v3.25.2
Revenue Recognition
 3 Months Ended
Aug. 02, 2025
Revenue from Contract with Customer [Abstract]  
Revenue Recognition Revenue Recognition
Disaggregation of revenue
In accordance with ASC 606-10-50, Revenue from Contracts with Customers, we disaggregate revenue based on the nature of the performance obligations and the timing of revenue recognition. This approach is intended to meet the disclosure objective of depicting how the nature, amount, timing, and uncertainty of revenue and cash flows are influenced by economic factors. It also enables users of the financial statements to understand the relationship between revenue streams and each of our reportable segments.

The following table presents our disaggregated revenue by segment:
Three Months Ended August 2, 2025
CommercialLive Events
High School
Park and Recreation
TransportationInternationalTotal
Type of performance obligation
Unique configuration$8,914 $63,263 $14,897 $9,498 $6,608 $103,180 
Limited configuration31,242 9,394 41,911 4,390 8,058 94,995 
Service and other6,011 7,143 2,539 2,687 2,417 20,798 
$46,167 $79,800 $59,347 $16,575 $17,083 $218,972 
Timing of revenue recognition
Goods/services transferred at a point in time$34,069 $11,680 $41,794 $6,141 $8,903 $102,588 
Goods/services transferred over time12,098 68,120 17,553 10,434 8,180 116,385 
$46,167 $79,800 $59,347 $16,575 $17,083 $218,972 
Three Months Ended July 27, 2024
CommercialLive Events
High School
Park and Recreation
TransportationInternationalTotal
Type of performance obligation
Unique configuration$2,262 $94,318 $10,634 $14,536 $2,614 $124,364 
Limited configuration26,300 8,294 35,148 6,609 8,072 84,423 
Service and other5,637 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 time4,686 97,858 12,627 14,929 3,644 133,744 
$34,199 $108,608 $48,006 $22,490 $12,785 $226,088 
See "Note 5. Segment Reporting" for a disaggregation of revenue by geography.
Contract balances
Contract assets represent revenue recognized for performance obligations satisfied but not yet billed, and include unbilled receivables. Unbilled receivables reflect an unconditional right to payment that is subject only to the passage of time and are reclassified to accounts receivable once billed in accordance with contractual terms.

Contract liabilities represent amounts billed to customers in excess of revenue recognized to date and are recognized as revenue when the related performance obligations are satisfied.

The following table summarizes the changes in our contract assets and contract liabilities for the periods presented:
August 2,
2025		April 26,
2025		Dollar
Change		Percent
Change
Contract assets$41,879 $41,169 $710 1.7 %
Contract liabilities - current83,408 69,050 14,358 20.8 
Contract liabilities - noncurrent18,497 18,421 76 0.4 
The changes in our contract assets and contract liabilities from April 26, 2025 to August 2, 2025 were primarily driven by the timing of billing schedules and revenue recognition. These fluctuations are influenced by the contractual payment terms and the seasonal nature of the sports markets.

No significant impairments of contract assets were identified during the three months ended August 2, 2025.

For service-type warranty contracts, revenue is allocated to the related performance obligation and recognized over time, while associated costs are recognized as incurred. Earned and unearned revenues related to these contracts are reported within the “Contract assets” and “Contract liabilities” line items in our Condensed Consolidated Balance Sheets.

The following table summarizes the changes in unearned service-type warranty contracts, net, for the three months ended August 2, 2025:
August 2,
2025
Balance as of April 26, 2025$35,129 
New contracts sold14,020 
Less: reductions for revenue recognized(13,293)
Foreign currency translation and other1,169 
Balance as of August 2, 2025$37,025 
Contracts in progress identified as loss contracts as of August 2, 2025 and April 26, 2025 were immaterial. Provisions for such losses are recorded in the “Accrued expenses” line item in our Condensed Consolidated Balance Sheets.
During the three months ended August 2, 2025, we recognized $44,800 of revenue that was previously recorded as contract liabilities as of April 26, 2025.
Remaining performance obligations
As of August 2, 2025, the aggregate amount of the transaction price allocated to the remaining performance obligations was $426,675. This consists of $360,275 related to product agreements and $66,400 related to service agreements. We expect approximately $369,420 of these obligations to be recognized as revenue within the next 12 months, with the remainder recognized thereafter.
While remaining performance obligations represent legally binding business commitments, they are subject to change due to cancellations, deferrals, or scope adjustments. Known changes—including project cancellations, scope revisions, foreign currency exchange fluctuations, and deferrals—are reflected or excluded from the reported balance, as appropriate.
Revenue recognized during the three months ended August 2, 2025 and July 27, 2024 related to performance obligations satisfied in prior periods was immaterial.