XML 28 R17.htm IDEA: XBRL DOCUMENT
v3.23.2

Fair Value Measurement | 3 Months Ended
--- | ---
Jul. 29, 2023
Fair Value Disclosures [Abstract] |
Fair Value Measurement | Fair Value Measurement The following table sets forth by level within the fair value hierarchy our financial assets and liabilities that were accounted for at fair value on a recurring basis as of July 29, 2023 and April 29, 2023 according to the valuation techniques we used to determine their fair values. There have been no transfers of assets or liabilities among the fair value hierarchies presented.
| Fair Value Measurements
| Level 1 |  | Level 2 |  | Level 3 |  | Total
Balance as of July 29, 2023 |  |  |  |  |  |  |
Cash and cash equivalents | $ | 45,775 |  |  | $ | — |  |  | $ | — |  |  | $ | 45,775 |
Restricted cash | 8,575 |  |  | — |  |  | — |  |  | 8,575 |
Convertible Note Payable | — |  |  | — |  |  | 32,260 |  |  | 32,260 |
Available-for-sale securities: |  |  |  |  |  |  | — |
US Government sponsored entities | — |  |  | 539 |  |  | — |  |  | 539 |
Derivatives - liability position | — |  |  | (542) |  |  | — |  |  | (542) |
| $ | 54,350 |  |  | $ | (3) |  |  | $ | 32,260 |  |  | $ | 86,607 |
Balance as of April 29, 2023 |  |  |  |  |  |  |
Cash and cash equivalents | $ | 23,982 |  |  | $ | — |  |  | $ | — |  |  | $ | 23,982 |
Restricted cash | 708 |  |  | — |  |  | — |  |  | 708 |
Available-for-sale securities: |  |  |  |  |  |  |
US Government sponsored entities | — |  |  | 534 |  |  | — |  |  | 534 |
Derivatives - liability position | — |  |  | (579) |  |  | — |  |  | (579) |
| $ | 24,690 |  |  | $ | (45) |  |  | $ | — |  |  | $ | 24,645 |
We elected to value the Convertible Note at fair value in accordance with ASC 825-10-15-4(a) because of the embedded derivatives contained in the note. The fair value of the Convertible Note was estimated using a binomial lattice model. Binomial lattice allows for the examination of the value to a holder and understanding the investment decision that would occur at each node. The fair value of the Convertible Note entered into during the first quarter of fiscal 2024 was classified as Level 3 because it does not have readily determinable or observable inputs for the valuation. There have been no other changes in the valuation techniques used by us to value our financial instruments since the end of fiscal 2023. For additional information, see our Annual Report on Form 10-K for the fiscal year ended April 29, 2023 for the methods and assumptions used to estimate the fair value of each class of financial instrument.

X
- References No definition available. + Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
Name: | us-gaap_FairValueDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration