendar shift to the comparable prior-year period. For the calculation of the adjusted comparable store sales growth for the three months ended July 4, 2026, we compared weeks 14 through 26 in fiscal 2026 against weeks 15 through 27 in fiscal 2025 and for the six months ended July 4, 2026, we compared weeks 1 through 26 in fiscal year 2026 against weeks 2 through 27 in fiscal year 2025. Quarterly, year-to-date and annual adjusted comparable store sales are aggregated using only sales from all whole months of operation included in both the current reporting period and the prior reporting period. When a partial month is excluded from the calculation, the corresponding month in the subsequent period is also excluded from the calculation. There may be variations in the way in which some of our competitors and other retailers calculate comparable store sales. As a result, our adjusted comparable store sales may not be comparable to similar data made available by other retailers. Adjusted Comparable Store Sales Growth is a non-GAAP financial measure, which we believe is useful because it provides timely and accurate information relating to the two core metrics of retail sales: number of transactions and value of transactions. We use Adjusted Comparable Store Sales Growth as the basis for key operating decisions, such as allocation of advertising to particular markets and implementation of special marketing programs. Accordingly, we believe that Adjusted Comparable Store Sales Growth provides timely and accurate information relating to the operational health and overall performance of each brand. We also believe that, for the same reasons, investors find our calculation of Adjusted Comparable Stores Sales Growth to be meaningful. Adjusted Operating Income, Adjusted Operating Margin, EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin and Adjusted Diluted EPS (collectively, the “Company Non-GAAP Measures”) The Company Non-GAAP Measures are key measures used by management to assess our financial performance. The Company Non-GAAP Measures are also frequently used by analysts, investors and other interested parties. We use the Company Non-GAAP Measures to supplement U.S. GAAP measures of performance to evaluate the effectiveness of our business strategies, to make budgeting decisions, to establish discretionary annual incentive compensation and to compare our performance against that of other peer companies using similar measures. See “Non-GAAP Financial Measures” below for definitions and reconciliations of the Company Non-GAAP Measures and for additional information. 24 Table of Contents Results of Operations The following table summarizes key components of our results of operations for the periods indicated, both in dollars and as a percentage of our net revenue. Three Months Ended Six Months Ended In thousands, except earnings per share, percentage and store data July 4, 2026 June 28, 2025 July 4, 2026 June 28, 2025 Revenue: Net product sales $ 403,135 $ 394,589 $ 842,635 $ 807,354 Net sales of services and plans 95,670 91,834 200,050 189,393 Total net revenue 498,805 486,423 1,042,685 996,747 Costs applicable to revenue (exclusive of depreciation and amortization): Products 118,574 114,686 245,391 231,600 Services and plans 89,798 85,685 182,117 173,961 Total costs applicable to revenue 208,372 200,371 427,508 405,561 Operating expenses: Selling, general and administrative expenses 243,432 247,167 499,524 502,699 Depreciation and amortization 23,221 22,536 46,663 45,499 Asset impairment 2,506 — 2,506 502 Other income, net (28) (100) (57) (100) Total operating expenses 269,131 269,603 548,636 548,600 Income from operations 21,302 16,449 66,541 42,586 Interest expense, net 3,337 4,210 6,185 8,782 Earnings before income taxes 17,965 12,239 60,356 33,804 Income tax provision 5,549 3,514 16,759 10,893 Net income $ 12,416 $ 8,725 $ 43,597 $ 22,911 Supplemental operating data: Number of stores open at end of period 1,281 1,240 1,281 1,240 New stores opened during the period 9 8 17 17 Adjusted Operating Income $ 31,574 $ 23,801 $ 87,034 $ 65,076 Diluted EPS $ 0.15 $ 0.11 $ 0.54 $ 0.29 Adjusted Diluted EPS $ 0.25 $ 0.18 $ 0.71 $ 0.52 Adjusted EBITDA $ 54,626 $ 46,168 $ 133,359 $ 110,237 Percentage of net revenue: Total costs applicable to revenue 41.8 % 41.2 % 41.0 % 40.7 % Selling, general and administrative expenses 48.8 % 50.8 % 47.9 % 50.4 % Total operating expenses 54.0 % 55.4 % 52.6 % 55.0 % Net income 2.5 % 1.8 % 4.2 % 2.3 % Adjusted Operating Income 6.3 % 4.9 % 8.3 % 6.5 % Adjusted EBITDA 11.0 % 9.5 % 12.8 % 11.1 % 25 Table of Contents Three Months Ended July 4, 2026 compared to Three Months Ended June 28, 2025 Unless otherwise noted, the discussion below is based on results, substantially all of which are, attributable to our single reportable segment, Owned & Host. Net revenue The following presents, by segment and by brand, comparable store sales growth, stores open at the end of the period and net revenue for the three months ended July 4, 2026 compared to the three months ended June 28, 2025. Comparable store sales growth(1) Stores open at end of period Net revenue(1)(2) In thousands, except percentage and store data Three Months Ended July 4, 2026 Three Months