Daktronics (DAKT) 10-Q 13 Dec 22 2023 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Oct. 29, 2022	Dec. 07, 2022
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Oct. 29, 2022
Document Transition Report	false
Entity File Number	0-23246
Entity Incorporation, State or Country Code	SD
Entity Tax Identification Number	46-0306862
Entity Address, Address Line One	201 Daktronics Drive
Entity Address, City or Town	Brookings
Entity Address, State or Province	SD
Entity Address, Postal Zip Code	57006
City Area Code	605
Local Phone Number	692-0200
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		45,465,728
Entity Central Index Key	0000915779
Entity Registrant Name	DAKTRONICS INC
Amendment Flag	false
Current Fiscal Year End Date	--04-29
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2023
Common Stock
Document Information [Line Items]
Title of 12(b) Security	Common Stock, No Par Value
Trading Symbol	DAKT
Security Exchange Name	NASDAQ
Preferred Stock
Document Information [Line Items]
Title of 12(b) Security	Preferred Stock Purchase Rights
Trading Symbol	DAKT
Security Exchange Name	NASDAQ

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Oct. 29, 2022	Apr. 30, 2022
CURRENT ASSETS:
Cash and cash equivalents	$ 6,431	$ 17,143
Restricted cash	712	865
Marketable securities	525	4,020
Accounts receivable, net	114,720	101,099
Inventories	167,892	134,392
Contract assets	39,330	41,687
Current maturities of long-term receivables	1,744	2,798
Prepaid expenses and other current assets	11,063	14,963
Income tax receivables	3,215	603
Total current assets	345,632	317,570
Property and equipment, net	74,271	66,765
Long-term receivables, less current maturities	734	1,490
Goodwill	7,637	7,927
Intangibles, net	1,253	1,472
Investment in affiliates and other assets	34,341	32,321
Deferred income taxes	0	13,331
TOTAL ASSETS	463,868	440,876
CURRENT LIABILITIES:
Accounts payable	86,705	76,313
Contract liabilities	90,403	90,393
Accrued expenses	38,169	34,959
Warranty obligations	11,320	11,621
Income taxes payable	455	408
Total current liabilities	227,052	213,694
Long-term warranty obligations	18,434	17,257
Long-term contract liabilities	12,303	10,998
Other long-term obligations	7,131	7,076
Line of Credit	26,418	0
Deferred income taxes	0	287
Total long-term liabilities	64,286	35,618
SHAREHOLDERS' EQUITY:
Preferred Shares, no par value, authorized 50,000 shares; no shares issued and outstanding	0	0
Common Stock, no par value, authorized 115,000,000 shares; 47,158,442 and 46,733,544 shares issued at October 29, 2022 and April 30, 2022, respectively	62,388	61,794
Additional paid-in capital	49,217	48,372
Retained earnings	78,298	96,608
Treasury Stock, at cost, 1,907,445 shares at October 29, 2022 and April 30, 2022, respectively	(10,285)	(10,285)
Accumulated other comprehensive loss	(7,088)	(4,925)
TOTAL SHAREHOLDERS' EQUITY	172,530	191,564
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 463,868	$ 440,876

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parentheticals) - shares	Oct. 29, 2022	Apr. 30, 2022
Statement of Financial Position [Abstract]
Preferred stock, shares authorized (in shares)	50,000	50,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, shares authorized (in shares)	115,000,000	115,000,000
Common stock, shares, issued (in shares)	47,158,442	46,733,544
Treasury stock, shares (in shares)	1,907,445	1,907,445

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 29, 2022	Oct. 30, 2021	Oct. 29, 2022	Oct. 30, 2021
Income Statement [Abstract]
Net sales	$ 187,439	$ 164,477	$ 359,359	$ 309,209
Cost of sales	155,735	132,213	301,861	244,757
Gross profit	31,704	32,264	57,498	64,452
Operating expenses:
Selling	14,525	12,482	28,958	24,277
General and administrative	8,687	8,201	18,128	15,772
Product design and development	6,966	7,196	14,405	14,358
Operating expenses	30,178	27,879	61,491	54,407
Operating income (loss)	1,526	4,385	(3,993)	10,045
Nonoperating (expense) income:
Interest (expense) income, net	(263)	(59)	(323)	78
Other expense, net	(208)	(952)	(955)	(1,820)
Income (loss) before income taxes	1,055	3,374	(5,271)	8,303
Income tax expense	14,039	1,000	13,039	2,244
Net (loss) income	$ (12,984)	$ 2,374	$ (18,310)	$ 6,059
Weighted average shares outstanding:
Basic (in shares)	45,317	45,350	45,258	45,271
Diluted (in shares)	45,317	45,499	45,258	45,490
Earnings (loss) per share:
Basic (in usd per share)	$ (0.29)	$ 0.05	$ (0.40)	$ 0.13
Diluted (in usd per share)	$ (0.29)	$ 0.05	$ (0.40)	$ 0.13

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive (Loss) Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 29, 2022	Oct. 30, 2021	Oct. 29, 2022	Oct. 30, 2021
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (12,984)	$ 2,374	$ (18,310)	$ 6,059
Other comprehensive (loss):
Cumulative translation adjustments	(1,521)	(50)	(2,163)	(423)
Unrealized gain (loss) on available-for-sale securities, net of tax	(1)	0	0	0
Total other comprehensive (loss), net of tax	(1,522)	(50)	(2,163)	(423)
Comprehensive (loss) income	$ (14,506)	$ 2,324	$ (20,473)	$ 5,636

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Retained Earnings	Treasury Stock	Accumulated Other Comprehensive Loss
Balance beginning at May. 01, 2021	$ 193,554	$ 60,575	$ 46,595	$ 96,016	$ (7,297)	$ (2,335)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	3,685			3,685
Cumulative translation adjustments	(373)					(373)
Share-based compensation	518		518
Employee savings plan activity	597	597
Treasury stock reissued	200		4		196
Balance ending at Jul. 31, 2021	198,181	61,172	47,117	99,701	(7,101)	(2,708)
Balance beginning at May. 01, 2021	193,554	60,575	46,595	96,016	(7,297)	(2,335)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	6,059
Cumulative translation adjustments	(423)
Unrealized gain (loss) on available-for-sale securities, net of tax	0
Balance ending at Oct. 30, 2021	200,803	61,175	47,412	102,075	(7,101)	(2,758)
Balance beginning at Jul. 31, 2021	198,181	61,172	47,117	99,701	(7,101)	(2,708)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	2,374			2,374
Cumulative translation adjustments	(50)					(50)
Unrealized gain (loss) on available-for-sale securities, net of tax	0
Share-based compensation	494		494
Exercise of stock options	3	3
Tax payments related to RSU issuances	(199)		(199)
Balance ending at Oct. 30, 2021	200,803	61,175	47,412	102,075	(7,101)	(2,758)
Balance beginning at Apr. 30, 2022	191,564	61,794	48,372	96,608	(10,285)	(4,925)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	(5,326)			(5,326)
Cumulative translation adjustments	(642)					(642)
Unrealized gain (loss) on available-for-sale securities, net of tax	1					1
Share-based compensation	511		511
Employee savings plan activity	594	594
Balance ending at Jul. 30, 2022	186,702	62,388	48,883	91,282	(10,285)	(5,566)
Balance beginning at Apr. 30, 2022	191,564	61,794	48,372	96,608	(10,285)	(4,925)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	(18,310)
Cumulative translation adjustments	(2,163)
Unrealized gain (loss) on available-for-sale securities, net of tax	0
Balance ending at Oct. 29, 2022	172,530	62,388	49,217	78,298	(10,285)	(7,088)
Balance beginning at Jul. 30, 2022	186,702	62,388	48,883	91,282	(10,285)	(5,566)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	(12,984)			(12,984)
Cumulative translation adjustments	(1,521)					(1,521)
Unrealized gain (loss) on available-for-sale securities, net of tax	(1)					(1)
Share-based compensation	474		474
Tax payments related to RSU issuances	(140)		(140)
Balance ending at Oct. 29, 2022	$ 172,530	$ 62,388	$ 49,217	$ 78,298	$ (10,285)	$ (7,088)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Oct. 29, 2022	Oct. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:
Net (loss) income	$ (18,310)	$ 6,059
Adjustments to reconcile net (loss) income to net cash used in operating activities:
Depreciation and amortization	8,225	7,789
Gain on sale of property, equipment and other assets	(412)	(676)
Share-based compensation	985	1,012
Equity in loss of affiliates	1,701	1,565
Provision for doubtful accounts, net of recovery	573	(588)
Deferred income taxes, net	13,037	(41)
Change in operating assets and liabilities	(27,737)	(23,654)
Net cash (used in) operating activities	(21,938)	(8,534)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment	(16,237)	(4,507)
Proceeds from sales of property, equipment and other assets	432	760
Proceeds from sales or maturities of marketable securities	3,495	0
Purchases of equity and loans to equity investees	(2,882)	(6,129)
Net cash (used in) investing activities	(15,192)	(9,876)
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings on notes payable	190,608	0
Payments on notes payable	(164,190)	0
Principal payments on long-term obligations	0	(200)
Proceed from exercise of stock options	0	3
Tax payments related to RSU issuances	(140)	(199)
Net cash provided by (used in) financing activities	26,278	(396)
EFFECT OF EXCHANGE RATE CHANGES ON CASH	(13)	8
NET DECREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	(10,865)	(18,798)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH:
Beginning of period	18,008	80,402
End of period	7,143	61,604
Cash paid for:
Interest	337	0
Income taxes, net of refunds	2,471	1,270
Supplemental schedule of non-cash investing and financing activities:
Demonstration equipment transferred to inventory	0	53
Purchases of property and equipment included in accounts payable	4,093	1,283
Contributions of common stock under the ESPP	$ 594	$ 597

