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Financing Agreements (Tables)

9 Months Ended

Jan. 27, 2024

Debt Disclosure [Abstract]

Schedule of Long-Term Debt Instruments

Long-term debt consists of the following:

			January 27, 2024						April 29, 2023
ABL credit facility/prior line of credit			$	—					$	17,750
Mortgage			14,250						—
Convertible note			25,000						—
Long-term debt, gross			39,250						17,750
Debt issuance costs, net			(854)						—
Change in fair value of convertible note			11,570						—
Current portion			(1,500)						—
Long-term debt, net			$	48,466					$	17,750

The changes in fair value of the Convertible Note during the nine months ended January 27, 2024 are as follows:

			Liability Component
			(in thousands)
Balance as of May 11, 2023			$	25,000
Redemption of convertible promissory note			—
Fair value change recognized			11,570
Balance as of January 27, 2024			$	36,570

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)			4.09		%
Implied Yield			17.24		%
Volatility (Annual)			60.00		%
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			$	375
2025			1,500
2026			1,500
2027			10,875
2028			25,000
2029 and beyond			—
Total debt			$	39,250

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