Daktronics (DAKT) 10-Q 4 Sep 24 2025 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Jul. 27, 2024	Aug. 26, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jul. 27, 2024
Document Transition Report	false
Entity File Number	001-38747
Entity Registrant Name	Daktronics, Inc.
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		46,648,863
Entity Central Index Key	0000915779
Amendment Flag	false
Current Fiscal Year End Date	--04-26
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2025
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	Jul. 27, 2024	Apr. 27, 2024
CURRENT ASSETS:
Cash and cash equivalents	$ 96,809	$ 81,299
Restricted cash	379	379
Accounts receivable, net	132,021	117,186
Inventories	134,949	138,008
Contract assets	54,129	55,800
Current maturities of long-term receivables	436	298
Prepaid expenses and other current assets	8,579	8,531
Income tax receivables	110	448
Total current assets	427,412	401,949
Property and equipment, net	73,613	71,752
Long-term receivables, less current maturities	119	562
Goodwill	3,197	3,226
Intangibles, net	767	840
Debt issuance costs, net	2,220	2,530
Investment in affiliates and other assets	20,708	21,163
Deferred income taxes	25,850	25,862
TOTAL ASSETS	553,886	527,884
CURRENT LIABILITIES:
Current portion of long-term debt	1,500	1,500
Accounts payable	67,265	60,757
Contract liabilities	71,782	65,524
Accrued expenses	39,448	43,028
Warranty obligations	16,408	16,540
Income taxes payable	543	4,947
Total current liabilities	196,946	192,296
Long-term warranty obligations	22,467	21,388
Long-term contract liabilities	17,378	16,342
Other long-term obligations	4,270	5,759
Long-term debt, net	74,472	53,164
Deferred income taxes	142	143
Total long-term liabilities	118,729	96,796
SHAREHOLDERS' EQUITY:
Preferred Shares, no par value, authorized 50 shares; no shares issued and outstanding	0	0
Common Stock, no par value, authorized 115,000 shares; 48,523 and 48,121 shares issued as of July 27, 2024 and April 27, 2024, respectively	69,242	65,525
Additional paid-in capital	52,566	52,046
Retained earnings	133,085	138,031
Treasury Stock, at cost, 1,907 shares as of July 27, 2024 and April 27, 2024, respectively	(10,285)	(10,285)
Accumulated other comprehensive loss	(6,397)	(6,525)
TOTAL SHAREHOLDERS' EQUITY	238,211	238,792
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 553,886	$ 527,884

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parentheticals) - shares	Jul. 27, 2024	Apr. 27, 2024
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)	48,523,000	48,121,000
Treasury stock, shares (in shares)	1,907,000	1,907,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Jul. 27, 2024	Jul. 29, 2023
Income Statement [Abstract]
Net sales	$ 226,088	$ 232,531
Cost of sales	166,390	161,384
Gross profit	59,698	71,147
Operating expenses:
Selling	15,636	12,929
General and administrative	11,723	9,599
Product design and development	9,623	8,403
Operating expenses	36,982	30,931
Operating income	22,716	40,216
Nonoperating (expense) income:
Interest (expense) income, net	(71)	(881)
Change in fair value of convertible note	(21,590)	(7,260)
Other expense and debt issuance costs write-off, net	(835)	(3,979)
Income before income taxes	220	28,096
Income tax expense	5,166	8,900
Net (loss) income	$ (4,946)	$ 19,196
Weighted average shares outstanding:
Basic (in shares)	46,311	45,645
Diluted (in shares)	46,311	46,198
Earnings (loss) per share:
Basic (in usd per share)	$ (0.11)	$ 0.42
Diluted (in usd per share)	$ (0.11)	$ 0.42

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended
	Jul. 27, 2024	Jul. 29, 2023
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (4,946)	$ 19,196
Other comprehensive income (loss):
Cumulative translation adjustments	128	(252)
Unrealized gain on available-for-sale securities, net of tax	0	7
Total other comprehensive income (loss), net of tax	128	(245)
Comprehensive (loss) income	$ (4,818)	$ 18,951

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
Beginning balance, common stock (in shares) at Apr. 29, 2023		47,396,000
Beginning balance, treasury stock (in shares) at Apr. 29, 2023					1,907,000
Balance beginning at Apr. 29, 2023	$ 200,878	$ 63,023	$ 50,259	$ 103,410	$ (10,285)	$ (5,529)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	19,196			19,196
Cumulative translation adjustments	(252)					(252)
Unrealized gain on available-for-sale securities, net of tax	7					7
Share-based compensation	557		557
Exercise of stock options (in shares)		11,000
Exercise of stock options	46	$ 46
Employee savings plan activity (in shares)		211,000
Employee savings plan activity	615	$ 615
Balance ending at Jul. 29, 2023	$ 221,047	$ 63,684	50,816	122,606	$ (10,285)	(5,774)
Ending balance, common stock (in shares) at Jul. 29, 2023		47,618,000
Ending balance, treasury stock (in shares) at Jul. 29, 2023					1,907,000
Beginning balance, common stock (in shares) at Apr. 27, 2024		48,121,000
Beginning balance, treasury stock (in shares) at Apr. 27, 2024	(1,907,000)				(1,907,000)
Balance beginning at Apr. 27, 2024	$ 238,792	$ 65,525	52,046	138,031	$ (10,285)	(6,525)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	(4,946)			(4,946)
Cumulative translation adjustments	128					128
Unrealized gain on available-for-sale securities, net of tax	0
Share-based compensation	520		520
Exercise of stock options (in shares)		331,000
Exercise of stock options	3,148	$ 3,148
Employee savings plan activity (in shares)		71,000
Employee savings plan activity	569	$ 569
Balance ending at Jul. 27, 2024	$ 238,211	$ 69,242	$ 52,566	$ 133,085	$ (10,285)	$ (6,397)
Ending balance, common stock (in shares) at Jul. 27, 2024		48,523,000
Ending balance, treasury stock (in shares) at Jul. 27, 2024	(1,907,000)				(1,907,000)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Jul. 27, 2024	Jul. 29, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Net (loss) income	$ (4,946)	$ 19,196
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization	4,893	4,669
(Gain) loss on sale of property, equipment and other assets	(20)	11
Share-based compensation	520	557
Equity in loss of affiliates	931	690
Provision for doubtful accounts, net	265	(65)
Deferred income taxes, net	13	12
Non-cash impairment charges	0	442
Change in fair value of convertible note	21,590	7,260
Debt issuance costs write-off	0	3,353
Change in operating assets and liabilities	(3,765)	(16,875)
Net cash provided by operating activities	19,481	19,250
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment	(5,081)	(4,547)
Proceeds from sales of property, equipment and other assets	45	27
Proceeds from sales or maturities of marketable securities	0	0
Purchases of equity and loans to equity investees	(933)	(1,186)
Net cash used in investing activities	(5,969)	(5,706)
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings on notes payable	0	40,000
Payments on notes payable	(983)	(17,750)
Principal payments on long-term obligations	(103)	(102)
Debt issuance costs	0	(5,838)
Proceeds from exercise of stock options	3,148	46
Net cash provided by financing activities	2,062	16,356
EFFECT OF EXCHANGE RATE CHANGES ON CASH	(64)	(240)
NET INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	15,510	29,660
CASH, CASH EQUIVALENTS AND RESTRICTED CASH:
Beginning of period	81,678	24,690
End of period	97,188	54,350
Cash paid for:
Interest	889	97
Income taxes, net of refunds	9,081	5,771
Supplemental schedule of non-cash investing and financing activities:
Purchases of property and equipment included in accounts payable	2,909	839
Contributions of common stock under the ESPP	$ 569	$ 614