Ended June 28, 2025 July 4, 2026 June 28, 2025 Three Months Ended July 4, 2026 Three Months Ended June 28, 2025 Owned & Host segment America’s Best 2.5 % 6.3 % 1,069 1,045 $ 424,288 85.1 % $ 416,775 85.7 % Eyeglass World 0.4 % 2.8 % 122 122 48,522 9.7 % 49,105 10.1 % Military (2.9) % 4.4 % 72 53 6,999 1.4 % 5,844 1.2 % Fred Meyer (7.4) % 6.9 % 18 20 2,020 0.4 % 2,428 0.5 % Owned & Host segment total 1,281 1,240 $ 481,829 96.6 % $ 474,152 97.5 % Corporate and Other — — — — 4,748 0.9 % 5,719 1.2 % Effects of unearned and deferred revenue — — — — 12,228 2.5 % 6,552 1.3 % Total 3.4 % 6.5 % 1,281 1,240 $ 498,805 100.0 % $ 486,423 100.0 % Effect of deferred and unearned revenue on comparable store sales (1.2) % (0.6) % Adjusted Comparable Store Sales Growth 2.2 % 5.9 % (1) We calculate total comparable store sales based on consolidated net revenue excluding the impact of (i) Corporate and other revenue, (ii) sales from stores opened less than 13 months, (iii) stores closed in the periods presented, (iv) sales from partial months of operation when stores do not open or close on the first day of the month (v) if applicable, the impact of a 53rd week in a fiscal year, and (vi) in fiscal years following a 53-week fiscal year, there is a one week calendar shift to the comparable prior-year period. For the calculation of the adjusted comparable store sales growth in the second quarter of 2026, we compared weeks 14 through 26 in fiscal 2026 against weeks 15 through 27 in fiscal 2025. Brand-level comparable store sales growth is calculated based on point-of-sale revenues consistent with what the CODM reviews, and consistent with reportable segment revenues presented in Note 8. “Segment Reporting” in our unaudited condensed consolidated financial statements included in Part I. Item 1. of this Form 10-Q. (2) Percentages reflect line item as a percentage of net revenue, adjusted for rounding. Three Months Ended (in thousands) July 4, 2026 June 28, 2025 $ Change % Change Total net revenue $ 498,805 $ 486,423 $ 12,382 2.5 % Net product sales $ 403,135 $ 394,589 $ 8,546 2.2 % As a percentage of total net revenue 80.8% 81.1% Net sales of services and plans $ 95,670 $ 91,834 $ 3,836 4.2 % As a percentage of total net revenue 19.2% 18.9% Total net revenue of $498.8 million for the three months ended July 4, 2026 increased $12.4 million, or 2.5%, from $486.4 million for the three months ended June 28, 2025. The increase was primarily driven by new store sales, the timing of unearned revenue and Adjusted Comparable Store Sales Growth, partially offset by closed stores. Unearned and deferred revenue positively impacted net revenue by $5.7 million during the three months ended July 4, 2026 compared to the three months ended June 28, 2025. 26 Table of Contents Net product sales increased $8.5 million, or 2.2%, in the three months ended July 4, 2026 compared to the three months ended June 28, 2025, primarily due to pricing and product mix initiatives in eyeglass sales of $7.0 million and contact lens sales of $1.9 million. Net sales of services and plans for the three months ended July 4, 2026 increased $3.8 million, or 4.2%, compared to the three months ended June 28, 2025, driven primarily by higher eye exam revenues of $3.8 million. Comparable store sales growth and Adjusted Comparable Store Sales Growth for the three months ended July 4, 2026 were 3.4% and 2.2%, respectively, both reflecting a higher average ticket and continued strength in the managed care cohort, partially offset by lower customer traffic. In the three months ended July 4, 2026, we opened nine America’s Best stores, and closed two America’s Best stores. Overall, store count grew 3.3% from June 28, 2025 to July 4, 2026. Costs applicable to revenue Three Months Ended (in thousands) July 4, 2026 June 28, 2025 $ Change % Change Total costs applicable to revenue $ 208,372 $ 200,371 $ 8,001 4.0 % As a percentage of total net revenue 41.8 % 41.2 % Total costs of products $ 118,574 $ 114,686 $ 3,888 3.4 % As a percentage of net product sales 29.4 % 29.1 % Total costs of services and plans $ 89,798 $ 85,685 $ 4,113 4.8 % As a percentage of net sales of services and plans 93.9 % 93.3 % Costs applicable to revenue increased $8.0 million, or 4.0% in the three months ended July 4, 2026, compared to the three months ended June 28, 2025. As a percentage of net revenue, costs applicable to revenue increased 60 basis points and were primarily driven by a 50 basis-point decrease in eyeglass margin, reflecting a strategic mix shift toward higher-value product offerings, deleverage of optometrist-related costs of 30 basis points, and other mix effects of 30 basis points, partially offset by higher exam revenues of 50 basis points. Costs of products as a percentage of net product sales increased 30 basis points, primarily driven by lower eyeglass margin reflecting a strategic mix shift toward higher-value product offerings. Costs of services and plans as a percentage of net sales of services and plans increased 60 basis points, primarily driven by deleverage of optometrist-related costs, partially offset by higher exam revenue. Selling, general and administrative Three Months Ended (in thousands) July 4, 2026 June 28, 2025 $ Change % Change