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Investments | 6 Months Ended
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Nov. 01, 2025
Investments |
Investments | 2. Investments ​ Investments consist of the following (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | November 1, | ​ | April 30, | ​
​ |  | 2025 |  | 2025 |
Short-term investments: | ​ | ​ | ​ | ​ | ​ | ​ | ​
Available-for-sale securities: | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. government securities | ​ | ​ | 160,928 | ​ | ​ | — | ​
Corporate securities | ​ | ​ | 68,118 | ​ | ​ | — | ​
Total short-term investments | ​ | ​ | 229,046 | ​ | ​ | — | ​
Long-term investments: | ​ | ​ | ​ | ​ | ​ | ​ | ​
Available-for-sale securities: | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. government securities | ​ | ​ | 35,228 | ​ | ​ | — | ​
Equity securities and warrants | ​ | ​ | 10,055 | ​ | ​ | 1,204 | ​
Total long-term available-for-sale securities investments | ​ |  | 45,283 | ​ |  | 1,204 | ​
Equity method investments | ​ | ​ | ​ | ​ | ​ | ​ | ​
Investments in limited partnership funds | ​ |  | 35,687 | ​ |  | 30,423 | ​
Total equity method investments | ​ |  | 35,687 | ​ |  | 30,423 | ​
Total long-term investments | ​ | $ | 80,970 | ​ | $ | 31,627 | ​
​ Available-For-Sale Securities ​ As of November 1, 2025, the balance of available-for-sale securities consisted of U.S. government securities and high-grade corporate bonds. Interest earned from these investments is recorded in interest income (expense), net. Realized gains on sales of these investments on the basis of specific identification are recorded in interest income (expense), net. As of April 30, 2025, the company held no available-for-sale securities. ​ The following table is a summary of the activity related to the available-for-sale investments recorded in short-term and long-term investments as of November 1, 2025 (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | November 1, 2025
​ | ​ | ​ | ​ | ​ | Gross | ​ | Gross | ​ | ​ | ​
​ | ​ | Amortized | ​ | Unrealized | ​ | Unrealized | ​ | Fair
​ | ​ | Cost |  | Gains | ​ | Losses | ​ | Value
Corporate securities | ​ | $ | 68,185 | ​ | $ | — | ​ | $ | (67) | ​ | $ | 68,118
U.S. government securities | ​ | ​ | 196,232 | ​ | ​ | 5 | ​ | ​ | (81) | ​ | ​ | 196,156
Total available-for-sale securities | ​ | $ | 264,417 | ​ | $ | 5 | ​ | $ | (148) | ​ | $ | 264,274
​ Equity Securities ​ Equity securities and warrants are measured at fair value with net unrealized gains and losses from changes in the fair value recognized in other income (expense), net. Unrealized gain (loss) recorded (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Three Months Ended | ​ | Six Months Ended | ​ | Six Months Ended
​ | ​ | November 1, 2025 | ​ | October 26, 2024 | ​ | November 1, 2025 | ​ | October 26, 2024
Net gain (loss) recognized during the period on equity securities | ​ | $ | 6,150 | ​ | $ | 54 | ​ | $ | 8,851 | ​ | $ | (267)
Less: Net loss recognized during the period on equity securities sold during the period | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Unrealized gain (loss) recognized during the period on equity securities still held at the reporting date | ​ | $ | 6,150 | ​ | $ | 54 | ​ | $ | 8,851 | ​ | $ | (267)
​

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