Share Incentive Plan (Tables)

6 Months Ended

Nov. 02, 2024

Share-Based Payment Arrangement [Abstract]

Summary of Information Related to RSU Activity

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 Value	Weighted-Average Remaining Contractual Term	Aggregate Intrinsic Value (in millions)
Balances as of April 27, 2024	10,139	$16.11	1.52	$	188.2
Granted	777	$32.49
Vested	(1,481)	$12.93
Canceled/ forfeited	(540)	$20.31
Balances and expected to vest as of November 2, 2024	8,895	$17.87	1.25	$	359.6

Summary of Information Related to Share Option Activity

A summary of information related to share option activity during the six months ended November 2, 2024 is as follows:

	Options Outstanding
	Outstanding Share Options	Weighted-Average Exercise Price	Weighted-Average Remaining Contractual Term	Aggregate Intrinsic Value (in millions)
Balance as of April 27, 2024	6,421	$1.97	5.30	$	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, 2024	5,129	$2.01	4.89	$	197.1
Exercisable as of November 2, 2024	5,129	$2.01	4.89	$	197.1

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 ended				Six Months Ended
	November 2, 2024		October 28, 2023		November 2, 2024		October 28, 2023
Cost of revenue	$	331	$	250	$	612	$	439
Research and development	8,392		4,664		17,562		9,396
Selling, general and administrative	7,940		3,230		15,129		6,277
	$	16,663	$	8,144	$	33,303	$	16,112