$PRTS

U.S. Auto Parts Network, Inc.

CIK:0001378950|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands

3 Months Ended

6 Months Ended

Jul. 04, 2026

Jun. 28, 2025

Jul. 04, 2026

Jun. 28, 2025

CONSOLIDATED STATEMENTS OF OPERATIONS

Net sales

$ 135,640

$ 151,949

$ 267,601

$ 299,327

Cost of sales

^[1]

90,584

102,170

179,603

202,201

Gross profit

45,056

49,779

87,998

97,126

Operating expense

48,278

62,196

94,273

124,689

Loss from operations

(3,222)

(12,417)

(6,275)

(27,563)

Other income (expense):

Other income, net

393

181

550

441

Interest expense

(386)

(385)

(821)

(642)

Total other income (expense), net

(204)

(271)

(201)

Loss before income taxes

(3,215)

(12,621)

(6,546)

(27,764)

Income tax provision (benefit)

(1,384)

230

Net loss

$ (3,222)

$ (12,711)

$ (5,162)

$ (27,994)

Net loss per share:

Basic net loss per share (in dollars per share)

$ (0.43)

$ (2.27)

$ (0.7)

$ (4.65)

Diluted net loss per share (in dollars per share)

$ (0.43)

$ (2.27)

$ (0.7)

$ (4.65)

Weighted-average common shares outstanding:

Shares used in computation of basic net loss per share (in shares)

7,579

5,589

7,322

6,017

Shares used in computation of diluted net loss per share (in shares)

7,579

5,589

7,322

6,017

[1]	Excludes depreciation and amortization expense which is included in operating expense.

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jul. 04, 2026	Jun. 28, 2025
Operating activities
Net loss	$ (5,162)	$ (27,994)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization expense	8,532	10,460
Amortization of intangible assets	16	27
Noncash interest expense	255	0
Share-based compensation expense	2,243	5,145
Stock awards issued for non-employee director service	24	25
Gain on sale of subsidiary	(2,292)	0
Amortization of deferred financing costs	256	32
Changes in operating assets and liabilities:
Accounts receivable	(3,081)	(1,437)
Inventory	11,262	(3,656)
Other current assets	(89)	921
Other non-current assets	(1,921)	102
Accounts payable and accrued expenses	2,228	(4,701)
Other current liabilities	27	789
Right-of-use obligation - operating leases - current	485	(25)
Right-of-use obligation - operating leases - long-term	(709)	22
Other non-current liabilities	(1,431)	230
Net cash provided by (used in) operating activities	10,643	(20,060)
Investing activities
Additions to property and equipment	(4,405)	(4,408)
Proceeds from sale of subsidiary	300	0
Net cash used in investing activities	(4,105)	(4,408)
Financing activities
Borrowings from revolving loan payable	97	10,213
Payments made on revolving loan payable	(97)	(213)
Payments on finance leases	(1,411)	(1,786)
Net proceeds from issuance of common stock for ESPP	0	96
Proceeds from issuance of common stock	8,000	0
Payment of issuance costs - common stock	(55)	0
Statutory tax withholding payment for share-based compensation	(128)	(465)
Net cash provided by financing activities	6,406	7,845
Effect of exchange rate changes on cash	(594)	0
Net change in cash and cash equivalents	12,350	(16,623)
Cash and cash equivalents, beginning of period	25,821	36,397
Cash and cash equivalents, end of period	38,171	19,774
Supplemental disclosure of non-cash investing and financing activities:
Right-of-use operating asset acquired	2,407	0
Accrued asset purchases	399	469
Share-based compensation expense capitalized in property and equipment	196	502
Supplemental disclosure of cash flow information:
Cash received during the period for income taxes	8	129
Cash paid during the period for interest	531	642
Cash received during the period for interest	$ 426	$ 441

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jul. 04, 2026	Jan. 03, 2026
Current assets:
Cash and cash equivalents	$ 38,171	$ 25,821
Accounts receivable, net	10,142	7,061
Inventory, net	83,918	95,180
Other current assets	6,749	6,996
Total current assets	138,980	135,058
Property and equipment, net	17,289	20,191
Right-of-use - assets - operating leases, net	16,595	18,586
Right-of-use - assets - finance leases, net	5,875	7,233
Other non-current assets	5,233	3,788
Total assets	183,972	184,856
Current liabilities:
Accounts payable	48,092	44,884
Accrued expenses	23,826	24,642
Right-of-use - obligation - operating, current	4,836	4,858
Right-of-use - obligation - finance, current	2,293	2,767
Other current liabilities	4,117	4,090
Total current liabilities	83,164	81,241
Convertible notes payable	25,416	25,161
Right-of-use - obligation - operating, non-current	13,454	15,771
Right-of-use - obligation - finance, non-current	5,141	6,082
Other non-current liabilities	4	3,125
Total liabilities	127,179	131,380
Commitments and contingencies (Note 6)
Stockholders' equity:
Common stock, $0.001 par value; 100,000 shares authorized; 8,058 and 7,005 shares issued and outstanding as of July 4, 2026 and January 3, 2026 (of which 378 are treasury stock)	8	7
Treasury stock	(11,912)	(11,912)
Additional paid-in capital	353,877	344,176
Accumulated other comprehensive income	0	1,223
Accumulated deficit	(285,180)	(280,018)
Total stockholders' equity	56,793	53,476
Total liabilities and stockholders' equity	$ 183,972	$ 184,856