Basis of Presentation

Basis of Presentation	6 Months Ended
	Oct. 29, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation Daktronics, Inc. and its subsidiaries (the “Company”, “Daktronics”, “we”, “our”, or “us”) are an industry leader in designing and manufacturing electronic scoreboards, programmable display systems and large screen video displays for sporting, commercial and transportation applications. In the opinion of management, the accompanying unaudited condensed consolidated financial statements contain all adjustments (consisting of normal recurring adjustments) necessary to fairly present our financial position, results of operations and cash flows for the periods presented. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires management to make estimates and assumptions affecting the reported amounts therein. Due to the inherent uncertainty involved in making estimates, actual results in future periods may differ from those estimates. Certain information and disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted. The balance sheet at April 30, 2022 has been derived from the audited financial statements at that date, but it does not include all the information and disclosures required by GAAP for complete financial statements. These financial statements should be read in conjunction with our financial statements and notes thereto for the fiscal year ended April 30, 2022, which are contained in our Annual Report on Form 10-K previously filed with the Securities and Exchange Commission ("SEC"). The results of operations for the interim periods presented are not necessarily indicative of results that may be expected for any other interim period or for the full fiscal year. Daktronics, Inc. operates on a 52- or 53-week fiscal year, with our fiscal year ending on the Saturday closest to April 30 of each year. When April 30 falls on a Wednesday, the fiscal year ends on the preceding Saturday. Within each fiscal year, each quarter is comprised of 13-week periods following the beginning of each fiscal year. In each 53-week fiscal year, an additional week is added to the first quarter, and each of the last three quarters is comprised of a 13-week period. The six months ended October 29, 2022 and October 30, 2021 contained operating results for 26 weeks. Cash and cash equivalents and restricted cash The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the condensed consolidated balance sheets that sum to the totals of the same amounts shown in the condensed consolidated statements of cash flows. Restricted cash consists of cash and cash equivalents held in bank deposit accounts to secure issuances of foreign bank guarantees. October 29, October 30, Cash and cash equivalents $ 6,431 $ 59,727 Restricted cash 712 1,877 Total cash, cash equivalents, and restricted cash shown in the condensed consolidated statements of cash flows $ 7,143 $ 61,604 Liquidity and Going Concern The accompanying condensed consolidated financial statements are prepared in accordance with generally accepted accounting principles applicable to a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. We continue to experience volatility in our business driven by global economic conditions and supply chain disruptions. All of these conditions have caused volatility in our cash flow, pricing, order volumes, lead-times, competitiveness, revenue cycles, and production costs. We believe it is likely these conditions will continue to have negative impacts in fiscal 2023. To improve operations and cash flows, we have increased prices of our goods and services. We have also increased investment in inventory levels to add production stability. To adapt, we used cash and line of credit borrowings to source inventory to add stability to our production processes to fulfill backlog. We also continue to invest in property and equipment to expand our capacity and add automation. Our ability to fund inventory levels, operations and capital expenditures in the future will be dependent on our ability to generate cash flow from operations in these conditions, to maintain or improve margins, and to use funds from our credit facility. Our credit facility expires in April 2025, and it requires us to comply with certain covenants. Although supply chain disruptions have started to ease and we expect our inventory levels to decline, we cannot be certain we will not experience future disruptions or need additional liquidity to fund inventory levels, operations, and capital expenditures. We will need additional liquidity to meet our obligations as they come due in the 12 months following the date of this Report and we cannot be assured that such liquidity will be available or the form of such liquidity, such as equity raises or debt financing. These conditions raise substantial doubt about our ability to continue as a going concern. In response to these conditions, we are pursuing additional liquidity through various means, including but not limited to obtaining financing secured by a mortgage on our facilities, a sales-leaseback transaction, leasing property and equipment, and continued focus on reducing working capital. Since these plans are not finalized and are subject to market conditions and restrictions from our existing financing agreements that are not within our control, they cannot be deemed probable. As a result, we have concluded that our plans do not alleviate substantial doubt about our ability to continue as a going concern. Refer to Note 7 for additional considerations related to our financing agreements. The condensed consolidated financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might result from the outcome of this uncertainty. Recent Accounting Pronouncements There have been no material changes to our significant accounting policies and estimates as described in our Annual Report on Form 10-K for the fiscal year ended April 30, 2022. Accounting Standards Adopted There were no standards adopted since the last quarterly report. Accounting Standards Not Yet Adopted

Investments in Affiliates

Investments in Affiliates	6 Months Ended
	Oct. 29, 2022
Investments in and Advances to Affiliates, Schedule of Investments [Abstract]
Investments in Affiliates	Investments in AffiliatesThe aggregate amount of our investments accounted for under the equity method was $18,040 and $16,916 as of October 29, 2022 and April 30, 2022, respectively. Our proportional share of the respective affiliates' earnings or losses is included in the "Other expense, net" line item in our condensed consolidated statements of operations. For the three and six months ended October 29, 2022, our share of the losses of our affiliates was $811 and $1,701 as compared to $819 and $1,565 for the three and six months ended October 30, 2021. We purchased services for research and development activities from our equity method investees. The total of these related party transactions for the six months ended October 29, 2022 and October 30, 2021 was $672 and $898, respectively, which is included in the "Product design and development" line item in our condensed consolidated statements of operations, and for the six months ended October 29, 2022, $52 remains unpaid and is included in the "Accounts payable" line item in our condensed consolidated balance sheets. During the six months ended October 29, 2022, we invested $2,882 of convertible notes ("Notes"), which are included in the "Investment in affiliates and other assets" line item in our condensed consolidated balance sheets. During the six months ended October 29, 2022, we converted $2,824 from Notes to stock ownership.

