Smith & Wesson Brands (SWBI) 10-K 17 Jun 21 2021 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Apr. 30, 2021	Jun. 15, 2021	Oct. 30, 2020
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Apr. 30, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Entity Registrant Name	Smith & Wesson Brands, Inc.
Entity Central Index Key	0001092796
Current Fiscal Year End Date	--04-30
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity File Number	1-31552
Entity Incorporation, State or Country Code	NV
Entity Tax Identification Number	87-0543688
Entity Address, Address Line One	2100 Roosevelt Avenue
Entity Address, City or Town	Springfield
Entity Common Stock, Shares Outstanding		47,999,397
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	01104
City Area Code	800
Local Phone Number	331-0852
Document Annual Report	true
Document Transition Report	false
ICFR Auditor Attestation Flag	false
Entity Public Float			$ 919,699,515
Title of each Class	Common Stock, Par Value $.001 per Share
Trading Symbol	SWBI
Name of exchange on which registered	NASDAQ
Documents Incorporated by Reference	Portions of the registrant’s definitive proxy statement for the 2021 Annual Meeting of Stockholders are incorporated by reference into Part III of this Form 10-K.

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Apr. 30, 2021	Apr. 30, 2020
Current assets:
Cash and cash equivalents	$ 113,017	$ 125,011
Accounts receivable, net of allowances for credit losses of $107 on April 30, 2021 and $1,038 on April 30, 2020	67,442	60,879
Inventories	78,477	103,741
Prepaid expenses and other current assets	8,408	7,556
Current assets of discontinued operations		94,673
Income tax receivable	909	1,595
Total current assets	268,253	393,455
Property, plant, and equipment, net	141,612	147,739
Intangibles, net	4,417	4,375
Goodwill	19,024	19,024
Other assets of discontinued operations		148,485
Other assets	13,082	16,437
Assets, Total	446,388	729,515
Current liabilities:
Accounts payable	57,337	31,476
Accrued expenses and deferred revenue	33,136	57,678
Accrued payroll and incentives	17,381	12,448
Accrued income taxes	1,157	5,503
Accrued profit sharing	14,445	2,197
Accrued warranty	2,199	3,297
Current liabilities of discontinued operations		17,372
Total current liabilities	125,655	129,971
Deferred income taxes	904	457
Notes and loans payable, net of current portion		159,171
Finance lease payable, net of current portion	38,786	39,873
Other non-current liabilities of discontinued operations		2,299
Other non-current liabilities	14,659	10,626
Total liabilities	180,004	342,397
Commitments and contingencies (Note 17)
Stockholders’ equity:
Preferred stock, $.001 par value, 20,000,000 shares authorized, no shares issued or outstanding
Common stock, $.001 par value, 100,000,000 shares authorized, 74,222,127 issued and 49,937,329 shares outstanding on April 30, 2021 and 73,526,790 shares issued and 55,359,928 shares outstanding on April 30, 2020	74	74
Additional paid-in capital	273,431	267,630
Retained earnings	325,181	341,716
Accumulated other comprehensive income	73	73
Treasury stock, at cost (24,284,798 shares on April 30, 2021 and 18,166,862 on April 30, 2020)	(332,375)	(222,375)
Total stockholders’ equity	266,384	387,118
Liabilities and Equity, Total	$ 446,388	$ 729,515

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Apr. 30, 2021	Apr. 30, 2020
Statement Of Financial Position [Abstract]
Allowance for credit losses	$ 107	$ 1,038
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	20,000,000	20,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	74,222,127	73,526,790
Common stock, shares outstanding	49,937,329	55,359,928
Treasury stock, shares	24,284,798	18,166,862

Consolidated Statements of Inco

Consolidated Statements of Income/(Loss) and Comprehensive Income/(Loss) - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Apr. 30, 2021	Apr. 30, 2020	Apr. 30, 2019
Income Statement [Abstract]
Net sales	$ 1,059,195	$ 529,618	$ 481,336
Cost of sales	610,212	363,929	335,052
Gross profit	448,983	165,689	146,284
Operating expenses:
Research and development	7,480	7,364	8,008
Selling, marketing, and distribution	42,603	41,987	27,693
General and administrative	79,268	66,033	67,066
Total operating expenses	129,351	115,384	102,767
Operating income from continuing operations	319,632	50,305	43,517
Other income/(expense), net:
Other income/(expense), net	2,252	495	477
Interest expense, net	(3,919)	(11,625)	(9,790)
Total other income/(expense), net	(1,667)	(11,130)	(9,313)
Income from continuing operations before income taxes	317,965	39,175	34,204
Income tax expense	74,394	11,522	9,284
Income from continuing operations	243,571	27,653	24,920
Discontinued operations:
Income/(loss) from discontinued operations, net of tax	8,478	(88,883)	(6,510)
Net income/(loss)	252,049	(61,230)	18,410
Comprehensive income/(loss):
Other comprehensive loss, net of tax		(547)	(1,069)
Comprehensive income/(loss):	$ 252,049	$ (61,777)	$ 17,341
Net income/(loss) per share:
Basic - continuing operations	$ 4.46	$ 0.50	$ 0.46
Basic - net income/(loss)	4.62	(1.11)	0.34
Diluted - continuing operations	4.40	0.50	0.45
Diluted - net income/(loss)	$ 4.55	$ (1.10)	$ 0.33
Weighted average number of common shares outstanding:
Basic	54,613	54,983	54,483
Diluted	55,352	55,665	55,216

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Total	Accounting Standards Update, Adjustment	Common Stock	Additional Paid-In Capital	Retained Earnings	Retained EarningsAccounting Standards Update, Adjustment	Accumulated Other Comprehensive Income/(Loss)	Treasury Stock
Balance at Apr. 30, 2018	$ 422,148		$ 72	$ 253,616	$ 389,146		$ 1,689	$ (222,375)
Balance (in shares) at Apr. 30, 2018			72,434,000
Treasury stock, shares at Apr. 30, 2018								18,167,000
Proceeds from exercise of employee stock options	$ 304			304
Proceeds from exercise of employee stock options (in shares)	48,399		48,000
Stock-based compensation - continuing operations	$ 6,947			6,947
Stock-based compensation - discontinued operations	1,045			1,045
Shares issued under employee stock purchase plan	1,918			1,918
Shares issued under employee stock purchase plan (in shares)			231,000
Change in unrealized loss on interest rate swap, net of tax effect	(1,069)						(1,069)
Stockholders Equity at Apr. 30, 2019	444,444	$ (4,610)	$ 73	263,180	402,946	$ (4,610)	620	$ (222,375)
Treasury stock, shares at Apr. 30, 2019								18,167,000
Issuance of common stock under restricted stock unit awards, net of shares surrendered	(649)		$ 1	(650)
Issuance of common stock under restricted stock unit awards, net of shares surrendered (in shares)			151,000
Net income/(loss)	18,410				18,410
Balance (in shares) at Apr. 30, 2019			72,864,000
Proceeds from exercise of employee stock options	$ 254			254
Proceeds from exercise of employee stock options (in shares)	67,094		67,000
Stock-based compensation - continuing operations	$ 2,357			2,357
Stock-based compensation - discontinued operations	564			564
Shares issued under employee stock purchase plan	1,873			1,873
Shares issued under employee stock purchase plan (in shares)			380,000
Change in unrealized loss on interest rate swap, net of tax effect	(547)						(547)
Stockholders Equity at Apr. 30, 2020	$ 387,118		$ 74	267,630	341,716		73	$ (222,375)
Treasury stock, shares at Apr. 30, 2020	18,166,862							18,167,000
Issuance of common stock under restricted stock unit awards, net of shares surrendered	$ (597)		$ 1	(598)
Issuance of common stock under restricted stock unit awards, net of shares surrendered (in shares)			216,000
Net income/(loss)	$ (61,230)				(61,230)
Balance (in shares) at Apr. 30, 2020	55,359,928		73,527,000
Proceeds from exercise of employee stock options	$ 1,540			1,540
Proceeds from exercise of employee stock options (in shares)	200,667		201,000
Stock-based compensation - continuing operations	$ 4,706			4,706
Stock-based compensation - discontinued operations	184			184
Shares issued under employee stock purchase plan	1,614			1,614
Shares issued under employee stock purchase plan (in shares)			205,000
Stockholders Equity at Apr. 30, 2021	$ 266,384		$ 74	273,431	325,181		$ 73	$ (332,375)
Treasury stock, shares at Apr. 30, 2021	24,284,798							24,285,000
Issuance of common stock under restricted stock unit awards, net of shares surrendered	$ (2,243)			$ (2,243)
Issuance of common stock under restricted stock unit awards, net of shares surrendered (in shares)			289,000
Repurchase of treasury stock	(110,000)							$ (110,000)
Repurchase of treasury stock, shares								6,118,000
Dividends issued	(8,223)				(8,223)
Spin off of outdoor products and accessories business	(260,361)				(260,361)
Net income/(loss)	$ 252,049				$ 252,049
Balance (in shares) at Apr. 30, 2021	49,937,329		74,222,000

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2021	Apr. 30, 2020	Apr. 30, 2019
Cash flows from operating activities:
Income from continuing operations	$ 243,571	$ 27,653	$ 24,920
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	31,575	31,972	29,046
(Gain)/loss on sale/disposition of assets	154	419	(460)
Provision for losses on notes and accounts receivable	(739)	(585)	1,027
Deferred income taxes	447	(260)	409
Change in fair value of contingent consideration		100
Stock-based compensation expense	4,706	2,357	6,947
Changes in operating assets and liabilities:
Accounts receivable	(5,824)	(198)	(29,075)
Inventories	25,264	(911)	7,670
Prepaid expenses and other current assets	(852)	(3,124)	1,436
Income taxes	(3,643)	6,196	1,781
Accounts payable	25,540	4,043	4,566
Accrued payroll and incentives	4,933	(5,831)	10,075
Accrued profit sharing	12,248	(355)	1,386
Accrued expenses and deferred revenue	(24,633)	21,755	(6,528)
Accrued warranty	(1,098)	(1,126)	(680)
Other assets	1,579	1,131	(967)
Other non-current liabilities	4,032	(2,401)	(455)
Cash provided by operating activities - continuing operations	317,260	80,835	51,098
Cash (used in)/provided by operating activities - discontinued operations	(1,926)	13,901	6,001
Net cash provided by operating activities	315,334	94,736	57,099
Cash flows from investing activities:
Refunds on machinery and equipment	310
Receipts from note receivable		786	74
Payments to acquire patents and software	(632)	(429)	(211)
Proceeds from sale of property and equipment	113		1,336
Payments to acquire property and equipment	(22,052)	(12,441)	(30,895)
Cash used by investing activities - continuing operations	(22,261)	(12,084)	(29,696)
Cash used by investing activities - discontinued operations	(1,143)	(1,874)	(5,131)
Net cash used in investing activities	(23,404)	(13,958)	(34,827)
Cash flows from financing activities:
Proceeds from loans and notes payable	25,000	228,225	50,000
Cash paid for debt issuance costs	(450)	(875)
Payments on finance lease obligation	(996)	(900)	(741)
Payments on notes and loans payable	(185,000)	(224,600)	(81,300)
Distribution to discontinued operations	(25,000)
Payments to acquire treasury stock	(110,000)
Dividend distribution	(8,223)
Proceeds from exercise of options to acquire common stock, including employee stock purchase plan	3,154	2,127	2,222
Payment of employee withholding tax related to restricted stock units	(2,243)	(597)	(649)
Cash (used in)/provided by financing activities - continuing operations	(303,758)	3,380	(30,468)
Cash used in financing activities - discontinued operations	(166)
Net cash (used in)/provided by financing activities	(303,924)	3,380	(30,468)
Net (decrease)/increase in cash and cash equivalents	(11,994)	84,158	(8,196)
Cash and cash equivalents, beginning of period	125,011	40,853	49,049
Cash and cash equivalents, end of period	113,017	125,011	40,853
Supplemental disclosure of cash flow information Cash paid for:
Interest	3,306	11,103	9,473
Income taxes	80,874	6,935	10,567
Supplemental Disclosure of Non-cash Investing and Financing Activities:
Purchases of property and equipment included in accounts payable	746	436	565
Change in fair value of interest rate swap			1,393
Purchase of property and equipment funded by capital lease			24,271
Capital lease obligation			24,271
Changes in note receivable			$ 1,007
Machinery and equipment on deposit placed into service	$ 1,855
ASU 2016-02
Supplemental disclosure of cash flow information Cash paid for:
Changes in other assets for operating lease obligations		11,821
Change in property and equipment		3,276
Changes in finance lease liabilities		(4,245)
Changes in lease liabilities for operating lease obligations		$ 12,790

Organization

Organization	12 Months Ended
	Apr. 30, 2021
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Organization	1. Organization We are one of the world’s leading manufacturers and designers of firearms. We manufacture a wide array of handguns (including revolvers and pistols), long guns (including modern sporting rifles, bolt action rifles, and muzzleloaders), handcuffs, suppressors, and other firearm-related products for sale to a wide variety of customers, including firearm enthusiasts, collectors, hunters, sportsmen, competitive shooters, individuals desiring home and personal protection, law enforcement and security agencies and officers, and military agencies in the United States and throughout the world. We sell our products under the Smith & Wesson, M&P, Thompson/Center Arms, and Gemtech brands. We manufacture our products at our facilities in Springfield, Massachusetts; Houlton, Maine; and Deep River, Connecticut. We also sell our manufacturing services to other businesses to level-load our factories. We sell those services under our Smith & Wesson and Smith & Wesson Precision Components brands. On November 13, 2019, we announced that we were proceeding with a plan to spin-off our outdoor products and accessories business and create an independent publicly traded company to conduct that business, or the Separation. On August 24, 2020, or the Distribution Date, we completed the previously announced Separation. See also Note 3 — Discontinued Operations

