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Financing Agreements (Tables)

3 Months Ended

Jul. 27, 2024

Debt Disclosure [Abstract]

Schedule of Long-Term Debt Instruments

Long-term debt consists of the following:

			July 27, 2024						April 27, 2024
Mortgage			13,500						13,875
Convertible note			25,000						25,000
Long-term debt, gross			38,500						38,875
Debt issuance costs, net			(668)						(761)
Change in fair value of convertible note			38,140						16,550
Current portion			(1,500)						(1,500)
Long-term debt, net			$	74,472					$	53,164

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

			Liability Component
			(in thousands)
Balance as of April 27, 2024			$	41,550
Redemption of convertible promissory note			—
Fair value change recognized			21,590
Balance as of July 27, 2024			$	63,140

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)			4.19		%
Implied Yield			15.98		%
Volatility (Annual)			45.00		%
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 2025			$	1,125
2026			1,500
2027			10,875
2028			25,000
2029			—
Total debt			$	38,500

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Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

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Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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