Basis of Presentation

Basis of Presentation	3 Months Ended
	Jul. 27, 2024
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 industry leaders 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 of assets and liabilities, revenues and expenses, and the disclosure of contingent liabilities. Estimates used in the preparation of the unaudited consolidated financial statements include, among others, revenue recognition, future warranty expenses, the fair value of long-term debt, the fair value of investments in affiliates, income tax expenses, and stock-based compensation. 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 as of April 27, 2024 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 27, 2024, 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 three months ended July 27, 2024 and July 29, 2023 contained operating results for 13 weeks. 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 27, 2024. 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 certain issuances of foreign bank guarantees. July 27, July 29, April 27, Cash and cash equivalents $ 96,809 $ 45,775 $ 81,299 Restricted cash 379 8,575 379 Total cash, cash equivalents, and restricted cash shown in the condensed consolidated statements of cash flows $ 97,188 $ 54,350 $ 81,678 We have foreign currency cash accounts to operate our global business. These accounts are impacted by changes in foreign currency rates. Of our $96,809 in cash and cash equivalent balances as of July 27, 2024, $81,246 were denominated in United States dollars, of which $1,649 were held by our foreign subsidiaries. As of July 27, 2024, we had an additional $15,563 in cash balances denominated in foreign currencies, of which $10,922 were maintained in accounts of our foreign subsidiaries. Recent Accounting Pronouncements Accounting Standards Adopted There are no significant Accounting Standard Updates ("ASU") issued that were adopted in the three months ended July 27, 2024. Accounting Standards Not Yet Adopted In November 2023, the Financial Accounting Standards Board ("FASB") issued ASU 2023-07, Segment Reporting (Topic 280), Improvements to Reportable Segment Disclosures ("ASU 2023-07"). ASU 2023-07 requires enhanced disclosures about significant segment expenses. The Company is required to adopt ASU 2023-07 for its annual reporting in fiscal year 2025 and for interim period reporting beginning in the first quarter of fiscal year 2026 on a retrospective basis. Early adoption is permitted. We are currently evaluating the impact of ASU 2023-07 on our segment disclosures. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740) Improvements to Income Tax Disclosures ("ASU 2023-09"). ASU 2023-09 requires the disclosure of specified additional information in its income tax rate reconciliation and to provide additional information for reconciling items that meet a quantitative threshold. ASU 2023-09 will also require disaggregation of income taxes paid disclosure by federal, state and foreign taxes, with further disaggregation required for significant individual jurisdictions. The Company is required to adopt this guidance for its annual reporting in fiscal year 2026 on a prospective basis. Early adoption and retroactive application are permitted. We are currently evaluating the impact of ASU 2023-09 on our income tax disclosures.

Investments in Affiliates

Investments in Affiliates	3 Months Ended
	Jul. 27, 2024
Investments in and Advances to Affiliates, Schedule of Investments [Abstract]
Investments in Affiliates	Investments in Affiliates We use the equity method to account for investments in companies if our investment provides us with the ability to exercise significant influence over operating and financial policies of the investee. Our consolidated net (loss) income includes our Company's proportionate share of the net income or loss of these companies. Our judgment regarding the level of influence over each equity method investee includes considering key factors such as our ownership interest, representation on the board of directors, participation in policy-making decisions, other commercial arrangements, and material intercompany transactions. We evaluated the nature of our investment in affiliates of Xdisplay TM ("XDC"), which is developing micro-LED mass transfer expertise and technologies, and Miortech (dba Etulipa), which is developing low power outdoor electrowetting technology. Our ownership in Miortech was 55.9 percent and in XDC was 16.4 percent as of July 27, 2024. The aggregate amount of our investments accounted for under the equity method was $893 and $1,813 as of July 27, 2024 and April 27, 2024, respectively. We determined both entities are variable interest entities, and based on management's analysis, we determined that Daktronics is not the primary beneficiary because the power criterion was not met; therefore, the investments in Miortech and XDC are accounted for under the equity method. Our consolidated net (loss) income includes our Company's proportionate share of the net income or loss of each affiliates. Our proportional share of the respective affiliates' earnings or losses is included in the "Other expense and debt issuance costs write-off, net" line item in our condensed consolidated statements of operations. For the three months ended July 27, 2024, our share of the losses of our affiliates was $931 as compared to $690 for the three months ended July 29, 2023. We review our investments in affiliates for impairment indicators. There were no impairments recorded during three months ended July 27, 2024 compared to an impairment of $442 the first quarter of fiscal 2024. We purchased services for research and development activities from our equity method investees. The total of these related party transactions for the three months ended July 27, 2024 and July 29, 2023 was $223 and $78, respectively, which is included in the "Product design and development" line item in our condensed consolidated statements of operations, and for the three months ended July 27, 2024 and July 29, 2023, $123 and $2, respectively, remains unpaid and is included in the "Accounts payable" line item in our condensed consolidated balance sheets. We also have advanced our affiliates convertible and promissory notes (collectively, the "Affiliate Notes"). We advanced $958 in the three months ended July 27, 2024 and $5,050 in fiscal year 2024 under the Affiliate Notes. The total outstanding amount of the Affiliate Notes was $15,371 and $14,241 as of July 27, 2024 and April 27, 2024, respectively. The balances of Affiliate Notes are included in the "Investments in affiliates and other assets" line item in our condensed consolidated balance sheets. We evaluate the Affiliate Notes for impairment and credit losses. As of July 27, 2024 and April 27, 2024, no provision for losses was recorded as management's analysis concluded the Affiliate Notes were collectable or realizable based on the rights of these instruments and related valuation of each affiliate. The Affiliate Notes balance combined with the investment in affiliates balance totaled $16,264 and $16,054 as of July 27, 2024 and April 27, 2024, respectively.

Earnings Per Share ("EPS")

Earnings Per Share ("EPS")	3 Months Ended
	Jul. 27, 2024
Earnings Per Share [Abstract]
Earnings Per Share ("EPS")	Earnings Per Share ("EPS") We follow the provisions of Accounting Standards Codification ("ASC 260"), Earnings Per Share , where basic earnings per share ("EPS") is computed by dividing income attributable to common shareholders by the weighted average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution which may occur if securities or other obligations to issue common stock were exercised or converted into shares of common stock or resulted in the issuance of shares of common stock which share in our earnings. 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 months ended July 27, 2024 and July 29, 2023: Three Months Ended July 27, July 29, Earnings per share - basic Net (loss) income $ (4,946) $ 19,196 Weighted average shares outstanding 46,311 45,645 Basic earnings (loss) per share $ (0.11) $ 0.42 Earnings per share - diluted Net (loss) income $ (4,946) $ 19,196 Diluted net (loss) income $ (4,946) $ 19,196 Weighted average common shares outstanding 46,311 45,645 Dilution associated with stock compensation plans — 553 Dilution associated with convertible note — — Weighted average common shares outstanding, assuming dilution 46,311 46,198 Diluted earnings (loss) per share $ (0.11) $ 0.42 Options outstanding to purchase 161 and 1,326 shares of common stock with a weighted average exercise price of $12.52 and $8.97 for the three months ended July 27, 2024 and July 29, 2023, respectively, were not included in the computation of diluted earnings per share because the effects would be anti-dilutive.