Significant Accounting Policies

Significant Accounting Policies	12 Months Ended
	Apr. 30, 2021
Accounting Policies [Abstract]
Significant Accounting Policies	2. Significant Accounting Policies Use of Estimates — The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the financial statement dates and the reported amounts of revenue and expenses during the reporting periods. Our significant estimates include the accrual for warranty, reserves for excess and obsolete inventory, rebates and other promotions, and valuation of intangible assets. Actual results could differ from those estimates. Principles of Consolidation — The accompanying consolidated financial statements include the accounts of Smith & Wesson Brands, Inc. and its wholly owned subsidiaries, including Smith & Wesson Inc., Smith & Wesson Sales Company, and SWPC Plastics, LLC. In our opinion, all adjustments, which include only normal recurring adjustments necessary to fairly present the financial position, results of operations, changes in stockholders’ equity, and cash flows at April 30, 2021 and 2020 and for the periods presented, have been included. All intercompany accounts and transactions have been eliminated in consolidation. Fair Value of Financial Instruments — Unless otherwise indicated, the fair values of all reported assets and liabilities, which represent financial instruments not held for trading purposes, approximate the carrying values of such amounts because of their short-term nature or market rates of interest. Cash and Cash Equivalents — We consider all highly liquid investments purchased with original maturities of three months or less at the date of acquisition to be cash equivalents. We maintain our cash in bank deposit accounts that, at times, may exceed federally insured limits. We have not experienced any losses in such accounts. As of April 30, 2021, all of our accounts exceeded federally insured limits. Financial Instruments — We account for derivative instruments under Accounting Standards Codification (“ASC”) 815-10, , which establishes accounting and reporting standards for derivative instruments and hedging activities and requires us to recognize these instruments as either assets or liabilities on the balance sheet and measure them at fair value. As of April 30, 2021, we did not have any Level 2 financial instruments within the hierarchy. See Note 6 – for more information regarding our financial instruments. Trade Receivables — We extend credit to our domestic customers and some foreign distributors based on their financial condition. We sometimes offer discounts for early payment on invoices. When we believe the extension of credit is not advisable, we rely on either a prepayment or a letter of credit. We write off balances deemed uncollectible by us against our allowance for doubtful accounts. We estimate our allowance for doubtful accounts through current past due balances, knowledge of our customers’ financial situations, and past payment history. Concentrations of Credit Risk — Financial instruments that potentially subject us to concentration of credit risk consist principally of cash, cash equivalents, and trade receivables. We place our cash and cash equivalents in overnight U.S. government securities. Concentrations of credit risk with respect to trade receivables are limited by the large number of customers comprising our customer base and their geographic and business dispersion. We perform ongoing credit evaluations of our customers’ financial condition and generally do not require collateral. For the year ended April 30, 2021, four of our customers exceeded 10% of our net sales and accounted for approximately 45.0% of our net sales. Two of these customers each accounted for more than 10% of our accounts receivable for a total of 28.4%. For the fiscal year ended April 30, 2020, four of our customers accounted for more than 10% of our net sales and accounted for approximately 43.9% of our net sales and three customers accounted for approximately 45.3% of our accounts receivable. For the fiscal year ended April 30, 2019, one of our customers accounted for 10.4% of our net sales and one of our customers accounted for 23.1% of our accounts receivable. Inventories — We value inventories at the lower cost, using the first-in, first-out, or FIFO method, or net realizable value. An allowance for potential non-saleable inventory due to excess stock or obsolescence is based upon a detailed review of inventory, past history, and expected future usage. Property, Plant, and Equipment — We record property, plant, and equipment, consisting of land, building, improvements, machinery, equipment, software, hardware, furniture, and fixtures, at cost and depreciate them using the straight-line method over their estimated useful lives. We charge expenditures for maintenance and repairs to earnings as incurred, and we capitalize additions, renewals, and betterments. Upon the retirement or other disposition of property and equipment, we remove the related cost and accumulated depreciation from the respective accounts and include any gain or loss in operations. We lease certain of our real estate, machinery, photocopiers, and vehicles under non-cancelable operating lease agreements, and we recognize expenses under our operating lease assets and liabilities at the commencement date based on the present value of lease payments over the lease term. The depreciable life of assets and leasehold improvements are based on the expected life of the lease. A summary of the estimated useful lives is as follows: Description Useful Life Building and improvements 10 to 40 years Software and hardware 2 to 7 years Machinery and equipment 2 to 10 years We include tooling, dies, and fixtures as part of machinery and equipment and depreciate them over a period generally not exceeding ten years. Intangible Assets — We record intangible assets at cost or based on the fair value of the assets acquired. Intangible assets consist of developed technology, customer relationships, trademarks, trade names, and patents. We amortize intangible assets over their estimated useful lives or in proportion to expected yearly revenue generated from the intangibles that were acquired. Revenue Recognition — We recognize revenue in accordance with the provisions of Accounting Standards Update, or ASU, , which became effective for us on May 1, 2018. Generally, all performance obligations are satisfied and revenue is recognized when the risks and rewards of ownership have transferred to the customer, which is generally upon shipment but could be delayed until the receipt of customer acceptance. In some instances, sales include multiple performance obligations. The most common of these instances relates to sales promotion programs under which customers are entitled to receive free goods based upon their purchase of our products, which we have identified as a material right. The fulfillment of these free goods is our responsibility. In such instances, we allocate the revenue of the promotional sales based on the estimated level of participation in the sales promotional program and the timing of the shipment of all of the products included in the promotional program, including the free goods. We recognize r evenue related to the material right proportionally as each performance obligation is satisfied. The net change in contract liabilities for a given period is reported as an increase or decrease to sales. We generally sell our products free on board, or FOB, shipping point and provide payment terms to most commercial customers ranging from 20 to 90 days of product shipment with a discount available to some customers for early payment. Generally, framework contracts define the general terms of sales, including payment terms, freight terms, insurance requirements, and cancelation provisions. Purchase orders define the terms for specific sales, including description, quantity, and price of each product purchased. We estimate variable consideration relative to the amount of cash discounts to which customers are likely to be entitled. In some instances, we provide longer payment terms, particularly as it relates to our fall dating programs for hunting sales, which represent payment terms due in the fall for certain orders of hunting products received in the spring and summer. As a result of utilizing practical expedience upon the adoption of ASC 606, we do not consider these extended terms to be a significant financing component of the contract because the payment terms are less than one year. In all cases, we consider our costs related to shipping and handling to be a cost of fulfilling the contract with the customer. Research and Development — We engage in both internal and external research and development, or R&D, in order to remain competitive and to exploit possible untapped market opportunities. We approve prospective R&D projects after analysis of the cost and benefits associated with the potential product. Costs in R&D expense include, among other items, salaries, materials, utilities, and administrative costs. Earnings/(Loss) per Share — We calculate basic and diluted earnings/(loss) per common share in accordance with the provisions of ASC 260-10, . Basic earnings/(loss) per common share equals net income/(loss) divided by the weighted average number of common shares outstanding during the period. Diluted earnings/(loss) per common share equals net income/(loss) divided by the weighted average number of common shares outstanding during the period, including the effect of outstanding stock options and other stock-based instruments if their effect is dilutive. The following table provides a reconciliation of the net income/(loss) amounts and weighted average number of common and common equivalent shares used to determine basic and diluted earnings/(loss) per common share (in thousands, except per share data): For the Year Ended April 30, 2021 2020 2019 Net income/(loss) Income from continuing operations $ 243,571 $ 27,653 $ 24,920 Income/(loss) from discontinued operations 8,478 (88,883 ) (6,510 ) Net income/(loss) $ 252,049 $ (61,230 ) $ 18,410 Weighted average shares outstanding — Basic 54,613 54,983 54,483 Effect of dilutive stock awards 739 682 733 Weighted average shares outstanding — Diluted 55,352 55,665 55,216 Earnings/(loss) per share — Basic Income from continuing operations $ 4.46 $ 0.50 $ 0.46 Income/(loss) from discontinued operations $ 0.16 $ (1.62 ) $ (0.12 ) Net income/(loss) $ 4.62 $ (1.11 ) $ 0.34 Earnings/(loss) per share — Diluted Income from continuing operations $ 4.40 $ 0.50 $ 0.45 Income/(loss) from discontinued operations $ 0.15 $ (1.60 ) $ (0.12 ) Net income/(loss) $ 4.55 $ (1.10 ) $ 0.33 All of our outstanding stock options and restricted stock units, or RSUs, were included in the computation of diluted earnings per share for the years ended April 30, 20 21 and 20 20 . Valuation of Long-lived Tangible and Intangible Assets — We evaluate the recoverability of long-lived assets, or asset groups, whenever events or changes in circumstances indicate that carrying amounts may not be recoverable. When such evaluations indicate that the related future undiscounted cash flows are not sufficient to recover the carrying values of the assets, such carrying values are reduced to fair value and this adjusted carrying value becomes the asset’s new cost basis. We determine fair value primarily using future anticipated cash flows that are directly associated with and are expected to arise as a direct result of the use and eventual disposition of the asset, or asset group, discounted using an interest rate commensurate with the risk involved. We have significant long-lived tangible and intangible assets, which are susceptible to valuation adjustments as a result of changes in various factors or conditions. The most significant long-lived tangible and intangible assets, other than goodwill, are property, plant, and equipment, developed technology, customer relationships, patents, trademarks, and trade names. We amortize all finite-lived intangible assets either on a straight-line basis or based upon patterns in which we expect to utilize the economic benefits of such assets. We initially determine the values of intangible assets by a risk-adjusted, discounted cash flow approach. We assess the potential impairment of identifiable intangible assets and fixed assets whenever events or changes in circumstances indicate that the carrying values may not be recoverable and at least annually. Factors we consider important, which could trigger an impairment of such assets, include the following: • significant underperformance relative to historical or projected future operating results; • significant changes in the manner or use of the assets or the strategy for our overall business; • significant negative industry or economic trends; • a significant decline in our stock price for a sustained period; and • a decline in our market capitalization below net book value. Future adverse changes in these or other unforeseeable factors could result in an impairment charge that could materially impact future results of operations and financial position in the reporting period identified. In accordance with ASC 350, Intangibles-Goodwill and Other, We review the fair value of our goodwill based on financial performance annually. As of our last valuation date, February 1, 2021, we had $19.0 million of goodwill and its fair value significantly exceeded its carrying value, based on EBITDAS, cashflow, and market capitalization. Our assumptions related to the development of fair value could deviate materially from actual results and forecasts used to support asset carrying values may change in the future, which could result in non-cash charges that would adversely affect our financial results of operations The re-measurement of goodwill is classified as a Level 3 fair value assessment as described in Note 13 - Fair Value Measurement, Income Taxes — We use the asset and liability approach for financial accounting and reporting income taxes. The provision for income taxes is based upon income reported in the accompanying consolidated financial statements as required by ASC 740-10, We determine deferred tax assets and liabilities based on temporary differences between financial reporting and tax bases in assets and liabilities and measure them by applying enacted rates and laws expected to be in place when the deferred items become subject to income tax or deductible for income tax purposes. We recognize the effect on deferred taxes and liabilities of a change in tax rates in the period that includes the enactment date. In assessing the realization of our deferred income tax assets, we consider whether it is more likely than not that the deferred income tax assets will be realized. The ultimate realization of our deferred income tax assets depends upon generating future taxable income during the periods in which our temporary differences become deductible and before our net operating loss carryforwards expire. We evaluate the recoverability of our deferred income tax assets by assessing the need for a valuation allowance on a quarterly basis. If we determine that it is more likely than not that our deferred income tax assets will not be recovered, we establish a valuation allowance against some or all of our deferred income tax assets. Recording or reversing a valuation allowance could have a significant effect on our future results of operations and financial position. Warranty — We generally provide a limited one-year warranty and a lifetime service policy to the original purchaser of our new firearm products. We either provide a limited one-year, or a limited-lifetime warranty to the original purchaser of most of our products. We will also repair or replace certain products or parts found to be defective under normal use and service with an item of equivalent value, at our option, without charge during the warranty period. We quantify and record an estimate for warranty-related costs based on our actual historical claims experience and current repair costs. We adjust accruals as warranty claims data and historical experience warrant. Should we experience actual claims and repair costs that are higher than the estimated claims and repair costs used to calculate the provision, our operating results for the period or periods in which such returns or additional costs materialize would be adversely impacted. From time to time, we have experienced certain manufacturing and design issues with respect to some of our firearms and have initiated some product recalls and safety alerts. In October 2020, we initiated a recall for certain models of our M&P Shield EZ pistols manufactured between March 1, 2020 and October 31, 2020 because some hammers manufactured by our supplier were cracked and could potentially cause a discharge without depressing the trigger. The remaining estimated cost of all recalls, safety alerts, and consumer advisories is $323,000, which is recorded in accrued warranty on our consolidated balance sheet. The remaining balance relates to a general accrual related to standard warranty costs for products shipped in the ordinary course of business. Warranty expense for the fiscal years ended April 30, 2021, 2020, and 2019 amounted to $5.2 million, $1.8 million, and $2.7 million, respectively. The following table sets forth the change in accrued warranties, a portion of which is recorded as a non-current liability, in the fiscal years ended April 30, 2021, 2020, and 2019 (in thousands): Balance as of April 30, 2019 5,026 Warranties issued and adjustments to provisions 1,757 Warranty claims (2,887 ) Balance as of April 30, 2020 3,896 Warranties issued and adjustments to provisions 5,163 Warranty claims (3,366 ) Balance as of April 30, 2021 $ 5,693 Sales and Promotional Related Expenses — We present product sales in our consolidated financial statements, net of customer promotional program costs that depend upon the volume of sales. For promotional program costs that do not depend on the volume of sales, we record promotional costs in cost of goods sold. The total of all our promotional programs amounted to $10.5 million, $43.6 million, and $39.2 million for the fiscal years ended April 30, 2021, 2020, and 2019, respectively. We have a co-op advertising program at the retail level. We expensed costs amounting to $15.2 million, $9.2 million, and $8.0 million for fiscal 2021, 2020, and 2019, respectively, as selling and marketing expenses. Shipping and Handling — In the accompanying consolidated financial statements, we included amounts billed to customers for shipping and handling in net sales. Beginning in fiscal 2020, inbound freight charges and internal transfer costs are included in cost of goods sold; however, costs incurred to distribute products to customers is included in selling, marketing, and distribution expenses. As a result of this change, we recorded $4.4 million of costs in selling, marketing, and distribution expenses that would have been recorded in cost of sales in fiscal 2019. Prior to fiscal 2020, we included costs relating to shipping and handling charges, including inbound freight charges, internal transfer costs, and the other costs of our distribution network, in cost of goods sold. Insurance Reserves — In January 2020, we formed a wholly owned captive insurance company, which provides product liability insurance to us and our subsidiaries. This captive insurance company was recorded in our consolidated financial statements for the fiscal year ended April 30, 2021 and 2020. We are self-insured through retentions or deductibles for the majority of our workers’ compensation, automobile, general liability, product liability, and group health insurance programs. Self-insurance amounts vary up to $10.0 million per occurrence; however, we believe the likelihood of reaching the maximum per occurrence limit is remote. We record our liability for estimated premiums and incurred losses in the accompanying consolidated financial statements on an undiscounted basis. Recently Issued Accounting Standards — In February 2016, the Financial Accounting Standards Board, or FASB, issued ASU 2016-02, Leases (Topic 842), or ASU 2016-02, which amends the existing guidance to require lessees to recognize right-of-use assets and lease liabilities in a classified balance sheet. The most prominent among the changes in the standard is the requirement for lessees to recognize right-of-use assets and lease liabilities for those leases classified as operating leases under current GAAP. The requirements of ASU 2016-02 are effective for financial statements for annual periods beginning after December 15, 2018, and early adoption is permitted. We used the optional transitional method allowed by ASU 2018-11, (Topic 842): Targeted Improvements. Under this method, we applied the standard using the modified retrospective method with an adoption date of May 1, 2019. We elected to use the package of practical expedients, which permits us to not reassess certain lease contract provisions. We adopted ASU 2016-02 effective May 1, 2019 and recognized right-of-use assets of $11.5 million and lease liabilities of $12.8 million. The difference between the right-of-use assets and the lease liabilities of $1.3 million is a result of the reclassification of deferred rent and lease incentive liabilities primarily relating to our real estate operating leases into the right-of use assets, which had no impact to retained earnings. See also Note 4 — Leases, for more information. In June 2016, the Financial Accounting Standards Board issued Accounting Standards Update, or ASU, 2016-13, Financial Instruments — Credit Losses In December 2019, the FASB issued ASU No. 2019-12, " Income Taxes

Discontinued Operations

Discontinued Operations	12 Months Ended
	Apr. 30, 2021
Discontinued Operations And Disposal Groups [Abstract]
Discontinued Operations	3. Discontinued Operations On November 13, 2019, we announced the Separation. On the Distribution Date, at 12:01 a.m. Eastern Time, we completed the Separation of our wholly owned subsidiary, American Outdoor Brands, Inc., a Delaware corporation, or AOUT, from our company. The Separation was treated as tax-free for U.S. federal income tax purposes and was achieved through the transfer of all the assets and legal entities, subject to any related liabilities, associated with our outdoor products and accessories business to AOUT, or the Transfer, and the distribution of 100% of the AOUT outstanding capital stock to holders of our common stock, or the Distribution, as of the close of business on August 10, 2020, or the Record Date. In connection with the Distribution, our stockholders received one share of AOUT common stock for every four shares of our common stock held as of the close of business on the Record Date. Following the Distribution, AOUT became an independent, publicly traded company, and we retain no ownership interest in AOUT. During the fiscal year ended April 30, 2021, we recorded $8.4 million in general and administrative expenses related to the Separation and there was no gain/(loss) recognized for the Separation. In connection with the Separation, we distributed $25.0 million in cash to AOUT. Our common stock continues to trade on the Nasdaq Global Select Market under the new ticker symbol “SWBI,” and AOUT common stock is now trading on the Nasdaq Global Select Market under the ticker symbol “AOUT.” The outdoor products and accessories business historical financial data is recorded as discontinued operations. Please refer to our Current Report on Form 8-K filed on August 26, 2020 for more information regarding the Separation. As a result of the Separation, we divested net assets of $260.4 million, which included the $25.0 million cash distribution to AOUT. The results of AOUT were previously reported in our Outdoor Products & Accessories segment. The historical financial data of the outdoor products and accessories business through August 23, 2020 is recorded as discontinued operations in income/(loss) from discontinued operations in the condensed consolidated financial statements. During the fiscal year ended April 30, 2021, 2020, and 2019, income/(loss) from discontinued operations, net of tax was $8.5 million, ($88.9) million, and ($6.5) million, respectively. In connection with the Separation, we entered into several agreements with AOUT that govern the relationship of the parties following the Separation, including the Separation and Distribution Agreement, the Tax Matters Agreement, the Transition Services Agreement, and the Employee Matters Agreement. Under the terms of the Transition Services Agreement, both companies agreed to provide each other certain transitional services, including information technology, information management, human resources, employee benefits administration, facilities, and other limited finance and accounting related services, for periods up to 24 months. Payments for transition services are recorded in other income/(expense) in our condensed consolidated financial statements. The following table summarizes the major line items for the outdoor products and accessories business that are included in income/(loss) from discontinued operations, net of tax, in the condensed consolidation statements of income/(loss) and comprehensive income/(loss): For the Years Ended April 30, 2021 2020 2019 (In thousands) Net revenues $ 61,249 $ 148,776 $ 156,942 Cost of sales 27,147 79,760 76,994 Operating expenses 23,458 168,140 85,408 Interest income/(expense), net 112 21 (6 ) Other income/(expense), net — (21 ) — Income/(loss) from discontinued operations before income taxes $ 10,756 $ (99,124 ) $ (5,466 ) Income tax expense/(benefit) 2,278 (10,241 ) 1,044 Income/(loss) from discontinued operations, net of tax $ 8,478 $ (88,883 ) $ (6,510 ) The following table summarizes the carrying amounts of major classes of assets and liabilities of discontinued operations for each of the periods presented: As of: April 30, 2021 April 30, 2020 (In thousands) Cash and cash equivalents $ — $ 387 Accounts receivable, net — 32,554 Inventories — 60,450 Prepaid expenses and other current assets — 1,282 Property, plant, and equipment, net — 9,678 Intangible assets, net — 69,379 Goodwill — 64,581 Deferred income taxes — 2,950 Other assets — 1,897 Total assets of discontinued operations $ — $ 243,158 Current liabilities $ — $ 17,372 Other non-current liabilities — 2,299 Total liabilities of discontinued operations $ — $ 19,671

Leases

Leases	12 Months Ended
	Apr. 30, 2021
Leases [Abstract]
Leases	4. Leases We lease certain of our real estate, machinery, photocopiers, and vehicles under non-cancelable operating lease agreements. We recognize expenses for our operating lease assets and liabilities at the commencement date based on the present value of lease payments over the lease term. Our leases do not provide an implicit interest rate. We use our incremental borrowing rate based on the information available at the lease commencement date in determining the present value of lease payments. Our lease agreements do not require material variable lease payments, residual value guarantees, or restrictive covenants. For operating leases, we recognize expense on a straight-line basis over the lease term. Tenant improvement allowances are recorded as an offsetting adjustment included in our calculation of the respective right-of-use asset. Many of our leases include renewal options that enable us to extend the lease term. The execution of those renewal options is at our sole discretion and renewals are reflected in the lease term when they are reasonably certain to be exercised. The depreciable life of assets and leasehold improvements are limited by the expected lease term. The amounts of assets and liabilities related to our operating and financing leases as of April 30, 2021 were as follows (in thousands): Balance Sheet Caption April 30, 2021 Operating Leases Right-of-use assets $ 7,126 Accumulated amortization (2,363 ) Right-of-use assets, net Other assets $ 4,763 Current liabilities Accrued expenses and deferred revenue $ 1,309 Non-current liabilities Other non-current liabilities 3,630 Total operating lease liabilities $ 4,939 Finance Leases Right-of-use assets $ 40,986 Accumulated depreciation (4,231 ) Right-of-use assets, net Property, plant, and equipment, net $ 36,755 Current liabilities Accrued expenses and deferred revenue $ 1,087 Non-current liabilities Finance lease payable, net of current portion 38,786 Total finance lease liabilities $ 39,873 During the fiscal year ended April 30, 2021, we recorded $1.8 million of operating lease costs, of which $216,000 related to short-term leases that were not recorded as right-of-use assets. We recorded $2.1 million of finance lease amortization and $2.0 million of financing lease interest expense during fiscal 2021. As of April 30, 2021, our weighted average lease term and weighted average discount rate for our operating leases was 4.1 years and 4.5%, respectively. As of April 30, 2021, our weighted average lease term and weighted average discount rate for our financing leases were 17.5 years and 5.0%, respectively, and consisted primarily of our distribution center located in Columbia, Missouri. The building is pledged to secure the amounts outstanding. The depreciable lives of right-of-use assets are limited by the lease term and are amortized on a straight-line basis over the life of the lease With the completion of the Separation, we entered into a sublease under which AOUT subleases from us 59.0% of our distribution center under the same terms applicable to us under the master lease. During the fiscal year ended April 30, 2021, we recorded $1.7 million of income related to this sublease agreement, which is recorded in other income/(expense) in our condensed consolidated statements of income/(loss) and comprehensive income/(loss). The following table represents future expected undiscounted cashflows, based on the sublease agreement to AOUT, to be received on an annual basis for the next five years and thereafter, as of April 30, 2021 (in thousands): Fiscal Amount 2022 $ 1,864 2023 1,897 2024 1,930 2025 1,964 2026 1,998 Thereafter 28,546 Total future sublease receipts 38,199 Less amounts representing interest (13,335 ) Present value of sublease receipts $ 24,864 Future lease payments for all our operating and finance leases for succeeding fiscal years is as follows (in thousands): Operating Financing Total 2022 $ 1,549 $ 3,056 $ 4,605 2023 1,557 3,071 4,628 2024 1,549 3,125 4,674 2025 330 3,180 3,510 2026 311 3,235 3,546 Thereafter 404 45,548 45,952 Total future lease payments 5,700 61,215 66,915 Less amounts representing interest (761 ) (21,342 ) (22,103 ) Present value of lease payments 4,939 39,873 44,812 Less current maturities of lease liabilities (1,309 ) (1,087 ) (2,396 ) Long-term maturities of lease liabilities $ 3,630 $ 38,786 $ 42,416 During the fiscal year ended April 30, 2021, the cash paid for amounts included in the measurement of the liabilities and the operating cash flows was $4.7 million

Revenue Recognition and Contrac

Revenue Recognition and Contracts with Customers	12 Months Ended
	Apr. 30, 2021
Revenue From Contract With Customer [Abstract]
Revenue Recognition and Contracts with Customers	5. Revenue Recognition and Contracts with Customers We record our outstanding performance obligations related to sales promotions in accordance with ASU 2014-09, Revenue from Contracts with Customers (Topic 606) Net Sales. The following table outlines changes in the balance of our outstanding performance obligations during the year ended April 30, 2021, and 2020 (in thousands): 2021 2020 Outstanding performance obligations at beginning of period $ 14,744 $ 12,213 Revenue recognized (14,957 ) (48,576 ) Revenue deferred 3,120 51,107 Outstanding performance obligations at end of period $ 2,907 $ 14,744 During fiscal 2021, we recognized $15.0 million of deferred revenue, of which $13.7 million was previously deferred as of April 30, 2020, as the performance obligations relating to sales promotions were satisfied. This recognition of revenue was partially offset by $3.1 million of additional deferred revenue for outstanding performance obligations incurred during fiscal 2021. This resulted in a $11.8 million net increase in revenue recognized during fiscal 2021. We estimate that the majority of the revenue from outstanding performance obligations as of April 30, 2021 will be recognized during our first half of fiscal 2022. During fiscal 2020, we recognized $48.6 million of deferred revenue, of which $10.5 million was previously deferred as of April 30, 2019, as the performance obligations relating to sales promotions were satisfied. This recognition of revenue was partially offset by $51.1 million of additional deferred revenue for outstanding performance obligations incurred during fiscal 2020. This resulted in a $2.5 million net decrease in revenue recognized during fiscal 2020.

