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Segment Information
 12 Months Ended
Sep. 27, 2025
Segment Reporting [Abstract]  
Segment Information
11. Segment Information

We manage our business in two operating segments, both of which are reportable segments: (i) the Bus segment, which includes the manufacture and assembly of buses to be sold to a variety of customers across the U.S., Canada, and in certain limited international markets; and (ii) the Parts segment, which consists primarily of the purchase of parts from third parties to be sold to dealers within the Company’s network and certain large fleet customers.

Our chief operating decision maker ("CODM") is our President and CEO. The CODM primarily uses net sales and gross profit to evaluate segment performance, allocate resources, and make operating decisions as these metrics align with the Company's mission to deliver profitable growth to our stockholders over time. Specifically, net sales is utilized to evaluate the effectiveness of the Company's sales functions in obtaining a fair price for the significant value that our products offer and ensuring that the sales prices charged for our products appropriately consider changes in the costs we incur to procure inventory for the products we offer. Gross profit is utilized to evaluate the effectiveness of the Company's purchasing functions in controlling the costs we incur in procuring inventory and the effectiveness and efficiency of the Company's manufacturing operations in converting inventory into finished
products. The CODM does not utilize segment asset information to evaluate performance and make resource allocation decisions, primarily because the Parts segment operates as a distributor and accordingly, does not have a significant amount of assets. Therefore, disclosures of assets for the segments are not provided. The accounting policies of the reportable segments are the same as those applied in the consolidated financial statements, as described in Note 2.

Significant reportable segment information provided to and used by the CODM in assessing performance and allocating resources is as follows:
(in thousands)202520242023
Bus segment
Net sales (1)
$1,377,125 $1,242,885 $1,034,625 
Cost of goods sold
1,125,377 1,039,094 943,622 
Segment gross profit
$251,748 $203,791 $91,003 
Parts segment
Net sales (1)
$102,974 $104,269 $98,168 
Cost of goods sold
51,209 51,904 50,321 
Segment gross profit
$51,765 $52,365 $47,847 

(1)    Parts segment net sales includes $6.9 million, $9.3 million, and $5.6 million for fiscal 2025, fiscal 2024 and fiscal 2023, respectively, related to inter-segment sales of parts that was eliminated by the Bus segment upon consolidation

The following table is a reconciliation of segment gross profit to consolidated income before income taxes for the fiscal years presented:
(in thousands)202520242023
Bus segment gross profit
$251,748 $203,791 $91,003 
Parts segment gross profit
51,765 52,365 47,847 
Segment gross profit303,513 256,156 138,850 
Adjustments:
Selling, general and administrative expenses(136,347)(116,825)(87,193)
Interest expense(7,202)(10,579)(18,012)
Interest income6,194 4,136 1,004 
Other income (expense), net
3,406 (4,394)(8,307)
Loss on debt refinancing or modification
— (1,558)(537)
Income before income taxes
$169,564 $126,936 $25,805 

Sales are attributable to geographic areas based on customer location and were as follows for the fiscal years presented:
(in thousands)202520242023
United States$1,314,401 $1,199,527 1,048,279 
Canada163,665 146,609 78,907 
Rest of world2,033 1,018 5,607 
Total net sales$1,480,099 $1,347,154 1,132,793