v3.26.1
Income Taxes (Tables)
 12 Months Ended
May 02, 2026
Income Tax Disclosure [Abstract]  
Schedule of Income before Income Tax, Domestic and Foreign
The following tables reflect the significant components of our income tax provision. The pretax income (loss) attributable to domestic and foreign operations was as follows:
Year Ended
May 2, 2026April 26, 2025April 27, 2024
Domestic$47,731 $(13,407)$46,763 
Foreign10,603 7,556 7,288 
Income (loss) before income taxes
$58,334 $(5,851)$54,051 
Schedule of Components of Income Tax Expense (Benefit)
Income tax expense consisted of the following:
Year Ended
May 2, 2026April 26, 2025April 27, 2024
Current:
Federal$(246)$6,819 $21,174 
State823 1,786 5,512 
Foreign2,572 1,965 1,813 
Deferred:
Federal8,709 (5,308)(8,101)
State1,392 (946)(1,045)
Foreign(292)(46)77 
$12,958 $4,270 $19,430 
Schedule of Effective Income Tax Rate Reconciliation The reconciliation of items accounting for the difference between income taxes computed at the United States federal statutory rate and the Company's effective rate for the fiscal years 2026, 2025, and 2024 is summarized as follows:
Year Ended
May 2, 2026April 26, 2025April 27, 2024
AmountPercentAmountPercentAmountPercent
Income (loss) before income taxes$58,334 $(5,851)$54,051 
Federal income tax expense at statutory rate12,250 21.0 %(1,229)21.0 %11,351 21.0 %
State and local income tax, net of federal income tax effect (a)1,750 3.0 %664 (11.3)%3,529 6.5 %
Foreign tax effects
Canada
Statutory tax rate difference between Canada and United States(96)(0.2)%(176)3.0 %(123)(0.2)%
Ontario provincial income taxes
166 0.3 %298 (5.1)%207 0.4 %
Other provincial income taxes
10 — %42 (0.7)%36 0.1 %
Other(7)— %19 (0.3)%2 — %
China
Statutory tax rate difference between China and United States263 0.5 %130 (2.2)%140 0.3 %
Other52 0.1 %42 (0.7)%19 — %
Ireland
Statutory tax rate difference between Ireland and United States(111)(0.2)%(59)1.0 %(31)(0.1)%
Changes in valuation allowance(370)(0.6)%(85)1.5 %(36)(0.1)%
Other56 0.1 %56 (1.0)%48 0.1 %
Other Foreign Jurisdictions90 0.2 %66 (1.1)%97 0.2 %
Effect of cross-border tax laws
GILTI (net of credit)21 — %72 (1.2)%63 0.1 %
Foreign-derived intangible income (FDII)
55 0.1 %(87)1.5 %(327)(0.6)%
Other3 — %— — %— — %
Tax credits
Research & Development Tax Credit(717)(1.2)%(1,003)17.1 %(1,203)(2.2)%
Other(67)(0.1)%(9)0.2 %— — %
Changes in valuation allowance(288)(0.5)%641 (11.0)%2,117 3.9 %
Nontaxable or nondeductible items
Meals & entertainment
325 0.5 %305 (5.2)%270 0.5 %
Stock options
(681)(1.2)%(853)14.6 %(178)(0.3)%
Change in fair value of convertible debt
— — %4,729 (80.9)%3,476 6.4 %
IRC Section 162(m) limitation
143 0.2 %142 (2.4)%— — %
Debt issuance costs amortization
— — %425 (7.4)%— — %
Other105 0.1 %44(0.8)%23 — %
Change in uncertain tax positions, net
Change in FIN 48 Reserve33 0.1 %90(1.5)%(35)(0.1)%
Other Reconciling Adjustments(27)— %6(0.1)%(15)— %
Effective Tax Rate
12,958 22.2 %4,270 (73.0)%19,430 35.9 %
(a) For the year ended May 2, 2026, state taxes in California, Florida, Maryland, Minnesota, New York, Pennsylvania and Wisconsin made up the majority (greater than 50 percent) of the tax effect in this category. For the year ended April 26, 2025, state taxes in California, Minnesota, and Texas made up the majority (greater than 50 percent) of the tax effect in this
category. For the year ended April 27, 2024, state taxes in California, Massachusetts, Minnesota, New Jersey, New York, Pennsylvania and Wisconsin made up the majority (greater than 50 percent) of the tax effect in this category.
Schedule of Income Taxes Paid, Net of Refunds
Cash paid for income taxes, net of refunds, received for fiscal years 2026, 2025, and 2024 was as follows:
Year Ended
May 2, 2026April 26, 2025April 27, 2024
U.S. Federal Taxes
$1,800 $12,500$19,500 
U.S. State Taxes
California306 410768 
Other U.S. States
1,178 2,7143,719 
Foreign Taxes
Canada474 418326 
Ontario, Canada371 313250 
China559 8201,194 
Other Foreign436 631695 
Total cash paid for income taxes, net of refunds$5,124 $17,806 $26,452 
Supplemental disclosures of cash flow information consisted of the following:
Year Ended
May 2, 2026April 26, 2025April 27, 2024
Cash payments for:
Interest$847 $3,066 $2,858 
Income taxes, net of refunds5,124 17,806 26,452 
Non-cash impairment charges consisted of the following:
Year Ended
May 2, 2026April 26, 2025April 27, 2024
Non-cash impairment charges:
Equity investees impairment$— $— $6,359 
Total non-cash impairment charges$— $— $6,359 
Schedule of Deferred Tax Assets and Liabilities
The components of the net deferred tax assets were as follows:
May 2, 2026April 26, 2025
Deferred tax assets:
Accrued warranty obligations$9,057 $8,819 
Vacation accrual2,546 2,443 
Deferred maintenance revenue1,173 998 
Allowance for excess and obsolete inventory3,366 3,590 
General reserve281 628 
Equity compensation498 282 
Allowance for credit losses accounts379 4,242 
Inventory capitalization1,861 3,115 
Accrued compensation and benefits950 942 
Capital loss carry forwards
3,700 — 
Unrealized loss on foreign currency exchange82 — 
Net operating loss carry forwards754 862 
Outside basis difference in equity method investments2,998 7,030 
Section 174 Capitalization8,123 12,840 
Research and development tax credit carry forwards81 76 
Lease accounting - lease liability1,079 1,250 
Other640 646 
Total deferred tax assets37,568 47,763 
Valuation allowance(7,214)(7,887)
Net deferred tax assets30,354 39,876 
Deferred tax liabilities:
Property and equipment(5,184)(5,904)
Deferred software implementation costs(1,061)— 
Lease accounting - right of use asset(1,058)(1,250)
Prepaid expenses(641)(557)
Unrealized gain on foreign currency exchange— (146)
Other(166)— 
Total deferred tax liabilities(8,110)(7,857)
Net deferred tax asset$22,244 $32,019 

The classification of the net deferred tax assets in the accompanying Consolidated Balance Sheets is:
May 2, 2026April 26, 2025
Non-current assets$22,266 $32,104 
Non-current liabilities(22)(85)
$22,244 $32,019 
Schedule of Unrecognized Tax Benefits Roll Forward
The summary of changes in the amounts related to unrecognized uncertain tax benefits are:
May 2, 2026April 26, 2025
Balance at beginning of year$446 $356 
Gross increases related to prior period tax positions30 24 
Gross decreases related to prior period tax positions(19)(22)
Gross increases related to current period tax positions91 122 
Lapse of statute of limitations(69)(34)
Balance at end of year$479 $446