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Share Incentive Plan
 6 Months Ended
Nov. 02, 2024
Share-Based Payment Arrangement [Abstract]  
Share Incentive Plan Share Incentive Plan
Restricted Stock Unit (RSU) Awards
A summary of information related to RSU activity during the six months ended November 2, 2024 is as follows:
RSUs Outstanding
Number of Shares (in thousands)
Weighted-Average Grant Date Fair ValueWeighted-Average Remaining Contractual Term
Aggregate Intrinsic Value (in millions)
Balances as of April 27, 202410,139$16.111.52$188.2 
Granted777$32.49
Vested(1,481)$12.93
Canceled/ forfeited(540)$20.31
Balances and expected to vest as of November 2, 20248,895$17.871.25$359.6 
Share Option Awards
A summary of information related to share option activity during the six months ended November 2, 2024 is as follows:
Options Outstanding
Outstanding Share OptionsWeighted-Average Exercise PriceWeighted-Average Remaining Contractual Term
Aggregate Intrinsic Value (in millions)
Balance as of April 27, 20246,421$1.975.30$106.5 
Options vested and exercised(1,279)$1.80
Options canceled/ forfeited(13)$4.58
Balance and expected to vest as of November 2, 20245,129$2.014.89$197.1 
Exercisable as of November 2, 20245,129$2.014.89$197.1 
Employee Stock Purchase Plan (ESPP)
The Company issued 139 thousand shares during the six months ended November 2, 2024 and 205 thousand shares during the six months ended October 28, 2023, under the ESPP.
Summary of Share-based Compensation Expense
The following table summarizes share-based compensation expense included in the unaudited condensed consolidated statements of operations (in thousands):
Three months endedSix Months Ended
November 2, 2024October 28, 2023November 2, 2024October 28, 2023
Cost of revenue$331 $250 $612 $439 
Research and development8,392 4,664 17,562 9,396 
Selling, general and administrative7,940 3,230 15,129 6,277 
$16,663 $8,144 $33,303 $16,112