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Financing Agreements (Tables)

3 Months Ended

Jul. 29, 2023

Debt Disclosure [Abstract]

Schedule of Long-Term Debt Instruments

Long-term debt consists of the following:

			July 29, 2023						April 29, 2023
ABL credit facility			$	—					$	—
Prior line of credit			—						17,750
Mortgage			15,000						—
Convertible note			25,000						—
Long-term debt, gross			40,000						17,750
Debt issuance costs			(4,338)						—
Change in fair value of convertible note			7,260						—
Current portion			(1,500)						—
Long-term debt, net			$	41,422					$	17,750

The changes in fair value of the Convertible Note during the quarter ended July 29, 2023 is as follows:

			Liability Component
			(in thousands)
As of May 11, 2023			$	25,000
Redemption of convertible promissory note			—
Fair Value Change Recognized			7,260
As of July 29, 2023			$	32,260

Schedule of Maturities of Long-Term Debt

Aggregate contractual maturities of debt in future fiscal years are as follows:

Fiscal years ending			Amount
Remainder of 2024			$	1,125
2025			1,500
2026			1,500
2027			10,875
2028			25,000
2029 and beyond			—
Total senior secured notes and convertible notes			$	40,000

Fair Value Measurement Inputs and Valuation Techniques

We determined the fair value by using the following key assumptions in the Binomial Lattice Model:

Risk-Free Rate (Annual)			4.34		%
Implied Yield			18.54		%
Volatility (Annual)			55.00		%
Dividend Yield (Annual)			—		%

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