Notes, Loans Payable, and Finan

Notes, Loans Payable, and Financing Arrangements	12 Months Ended
	Apr. 30, 2021
Debt Disclosure [Abstract]
Notes, Loans Payable, and Financing Arrangements	6. Notes, Loans Payable, and Financing Arrangements Credit Facilities — On August 24, 2020, we and certain of our subsidiaries entered into an amended and restated credit agreement, or the Amended and Restated Credit Agreement, with certain lenders; including TD Bank, N.A., as administrative agent; TD Securities (USA) LLC and Regions Bank, as joint lead arrangers and joint bookrunners; and Regions Bank, as syndication agent. The Amended and Restated Credit Agreement amended and restated out former credit agreement dated as of June 15, 2015. The Amended and Restated Credit Agreement is currently unsecured; however, should any Springing Lien Trigger Event (as defined in the Amended and Restated Credit Agreement) occur, we and certain of our subsidiaries would be required to enter into certain documents that create in favor of TD Bank, N.A., as administrative agent, and the lenders party to such documents a legal, valid, and enforceable ‎first priority Lien on the Collateral described therein. The Amended and Restated Credit Agreement provides for a revolving line of credit of $100.0 million at any one time, or the Revolving Line. The Revolving Line bears interest at either the Base Rate or LIBOR rate, plus an applicable margin based on our consolidated leverage ratio. The Amended and Restated Credit Agreement also provides a swingline facility in the maximum amount of $5.0 million at any one time (subject to availability under the Revolving Line). Each Swingline Loan (as defined in the Amended and Restated Credit Agreement) bears interest at the Base Rate, plus an applicable margin based on our consolidated leverage ratio. Subject to the satisfaction of certain terms and conditions described in the Amended and Restated Credit Agreement, we have an option to increase the Revolving Line by an aggregate amount not exceeding $50.0 million. The Revolving Line matures on the earlier of August 24, 2025, or the date that is six months in advance of the earliest maturity of any Permitted Notes under the Amended and Restated Credit Agreement. As of April 30, 2021, we did not have any borrowings outstanding on the Revolving Line. Had there been borrowings, they would have borne an interest rate of 1.61%, which is equal to the LIBOR rate plus an applicable margin. The Amended and Restated Credit Agreement contains customary limitations, including limitations on indebtedness, liens, fundamental changes to business or organizational structure, investments, loans, advances, guarantees, and acquisitions, asset sales, dividends, stock repurchases, stock redemptions, and the redemption or prepayment of other debt, and transactions with affiliates. We are also subject to financial covenants, including a minimum consolidated fixed charge coverage ratio and a maximum consolidated leverage ratio, all of which were met as of April 30, 2021. Letters of Credit – At April 30, 2021, we had outstanding letters of credit aggregating $2.7 million, which included a $1.5 million letter of credit to collateralize our captive insurance company Debt Issuance Costs — We recorded, in notes payable, $450,000 of debt issuance costs during the fiscal year ended April 30, 2021 and wrote off $689,000 of debt issuance costs remaining from the $875,000 of debt issuance costs incurred during the fiscal year ended April 30, 2020. We did not record any debt issuance costs during the fiscal year ended April 30, 2019. These remaining costs are being amortized to expense over the life of the credit facility. In total, we amortized $890,553, $687,000, and $431,000 to interest expense for all debt issuance costs in fiscal 2021, 2020, and 2019, respectively, including write-offs related to extinguishment.

Net Sales

Net Sales	12 Months Ended
	Apr. 30, 2021
Disclosure Net Sales [Abstract]
Net Sales	7. Net Sales The following table sets forth the breakdown of net sales for the fiscal years ended April 30, 2021, 2020, and 2019 (in thousands): For the Years Ended April 30, 2021 2020 2019 Handguns $ 755,735 $ 390,711 $ 336,901 Long Guns 253,340 101,540 107,717 Other Products & Services 50,120 37,367 36,718 Total Net Sales $ 1,059,195 $ 529,618 $ 481,336 We sell our products and services under our Smith & Wesson, M&P, Gemtech, Thompson/Center Arms, and Smith & Wesson Precision Components brands. Depending upon the product or service, our customers primarily include distributors; federal, state, and municipal law enforcement agencies and officers; government and military agencies; businesses; and retailers. We sell our products worldwide. The following table sets forth the breakdown of export net sales included in the above table. Our export net sales accounted for 2%, 4%, and 5% of total net sales for the fiscal years ended April 30, 2021, 2020, and 2019, respectively (in thousands): For the Years Ended April 30, Region 2021 2020 2019 Europe $ 5,742 $ 6,280 $ 9,724 Asia 7,255 6,022 3,441 Latin America 4,473 2,284 3,105 All others international 4,382 5,129 10,012 Total international net sales $ 21,852 $ 19,715 (a) $ 26,282 (a) Our international sales were negatively impacted in our fourth fiscal quarter of 2020 as a result of the COVID-19 pandemic.

Advertising Costs

Advertising Costs	12 Months Ended
	Apr. 30, 2021
Marketing And Advertising Expense [Abstract]
Advertising Costs	8. Advertising Costs We expense advertising costs, primarily consisting of magazine advertisements, printed materials, and television advertisements, either as incurred or upon the first occurrence of the advertising. Advertising expense, included in selling and marketing expenses, for the fiscal years ended April 30, 2021, 2020, and 2019, amounted to $12.5 million, $13.6 million, and $13.4 million, respectively.

Property, Plant, and Equipment

Property, Plant, and Equipment	12 Months Ended
	Apr. 30, 2021
Property Plant And Equipment [Abstract]
Property, Plant, and Equipment	9. Property, Plant, and Equipment The following table summarizes property, plant, and equipment as of April 30, 2021 and 2020 (in thousands): April 30, 2021 April 30, 2020 Machinery and equipment $ 284,947 $ 266,018 Software and hardware 46,648 45,710 Building and improvements 36,525 34,132 Land and improvements 2,817 3,787 Right of use assets 40,986 40,986 411,923 390,633 Less: Accumulated depreciation and amortization (277,862 ) (249,621 ) 134,061 141,012 Construction in progress 7,551 6,727 Total property, plant, and equipment, net $ 141,612 $ 147,739 Depreciation of tangible assets and amortization of software expense amounted to $30.1 million, $30.5 million, and $28.1 million for the fiscal years ended April 30, 2021, 2020, and 2019, respectively. The following table summarizes depreciation and amortization expense, which includes amortization of intangibles and debt financing costs, by line item for the fiscal years ended April 30, 2021, 2020, and 2019 (in thousands): For the Years Ended April 30, 2021 2020 2019 Cost of sales $ 21,026 $ 21,142 $ 20,760 Research and development 519 584 545 Selling and marketing 533 446 530 General and administrative (a) 8,606 9,113 6,780 Interest expense 891 687 431 Total depreciation and amortization $ 31,575 $ 31,972 $ 29,046 (a) General and administrative expenses included $330,644, $344,527, and $286,261 of amortization for the fiscal years ended April 30, 2021, 2020, and 2019, respectively, which were recorded as a result of our acquisitions.

Inventories

Inventories	12 Months Ended
	Apr. 30, 2021
Inventory Disclosure [Abstract]
Inventories	10. Inventories The following table sets forth a summary of inventories, net of reserves, stated at lower of cost or market, as of April 30, 2021 and 2020 (in thousands): April 30, 2021 April 30, 2020 Finished goods $ 21,528 $ 60,400 Finished parts 41,738 29,619 Work in process 7,918 6,787 Raw material 7,293 6,935 Total inventories $ 78,477 $ 103,741

Accrued Expenses and Deferred R

Accrued Expenses and Deferred Revenue	12 Months Ended
	Apr. 30, 2021
Payables And Accruals [Abstract]
Accrued Expenses and Deferred Revenue	11. Accrued Expenses and Deferred Revenue The following table sets forth other accrued expenses as of April 30, 2021 and 2020 (in thousands): April 30, 2021 April 30, 2020 Accrued taxes other than income (a) $ 12,210 $ 21,256 Accrued employee benefits 4,780 4,407 Accrued other 3,451 5,456 Deferred revenue (b) 2,907 14,744 Accrued professional fees 2,804 3,675 Accrued distributor incentives 2,414 2,253 Accrued rebates and promotions 2,174 3,335 Current portion of operating lease obligation 1,309 1,506 Current portion of finance lease obligation 1,087 1,046 Total accrued expenses and deferred revenue $ 33,136 $ 57,678 (a) Decrease in accrued taxes other than income is due to the deferral of federal excise tax payments allowed by the Tax and Trade Bureau as a result of the COVID-19 pandemic as of April 30, 2020 . (b) Decrease in deferred revenue due to the fulfillment of performance obligations related to promotional activity.

Fair Value Measurement

Fair Value Measurement	12 Months Ended
	Apr. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurement	12. Fair Value Measurement We follow the provisions of ASC 820-10, Fair Value Measurements and Disclosures Topic Financial assets and liabilities recorded on the accompanying consolidated balance sheets are categorized based on the inputs to the valuation techniques as follows: Level 1 — Financial assets and liabilities whose values are based on unadjusted quoted prices for identical assets or liabilities in an active market that we have the ability to access at the measurement date (examples include active exchange-traded equity securities, listed derivatives, and most U.S. Government and agency securities). Our cash and cash equivalents, which are measured at fair value on a recurring basis, totaled $113.0 million and $125.0 million as of April 30, 2021 and 2020, respectively. We utilized Level 1 of the value hierarchy to determine the fair values of these assets. Level 2 — Financial assets and liabilities whose values are based on quoted prices in markets in which trading occurs infrequently or whose values are based on quoted prices of instruments with similar attributes in active markets. Level 2 inputs include the following: • quoted prices for identical or similar assets or liabilities in non-active markets (such as corporate and municipal bonds which trade infrequently); • inputs other than quoted prices that are observable for substantially the full term of the asset or liability (such as interest rate and currency swaps); and • inputs that are derived principally from or corroborated by observable market data for substantially the full term of the asset or liability (such as certain securities and derivatives). Level 3 — Financial assets and liabilities whose values are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. These inputs reflect our assumptions about the assumptions a market participant would use in pricing the asset or liability. We currently do not have any Level 2 or Level 3 financial assets or liabilities as of April 30, 2021.

Self-Insurance Reserves

Self-Insurance Reserves	12 Months Ended
	Apr. 30, 2021
Commitments And Contingencies Disclosure [Abstract]
Self-Insurance Reserves	13. Self-Insurance Reserves As of April 30, 2021 and 2020, we had reserves for workers’ compensation, product liability, municipal liability, and medical/dental costs totaling $9.5 million and $9.0 million, respectively, of which $5.0 million and $4.5 million, respectively, was classified as other non-current liabilities. As of April 30, 2021 and 2020, $4.5 million and $4.5 million, respectively, were included in accrued expenses on the accompanying consolidated balance sheets. In addition, as of April 30, 2021 and 2020, $614,000 and $620,000, respectively, of workers’ compensation recoverable was classified as other assets. While we believe these reserves to be adequate, it is possible that the ultimate liabilities will exceed such estimates. The following table summarizes the activity in the workers’ compensation, product liability, municipal liability, and medical/dental reserves in the fiscal years ended April 30, 2021 and 2020 (in thousands): For the Year Ended April 30, 2021 2020 Beginning balance $ 9,011 $ 8,423 Additional provision charged to expense 2,484 19,608 Payments (2,026 ) (19,020 ) Ending balance $ 9,469 $ 9,011 It is our policy to provide an estimate for loss as a result of expected adverse findings or legal settlements on product liability, municipal liability, workers’ compensation, and other matters when such losses are probable and are reasonably estimable. It is also our policy to accrue for reasonable estimable legal costs associated with defending such litigation. While such estimates involve a range of possible costs, we determine, in consultation with counsel, the most likely cost within such range on a case-by-case basis. We also record receivables from insurance carriers relating to these matters when their collection is probable. As of April 30, 2021 and 2020, we had accrued reserves for product and municipal litigation liabilities of $4.0 million and $3.7 million, respectively (of which $2.9 million and $2.6 million, respectively, was non-current), consisting entirely of expected legal defense costs. In addition, as of April 30, 2021, we did not record any receivables from insurance carriers related to these liabilities. During fiscal 2020, we had recorded receivables from insurance carriers related to these liabilities of $1.9 million, nearly all of which has been classified as other assets.

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Apr. 30, 2021
Equity [Abstract]
Stockholders' Equity	14. Stockholders’ Equity Treasury Stock During fiscal 2021, our board of directors authorized the repurchase of up to $50.0 million of our common stock, subject to certain conditions, in the open market, or privately negotiated transactions until December 14, 2021. During fiscal 2021, we completed this stock repurchase program by purchasing 2,737,489 shares of common stock for $50.0 million utilizing cash on hand. On March 2, 2021, our board of directors authorized the repurchase of an additional $100.0 million of our common stock, subject to certain condition, in the open market, or in privately negotiated transaction until March 1, 2022. Pursuant to the second authorization, during fiscal 2021, we purchased 3,380,447 shares of our common stock for $60.0 million using cash on hand. Subsequent to fiscal 2021, we completed the second stock repurchase program by purchasing 1,967,420 of our common stock for $40.0 million utilizing cash on hand. Incentive Stock and Employee Stock Purchase Plans We have two stock incentive plans, or SPs: the 2004 Incentive Stock Plan and the 2013 Incentive Stock Plan. New grants under the 2004 Incentive Stock Plan have not been made since the approval of the 2013 Incentive Stock Plan at our September 23, 2013 annual meeting of stockholders. All new grants covering all participants are issued under the 2013 Incentive Stock Plan. The remaining grants under the 2004 Incentive Stock Plan were exercised in the fiscal year ended, April 30, 2021. The 2013 Incentive Stock Plan authorizes the issuance of 3,000,000 shares, plus any shares that were reserved and remained available for grant and delivery under the 2004 Incentive Stock Plan as of September 23, 2013, the effective date of the 2013 Incentive Stock Plan. The plan permits the grant of options to acquire common stock, restricted stock awards, RSUs, stock appreciation rights, bonus stock and awards in lieu of obligations, performance awards, and dividend equivalents. Our board of directors, or a committee established by our board, administers the SPs, selects recipients to whom awards are granted, and determines the grants to be awarded. Options granted under the SPs are exercisable at a price determined by our board or committee at the time of grant, but in no event, less than fair market value of our common stock on the date granted. Grants of options may be made to employees and directors without regard to any performance measures. All options issued pursuant to the SPs are generally nontransferable and subject to forfeiture. Unless terminated earlier by our board of directors, the 2013 Incentive Stock Plan will terminate at the earliest of (1) the tenth anniversary of the effective date of the 2013 Stock Plan, or (2) such time as no shares of common stock remain available for issuance under the plan and we have no further rights or obligations with respect to outstanding awards under the plan. The date of grant of an award is deemed to be the date upon which our board of directors or board committee authorizes the granting of such award. Except in specific circumstances, grants vest over a period of four years and grants of stock options are exercisable for a period of 10 years. The plan also permits the grant of awards to non-employees, which our board of directors or committee has authorized in the past. The number of shares and weighted average exercise prices of options for the fiscal years ended April 30, 2021, 2020, and 2019 are as follows: For the Year Ended April 30, 2021 2020 2019 Weighted Weighted Weighted Average Average Average Shares Exercise Price Shares Exercise Price Shares Exercise Price Options outstanding, beginning of year 200,667 $ 7.70 267,761 $ 6.76 316,160 $ 6.69 Exercised during the period (200,667 ) 7.67 (67,094 ) 3.97 (48,399 ) 6.28 Canceled/forfeited during period — — — — — Options outstanding, end of period — — 200,667 $ 7.70 267,761 $ 6.76 Weighted average remaining contractual life — 0.43 years 2.35 years Options exercisable, end of period — — 200,667 $ 7.70 267,761 $ 6.76 Weighted average remaining contractual life — 0.43 years 2.35 years As of April 30, 2021, there were 3,967,603 shares available for grant under the 2013 Incentive Stock Plan. We use our unissued share pool for all shares issued for options, restricted stock awards, or RSUs, performance share units, performance-based restricted stock units, or PSUs, and shares issued under our Employee Stock Purchase Plan, or ESPP. In connection with the spin-off of AOUT, as of August 24, 2020, there was one option award outstanding that could be converted into 10,000 shares of SWBI common stock. Under the terms of the Employee Matters Agreement between us and AOUT, the holder of the outstanding SWBI options was granted a pro rata number of AOUT options with the price of the SWBI options reduced at a pro rata value to the amount of awards granted of AOUT options. Incremental compensation expense associated with this change in the award was immaterial and recognized fully in fiscal 2021. There were no outstanding and exercisable stock options as of April 30, 2021. The aggregate intrinsic value of outstanding and exercisable stock options as of April 30, 2020 and 2019 was $356,000, $826,000, respectively. The aggregate intrinsic value of the options exercised for the years ended April 30, 2021, 2020, and 2019 was $2.9 million, $260,000, and $285,000, respectively. The following table summarizes stock compensation expense by line item for the fiscal years ended April 30, 2021, 2020, and 2019 (in thousands): For the Years Ended April 30, 2021 2020 2019 Cost of sales $ 740 $ 667 $ 694 Research and development 71 79 62 Selling and marketing 767 155 337 General and administrative 3,128 1,456 5,854 Total stock-based compensation $ 4,706 $ 2,357 (a) $ 6,947 (a) The decrease in general and administrative stock-based compensation expense from fiscal 2019 was because of the separation of our former President and Chief Executive Officer. We grant service-based RSUs to employees, consultants, and directors. The awards are made at no cost to the recipient. An RSU represents the right to acquire one share of our common stock and does not carry voting or dividend rights. Except in specific circumstances, RSU grants to employees generally vest over a period of three or four years with one-third one-fourth one-twelfth In connection with the spin-off of AOUT, we adjusted outstanding RSU awards in accordance with the terms of the Employee Matters Agreement between us and AOUT. For directors and certain executives, a pro rata number of RSUs were issued of AOUT RSUs with terms that matched original SWBI RSU. For all other employees, we adjusted the underlying shares of outstanding RSUs to preserve the intrinsic value of the awards immediately before the spin-off. The adjustment of the underlying shares was determined using a ratio based on the relative values of the SWBI pre-distribution stock value and the SWBI post-distribution stock value. The outstanding awards continue to vest over their original vesting periods. We will recognize $380,000 of incremental compensation expense costs related to the adjustment of PSUs, and $740,000 of compensation expense related to the adjustment of RSUs, for a total of $1.1 million. During the fiscal year, we recognized expense of $738,000 relating to total incremental compensation cost. We grant PSUs to our executive officers. At the time of grant, we calculate the fair value of our PSUs using the Monte-Carlo simulation. We incorporate the following variables into the valuation model: For the Years Ended April 30, 2021 2020 2019 Grant date fair market value Smith & Wesson Brands, Inc $ 16.99 - 17.27 $ 7.80 $ 9.85 Russell 2000 Index $ 1,526.46 - 1,571.21 $ 1,138.78 $ 1,591.21 Volatility (a) Smith & Wesson Brands, Inc 59.09% - 61.34% 54.02 % 45.19 % Russell 2000 Index 27.62% - 29.27% 24.66 % 15.65 % Correlation coefficient (b) 0.1242 - 0.1302 0.11 0.14 Risk-free interest rate (c) 0.16% - 0.22% 0.35 % 2.23 % Dividend yield (d) 0.95 % 0 % 0 % (a) Expected volatility is calculated over the most recent period that represents the remaining term of the performance period as of the valuation date, or three years. (b) The correlation coefficient utilizes the same historical price data used to develop the volatility assumptions. (c) The risk-free interest rate is based on the yield of a zero-coupon U.S. Treasury bill, commensurate with the three-year (d) We did not pay dividends in fiscal 2020 and 2019. The PSUs vest, and the fair value of such PSUs are recognized, over the corresponding three-year In connection with the spin-off of AOUT and in accordance with the terms of the Employee Matters Agreement between us and AOUT, all outstanding PSU awards were adjusted such that the performance criteria relative to SWBI share price was modified to compare the market cap of SWBI for the 90 days subsequent to the original grant date to the combined market cap of SWBI and AOUT for the 90 days preceding the original vest date. The change in the market cap will be compared to the change in the value of the Russell 2000 index for the same period. In addition, a pro rata number of AOUT PSUs were granted at the time of the spin to each SWBI PSU recipient with the same terms as the underlying original SWBI PSU. In connection with the retirement of our former chief financial officer, 50,200 PSUs were converted to RSUs for immediate delivery during the fiscal year. In certain circumstances, the vested awards will be delivered on the first anniversary of the applicable vesting date. We have applied a discount to the grant date fair value when determining the amount of compensation expense to be recorded for these RSUs and PSUs. During the fiscal year ended April 30, 2021, we granted 36,308 PSUs to certain of our executive officers. We also granted 234,007 service-based RSUs during the year ended April 30, 2021, including 68,461 RSUs to certain of our executive officers, 25,570 RSUs to our directors, and 139,976 RSUs to non-executive officer employees. Compensation expense recognized related to grants of RSUs and PSUs was $3.4 million for the fiscal year ended April 30, 2021. During the fiscal year ended April 30, 2021, we canceled 88,365 service-based RSUs, of which 57,547 RSUs was a result of the spin-off, and 30,818 RSUs was as a result of the service period condition not being met. We canceled 92,500 PSUs of which 28,800 PSUs was a result of the spin-off and 63,700 was a result of the three-year stock performance targets were not being achieved. We delivered 50,200 shares of common stock to our former chief financial officer under vested PSUs with a total market value of $1.3 million, under the terms of his retirement. We delivered 357,345 shares of common stock to current employees under vested RSUs with a total market value of $5.8 million. During the fiscal year ended April 30, 2020, we granted 105,767 PSUs to certain of our executive officers and 32,050 PSUs to non-executive officer employees. We also granted 400,483 service-based RSUs during the year ended April 30, 2020, including 113,770 RSUs to certain of our executive officers, 115,600 RSUs to our directors, and 211,073 RSUs to non-executive officer employees. Compensation expense recognized related to grants of RSUs and PSUs was $2.3 million for the fiscal year ended April 30, 2020. During the fiscal year ended April 30, 2020, we canceled 232,793 service-based RSUs as a result of the service period condition not being met and 367,025 PSUs as the three-year stock performance targets were not achieved. We delivered 296,139 shares of common stock to current employees under vested RSUs with a total market value of $2.6 million. During the year ended April 30, 2019, we granted 181,600 PSUs to certain of our executive officers. We also granted 360,185 service-based RSUs during the year ended April 30, 2019, including 167,818 RSUs to certain of our executive officers, 49,509 RSUs to our directors, and 142,858 RSUs to non-executive officer employees. Compensation expense recognized related to grants of RSUs and PSUs was $7.3 million for the fiscal year ended April 30, 2019. During the fiscal year ended April 30, 2019, we canceled 33,899 service-based RSUs as a result of the service period condition not being met and 112,000 PSUs as the three-year stock performance targets were not achieved. We delivered 206,572 shares of common stock to current employees under vested RSUs with a total market value of $2.5 million. The grant date fair value of RSUs and PSUs that vested in fiscal 2021, 2020, and 2019 was $5.9 million, $5.0 million, and $3.9 million, respectively. A summary of activity for unvested RSUs and PSUs for fiscal years 2021, 2020, and 2019 is as follows: For the Year Ended April 30, 2021 2020 2019 Weighted Weighted Weighted Total # of Average Total # of Average Total # of Average RSUs and Grant Date RSUs and Grant Date RSUs and Grant PSUs Fair Value PSUs Fair Value PSUs Fair Value RSUs and PSUs outstanding, beginning of period 1,313,974 $ 10.86 1,631,631 $ 15.44 1,442,317 $ 17.80 Awarded 270,315 16.54 578,300 5.75 541,785 10.65 Vested (407,545 ) 14.57 (296,139 ) 17.05 (206,572 ) 19.11 Forfeited (180,865 ) 15.18 (599,818 ) 15.34 (145,899 ) 16.11 RSUs and PSUs outstanding, end of period 995,879 $ 11.14 1,313,974 $ 10.86 1,631,631 $ 15.44 As of April 30, 2021, there was $2.7 million of unrecognized compensation cost related to unvested RSUs and PSUs. This cost is expected to be recognized over a weighted average remaining contractual term of 1.4 years. On September 26, 2011, our stockholders approved our 2011 ESPP, which authorizes the sale of up to 6,000,000 shares of our common stock to employees. All options and rights to participate in our ESPP are nontransferable and subject to forfeiture in accordance with our ESPP guidelines. Our current ESPP will be implemented in a series of successive offering periods, each with a maximum duration of 12 months. If the fair market value, or FMV, per share of our common stock on any purchase date is less than the FMV per share on the start date of a 12-month offering period, then that offering period will automatically terminate, and a new 12-month offering period will begin on the next business day. Each offering period will begin on April 1 or October 1, as applicable, immediately following the end of the previous offering period. Payroll deductions will be on an after-tax basis, in an amount of not less than 1% and not more than 20% (or such greater percentage as the committee appointed to administer our ESPP may establish from time to time before the first day of an offering period) of a participant’s compensation on each payroll date. The option exercise price per share will equal 85% of the lower of the FMV on the first day of the offering period or the FMV on the exercise date. The maximum number of shares that a participant may purchase during any purchase period is 12,500 shares, or a total of $25,000 in shares, based on the FMV on the first day of the offering period. Our ESPP will remain in effect until the earliest of (a) the exercise date that participants become entitled to purchase a number of shares greater than the number of reserved shares available for purchase under our ESPP, (b) such date as is determined by our board of directors in its discretion, or (c) March 31, 2022. In the event of certain corporate transactions, each option outstanding under our ESPP will be assumed or an equivalent option will be substituted by the successor corporation or a parent or subsidiary of such successor corporation. During fiscal 2021, 2020, and 2019, 204,482, 380,209, and 230,282 shares, respectively, were purchased by our employees under our ESPP. We measure the cost of employee services received in exchange for an award of an equity instrument based on the grant-date fair value of the award. We calculate the fair value of our stock options issued to employees using the Black-Scholes model at the time the options were granted. That amount is then amortized over the vesting period of the option. With our ESPP, fair value is determined at the beginning of the purchase period and amortized over the term of each exercise period. The following assumptions were used in valuing our ESPP purchases during the years ended April 30, 2021, 2020, and 2019: For the Years Ended April 30, 2021 2020 2019 Risk-free interest rate 0.08 % 1.24 % 2.21 % Expected term (a) 6 months 4 & 6 months 6 months Expected volatility (b) 70.93 % 63.6 % 45.3 % Dividend yield (c) 1.17 % 0 % 0 % (a) The 2 nd (b) We believe our expected volatility increased in fiscal 2020 primarily due to market and stock price fluctuations as a result of the COVID-19 pandemic. (c) We did not pay dividends in fiscal 2020 and 2019. We estimate expected volatility using historical volatility for the expected term. The fair value of each stock option or ESPP purchase was estimated on the date of the grant using the Black-Scholes option pricing model (using the risk-free interest rate, expected term, expected volatility, and dividend yield variables, as noted in the above table). The total stock-based compensation expense, including stock options, purchases under our ESPP, and RSU and PSU awards, was $4.7 million, $2.4 million, and $6.9 million, for fiscal years 2021, 2020, and 2019, respectively.