Earnings Per Share ("EPS")

Earnings Per Share ("EPS")	6 Months Ended
	Oct. 29, 2022
Earnings Per Share [Abstract]
Earnings Per Share ("EPS")	Earnings Per Share ("EPS") The following is a reconciliation of the net (loss) income and common share amounts used in the calculation of basic and diluted EPS for the three and six months ended October 29, 2022 and October 30, 2021: Net (loss) income Shares Per share (loss) income For the three months ended October 29, 2022 Basic and diluted (loss) earnings per share $ (12,984) 45,317 $ (0.29) Diluted (loss) earnings per share $ (12,984) 45,317 $ (0.29) For the three months ended October 30, 2021 Basic earnings per share $ 2,374 45,350 $ 0.05 Dilution associated with stock compensation plans — 149 — Diluted earnings per share $ 2,374 45,499 $ 0.05 For the six months ended October 29, 2022 Basic and diluted (loss) earnings per share $ (18,310) 45,258 $ (0.40) Diluted (loss) earnings per share $ (18,310) 45,258 $ (0.40) For the six months ended October 30, 2021 Basic earnings per share $ 6,059 45,271 $ 0.13 Dilution associated with stock compensation plans — 219 — Diluted earnings per share $ 6,059 45,490 $ 0.13 Options outstanding to purchase 2,063 shares of common stock with a weighted average exercise price of $7.51 for the three months ended October 29, 2022 and 1,943 shares of common stock with a weighted average exercise price of $9.22 for the three months ended October 30, 2021 were not included in the computation of diluted earnings per share because the effects would be anti-dilutive.

Revenue Recognition

Revenue Recognition	6 Months Ended
	Oct. 29, 2022
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition Disaggregation of revenue The following table presents our disaggregation of revenue by segments: Three Months Ended October 29, 2022 Commercial Live Events High School Park and Recreation Transportation International Total Type of performance obligation Unique configuration $ 5,582 $ 52,862 $ 7,856 $ 11,398 $ 6,123 $ 83,821 Limited configuration 26,768 9,675 32,975 4,542 14,285 88,245 Service and other 4,697 6,702 1,175 739 2,060 15,373 $ 37,047 $ 69,239 $ 42,006 $ 16,679 $ 22,468 $ 187,439 Timing of revenue recognition Goods/services transferred at a point in time $ 28,078 $ 11,682 $ 31,129 $ 4,749 $ 15,019 $ 90,657 Goods/services transferred over time 8,969 57,557 10,877 11,930 7,449 96,782 $ 37,047 $ 69,239 $ 42,006 $ 16,679 $ 22,468 $ 187,439 Six Months Ended October 29, 2022 Commercial Live Events High School Park and Recreation Transportation International Total Type of performance obligation Unique configuration $ 10,269 $ 95,030 $ 14,448 $ 23,884 $ 12,624 $ 156,255 Limited configuration 58,544 18,155 61,258 10,641 25,786 174,384 Service and other 8,352 12,437 2,109 1,694 4,128 28,720 $ 77,165 $ 125,622 $ 77,815 $ 36,219 $ 42,538 $ 359,359 Timing of revenue recognition Goods/services transferred at a point in time $ 60,635 $ 20,904 $ 58,219 $ 11,131 $ 26,895 $ 177,784 Goods/services transferred over time 16,530 104,718 19,596 25,088 15,643 181,575 $ 77,165 $ 125,622 $ 77,815 $ 36,219 $ 42,538 $ 359,359 Three Months Ended October 30, 2021 Commercial Live Events High School Park and Recreation Transportation International Total Type of performance obligation Unique configuration $ 4,559 $ 43,528 $ 6,908 $ 8,976 $ 11,562 $ 75,533 Limited configuration 25,977 8,825 24,916 4,552 10,466 74,736 Service and other 3,927 7,043 923 525 1,790 14,208 $ 34,463 $ 59,396 $ 32,747 $ 14,053 $ 23,818 $ 164,477 Timing of revenue recognition Goods/services transferred at a point in time $ 26,362 $ 11,508 $ 23,115 $ 4,634 $ 10,815 $ 76,434 Goods/services transferred over time 8,101 47,888 9,632 9,419 13,003 88,043 $ 34,463 $ 59,396 $ 32,747 $ 14,053 $ 23,818 $ 164,477 Six Months Ended October 30, 2021 Commercial Live Events High School Park and Recreation Transportation International Total Type of performance obligation Unique configuration $ 8,146 $ 85,036 $ 11,074 $ 15,517 $ 17,445 $ 137,218 Limited configuration 51,884 14,667 47,873 9,904 22,011 146,339 Service and other 7,214 12,080 1,694 1,190 3,474 25,652 $ 67,244 $ 111,783 $ 60,641 $ 26,611 $ 42,930 $ 309,209 Timing of revenue recognition Goods/services transferred at a point in time $ 52,741 $ 18,337 $ 45,056 $ 10,205 $ 22,834 $ 149,173 Goods/services transferred over time 14,503 93,446 15,585 16,406 20,096 160,036 $ 67,244 $ 111,783 $ 60,641 $ 26,611 $ 42,930 $ 309,209 See "Note 5. Segment Reporting" for a disaggregation of revenue by geography. Contract balances Contract assets represent revenue recognized in excess of amounts billed and include unbilled receivables. Unbilled receivables, which represent an unconditional right to payment subject only to the passage of time, are reclassified to accounts receivable when they are billed according to the contract terms. Contract liabilities represent amounts billed to the customers in excess of revenue recognized to date. The following table reflects the changes in our contract assets and liabilities: October 29, April 30, Dollar Percent Contract assets $ 39,330 $ 41,687 $ (2,357) (5.7) % Contract liabilities - current 90,403 90,393 10 — Contract liabilities - noncurrent 12,303 10,998 1,305 11.9 The changes in our contract assets and contract liabilities from April 30, 2022 to October 29, 2022 were due to the timing of billing schedules and revenue recognition, which can vary significantly depending on the contractual payment terms and the seasonality of the sports markets. We had no impairments of contract assets for the six months ended October 29, 2022. For service-type warranty contracts, we allocate revenue to this performance obligation, recognize the revenue over time, and recognize costs as incurred. Earned and unearned revenues for these contracts are included in the "Contract assets" and "Contract liabilities". Changes in unearned service-type warranty contracts, net were as follows: October 29, Balance at beginning of period $ 26,346 New contracts sold 25,860 Less: reductions for revenue recognized (21,381) Foreign currency translation and other (270) Balance at end of period $ 30,555 Contracts in progress identified as loss contracts as of October 29, 2022 were $482 and as of April 30, 2022 were immaterial. Loss provisions are recorded in the "Accrued expenses" line item in our condensed consolidated balance sheets. During the six months ended October 29, 2022, we recognized revenue of $65,533 related to our contract liabilities as of April 30, 2022. Remaining performance obligations As of October 29, 2022, the aggregate amount of the transaction price allocated to the remaining performance obligations was $524,251. Remaining performance obligations related to product and service agreements at October 29, 2022 were $463,084 and $61,167, respectively. We expect approximately $467,498 of our remaining performance obligations to be recognized over the next 12 months, with the remainder recognized thereafter. Although remaining performance obligations reflect business that is considered to be legally binding, cancellations, deferrals or scope adjustments may occur. Any known project cancellations, revisions to project scope and cost, foreign currency exchange fluctuations, and project deferrals are reflected or excluded in the remaining performance obligation balance, as appropriate.

