Segments (Tables)

9 Months Ended

Jan. 31, 2026

Schedule of segment results

Prior period segment information has been revised to align with the new segment measure of profitability


		Three Months Ended January 31, 2026
		AxS			SCDE			Total
Revenue:
Product sales		$	222,724		$	55,090		$	277,814
Contract services			56,020			74,211			130,231
			278,744			129,301			408,045
Less:
Cost of sales less intangible amortization and other purchase accounting adjustments			182,935			113,633			296,568
Intangible amortization included in cost of sales			7,104			5,579			12,683
SG&A less intangible amortization			44,336			23,898			68,234
Intangible amortization included in SG&A			10,035			21,145			31,180
Research and development			24,142			2,970			27,112
Impairment of goodwill			—			240,708			240,708
Add:
Depreciation			7,069			3,701			10,770
Amortization			17,139			26,724			43,863
Impairment of goodwill			—			240,708			240,708
Acquisition-related expenses			3,914			2,976			6,890
Amortization of cloud computing arrangement implementation			1,610			—			1,610
Other income (expense)			396			609			1,005
Stock-based compensation			5,847			2,223			8,070
Segment adjusted EBITDA		$	46,167		$	(1,691)		$	44,476


		Three Months Ended January 25, 2025
		AxS			SCDE			Total
Revenue:
Product sales		$	139,753		$	—		$	139,753
Contract services			27,883			—			27,883
			167,636			—			167,636
Less:
Cost of sales less intangible amortization and other purchase accounting adjustments			100,734			—			100,734
Intangible amortization included in cost of sales			3,703			—			3,703
SG&A less intangible amortization			42,712			—			42,712
Intangible amortization included in SG&A			1,075			—			1,075
Research and development			22,498			—			22,498
Add:
Depreciation			4,512			—			4,512
Amortization			4,778			—			4,778
Acquisition-related expenses			10,015			—			10,015
Amortization of cloud computing arrangement implementation			644			—			644
Other income (expense)			(478)			—			(478)
Stock-based compensation			5,381			—			5,381
Segment adjusted EBITDA		$	21,766		$	—		$	21,766


		Nine Months Ended January 31, 2026
		AxS			SCDE			Total
Revenue:
Product sales		$	712,971		$	203,413		$	916,384
Contract services			152,671			266,174			418,845
			865,642			469,587			1,335,229
Less:
Cost of sales less intangible amortization and other purchase accounting adjustments			548,629			414,275			962,904
Intangible amortization included in cost of sales			40,139			34,169			74,308
SG&A less intangible amortization			147,584			84,006			231,590
Intangible amortization included in SG&A			30,879			66,557			97,436
Research and development			86,028			10,191			96,219
Impairment of goodwill			—			240,708			240,708
Add:
Depreciation			21,542			9,674			31,216
Amortization			71,018			100,726			171,744
Impairment of goodwill			—			240,708			240,708
Acquisition-related expenses			22,667			16,209			38,876
Amortization of cloud computing arrangement implementation			3,839			10			3,849
Other income (expense)			(1,731)			1,197			(534)
Stock-based compensation			20,280			7,785			28,065
Segment adjusted EBITDA		$	149,998		$	(4,010)		$	145,988


		Nine Months Ended January 25, 2025
		AxS			SCDE			Total
Revenue:
Product sales		$	450,488		$	—		$	450,488
Contract services			95,089			—			95,089
			545,577			—			545,577
Less:
Cost of sales less intangible amortization and other purchase accounting adjustments			316,137			—			316,137
Intangible amortization included in cost of sales			11,136			—			11,136
SG&A less intangible amortization			112,287			—			112,287
Intangible amortization included in SG&A			3,211			—			3,211
Research and development			75,827			—			75,827
Add:
Depreciation			12,797			—			12,797
Amortization			14,347			—			14,347
Acquisition-related expenses			13,699			—			13,699
Amortization of cloud computing arrangement implementation			1,894			—			1,894
Other income (expense)			(428)			—			(428)
Stock-based compensation			15,518			—			15,518
Segment adjusted EBITDA		$	84,806		$	—		$	84,806

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						Nine Months Ended
		January 31,			January 25,			January 31,			January 25,
		2026			2025			2026			2025
Segment adjusted EBITDA		$	44,476		$	21,766		$	145,988		$	84,806
Depreciation and amortization			(54,633)			(9,290)			(202,960)			(27,144)
Impairment of goodwill			(240,708)			—			(240,708)			—
Acquisition-related expenses			(6,890)			(10,015)			(38,876)			(13,699)
Amortization of cloud computing arrangement implementation			(1,610)			(644)			(3,849)			(1,894)
Stock-based compensation			(8,070)			(5,381)			(28,065)			(15,518)
Equity securities investments activity, net			(1,405)			1,453			7,446			1,185
Interest expense			3,696			(248)			(9,050)			(1,177)
(Loss) income before income taxes		$	(265,144)		$	(2,359)		$	(370,074)		$	26,559

Schedule of segment assets and capital expenditures by segment


		AxS			SCDE			Corporate			Total
As of January 31, 2026		$	2,299,387		$	2,043,438		$	1,021,409		$	5,364,234
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
Nine Months Ended January 31, 2026		$	33,750		$	21,976		$	7,683		$	63,409
Nine Months Ended January 25, 2025		$	12,527		$	—		$	1,765		$	14,292