Employer Sponsored Benefit Plan

Employer Sponsored Benefit Plans	12 Months Ended
	Apr. 30, 2021
Compensation And Retirement Disclosure [Abstract]
Employer Sponsored Benefit Plans	15. Employer Sponsored Benefit Plans Contributory Defined Investment Plan — We offer two contributory defined investment plans covering substantially all employees, subject to service requirements. Employees may contribute up to 100% of their annual pay, depending on the plan. We generally make discretionary matching contributions of up to 50% of the first 6% of employee contributions to the plan. We contributed $2.9 million, $2.3 million, and $2.5 million for the fiscal years ended April 30, 2021, 2020, and 2019, respectively. Non-Contributory Profit Sharing Plan — We have a non-contributory profit sharing plan covering substantially all of our employees. Employees become eligible on May 1 following the completion of a full fiscal year of continuous service. Our contributions to the plan are discretionary. For fiscal 2021, we plan to contribute approximately $14.4 million, which has been recorded in general and administrative costs. We contributed $2.2 million and $2.6 million for the fiscal years ended April 30, 2020 and 2019, respectively. Contributions are funded after the fiscal year-end.

Income Taxes

Income Taxes	12 Months Ended
	Apr. 30, 2021
Income Tax Disclosure [Abstract]
Income Taxes	16. Income Taxes Income tax expense/(benefit) from continuing operations consisted of the following (in thousands): For the Year Ended April 30, 2021 2020 2019 Current: Federal $ 64,417 $ 9,877 $ 5,567 State 9,530 1,841 1,918 Total current 73,947 11,718 7,485 Deferred: Deferred federal 358 (164 ) 1,665 Deferred state 89 (32 ) 134 Total deferred 447 (196 ) 1,799 Total income tax expense/(benefit) $ 74,394 $ 11,522 $ 9,284 The following table presents a reconciliation of the provision for income taxes from continuing operations at statutory rates to the provision (benefit) in the consolidated financial statements (in thousands): For the Year Ended April 30, 2021 2020 2019 Federal income taxes expected at the statutory rate (a) $ 66,773 $ 8,233 $ 7,183 State income taxes, less federal income tax benefit 7,685 1,628 1,737 Stock compensation (578 ) 1,077 646 Business meals and entertainment 115 257 144 Research and development tax credit (297 ) (496 ) (460 ) Non-deductible Separation expenses 195 688 — Other 501 135 105 Federal tax rate change on deferred taxes — — (71 ) Total income tax expense/(benefit) $ 74,394 $ 11,522 $ 9,284 (a) We had a statutory rate of 21% in fiscal 2021, 2020 and 2019. Deferred tax assets (liabilities) related to temporary differences are the following (in thousands): For the Years Ended April 30, 2021 2020 Non-current tax assets (liabilities): Net operating loss carryforwards and tax credits $ 3,189 $ 3,158 Inventories 4,508 6,082 Accrued expenses, including compensation 4,952 4,063 Product liability 263 434 Accrued promotions 139 69 Workers' compensation 497 486 Warranty reserve 1,303 987 Stock-based compensation 1,517 2,319 State bonus depreciation 888 1,287 Property taxes (250 ) (254 ) Property, plant, and equipment (13,994 ) (15,889 ) Intangible assets (914 ) (633 ) Right-of-use assets (1,091 ) (1,685 ) Right-of-use liabilities 1,131 1,734 Pension 293 241 Other (38 ) 331 Less valuation allowance (3,297 ) (3,187 ) Net deferred tax asset/(liability) — total $ (904 ) $ (457 ) We had no federal net operating loss carryforwards in fiscal 2021. There were $17.7 million and $17.7 million in state net operating loss carryforwards as of April 30, 2021 and 2020, respectively. The state net operating loss carryforwards will expire between April 30, 2027 and April 30, 2040. There were $2.9 million of state tax credit carryforwards as of April 30, 2021 and 2020. The state tax credit carryforwards will expire between April 30, 2023 and April 30, 2025 or have no expiration date. As of both April 30, 2021 and 2020, valuation allowances of $904,000 and $2.3 million were provided on our deferred tax assets for those state net operating loss carryforwards, and state tax credits, respectively, that we do not anticipate using prior to their expiration. Additional valuation allowances of $79,000 were provided on our deferred income tax assets as of April 30, 2021, as we believe that it is more likely than not that all such assets will not be realized. These allowances related to IRC Section 162(m) limitations on the deductibility of certain executive compensation. Recording a valuation allowance or reversing a valuation allowance could have an effect on our future results of operations and financial position. The income tax provisions represent effective tax rates of 23.4% and 29.4% for the fiscal year ended April 30, 2021 and 2020, respectively. At April 30, 2021 and 2020, we did not have any gross tax-effected unrecognized tax benefits. With limited exception, we are subject to U.S. federal, state, and local, or non-U.S. income tax audits by tax authorities for fiscal years subsequent to April 30, 2017.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Apr. 30, 2021
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	17. Commitments and Contingencies Litigation In January 2018, Gemini Technologies, Incorporated, or Gemini, commenced an action against us in the U.S. District Court for the District of Idaho, or the District Court. The complaint alleges, among other things, that we breached the earn-out and other provisions of the Asset Purchase Agreement and ancillary agreements between the parties in connection with our acquisition of the Gemtech business from Gemini. The complaint seeks a declaratory judgment interpreting various terms of the Asset Purchase Agreement and damages in the sum of $18.6 million. In May 2018, the District Court dismissed the complaint on the grounds of forum non conveniens forum non conveniens We are a defendant in four product liability cases and are aware of one other product liability claim, primarily alleging defective product design, defective manufacturing, or failure to provide adequate warnings. In addition, we are a co-defendant in a case filed on August 27, 1999 by the city of Gary, Indiana, or the City, against numerous firearm manufacturers, distributors, and dealers seeking to recover monetary damages, as well as injunctive relief, allegedly arising out of the misuse of firearms by third parties. In January 2018, the trial court granted defendants’ Motion for Judgment on the Pleadings, dismissing the case in its entirety. In February 2018, plaintiffs appealed the dismissal to the Indiana Court of Appeals. On May 23, 2019, the Indiana Court of Appeals issued a decision, which affirmed in part and reversed in part and remanded for further proceedings, the trial court’s dismissal of the City’s complaint. On July 8, 2019, defendants filed a Petition to Transfer jurisdiction to the Indiana Supreme Court. Briefing was completed in the Indiana Supreme Court on August 5, 2019. On November 26, 2019, the Indiana Supreme Court denied our petition to transfer. The case was returned to the trial court. In May 2018, we were named in an action related to the Parkland, Florida shooting, filed in the Circuit Court, Broward County, Florida, seeking a declaratory judgment that a Florida statute that provides firearm manufacturers and dealers immunity from liability when their legally manufactured and lawfully sold firearms are later used in criminal acts only applies to civil actions commenced by governmental agencies not private litigants. In August 2018, we moved to dismiss the complaint on the grounds that it seeks an impermissible advisory opinion. On December 6, 2018, the court granted defendants’ motion to dismiss without prejudice and granted plaintiffs leave to amend their complaint. On December 10, 2018, plaintiffs filed a Second Amended Complaint for Declaratory Relief. On December 13, 2018, defendants filed a Motion to Dismiss Plaintiffs’ Second Amended Complaint. On November 21, 2019, the court granted defendants’ motion to dismiss plaintiffs’ second amended complaint, with prejudice. On June 15, 2021, upon plaintiffs’ motion, the Fourth District Court of Appeal of the State of Florida, or the Court of Appeal, ruled that the Circuit Court’s November 21, 2019 order dismissing the case was not “final and appealable,” and ordered the Circuit Court to enter a final order of dismissal. We are a defendant in a putative class proceeding before the Ontario Superior Court of Justice in Toronto, Canada. The action was filed on December 16, 2019. The action claims CAD$50 million in aggregate general damages, CAD$100 million in aggregate punitive damages, special damages in an unspecified amount, together with interest and legal costs. The named plaintiffs are two victims of a shooting that took place in Toronto on July 22, 2018 and their family members. One victim was shot and injured during the shooting. The other suffered unspecified injuries while fleeing the shooting. In May 2020, we were named in an action related to the Chabad of Poway synagogue shooting that took place on April 27, 2019. The complaint was filed in the Superior Court of the State of California, for the County of San Diego – Central, and asserts claims against us for product liability, unfair competition, negligence, and public nuisance. The plaintiffs allege they were present at the synagogue on the day of the incident and suffered physical and/or emotional injury. The plaintiffs seek compensatory and punitive damages, attorneys’ fees, and injunctive relief. On September 3, 2020, we filed a demurrer and motion to strike, seeking to dismiss plaintiffs’ complaint. The plaintiffs filed an opposition to our motion on December 18, 2020. Our reply to plaintiffs’ opposition was filed on January 15, 2021. On February 16, 2021 several law professors with First Amendment expertise filed an amicus brief in support of our demurrer. Plaintiffs responded to the law professors’ brief on March 8, 2021. On March 23, 2021, Public Citizen, a consumer advocacy organization, filed an amicus brief in response to the law professors’ amicus brief. We responded to Public Citizen’s brief on May 10, 2021. The hearing on our motion was held on June 8, 2021. No decision has been issued to date. We believe that the various allegations as described above are unfounded, and, in addition, that any incident and any results from them or any injuries were due to negligence or misuse of the firearm by the claimant or a third party. John Pidcock, as trustee of the ASPC Creditor Trust (appointed under the plan of reorganization of AcuSport Corp., or AcuSport, as debtor in possession under chapter 11 of the U.S. Bankruptcy Code), is the plaintiff in two separate actions against us in the U.S. Bankruptcy Court for the Southern District of Ohio. The first seeks recovery of alleged preferential transfers received by us from AcuSport in the aggregate amount of $4.2 million. The second seeks turnover of goods allegedly owed to AcuSport by us under one or more of our promotional programs in the amount of $1.5 million. We have filed answers to both complaints denying all material allegations and asserting affirmative defenses. Mediation was held on December 10, 2020, and was unsuccessful in resolving these cases. We believe we have strong defenses to these actions and intend to continue to vigorously defend them. A second mediation is scheduled for June 23, 2021. We believe that the various allegations as described above are unfounded. In addition, from time to time, we are involved in lawsuits, claims, investigations, and proceedings, including commercial, environmental, premises and employment matters, which arise in the ordinary course of business. The relief sought in individual cases primarily includes compensatory and, sometimes, punitive damages. Certain of the cases and claims seek unspecified compensatory or punitive damages. In others, compensatory damages sought may range from less than $75,000 to approximately $50.0 million. In our experience, initial demands do not generally bear a reasonable relationship to the facts and circumstances of a particular matter. We believe that our accruals for product liability cases and claims are a reasonable quantitative measure of the cost to us of product liability cases and claims. We are vigorously defending ourselves in the lawsuits to which we are subject. An unfavorable outcome or prolonged litigation could harm our business. Litigation of this nature also is expensive, time consuming, and diverts the time and attention of our management. We monitor the status of known claims and the related product liability accrual, which includes amounts for defense costs for asserted and unasserted claims. After consultation with litigation counsel and a review of the merit of each claim, we have concluded that we are unable to reasonably estimate the probability or the estimated range of reasonably possible losses related to material adverse judgments related to such claims and, therefore, we have not accrued for any such judgments. In the future, should we determine that a loss (or an additional loss in excess of our accrual) is at least reasonably possible and material, we would then disclose an estimate of the possible loss or range of loss, if such estimate could be made, or disclose that an estimate could not be made. We believe that we have provided adequate accruals for defense costs. For the fiscal years ended April 30, 2021, 2020, and 2019, we paid $606,000, $584,000, and $322,000, respectively, in defense and administrative costs relative to product liability and municipal litigation. In addition, we spent an aggregate of $65,000, $3,000, and $180,000, respectively, in those fiscal years in settlement fees related to product liability cases. We have recorded our liability for defense costs before consideration for reimbursement from insurance carriers. We have also recorded the amount due as reimbursement under existing policies from the insurance carriers as a receivable shown in other current assets and other assets. We recognize gains and expenses for changes in our product liability provisions and municipal litigation liabilities. In fiscal 2021, we recorded expense of $388,000; in fiscal 2020, we recorded expense of $892,000; and in fiscal 2019, we recorded expense of $293,000. At this time, an estimated range of reasonably possible additional losses relating to unfavorable outcomes cannot be made. Environmental Remediation We are subject to numerous federal, state, and local laws and regulations that regulate the health and safety of our workforce, including, but not limited to, those regulations monitored by the Occupational Health and Safety Administration, or OSHA, the National Fire Protection Association, and the Department of Public Health. Though not exhaustive, examples of applicable regulations include confined space safety, walking and working surfaces, machine guarding, and life safety. We are also subject to numerous federal, state, and local environmental laws and regulations concerning, among other things, emissions in the air; discharges to land, surface, subsurface strata and water; and the generation, handling, storage, transportation, treatment, and disposal of hazardous wastes and other materials. These laws have required us to make significant expenditures of both a capital and expense nature. Several of the more significant federal laws applicable to our operations include the Clean Air Act, the Clean Water Act, the Comprehensive Environmental Response, Compensation and Liability Act, or CERCLA, and the Solid Waste Disposal Act, as amended by the Resource Conservation and Recovery Act. We have in place programs and personnel to monitor compliance with various federal, state, and local environmental regulations. In the normal course of our manufacturing operations, we are subject to governmental proceedings and orders pertaining to waste disposal, air emissions, and water discharges into the environment. We fund our environmental costs through cash flows from operations. We believe that we are in compliance with applicable environmental regulations in all material respects. We are required to remediate hazardous waste at our facilities. Currently, we own a designated site in Springfield, Massachusetts that contains two release areas, which are the focus of remediation projects as part of the Massachusetts Contingency Plan, or MCP. The MCP provides a structured environment for the voluntary remediation of regulated releases. We may be required to remove hazardous waste or remediate the alleged effects of hazardous substances on the environment associated with past disposal practices at sites not owned by us. We have received notice that we are a potentially responsible party from the Environmental Protection Agency and/or individual states under CERCLA or a state equivalent at two sites. As of April 30, 2021, and 2020, we do not have an open environmental reserve recorded in our consolidated balance sheet. When the available information is sufficient to estimate the amount of liability, that estimate has been used. When the information is only sufficient to establish a range of probable liability and no point within the range is more likely than any other, the lower end of the range has been used. We may not have insurance coverage for our environmental remediation costs. We have not recognized any gains from probable recoveries or other gain contingencies. Based on information known to us, we do not expect current environmental regulations or environmental proceedings and claims to have a material adverse effect on our consolidated financial position, results of operations, or cash flows. However, it is not possible to predict with certainty the impact on us of future environmental compliance requirements or the cost of resolving of future environmental health and safety proceedings and claims, in part because the scope of the remedies that may be required is not certain, liability under federal environmental laws is joint and several in nature, and environmental laws and regulations are subject to modification and changes in interpretation. There can be no assurance that additional or changing environmental regulation will not become more burdensome in the future and that any such development would not have a material adverse effect on our company. Contracts Employment Agreements — We have employment, severance, and change of control agreements with certain officers and managers.

