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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Apr. 27, 2024
Apr. 29, 2023
Apr. 30, 2022
Cash flows from operating activities:      
Net loss $ (28,369) $ (16,547) $ (22,176)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 13,771 9,514 4,793
Share-based compensation 39,022 23,516 9,188
Warrant contra revenue 3,925 1,220 640
Write-downs for excess and obsolete inventory 4,354 5,693 1,444
Impairment of assets 765 2,407 4,887
Changes in operating assets and liabilities      
Accounts receivable (10,121) (20,017) (15,879)
Inventories 15,762 (24,379) (21,677)
Contract assets (12,117) 1,609 (4,673)
Prepaid and other current assets (7,719) 512 2,808
Other non-current assets (654) (7,977) (1,654)
Accounts payable 8,806 (3,843) 4,748
Accrued expenses, compensation and other liabilities 5,703 491 9,601
Deferred revenue (391) 3,186 (2,882)
Net cash provided by (used in) operating activities 32,737 (24,615) (30,832)
Cash flows from investing activities:      
Purchases of property and equipment (15,652) (21,713) (17,580)
Purchases of short-term investments (403,587) (159,228) 0
Maturities of short-term investments 169,754 50,000 0
Net cash used in investing activities (249,485) (130,941) (17,580)
Cash flows from financing activities:      
Proceeds from issuance of ordinary shares in connection with public offering, net of offering costs 173,431 0 194,205
Payments on technology license obligations (3,052) (616) 0
Proceeds from employee share incentive plans 7,055 5,501 2,731
Tax withheld related to RSU settlement (2,158) 0 0
Proceeds from issuance of convertible preferred shares, net of issuance costs 0 0 7,245
Net cash provided by financing activities 175,276 4,885 204,181
Effect of exchange rate changes on cash (169) (68) (204)
Net increase (decrease) in cash and cash equivalents (41,641) (150,739) 155,565
Cash and cash equivalents at beginning of the year 108,583 259,322 103,757
Cash and cash equivalents at end of the year 66,942 108,583 259,322
Supplemental cash flow information:      
Income taxes paid (1,054) (1,204) (427)
Purchases of property and equipment included in accounts payable, accrued expenses and other liabilities 8,287 10,909 168
Conversion of convertible preferred shares into ordinary shares upon initial public offering $ 0 $ 0 $ 205,210