Segment Reporting

Segment Reporting	6 Months Ended
	Oct. 29, 2022
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting The following table sets forth certain financial information for each of our five reporting segments for the periods indicated: Three Months Ended Six Months Ended October 29, October 30, October 29, October 30, Net sales: Commercial $ 37,047 $ 34,463 $ 77,165 $ 67,244 Live Events 69,239 59,396 125,622 111,783 High School Park and Recreation 42,006 32,747 77,815 60,641 Transportation 16,679 14,053 36,219 26,611 International 22,468 23,818 42,538 42,930 187,439 164,477 359,359 309,209 Gross profit: Commercial 6,197 7,445 11,018 14,623 Live Events 7,983 5,585 11,769 14,167 High School Park and Recreation 11,811 10,749 21,788 20,258 Transportation 4,084 4,404 9,922 8,155 International 1,629 4,081 3,001 7,249 31,704 32,264 57,498 64,452 Operating expenses: Selling 14,525 12,482 28,958 24,277 General and administrative 8,687 8,201 18,128 15,772 Product design and development 6,966 7,196 14,405 14,358 30,178 27,879 61,491 54,407 Operating income (loss) 1,526 4,385 (3,993) 10,045 Nonoperating (expense) income: Interest (expense) income, net (263) (59) (323) 78 Other expense, net (208) (952) (955) (1,820) Income (loss) before income taxes $ 1,055 $ 3,374 $ (5,271) $ 8,303 Depreciation and amortization: Commercial $ 834 $ 601 $ 1,637 $ 1,303 Live Events 1,627 1,248 3,193 2,585 High School Park and Recreation 383 340 722 778 Transportation 128 127 253 266 International 566 752 1,111 1,478 Unallocated corporate depreciation 662 669 1,309 1,379 $ 4,200 $ 3,737 $ 8,225 $ 7,789 No single geographic area comprises a material amount of our net sales or property and equipment, net of accumulated depreciation, other than the United States. The following table presents information about net sales and property and equipment, net of accumulated depreciation, in the United States and elsewhere: Three Months Ended Six Months Ended October 29, October 30, October 29, October 30, Net sales: United States $ 163,142 $ 138,821 $ 312,580 $ 262,303 Outside United States 24,297 25,656 46,779 46,906 $ 187,439 $ 164,477 $ 359,359 $ 309,209 October 29, April 30, Property and equipment, net of accumulated depreciation: United States $ 66,150 $ 58,643 Outside United States 8,121 8,122 $ 74,271 $ 66,765 We have numerous customers worldwide for sales of our products and services, and no customer accounted for 10 percent or more of net sales for the three and six months ended October 29, 2022 and October 30, 2021; therefore, we are not economically dependent on a limited number of customers for the sale of our products and services. We have numerous raw material and component suppliers, and no supplier accounts for 10 percent or more of our cost of sales; however, we have a complex global supply chain subject to geopolitical and transportation risks and a number of single-source suppliers that could limit our supply or cause delays in obtaining raw materials and components needed in manufacturing.

Goodwill

Goodwill	6 Months Ended
	Oct. 29, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	Goodwill The changes in the carrying amount of goodwill related to each reportable segment for the six months ended October 29, 2022 were as follows: Live Events Commercial Transportation International Total Balance as of April 30, 2022 $ 2,296 $ 3,349 $ 68 $ 2,214 $ 7,927 Foreign currency translation (20) (146) (20) (104) (290) Balance as of October 29, 2022 $ 2,276 $ 3,203 $ 48 $ 2,110 $ 7,637 We perform an analysis of goodwill on an annual basis and test for impairment more frequently if events or changes in circumstances indicate that an asset might be impaired. Our annual analysis is performed during our third quarter of each fiscal year based on the goodwill amount as of the first business day of our third fiscal quarter. We performed our annual impairment test on October 31, 2021 and concluded no goodwill impairment existed. Our market capitalization has decreased since the completion of the October 31, 2021 evaluation which caused a trigger analysis to test goodwill impairment due to supply chain and labor supply uncertainty. After evaluating our results, events and circumstances, we determined no goodwill impairment was necessary.

Financing Agreements

Financing Agreements	6 Months Ended
	Oct. 29, 2022
Debt Disclosure [Abstract]
Financing Agreements	Financing Agreements As of October 29, 2022, $26,418 had been advanced under the loan portion of our line of credit, and the balance of letters of credit outstanding was approximately $6,917. As of October 29, 2022, $11,665 of the credit facility was available for borrowing. On October 31, 2022, we entered into an agreement to temporarily expand the line of credit by $10,000 through January 31, 2023. As of October 29, 2022, we were in compliance with our financial covenants. On December 9, 2022, we entered into the sixth amendment to our credit agreement. The Amendment clarifies certain definitions related to the deferred tax asset valuation allowance and adds additional financial reporting requirements and negative covenants. It also requires Daktronics to obtain the current lender’s approval of any additional indebtedness and receive an audit report on our fiscal 2023 financial statements that does not express substantial doubt about the Company’s ability to continue as a going concern. As of October 29, 2022, we had $616 of bank guarantees or other financial instruments for display installations issued by another bank and secured by a restricted cash deposit. If we are unable to meet the terms of the arrangement, the bank would subrogate its loss by drawing on the secured cash deposit.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Oct. 29, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Litigation: We are a party to legal proceedings and claims which arise during the ordinary course of business. We review our legal proceedings and claims, regulatory reviews and inspections, and other legal matters on an ongoing basis and follow appropriate accounting guidance when making accrual and disclosure decisions. For unresolved legal proceedings or claims, we do not believe there is a reasonable probability that any material loss will be incurred. Accordingly, no material accrual or disclosure of a potential range of loss has been made related to these matters. We do not expect the ultimate liability of these unresolved legal proceedings or claims to have a material effect on our financial position, liquidity or capital resources. Warranties: Changes in our warranty obligation for the six months ended October 29, 2022 consisted of the following: October 29, Beginning accrued warranty obligations $ 28,878 Warranties issued during the period 5,951 Settlements made during the period (3,923) Changes in accrued warranty obligations for pre-existing warranties during the period, including expirations (1,152) Ending accrued warranty obligations $ 29,754 Performance guarantees: We have entered into standby letters of credit, bank guarantees and surety bonds with financial institutions relating to the guarantee of our future performance on contracts, primarily construction-type contracts. As of October 29, 2022, we had outstanding letters of credit, bank guarantees and surety bonds in the amount of $6,917, $616 and $72,777, respectively. Performance guarantees are issued to certain customers to guarantee the operation and installation of the equipment and our ability to complete a contract. These performance guarantees have various terms but are generally one year. We enter into written agreements with our customers, and those agreements often contain indemnification provisions that require us to make the customer whole if certain acts or omissions by us cause the customer financial loss. We make efforts to negotiate reasonable caps and limitations on the recovery of such damages. As of October 29, 2022, we were not aware of any indemnification claim from a customer.

Income Taxes

Income Taxes	6 Months Ended
	Oct. 29, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The provision for income taxes during interim reporting periods is calculated by applying an estimate of the annual effective tax rate. The computation of the annual estimated effective tax rate at each interim period requires certain estimates and assumptions including, but not limited to, the expected operating income (or loss) for the year, projections of the proportion of income (or loss) earned and taxed in foreign jurisdictions, and permanent and temporary differences and the likelihood of recovering deferred tax assets, then adjusted for any discrete items. The accounting estimates used to compute the provision for income taxes may change as new events occur, assumptions change, or additional information is obtained. Under GAAP we are required to evaluate the recoverability of our deferred tax assets and establish a valuation allowance if necessary to reduce our deferred tax assets to an amount that is more likely than not to be realized. Significant judgment is required in determining whether valuation allowances should be established, as well as the amount of such allowances. We establish or adjust valuation allowances for deferred tax assets when we estimate that it is more likely than not that we will be able to realize the value of the deferred tax assets. We evaluate all significant available positive and negative evidence as part of our analysis, including our past operating results, tax planning strategies, current and cumulative losses, and forecasts of future taxable income. The underlying assumptions we use in forecasting future taxable income requires significant judgment and takes into account our recent performance. The ultimate realization of deferred tax assets depends on the generation of future taxable income during the periods in which temporary differences are deductible or creditable. If actual experience differs from these estimates and assumptions, the recognized deferred tax asset value may not be fully realized, resulting in an increase to income tax expense in our results of operations. Due to various factors, including our estimated of annual income, our effective tax rate is subject to fluctuation. Our effective tax rate for the three and six months ended October 29, 2022 was a tax rate of 1330.7 and a tax rate of (247.3) percent, as compared to an effective tax rate of 29.6 and 27.0 percent tax for the three and six months ended October 30, 2021. The increase in tax rate is primarily driven by the requirement to record a full valuation allowance on deferred tax assets during the second quarter of fiscal 2023 related to GAAP accounting for income taxes and related information. See "Note 1. Basis of Presentation - Liquidity and Going Concern" of the Notes to our Condensed Consolidated Financial Statements included in this Report. If, in the future, we determine we can support the recoverability of all or a portion of the deferred tax assets under the guidance, the tax benefits relating to any reversal of the valuation allowance on net deferred tax assets will be accounted for as a reduction of income tax expense and result in an increase in equity. Changes in tax laws and rates may affect recorded deferred tax assets and liabilities and our effective tax rate in the future. We operate both domestically and internationally and, as of October 29, 2022, undistributed earnings of our foreign subsidiaries were considered to be reinvested indefinitely. Additionally, as of October 29, 2022, we had $593 of unrecognized tax benefits which would reduce our effective tax rate if recognized.