Subsequent Events

Subsequent Events	12 Months Ended
	Apr. 30, 2021
Subsequent Events [Abstract]
Subsequent Events	18. Subsequent Events Dividends On June 15, 2021, our board of directors authorized a regular quarterly dividend for stockholders of $0.08 per share. The dividend will be for stockholders of record as of market close on July 1, 2021 and is payable on July 6, 2021. Treasury Stock On June 15, 2021, our board of directors authorized the repurchase of up to $50.0 million of our common stock, subject to certain conditions, in the open market or in privately negotiated transactions, valid through August 15, 2022.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	12 Months Ended
	Apr. 30, 2021
Accounting Policies [Abstract]
Use of Estimates	Use of Estimates — The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the financial statement dates and the reported amounts of revenue and expenses during the reporting periods. Our significant estimates include the accrual for warranty, reserves for excess and obsolete inventory, rebates and other promotions, and valuation of intangible assets. Actual results could differ from those estimates.
Principles of Consolidation	Principles of Consolidation — The accompanying consolidated financial statements include the accounts of Smith & Wesson Brands, Inc. and its wholly owned subsidiaries, including Smith & Wesson Inc., Smith & Wesson Sales Company, and SWPC Plastics, LLC. In our opinion, all adjustments, which include only normal recurring adjustments necessary to fairly present the financial position, results of operations, changes in stockholders’ equity, and cash flows at April 30, 2021 and 2020 and for the periods presented, have been included. All intercompany accounts and transactions have been eliminated in consolidation.
Fair Value of Financial Instruments	Fair Value of Financial Instruments — Unless otherwise indicated, the fair values of all reported assets and liabilities, which represent financial instruments not held for trading purposes, approximate the carrying values of such amounts because of their short-term nature or market rates of interest.
Cash and Cash Equivalents	Cash and Cash Equivalents — We consider all highly liquid investments purchased with original maturities of three months or less at the date of acquisition to be cash equivalents. We maintain our cash in bank deposit accounts that, at times, may exceed federally insured limits. We have not experienced any losses in such accounts. As of April 30, 2021, all of our accounts exceeded federally insured limits.
Financial Instruments	Financial Instruments — We account for derivative instruments under Accounting Standards Codification (“ASC”) 815-10, , which establishes accounting and reporting standards for derivative instruments and hedging activities and requires us to recognize these instruments as either assets or liabilities on the balance sheet and measure them at fair value. As of April 30, 2021, we did not have any Level 2 financial instruments within the hierarchy. See Note 6 – for more information regarding our financial instruments.
Trade Receivables	Trade Receivables — We extend credit to our domestic customers and some foreign distributors based on their financial condition. We sometimes offer discounts for early payment on invoices. When we believe the extension of credit is not advisable, we rely on either a prepayment or a letter of credit. We write off balances deemed uncollectible by us against our allowance for doubtful accounts. We estimate our allowance for doubtful accounts through current past due balances, knowledge of our customers’ financial situations, and past payment history.
Concentrations of Credit Risk	Concentrations of Credit Risk — Financial instruments that potentially subject us to concentration of credit risk consist principally of cash, cash equivalents, and trade receivables. We place our cash and cash equivalents in overnight U.S. government securities. Concentrations of credit risk with respect to trade receivables are limited by the large number of customers comprising our customer base and their geographic and business dispersion. We perform ongoing credit evaluations of our customers’ financial condition and generally do not require collateral. For the year ended April 30, 2021, four of our customers exceeded 10% of our net sales and accounted for approximately 45.0% of our net sales. Two of these customers each accounted for more than 10% of our accounts receivable for a total of 28.4%. For the fiscal year ended April 30, 2020, four of our customers accounted for more than 10% of our net sales and accounted for approximately 43.9% of our net sales and three customers accounted for approximately 45.3% of our accounts receivable. For the fiscal year ended April 30, 2019, one of our customers accounted for 10.4% of our net sales and one of our customers accounted for 23.1% of our accounts receivable.
Inventories	Inventories — We value inventories at the lower cost, using the first-in, first-out, or FIFO method, or net realizable value. An allowance for potential non-saleable inventory due to excess stock or obsolescence is based upon a detailed review of inventory, past history, and expected future usage.
Property, Plant, and Equipment	Property, Plant, and Equipment — We record property, plant, and equipment, consisting of land, building, improvements, machinery, equipment, software, hardware, furniture, and fixtures, at cost and depreciate them using the straight-line method over their estimated useful lives. We charge expenditures for maintenance and repairs to earnings as incurred, and we capitalize additions, renewals, and betterments. Upon the retirement or other disposition of property and equipment, we remove the related cost and accumulated depreciation from the respective accounts and include any gain or loss in operations. We lease certain of our real estate, machinery, photocopiers, and vehicles under non-cancelable operating lease agreements, and we recognize expenses under our operating lease assets and liabilities at the commencement date based on the present value of lease payments over the lease term. The depreciable life of assets and leasehold improvements are based on the expected life of the lease. A summary of the estimated useful lives is as follows: Description Useful Life Building and improvements 10 to 40 years Software and hardware 2 to 7 years Machinery and equipment 2 to 10 years We include tooling, dies, and fixtures as part of machinery and equipment and depreciate them over a period generally not exceeding ten years.
Intangible Assets	Intangible Assets — We record intangible assets at cost or based on the fair value of the assets acquired. Intangible assets consist of developed technology, customer relationships, trademarks, trade names, and patents. We amortize intangible assets over their estimated useful lives or in proportion to expected yearly revenue generated from the intangibles that were acquired.
Revenue Recognition	Revenue Recognition — We recognize revenue in accordance with the provisions of Accounting Standards Update, or ASU, , which became effective for us on May 1, 2018. Generally, all performance obligations are satisfied and revenue is recognized when the risks and rewards of ownership have transferred to the customer, which is generally upon shipment but could be delayed until the receipt of customer acceptance. In some instances, sales include multiple performance obligations. The most common of these instances relates to sales promotion programs under which customers are entitled to receive free goods based upon their purchase of our products, which we have identified as a material right. The fulfillment of these free goods is our responsibility. In such instances, we allocate the revenue of the promotional sales based on the estimated level of participation in the sales promotional program and the timing of the shipment of all of the products included in the promotional program, including the free goods. We recognize r evenue related to the material right proportionally as each performance obligation is satisfied. The net change in contract liabilities for a given period is reported as an increase or decrease to sales. We generally sell our products free on board, or FOB, shipping point and provide payment terms to most commercial customers ranging from 20 to 90 days of product shipment with a discount available to some customers for early payment. Generally, framework contracts define the general terms of sales, including payment terms, freight terms, insurance requirements, and cancelation provisions. Purchase orders define the terms for specific sales, including description, quantity, and price of each product purchased. We estimate variable consideration relative to the amount of cash discounts to which customers are likely to be entitled. In some instances, we provide longer payment terms, particularly as it relates to our fall dating programs for hunting sales, which represent payment terms due in the fall for certain orders of hunting products received in the spring and summer. As a result of utilizing practical expedience upon the adoption of ASC 606, we do not consider these extended terms to be a significant financing component of the contract because the payment terms are less than one year. In all cases, we consider our costs related to shipping and handling to be a cost of fulfilling the contract with the customer.
Research and Development	Research and Development — We engage in both internal and external research and development, or R&D, in order to remain competitive and to exploit possible untapped market opportunities. We approve prospective R&D projects after analysis of the cost and benefits associated with the potential product. Costs in R&D expense include, among other items, salaries, materials, utilities, and administrative costs.
Earnings/(Loss) per Share	Earnings/(Loss) per Share — We calculate basic and diluted earnings/(loss) per common share in accordance with the provisions of ASC 260-10, . Basic earnings/(loss) per common share equals net income/(loss) divided by the weighted average number of common shares outstanding during the period. Diluted earnings/(loss) per common share equals net income/(loss) divided by the weighted average number of common shares outstanding during the period, including the effect of outstanding stock options and other stock-based instruments if their effect is dilutive. The following table provides a reconciliation of the net income/(loss) amounts and weighted average number of common and common equivalent shares used to determine basic and diluted earnings/(loss) per common share (in thousands, except per share data): For the Year Ended April 30, 2021 2020 2019 Net income/(loss) Income from continuing operations $ 243,571 $ 27,653 $ 24,920 Income/(loss) from discontinued operations 8,478 (88,883 ) (6,510 ) Net income/(loss) $ 252,049 $ (61,230 ) $ 18,410 Weighted average shares outstanding — Basic 54,613 54,983 54,483 Effect of dilutive stock awards 739 682 733 Weighted average shares outstanding — Diluted 55,352 55,665 55,216 Earnings/(loss) per share — Basic Income from continuing operations $ 4.46 $ 0.50 $ 0.46 Income/(loss) from discontinued operations $ 0.16 $ (1.62 ) $ (0.12 ) Net income/(loss) $ 4.62 $ (1.11 ) $ 0.34 Earnings/(loss) per share — Diluted Income from continuing operations $ 4.40 $ 0.50 $ 0.45 Income/(loss) from discontinued operations $ 0.15 $ (1.60 ) $ (0.12 ) Net income/(loss) $ 4.55 $ (1.10 ) $ 0.33 All of our outstanding stock options and restricted stock units, or RSUs, were included in the computation of diluted earnings per share for the years ended April 30, 20 21 and 20 20 .
Valuation of Long Lived Tangible and Intangible Assets	Valuation of Long-lived Tangible and Intangible Assets — We evaluate the recoverability of long-lived assets, or asset groups, whenever events or changes in circumstances indicate that carrying amounts may not be recoverable. When such evaluations indicate that the related future undiscounted cash flows are not sufficient to recover the carrying values of the assets, such carrying values are reduced to fair value and this adjusted carrying value becomes the asset’s new cost basis. We determine fair value primarily using future anticipated cash flows that are directly associated with and are expected to arise as a direct result of the use and eventual disposition of the asset, or asset group, discounted using an interest rate commensurate with the risk involved. We have significant long-lived tangible and intangible assets, which are susceptible to valuation adjustments as a result of changes in various factors or conditions. The most significant long-lived tangible and intangible assets, other than goodwill, are property, plant, and equipment, developed technology, customer relationships, patents, trademarks, and trade names. We amortize all finite-lived intangible assets either on a straight-line basis or based upon patterns in which we expect to utilize the economic benefits of such assets. We initially determine the values of intangible assets by a risk-adjusted, discounted cash flow approach. We assess the potential impairment of identifiable intangible assets and fixed assets whenever events or changes in circumstances indicate that the carrying values may not be recoverable and at least annually. Factors we consider important, which could trigger an impairment of such assets, include the following: • significant underperformance relative to historical or projected future operating results; • significant changes in the manner or use of the assets or the strategy for our overall business; • significant negative industry or economic trends; • a significant decline in our stock price for a sustained period; and • a decline in our market capitalization below net book value. Future adverse changes in these or other unforeseeable factors could result in an impairment charge that could materially impact future results of operations and financial position in the reporting period identified. In accordance with ASC 350, Intangibles-Goodwill and Other, We review the fair value of our goodwill based on financial performance annually. As of our last valuation date, February 1, 2021, we had $19.0 million of goodwill and its fair value significantly exceeded its carrying value, based on EBITDAS, cashflow, and market capitalization. Our assumptions related to the development of fair value could deviate materially from actual results and forecasts used to support asset carrying values may change in the future, which could result in non-cash charges that would adversely affect our financial results of operations The re-measurement of goodwill is classified as a Level 3 fair value assessment as described in Note 13 - Fair Value Measurement,
Income Taxes	Income Taxes — We use the asset and liability approach for financial accounting and reporting income taxes. The provision for income taxes is based upon income reported in the accompanying consolidated financial statements as required by ASC 740-10, We determine deferred tax assets and liabilities based on temporary differences between financial reporting and tax bases in assets and liabilities and measure them by applying enacted rates and laws expected to be in place when the deferred items become subject to income tax or deductible for income tax purposes. We recognize the effect on deferred taxes and liabilities of a change in tax rates in the period that includes the enactment date. In assessing the realization of our deferred income tax assets, we consider whether it is more likely than not that the deferred income tax assets will be realized. The ultimate realization of our deferred income tax assets depends upon generating future taxable income during the
Warranty	Warranty — We generally provide a limited one-year warranty and a lifetime service policy to the original purchaser of our new firearm products. We either provide a limited one-year, or a limited-lifetime warranty to the original purchaser of most of our products. We will also repair or replace certain products or parts found to be defective under normal use and service with an item of equivalent value, at our option, without charge during the warranty period. We quantify and record an estimate for warranty-related costs based on our actual historical claims experience and current repair costs. We adjust accruals as warranty claims data and historical experience warrant. Should we experience actual claims and repair costs that are higher than the estimated claims and repair costs used to calculate the provision, our operating results for the period or periods in which such returns or additional costs materialize would be adversely impacted. From time to time, we have experienced certain manufacturing and design issues with respect to some of our firearms and have initiated some product recalls and safety alerts. In October 2020, we initiated a recall for certain models of our M&P Shield EZ pistols manufactured between March 1, 2020 and October 31, 2020 because some hammers manufactured by our supplier were cracked and could potentially cause a discharge without depressing the trigger. The remaining estimated cost of all recalls, safety alerts, and consumer advisories is $323,000, which is recorded in accrued warranty on our consolidated balance sheet. The remaining balance relates to a general accrual related to standard warranty costs for products shipped in the ordinary course of business. Warranty expense for the fiscal years ended April 30, 2021, 2020, and 2019 amounted to $5.2 million, $1.8 million, and $2.7 million, respectively. The following table sets forth the change in accrued warranties, a portion of which is recorded as a non-current liability, in the fiscal years ended April 30, 2021, 2020, and 2019 (in thousands): Balance as of April 30, 2019 5,026 Warranties issued and adjustments to provisions 1,757 Warranty claims (2,887 ) Balance as of April 30, 2020 3,896 Warranties issued and adjustments to provisions 5,163 Warranty claims (3,366 ) Balance as of April 30, 2021 $ 5,693
Sales and Promotional Related Expenses	Sales and Promotional Related Expenses — We present product sales in our consolidated financial statements, net of customer promotional program costs that depend upon the volume of sales. For promotional program costs that do not depend on the volume of sales, we record promotional costs in cost of goods sold. The total of all our promotional programs amounted to $10.5 million, $43.6 million, and $39.2 million for the fiscal years ended April 30, 2021, 2020, and 2019, respectively. We have a co-op advertising program at the retail level. We expensed costs amounting to $15.2 million, $9.2 million, and $8.0 million for fiscal 2021, 2020, and 2019, respectively, as selling and marketing expenses.
Shipping and Handling	Shipping and Handling — In the accompanying consolidated financial statements, we included amounts billed to customers for shipping and handling in net sales. Beginning in fiscal 2020, inbound freight charges and internal transfer costs are included in cost of goods sold; however, costs incurred to distribute products to customers is included in selling, marketing, and distribution expenses. As a result of this change, we recorded $4.4 million of costs in selling, marketing, and distribution expenses that would have been recorded in cost of sales in fiscal 2019. Prior to fiscal 2020, we included costs relating to shipping and handling charges, including inbound freight charges, internal transfer costs, and the other costs of our distribution network, in cost of goods sold.
Insurance Reserves	Insurance Reserves — In January 2020, we formed a wholly owned captive insurance company, which provides product liability insurance to us and our subsidiaries. This captive insurance company was recorded in our consolidated financial statements for the fiscal year ended April 30, 2021 and 2020. We are self-insured through retentions or deductibles for the majority of our workers’ compensation, automobile, general liability, product liability, and group health insurance programs. Self-insurance amounts vary up to $10.0 million per occurrence; however, we believe the likelihood of reaching the maximum per occurrence limit is remote. We record our liability for estimated premiums and incurred losses in the accompanying consolidated financial statements on an undiscounted basis.
Recently Issued Accounting Standards	Recently Issued Accounting Standards — In February 2016, the Financial Accounting Standards Board, or FASB, issued ASU 2016-02, Leases (Topic 842), or ASU 2016-02, which amends the existing guidance to require lessees to recognize right-of-use assets and lease liabilities in a classified balance sheet. The most prominent among the changes in the standard is the requirement for lessees to recognize right-of-use assets and lease liabilities for those leases classified as operating leases under current GAAP. The requirements of ASU 2016-02 are effective for financial statements for annual periods beginning after December 15, 2018, and early adoption is permitted. We used the optional transitional method allowed by ASU 2018-11, (Topic 842): Targeted Improvements. Under this method, we applied the standard using the modified retrospective method with an adoption date of May 1, 2019. We elected to use the package of practical expedients, which permits us to not reassess certain lease contract provisions. We adopted ASU 2016-02 effective May 1, 2019 and recognized right-of-use assets of $11.5 million and lease liabilities of $12.8 million. The difference between the right-of-use assets and the lease liabilities of $1.3 million is a result of the reclassification of deferred rent and lease incentive liabilities primarily relating to our real estate operating leases into the right-of use assets, which had no impact to retained earnings. See also Note 4 — Leases, for more information. In June 2016, the Financial Accounting Standards Board issued Accounting Standards Update, or ASU, 2016-13, Financial Instruments — Credit Losses In December 2019, the FASB issued ASU No. 2019-12, " Income Taxes
Fair Value Measurements and Disclosures Topic	We follow the provisions of ASC 820-10, Fair Value Measurements and Disclosures Topic Financial assets and liabilities recorded on the accompanying consolidated balance sheets are categorized based on the inputs to the valuation techniques as follows: Level 1 — Financial assets and liabilities whose values are based on unadjusted quoted prices for identical assets or liabilities in an active market that we have the ability to access at the measurement date (examples include active exchange-traded equity securities, listed derivatives, and most U.S. Government and agency securities). Our cash and cash equivalents, which are measured at fair value on a recurring basis, totaled $113.0 million and $125.0 million as of April 30, 2021 and 2020, respectively. We utilized Level 1 of the value hierarchy to determine the fair values of these assets. Level 2 — Financial assets and liabilities whose values are based on quoted prices in markets in which trading occurs infrequently or whose values are based on quoted prices of instruments with similar attributes in active markets. Level 2 inputs include the following: • quoted prices for identical or similar assets or liabilities in non-active markets (such as corporate and municipal bonds which trade infrequently); • inputs other than quoted prices that are observable for substantially the full term of the asset or liability (such as interest rate and currency swaps); and • inputs that are derived principally from or corroborated by observable market data for substantially the full term of the asset or liability (such as certain securities and derivatives). Level 3 — Financial assets and liabilities whose values are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. These inputs reflect our assumptions about the assumptions a market participant would use in pricing the asset or liability. We currently do not have any Level 2 or Level 3 financial assets or liabilities as of April 30, 2021.

