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Segments (Tables) | 6 Months Ended
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Oct. 26, 2024
Segments |
Schedule of segment results | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended October 26, 2024
​ |  | UxS |  | LMS |  | MW | ​ | Total
Revenue: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Product sales | ​ | $ | 79,147 | ​ | $ | 71,930 | ​ | $ | 154 | ​ | $ | 151,231
Contract services | ​ | ​ | 6,269 | ​ | ​ | 5,785 | ​ | ​ | 25,173 | ​ | ​ | 37,227
​ | ​ | $ | 85,416 | ​ | $ | 77,715 | ​ | $ | 25,327 | ​ | $ | 188,458
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Segment adjusted gross margin | ​ | $ | 41,363 | ​ | $ | 30,157 | ​ | $ | 5,838 | ​ | $ | 77,358
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Depreciation and amortization | ​ | $ | 6,910 | ​ | $ | 868 | ​ | $ | 1,224 | ​ | $ | 9,002
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended October 28, 2023
​ |  | UxS |  | LMS |  | MW | ​ | Total
Revenue: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Product sales | ​ | $ | 120,955 | ​ | $ | 23,982 | ​ | $ | 842 | ​ | $ | 145,779
Contract services | ​ | ​ | 11,818 | ​ | ​ | 6,267 | ​ | ​ | 16,952 | ​ | ​ | 35,037
​ | ​ | $ | 132,773 | ​ | $ | 30,249 | ​ | $ | 17,794 | ​ | $ | 180,816
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Segment adjusted gross margin | ​ | $ | 65,613 | ​ | $ | 9,345 | ​ | $ | 3,604 | ​ | $ | 78,562
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Depreciation and amortization | ​ | $ | 6,428 | ​ | $ | 617 | ​ | $ | 1,392 | ​ | $ | 8,437
Schedule of reconciliation from segment adjusted income from operations to income (loss) before taxes | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Six Months Ended October 26, 2024
​ |  | UxS |  | LMS |  | MW |  | Total
Revenue: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Product sales | ​ | $ | 191,448 | ​ | $ | 119,110 | ​ | $ | 177 | ​ | $ | 310,735
Contract services | ​ | ​ | 13,944 | ​ | ​ | 10,578 | ​ | ​ | 42,684 | ​ | ​ | 67,206
​ | ​ | $ | 205,392 | ​ | $ | 129,688 | ​ | $ | 42,861 | ​ | $ | 377,941
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Segment adjusted gross margin | ​ | $ | 108,596 | ​ | $ | 43,429 | ​ | $ | 10,513 | ​ | $ | 162,538
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Depreciation and amortization | ​ | $ | 13,810 | ​ | $ | 1,669 | ​ | $ | 2,375 | ​ | $ | 17,854
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Six Months Ended October 28, 2023
​ |  | UxS |  | LMS |  | MW |  | Total
Revenue: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Product sales | ​ | $ | 214,186 | ​ | $ | 49,307 | ​ | $ | 1,757 | ​ | $ | 265,250
Contract services | ​ | ​ | 16,794 | ​ | ​ | 11,859 | ​ | ​ | 39,260 | ​ | ​ | 67,913
​ | ​ | $ | 230,980 | ​ | $ | 61,166 | ​ | $ | 41,017 | ​ | $ | 333,163
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Segment adjusted gross margin | ​ | $ | 116,039 | ​ | $ | 21,668 | ​ | $ | 8,912 | ​ | $ | 146,619
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Depreciation and amortization | ​ | $ | 11,581 | ​ | $ | 1,176 | ​ | $ | 2,630 | ​ | $ | 15,387
​ ​ The following table (in thousands) provides a reconciliation from segment adjusted gross margin to income before income taxes:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Three Months Ended | ​ | Six Months Ended | ​ | Six Months Ended
​ | ​ | October 26, |  | October 28, | ​ | October 26, |  | October 28,
​ | ​ | 2024 | ​ | 2023 | ​ | 2024 | ​ | 2023
Segment adjusted gross margin | ​ | $ | 77,358 | ​ | $ | 78,562 | ​ | $ | 162,538 | ​ | $ | 146,619
Amortization in cost of sales | ​ | ​ | (3,720) | ​ | ​ | (3,212) | ​ | ​ | (7,433) | ​ | ​ | (5,609)
Selling, general and administrative | ​ | ​ | (37,916) | ​ | ​ | (28,147) | ​ | ​ | (71,711) | ​ | ​ | (51,974)
Research and development | ​ | ​ | (28,716) | ​ | ​ | (22,025) | ​ | ​ | (53,329) | ​ | ​ | (37,491)
Interest expense, net | ​ | ​ | (690) | ​ | ​ | (1,950) | ​ | ​ | (929) | ​ | ​ | (3,958)
Other expense, net | ​ | ​ | 16 | ​ | ​ | (2,858) | ​ | ​ | (218) | ​ | ​ | (3,987)
Income before income taxes | ​ | $ | 6,332 | ​ | $ | 20,370 | ​ | $ | 28,918 | ​ | $ | 43,600
Schedule of identifiable assets by segment | Identifiable segment assets are summarized in the table below. Corporate assets primarily consist of cash and cash equivalents, prepaid expenses and other current assets, long-term investments, property and equipment, net, operating lease right-of-use assets, deferred income taxes and other assets managed centrally on behalf of the business segments. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | UxS |  | LMS |  | MW |  | Corporate | ​ | Total
As of October 26, 2024 | ​ | $ | 505,008 | ​ | $ | 238,316 | ​ | $ | 55,394 | ​ | $ | 220,367 | ​ | $ | 1,019,085
As of April 30, 2024 | ​ | $ | 590,619 | ​ | $ | 165,413 | ​ | $ | 50,767 | ​ | $ | 209,061 | ​ | $ | 1,015,860
​

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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