Fair Value Measurement

Fair Value Measurement	6 Months Ended
	Oct. 29, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurement	Fair Value Measurement The following table sets forth by Level within the fair value hierarchy our financial assets and liabilities that were accounted for at fair value on a recurring basis at October 29, 2022 and April 30, 2022 according to the valuation techniques we used to determine their fair values. There have been no transfers of assets or liabilities among the fair value hierarchies presented. Fair Value Measurements Level 1 Level 2 Level 3 Total Balance as of October 29, 2022 Cash and cash equivalents $ 6,431 $ — $ — $ 6,431 Restricted cash 712 — — 712 Available-for-sale securities: US Government securities — — — — US Government sponsored entities — 525 — 525 Derivatives - asset position — 1,175 — 1,175 $ 7,143 $ 1,700 $ — $ 8,843 Balance as of April 30, 2022 Cash and cash equivalents $ 17,143 $ — $ — $ 17,143 Restricted cash 865 — — 865 Available-for-sale securities: US Government securities 3,486 — — 3,486 US Government sponsored entities — 534 — 534 Derivatives - asset position — 934 — 934 Derivatives - liability position — (311) — (311) $ 21,494 $ 1,157 $ — $ 22,651 There have been no changes in the valuation techniques used by us to value our financial instruments since the end of fiscal 2022. For additional information, see our Annual Report on Form 10-K for the fiscal year ended April 30, 2022 for the methods and assumptions used to estimate the fair value of each class of financial instrument.

Subsequent Events

Subsequent Events	6 Months Ended
	Oct. 29, 2022
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventsOn December 9, 2022, we entered into the sixth amendment to our credit agreement as described in Note 7. T

Basis of Presentation (Policies

Basis of Presentation (Policies)	6 Months Ended
	Oct. 29, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Accounting	In the opinion of management, the accompanying unaudited condensed consolidated financial statements contain all adjustments (consisting of normal recurring adjustments) necessary to fairly present our financial position, results of operations and cash flows for the periods presented. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires management to make estimates and assumptions affecting the reported amounts therein. Due to the inherent uncertainty involved in making estimates, actual results in future periods may differ from those estimates.
Recent Accounting Pronouncements	Recent Accounting Pronouncements There have been no material changes to our significant accounting policies and estimates as described in our Annual Report on Form 10-K for the fiscal year ended April 30, 2022. Accounting Standards Adopted There were no standards adopted since the last quarterly report. Accounting Standards Not Yet Adopted

Basis of Presentation (Tables)

Basis of Presentation (Tables)	6 Months Ended
	Oct. 29, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Cash and Cash Equivalents	The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the condensed consolidated balance sheets that sum to the totals of the same amounts shown in the condensed consolidated statements of cash flows. Restricted cash consists of cash and cash equivalents held in bank deposit accounts to secure issuances of foreign bank guarantees. October 29, October 30, Cash and cash equivalents $ 6,431 $ 59,727 Restricted cash 712 1,877 Total cash, cash equivalents, and restricted cash shown in the condensed consolidated statements of cash flows $ 7,143 $ 61,604

Earnings Per Share ("EPS") (Tab

Earnings Per Share ("EPS") (Tables)	6 Months Ended
	Oct. 29, 2022
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following is a reconciliation of the net (loss) income and common share amounts used in the calculation of basic and diluted EPS for the three and six months ended October 29, 2022 and October 30, 2021: Net (loss) income Shares Per share (loss) income For the three months ended October 29, 2022 Basic and diluted (loss) earnings per share $ (12,984) 45,317 $ (0.29) Diluted (loss) earnings per share $ (12,984) 45,317 $ (0.29) For the three months ended October 30, 2021 Basic earnings per share $ 2,374 45,350 $ 0.05 Dilution associated with stock compensation plans — 149 — Diluted earnings per share $ 2,374 45,499 $ 0.05 For the six months ended October 29, 2022 Basic and diluted (loss) earnings per share $ (18,310) 45,258 $ (0.40) Diluted (loss) earnings per share $ (18,310) 45,258 $ (0.40) For the six months ended October 30, 2021 Basic earnings per share $ 6,059 45,271 $ 0.13 Dilution associated with stock compensation plans — 219 — Diluted earnings per share $ 6,059 45,490 $ 0.13

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
	Oct. 29, 2022
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following table presents our disaggregation of revenue by segments: Three Months Ended October 29, 2022 Commercial Live Events High School Park and Recreation Transportation International Total Type of performance obligation Unique configuration $ 5,582 $ 52,862 $ 7,856 $ 11,398 $ 6,123 $ 83,821 Limited configuration 26,768 9,675 32,975 4,542 14,285 88,245 Service and other 4,697 6,702 1,175 739 2,060 15,373 $ 37,047 $ 69,239 $ 42,006 $ 16,679 $ 22,468 $ 187,439 Timing of revenue recognition Goods/services transferred at a point in time $ 28,078 $ 11,682 $ 31,129 $ 4,749 $ 15,019 $ 90,657 Goods/services transferred over time 8,969 57,557 10,877 11,930 7,449 96,782 $ 37,047 $ 69,239 $ 42,006 $ 16,679 $ 22,468 $ 187,439 Six Months Ended October 29, 2022 Commercial Live Events High School Park and Recreation Transportation International Total Type of performance obligation Unique configuration $ 10,269 $ 95,030 $ 14,448 $ 23,884 $ 12,624 $ 156,255 Limited configuration 58,544 18,155 61,258 10,641 25,786 174,384 Service and other 8,352 12,437 2,109 1,694 4,128 28,720 $ 77,165 $ 125,622 $ 77,815 $ 36,219 $ 42,538 $ 359,359 Timing of revenue recognition Goods/services transferred at a point in time $ 60,635 $ 20,904 $ 58,219 $ 11,131 $ 26,895 $ 177,784 Goods/services transferred over time 16,530 104,718 19,596 25,088 15,643 181,575 $ 77,165 $ 125,622 $ 77,815 $ 36,219 $ 42,538 $ 359,359 Three Months Ended October 30, 2021 Commercial Live Events High School Park and Recreation Transportation International Total Type of performance obligation Unique configuration $ 4,559 $ 43,528 $ 6,908 $ 8,976 $ 11,562 $ 75,533 Limited configuration 25,977 8,825 24,916 4,552 10,466 74,736 Service and other 3,927 7,043 923 525 1,790 14,208 $ 34,463 $ 59,396 $ 32,747 $ 14,053 $ 23,818 $ 164,477 Timing of revenue recognition Goods/services transferred at a point in time $ 26,362 $ 11,508 $ 23,115 $ 4,634 $ 10,815 $ 76,434 Goods/services transferred over time 8,101 47,888 9,632 9,419 13,003 88,043 $ 34,463 $ 59,396 $ 32,747 $ 14,053 $ 23,818 $ 164,477 Six Months Ended October 30, 2021 Commercial Live Events High School Park and Recreation Transportation International Total Type of performance obligation Unique configuration $ 8,146 $ 85,036 $ 11,074 $ 15,517 $ 17,445 $ 137,218 Limited configuration 51,884 14,667 47,873 9,904 22,011 146,339 Service and other 7,214 12,080 1,694 1,190 3,474 25,652 $ 67,244 $ 111,783 $ 60,641 $ 26,611 $ 42,930 $ 309,209 Timing of revenue recognition Goods/services transferred at a point in time $ 52,741 $ 18,337 $ 45,056 $ 10,205 $ 22,834 $ 149,173 Goods/services transferred over time 14,503 93,446 15,585 16,406 20,096 160,036 $ 67,244 $ 111,783 $ 60,641 $ 26,611 $ 42,930 $ 309,209
Contract with Customer, Contract Asset, Contract Liability, and Receivable	The following table reflects the changes in our contract assets and liabilities: October 29, April 30, Dollar Percent Contract assets $ 39,330 $ 41,687 $ (2,357) (5.7) % Contract liabilities - current 90,403 90,393 10 — Contract liabilities - noncurrent 12,303 10,998 1,305 11.9 The changes in our contract assets and contract liabilities from April 30, 2022 to October 29, 2022 were due to the timing of billing schedules and revenue recognition, which can vary significantly depending on the contractual payment terms and the seasonality of the sports markets. We had no impairments of contract assets for the six months ended October 29, 2022. For service-type warranty contracts, we allocate revenue to this performance obligation, recognize the revenue over time, and recognize costs as incurred. Earned and unearned revenues for these contracts are included in the "Contract assets" and "Contract liabilities". Changes in unearned service-type warranty contracts, net were as follows: October 29, Balance at beginning of period $ 26,346 New contracts sold 25,860 Less: reductions for revenue recognized (21,381) Foreign currency translation and other (270) Balance at end of period $ 30,555

