v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
May 02, 2026
May 03, 2025
Apr. 27, 2024
Cash flows from operating activities:      
Net income (loss) $ 472,279 $ 52,183 $ (28,369)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization 34,637 21,938 13,771
Amortization of acquired intangible assets 400 0 0
Share-based compensation 182,638 77,355 39,022
Warrant contra revenue 0 13,186 3,925
Write-downs for excess and obsolete inventory 15,116 7,952 4,354
Impairment of assets 1,500 873 765
Changes in operating assets and liabilities      
Accounts receivable (70,798) (102,482) (10,121)
Inventories (174,036) (70,470) 15,762
Other current assets (44,801) 4,596 (19,836)
Other non-current assets (26,453) 2,089 (654)
Accounts payable 48,752 41,930 8,806
Accrued compensation and benefits, other current liabilities and other non-current liabilities 25,058 15,933 5,312
Net cash provided by operating activities 464,292 65,083 32,737
Cash flows from investing activities:      
Purchases of property and equipment (57,296) (36,061) (15,652)
Purchases of short-term investments (393,334) (258,726) (403,587)
Maturities of short-term investments 310,010 406,777 169,754
Business acquisitions, net of cash acquired (112,908) 0 0
Net cash provided by (used in) investing activities (253,528) 111,990 (249,485)
Cash flows from financing activities:      
Proceeds from issuance of ordinary shares in connection with public offerings, net of offering costs 736,327 0 173,431
Payments on technology license obligations (6,624) (6,306) (3,052)
Proceeds from equity incentive plans 7,083 7,831 7,055
Tax withheld related to RSU settlement (19,157) (9,253) (2,158)
Net cash provided by (used in) financing activities 717,629 (7,728) 175,276
Effect of exchange rate changes on cash 231 41 (169)
Net increase (decrease) in cash and cash equivalents 928,624 169,386 (41,641)
Cash and cash equivalents at beginning of the year 236,328 66,942 108,583
Cash and cash equivalents at end of the year 1,164,952 236,328 66,942
Supplemental cash flow information:      
Income taxes paid 2,472 1,447 1,054
Purchases of property and equipment included in accounts payable, other current liabilities and other non-current liabilities $ 16,106 $ 8,877 $ 8,287