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Organization and Significant Accounting Policies (Tables)

6 Months Ended

Nov. 01, 2025

Organization and Significant Accounting Policies

Schedule of revenue by category

The following tables present the Company’s revenue disaggregated by segment, contract type, customer category and geographic location (in thousands):


		Three Months Ended						Six Months Ended
		November 1,			October 26,			November 1,			October 26,
Revenue by segment		2025			2024			2025			2024
AxS		$	301,573		$	188,458		$	586,898		$	377,941
SCDE			170,935			—			340,286			—
Total revenue		$	472,508		$	188,458		$	927,184		$	377,941


		Three Months Ended						Six Months Ended
		November 1,			October 26,			November 1,			October 26,
Revenue by contract type		2025			2024			2025			2024
FFP		$	301,508		$	168,752		$	600,485		$	340,620
Cost Plus			131,350			18,810			250,278			35,041
T&M			39,650			896			76,421			2,280
Total revenue		$	472,508		$	188,458		$	927,184		$	377,941


		Three Months Ended						Six Months Ended
		November 1,			October 26,			November 1,			October 26,
Revenue by customer category		2025			2024			2025			2024
U.S. government		$	397,586		$	140,715		$	792,906		$	289,315
Non-U.S. government			74,922			47,743			134,278			88,626
Total revenue		$	472,508		$	188,458		$	927,184		$	377,941

		Three Months Ended						Six Months Ended
		November 1,			October 26,			November 1,			October 26,
Revenue by geographic location		2025			2024			2025			2024
Domestic		$	360,703		$	86,958		$	707,738		$	153,956
International			111,805			101,500			219,446			223,985
Total revenue		$	472,508		$	188,458		$	927,184		$	377,941

Schedule of revenue percentage by recognition method


		Three Months Ended						Six Months Ended
		November 1,			October 26,			November 1,			October 26,
Revenue percentage by recognition method		2025			2024			2025			2024
Over time			73%			58%			74%			50%
Point in time			27%			42%			26%			50%
Total revenue			100%			100%			100%			100%

Schedule of reconciliation of basic to diluted shares

The reconciliation of basic to diluted shares is as follows (in thousands except share data):


			Three Months Ended						Six Months Ended
		November 1, 2025			October 26, 2024			November 1, 2025			October 26, 2024
Net (loss) income		$	(17,103)		$	7,543		$	(84,473)		$	28,709
Denominator for basic (loss) earnings per share:
Weighted average common shares			49,723,280			28,009,963			48,279,447			27,985,425
Dilutive effect of employee stock options, restricted stock and restricted stock units			—			135,627			—			154,517
Denominator for diluted (loss) earnings per share			49,723,280			28,145,590			48,279,447			28,139,942