Segment Reporting (Tables)

Segment Reporting (Tables)	6 Months Ended
	Oct. 29, 2022
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, By Segment	The following table sets forth certain financial information for each of our five reporting segments for the periods indicated: Three Months Ended Six Months Ended October 29, October 30, October 29, October 30, Net sales: Commercial $ 37,047 $ 34,463 $ 77,165 $ 67,244 Live Events 69,239 59,396 125,622 111,783 High School Park and Recreation 42,006 32,747 77,815 60,641 Transportation 16,679 14,053 36,219 26,611 International 22,468 23,818 42,538 42,930 187,439 164,477 359,359 309,209 Gross profit: Commercial 6,197 7,445 11,018 14,623 Live Events 7,983 5,585 11,769 14,167 High School Park and Recreation 11,811 10,749 21,788 20,258 Transportation 4,084 4,404 9,922 8,155 International 1,629 4,081 3,001 7,249 31,704 32,264 57,498 64,452 Operating expenses: Selling 14,525 12,482 28,958 24,277 General and administrative 8,687 8,201 18,128 15,772 Product design and development 6,966 7,196 14,405 14,358 30,178 27,879 61,491 54,407 Operating income (loss) 1,526 4,385 (3,993) 10,045 Nonoperating (expense) income: Interest (expense) income, net (263) (59) (323) 78 Other expense, net (208) (952) (955) (1,820) Income (loss) before income taxes $ 1,055 $ 3,374 $ (5,271) $ 8,303 Depreciation and amortization: Commercial $ 834 $ 601 $ 1,637 $ 1,303 Live Events 1,627 1,248 3,193 2,585 High School Park and Recreation 383 340 722 778 Transportation 128 127 253 266 International 566 752 1,111 1,478 Unallocated corporate depreciation 662 669 1,309 1,379 $ 4,200 $ 3,737 $ 8,225 $ 7,789
Schedule of Revenue From External Customers and Long-lived Assets, By Geographical Areas	The following table presents information about net sales and property and equipment, net of accumulated depreciation, in the United States and elsewhere: Three Months Ended Six Months Ended October 29, October 30, October 29, October 30, Net sales: United States $ 163,142 $ 138,821 $ 312,580 $ 262,303 Outside United States 24,297 25,656 46,779 46,906 $ 187,439 $ 164,477 $ 359,359 $ 309,209 October 29, April 30, Property and equipment, net of accumulated depreciation: United States $ 66,150 $ 58,643 Outside United States 8,121 8,122 $ 74,271 $ 66,765

Goodwill (Tables)

Goodwill (Tables)	6 Months Ended
	Oct. 29, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The changes in the carrying amount of goodwill related to each reportable segment for the six months ended October 29, 2022 were as follows: Live Events Commercial Transportation International Total Balance as of April 30, 2022 $ 2,296 $ 3,349 $ 68 $ 2,214 $ 7,927 Foreign currency translation (20) (146) (20) (104) (290) Balance as of October 29, 2022 $ 2,276 $ 3,203 $ 48 $ 2,110 $ 7,637

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Oct. 29, 2022
Commitments and Contingencies Disclosure [Abstract]
Schedule of Product Warranty Liability	Warranties: Changes in our warranty obligation for the six months ended October 29, 2022 consisted of the following: October 29, Beginning accrued warranty obligations $ 28,878 Warranties issued during the period 5,951 Settlements made during the period (3,923) Changes in accrued warranty obligations for pre-existing warranties during the period, including expirations (1,152) Ending accrued warranty obligations $ 29,754

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	6 Months Ended
	Oct. 29, 2022
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The following table sets forth by Level within the fair value hierarchy our financial assets and liabilities that were accounted for at fair value on a recurring basis at October 29, 2022 and April 30, 2022 according to the valuation techniques we used to determine their fair values. There have been no transfers of assets or liabilities among the fair value hierarchies presented. Fair Value Measurements Level 1 Level 2 Level 3 Total Balance as of October 29, 2022 Cash and cash equivalents $ 6,431 $ — $ — $ 6,431 Restricted cash 712 — — 712 Available-for-sale securities: US Government securities — — — — US Government sponsored entities — 525 — 525 Derivatives - asset position — 1,175 — 1,175 $ 7,143 $ 1,700 $ — $ 8,843 Balance as of April 30, 2022 Cash and cash equivalents $ 17,143 $ — $ — $ 17,143 Restricted cash 865 — — 865 Available-for-sale securities: US Government securities 3,486 — — 3,486 US Government sponsored entities — 534 — 534 Derivatives - asset position — 934 — 934 Derivatives - liability position — (311) — (311) $ 21,494 $ 1,157 $ — $ 22,651

Basis of Presentation - Schedul

Basis of Presentation - Schedule of Cash and Cash Equivalents (Details) - USD ($) $ in Thousands	Oct. 29, 2022	Apr. 30, 2022	Oct. 30, 2021	May 01, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash and cash equivalents	$ 6,431	$ 17,143	$ 59,727
Restricted cash	712	865	1,877
Total cash, cash equivalents, and restricted cash shown in the condensed consolidated statements of cash flows	$ 7,143	$ 18,008	$ 61,604	$ 80,402

Investments in Affiliates (Deta

Investments in Affiliates (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 29, 2022	Oct. 30, 2021	Oct. 29, 2022	Oct. 30, 2021	Apr. 30, 2022
Schedule of Investments [Line Items]
Equity method investments	$ 18,040		$ 18,040		$ 16,916
Equity in loss of affiliate	811	$ 819	1,701	$ 1,565
Accounts payable	52		52
Debt conversion, converted instrument, amount			2,824
Long-term Receivables, Less Current Maturities
Schedule of Investments [Line Items]
Purchase of convertible notes	2,882		$ 2,882
Product Design and Development
Schedule of Investments [Line Items]
Related party transaction, amounts of transaction	$ 672	$ 898