SG&A $ 243,432 $ 247,167 $ (3,735) (1.5) % As a percentage of total revenue 48.8 % 50.8 % SG&A of $243.4 million for the three months ended July 4, 2026 decreased $3.7 million, or 1.5%, compared to the three months ended June 28, 2025. As a percentage of net revenue, SG&A decreased 200 basis points primarily driven by lower associate-related expenses, including variable incentive compensation, of 180 basis points, and lower advertising expense of 50 basis points, partially offset by higher occupancy expense of 40 basis points, primarily driven by new and acquired locations. Depreciation and amortization Depreciation and amortization expense of $23.2 million for the three months ended July 4, 2026 increased $0.7 million, or 3.0%, from $22.5 million for the three months ended June 28, 2025, primarily related to assets in our existing stores and retail support centers, partially offset by lower depreciation associated with newer stores. Asset Impairment We recognized $2.5 million of impairment charges during the three months ended July 4, 2026. We did not recognize any impairment charges during the three months ended June 28, 2025. The impairment charges recognized in the current period were related to the write-down of store lab assets in connection with our Eyeglass World lab optimization initiative, which is intended to improve operational efficiency by reducing in-store lab activity and utilizing alternative production 27 Table of Contents capabilities. Asset impairment expenses were recognized in Corporate and other. Refer to Note 11. “Restructuring” for information regarding this initiative, including expected future restructuring activities and related costs and Note 1. “Description of Business and Basis of Presentation” and Note 3. “Fair Value Measurement” for further details. Interest expense, net Interest expense, net, of $3.3 million for the three months ended July 4, 2026 decreased $0.9 million from $4.2 million for the three months ended June 28, 2025, primarily as a result of lower interest expense of $1.2 million resulting from lower outstanding debt balance, partially offset by lower interest income of $0.4 million. Income tax provision Our effective tax rates for the three months ended July 4, 2026 and June 28, 2025 were 30.9% and 28.7%, respectively. The change in effective tax rates was primarily driven by the tax impacts of non-deductible compensation and other effects of permanent items. 28 Table of Contents Six Months Ended July 4, 2026 compared to Six Months Ended June 28, 2025 Unless otherwise noted, the discussion below is based on results, substantially all of which are attributable to our single reportable segment, Owned & Host. Net revenue The following presents, by segment and by brand, comparable store sales growth, stores open at the end of the period and net revenue for the six months ended July 4, 2026 compared to the six months ended June 28, 2025. Comparable store sales growth(1) Stores open at end of period Net revenue(1)(2) In thousands, except percentage and store data Six Months Ended July 4, 2026 Six Months Ended June 28, 2025 July 4, 2026 June 28, 2025 Six Months Ended July 4, 2026 Six Months Ended June 28, 2025 Owned & Host segment America’s Best 3.5 % 6.1 % 1,069 1,045 $ 900,181 86.3 % $ 870,506 87.3 % Eyeglass World 2.9 % 2.9 % 122 122 103,219 9.9 % 101,591 10.2 % Military (0.3) % 3.0 % 72 53 13,444 1.3 % 12,010 1.2 % Fred Meyer (1.4) % 4.1 % 18 20 4,315 0.4 % 5,026 0.5 % Owned & Host segment total 1,281 1,240 $ 1,021,159 97.9 % $ 989,133 99.2 % Corporate and Other — — — — 9,217 0.9 % 11,353 1.1 % Effects of unearned and deferred revenue — — — — 12,309 1.2 % (3,739) (0.3) % Total 3.9 % 5.2 % 1,281 1,240 $ 1,042,685 100.0 % $ 996,747 100.0 % Effect of deferred and unearned revenue on comparable store sales (0.5) % 0.5 % Adjusted Comparable Store Sales Growth 3.4 % 5.7 % (1) We calculate total comparable store sales based on consolidated net revenue excluding the impact of (i) Corporate and other revenue, (ii) sales from stores opened less than 13 months, (iii) stores closed in the periods presented, (iv) sales from partial months of operation when stores do not open or close on the first day of the month (v) if applicable, the impact of a 53rd week in a fiscal year and (vi) in fiscal years following a 53-week fiscal year, there is a one week calendar shift to the comparable prior-year period. For the calculation of the adjusted comparable store sales growth in the six months ended July 4, 2026, we compared weeks 1 through 26 in fiscal 2026 against weeks 2 through 27 in fiscal 2025. Brand-level comparable store sales growth is calculated based on point-of-sale revenues consistent with what the CODM reviews, and consistent with reportable segment revenues presented in Note 8. “Segment Reporting” in our unaudited condensed consolidated financial statements included in Part I. Item 1. of this Form 10-Q. (2) Percentages reflect line item as a percentage of net revenue, adjusted for rounding. Six Months Ended (in thousands) July 4, 2026 June 28, 2025 $ Change % Change Total net revenue $ 1,042,685 $ 996,747 $ 45,938 4.6 % Net product sales $ 842,635 $ 807,354 $ 35,281 4.4 % As a percentage of total net revenue 80.8% 81.0% Net sales of services and plans $ 200,050 $ 189,393 $ 10,657 5.6 % As a percentage of total net revenue 19.2% 19.0% Total net revenue of $1,042.7 million for the six months ended July 4, 2026 increased $45.9 million, or 4.6%, from $996.7 million for the six months ended June 28, 2025. The increase was primarily driven by Adjusted Comparable Store Sales Growth, new store sales and the timing of unearned revenue, partially offset by closed stores. Unearned and deferred revenue positively impacted net revenue by $16.0 million during the six months ended July 4, 2026 compared to the six months ended June 28, 2025. 