Revenue Recognition

Revenue Recognition	3 Months Ended
	Jul. 27, 2024
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition Disaggregation of revenue In accordance with ASC 606-10-50, we disaggregate revenue from contracts with customers by the type of performance obligation and the timing of revenue recognition. We determine that disaggregating revenue in these categories achieves the disclosure objective to depict how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors and to enable users of financial statements to understand the relationship to each reportable segment. The following table presents our disaggregation of revenue by segments: Three Months Ended July 27, 2024 Commercial Live Events High School Park and Recreation Transportation International Total Type of performance obligation Unique configuration $ 2,262 $ 94,318 $ 10,634 $ 14,536 $ 2,614 $ 124,364 Limited configuration 26,300 8,294 35,148 6,609 8,072 84,423 Service and other 5,637 5,996 2,224 1,345 2,099 17,301 $ 34,199 $ 108,608 $ 48,006 $ 22,490 $ 12,785 $ 226,088 Timing of revenue recognition Goods/services transferred at a point in time $ 29,513 $ 10,750 $ 35,379 $ 7,561 $ 9,141 $ 92,344 Goods/services transferred over time 4,686 97,858 12,627 14,929 3,644 133,744 $ 34,199 $ 108,608 $ 48,006 $ 22,490 $ 12,785 $ 226,088 Three Months Ended July 29, 2023 Commercial Live Events High School Park and Recreation Transportation International Total Type of performance obligation Unique configuration $ 12,918 $ 76,547 $ 15,119 $ 12,584 $ 8,790 $ 125,958 Limited configuration 29,913 9,961 40,337 8,067 5,239 93,517 Service and other 4,052 5,491 778 718 2,017 13,056 $ 46,883 $ 91,999 $ 56,234 $ 21,369 $ 16,046 $ 232,531 Timing of revenue recognition Goods/services transferred at a point in time $ 31,018 $ 10,777 $ 39,081 $ 8,267 $ 5,843 $ 94,986 Goods/services transferred over time 15,865 81,222 17,153 13,102 10,203 137,545 $ 46,883 $ 91,999 $ 56,234 $ 21,369 $ 16,046 $ 232,531 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 customers in excess of revenue recognized to date. The following table reflects the changes in our contract assets and liabilities: July 27, April 27, Dollar Percent Contract assets $ 54,129 $ 55,800 $ (1,671) (3.0) % Contract liabilities - current 71,782 65,524 6,258 9.6 Contract liabilities - noncurrent 17,378 16,342 1,036 6.3 The changes in our contract assets and contract liabilities from April 27, 2024 to July 27, 2024 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 significant impairments of contract assets for the three months ended July 27, 2024. 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" line items of our condensed consolidated balance sheets. Changes in unearned service-type warranty contracts, net were as follows: July 27, Balance as of April 27, 2024 $ 32,159 New contracts sold 12,269 Less: reductions for revenue recognized (10,188) Foreign currency translation and other (485) Balance as of July 27, 2024 $ 33,755 Contracts in progress identified as loss contracts as of July 27, 2024 and April 27, 2024 were immaterial. Loss provisions are recorded in the "Accrued expenses" line item in our condensed consolidated balance sheets. During the three months ended July 27, 2024, we recognized revenue of $39,918 related to our contract liabilities as of April 27, 2024. Remaining performance obligations

Segment Reporting

Segment Reporting	3 Months Ended
	Jul. 27, 2024
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 July 27, July 29, Net sales: Commercial $ 34,199 $ 46,883 Live Events 108,608 91,999 High School Park and Recreation 48,006 56,234 Transportation 22,490 21,369 International 12,785 16,046 226,088 232,531 Gross profit: Commercial 7,595 12,769 Live Events 26,028 27,940 High School Park and Recreation 17,316 20,825 Transportation 7,749 7,089 International 1,010 2,524 59,698 71,147 Operating expenses: Selling 15,636 12,929 General and administrative 11,723 9,599 Product design and development 9,623 8,403 36,982 30,931 Operating income 22,716 40,216 Nonoperating (expense) income: Interest (expense) income, net (71) (881) Change in fair value of convertible note (21,590) (7,260) Other expense and debt issuance costs write-off, net (835) (3,979) Income before income taxes $ 220 $ 28,096 Depreciation and amortization: Commercial $ 1,082 $ 1,042 Live Events 1,429 1,613 High School Park and Recreation 533 462 Transportation 202 168 International 562 566 Unallocated corporate depreciation and amortization 1,085 818 $ 4,893 $ 4,669 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 July 27, July 29, Net sales: United States $ 207,219 $ 214,593 Outside United States 18,869 17,938 $ 226,088 $ 232,531 July 27, April 27, Property and equipment, net of accumulated depreciation: United States $ 66,168 $ 64,332 Outside United States 7,445 7,420 $ 73,613 $ 71,752 We have numerous customers worldwide for sales of our products and services, and no customer accounted for 10 percent or more of net sales; 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	3 Months Ended
	Jul. 27, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	Goodwill The changes in the carrying amount of goodwill related to each segment with a goodwill balance for the three months ended July 27, 2024 were as follows: Commercial Transportation Total Balance as of April 27, 2024 $ 3,188 $ 38 $ 3,226 Foreign currency translation (23) (6) (29) Balance as of July 27, 2024 $ 3,165 $ 32 $ 3,197 We perform an analysis of goodwill on an annual basis, and it is tested 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.

Financing Agreements

Financing Agreements	3 Months Ended
	Jul. 27, 2024
Debt Disclosure [Abstract]
Financing Agreements	Financing Agreements Long-term debt consists of the following: July 27, April 27, Mortgage 13,500 13,875 Convertible note 25,000 25,000 Long-term debt, gross 38,500 38,875 Debt issuance costs, net (668) (761) Change in fair value of convertible note 38,140 16,550 Current portion (1,500) (1,500) Long-term debt, net $ 74,472 $ 53,164 Credit Agreements On May 11, 2023, we closed on a $75,000 senior credit facility (the "Credit Facility"). The Credit Facility consists of a $60,000 asset-based revolving credit facility (the "ABL") maturing on May 11, 2026, which is secured by a first priority lien on the Company's assets, and a $15,000 delayed draw loan (the "Delayed Draw Loan") secured by a first priority mortgage on our Brookings, South Dakota real estate (the "Mortgage"). Under the ABL, certain factors can impact our borrowing capacity. As of July 27, 2024, our borrowing capacity was $38,568, there were no borrowings outstanding, and there was $5,343 used to secure letters of credit outstanding. The interest rate on the ABL is set on a sliding scale based on the trailing 12-month fixed charge coverage and ranges from 2.5 to 3.5 percent over the standard overnight financing rate (SOFR). The $15,000 Delayed Draw Loan was funded on July 7, 2023. It amortizes over 10 years and has monthly payments of $125. The Delayed Draw Loan is subject to the terms of the Credit Agreement and matures on May 11, 2026. The interest rate on the Delayed Draw Loan is set on a sliding scale based on the trailing 12-month fixed charge coverage ratio and ranges between 1.0 and 2.0 percent over the Commercial Bank Floating Rate (CBFR). The interest rate as of July 27, 2024 for Delayed Draw Loan was 9.5 percent. Convertible Note On May 11, 2023, we borrowed $25,000 in aggregate principal amount evidenced by the secured convertible note (the "Convertible Note") due May 11, 2027. Alta Fox Opportunities Fund, LP, as the holder (the "Holder") of the Convertible Note has a second priority lien on assets securing the ABL facility and a first priority lien on substantially all of the other assets of the Company, excluding all real property. Conversion Features • The Convertible Note allows the Holder and any of the Holder’s permitted transferees, donees, pledgees, assignees or successors-in-interest (collectively, the “Selling Shareholders”) to convert all or any portion of the principal amount of the Convertible Note, together with any accrued and unpaid interest and any other unpaid amounts, including late charges, if any (together, the “Conversion Amount”), into shares of the Company’s common stock at an initial conversion price of $6.31 per share, subject to adjustment in accordance with the terms of the Convertible Note (the “Conversion Price”). • The Company also has a forced conversion right, which is exercisable on the occurrence of certain conditions set forth in the Convertible Note, pursuant to which it can cause all or any portion of the outstanding and unpaid Conversion Amount to be converted into shares of common stock at the Conversion Price. Additionally, if the Company fails other than by reason of a failure by the Holder to comply with its obligations, the Holder is permitted to cash payments from the Company until such conversion failure is cured. Redemption Features • If the Company were to have an "Event of Default", as defined by the Convertible Note, then the Holder may require the Company to redeem all or any portion of the Convertible Note. • If the Company has a "Change of Control", as defined by the Convertible Note, then the Holder is entitled to payment of the outstanding amount of the Convertible Note at the "Change in Control Redemption Price," as defined in the Convertible Note. Interest Interest accruing under the Convertible Note is payable, at the option of the Company, in either (i) cash or (ii) a combination of cash interest and capitalized interest; provided, however, that at least fifty percent (50%) of the interest paid on each interest date must be paid as cash interest. The Convertible Note accrues interest quarterly at an annual rate of 9.0 percent when interest is paid in cash or an annual rate of 10.0 percent if interest is paid in kind. Upon an event of default under the Convertible Note, the annual interest rate will increase to 12.0 percent. The annual rate of 9.0 percent was used to calculate the interest accrued as of July 27, 2024, as interest will be paid in cash. We elected the fair value option to account for the Convertible Note as described in "Note 10. Fair Value Measurement" of the Notes to our Condensed Consolidated Financial Statements included in this Form 10-Q. The financial liability was initially measured at its issue-date fair value and is subsequently remeasured at fair value on a recurring basis at each reporting period date. We have elected to present the fair value and the accrued interest component separately in the condensed consolidated statements of operations. Therefore, interest will be recognized and accrued separately in interest expense, with changes in fair value of the Convertible Note presented in the "Change in fair value of convertible note" line item in our condensed consolidated statements of operations. The changes in fair value of the Convertible Note during the three months ended July 27, 2024 are as follows: Liability Component (in thousands) Balance as of April 27, 2024 $ 41,550 Redemption of convertible promissory note — Fair value change recognized 21,590 Balance as of July 27, 2024 $ 63,140 The estimated fair value of the Convertible Note upon its issuance date of May 11, 2023 and as of July 27, 2024 was computed using a binomial lattice model which incorporates significant inputs that are not observable in the market and thus represents a Level 3 measurement. We determined the fair value by using the following key assumptions in the binomial lattice model: Risk-Free Rate (Annual) 4.19 % Implied Yield 15.98 % Volatility (Annual) 45.00 % Dividend Yield (Annual) — % The Credit Agreement and the Convertible Note require a fixed charge coverage ratio of greater than 1.1 and include other customary non-financial covenants. As of July 27, 2024, we were in compliance with our financial covenants under the Credit Agreement and the Convertible Note. Debt Issuance Costs Debt issuance costs incurred and capitalized are amortized on a straight-line basis over the term of the associated debt agreement. If early principal payments or conversions occur, a proportional amount of unamortized debt issuance costs is expensed. As part of these financings, we capitalized $8,195 in debt issuance costs. During the three months ended July 29, 2023, due to the Convertible Note being accounted for at fair value, we expensed $3,353 of the related debt issuance costs which is included in the "Other expense and debt issuance costs write-off, net" line item in our condensed consolidated statements of operations. During the three months ended July 27, 2024 and July 29, 2023, we amortized $403 and $328, respectively, of debt issuance costs. The remaining debt issuance costs of $2,888 are being amortized over the remaining two-year term of the Credit Facility. Future Maturities Aggregate contractual maturities of debt in future fiscal years are as follows: Fiscal years ending Amount Remainder of 2025 $ 1,125 2026 1,500 2027 10,875 2028 25,000 2029 — Total debt $ 38,500