Earnings Per Share ("EPS") - Sc

Earnings Per Share ("EPS") - Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended				6 Months Ended
	Oct. 29, 2022	Jul. 30, 2022	Oct. 30, 2021	Jul. 31, 2021	Oct. 29, 2022	Oct. 30, 2021
Net (loss) income
Basic earnings per share, net income	$ (12,984)	$ (5,326)	$ 2,374	$ 3,685	$ (18,310)	$ 6,059
Dilution associated with stock compensation plans, net income			0			0
Diluted earnings per share, net income	$ (12,984)		$ 2,374		$ (18,310)	$ 6,059
Shares
Basic earnings per share, shares (in shares)	45,317		45,350		45,258	45,271
Dilution associated with stock compensation plans, shares (in shares)			149			219
Diluted earnings per share, shares (in shares)	45,317		45,499		45,258	45,490
Per share (loss) income
Basic earnings per share, per share income (in usd per share)	$ (0.29)		$ 0.05		$ (0.40)	$ 0.13
Dilution associated with stock compensation plans (in usd per share)			0			0
Diluted earnings per share, per share income (in usd per share)	$ (0.29)		$ 0.05		$ (0.40)	$ 0.13

Earnings Per Share ("EPS") (Det

Earnings Per Share ("EPS") (Details Textual) - $ / shares	3 Months Ended		6 Months Ended
	Oct. 29, 2022	Oct. 30, 2021	Oct. 29, 2022	Oct. 30, 2021
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of earnings per share (in shares)	2,063,000	1,943,000	2,082,000	1,877,000
Antidilutive securities excluded from computation of earnings per share, weighted average exercise price (in usd per share)	$ 7.51	$ 9.22	$ 7.82	$ 9.37

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 29, 2022	Oct. 30, 2021	Oct. 29, 2022	Oct. 30, 2021
Disaggregation of Revenue [Line Items]
Net sales	$ 187,439	$ 164,477	$ 359,359	$ 309,209
Goods/services transferred at a point in time
Disaggregation of Revenue [Line Items]
Net sales	90,657	76,434	177,784	149,173
Goods/services transferred over time
Disaggregation of Revenue [Line Items]
Net sales	96,782	88,043	181,575	160,036
Unique configuration
Disaggregation of Revenue [Line Items]
Net sales	83,821	75,533	156,255	137,218
Limited configuration
Disaggregation of Revenue [Line Items]
Net sales	88,245	74,736	174,384	146,339
Service and other
Disaggregation of Revenue [Line Items]
Net sales	15,373	14,208	28,720	25,652
Commercial
Disaggregation of Revenue [Line Items]
Net sales	37,047	34,463	77,165	67,244
Commercial | Goods/services transferred at a point in time
Disaggregation of Revenue [Line Items]
Net sales	28,078	26,362	60,635	52,741
Commercial | Goods/services transferred over time
Disaggregation of Revenue [Line Items]
Net sales	8,969	8,101	16,530	14,503
Commercial | Unique configuration
Disaggregation of Revenue [Line Items]
Net sales	5,582	4,559	10,269	8,146
Commercial | Limited configuration
Disaggregation of Revenue [Line Items]
Net sales	26,768	25,977	58,544	51,884
Commercial | Service and other
Disaggregation of Revenue [Line Items]
Net sales	4,697	3,927	8,352	7,214
Live Events
Disaggregation of Revenue [Line Items]
Net sales	69,239	59,396	125,622	111,783
Live Events | Goods/services transferred at a point in time
Disaggregation of Revenue [Line Items]
Net sales	11,682	11,508	20,904	18,337
Live Events | Goods/services transferred over time
Disaggregation of Revenue [Line Items]
Net sales	57,557	47,888	104,718	93,446
Live Events | Unique configuration
Disaggregation of Revenue [Line Items]
Net sales	52,862	43,528	95,030	85,036
Live Events | Limited configuration
Disaggregation of Revenue [Line Items]
Net sales	9,675	8,825	18,155	14,667
Live Events | Service and other
Disaggregation of Revenue [Line Items]
Net sales	6,702	7,043	12,437	12,080
High School Park and Recreation
Disaggregation of Revenue [Line Items]
Net sales	42,006	32,747	77,815	60,641
High School Park and Recreation | Goods/services transferred at a point in time
Disaggregation of Revenue [Line Items]
Net sales	31,129	23,115	58,219	45,056
High School Park and Recreation | Goods/services transferred over time
Disaggregation of Revenue [Line Items]
Net sales	10,877	9,632	19,596	15,585
High School Park and Recreation | Unique configuration
Disaggregation of Revenue [Line Items]
Net sales	7,856	6,908	14,448	11,074
High School Park and Recreation | Limited configuration
Disaggregation of Revenue [Line Items]
Net sales	32,975	24,916	61,258	47,873
High School Park and Recreation | Service and other
Disaggregation of Revenue [Line Items]
Net sales	1,175	923	2,109	1,694
Transportation
Disaggregation of Revenue [Line Items]
Net sales	16,679	14,053	36,219	26,611
Transportation | Goods/services transferred at a point in time
Disaggregation of Revenue [Line Items]
Net sales	4,749	4,634	11,131	10,205
Transportation | Goods/services transferred over time
Disaggregation of Revenue [Line Items]
Net sales	11,930	9,419	25,088	16,406
Transportation | Unique configuration
Disaggregation of Revenue [Line Items]
Net sales	11,398	8,976	23,884	15,517
Transportation | Limited configuration
Disaggregation of Revenue [Line Items]
Net sales	4,542	4,552	10,641	9,904
Transportation | Service and other
Disaggregation of Revenue [Line Items]
Net sales	739	525	1,694	1,190
International
Disaggregation of Revenue [Line Items]
Net sales	22,468	23,818	42,538	42,930
International | Goods/services transferred at a point in time
Disaggregation of Revenue [Line Items]
Net sales	15,019	10,815	26,895	22,834
International | Goods/services transferred over time
Disaggregation of Revenue [Line Items]
Net sales	7,449	13,003	15,643	20,096
International | Unique configuration
Disaggregation of Revenue [Line Items]
Net sales	6,123	11,562	12,624	17,445
International | Limited configuration
Disaggregation of Revenue [Line Items]
Net sales	14,285	10,466	25,786	22,011
International | Service and other
Disaggregation of Revenue [Line Items]
Net sales	$ 2,060	$ 1,790	$ 4,128	$ 3,474

Revenue Recognition - Contract

Revenue Recognition - Contract with Customer, Contract Asset, Contract Liability, and Receivable (Details) - USD ($) $ in Thousands	6 Months Ended
	Oct. 29, 2022	Apr. 30, 2022
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contract assets	$ 39,330	$ 41,687
Contract liabilities - current	90,403	90,393
Contract liabilities - noncurrent	12,303	$ 10,998
Dollar Change
Contract assets	(2,357)
Contract liabilities - current	10
Contract liabilities - noncurrent	$ 1,305
Percent Change
Contract assets	(5.70%)
Contract liabilities - current	0%
Contract liabilities - noncurrent	11.90%
Service-type Warranty Contracts
Changes in Unearned Service-Type Warranty Contract [Roll Forward]
Balance at beginning of period	$ 26,346
New contracts sold	25,860
Less: reductions for revenue recognized	(21,381)
Foreign currency translation and other	(270)
Balance at end of period	$ 30,555

Revenue Recognition (Details Te

Revenue Recognition (Details Textual) $ in Thousands	6 Months Ended
	Oct. 29, 2022 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Identified loss contract	$ 482
Recognized revenue	65,533
Revenue, remaining performance obligation	524,251
Product
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	463,084
Service
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	61,167
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-10-30
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 467,498
Revenue, remaining performance obligation, expected timing of satisfaction, period	12 months

Segment Reporting (Details Text

Segment Reporting (Details Textual)	6 Months Ended
	Oct. 29, 2022 segment
Segment Reporting [Abstract]
Number of reportable segments	5

