v3.24.2
Income Taxes (Tables)
 12 Months Ended
Apr. 28, 2024
Income Tax Disclosure [Abstract]  
Schedule of Income tax expense
The components of income tax expense are as follows:
April 28, 2024April 30, 2023
Current:
     State and local$36 $192 
Total current$36 192 
Income tax expense$36 $192 
Schedule of Effective Income Tax Rate Reconciliation
The income tax provision attributable to net income (loss) differed from the amounts computed by applying the U.S. federal income tax rate of 21% to income (loss) before income tax for the fiscal years ended April 28, 2024 and April 30, 2023 due to the following:
April 28, 2024April 30, 2023
U.S. federal provision at statutory tax rate$(1,376)$(1,540)
State income taxes, net of federal benefit884 (711)
Permanent differences295 102 
PPP loan forgiveness— (1,755)
Stock compensation— (12)
Change in fair value of warrant liabilities (5,593)— 
Return-to-provision(75)— 
Tax credits(407)(157)
Deferred adjustment1,558 — 
Change in valuation allowance4,672 4,265 
Other78 — 
Income tax expense$36 $192 
Schedule of Deferred Tax Assets and Liabilities Significant components of the Company's deferred tax assets and liabilities at April 28, 2024 and April 30, 2023 are as follows:
April 28, 2024April 30, 2023
Deferred tax assets:
Amount due to customers$550 $1,474 
Operating lease liabilities29,718 28,481 
Section 163(j) limitation3,059 1,481 
Net operating losses20,890 14,961 
Tax credits4,735 4,328 
Other accrued liabilities65 97 
Stock compensation552 271 
Other3 3 
Deferred tax assets$59,572 $51,096 
Valuation allowance(47,693)(43,021)
Net deferred tax assets$11,879 $8,075 
Deferred tax liabilities:
Property and equipment$(2,568)$(2,597)
Operating lease right-of-use assets(9,311)(5,478)
Total deferred tax liabilities(11,879)(8,075)
Net deferred tax liabilities$— $—