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Jul. 27, 2024
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. We establish accruals for those contingencies when the incurrence of a loss is probable and can be reasonably estimated, and we disclose the amount accrued and the amount of a reasonably possible loss in excess of the amount accrued if such disclosure is necessary for our financial statements to not be misleading. We do not record an accrual when the likelihood of loss being incurred is probable, but the amount cannot be reasonably estimated, or when the loss is believed to be only reasonably possible or remote, although disclosures will be made for material matters as required by ASC 450-20, Contingencies - Loss Contingencies . Our assessment of whether a loss is reasonably possible or probable is based on our assessment and consultation with legal counsel regarding the ultimate outcome of the matter following all appeals. For other unresolved legal proceedings or claims, we do not believe there is a reasonable probability that any material loss would 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 three months ended July 27, 2024 consisted of the following: July 27, Balance as of April 27, 2024 $ 37,928 Warranties issued during the period 4,017 Settlements made during the period (3,519) Changes in accrued warranty obligations for pre-existing warranties during the period, including expirations 449 Balance as of July 27, 2024 $ 38,875 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 July 27, 2024, we had outstanding letters of credit and surety bonds in the amount of $5,343 and $15,729, 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 generally have a term of 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 July 27, 2024, we were not aware of any material indemnification claims.

Income Taxes

Income Taxes	3 Months Ended
	Jul. 27, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Our effective tax rate for the first quarter of fiscal 2025 was skewed due to the impact of the fair value in the Convertible Note in proportion to the period's small pre-tax income. The effective tax rate was 31.7 percent for the three months ended July 29, 2023. Both periods' income before taxes included the impacts of the change in the Convertible Note fair value adjustment. These changes are not deductible or taxable, which is the primary driver for each period's effective tax rate. We operate both domestically and internationally and, as of July 27, 2024, the undistributed earnings of our foreign subsidiaries were considered to be reinvested indefinitely. Additionally, as of July 27, 2024, we had $495 of unrecognized tax benefits which would reduce our effective tax rate if recognized.

Fair Value Measurement

Fair Value Measurement	3 Months Ended
	Jul. 27, 2024
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 as of July 27, 2024 and April 27, 2024 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 July 27, 2024 Cash and cash equivalents $ 96,809 $ — $ — $ 96,809 Restricted cash 379 — — 379 Convertible note — — (63,140) (63,140) $ 97,188 $ — $ (63,140) $ 34,048 Balance as of April 27, 2024 Cash and cash equivalents $ 81,299 $ — $ — $ 81,299 Restricted cash 379 — — 379 Convertible note — — (41,550) (41,550) $ 81,678 $ — $ (41,550) $ 40,128 We elected to value the Convertible Note at fair value in accordance with ASC 825-10-15-4(a) because of the embedded derivatives contained in the Convertible Note. The fair value of the Convertible Note was estimated using a binomial lattice model. Binomial lattice allows for the examination of the value to a holder and understanding the investment decision that would occur at each node. The fair value of the Convertible Note entered into during the first quarter of fiscal 2024 was classified as Level 3 because certain inputs for the valuation were not readily determinable or observable. There have been no other changes in the valuation techniques used by us to value our financial instruments since the end of fiscal 2024. For additional information, see our Annual Report on Form 10-K for the fiscal year ended April 27, 2024 for the methods and assumptions used to estimate the fair value of each class of financial instrument.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Jul. 27, 2024
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions The Company's Board of Directors has adopted a written policy and procedures with respect to related party transactions, which the Audit Committee oversees. Under the policy, a "related party transaction" is generally defined as a transaction, arrangement, or relationship in which the Company was, is or will be a participant; the amount involved exceeds $120; and in which any "related person" had, has or will have a direct or indirect material interest. The policy generally defines a "related person" as a Director, executive officer or beneficial owner of more than five percent of any class of our voting securities and any immediate family member of any of the foregoing persons. The Audit Committee reviews and, if appropriate, approves related party transactions, including certain transactions which are deemed to be pre-approved under the policy. On an annual basis, the Audit Committee reviews any previously approved related party transaction that is ongoing. As reported in Part II, Item 7 “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the section entitled “Liquidity and Capital Resources” of our Annual Report on Form 10-K for the fiscal year ended April 27, 2024, effective on May 11, 2023, the Company entered into the Securities Purchase Agreement with the Holder of the Convertible Note. Under the Securities Purchase Agreement, the Company sold and issued to the Holder the Convertible Note in exchange for the payment by the Holder to the Company of $25,000. As of May 11, 2023, and based on Amendment No. 2 to the Schedule 13D filed by the Holder and its affiliates named therein on May 15, 2023 with the SEC, the Holder and its affiliates beneficially owned 4,768 shares of common stock of the Company, representing 9.99 percent of the Company’s common stock, causing the Holder to be a “related party” of the Company under the Company’s written policy and procedures and the applicable definitions under the Securities Act of 1933. The Securities Purchase Agreement, the Convertible Note, the Pledge and Security Agreement dated as of May 11, 2023 by and between the Holder and the Company, and the Registration Rights Agreement were approved in advance of their execution by the Company’s Strategy and Financing Review Committee, the members of which include all members of the Company’s Audit Committee. Since May 11, 2023, the largest aggregate amount outstanding under the Convertible Note was $25,563, consisting of $25,000 of principal and $563 of interest. In the first three months of fiscal 2025, we have made interest payments of $375 under the Convertible Note. The description of the Securities Purchase Agreement, the Convertible Note, the Pledge and Security Agreement, and the Registration Rights Agreement dated as of May 11, 2023 by and between the Holder and the Company and their respective terms set forth in Part II, Item 7 “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the section entitled “Liquidity and Capital Resources” of the Company's Annual Report on Form 10-K for the fiscal year ended April 27, 2024 is hereby incorporated by reference into this Report. In addition, the Company is a party to the Standstill and Voting Agreement dated as of March 19, 2023 with Alta Fox Management, LLC and Connor Haley (the “Standstill Agreement”), who are affiliates of the Holder. As described in Amendment No. 3 (“Amendment No. 3”) to the Schedule 13D filed by the Holder and its affiliates named therein on June 9, 2023 with the SEC, and based on other information provided by the Holder, the following persons may be deemed to be beneficial owners of the shares of the Company’s common stock beneficially owned by the Holder: Alta Fox GenPar, LP, as the general partner of Alta Fox Opportunities Fund, LP; Alta Fox Equity, LLC, as the general partner of Alta Fox GenPar, LP; Alta Fox Capital Management, LLC, as the investment manager of Alta Fox Opportunities Fund, LP; and P. Connor Haley, as the sole owner, member and manager of each of Alta Fox Capital Management, LLC and Alta Fox Equity LLC. On June 7, 2023, the Company received from the Holder a written notice of a decrease in the “Percentage Cap” (as such term is defined in the Convertible Note) from 9.99 percent to 4.99 percent, which decrease became effective immediately upon the Company’s receipt of such written notice. The Percentage Cap generally represents the maximum percentage of shares of the Company’s common stock the Holder may own. In Amendment No. 3, the Holder and its affiliates identified in Amendment No. 3 owned 2,293 shares of common stock on June 9, 2023, representing 4.99 percent of the common stock of the Company, meaning the Holder and its affiliates are no longer “related parties” of the Company under the Company’s written policy and procedures and the applicable definitions under the Securities Act of 1933. During the first three months of fiscal 2024, the Company and the South Dakota Board of Regents entered into a contract for a video display system for Dakota State University. The amount of the contract was $150. A member of the Company's Board of Directors is the President of Dakota State University. See "Note 2. Investments in Affiliates" for further details of related party transactions with our investments in the Affiliate Notes issued by our affiliates.

