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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
May 03, 2025
Apr. 27, 2024
Apr. 29, 2023
Cash flows from operating activities:      
Net income (loss) $ 52,183 $ (28,369) $ (16,547)
Adjustments to reconcile net income (loss) to net cash used in operating activities:      
Depreciation and amortization 21,938 13,771 9,514
Share-based compensation 77,355 39,022 23,516
Warrant contra revenue 13,186 3,925 1,220
Write-downs for excess and obsolete inventory 7,952 4,354 5,693
Impairment of assets 873 765 2,407
Changes in operating assets and liabilities      
Accounts receivable (102,482) (10,121) (20,017)
Inventories (70,470) 15,762 (24,379)
Other current assets 4,596 (19,836) 2,121
Other non-current assets 2,089 (654) (7,977)
Accounts payable 41,930 8,806 (3,843)
Accrued compensation and other liabilities 15,933 5,312 3,677
Net cash provided by (used in) operating activities 65,083 32,737 (24,615)
Cash flows from investing activities:      
Purchases of property and equipment (36,061) (15,652) (21,713)
Purchases of short-term investments (258,726) (403,587) (159,228)
Maturities of short-term investments 406,777 169,754 50,000
Net cash provided by (used in) investing activities 111,990 (249,485) (130,941)
Cash flows from financing activities:      
Proceeds from issuance of ordinary shares in connection with public offering, net of offering costs 0 173,431 0
Payments on technology license obligations (6,306) (3,052) (616)
Proceeds from employee share incentive plans 7,831 7,055 5,501
Tax withheld related to RSU settlement (9,253) (2,158) 0
Net cash provided by (used in) financing activities (7,728) 175,276 4,885
Effect of exchange rate changes on cash 41 (169) (68)
Net increase (decrease) in cash and cash equivalents 169,386 (41,641) (150,739)
Cash and cash equivalents at beginning of the year 66,942 108,583 259,322
Cash and cash equivalents at end of the year 236,328 66,942 108,583
Supplemental cash flow information:      
Income taxes paid 1,447 1,054 1,204
Purchases of property and equipment included in accounts payable, accrued expenses and other liabilities $ 8,877 $ 8,287 $ 10,909