v3.25.2
Customer-Funded Research & Development
3 Months Ended
Aug. 02, 2025
Customer-Funded Research & Development  
Customer-Funded Research & Development

13. Customer-Funded Research & Development

Customer-funded R&D costs are incurred pursuant to contracts (revenue arrangements) to perform R&D activities according to customer specifications. These costs are direct contract costs and are expensed to cost of sales as costs are incurred. Revenue from customer-funded R&D contracts is recognized in accordance with ASC 606 over time as costs are incurred. Revenue from customer-funded R&D was approximately $60,847,000 for the three months ended August 2, 2025. Revenue from customer-funded R&D was approximately $18,559,000 for the three months ended July 27, 2024.