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Financing Agreements (Tables)

6 Months Ended

Oct. 28, 2023

Debt Disclosure [Abstract]

Schedule of Long-Term Debt Instruments

Long-term debt consists of the following:

			October 28, 2023						April 29, 2023
ABL credit facility/prior line of credit			$	—					$	17,750
Mortgage			14,625						—
Convertible note			25,000						—
Long-term debt, gross			39,625						17,750
Debt issuance costs, net			(948)						—
Change in fair value of convertible note			17,910						—
Current portion			(1,500)						—
Long-term debt, net			$	55,087					$	17,750

The changes in fair value of the Convertible Note during the six months ended October 28, 2023 are as follows:

			Liability Component
			(in thousands)
Balance as of May 11, 2023			$	25,000
Redemption of convertible promissory note			—
Fair Value Change Recognized			17,910
Balance as of October 28, 2023			$	42,910

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)			4.76		%
Implied Yield			19.48		%
Volatility (Annual)			55.00		%
Dividend Yield (Annual)			—		%

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			$	750
2025			1,500
2026			1,500
2027			10,875
2028			25,000
2029 and beyond			—
Total senior secured notes and convertible notes			$	39,625

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