BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Apr. 30, 2026

Schedule of components of accounts receivable, net

The following summarizes the components of our Accounts receivable, net balance presented on the Consolidated Balance Sheets for the following periods (in thousands):


	April 30, 2026		April 30, 2025
Immersion
Accounts receivable, net	$	2,112	$	2,767

Barnes & Noble Education
Trade Accounts, net		67,749		54,952
Advances for book buybacks		677		993
Credit/debit card receivables		7,535		14,991
Other receivables		40,565		27,139
		116,526		98,075
Total receivables, net	$	118,638	$	100,842

Schedule of changes to allowance for credit losses related to accounts receivable

The following summarizes the changes to the allowance for expected credit losses related to Barnes & Noble Education’s accounts receivable (in thousands):


	For the Fiscal Year Ended April 30, 2026			From June 10, 2024 to April 30, 2025
Allowance, beginning of period	$	2,148		$	—
Current period provision		3,172			4,016
Recoveries		(2,246	)		(1,868	)
Write-offs charged against allowance		(2,097	)		—
Allowance, end of period	$	977		$	2,148

Schedule of components of Property and equipment, net

The components of Property and equipment, net are as follows (in thousands):


	Useful Life	April 30, 2026			April 30, 2025
Property and equipment
Leasehold improvements	(a)	$	32,869		$	33,483
Machinery, equipment, and display fixtures	5 years		48,829			46,552
Computer hardware and capitalized software	(b)		36,789			33,184
Office furniture and others	5 - 7 years		14,848			13,406
Construction in progress			1,767			1,698
Total property and equipment			135,102			128,323
Less: Accumulated depreciation and amortization			(66,885	)		(32,508	)
Total property and equipment, net		$	68,217		$	95,815

(a)

Leasehold improvements are capitalized and depreciated over the shorter of the lease term or the useful life of the improvements, from 5 to 15 years.

(b)

System costs are capitalized and amortized over their estimated useful lives, from the date the systems become operational. Purchased software is generally amortized over a period of between 3 - 5 years.