Segment Reporting - Schedule of

Segment Reporting - Schedule of Segment Reporting Information, By Segment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 29, 2022	Oct. 30, 2021	Oct. 29, 2022	Oct. 30, 2021
Disaggregation of Revenue [Line Items]
Net sales	$ 187,439	$ 164,477	$ 359,359	$ 309,209
Gross profit:	31,704	32,264	57,498	64,452
Selling	14,525	12,482	28,958	24,277
General and administrative	8,687	8,201	18,128	15,772
Product design and development	6,966	7,196	14,405	14,358
Operating expenses:	30,178	27,879	61,491	54,407
Operating income (loss)	1,526	4,385	(3,993)	10,045
Interest (expense) income, net	(263)	(59)	(323)	78
Other expense, net	(208)	(952)	(955)	(1,820)
Income (loss) before income taxes	1,055	3,374	(5,271)	8,303
Depreciation and amortization:	4,200	3,737	8,225	7,789
Corporate, non-segment
Disaggregation of Revenue [Line Items]
Depreciation and amortization:	662	669	1,309	1,379
Commercial
Disaggregation of Revenue [Line Items]
Net sales	37,047	34,463	77,165	67,244
Gross profit:	6,197	7,445
Commercial | Operating segments
Disaggregation of Revenue [Line Items]
Net sales			77,165	67,244
Gross profit:			11,018	14,623
Depreciation and amortization:	834	601	1,637	1,303
Live Events
Disaggregation of Revenue [Line Items]
Net sales	69,239	59,396	125,622	111,783
Gross profit:	7,983	5,585
Live Events | Operating segments
Disaggregation of Revenue [Line Items]
Net sales			125,622	111,783
Gross profit:			11,769	14,167
Depreciation and amortization:	1,627	1,248	3,193	2,585
High School Park and Recreation
Disaggregation of Revenue [Line Items]
Net sales	42,006	32,747	77,815	60,641
Gross profit:	11,811	10,749
High School Park and Recreation | Operating segments
Disaggregation of Revenue [Line Items]
Net sales			77,815	60,641
Gross profit:			21,788	20,258
Depreciation and amortization:	383	340	722	778
Transportation
Disaggregation of Revenue [Line Items]
Net sales	16,679	14,053	36,219	26,611
Gross profit:	4,084	4,404
Transportation | Operating segments
Disaggregation of Revenue [Line Items]
Net sales			36,219	26,611
Gross profit:			9,922	8,155
Depreciation and amortization:	128	127	253	266
International
Disaggregation of Revenue [Line Items]
Net sales	22,468	23,818	42,538	42,930
Gross profit:	1,629	4,081
International | Operating segments
Disaggregation of Revenue [Line Items]
Net sales			42,538	42,930
Gross profit:			3,001	7,249
Depreciation and amortization:	$ 566	$ 752	$ 1,111	$ 1,478

Segment Reporting - Schedule _2

Segment Reporting - Schedule of Revenue From External Customers and Long-lived Assets, By Geographical Areas (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 29, 2022	Oct. 30, 2021	Oct. 29, 2022	Oct. 30, 2021	Apr. 30, 2022
Disaggregation of Revenue [Line Items]
Net sales	$ 187,439	$ 164,477	$ 359,359	$ 309,209
Property and equipment, net of accumulated depreciation:	74,271		74,271		$ 66,765
United States
Disaggregation of Revenue [Line Items]
Net sales	163,142	138,821	312,580	262,303
Property and equipment, net of accumulated depreciation:	66,150		66,150		58,643
Outside United States
Disaggregation of Revenue [Line Items]
Net sales	24,297	$ 25,656	46,779	$ 46,906
Property and equipment, net of accumulated depreciation:	$ 8,121		$ 8,121		$ 8,122

Goodwill - Schedule of Goodwill

Goodwill - Schedule of Goodwill (Details) $ in Thousands	6 Months Ended
	Oct. 29, 2022 USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 7,927
Foreign currency translation	(290)
Ending balance	7,637
Live Events
Goodwill [Roll Forward]
Beginning balance	2,296
Foreign currency translation	(20)
Ending balance	2,276
Commercial
Goodwill [Roll Forward]
Beginning balance	3,349
Foreign currency translation	(146)
Ending balance	3,203
Transportation
Goodwill [Roll Forward]
Beginning balance	68
Foreign currency translation	(20)
Ending balance	48
International
Goodwill [Roll Forward]
Beginning balance	2,214
Foreign currency translation	(104)
Ending balance	$ 2,110

Goodwill (Details Textual)

Goodwill (Details Textual) $ in Thousands	Oct. 31, 2021 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill, impairment loss	$ 0

Financing Agreements (Details)

Financing Agreements (Details) - USD ($) $ in Thousands	Oct. 31, 2022	Oct. 29, 2022
Letter of credit
Line of Credit Facility [Line Items]
Long-term line of credit		$ 26,418
Line of credit facility, maximum borrowing capacity		11,665
Standby letters of credit
Line of Credit Facility [Line Items]
Long-term line of credit		6,917
Line of credit facility, maximum borrowing capacity		$ 616
Line of Credit | Subsequent Event
Line of Credit Facility [Line Items]
Line of credit, temporary expansion amount	$ 10,000

Commitments and Contingencies -

Commitments and Contingencies - Schedule of Product Warranty Liability (Details) $ in Thousands	6 Months Ended
	Oct. 29, 2022 USD ($)
Movement in Standard Product Warranty Accrual [Roll Forward]
Beginning accrued warranty obligations	$ 28,878
Warranties issued during the period	5,951
Settlements made during the period	(3,923)
Changes in accrued warranty obligations for pre-existing warranties during the period, including expirations	(1,152)
Ending accrued warranty obligations	$ 29,754

Commitments and Contingencies_2

Commitments and Contingencies (Details Textual) $ in Thousands	Oct. 29, 2022 USD ($)
Financial Standby Letter of Credit
Loss Contingencies [Line Items]
Loss contingency accrual	$ 6,917
Guarantee of Business Revenue
Loss Contingencies [Line Items]
Loss contingency accrual	616
Surety Bond
Loss Contingencies [Line Items]
Loss contingency accrual	$ 72,777

Income Taxes (Details Textual)

Income Taxes (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 29, 2022	Oct. 30, 2021	Oct. 29, 2022	Oct. 30, 2021
Income Tax Disclosure [Abstract]
Tax rate	1,330.70%	29.60%	(247.30%)	27%
Unrecognized tax benefits	$ 593		$ 593

Fair Value Measurement - Schedu

Fair Value Measurement - Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis (Details) - USD ($) $ in Thousands	Oct. 29, 2022	Apr. 30, 2022
US Government securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale securities:		$ 3,486
US Government sponsored entities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale securities:		534
Level 1 | US Government securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale securities:		3,486
Level 1 | US Government sponsored entities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale securities:		0
Level 2 | US Government securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale securities:		0
Level 2 | US Government sponsored entities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale securities:		534
Level 3 | US Government securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale securities:		0
Level 3 | US Government sponsored entities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale securities:		0
Fair Value, Recurring
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	$ 6,431	17,143
Restricted cash	712	865
Derivatives - asset position	1,175	934
Derivatives - liability position		(311)
Fair value, net asset (liability), total	8,843	22,651
Fair Value, Recurring | US Government securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale securities:	0
Fair Value, Recurring | US Government sponsored entities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale securities:	525
Fair Value, Recurring | Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	6,431	17,143
Restricted cash	712	865
Derivatives - asset position	0	0
Derivatives - liability position		0
Fair value, net asset (liability), total	7,143	21,494
Fair Value, Recurring | Level 1 | US Government securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale securities:	0
Fair Value, Recurring | Level 1 | US Government sponsored entities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale securities:	0
Fair Value, Recurring | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	0	0
Restricted cash	0	0
Derivatives - asset position	1,175	934
Derivatives - liability position		(311)
Fair value, net asset (liability), total	1,700	1,157
Fair Value, Recurring | Level 2 | US Government securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale securities:	0
Fair Value, Recurring | Level 2 | US Government sponsored entities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale securities:	525
Fair Value, Recurring | Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	0	0
Restricted cash	0	0
Derivatives - asset position	0	0
Derivatives - liability position		0
Fair value, net asset (liability), total	0	$ 0
Fair Value, Recurring | Level 3 | US Government securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale securities:	0
Fair Value, Recurring | Level 3 | US Government sponsored entities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale securities:	$ 0