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Income Taxes (Tables)

12 Months Ended

Apr. 27, 2024

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

The following tables reflect the significant components of our income tax provision. The pretax income (loss) attributable to domestic and foreign operations was as follows:

			Year Ended
			April 27, 2024						April 29, 2023						April 30, 2022
Domestic			$	46,763					$	10,125					$	(2,696)
Foreign			7,288						3,132						3,804
Income before income taxes			$	54,051					$	13,257					$	1,108

Schedule of Components of Income Tax Expense (Benefit)

Income tax expense (benefit) consisted of the following:

			Year Ended
			April 27, 2024						April 29, 2023						April 30, 2022
Current:
Federal			$	21,174					$	6,321					$	644
State			5,512						1,381						452
Foreign			1,813						2,273						975
Deferred:
Federal			(8,101)						(3,025)						(1,020)
State			(1,045)						(456)						(476)
Foreign			77						(39)						(59)
			$	19,430					$	6,455					$	516

Schedule of Effective Income Tax Rate Reconciliation

The reconciliation of the provision for income taxes and the amount computed by applying the federal statutory rate to income before income taxes is as follows:

			Year Ended
			April 27, 2024						April 29, 2023						April 30, 2022
Computed income tax expense at federal statutory rates			$	11,351					$	2,784					$	233
State taxes, net of federal benefit			3,771						731						139
Change in fair value on convertible debt			3,476						—						—
Change in valuation allowances			2,076						2,078						609
Research and development tax credit			(1,203)						(684)						(382)
Foreign-Derived Intangible Income (FDII)			(322)						(128)						(5)
Meals and entertainment			282						149						67
Stock compensation			(178)						262						150
Other, net			114						288						(179)
Effect of foreign tax rates different than statutory			79						417						(43)
Change in uncertain tax positions			(35)						(86)						(71)
GILTI			19						6						(14)
Base Erosion Anti-Abuse Tax (BEAT)			—						87						12
Goodwill Impairment			—						551						—
			$	19,430					$	6,455					$	516

Schedule of Deferred Tax Assets and Liabilities

The components of the net deferred tax assets were as follows:

			April 27, 2024						April 29, 2023
Deferred tax assets:
Accrued warranty obligations			$	9,361					$	8,088
Vacation accrual			2,170						1,732
Deferred maintenance revenue			777						484
Allowance for excess and obsolete inventory			3,362						2,779
Equity compensation			234						255
Allowance for credit losses accounts			1,015						928
Inventory capitalization			3,956						1,339
Accrued compensation and benefits			424						395
Unrealized loss on foreign currency exchange			—						206
Net operating loss carry forwards			885						1,024
Outside basis difference in equity method investments			6,295						3,819
Section 174 Capitalization			9,878						5,225
Research and development tax credit carry forwards			72						210
Lease accounting - lease liability			1,038						1,426
Other			630						929
Total deferred tax assets			40,097						28,839
Valuation allowance			(7,197)						(4,900)
Net deferred tax assets			32,900						23,939
Deferred tax liabilities:
Property and equipment			(5,506)						(5,292)
Lease accounting - right of use asset			(1,020)						(1,411)
Prepaid expenses			(477)						(471)
Unrealized gain on foreign currency exchange			(64)						—
Other			(114)						(93)
Total deferred tax liabilities			(7,181)						(7,267)
Net deferred tax asset			$	25,719					$	16,672

The classification of the net deferred tax assets in the accompanying consolidated balance sheets is:

			April 27, 2024						April 29, 2023
Non-current assets			$	25,862					$	16,867
Non-current liabilities			(143)						(195)
			$	25,719					$	16,672

Schedule of Unrecognized Tax Benefits Roll Forward

The summary of changes in the amounts related to unrecognized uncertain tax benefits are:

			April 27, 2024						April 29, 2023
Balance at beginning of year			$	392					$	477
Gross increases related to prior period tax positions			15						12
Gross decreases related to prior period tax positions			(3)						(56)
Gross increases related to current period tax positions			123						124
Lapse of statute of limitations			(171)						(165)
Balance at end of year			$	356					$	392

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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