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v3.25.2

Segments (Tables) | 3 Months Ended
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Aug. 02, 2025
Segments |
Schedule of segment results | Prior period segment information has been revised to align with the new segment measure of profitability. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended August 2, 2025
​ |  | AxS |  | SCDE | ​ | Total
Revenue: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Product sales | ​ | $ | 240,744 | ​ | $ | 72,789 | ​ | ​ | ​
Contract services | ​ | ​ | 44,580 | ​ | ​ | 96,563 | ​ | ​ | ​
​ | ​ | ​ | 285,324 | ​ | ​ | 169,352 | ​ | ​ | ​
Less: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cost of sales less intangible amortization and other purchase accounting adjustments | ​ | ​ | 175,047 | ​ | ​ | 147,132 | ​ | ​ | ​
Intangible amortization included in cost of sales | ​ | ​ | 21,982 | ​ | ​ | 15,397 | ​ | ​ | ​
Sales and marketing | ​ | ​ | 29,256 | ​ | ​ | 27,568 | ​ | ​ | ​
General and administrative less intangible amortization | ​ | ​ | 30,486 | ​ | ​ | 1,663 | ​ | ​ | ​
Intangible amortization included in SG&A | ​ | ​ | 11,125 | ​ | ​ | 31,178 | ​ | ​ | ​
Research and development | ​ | ​ | 29,763 | ​ | ​ | 3,351 | ​ | ​ | ​
Add: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Depreciation | ​ | ​ | 7,771 | ​ | ​ | 2,801 | ​ | ​ | ​
Amortization | ​ | ​ | 33,107 | ​ | ​ | 46,575 | ​ | ​ | ​
Acquisition-related expenses | ​ | ​ | 15,553 | ​ | ​ | 8,176 | ​ | ​ | ​
Amortization of cloud computing arrangement implementation | ​ | ​ | 747 | ​ | ​ | 9 | ​ | ​ | ​
Other income (expense) | ​ | ​ | (858) | ​ | ​ | 518 | ​ | ​ | ​
Stock-based compensation | ​ | ​ | 8,775 | ​ | ​ | 2,654 | ​ | ​ | ​
Segment adjusted EBITDA | ​ | $ | 52,760 | ​ | $ | 3,796 | ​ | $ | 56,556
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended July 27, 2024
​ |  | AxS |  | SCDE | ​ | Total
Revenue: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Product sales | ​ | $ | 159,504 | ​ | $ | — | ​ | ​ | ​
Contract services | ​ | ​ | 29,979 | ​ | ​ | — | ​ | ​ | ​
​ | ​ | ​ | 189,483 | ​ | ​ | — | ​ | ​ | ​
Less: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cost of sales less intangible amortization and other purchase accounting adjustments | ​ | ​ | 104,302 | ​ | ​ | — | ​ | ​ | ​
Intangible amortization included in cost of sales | ​ | ​ | 3,714 | ​ | ​ | — | ​ | ​ | ​
Sales and marketing | ​ | ​ | 18,504 | ​ | ​ | ​ | ​ | ​ | ​
General and administrative less intangible amortization | ​ | ​ | 14,231 | ​ | ​ | — | ​ | ​ | ​
Intangible amortization included in SG&A | ​ | ​ | 1,060 | ​ | ​ | — | ​ | ​ | ​
Research and development | ​ | ​ | 24,613 | ​ | ​ | — | ​ | ​ | ​
Add: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Depreciation | ​ | ​ | 4,078 | ​ | ​ | — | ​ | ​ | ​
Amortization | ​ | ​ | 4,774 | ​ | ​ | — | ​ | ​ | ​
Acquisition-related expenses | ​ | ​ | — | ​ | ​ | — | ​ | ​ | ​
Amortization of cloud computing arrangement implementation | ​ | ​ | 644 | ​ | ​ | — | ​ | ​ | ​
Other income (expense) | ​ | ​ | 87 | ​ | ​ | — | ​ | ​ | ​
Stock-based compensation | ​ | ​ | 4,536 | ​ | ​ | — | ​ | ​ | ​
Segment adjusted EBITDA | ​ | $ | 37,178 | ​ | $ | — | ​ | $ | 37,178
Schedule of reconciliation from segment adjusted income from operations to income (loss) before taxes | The following table (in thousands) provides a reconciliation from segment adjusted EBITDA to income before income taxes:
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Three Months Ended
​ | ​ | August 2, |  | July 27,
​ | ​ | 2025 | ​ | 2024
Segment adjusted EBITDA | ​ | $ | 56,556 | ​ | $ | 37,178
Depreciation and amortization | ​ | ​ | (90,254) | ​ | ​ | (8,852)
Acquisition-related expenses | ​ | ​ | (23,729) | ​ | ​ | —
Amortization of cloud computing arrangement implementation | ​ | ​ | (756) | ​ | ​ | (644)
Stock-based compensation | ​ | ​ | (11,429) | ​ | ​ | (4,536)
Equity securities investments activity, net | ​ | ​ | 2,701 | ​ | ​ | (321)
Interest expense | ​ | ​ | (17,415) | ​ | ​ | (239)
(Loss) income before income taxes | ​ | $ | (84,326) | ​ | $ | 22,586
Schedule of segment assets and capital expenditures by segment | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | AxS |  | SCDE |  | Corporate | ​ | Total
As of August 2, 2025 | ​ | $ | 2,219,426 | ​ | $ | 2,360,843 | ​ | $ | 1,043,768 | ​ | $ | 5,624,037
As of April 30, 2025 | ​ | $ | 872,530 | ​ | $ | — | ​ | $ | 248,037 | ​ | $ | 1,120,567
​ Capital expenditures are summarized in the table below (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | AxS |  | SCDE |  | Corporate | ​ | Total
Three Months Ended August 2, 2025 | ​ | $ | 15,178 | ​ | $ | 16,437 | ​ | $ | 453 | ​ | $ | 32,068
Three Months Ended July 27, 2024 | ​ | $ | 4,573 | ​ | $ | — | ​ | $ | 857 | ​ | $ | 5,430
​

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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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