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Customer-Funded Research & Development
6 Months Ended
Nov. 01, 2025
Customer-Funded Research & Development  
Customer-Funded Research & Development

13. Customer-Funded Research & Development

Customer-funded R&D costs are incurred pursuant to contracts (revenue arrangements) to perform R&D activities according to customer specifications. These costs are direct contract costs and are expensed to cost of sales as costs are incurred. Revenue from customer-funded R&D contracts is recognized in accordance with ASC 606 over time as costs are incurred. Revenue from customer-funded R&D was approximately $58,304,000 and $119,151,000 for the three and six months ended November 1, 2025. Revenue from customer-funded R&D was approximately $20,280,000 and $38,839,000 for the three and six months ended October 26, 2024.