Net Income (Loss) Per Share

3 Months Ended

Aug. 02, 2025

Earnings Per Share [Abstract]

Net Income (Loss) Per Share

Net Income (Loss) Per Share

The Company reports both basic net income (loss) per share, which is based on the weighted-average number of ordinary shares outstanding during the period, and diluted net income (loss) per share, which is based on the weighted-average number of ordinary shares outstanding and potentially dilutive shares outstanding during the period. Net income (loss) per share for the three months ended August 2, 2025 and August 3, 2024, respectively, was determined as follows (in thousands, except per share amounts):

	Three Months Ended
	August 2, 2025		August 3, 2024
Numerator:
Net income (loss)	$	63,399	$	(9,540)
Denominator:
Weighted-average shares outstanding used in basic calculation	171,927		165,140
Effect of dilutive shares
Share-based compensation awards	9,115		—
Customer Warrant	3,535		—
Weighted-average shares outstanding attributable to ordinary shareholders	184,577		165,140
Net income (loss) per share:
Basic	$	0.37	$	(0.06)
Diluted	$	0.34	$	(0.06)

Potential dilutive securities include dilutive ordinary shares from share-based awards attributable to the assumed exercise of share options, restricted share units and employee stock purchase plan shares using the treasury stock method. Under the treasury stock method, potential ordinary shares outstanding are not included in the computation of diluted net income (loss) per share if their effect is anti-dilutive. The following potentially dilutive securities outstanding (in thousands) have been excluded from the computations of diluted weighted average shares outstanding for the three months ended August 2, 2025 and August 3, 2024:

	Three Months Ended
	August 2, 2025	August 3, 2024
Share-based compensation awards	296	15,227
Customer Warrant	—	4,080
	296	19,307