Basis of Presentation (Policies

Basis of Presentation (Policies)	3 Months Ended
	Jul. 27, 2024
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 of assets and liabilities, revenues and expenses, and the disclosure of contingent liabilities. Estimates used in the preparation of the unaudited consolidated financial statements include, among others, revenue recognition, future warranty expenses, the fair value of long-term debt, the fair value of investments in affiliates, income tax expenses, and stock-based compensation. 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 Accounting Standards Adopted There are no significant Accounting Standard Updates ("ASU") issued that were adopted in the three months ended July 27, 2024. Accounting Standards Not Yet Adopted In November 2023, the Financial Accounting Standards Board ("FASB") issued ASU 2023-07, Segment Reporting (Topic 280), Improvements to Reportable Segment Disclosures ("ASU 2023-07"). ASU 2023-07 requires enhanced disclosures about significant segment expenses. The Company is required to adopt ASU 2023-07 for its annual reporting in fiscal year 2025 and for interim period reporting beginning in the first quarter of fiscal year 2026 on a retrospective basis. Early adoption is permitted. We are currently evaluating the impact of ASU 2023-07 on our segment disclosures. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740) Improvements to Income Tax Disclosures ("ASU 2023-09"). ASU 2023-09 requires the disclosure of specified additional information in its income tax rate reconciliation and to provide additional information for reconciling items that meet a quantitative threshold. ASU 2023-09 will also require disaggregation of income taxes paid disclosure by federal, state and foreign taxes, with further disaggregation required for significant individual jurisdictions. The Company is required to adopt this guidance for its annual reporting in fiscal year 2026 on a prospective basis. Early adoption and retroactive application are permitted. We are currently evaluating the impact of ASU 2023-09 on our income tax disclosures.

Basis of Presentation (Tables)

Basis of Presentation (Tables)	3 Months Ended
	Jul. 27, 2024
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 certain issuances of foreign bank guarantees. July 27, July 29, April 27, Cash and cash equivalents $ 96,809 $ 45,775 $ 81,299 Restricted cash 379 8,575 379 Total cash, cash equivalents, and restricted cash shown in the condensed consolidated statements of cash flows $ 97,188 $ 54,350 $ 81,678
Restrictions on 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 certain issuances of foreign bank guarantees. July 27, July 29, April 27, Cash and cash equivalents $ 96,809 $ 45,775 $ 81,299 Restricted cash 379 8,575 379 Total cash, cash equivalents, and restricted cash shown in the condensed consolidated statements of cash flows $ 97,188 $ 54,350 $ 81,678

Earnings Per Share ("EPS") (Tab

Earnings Per Share ("EPS") (Tables)	3 Months Ended
	Jul. 27, 2024
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 months ended July 27, 2024 and July 29, 2023: Three Months Ended July 27, July 29, Earnings per share - basic Net (loss) income $ (4,946) $ 19,196 Weighted average shares outstanding 46,311 45,645 Basic earnings (loss) per share $ (0.11) $ 0.42 Earnings per share - diluted Net (loss) income $ (4,946) $ 19,196 Diluted net (loss) income $ (4,946) $ 19,196 Weighted average common shares outstanding 46,311 45,645 Dilution associated with stock compensation plans — 553 Dilution associated with convertible note — — Weighted average common shares outstanding, assuming dilution 46,311 46,198 Diluted earnings (loss) per share $ (0.11) $ 0.42

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Jul. 27, 2024
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following table presents our disaggregation of revenue by segments: Three Months Ended July 27, 2024 Commercial Live Events High School Park and Recreation Transportation International Total Type of performance obligation Unique configuration $ 2,262 $ 94,318 $ 10,634 $ 14,536 $ 2,614 $ 124,364 Limited configuration 26,300 8,294 35,148 6,609 8,072 84,423 Service and other 5,637 5,996 2,224 1,345 2,099 17,301 $ 34,199 $ 108,608 $ 48,006 $ 22,490 $ 12,785 $ 226,088 Timing of revenue recognition Goods/services transferred at a point in time $ 29,513 $ 10,750 $ 35,379 $ 7,561 $ 9,141 $ 92,344 Goods/services transferred over time 4,686 97,858 12,627 14,929 3,644 133,744 $ 34,199 $ 108,608 $ 48,006 $ 22,490 $ 12,785 $ 226,088 Three Months Ended July 29, 2023 Commercial Live Events High School Park and Recreation Transportation International Total Type of performance obligation Unique configuration $ 12,918 $ 76,547 $ 15,119 $ 12,584 $ 8,790 $ 125,958 Limited configuration 29,913 9,961 40,337 8,067 5,239 93,517 Service and other 4,052 5,491 778 718 2,017 13,056 $ 46,883 $ 91,999 $ 56,234 $ 21,369 $ 16,046 $ 232,531 Timing of revenue recognition Goods/services transferred at a point in time $ 31,018 $ 10,777 $ 39,081 $ 8,267 $ 5,843 $ 94,986 Goods/services transferred over time 15,865 81,222 17,153 13,102 10,203 137,545 $ 46,883 $ 91,999 $ 56,234 $ 21,369 $ 16,046 $ 232,531
Contract with Customer, Contract Asset, Contract Liability, and Receivable	The following table reflects the changes in our contract assets and liabilities: July 27, April 27, Dollar Percent Contract assets $ 54,129 $ 55,800 $ (1,671) (3.0) % Contract liabilities - current 71,782 65,524 6,258 9.6 Contract liabilities - noncurrent 17,378 16,342 1,036 6.3 The changes in our contract assets and contract liabilities from April 27, 2024 to July 27, 2024 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 significant impairments of contract assets for the three months ended July 27, 2024. 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" line items of our condensed consolidated balance sheets. Changes in unearned service-type warranty contracts, net were as follows: July 27, Balance as of April 27, 2024 $ 32,159 New contracts sold 12,269 Less: reductions for revenue recognized (10,188) Foreign currency translation and other (485) Balance as of July 27, 2024 $ 33,755