Significant Accounting Polici_3

Significant Accounting Policies (Tables)	12 Months Ended
	Apr. 30, 2021
Accounting Policies [Abstract]
Summary of Estimated Useful Lives	A summary of the estimated useful lives is as follows: Description Useful Life Building and improvements 10 to 40 years Software and hardware 2 to 7 years Machinery and equipment 2 to 10 years
Reconciliation of Net Income/(Loss) Amounts and Weighted Average Number of Common and Common Equivalent Shares Used to Determine Basic and Diluted (Loss)/Earnings per Common Share	The following table provides a reconciliation of the net income/(loss) amounts and weighted average number of common and common equivalent shares used to determine basic and diluted earnings/(loss) per common share (in thousands, except per share data): For the Year Ended April 30, 2021 2020 2019 Net income/(loss) Income from continuing operations $ 243,571 $ 27,653 $ 24,920 Income/(loss) from discontinued operations 8,478 (88,883 ) (6,510 ) Net income/(loss) $ 252,049 $ (61,230 ) $ 18,410 Weighted average shares outstanding — Basic 54,613 54,983 54,483 Effect of dilutive stock awards 739 682 733 Weighted average shares outstanding — Diluted 55,352 55,665 55,216 Earnings/(loss) per share — Basic Income from continuing operations $ 4.46 $ 0.50 $ 0.46 Income/(loss) from discontinued operations $ 0.16 $ (1.62 ) $ (0.12 ) Net income/(loss) $ 4.62 $ (1.11 ) $ 0.34 Earnings/(loss) per share — Diluted Income from continuing operations $ 4.40 $ 0.50 $ 0.45 Income/(loss) from discontinued operations $ 0.15 $ (1.60 ) $ (0.12 ) Net income/(loss) $ 4.55 $ (1.10 ) $ 0.33
Change in Accrued Warranties Recorded as Non-Current Liability	The following table sets forth the change in accrued warranties, a portion of which is recorded as a non-current liability, in the fiscal years ended April 30, 2021, 2020, and 2019 (in thousands): Balance as of April 30, 2019 5,026 Warranties issued and adjustments to provisions 1,757 Warranty claims (2,887 ) Balance as of April 30, 2020 3,896 Warranties issued and adjustments to provisions 5,163 Warranty claims (3,366 ) Balance as of April 30, 2021 $ 5,693

Discontinued Operations (Tables

Discontinued Operations (Tables)	12 Months Ended
	Apr. 30, 2021
Discontinued Operations And Disposal Groups [Abstract]
Summary of Results of Discontinued Operations	The following table summarizes the major line items for the outdoor products and accessories business that are included in income/(loss) from discontinued operations, net of tax, in the condensed consolidation statements of income/(loss) and comprehensive income/(loss): For the Years Ended April 30, 2021 2020 2019 (In thousands) Net revenues $ 61,249 $ 148,776 $ 156,942 Cost of sales 27,147 79,760 76,994 Operating expenses 23,458 168,140 85,408 Interest income/(expense), net 112 21 (6 ) Other income/(expense), net — (21 ) — Income/(loss) from discontinued operations before income taxes $ 10,756 $ (99,124 ) $ (5,466 ) Income tax expense/(benefit) 2,278 (10,241 ) 1,044 Income/(loss) from discontinued operations, net of tax $ 8,478 $ (88,883 ) $ (6,510 ) The following table summarizes the carrying amounts of major classes of assets and liabilities of discontinued operations for each of the periods presented: As of: April 30, 2021 April 30, 2020 (In thousands) Cash and cash equivalents $ — $ 387 Accounts receivable, net — 32,554 Inventories — 60,450 Prepaid expenses and other current assets — 1,282 Property, plant, and equipment, net — 9,678 Intangible assets, net — 69,379 Goodwill — 64,581 Deferred income taxes — 2,950 Other assets — 1,897 Total assets of discontinued operations $ — $ 243,158 Current liabilities $ — $ 17,372 Other non-current liabilities — 2,299 Total liabilities of discontinued operations $ — $ 19,671

Leases (Tables)

Leases (Tables)	12 Months Ended
	Apr. 30, 2021
Leases [Abstract]
Schedule of Assets and Liabilities Related to Operating and Financing Leases	The amounts of assets and liabilities related to our operating and financing leases as of April 30, 2021 were as follows (in thousands): Balance Sheet Caption April 30, 2021 Operating Leases Right-of-use assets $ 7,126 Accumulated amortization (2,363 ) Right-of-use assets, net Other assets $ 4,763 Current liabilities Accrued expenses and deferred revenue $ 1,309 Non-current liabilities Other non-current liabilities 3,630 Total operating lease liabilities $ 4,939 Finance Leases Right-of-use assets $ 40,986 Accumulated depreciation (4,231 ) Right-of-use assets, net Property, plant, and equipment, net $ 36,755 Current liabilities Accrued expenses and deferred revenue $ 1,087 Non-current liabilities Finance lease payable, net of current portion 38,786 Total finance lease liabilities $ 39,873
Summary of Future Expected Undiscounted Cash Flows	The following table represents future expected undiscounted cashflows, based on the sublease agreement to AOUT, to be received on an annual basis for the next five years and thereafter, as of April 30, 2021 (in thousands): Fiscal Amount 2022 $ 1,864 2023 1,897 2024 1,930 2025 1,964 2026 1,998 Thereafter 28,546 Total future sublease receipts 38,199 Less amounts representing interest (13,335 ) Present value of sublease receipts $ 24,864
Summary of Future Lease Payments for Operating and Finance Leases	Future lease payments for all our operating and finance leases for succeeding fiscal years is as follows (in thousands): Operating Financing Total 2022 $ 1,549 $ 3,056 $ 4,605 2023 1,557 3,071 4,628 2024 1,549 3,125 4,674 2025 330 3,180 3,510 2026 311 3,235 3,546 Thereafter 404 45,548 45,952 Total future lease payments 5,700 61,215 66,915 Less amounts representing interest (761 ) (21,342 ) (22,103 ) Present value of lease payments 4,939 39,873 44,812 Less current maturities of lease liabilities (1,309 ) (1,087 ) (2,396 ) Long-term maturities of lease liabilities $ 3,630 $ 38,786 $ 42,416

Revenue Recognition and Contr_2

Revenue Recognition and Contracts with Customers (Tables)	12 Months Ended
	Apr. 30, 2021
Revenue From Contract With Customer [Abstract]
Schedule of Outstanding Performance Obligations	The following table outlines changes in the balance of our outstanding performance obligations during the year ended April 30, 2021, and 2020 (in thousands): 2021 2020 Outstanding performance obligations at beginning of period $ 14,744 $ 12,213 Revenue recognized (14,957 ) (48,576 ) Revenue deferred 3,120 51,107 Outstanding performance obligations at end of period $ 2,907 $ 14,744

Net Sales (Tables)

Net Sales (Tables)	12 Months Ended
	Apr. 30, 2021
Disclosure Net Sales [Abstract]
Breakdown of Net Sales	The following table sets forth the breakdown of net sales for the fiscal years ended April 30, 2021, 2020, and 2019 (in thousands): For the Years Ended April 30, 2021 2020 2019 Handguns $ 755,735 $ 390,711 $ 336,901 Long Guns 253,340 101,540 107,717 Other Products & Services 50,120 37,367 36,718 Total Net Sales $ 1,059,195 $ 529,618 $ 481,336
Breakdown of Export Net Sales	We sell our products worldwide. The following table sets forth the breakdown of export net sales included in the above table. Our export net sales accounted for 2%, 4%, and 5% of total net sales for the fiscal years ended April 30, 2021, 2020, and 2019, respectively (in thousands): For the Years Ended April 30, Region 2021 2020 2019 Europe $ 5,742 $ 6,280 $ 9,724 Asia 7,255 6,022 3,441 Latin America 4,473 2,284 3,105 All others international 4,382 5,129 10,012 Total international net sales $ 21,852 $ 19,715 (a) $ 26,282 (a) Our international sales were negatively impacted in our fourth fiscal quarter of 2020 as a result of the COVID-19 pandemic.

Property, Plant, and Equipment

Property, Plant, and Equipment (Tables)	12 Months Ended
	Apr. 30, 2021
Property Plant And Equipment [Abstract]
Summary of Property, Plant, and Equipment	The following table summarizes property, plant, and equipment as of April 30, 2021 and 2020 (in thousands): April 30, 2021 April 30, 2020 Machinery and equipment $ 284,947 $ 266,018 Software and hardware 46,648 45,710 Building and improvements 36,525 34,132 Land and improvements 2,817 3,787 Right of use assets 40,986 40,986 411,923 390,633 Less: Accumulated depreciation and amortization (277,862 ) (249,621 ) 134,061 141,012 Construction in progress 7,551 6,727 Total property, plant, and equipment, net $ 141,612 $ 147,739
Summary of Depreciation and Amortization Expense	The following table summarizes depreciation and amortization expense, which includes amortization of intangibles and debt financing costs, by line item for the fiscal years ended April 30, 2021, 2020, and 2019 (in thousands): For the Years Ended April 30, 2021 2020 2019 Cost of sales $ 21,026 $ 21,142 $ 20,760 Research and development 519 584 545 Selling and marketing 533 446 530 General and administrative (a) 8,606 9,113 6,780 Interest expense 891 687 431 Total depreciation and amortization $ 31,575 $ 31,972 $ 29,046 (a) General and administrative expenses included $330,644, $344,527, and $286,261 of amortization for the fiscal years ended April 30, 2021, 2020, and 2019, respectively, which were recorded as a result of our acquisitions.

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Apr. 30, 2021
Inventory Disclosure [Abstract]
Summary of Inventories	The following table sets forth a summary of inventories, net of reserves, stated at lower of cost or market, as of April 30, 2021 and 2020 (in thousands): April 30, 2021 April 30, 2020 Finished goods $ 21,528 $ 60,400 Finished parts 41,738 29,619 Work in process 7,918 6,787 Raw material 7,293 6,935 Total inventories $ 78,477 $ 103,741

Accrued Expenses and Deferred_2

Accrued Expenses and Deferred Revenue (Tables)	12 Months Ended
	Apr. 30, 2021
Payables And Accruals [Abstract]
Summary of Accrued Expenses	The following table sets forth other accrued expenses as of April 30, 2021 and 2020 (in thousands): April 30, 2021 April 30, 2020 Accrued taxes other than income (a) $ 12,210 $ 21,256 Accrued employee benefits 4,780 4,407 Accrued other 3,451 5,456 Deferred revenue (b) 2,907 14,744 Accrued professional fees 2,804 3,675 Accrued distributor incentives 2,414 2,253 Accrued rebates and promotions 2,174 3,335 Current portion of operating lease obligation 1,309 1,506 Current portion of finance lease obligation 1,087 1,046 Total accrued expenses and deferred revenue $ 33,136 $ 57,678 (a) Decrease in accrued taxes other than income is due to the deferral of federal excise tax payments allowed by the Tax and Trade Bureau as a result of the COVID-19 pandemic as of April 30, 2020 . (b) Decrease in deferred revenue due to the fulfillment of performance obligations related to promotional activity.

Self-Insurance Reserves (Tables

Self-Insurance Reserves (Tables)	12 Months Ended
	Apr. 30, 2021
Commitments And Contingencies Disclosure [Abstract]
Summary of Other Liabilities	The following table summarizes the activity in the workers’ compensation, product liability, municipal liability, and medical/dental reserves in the fiscal years ended April 30, 2021 and 2020 (in thousands): For the Year Ended April 30, 2021 2020 Beginning balance $ 9,011 $ 8,423 Additional provision charged to expense 2,484 19,608 Payments (2,026 ) (19,020 ) Ending balance $ 9,469 $ 9,011

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	12 Months Ended
	Apr. 30, 2021
Equity [Abstract]
Share Based Compensation Stock Options Activity	The number of shares and weighted average exercise prices of options for the fiscal years ended April 30, 2021, 2020, and 2019 are as follows: For the Year Ended April 30, 2021 2020 2019 Weighted Weighted Weighted Average Average Average Shares Exercise Price Shares Exercise Price Shares Exercise Price Options outstanding, beginning of year 200,667 $ 7.70 267,761 $ 6.76 316,160 $ 6.69 Exercised during the period (200,667 ) 7.67 (67,094 ) 3.97 (48,399 ) 6.28 Canceled/forfeited during period — — — — — Options outstanding, end of period — — 200,667 $ 7.70 267,761 $ 6.76 Weighted average remaining contractual life — 0.43 years 2.35 years Options exercisable, end of period — — 200,667 $ 7.70 267,761 $ 6.76 Weighted average remaining contractual life — 0.43 years 2.35 years
Summary of Stock Compensation Expense	The following table summarizes stock compensation expense by line item for the fiscal years ended April 30, 2021, 2020, and 2019 (in thousands): For the Years Ended April 30, 2021 2020 2019 Cost of sales $ 740 $ 667 $ 694 Research and development 71 79 62 Selling and marketing 767 155 337 General and administrative 3,128 1,456 5,854 Total stock-based compensation $ 4,706 $ 2,357 (a) $ 6,947 (a) The decrease in general and administrative stock-based compensation expense from fiscal 2019 was because of the separation of our former President and Chief Executive Officer.
Share Based Payment Award Performance Shares Valuation Assumptions	We incorporate the following variables into the valuation model: For the Years Ended April 30, 2021 2020 2019 Grant date fair market value Smith & Wesson Brands, Inc $ 16.99 - 17.27 $ 7.80 $ 9.85 Russell 2000 Index $ 1,526.46 - 1,571.21 $ 1,138.78 $ 1,591.21 Volatility (a) Smith & Wesson Brands, Inc 59.09% - 61.34% 54.02 % 45.19 % Russell 2000 Index 27.62% - 29.27% 24.66 % 15.65 % Correlation coefficient (b) 0.1242 - 0.1302 0.11 0.14 Risk-free interest rate (c) 0.16% - 0.22% 0.35 % 2.23 % Dividend yield (d) 0.95 % 0 % 0 % (a) Expected volatility is calculated over the most recent period that represents the remaining term of the performance period as of the valuation date, or three years. (b) The correlation coefficient utilizes the same historical price data used to develop the volatility assumptions. (c) The risk-free interest rate is based on the yield of a zero-coupon U.S. Treasury bill, commensurate with the three-year (d) We did not pay dividends in fiscal 2020 and 2019.
Summary of Activity for Unvested RSUs and PSUs	A summary of activity for unvested RSUs and PSUs for fiscal years 2021, 2020, and 2019 is as follows: For the Year Ended April 30, 2021 2020 2019 Weighted Weighted Weighted Total # of Average Total # of Average Total # of Average RSUs and Grant Date RSUs and Grant Date RSUs and Grant PSUs Fair Value PSUs Fair Value PSUs Fair Value RSUs and PSUs outstanding, beginning of period 1,313,974 $ 10.86 1,631,631 $ 15.44 1,442,317 $ 17.80 Awarded 270,315 16.54 578,300 5.75 541,785 10.65 Vested (407,545 ) 14.57 (296,139 ) 17.05 (206,572 ) 19.11 Forfeited (180,865 ) 15.18 (599,818 ) 15.34 (145,899 ) 16.11 RSUs and PSUs outstanding, end of period 995,879 $ 11.14 1,313,974 $ 10.86 1,631,631 $ 15.44
Schedule of Assumptions used in Valuing ESPP Purchases	The following assumptions were used in valuing our ESPP purchases during the years ended April 30, 2021, 2020, and 2019: For the Years Ended April 30, 2021 2020 2019 Risk-free interest rate 0.08 % 1.24 % 2.21 % Expected term (a) 6 months 4 & 6 months 6 months Expected volatility (b) 70.93 % 63.6 % 45.3 % Dividend yield (c) 1.17 % 0 % 0 % (a) The 2 nd (b) We believe our expected volatility increased in fiscal 2020 primarily due to market and stock price fluctuations as a result of the COVID-19 pandemic. (c) We did not pay dividends in fiscal 2020 and 2019.

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Apr. 30, 2021
Income Tax Disclosure [Abstract]
Income Tax Expense/(Benefit) from Continuing Operations	Income tax expense/(benefit) from continuing operations consisted of the following (in thousands): For the Year Ended April 30, 2021 2020 2019 Current: Federal $ 64,417 $ 9,877 $ 5,567 State 9,530 1,841 1,918 Total current 73,947 11,718 7,485 Deferred: Deferred federal 358 (164 ) 1,665 Deferred state 89 (32 ) 134 Total deferred 447 (196 ) 1,799 Total income tax expense/(benefit) $ 74,394 $ 11,522 $ 9,284
Reconciliation of Provision for Income Taxes from Continuing Operations	The following table presents a reconciliation of the provision for income taxes from continuing operations at statutory rates to the provision (benefit) in the consolidated financial statements (in thousands): For the Year Ended April 30, 2021 2020 2019 Federal income taxes expected at the statutory rate (a) $ 66,773 $ 8,233 $ 7,183 State income taxes, less federal income tax benefit 7,685 1,628 1,737 Stock compensation (578 ) 1,077 646 Business meals and entertainment 115 257 144 Research and development tax credit (297 ) (496 ) (460 ) Non-deductible Separation expenses 195 688 — Other 501 135 105 Federal tax rate change on deferred taxes — — (71 ) Total income tax expense/(benefit) $ 74,394 $ 11,522 $ 9,284 (a) We had a statutory rate of 21% in fiscal 2021, 2020 and 2019.
Deferred Tax Assets (Liabilities) Related to Temporary Differences	Deferred tax assets (liabilities) related to temporary differences are the following (in thousands): For the Years Ended April 30, 2021 2020 Non-current tax assets (liabilities): Net operating loss carryforwards and tax credits $ 3,189 $ 3,158 Inventories 4,508 6,082 Accrued expenses, including compensation 4,952 4,063 Product liability 263 434 Accrued promotions 139 69 Workers' compensation 497 486 Warranty reserve 1,303 987 Stock-based compensation 1,517 2,319 State bonus depreciation 888 1,287 Property taxes (250 ) (254 ) Property, plant, and equipment (13,994 ) (15,889 ) Intangible assets (914 ) (633 ) Right-of-use assets (1,091 ) (1,685 ) Right-of-use liabilities 1,131 1,734 Pension 293 241 Other (38 ) 331 Less valuation allowance (3,297 ) (3,187 ) Net deferred tax asset/(liability) — total $ (904 ) $ (457 )

