XML 27 R16.htm IDEA: XBRL DOCUMENT

Share Incentive Plan

3 Months Ended

Aug. 02, 2025

Share-Based Payment Arrangement [Abstract]

Restricted Stock Unit (RSU) Awards

A summary of information related to RSU activity during the three months ended August 2, 2025 is as follows:


	RSUs Outstanding
	Number of Shares (in millions)	Weighted-Average Grant Date Fair Value	Weighted-Average Remaining Contractual Term	Aggregate Intrinsic Value (in millions)
Balances as of May 3, 2025	9.5	$33.88	1.39	$	458.1
Granted	0.7	$67.69
Vested	(0.9)	$15.83
Canceled/ forfeited	(0.1)	$27.10
Balances and expected to vest as of August 2, 2025	9.2	$38.16	1.32	$	992.0

Performance-based Restricted Stock Unit (PSU) Awards

A summary of information related to PSU activity during the three months ended August 2, 2025 is as follows:


	PSUs Outstanding
	Number of Shares (in millions)	Weighted-Average Grant Date Fair Value	Weighted-Average Remaining Contractual Term	Aggregate Intrinsic Value (in millions)
Balances as of May 3, 2025	0.2	$43.70	2.53	$	10.1
Granted	0.8	$63.21
Balances and expected to vest as of August 2, 2025	1.0	$59.27	2.18	$	111.9

Share Option Awards

A summary of information related to share option activity during the three months ended August 2, 2025 is as follows:


	Options Outstanding
	Outstanding Share Options (in millions)	Weighted-Average Exercise Price	Weighted-Average Remaining Contractual Term	Aggregate Intrinsic Value (in millions)
Balance as of May 3, 2025	3.5	$2.23	4.79	$	162.8
Options vested and exercised	(0.7)	$2.38
Balance and expected to vest as of August 2, 2025	2.8	$2.20	4.62	$	295.1
Exercisable as of August 2, 2025	2.8	$2.19	4.61	$	295.0

Employee Stock Purchase Plan (ESPP)

The Company issued 0.1 million shares during the three months ended August 2, 2025 and 0.1 million shares during the three months ended August 3, 2024, 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 Ended
	August 2, 2025		August 3, 2024
Cost of revenue	$	356	$	281
Research and development	19,158		9,170
Selling, general and administrative	15,941		7,189
	$	35,455	$	16,640