Segment Reporting (Tables)

Segment Reporting (Tables)	3 Months Ended
	Jul. 27, 2024
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 July 27, July 29, Net sales: Commercial $ 34,199 $ 46,883 Live Events 108,608 91,999 High School Park and Recreation 48,006 56,234 Transportation 22,490 21,369 International 12,785 16,046 226,088 232,531 Gross profit: Commercial 7,595 12,769 Live Events 26,028 27,940 High School Park and Recreation 17,316 20,825 Transportation 7,749 7,089 International 1,010 2,524 59,698 71,147 Operating expenses: Selling 15,636 12,929 General and administrative 11,723 9,599 Product design and development 9,623 8,403 36,982 30,931 Operating income 22,716 40,216 Nonoperating (expense) income: Interest (expense) income, net (71) (881) Change in fair value of convertible note (21,590) (7,260) Other expense and debt issuance costs write-off, net (835) (3,979) Income before income taxes $ 220 $ 28,096 Depreciation and amortization: Commercial $ 1,082 $ 1,042 Live Events 1,429 1,613 High School Park and Recreation 533 462 Transportation 202 168 International 562 566 Unallocated corporate depreciation and amortization 1,085 818 $ 4,893 $ 4,669
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 July 27, July 29, Net sales: United States $ 207,219 $ 214,593 Outside United States 18,869 17,938 $ 226,088 $ 232,531 July 27, April 27, Property and equipment, net of accumulated depreciation: United States $ 66,168 $ 64,332 Outside United States 7,445 7,420 $ 73,613 $ 71,752

Goodwill (Tables)

Goodwill (Tables)	3 Months Ended
	Jul. 27, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The changes in the carrying amount of goodwill related to each segment with a goodwill balance for the three months ended July 27, 2024 were as follows: Commercial Transportation Total Balance as of April 27, 2024 $ 3,188 $ 38 $ 3,226 Foreign currency translation (23) (6) (29) Balance as of July 27, 2024 $ 3,165 $ 32 $ 3,197

Financing Agreements (Tables)

Financing Agreements (Tables)	3 Months Ended
	Jul. 27, 2024
Debt Disclosure [Abstract]
Schedule of Long-Term Debt Instruments	Long-term debt consists of the following: July 27, April 27, Mortgage 13,500 13,875 Convertible note 25,000 25,000 Long-term debt, gross 38,500 38,875 Debt issuance costs, net (668) (761) Change in fair value of convertible note 38,140 16,550 Current portion (1,500) (1,500) Long-term debt, net $ 74,472 $ 53,164 The changes in fair value of the Convertible Note during the three months ended July 27, 2024 are as follows: Liability Component (in thousands) Balance as of April 27, 2024 $ 41,550 Redemption of convertible promissory note — Fair value change recognized 21,590 Balance as of July 27, 2024 $ 63,140
Fair Value Measurement Inputs and Valuation Techniques	We determined the fair value by using the following key assumptions in the binomial lattice model: Risk-Free Rate (Annual) 4.19 % Implied Yield 15.98 % Volatility (Annual) 45.00 % Dividend Yield (Annual) — %
Schedule of Maturities of Long-Term Debt	Aggregate contractual maturities of debt in future fiscal years are as follows: Fiscal years ending Amount Remainder of 2025 $ 1,125 2026 1,500 2027 10,875 2028 25,000 2029 — Total debt $ 38,500

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Jul. 27, 2024
Commitments and Contingencies Disclosure [Abstract]
Schedule of Product Warranty Liability	Warranties: Changes in our warranty obligation for the three months ended July 27, 2024 consisted of the following: July 27, Balance as of April 27, 2024 $ 37,928 Warranties issued during the period 4,017 Settlements made during the period (3,519) Changes in accrued warranty obligations for pre-existing warranties during the period, including expirations 449 Balance as of July 27, 2024 $ 38,875

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	3 Months Ended
	Jul. 27, 2024
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 as of July 27, 2024 and April 27, 2024 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 July 27, 2024 Cash and cash equivalents $ 96,809 $ — $ — $ 96,809 Restricted cash 379 — — 379 Convertible note — — (63,140) (63,140) $ 97,188 $ — $ (63,140) $ 34,048 Balance as of April 27, 2024 Cash and cash equivalents $ 81,299 $ — $ — $ 81,299 Restricted cash 379 — — 379 Convertible note — — (41,550) (41,550) $ 81,678 $ — $ (41,550) $ 40,128

Basis of Presentation - Schedul

Basis of Presentation - Schedule of Cash and Cash Equivalents (Details) - USD ($) $ in Thousands	Jul. 27, 2024	Apr. 27, 2024	Jul. 29, 2023	Apr. 29, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash and cash equivalents	$ 96,809	$ 81,299	$ 45,775
Restricted cash	379	379	8,575
Total cash, cash equivalents, and restricted cash shown in the condensed consolidated statements of cash flows	$ 97,188	$ 81,678	$ 54,350	$ 24,690

Basis of Presentation (Details

Basis of Presentation (Details Textual) - USD ($) $ in Thousands	Jul. 27, 2024	Apr. 27, 2024	Jul. 29, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash and cash equivalents	$ 96,809	$ 81,299	$ 45,775
Cash and cash equivalents denominated in U.S. dollars	81,246
Cash and cash equivalents held by foreign subsidiaries	1,649
Additional cash balances denominated in foreign currencies	15,563
Additional cash balances denominated in foreign currencies, maintained by foreign subsidiaries	$ 10,922

Investments in Affiliates (Deta

Investments in Affiliates (Details Textual) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Jul. 27, 2024	Jul. 29, 2023	Apr. 27, 2024
Schedule of Investments [Line Items]
Equity method investments	$ 893		$ 1,813
Income (loss) from equity method investments	(931)	$ (690)
Equity method investment, other-than-temporary impairment	0	442
Accounts payable	123	2
Amount invested	933	1,186
Purchase of convertible notes	15,371		14,241
Convertible note and investment in affiliates, amount	$ 16,264		16,054
Miortech
Schedule of Investments [Line Items]
Ownership percentage	55.90%
XdisplayTM
Schedule of Investments [Line Items]
Ownership percentage	16.40%
Convertible note
Schedule of Investments [Line Items]
Payments to fund long-term loans to related parties	$ 958
Amount invested			$ 5,050
Product Design and Development
Schedule of Investments [Line Items]
Related party transaction, amounts of transaction	$ 223	$ 78

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
	Jul. 27, 2024	Jul. 29, 2023
Earnings per share - basic
Net (loss) income	$ (4,946)	$ 19,196
Weighted average common shares outstanding (in shares)	46,311	45,645
Basic earnings (loss) per share (in usd per share)	$ (0.11)	$ 0.42
Earnings per share - diluted
Net (loss) income	$ (4,946)	$ 19,196
Diluted net (loss) income	$ (4,946)	$ 19,196
Weighted average common shares outstanding (in shares)	46,311	45,645
Dilution associated with stock compensation plans (in shares)	0	553
Dilution associated with convertible notes (in shares)	0	0
Weighted average common shares outstanding, assuming dilution (in shares)	46,311	46,198
Diluted earnings (loss) per share (in usd per share)	$ (0.11)	$ 0.42

Earnings Per Share ("EPS") (Det

Earnings Per Share ("EPS") (Details Textual) - USD ($) $ / shares in Units, shares in Thousands	3 Months Ended
	Jul. 27, 2024	Jul. 29, 2023	May 11, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	161	1,326
Antidilutive securities excluded from computation of earnings per share, weighted average exercise price (in usd per share)	$ 12.52	$ 8.97
Convertible note
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	4,037	3,549
Debt instrument, face amount			$ 25,000,000