Significant Accounting Polici_4

Significant Accounting Policies - Additional Information (Detail)	12 Months Ended
	Apr. 30, 2021USD ($)Customer	Apr. 30, 2020USD ($)Customer	Apr. 30, 2019USD ($)Customer	Feb. 01, 2021USD ($)	May 01, 2019USD ($)
Product Information [Line Items]
Maximum maturity period of all highly liquid investments to be considered cash equivalents	3 months
Goodwill	$ 19,024,000	$ 19,024,000		$ 19,000,000
Remaining estimated cost related to recalls, safety alerts, and consumer advisories	323,000
Warranty expense	5,200,000	1,800,000	$ 2,700,000
Promotional programs amount	10,500,000	43,600,000	39,200,000
Selling and marketing expenses	15,200,000	9,200,000	8,000,000
Right-of-use assets recognition	4,763,000
Lease liabilities recognition	$ 4,939,000
Self Insurance
Product Information [Line Items]
Maximum amount of self-insurance per occurrence		$ 10,000,000
Cost of sales
Product Information [Line Items]
Costs in selling, marketing, and distribution expenses			$ 4,400,000
ASU 2014-09
Product Information [Line Items]
Description of payment terms	We generally sell our products free on board, or FOB, shipping point and provide payment terms to most commercial customers ranging from 20 to 90 days of product shipment with a discount available to some customers for early payment. Generally, framework contracts define the general terms of sales, including payment terms, freight terms, insurance requirements, and cancelation provisions. Purchase orders define the terms for specific sales, including description, quantity, and price of each product purchased. We estimate variable consideration relative to the amount of cash discounts to which customers are likely to be entitled. In some instances, we provide longer payment terms, particularly as it relates to our fall dating programs for hunting sales, which represent payment terms due in the fall for certain orders of hunting products received in the spring and summer. As a result of utilizing practical expedience upon the adoption of ASC 606, we do not consider these extended terms to be a significant financing component of the contract because the payment terms are less than one year.
ASU 2016-02
Product Information [Line Items]
Right-of-use assets recognition					$ 11,500,000
Lease liabilities recognition					12,800,000
Reclassification of deferred rent and lease incentive liabilities related to real estate operating leases					$ 1,300,000
Other Capitalized Property Plant and Equipment | Maximum
Product Information [Line Items]
Estimated useful life	10 years
Sales, net | Customer Concentration Risk
Product Information [Line Items]
Number of Customers Accounted for Net Sales. | Customer	4	4	1
Sales, net | Customer Concentration Risk | Customer One
Product Information [Line Items]
Concentration of risk, percentage	10.00%	10.00%	10.40%
Sales, net | Customer Concentration Risk | Customer Four
Product Information [Line Items]
Concentration of risk, percentage	45.00%	43.90%
Accounts Receivable | Customer Concentration Risk
Product Information [Line Items]
Number of Customers Accounted for Accounts Receivable | Customer	2	3	1
Accounts Receivable | Customer Concentration Risk | Customer One
Product Information [Line Items]
Concentration of risk, percentage	10.00%		23.10%
Accounts Receivable | Customer Concentration Risk | Customer Two
Product Information [Line Items]
Concentration of risk, percentage	28.40%
Accounts Receivable | Customer Concentration Risk | Customer Three
Product Information [Line Items]
Concentration of risk, percentage		45.30%
Level 2
Product Information [Line Items]
Fair value of financial instrument	$ 0

Significant Accounting Polici_5

Significant Accounting Policies - Summary of Estimated Useful Lives (Detail)	12 Months Ended
	Apr. 30, 2021
Building and improvements | Minimum
Property Plant And Equipment [Line Items]
Estimated useful life	10 years
Building and improvements | Maximum
Property Plant And Equipment [Line Items]
Estimated useful life	40 years
Software and hardware | Minimum
Property Plant And Equipment [Line Items]
Estimated useful life	2 years
Software and hardware | Maximum
Property Plant And Equipment [Line Items]
Estimated useful life	7 years
Machinery and equipment | Minimum
Property Plant And Equipment [Line Items]
Estimated useful life	2 years
Machinery and equipment | Maximum
Property Plant And Equipment [Line Items]
Estimated useful life	10 years

Significant Accounting Polici_6

Significant Accounting Policies - Reconciliation of Net Income/(Loss) Amounts and Weighted Average Number of Common and Common Equivalent Shares Used to Determine Basic and Diluted (Loss)/Earnings per Common Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Apr. 30, 2021	Apr. 30, 2020	Apr. 30, 2019
Net income/(loss)
Income from continuing operations	$ 243,571	$ 27,653	$ 24,920
Income/(loss) from discontinued operations	8,478	(88,883)	(6,510)
Net income/(loss)	$ 252,049	$ (61,230)	$ 18,410
Weighted average shares outstanding — Basic	54,613	54,983	54,483
Effect of dilutive stock awards	739	682	733
Weighted average shares outstanding — Diluted	55,352	55,665	55,216
Earnings/(loss) per share — Basic
Income from continuing operations	$ 4.46	$ 0.50	$ 0.46
Income/(loss) from discontinued operations	0.16	(1.62)	(0.12)
Basic - net income/(loss)	4.62	(1.11)	0.34
Earnings/(loss) per share — Diluted
Income from continuing operations	4.40	0.50	0.45
Income/(loss) from discontinued operations	0.15	(1.60)	(0.12)
Diluted - net income/(loss)	$ 4.55	$ (1.10)	$ 0.33

Significant Accounting Polici_7

Significant Accounting Policies - Change in Accrued Warranties Recorded as Non-Current Liability (Detail) - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2021	Apr. 30, 2020
Accounting Policies [Abstract]
Beginning Balance	$ 3,896	$ 5,026
Warranties issued and adjustments to provisions	5,163	1,757
Warranty claims	(3,366)	(2,887)
Ending Balance	$ 5,693	$ 3,896

Discontinued Operations - Addit

Discontinued Operations - Additional Information (Detail) - USD ($)	12 Months Ended
	Apr. 30, 2021	Apr. 30, 2020	Apr. 30, 2019	Aug. 24, 2020	Aug. 10, 2020
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Reverse stock split description	one share of AOUT common stock for every four shares of our common
Business separation expenses	$ 8,400,000
Income/(loss) from discontinued operations, net of tax	8,478,000	$ (88,883,000)	$ (6,510,000)
Outdoor Products and Accessories Business
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Income/(loss) from discontinued operations, net of tax	8,500,000	$ (88,900,000)	$ (6,500,000)
American Outdoor Brands Inc.
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Stockholders ownership percentage				0.00%	100.00%
Gain/(loss) recognized on Separation	0
Cash distributed for Separation	25,000,000
Divested net assets	$ 260,400,000

Discontinued Operations - Summa

Discontinued Operations - Summary of Major Business Line Items Included in Discontinued Operations in Condensed Consolidation Statements of Income/(Loss) and Comprehensive Income/(Loss) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2021	Apr. 30, 2020	Apr. 30, 2019
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Income/(loss) from discontinued operations before income taxes	$ 8,478	$ (88,883)	$ (6,510)
Income/(loss) from discontinued operations, net of tax	8,478	(88,883)	(6,510)
Outdoor Products and Accessories Business
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Income/(loss) from discontinued operations, net of tax	8,500	(88,900)	(6,500)
Spin-off | Outdoor Products and Accessories Business
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Net revenues	61,249	148,776	156,942
Cost of sales	27,147	79,760	76,994
Operating expenses	23,458	168,140	85,408
Interest income/(expense), net	112	21	(6)
Other income/(expense), net		(21)
Income/(loss) from discontinued operations before income taxes	10,756	(99,124)	(5,466)
Income tax expense/(benefit)	2,278	(10,241)	1,044
Income/(loss) from discontinued operations, net of tax	$ 8,478	$ (88,883)	$ (6,510)

Discontinued Operations - Sum_2

Discontinued Operations - Summary of Carrying Amounts of Major Classes of Assets and Liabilities of Discontinued Operations (Detail) $ in Thousands	Apr. 30, 2020USD ($)
Discontinued Operations And Disposal Groups [Abstract]
Cash and cash equivalents	$ 387
Accounts receivable, net	32,554
Inventories	60,450
Prepaid expenses and other current assets	1,282
Property, plant, and equipment, net	9,678
Intangible assets, net	69,379
Goodwill	64,581
Deferred income taxes	2,950
Other assets	1,897
Total assets of discontinued operations	243,158
Current liabilities	17,372
Other non-current liabilities	2,299
Total liabilities of discontinued operations	$ 19,671

Leases - Schedule of Assets and

Leases - Schedule of Assets and Liabilities Related to Operating and Financing Leases (Detail) - USD ($) $ in Thousands	Apr. 30, 2021	Apr. 30, 2020
Operating Leases
Right-of-use assets	$ 7,126
Accumulated amortization	(2,363)
Right-of-use assets, net	$ 4,763
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Other assets
Current liabilities	$ 1,309	$ 1,506
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Accrued expenses and deferred revenue
Non-current liabilities	$ 3,630
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Other non-current liabilities
Total operating lease liabilities	$ 4,939
Finance Leases
Right-of-use assets	40,986	40,986
Accumulated depreciation	(4,231)
Right-of-use assets, net	$ 36,755
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	swbi:PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
Current liabilities	$ 1,087	1,046
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	Accrued expenses and deferred revenue
Non-current liabilities	$ 38,786	$ 39,873
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Non-current liabilities
Total finance lease liabilities	$ 39,873

Leases - Additional Information

Leases - Additional Information (Detail)	12 Months Ended
	Apr. 30, 2021USD ($)
Lessee Lease Description [Line Items]
Operating lease cost	$ 1,800,000
Short-term operating lease costs	216,000
Finance lease amortization	2,100,000
Financing lease interest expense	$ 2,000,000
Operating leases, weighted average lease term	4 years 1 month 6 days
Operating leases, weighted average discount rate	4.50%
Financing leases, weighted average lease term	17 years 6 months
Financing leases, weighted average discount rate	5.00%
Percentage of sublease	59.00%
Cash paid for amounts included in measurement of liabilities and operating cash flows	$ 4,700,000
Other Income/(Expense)
Lessee Lease Description [Line Items]
Income related to sublease agreement	$ 1,700,000

Leases - Summary of Future Expe

Leases - Summary of Future Expected Undiscounted Cash Flows (Details) $ in Thousands	Apr. 30, 2021USD ($)
Leases [Abstract]
2022	$ 1,864
2023	1,897
2024	1,930
2025	1,964
2026	1,998
Thereafter	28,546
Total future sublease receipts	38,199
Less amounts representing interest	(13,335)
Present value of sublease receipts	$ 24,864

Leases - Summary of Future Leas

Leases - Summary of Future Lease Payments for Operating and Finance Leases (Detail) - USD ($) $ in Thousands	Apr. 30, 2021	Apr. 30, 2020
Operating and Finance Lease liabilities payments
2022	$ 4,605
2023	4,628
2024	4,674
2025	3,510
2026	3,546
Thereafter	45,952
Total future lease payments	66,915
Less amounts representing interest	(22,103)
Present value of lease payments	44,812
Less current maturities of lease liabilities	(2,396)
Long-term maturities of lease liabilities	42,416
Operating Leases
2022	1,549
2023	1,557
2024	1,549
2025	330
2026	311
Thereafter	404
Total future lease payments	5,700
Less amounts representing interest	(761)
Total operating lease liabilities	4,939
Less current maturities of lease liabilities	(1,309)	$ (1,506)
Long-term maturities of lease liabilities	3,630
Financing Leases
2022	3,056
2023	3,071
2024	3,125
2025	3,180
2026	3,235
Thereafter	45,548
Total future lease payments	61,215
Less amounts representing interest	(21,342)
Total finance lease liabilities	39,873
Less current maturities of lease liabilities	(1,087)	(1,046)
Non-current liabilities	$ 38,786	$ 39,873

Revenue Recognition and Contr_3

Revenue Recognition and Contracts with Customers - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2021	Apr. 30, 2020	Apr. 30, 2019
Disaggregation Of Revenue [Line Items]
Revenue recognized	$ 15,000	$ 48,600
Deferred revenue recognized		13,700	$ 10,500
Additional deferred revenue for outstanding performance obligations	3,100	51,100
Net increase (decrease) of revenue	11,800	(2,500)
ASU 2014-09
Disaggregation Of Revenue [Line Items]
Revenue recognized	(14,957)	(48,576)
Additional deferred revenue for outstanding performance obligations	$ 3,120	$ 51,107
Total Net Sales | ASU 2014-09 | Geographic Concentration Risk | Domestic
Disaggregation Of Revenue [Line Items]
Concentration risk percentage	98.00%

Revenue Recognition and Contr_4

Revenue Recognition and Contracts with Customers - Schedule of Outstanding Performance Obligations (Detail) - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2021	Apr. 30, 2020
Disaggregation Of Revenue [Line Items]
Revenue recognized	$ 15,000	$ 48,600
Revenue deferred	3,100	51,100
ASU 2014-09
Disaggregation Of Revenue [Line Items]
Outstanding performance obligations at beginning of period	14,744	12,213
Revenue recognized	(14,957)	(48,576)
Revenue deferred	3,120	51,107
Outstanding performance obligations at end of period	$ 2,907	$ 14,744

Notes, Loans Payable, and Fin_2

Notes, Loans Payable, and Financing Arrangements - Additional Information (Detail) - USD ($)	Aug. 24, 2020	Apr. 30, 2021	Apr. 30, 2020	Apr. 30, 2019
Debt Instrument [Line Items]
Amortization to interest expense for all debt issuance costs		$ 890,553	$ 687,000	$ 431,000
Notes Payable
Debt Instrument [Line Items]
Debt issuance cost		450,000	$ 875,000	$ 0
Debt issuance write-off costs		$ 689,000
Maximum
Debt Instrument [Line Items]
Swingline Loan	$ 5,000,000
Swingline Loan
Debt Instrument [Line Items]
Interest description of revolving line of credit		Each Swingline Loan (as defined in the Amended and Restated Credit Agreement) bears interest at the Base Rate, plus an applicable margin based on our consolidated leverage ratio.
Unsecured Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit facility, borrowing capacity	100,000,000
Interest description of revolving line of credit		The Revolving Line bears interest at either the Base Rate or LIBOR rate, plus an applicable margin based on our consolidated leverage ratio.
Credit facility additional borrowing capacity option to increase maximum borrowing capacity	$ 50,000,000
Credit facility, maturity	Aug. 24, 2025
Credit Facilities
Debt Instrument [Line Items]
Borrowings outstanding		$ 0
Outstanding letters of credit		2,700,000
Credit Facilities | Self Insurance
Debt Instrument [Line Items]
Outstanding letters of credit		$ 1,500,000
Credit Facilities | LIBOR Rate
Debt Instrument [Line Items]
Interest rate on borrowings		1.61%

Net Sales - Breakdown of Net sa

Net Sales - Breakdown of Net sale (Detail) - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2021	Apr. 30, 2020	Apr. 30, 2019
Segment Reporting Revenue Reconciling Item [Line Items]
Total Net Sales	$ 1,059,195	$ 529,618	$ 481,336
Handguns
Segment Reporting Revenue Reconciling Item [Line Items]
Total Net Sales	755,735	390,711	336,901
Long Guns
Segment Reporting Revenue Reconciling Item [Line Items]
Total Net Sales	253,340	101,540	107,717
Other products and services
Segment Reporting Revenue Reconciling Item [Line Items]
Total Net Sales	$ 50,120	$ 37,367	$ 36,718

Net Sales - Additional Informat

Net Sales - Additional Information (Detail)	12 Months Ended
	Apr. 30, 2021	Apr. 30, 2020	Apr. 30, 2019
Disclosure Net Sales [Abstract]
Export sales as percentage of revenue	2.00%	4.00%	5.00%

Net Sales - Breakdown of Export

Net Sales - Breakdown of Export Net Sales (Detail) - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2021	Apr. 30, 2020	Apr. 30, 2019
Concentration Risk [Line Items]
Net sales	$ 1,059,195	$ 529,618	$ 481,336
Europe
Concentration Risk [Line Items]
Net sales	5,742	6,280	9,724
Asia
Concentration Risk [Line Items]
Net sales	7,255	6,022	3,441
Latin America
Concentration Risk [Line Items]
Net sales	4,473	2,284	3,105
All others international
Concentration Risk [Line Items]
Net sales	4,382	5,129	10,012
Total International
Concentration Risk [Line Items]
Net sales	$ 21,852	$ 19,715	$ 26,282

Advertising Costs - Additional

Advertising Costs - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Apr. 30, 2021	Apr. 30, 2020	Apr. 30, 2019
Selling and Marketing Expense
Advertising Costs [Line Items]
Advertising expense for continuing operations	$ 12.5	$ 13.6	$ 13.4

Property, Plant, and Equipmen_2

Property, Plant, and Equipment - Summary of Property, Plant, and Equipment (Detail) - USD ($) $ in Thousands	Apr. 30, 2021	Apr. 30, 2020
Property Plant And Equipment [Abstract]
Machinery and equipment	$ 284,947	$ 266,018
Software and hardware	46,648	45,710
Building and improvements	36,525	34,132
Land and improvements	2,817	3,787
Right-of-use assets	40,986	40,986
Property plant and equipment gross	411,923	390,633
Less: Accumulated depreciation and amortization	(277,862)	(249,621)
Property plant and equipment before construction in progress	134,061	141,012
Construction in progress	7,551	6,727
Total property, plant, and equipment, net	$ 141,612	$ 147,739

Property, Plant, and Equipmen_3

Property, Plant, and Equipment - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2021	Apr. 30, 2020	Apr. 30, 2019
Property Plant And Equipment [Line Items]
Depreciation and amortization expense	$ 31,575	$ 31,972	$ 29,046
Software
Property Plant And Equipment [Line Items]
Depreciation and amortization expense	$ 30,100	$ 30,500	$ 28,100

Property, Plant, and Equipmen_4

Property, Plant, and Equipment - Summary of Depreciation and Amortization Expense (Detail) - USD ($) $ in Thousands		12 Months Ended
		Apr. 30, 2021	Apr. 30, 2020	Apr. 30, 2019
Depreciation and Other Amortization Expenses [Line Items]
Depreciation and amortization		$ 31,575	$ 31,972	$ 29,046
Cost of sales
Depreciation and Other Amortization Expenses [Line Items]
Depreciation and amortization		21,026	21,142	20,760
Research and development
Depreciation and Other Amortization Expenses [Line Items]
Depreciation and amortization		519	584	545
Selling and marketing
Depreciation and Other Amortization Expenses [Line Items]
Depreciation and amortization		533	446	530
General and administrative
Depreciation and Other Amortization Expenses [Line Items]
Depreciation and amortization	[1]	8,606	9,113	6,780
Interest expense
Depreciation and Other Amortization Expenses [Line Items]
Depreciation and amortization		$ 891	$ 687	$ 431
[1]	General and administrative expenses included $330,644, $344,527, and $286,261 of amortization for the fiscal years ended April 30, 2021, 2020, and 2019, respectively, which were recorded as a result of our acquisitions.

Property, Plant, and Equipmen_5

Property, Plant, and Equipment - Summary of Depreciation and Amortization Expense (Parenthetical) (Detail) - USD ($) $ in Millions	12 Months Ended
	Apr. 30, 2021	Apr. 30, 2020	Apr. 30, 2019
Property Plant And Equipment [Abstract]
Amortization expenses recorded as a result of acquisition	$ 330,644	$ 344,527	$ 286,261

Inventories - Summary of Invent

Inventories - Summary of Inventories (Detail) - USD ($) $ in Thousands	Apr. 30, 2021	Apr. 30, 2020
Inventory Disclosure [Abstract]
Finished goods	$ 21,528	$ 60,400
Finished parts	41,738	29,619
Work in process	7,918	6,787
Raw material	7,293	6,935
Total inventories	$ 78,477	$ 103,741

Accrued Expenses and Deferred_3

Accrued Expenses and Deferred Revenue - Summary of Accrued Expenses (Detail) - USD ($) $ in Thousands		Apr. 30, 2021	Apr. 30, 2020
Payables And Accruals [Abstract]
Accrued taxes other than income	[1]	$ 12,210	$ 21,256
Accrued employee benefits		4,780	4,407
Accrued other		3,451	5,456
Deferred revenue	[2]	2,907	14,744
Accrued professional fees		2,804	3,675
Accrued distributor incentives		2,414	2,253
Accrued rebates and promotions		2,174	3,335
Current portion of operating lease obligation		1,309	1,506
Current portion of finance lease obligation		1,087	1,046
Total accrued expenses and deferred revenue		$ 33,136	$ 57,678
[1]	Decrease in accrued taxes other than income is due to the deferral of federal excise tax payments allowed by the Tax and Trade Bureau as a result of the COVID-19 pandemic as of April 30, 2020
[2]	Decrease in deferred revenue due to the fulfillment of performance obligations related to promotional activity.