29 Table of Contents Net product sales increased $35.3 million, or 4.4%, in the six months ended July 4, 2026 compared to the six months ended June 28, 2025, primarily due to pricing and product mix initiatives in eyeglass sales of $27.3 million and contact lens sales of $8.8 million. Net sales of services and plans for the six months ended July 4, 2026 increased $10.7 million, or 5.6%, compared to the six months ended June 28, 2025, driven primarily by higher exam revenues of $9.4 million. Comparable store sales growth and Adjusted Comparable Store Sales Growth for the six months ended July 4, 2026 were 3.9% and 3.4%, respectively, both reflecting a higher average ticket and continued strength in the Company’s managed care cohort, partially offset by lower customer traffic. During fiscal 2025, the Company entered into an amendment to its agreement with Army and Air Force Exchange Service (AAFES), extending the term of the agreement through January 2036. Subsequently, in February 2026, the Company and AAFES entered into an additional amendment providing for the operation by the Company of an additional 20 military stores located on AAFES bases, expanding the Company’s presence in two additional states. In the six months ended July 4, 2026, and in connection with this expansion, the Company purchased from U.S. Vision Corp. certain assets used in connection with the operation of those 20 additional military stores. Additionally, we opened 17 new America’s Best stores and closed five America’s Best stores and one Military store. Overall, store count grew 3.3% from June 28, 2025 to July 4, 2026 (24 net new America’s Best stores, 19 net new Military stores, and two net closures of Fred Meyer stores). Costs applicable to revenue Six Months Ended (in thousands) July 4, 2026 June 28, 2025 $ Change % Change Total costs applicable to revenue $ 427,508 $ 405,561 $ 21,947 5.4 % As a percentage of total net revenue 41.0 % 40.7 % Total costs of products $ 245,391 $ 231,600 $ 13,791 6.0 % As a percentage of net product sales 29.1 % 28.7 % Total costs of services and plans $ 182,117 $ 173,961 $ 8,156 4.7 % As a percentage of net sales of services and plans 91.0 % 91.9 % Costs applicable to revenue increased $21.9 million, or 5.4%, in the six months ended July 4, 2026 compared to the six months ended June 28, 2025. As a percentage of net revenue, costs applicable to revenue increased 30 basis points and were primarily driven by a 60 basis-point decrease in eyeglass margin reflecting a strategic mix shift toward higher-value product offerings, partially offset by higher exam revenues of 30 basis points. Costs of products as a percentage of net product sales increased 40 basis points, primarily driven by lower eyeglass margin reflecting a strategic mix shift toward higher-value product offerings. Costs of services and plans as a percentage of net sales of services and plans decreased 90 basis points, primarily driven by higher exam revenue. Selling, general and administrative Six Months Ended (in thousands) July 4, 2026 June 28, 2025 $ Change % Change SG&A $ 499,524 $ 502,699 $ (3,175) (0.6) % As a percentage of total revenue 47.9 % 50.4 % SG&A decreased $3.2 million, or 0.6%, in the six months ended July 4, 2026 compared to the six months ended June 28, 2025. SG&A as a percentage of net revenue decreased 250 basis points primarily driven by lower associate-related expenses, including variable incentive compensation of 210 basis points and lower advertising expense of 60 basis points. Depreciation and amortization Depreciation and amortization expense of $46.7 million for the six months ended July 4, 2026 increased $1.2 million, or 2.6%, from $45.5 million for the six months ended June 28, 2025, primarily related to our existing stores and retail support centers, partially offset by lower depreciation associated with newer stores. 