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 27, 2024	Jul. 29, 2023
Disaggregation of Revenue [Line Items]
Net sales	$ 226,088	$ 232,531
Goods/services transferred at a point in time
Disaggregation of Revenue [Line Items]
Net sales	92,344	94,986
Goods/services transferred over time
Disaggregation of Revenue [Line Items]
Net sales	133,744	137,545
Unique configuration
Disaggregation of Revenue [Line Items]
Net sales	124,364	125,958
Limited configuration
Disaggregation of Revenue [Line Items]
Net sales	84,423	93,517
Service and other
Disaggregation of Revenue [Line Items]
Net sales	17,301	13,056
Commercial
Disaggregation of Revenue [Line Items]
Net sales	34,199	46,883
Commercial | Goods/services transferred at a point in time
Disaggregation of Revenue [Line Items]
Net sales	29,513	31,018
Commercial | Goods/services transferred over time
Disaggregation of Revenue [Line Items]
Net sales	4,686	15,865
Commercial | Unique configuration
Disaggregation of Revenue [Line Items]
Net sales	2,262	12,918
Commercial | Limited configuration
Disaggregation of Revenue [Line Items]
Net sales	26,300	29,913
Commercial | Service and other
Disaggregation of Revenue [Line Items]
Net sales	5,637	4,052
Live Events
Disaggregation of Revenue [Line Items]
Net sales	108,608	91,999
Live Events | Goods/services transferred at a point in time
Disaggregation of Revenue [Line Items]
Net sales	10,750	10,777
Live Events | Goods/services transferred over time
Disaggregation of Revenue [Line Items]
Net sales	97,858	81,222
Live Events | Unique configuration
Disaggregation of Revenue [Line Items]
Net sales	94,318	76,547
Live Events | Limited configuration
Disaggregation of Revenue [Line Items]
Net sales	8,294	9,961
Live Events | Service and other
Disaggregation of Revenue [Line Items]
Net sales	5,996	5,491
High School Park and Recreation
Disaggregation of Revenue [Line Items]
Net sales	48,006	56,234
High School Park and Recreation | Goods/services transferred at a point in time
Disaggregation of Revenue [Line Items]
Net sales	35,379	39,081
High School Park and Recreation | Goods/services transferred over time
Disaggregation of Revenue [Line Items]
Net sales	12,627	17,153
High School Park and Recreation | Unique configuration
Disaggregation of Revenue [Line Items]
Net sales	10,634	15,119
High School Park and Recreation | Limited configuration
Disaggregation of Revenue [Line Items]
Net sales	35,148	40,337
High School Park and Recreation | Service and other
Disaggregation of Revenue [Line Items]
Net sales	2,224	778
Transportation
Disaggregation of Revenue [Line Items]
Net sales	22,490	21,369
Transportation | Goods/services transferred at a point in time
Disaggregation of Revenue [Line Items]
Net sales	7,561	8,267
Transportation | Goods/services transferred over time
Disaggregation of Revenue [Line Items]
Net sales	14,929	13,102
Transportation | Unique configuration
Disaggregation of Revenue [Line Items]
Net sales	14,536	12,584
Transportation | Limited configuration
Disaggregation of Revenue [Line Items]
Net sales	6,609	8,067
Transportation | Service and other
Disaggregation of Revenue [Line Items]
Net sales	1,345	718
International
Disaggregation of Revenue [Line Items]
Net sales	12,785	16,046
International | Goods/services transferred at a point in time
Disaggregation of Revenue [Line Items]
Net sales	9,141	5,843
International | Goods/services transferred over time
Disaggregation of Revenue [Line Items]
Net sales	3,644	10,203
International | Unique configuration
Disaggregation of Revenue [Line Items]
Net sales	2,614	8,790
International | Limited configuration
Disaggregation of Revenue [Line Items]
Net sales	8,072	5,239
International | Service and other
Disaggregation of Revenue [Line Items]
Net sales	$ 2,099	$ 2,017

Revenue Recognition - Contract

Revenue Recognition - Contract with Customer, Contract Asset, Contract Liability, and Receivable (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 27, 2024	Apr. 27, 2024
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contract assets	$ 54,129	$ 55,800
Contract liabilities - current	71,782	65,524
Contract liabilities - noncurrent	17,378	$ 16,342
Dollar Change
Contract assets	(1,671)
Contract liabilities - current	6,258
Contract liabilities - noncurrent	$ 1,036
Percent Change
Contract assets	(3.00%)
Contract liabilities - current	9.60%
Contract liabilities - noncurrent	6.30%
Service-type Warranty Contracts
Changes in Unearned Service-Type Warranty Contract [Roll Forward]
Balance at beginning of period	$ 32,159
New contracts sold	12,269
Less: reductions for revenue recognized	(10,188)
Foreign currency translation and other	(485)
Balance at ending of period	$ 33,755

Revenue Recognition (Details Te

Revenue Recognition (Details Textual)	3 Months Ended
	Jul. 27, 2024 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Impairment, contract assets	$ 0
Recognized revenue	39,918,000
Revenue, remaining performance obligation	332,665,000
Product
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	267,207,000
Service
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	65,458,000
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-28
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 268,362,000
Revenue, remaining performance obligation, expected timing of satisfaction, period	12 months

Segment Reporting (Details Text

Segment Reporting (Details Textual)	3 Months Ended
	Jul. 27, 2024 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
	Jul. 27, 2024	Jul. 29, 2023
Disaggregation of Revenue [Line Items]
Net sales	$ 226,088	$ 232,531
Gross profit:	59,698	71,147
Selling	15,636	12,929
General and administrative	11,723	9,599
Product design and development	9,623	8,403
Operating expenses:	36,982	30,931
Operating income	22,716	40,216
Interest (expense) income, net	(71)	(881)
Change in fair value of convertible note	(21,590)	(7,260)
Other expense and debt issuance costs write-off, net	(835)	(3,979)
Income before income taxes	220	28,096
Depreciation and amortization:	4,893	4,669
Corporate, non-segment
Disaggregation of Revenue [Line Items]
Depreciation and amortization:	1,085	818
Commercial
Disaggregation of Revenue [Line Items]
Net sales	34,199	46,883
Commercial | Operating segments
Disaggregation of Revenue [Line Items]
Net sales	34,199	46,883
Gross profit:	7,595	12,769
Depreciation and amortization:	1,082	1,042
Live Events
Disaggregation of Revenue [Line Items]
Net sales	108,608	91,999
Live Events | Operating segments
Disaggregation of Revenue [Line Items]
Net sales	108,608	91,999
Gross profit:	26,028	27,940
Depreciation and amortization:	1,429	1,613
High School Park and Recreation
Disaggregation of Revenue [Line Items]
Net sales	48,006	56,234
High School Park and Recreation | Operating segments
Disaggregation of Revenue [Line Items]
Net sales	48,006	56,234
Gross profit:	17,316	20,825
Depreciation and amortization:	533	462
Transportation
Disaggregation of Revenue [Line Items]
Net sales	22,490	21,369
Transportation | Operating segments
Disaggregation of Revenue [Line Items]
Net sales	22,490	21,369
Gross profit:	7,749	7,089
Depreciation and amortization:	202	168
International
Disaggregation of Revenue [Line Items]
Net sales	12,785	16,046
International | Operating segments
Disaggregation of Revenue [Line Items]
Net sales	12,785	16,046
Gross profit:	1,010	2,524
Depreciation and amortization:	$ 562	$ 566

Segment Reporting - Schedule _2

Segment Reporting - Schedule of Revenue From External Customers, By Geographical Areas (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 27, 2024	Jul. 29, 2023
Disaggregation of Revenue [Line Items]
Net sales	$ 226,088	$ 232,531
United States
Disaggregation of Revenue [Line Items]
Net sales	207,219	214,593
Outside United States
Disaggregation of Revenue [Line Items]
Net sales	$ 18,869	$ 17,938

Segment Reporting - Schedule _3

Segment Reporting - Schedule of Revenue From Long-lived Assets, By Geographic Areas (Details) - USD ($) $ in Thousands	Jul. 27, 2024	Apr. 27, 2024
Revenues from External Customers and Long-Lived Assets [Line Items]
Property and equipment, net of accumulated depreciation:	$ 73,613	$ 71,752
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Property and equipment, net of accumulated depreciation:	66,168	64,332
Outside United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Property and equipment, net of accumulated depreciation:	$ 7,445	$ 7,420