Fair Value Measurement - Additi

Fair Value Measurement - Additional Information (Detail) - USD ($)	Apr. 30, 2021	Apr. 30, 2020
(Level 1) | Fair Value on Recurring Basis
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 113,000,000	$ 125,000,000
(Level 2)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Financial assets	0
Financial liabilities	0
(Level 3)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Financial assets	0
Financial liabilities	$ 0

Self-Insurance Reserves - Addit

Self-Insurance Reserves - Additional Information (Detail) - USD ($)	Apr. 30, 2021	Apr. 30, 2020	Apr. 30, 2019
Commitments And Contingencies Disclosure [Abstract]
Reserves for workers' compensation, product liability, municipal liability, and medical/dental costs	$ 9,469,000	$ 9,011,000	$ 8,423,000
Reserves for workers' compensation, product liability, municipal liability, and medical/dental costs, Non-current portion	5,000,000	4,500,000
Reserves for workers' compensation, product liability, municipal liability, and medical/dental costs, included in accrued expenses	4,500,000	4,500,000
Workers' compensation receivable classified as an other assets	614,000	620,000
Accrued reserves for product and municipal litigation liabilities	4,000,000	3,700,000
Accrued reserves for product and municipal litigation liabilities, Non-current portion	2,900,000	2,600,000
Receivables from insurance carriers, included in other assets	$ 0	$ 1,900,000

Self-Insurance Reserves - Summa

Self-Insurance Reserves - Summary of Other Liabilities (Detail) - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2021	Apr. 30, 2020
Commitments And Contingencies Disclosure [Abstract]
Beginning balance	$ 9,011	$ 8,423
Additional provision charged to expense	2,484	19,608
Payments	(2,026)	(19,020)
Ending balance	$ 9,469	$ 9,011

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail)	May 01, 2021USD ($)shares	Apr. 30, 2021USD ($)OptionPlanshares	Apr. 30, 2020USD ($)shares		Apr. 30, 2019USD ($)shares	Mar. 02, 2021USD ($)	Aug. 24, 2020shares	Apr. 30, 2018shares	Sep. 23, 2013shares	Sep. 26, 2011shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of stock incentive plans | OptionPlan		2
Stock options, outstanding, Number		0	200,667		267,761			316,160
Stock options exercisable, Number		0	200,667		267,761
Intrinsic value of stock outstanding | $			$ 356,000		$ 826,000
Intrinsic value of stock exercisable | $			356,000		826,000
Intrinsic value of stock exercised | $		$ 2,900,000	260,000		285,000
Performance period		3 years
Percentage of maximum aggregate award granted		200.00%
Percentage of stock outperform in order for target award to vest		5.00%
Stock-based compensation expense | $		$ 4,706,000	2,357,000	[1]	6,947,000
Grant date fair value of vested RSUs and PSUs | $		$ 5,900,000	$ 5,000,000		$ 3,900,000
2011 Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Option exercise price per share as a percentage of fair market value		85.00%
Number of shares an employee may purchase under the stock purchase plan		12,500
Fair market value of shares an employee may purchase under the stock purchase plan | $		$ 25,000
Shares issued under employee stock purchase plan		204,482	380,209		230,282
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock units, awarded		234,007	400,483		360,185
Stock units, forfeited		88,365	232,793		33,899
Grant date fair value of vested RSUs and PSUs | $		$ 5,800,000	$ 2,600,000		$ 2,500,000
PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period		3 years
Stock units, forfeited		92,500	367,025		112,000
RSUs and PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense | $		$ 2,700,000
Stock units, awarded		270,315	578,300		541,785
Stock units, forfeited		180,865	599,818		145,899
Stock units, vested		407,545	296,139		206,572
Weighted average remaining contractual term		1 year 4 months 24 days
Employees | RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock units, vested		357,345	296,139		206,572
Directors | RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		1 year
Vesting, percentage		0.083%
Stock units, awarded		25,570	115,600		49,509
Former Chief Financial Officer | RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
PSUs converted to RSUs		50,200
Former Chief Financial Officer | PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock units, vested		50,200
Grant date fair value of vested RSUs and PSUs | $		$ 1,300,000
Executive Officer | RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock units, awarded		68,461	113,770		167,818
Executive Officer | PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock units, awarded		36,308	105,767		181,600
Non-Executive Officer Employees | RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock units, awarded		139,976	211,073		142,858
Non-Executive Officer Employees | PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock units, awarded			32,050
Employees And Consultants | RSUs and PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense | $		$ 3,400,000	$ 2,300,000		$ 7,300,000
Spin-off | RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock units, forfeited		57,547
Spin-off | PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock units, forfeited		28,800
Spin-off | American Outdoor Brands Inc.
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options, outstanding, Number							1
Stock option conversion description		one option award outstanding that could be converted into 10,000 shares of SWBI common stock
Unrecognized compensation expense | $		$ 1,100,000
Incremental compensation cost recognized | $		738,000
Spin-off | American Outdoor Brands Inc. | RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense | $		740,000
Spin-off | American Outdoor Brands Inc. | PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized incremental compensation expense | $		$ 380,000
Service Period Condition not Met | RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock units, forfeited		30,818
Performance Targets not Achieved | PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock units, forfeited		63,700
2013 Incentive Stock Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Authorized of common stock									3,000,000
Vesting period		4 years
Stock option, exercisable period		10 years
Shares available for grant under incentive stock option		3,967,603
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payroll deduction of participant's compensation		20.00%
Maximum | 2011 Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved under employee stock purchase plan										6,000,000
Maximum | Employees | RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		4 years
Vesting, percentage		0.25%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payroll deduction of participant's compensation		1.00%
Minimum | Employees | RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		3 years
Vesting, percentage		0.33%
Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued under employee stock purchase plan		205,000	380,000		231,000
Common Stock | Transactions Until December 14, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Repurchase of common stock		2,737,489
Cash on hand utilized for repurchase of shares | $		$ 50,000,000
Common Stock | Transaction Until March 1, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock repurchase authorization | $						$ 100,000,000
Repurchase of common stock		3,380,447
Cash on hand utilized for repurchase of shares | $		$ 60,000,000
Common Stock | Transaction Until March 1, 2022 | Subsequent Event
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Repurchase of common stock	1,967,420
Cash on hand utilized for repurchase of shares | $	$ 40,000,000
Common Stock | Maximum | Transactions Until December 14, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock repurchase authorization | $		$ 50,000,000
[1]	The decrease in general and administrative stock-based compensation expense from fiscal 2019 was because of the separation of our former President and Chief Executive Officer.

Stockholders' Equity - Share Ba

Stockholders' Equity - Share Based Compensation Stock Options Activity (Detail) - $ / shares	12 Months Ended
	Apr. 30, 2021	Apr. 30, 2020	Apr. 30, 2019
Shares
Options outstanding, beginning of year, Shares	200,667	267,761	316,160
Exercised during the period, Shares	(200,667)	(67,094)	(48,399)
Options outstanding, end of period, Shares	0	200,667	267,761
Weighted average remaining contractual life		5 months 4 days	2 years 4 months 6 days
Options exercisable, end of period, Shares	0	200,667	267,761
Weighted average remaining contractual life		5 months 4 days	2 years 4 months 6 days
Weighted-Average Exercise Price
Options outstanding, beginning of year, Weighted-Average Exercise Price	$ 7.70	$ 6.76	$ 6.69
Exercised during period, Weighted-Average Exercise Price	$ 7.67	3.97	6.28
Options outstanding, end of period, Weighted-Average Exercise Price		7.70	6.76
Options exercisable, end of period, Weighted-Average Exercise Price		$ 7.70	$ 6.76

Stockholders' Equity - Summary

Stockholders' Equity - Summary of Stock Compensation Expense (Detail) - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2021	Apr. 30, 2020		Apr. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 4,706	$ 2,357	[1]	$ 6,947
Cost of sales
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	740	667		694
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	71	79		62
Selling and marketing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	767	155		337
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 3,128	$ 1,456		$ 5,854
[1]	The decrease in general and administrative stock-based compensation expense from fiscal 2019 was because of the separation of our former President and Chief Executive Officer.

Stockholders' Equity - Share _2

Stockholders' Equity - Share Based Payment Award Performance Shares Valuation Assumptions (Detail) - PSUs		12 Months Ended
		Apr. 30, 2021CorrelationCoefficient$ / shares	Apr. 30, 2020CorrelationCoefficient$ / shares	Apr. 30, 2019CorrelationCoefficient$ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Correlation coefficient | CorrelationCoefficient	[1]		0.11	0.14
Risk-free interest rate, minimum	[2]	0.16%
Risk-free interest rate	[2]		0.35%	2.23%
Risk-free interest rate, maximum	[2]	0.22%
Dividend yield	[3]	0.95%	0.00%	0.00%
Smith & Wesson Brands, Inc.
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant date fair market value			$ 7.80	$ 9.85
Volatility, minimum	[4]	59.09%
Volatility	[4]		54.02%	45.19%
Volatility, maximum	[4]	61.34%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Correlation coefficient | CorrelationCoefficient	[1]	0.1242
Minimum | Smith & Wesson Brands, Inc.
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant date fair market value		$ 16.99
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Correlation coefficient | CorrelationCoefficient	[1]	0.1302
Maximum | Smith & Wesson Brands, Inc.
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant date fair market value		$ 17.27
Russell 2000 Index
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant date fair market value			$ 1,138.78	$ 1,591.21
Volatility, minimum	[4]	27.62%
Volatility	[4]		24.66%	15.65%
Volatility, maximum	[4]	29.27%
Russell 2000 Index | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant date fair market value		$ 1,526.46
Russell 2000 Index | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant date fair market value		$ 1,571.21
[1]	The correlation coefficient utilizes the same historical price data used to develop the volatility assumptions.
[2]	The risk-free interest rate is based on the yield of a zero-coupon U.S. Treasury bill, commensurate with the three-year
[3]	We did not pay dividends in fiscal 2020 and 2019.
[4]	Expected volatility is calculated over the most recent period that represents the remaining term of the performance period as of the valuation date, or three years.

Stockholders' Equity - Share _3

Stockholders' Equity - Share Based Payment Award Performance Shares Valuation Assumptions (Parenthetical) (Detail)	12 Months Ended
	Apr. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance based restricted stock unit performance period	3 years
PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance based restricted stock unit performance period	3 years

Stockholders' Equity - Summar_2

Stockholders' Equity - Summary of Activity for Unvested RSUs and PSUs (Detail) - RSUs and PSUs - $ / shares	12 Months Ended
	Apr. 30, 2021	Apr. 30, 2020	Apr. 30, 2019
Summary of activity in unvested restricted stock units and performance share units
RSUs and PSUs outstanding, beginning of period	1,313,974	1,631,631	1,442,317
RSUs and PSUs, Awarded	270,315	578,300	541,785
RSUs and PSUs, Vested	(407,545)	(296,139)	(206,572)
RSUs and PSUs, Forfeited	(180,865)	(599,818)	(145,899)
RSUs and PSUs outstanding, end of period	995,879	1,313,974	1,631,631
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value
Weighted Average Grant Date Fair Value, RSUs and PSUs outstanding, beginning of period	$ 10.86	$ 15.44	$ 17.80
Weighted Average Grant Date Fair Value, Awarded	16.54	5.75	10.65
Weighted Average Grant Date Fair Value, Vested	14.57	17.05	19.11
Weighted Average Grant Date Fair Value, Forfeited	15.18	15.34	16.11
Weighted Average Grant Date Fair Value, RSUs and PSUs outstanding, end of period	$ 11.14	$ 10.86	$ 15.44

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Assumptions used in Valuing ESPP Purchases (Detail) - Employee Stock Purchase Plan		12 Months Ended
		Apr. 30, 2021	Apr. 30, 2020	Apr. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate		0.08%	1.24%	2.21%
Expected term	[1]	6 months		6 months
Expected volatility	[2]	70.93%	63.60%	45.30%
Dividend yield	[3]	1.17%	0.00%	0.00%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term	[1]		4 months
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term	[1]		6 months
[1]	The 2 nd
[2]	We believe our expected volatility increased in fiscal 2020 primarily due to market and stock price fluctuations as a result of the COVID-19 pandemic.
[3]	We did not pay dividends in fiscal 2020 and 2019.

Employer Sponsored Benefit Pl_2

Employer Sponsored Benefit Plans - Additional Information (Detail) $ in Millions	12 Months Ended
	Apr. 30, 2021USD ($)InvestmentPlan	Apr. 30, 2020USD ($)	Apr. 30, 2019USD ($)
Contributory Defined Investment Plan
Defined Contribution Plan Disclosure [Line Items]
Number of contributory defined investment plan | InvestmentPlan	2
Defined contribution plan, employee contribution percentage	100.00%
Defined contribution plan, matching contribution percentage	6.00%
Deferred compensation plan description	We offer two contributory defined investment plans covering substantially all employees, subject to service requirements.  Employees may contribute up to 100% of their annual pay, depending on the plan. We generally make discretionary matching contributions of up to 50% of the first 6% of employee contributions to the plan.
Employer contribution to defined benefit plan	$ 2.9	$ 2.3	$ 2.5
Contributory Defined Investment Plan | Maximum
Defined Contribution Plan Disclosure [Line Items]
Defined contribution plan, matching contribution percentage of match	50.00%
Non-Contributory Profit Sharing Plan
Defined Contribution Plan Disclosure [Line Items]
Defined contribution plan service period	1 year
Employer contribution to defined benefit plan		$ 2.2	$ 2.6
Defined contribution plan expected contribution	$ 14.4

Income Taxes - Income Tax Expen

Income Taxes - Income Tax Expense/(Benefit) from Continuing Operations (Detail) - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2021	Apr. 30, 2020	Apr. 30, 2019
Current:
Federal	$ 64,417	$ 9,877	$ 5,567
State	9,530	1,841	1,918
Total current	73,947	11,718	7,485
Deferred:
Deferred federal	358	(164)	1,665
Deferred state	89	(32)	134
Total deferred	447	(196)	1,799
Total income tax expense/(benefit)	$ 74,394	$ 11,522	$ 9,284

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of Provision for Income Taxes from Continuing Operations (Detail) - USD ($) $ in Thousands		12 Months Ended
		Apr. 30, 2021	Apr. 30, 2020	Apr. 30, 2019
Income Tax Disclosure [Abstract]
Federal income taxes expected at the statutory rate	[1]	$ 66,773	$ 8,233	$ 7,183
State income taxes, less federal income tax benefit		7,685	1,628	1,737
Stock compensation		(578)	1,077	646
Business meals and entertainment		115	257	144
Research and development tax credit		(297)	(496)	(460)
Non-deductible Separation expenses		195	688
Other		501	135	105
Federal tax rate change on deferred taxes				(71)
Total income tax expense/(benefit)		$ 74,394	$ 11,522	$ 9,284
[1]	We had a statutory rate of 21% in fiscal 2021, 2020 and 2019.

Income Taxes - Reconciliation_2

Income Taxes - Reconciliation of Provision for Income Taxes from Continuing Operations (Parenthetical) (Detail)	12 Months Ended
	Apr. 30, 2021	Apr. 30, 2020	Apr. 30, 2019
Income Tax Disclosure [Abstract]
Federal income taxes, expected statutory rate	21.00%	21.00%	21.00%

Income Taxes - Deferred Tax Ass

Income Taxes - Deferred Tax Assets (Liabilities) Related to Temporary Differences (Detail) - USD ($)	Apr. 30, 2021	Apr. 30, 2020
Deferred tax assets (liabilities):
Less valuation allowance	$ (79,000)
Net deferred tax asset/(liability) — total	(904,000)	$ (457,000)
Non Current
Deferred tax assets (liabilities):
Net operating loss carryforwards and tax credits	3,189,000	3,158,000
Inventories	4,508,000	6,082,000
Accrued expenses, including compensation	4,952,000	4,063,000
Product liability	263,000	434,000
Accrued promotions	139,000	69,000
Workers' compensation	497,000	486,000
Warranty reserve	1,303,000	987,000
Stock-based compensation	1,517,000	2,319,000
State bonus depreciation	888,000	1,287,000
Property taxes	(250,000)	(254,000)
Property, plant, and equipment	(13,994,000)	(15,889,000)
Intangible assets	(914,000)	(633,000)
Right-of-use assets	(1,091,000)	(1,685,000)
Right-of-use liabilities	1,131,000	1,734,000
Pension	293,000	241,000
Other	(38,000)	331,000
Less valuation allowance	$ (3,297,000)	$ (3,187,000)

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	12 Months Ended
	Apr. 30, 2021	Apr. 30, 2020
Income Tax Contingency [Line Items]
Additional valuation allowance deferred income tax assets	$ 79,000
Effective income tax rate, provisions (benefit)	23.40%	29.40%
Gross tax-effected unrecognized tax benefits	$ 0	$ 0
Federal
Income Tax Contingency [Line Items]
Net operating loss carryforwards	0
State
Income Tax Contingency [Line Items]
Net operating loss carryforwards	17,700,000	17,700,000
Tax credit carryforwards	2,900,000	2,900,000
Valuation allowances for net operating loss carryforward	904,000	904,000
Valuation allowances for tax credits	$ 2,300,000	$ 2,300,000
State | Minimum
Income Tax Contingency [Line Items]
Operating loss carry forwards expiration dates	Apr. 30, 2027
State tax credit carryforwards expire date	Apr. 30, 2023
State | Maximum
Income Tax Contingency [Line Items]
Operating loss carry forwards expiration dates	Apr. 30, 2040
State tax credit carryforwards expire date	Apr. 30, 2025

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) $ in Millions	1 Months Ended	12 Months Ended
	Jan. 31, 2018USD ($)	Apr. 30, 2021USD ($)CaseClaimPlaintiff	Apr. 30, 2021CAD ($)CaseClaimPlaintiff	Apr. 30, 2020USD ($)	Apr. 30, 2019USD ($)
Schedule Of Commitments And Contingencies [Line Items]
Number of Product liability cases | Case		4	4
Number of Other product liability claims | Claim		1	1
Defense and administrative costs		$ 606,000		$ 584,000	$ 322,000
Settlement fees related to product liability cases		65,000		3,000	180,000
Expense related to changes in product liability and municipal litigation liability		388,000		892,000	$ 293,000
Environmental reserve in non-current liabilities		0		$ 0
Minimum
Schedule Of Commitments And Contingencies [Line Items]
Compensatory damages sought		75,000
Maximum
Schedule Of Commitments And Contingencies [Line Items]
Compensatory damages sought		$ 50,000,000
Putative Class
Schedule Of Commitments And Contingencies [Line Items]
Date of actions filed		December 16, 2019	December 16, 2019
Number of plaintiffs | Plaintiff		2	2
Putative Class | General Damages
Schedule Of Commitments And Contingencies [Line Items]
Aggregate damages claims			$ 50
Putative Class | Compensatory or Punitive Damages
Schedule Of Commitments And Contingencies [Line Items]
Aggregate damages claims			$ 100
John Pidcock
Schedule Of Commitments And Contingencies [Line Items]
Number of plaintiffs | Plaintiff		2	2
John Pidcock | Preferential Transfers
Schedule Of Commitments And Contingencies [Line Items]
Compensatory damages sought		$ 4,200,000
John Pidcock | Turnover of Goods
Schedule Of Commitments And Contingencies [Line Items]
Compensatory damages sought		$ 1,500,000
Gemini Technologies, Incorporated | Smith & Wesson Corp
Schedule Of Commitments And Contingencies [Line Items]
Compensatory damages sought	$ 18,600,000

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Apr. 30, 2021	Jun. 15, 2021
Subsequent Event [Line Items]
Dividends payable, date declared	Jun. 15, 2021
Dividends payable, amount per share	$ 0.08
Dividends payable, nature	regular quarterly dividend
Dividends payable, date of record	Jul. 1, 2021
Dividends payable, date to be paid	Jul. 6, 2021
Common Stock | Maximum | Valid Through August 15, 2022 | Subsequent Event
Subsequent Event [Line Items]
Stock repurchase authorization		$ 50