30 Table of Contents Asset impairment We recognized $2.5 million impairment charges during the six months ended July 4, 2026, related to Eyeglass World lab optimization activity. The impairment charges recognized in the current period were related to the write-down of store lab assets in connection with our Eyeglass World lab optimization initiative, which is intended to improve operational efficiency by reducing in-store lab activity and utilizing alternative production capabilities. Refer to Note 11. “Restructuring” for information regarding this initiative, including expected future restructuring activities and related costs. We recognized $0.5 million of impairment charges during the six months ended June 28, 2025, primarily for tangible long-lived assets and ROU assets associated with our retail stores. Asset impairment expenses were recognized in Corporate and other. See Note 1. “Description of Business and Basis of Presentation” and Note 3. “Fair Value Measurement” for further details. Interest expense, net Interest expense, net of $6.2 million for the six months ended July 4, 2026, decreased $2.6 million from $8.8 million for the six months ended June 28, 2025. The change was primarily a result of lower interest expense of $2.4 million resulting from lower outstanding debt balance. Income tax provision Our effective tax rates for the six months ended July 4, 2026 and June 28, 2025 were 27.8% and 32.2%, respectively. The change in effective tax rates is primarily driven by the discrete benefit of permanent adjustments related to stock-based compensation, partially offset by non-deductible compensation. Non-GAAP Financial Measures Adjusted Operating Income, Adjusted Operating Margin, EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin and Adjusted Diluted EPS We define Adjusted Operating Income as net income (loss), plus interest expense (income), net and income tax provision (benefit), further adjusted to exclude stock-based compensation expense, (gain) loss on extinguishment of debt, asset impairment, litigation settlement, secondary offering expenses, management realignment expenses, long-term incentive plan expenses, amortization of acquisition intangibles, ERP and CRM implementation expenses, shareholder activism costs, severance and associate-related costs associated with organizational restructuring and certain other expenses. We define Adjusted Operating Margin as Adjusted Operating Income as a percentage of net revenue. We define EBITDA as net income (loss), plus interest expense (income), net, income tax provision (benefit) and depreciation and amortization. We define Adjusted EBITDA as net income (loss), plus interest expense (income), net, income tax provision (benefit) and depreciation and amortization, further adjusted to exclude stock-based compensation expense, (gain) loss on extinguishment of debt, asset impairment, litigation settlement, secondary offering expenses, management realignment expenses, long-term incentive plan expenses, ERP and CRM implementation expenses, shareholder activism costs, severance and associate-related costs associated with organizational restructuring and certain other expenses. We define Adjusted EBITDA Margin as Adjusted EBITDA as a percentage of net revenue. We define Adjusted Diluted EPS as diluted earnings (loss) per share, adjusted for the per share impact of stock-based compensation expense, (gain) loss on extinguishment of debt, asset impairment, litigation settlement, secondary offering expenses, management realignment expenses, long-term incentive plan expenses, amortization of debt discounts and deferred financing costs of our term loan borrowings, amortization of the conversion feature and deferred financing costs related to our 2.50% convertible senior notes due on May 15, 2025 (”2025 Notes”) when not required under U.S. GAAP to be added back for diluted earnings (loss) per share, derivative fair value adjustments, ERP and CRM implementation expenses, shareholder activism, severance and associate-related costs associated with restructuring, and certain other expenses, less the tax effect of these adjustments, including tax expense (benefit) from stock-based compensation. EBITDA and the Company Non-GAAP Measures can vary substantially in size from one period to the next, and certain types of expenses are non-recurring in nature and consequently may not have been incurred in any of the periods presented below. EBITDA and the Company Non-GAAP Measures have been presented as supplemental measures of financial performance that are not required by, or presented in accordance with U.S. GAAP, because we believe they assist investors and analysts in comparing our operating performance across reporting periods on a consistent basis by excluding items that we do not believe are indicative of our core operating performance. Management believes EBITDA and the Company Non-GAAP Measures are useful to investors in highlighting trends in our operating performance, while other measures can differ significantly depending on long-term strategic decisions regarding capital structure, the tax jurisdictions in which we operate and capital investments. We also use EBITDA and the Company Non-GAAP Measures 31 Table of Contents to supplement U.S. GAAP measures of performance in the evaluation of the effectiveness of our business strategies, to make budgeting decisions, to establish discretionary annual incentive compensation and to compare our performance against that of other peer companies using similar measures. Management supplements U.S. GAAP results with Non-GAAP financial measures to provide a more complete understanding of the factors and trends affecting the business than U.S. GAAP results alone. We continue to evaluate our use of the Company Non-GAAP measures in the context of the development of our business, and may introduce or discontinue certain measures in the future as we deem appropriate. EBITDA and the Company Non-GAAP Measures are not recognized terms under