Schedule of segment results |
Prior period segment information has been revised to align with the new segment measure of profitability. | | | | | | | | | | | | Three Months Ended August 2, 2025 | | | AxS | | SCDE | | Total | Revenue: | | | | | | | | | | Product sales | | $ | 240,744 | | $ | 72,789 | | | | Contract services | | | 44,580 | | | 96,563 | | | | | | | 285,324 | | | 169,352 | | | | Less: | | | | | | | | | | Cost of sales less intangible amortization and other purchase accounting adjustments | | | 175,047 | | | 147,132 | | | | Intangible amortization included in cost of sales | | | 21,982 | | | 15,397 | | | | Sales and marketing | | | 29,256 | | | 27,568 | | | | General and administrative less intangible amortization | | | 30,486 | | | 1,663 | | | | Intangible amortization included in SG&A | | | 11,125 | | | 31,178 | | | | Research and development | | | 29,763 | | | 3,351 | | | | Add: | | | | | | | | | | Depreciation | | | 7,771 | | | 2,801 | | | | Amortization | | | 33,107 | | | 46,575 | | | | Acquisition-related expenses | | | 15,553 | | | 8,176 | | | | Amortization of cloud computing arrangement implementation | | | 747 | | | 9 | | | | Other income (expense) | | | (858) | | | 518 | | | | Stock-based compensation | | | 8,775 | | | 2,654 | | | | Segment adjusted EBITDA | | $ | 52,760 | | $ | 3,796 | | $ | 56,556 |
| | | | | | | | | | | | Three Months Ended July 27, 2024 | | | AxS | | SCDE | | Total | Revenue: | | | | | | | | | | Product sales | | $ | 159,504 | | $ | — | | | | Contract services | | | 29,979 | | | — | | | | | | | 189,483 | | | — | | | | Less: | | | | | | | | | | Cost of sales less intangible amortization and other purchase accounting adjustments | | | 104,302 | | | — | | | | Intangible amortization included in cost of sales | | | 3,714 | | | — | | | | Sales and marketing | | | 18,504 | | | | | | | General and administrative less intangible amortization | | | 14,231 | | | — | | | | Intangible amortization included in SG&A | | | 1,060 | | | — | | | | Research and development | | | 24,613 | | | — | | | | Add: | | | | | | | | | | Depreciation | | | 4,078 | | | — | | | | Amortization | | | 4,774 | | | — | | | | Acquisition-related expenses | | | — | | | — | | | | Amortization of cloud computing arrangement implementation | | | 644 | | | — | | | | Other income (expense) | | | 87 | | | — | | | | Stock-based compensation | | | 4,536 | | | — | | | | Segment adjusted EBITDA | | $ | 37,178 | | $ | — | | $ | 37,178 |
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Schedule of reconciliation from segment adjusted income from operations to income (loss) before taxes |
The following table (in thousands) provides a reconciliation from segment adjusted EBITDA to income before income taxes: | | | | | | | | | Three Months Ended | | Three Months Ended | | | August 2, | | July 27, | | | 2025 | | 2024 | Segment adjusted EBITDA | | $ | 56,556 | | $ | 37,178 | Depreciation and amortization | | | (90,254) | | | (8,852) | Acquisition-related expenses | | | (23,729) | | | — | Amortization of cloud computing arrangement implementation | | | (756) | | | (644) | Stock-based compensation | | | (11,429) | | | (4,536) | Equity securities investments activity, net | | | 2,701 | | | (321) | Interest expense | | | (17,415) | | | (239) | (Loss) income before income taxes | | $ | (84,326) | | $ | 22,586 |
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Schedule of segment assets and capital expenditures by segment |
| | | | | | | | | | | | | | | AxS | | SCDE | | Corporate | | Total | As of August 2, 2025 | | $ | 2,219,426 | | $ | 2,360,843 | | $ | 1,043,768 | | $ | 5,624,037 | As of April 30, 2025 | | $ | 872,530 | | $ | — | | $ | 248,037 | | $ | 1,120,567 |
Capital expenditures are summarized in the table below (in thousands): | | | | | | | | | | | | | | | AxS | | SCDE | | Corporate | | Total | Three Months Ended August 2, 2025 | | $ | 15,178 | | $ | 16,437 | | $ | 453 | | $ | 32,068 | Three Months Ended July 27, 2024 | | $ | 4,573 | | $ | — | | $ | 857 | | $ | 5,430 |
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