Goodwill - Schedule of Goodwill

Goodwill - Schedule of Goodwill (Details) $ in Thousands	3 Months Ended
	Jul. 27, 2024 USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 3,226
Foreign currency translation	(29)
Ending balance	3,197
Commercial
Goodwill [Roll Forward]
Beginning balance	3,188
Foreign currency translation	(23)
Ending balance	3,165
Transportation
Goodwill [Roll Forward]
Beginning balance	38
Foreign currency translation	(6)
Ending balance	$ 32

Goodwill (Details Textual)

Goodwill (Details Textual) $ in Thousands	Jul. 27, 2024 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill, impaired, accumulated impairment loss	$ 4,576

Financing Agreements - Schedule

Financing Agreements - Schedule of Long-Term Debt Instruments (Details) - USD ($) $ in Thousands	Jul. 27, 2024	Apr. 27, 2024
Debt Instrument [Line Items]
Long-term debt, gross	$ 38,500	$ 38,875
Debt issuance costs, net	(668)	(761)
Change in fair value of convertible note	38,140	16,550
Current portion	(1,500)	(1,500)
Long-term debt, net	74,472	53,164
Mortgage
Debt Instrument [Line Items]
Long-term debt, gross	13,500	13,875
Convertible note
Debt Instrument [Line Items]
Long-term debt, gross	$ 25,000	$ 25,000

Financing Agreements (Details T

Financing Agreements (Details Textual) - USD ($)			3 Months Ended
	Jul. 07, 2023	May 11, 2023	Jul. 27, 2024	Jul. 29, 2023	Apr. 27, 2024
Line of Credit Facility [Line Items]
Debt issuance costs, net			$ 2,220,000		$ 2,530,000
Debt issuance costs write-off			$ 0	$ 3,353,000
Convertible note
Line of Credit Facility [Line Items]
Debt instrument, face amount		$ 25,000,000
Debt instrument, term			2 years
Interest rate, stated percentage		9%
Conversion price (in usd per share)		$ 6.31
Interest coverage ratio		1.1
Debt issuance costs, net		$ 8,195,000
Debt issuance costs write-off				3,353,000
Amortization of debt issuance cost			$ 403,000	$ 328,000
Remaining debt issuance cost			2,888,000
Convertible note | Minimum
Line of Credit Facility [Line Items]
Interest rate, stated percentage		10%
Convertible note | Maximum
Line of Credit Facility [Line Items]
Interest rate, stated percentage		12%
Credit Agreements | ABL credit facility/prior line of credit
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity		$ 75,000,000
Letters of credit outstanding			$ 5,343,000
Credit Agreements | Secured Debt
Line of Credit Facility [Line Items]
Debt instrument, face amount	$ 15,000,000
Debt instrument, term	10 years
Debt instrument, periodic payment	$ 125,000
Interest rate, stated percentage			9.50%
Credit Agreements | Secured Debt | Minimum
Line of Credit Facility [Line Items]
Interest rate, stated percentage	1%
Credit Agreements | Secured Debt | Maximum
Line of Credit Facility [Line Items]
Interest rate, stated percentage	2%
Revolving Credit Facility | Credit Agreements | ABL credit facility/prior line of credit
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity		$ 60,000,000
Current borrowing capacity			$ 38,568,000
Long-term line of credit			$ 0
Revolving Credit Facility | Credit Agreements | ABL credit facility/prior line of credit | Minimum
Line of Credit Facility [Line Items]
Basis spread on variable rate		2.50%
Revolving Credit Facility | Credit Agreements | ABL credit facility/prior line of credit | Maximum
Line of Credit Facility [Line Items]
Basis spread on variable rate		3.50%

Financing Agreements - Schedu_2

Financing Agreements - Schedule of Long-Term Debt Instruments Fair Value Disclosure (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 27, 2024	Jul. 29, 2023
Debt Instrument Fair Value Disclosure [Roll Forward]
Beginning balance	$ 41,550
Redemption of convertible promissory note	0
Fair value change recognized	21,590	$ 7,260
Ending balance	$ 63,140

Financing Agreements - Fair Val

Financing Agreements - Fair Value Measurement Inputs and Valuation Techniques (Details) - Convertible note	Jul. 27, 2024
Risk-Free Rate (Annual)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt instrument, measurement input	0.0419
Implied Yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt instrument, measurement input	0.1598
Volatility (Annual)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt instrument, measurement input	0.4500
Dividend Yield (Annual)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt instrument, measurement input	0

Financing Agreements - Schedu_3

Financing Agreements - Schedule of Maturities of Long-Term Debt (Details) - USD ($) $ in Thousands	Jul. 27, 2024	Apr. 27, 2024
Debt Disclosure [Abstract]
Remainder of 2025	$ 1,125
2026	1,500
2027	10,875
2028	25,000
2029	0
Long-term debt, net	$ 38,500	$ 38,875

Commitments and Contingencies -

Commitments and Contingencies - Schedule of Product Warranty Liability (Details) $ in Thousands	3 Months Ended
	Jul. 27, 2024 USD ($)
Movement in Standard Product Warranty Accrual [Roll Forward]
Beginning accrued warranty obligations	$ 37,928
Warranties issued during the period	4,017
Settlements made during the period	(3,519)
Changes in accrued warranty obligations for pre-existing warranties during the period, including expirations	449
Ending accrued warranty obligations	$ 38,875

Commitments and Contingencies_2

Commitments and Contingencies (Details Textual) $ in Thousands	Jul. 27, 2024 USD ($)
Loss Contingencies [Line Items]
Guarantor obligations, term	1 year
Credit Agreements | ABL credit facility/prior line of credit
Loss Contingencies [Line Items]
Letters of credit outstanding	$ 5,343
Surety Bond
Loss Contingencies [Line Items]
Loss contingency accrual	$ 15,729

Income Taxes (Details Textual)

Income Taxes (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Jul. 29, 2023	Jul. 27, 2024
Income Tax Disclosure [Abstract]
Effective tax rate	31.70%
Unrecognized tax benefits		$ 495

Fair Value Measurement - Schedu

Fair Value Measurement - Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis (Details) - Fair Value, Recurring - USD ($) $ in Thousands	Jul. 27, 2024	Apr. 27, 2024
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	$ 96,809	$ 81,299
Restricted cash	379	379
Convertible note	(63,140)	(41,550)
Fair value, net asset (liability), total	34,048	40,128
Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	96,809	81,299
Restricted cash	379	379
Convertible note	0	0
Fair value, net asset (liability), total	97,188	81,678
Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	0	0
Restricted cash	0	0
Convertible note	0	0
Fair value, net asset (liability), total	0	0
Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	0	0
Restricted cash	0	0
Convertible note	(63,140)	(41,550)
Fair value, net asset (liability), total	$ (63,140)	$ (41,550)

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) shares in Thousands		3 Months Ended
	May 11, 2023	Jul. 27, 2024	Jun. 07, 2023	May 15, 2023
Related Party Transaction [Line Items]
Threshold to be considered related party transaction		$ 120,000
Redemption of convertible promissory note		0
Convertible note
Related Party Transaction [Line Items]
Debt instrument, face amount	$ 25,000,000
Convertible Note Offering | Related Party
Related Party Transaction [Line Items]
Proceeds from convertible debt	25,000,000
Convertible Note Offering | Related Party | Daktronics
Related Party Transaction [Line Items]
Shares owner by noncontrolling owner (in shares)			2,293	4,768
Ownership percentage			4.99%	9.99%
Convertible Note Offering | Convertible note | Related Party
Related Party Transaction [Line Items]
Convertible debt	25,563,000
Debt instrument, face amount	25,000,000
Debt interest expense	563,000
Redemption of convertible promissory note	$ 375,000
Video Display Systems
Related Party Transaction [Line Items]
Related party transaction, amounts of transaction		$ 150,000