U.S. GAAP and should not be considered as an alternative to net income or income from operations as a measure of financial performance or cash flows provided by operating activities as a measure of liquidity, or any other performance measure derived in accordance with U.S. GAAP. Additionally, these measures are not intended to be a measure of free cash flow available for management’s discretionary use as they do not consider certain cash requirements such as interest payments, tax payments and debt service requirements. In evaluating EBITDA and the Company Non-GAAP Measures, we may incur expenses in the future that are the same as or similar to some of the adjustments in this presentation. Our presentation of EBITDA and the Company Non-GAAP Measures should not be construed to imply that our future results will be unaffected by any such adjustments. Management compensates for these limitations by primarily relying on our U.S. GAAP results in addition to using EBITDA and the Company Non-GAAP Measures. The presentations of these measures have limitations as analytical tools and should not be considered in isolation, or as a substitute for analysis of our results as reported under U.S. GAAP. Some of these limitations are: •they do not reflect costs or cash outlays for capital expenditures or contractual commitments; •they do not reflect changes in, or cash requirements for, our working capital needs; •EBITDA, Adjusted EBITDA and Adjusted Operating Income do not reflect the interest expense (income), net, or the cash requirements necessary to service interest or principal payments, on our debt; •EBITDA, Adjusted EBITDA and Adjusted Operating Income do not reflect period to period changes in taxes, income tax provision or the cash necessary to pay income taxes; •they do not reflect the impact of earnings or charges resulting from matters we consider not to be indicative of our ongoing operations; •although depreciation and amortization are non-cash charges, the assets being depreciated and amortized will often have to be replaced in the future, and EBITDA and Adjusted EBITDA do not reflect cash requirements for such replacements; and •other companies in our industry may calculate these measures differently than we do, limiting their usefulness as comparative measures. Because of these limitations, EBITDA and the Company Non-GAAP Measures should not be considered as measures of discretionary cash available to invest in business growth or to reduce indebtedness. The following table reconciles our Adjusted Operating Income, Adjusted Operating Margin, EBITDA, Adjusted EBITDA, and Adjusted EBITDA Margin to net income; and Adjusted Diluted EPS to diluted EPS for the periods presented: Three Months Ended Six Months Ended In thousands July 4, 2026 June 28, 2025 July 4, 2026 June 28, 2025 Net income $ 12,416 2.5 % $ 8,725 1.8 % $ 43,597 4.2 % $ 22,911 2.3 % Interest expense, net 3,337 0.7 % 4,210 0.9 % 6,185 0.6 % 8,782 0.9 % Income tax provision 5,549 1.1 % 3,514 0.7 % 16,759 1.6 % 10,893 1.1 % Stock-based compensation expense (a) 6,366 1.3 % 5,306 1.1 % 13,388 1.3 % 12,335 1.2 % Asset impairment (b) 2,506 0.5 % — — % 2,506 0.2 % 502 0.1 % Amortization of acquisition intangibles (c) 169 — % 169 — % 338 — % 338 — % ERP and CRM implementation expenses (e) 554 0.1 % 1,846 0.4 % 926 0.1 % 4,161 0.4 % Other (f) 677 0.1 % 31 — % 3,335 0.3 % 5,154 0.5 % Adjusted Operating Income / Adjusted Operating Margin $ 31,574 6.3 % $ 23,801 4.9 % $ 87,034 8.3 % $ 65,076 6.5 % Note: Percentages reflect line item as a percentage of net revenue, adjusted for rounding. Some of the percentage totals in the table above do not foot due to rounding differences. 32 Table of Contents Three Months Ended Six Months Ended In thousands July 4, 2026 June 28, 2025 July 4, 2026 June 28, 2025 Net income $ 12,416 2.5 % $ 8,725 1.8 % $ 43,597 4.2 % $ 22,911 2.3 % Interest expense, net 3,337 0.7 % 4,210 0.9 % 6,185 0.6 % 8,782 0.9 % Income tax provision 5,549 1.1 % 3,514 0.7 % 16,759 1.6 % 10,893 1.1 % Depreciation and amortization 23,221 4.7 % 22,536 4.6 % 46,663 4.5 % 45,499 4.6 % EBITDA 44,523 8.9 % 38,985 8.0 % 113,204 10.9 % 88,085 8.8 % Stock-based compensation expense (a) 6,366 1.3 % 5,306 1.1 % 13,388 1.3 % 12,335 1.2 % Asset impairment (b) 2,506 0.5 % — — % 2,506 0.2 % 502 0.1 % ERP and CRM implementation expenses (e) 554 0.1 % 1,846 0.4 % 926 0.1 % 4,161 0.4 % Other (f) 677 0.1 % 31 0.0 % 3,335 0.3 % 5,154 0.5 % Adjusted EBITDA / Adjusted EBITDA Margin $ 54,626 11.0 % $ 46,168 9.5 % $ 133,359 12.8 % $ 110,237 11.1 % Note: Percentages reflect line item as a percentage of net revenue, adjusted for rounding. Some of the percentage totals in the table above may not foot due to rounding differences. Three Months Ended Six Months Ended In thousands, except per share amounts July 4, 2026 June 28, 2025 July 4, 2026 June 28, 2025 Diluted EPS $ 0.15 $ 0.11 $ 0.54 $ 0.29 Stock-based compensation expense (a) 0.08 0.07 0.17 0.15 Asset impairment (b) 0.03 — 0.03 0.01 Amortization of debt discount and deferred financing costs (d) — — 0.01 0.01 ERP and CRM implementation expenses (e) 0.01 0.02 0.01 0.05 Other (f) 0.01 — 0.04 0.07 Tax effects (g) (0.03) (0.02) (0.09) (0.06) Adjusted Diluted EPS $ 0.25 $ 0.18 $ 0.71 $ 