v3.26.1
Net Income (Loss) Per Share
12 Months Ended
May 02, 2026
Earnings Per Share [Abstract]  
Net Income (Loss) Per Share Net Income (Loss) Per Share
Net income (loss) per share was determined as follows for the years presented (in thousands, except per share amounts):
Year Ended
May 2, 2026
May 3, 2025
April 27, 2024
Numerator:
Net income (loss)$472,279 $52,183 $(28,369)
Denominator:
Weighted-average shares outstanding used in basic calculation178,538 167,505 155,091 
Effect of dilutive shares
Share-based compensation awards9,694 10,611 — 
Customer Warrant— 3,042 — 
Weighted-average shares outstanding used in diluted calculation188,232 181,158 155,091 
Net income (loss) per share attributable to ordinary shareholders
Basic$2.65 $0.31 $(0.18)
Diluted$2.51 $0.29 $(0.18)
Potential dilutive securities include dilutive ordinary shares from share-based awards attributable to the assumed exercise of share options, time-based and performance-based restricted share units and employee stock purchase plan shares using the treasury stock method. Under the treasury stock method, potential ordinary shares outstanding are not included in the computation of diluted net loss per share if their effect is anti-dilutive. The following potentially dilutive securities outstanding (in thousands) have been excluded from the computations of diluted weighted average shares outstanding for the years ended May 2, 2026, May 3, 2025 and April 27, 2024:
Year Ended
May 2, 2026May 3, 2025April 27, 2024
Share-based compensation awards609 3,349 16,777 
Customer Warrant— — 4,080 
609 3,349 20,857