0.52 Weighted average diluted shares outstanding 80,597 80,057 81,045 79,658 (a)Non-cash charges related to stock-based compensation programs, which may vary from period to period depending on the timing of awards and performance vesting conditions. (b)Reflects write-off related to non-cash impairment charges of long-lived assets, primarily impairment of property and equipment related to the EGW lab optimization initiative for the three and six months ended July 4, 2026 and impairment of property, equipment and lease-related assets on closed or underperforming stores for the six months ended June 28, 2025. Refer to Note 11. “Restructuring” for more information on the EGW lab optimization initiative. (c)Amortization of the increase in carrying values of finite-lived intangible assets resulting from the application of purchase accounting following the acquisition of the Company by affiliates of KKR & Co. Inc. (d)Amortization of deferred financing costs and other non-cash charges related to our debt. We adjust for amortization of deferred financing costs related to the 2025 Notes only when adjustment for these costs is not required in the calculation of diluted earnings per share under U.S. GAAP. (e)Costs related to the Company’s ERP and CRM implementation. (f)Other adjustments include amounts that management believes are not representative of our operating performance (amounts in brackets represent reductions in Adjusted Operating Income, Adjusted Diluted EPS and Adjusted EBITDA), which are primarily related to shareholder activism costs of $2.1 million for the six months ended June 28, 2025, severance and associate-related costs associated with organizational restructuring of $2.2 million and $2.1 million for the six months ended July 4, 2026 and June 28, 2025, respectively, and restructuring costs related to EGW lab optimization initiative of $0.6 million for the three and six months ended July 4, 2026 (see Note 11. “Restructuring”, for additional information), and other expenses and adjustments. (g)Represents the income tax effect of the total adjustments at our combined statutory federal and state income tax rates, including tax expense (benefit) from stock-based compensation. Liquidity and Capital Resources Our primary cash needs are for inventory, payroll, store rent, advertising, capital expenditures associated with new stores and updating existing stores, as well as information and remote medicine technology and infrastructure, including our corporate office, distribution centers, and laboratories. When appropriate, the Company may utilize excess liquidity towards debt service requirements, including voluntary debt prepayments, or required interest and principal payments, if any, as well as repurchases of common stock or other securities, based on excess cash flows. The most significant 33 Table of Contents components of our operating assets and liabilities are inventories, accounts receivable, prepaid expenses and other assets, accounts payable, deferred and unearned revenue and other payables and accrued expenses. We exercise prudence in our use of cash and closely monitor various items related to cash flow including, but not limited to, cash receipts, cash disbursements, payment terms and alternative sources of funding. We continue to be focused on these items in addition to other key measures we use to determine how our consolidated business and operating segments are performing. We believe that cash on hand, cash expected to be generated from operations and the availability of borrowings under our revolving credit loans in an aggregate principal amount of $300.0 million (the “Revolving Loans”) will be sufficient to fund our working capital requirements, liquidity obligations, anticipated capital expenditures, and payments due under our existing debt for the next 12 months and thereafter for the foreseeable future. Depending on our liquidity levels, conditions in the capital markets and other factors, we may from time to time consider the prepayment, refinancing or issuance of debt, issuance of equity or other securities, the proceeds of which could provide additional liquidity for our operations, modifications to our $231.0 million outstanding principal first lien term loan (“Term Loan A”) where possible, or entry into interest rate derivative agreements to moderate our exposure to fluctuations in interest rates underlying our variable rate debt. Our ability to maintain sufficient liquidity may be affected by a number of factors, many of which are outside of our control. We primarily fund our working capital needs using cash provided by operations. Our working capital requirements for inventory will increase as we continue to open additional stores. As of July 4, 2026, we had $36.0 million in cash and cash equivalents, and $293.3 million of remaining availability under our Revolving Loans, net of $6.7 million in outstanding letters of credit. As of July 4, 2026, we had $231.0 million of Term Loan A outstanding under our credit agreement. We were in compliance with all covenants related to our debt as of July 4, 2026. During the fourth quarter of 2025, we entered into an interest rate swap with a notional amount of $100.0 million to mitigate the variability of cash flows associated with these interest payments. See Note 5. “Interest Rate Derivatives” for additional information. The following table summarizes cash flows provided by (used for) operating activities, investing activities and financing activities for the periods indicated: Six Months Ended In thousands July 4, 2026 June 28, 2025 Cash flows provided by (used for): Operating activities $ 69,815 $ 86,500 Investing activities (34,759) (32,924) Financing activities (38,045) (78,825) Net change in cash, cash equivalents and restricted cash $ (2,989) $ (25,249) Net Cash Provided by Operating Activities Cash flows provided by operating activities decreased by $16.7 million in the six months ended July 4, 2026 compared to the six months ended June 28, 2025, primarily driven by cash flow related to changes in working capital of $57.4 million, which were primarily impacted by increased inventory purchases driven by a shift toward a more premium product mix and incentive-based compensation payments, partially offset by decreased investments in cloud hosted software. These were partially offset by an increase in net income of $20.7 million and an increase in non-cash adjustments of $20.0 million. Net Cash Used for Investing Activities Net cash used for investing activities increased by $1.8 million in the six months ended July 4, 2026 compared to the six months ended June 28, 2025. The year-over-year increase was primarily driven by investments in our retail support centers, partially offset by cash proceeds from the sale of an equity investment and a convertible promissory note investment. Refer to Note 1. “Description of Business and Basis of Presentation” for additional information regarding these investments. Net Cash Used for Financing Activities Net cash used for financing activities decreased by $40.8 million in the six months ended July 4, 2026 compared to the six months ended June 28, 2025, primarily as a result of the repayment of the 2025 Notes in the second quarter of 2025 partially offset by share repurchases as well as increased purchases of treasury stock to cover employee tax withholdings associated with stock-based compensation in the six months ended July 4, 2026. 34 Table of Contents There were no material changes outside the ordinary course of business in our material cash requirements and commercial commitments from those reported in the 2025 Annual Report on Form 10-K. We follow U.S. GAAP in making the determination as to whether to record an asset or liability related to our arrangements with third parties. Consistent with current accounting guidance, we do not record an asset or liability associated with long-term purchase, marketing and promotional commitments, or commitments to philanthropic endeavors. We have disclosed the amount of future commitments associated with these items in the 2025 Annual Report on Form 10-K. We are not a party to any other material off-balance sheet arrangements. Share Repurchase Authority Effective March 2, 2026, the Board authorized the Company to repurchase up to $50 million aggregate amount of shares of the Company’s common stock until December 28, 2030. During the three months ended July 4, 2026, the Company repurchased approximately 1.2 million shares for $20.0 million. As of July 4, 2026, the authorization has remaining capacity of $30.0 million. The authorization permits the Company to make purchases of its common stock from time to time in the open market or privately negotiated transactions, and pursuant to pre-set trading plans meeting the requirements of all applicable securities laws and regulations. The timing and amounts of any such repurchases will depend on a variety of factors, including the market price of the Company’s shares, general market and economic conditions, legal requirements and tax implications. The Company expects to fund the share repurchases using cash on hand. Critical Accounting Policies and Estimates Management has evaluated the accounting policies used in the preparation of the Company’s unaudited condensed consolidated financial statements and related notes and believes those policies to be reasonable and appropriate. Certain of these accounting policies require the application of significant judgment by management in selecting appropriate assumptions for calculating financial estimates. By their nature, these judgments are subject to an inherent degree of uncertainty. These judgments are based on historical experience, trends in the industry, information provided by customers and information available from other outside sources, as appropriate. The most significant areas involving management judgments and estimates may be found in the 2025 Annual Report on Form 10-K, in the “Critical Accounting Policies and Estimates” section of “Management’s Discussion and Analysis of Financial Condition and Results of Operations.” There have been no material changes to our critical accounting policies as compared to the critical accounting policies described in the 2025 Annual Report on Form 10-K. Adoption of New Accounting Pronouncements There have been no material changes due to recently issued or adopted accounting standards since those disclosed in our 2025 Annual Report on Form 10-K.