Revenue Recognition

6 Months Ended

Nov. 01, 2025

Revenue from Contract with Customer [Abstract]

Revenue Recognition

Revenue Recognition

Disaggregation of revenue

In accordance with ASC 606-10-50, Revenue from Contracts with Customers, we disaggregate revenue based on the nature of the performance obligations and the timing of revenue recognition. This approach is intended to meet the disclosure objective of depicting how the nature, amount, timing, and uncertainty of revenue and cash flows are influenced by economic factors. It also enables users of the financial statements to understand the relationship between revenue streams and each of our reportable segments.

The following table presents our disaggregated revenue by segment:

	Three Months Ended November 1, 2025
	Commercial		Live Events		High School Park and Recreation		Transportation		International		Total
Type of performance obligation
Unique configuration	$	5,968	$	62,495	$	4,631	$	8,139	$	9,719	$	90,952
Limited configuration	39,196		10,162		37,614		11,068		17,975		116,015
Service and other	5,588		8,824		3,722		2,067		2,085		22,286
	$	50,752	$	81,481	$	45,967	$	21,274	$	29,779	$	229,253
Timing of revenue recognition
Goods/services transferred at a point in time	$	41,936	$	14,027	$	37,858	$	12,386	$	18,625	$	124,832
Goods/services transferred over time	8,816		67,454		8,109		8,888		11,154		104,421
	$	50,752	$	81,481	$	45,967	$	21,274	$	29,779	$	229,253

	Six Months Ended November 1, 2025
	Commercial		Live Events		High School Park and Recreation		Transportation		International		Total
Type of performance obligation
Unique configuration	$	14,882	$	125,758	$	19,528	$	17,637	$	16,327	$	194,132
Limited configuration	70,438		19,556		79,525		15,458		26,033		211,010
Service and other	11,599		15,967		6,261		4,754		4,502		43,083
	$	96,919	$	161,281	$	105,314	$	37,849	$	46,862	$	448,225
Timing of revenue recognition
Goods/services transferred at a point in time	$	76,005	$	25,707	$	79,652	$	18,527	$	27,528	$	227,419
Goods/services transferred over time	20,914		135,574		25,662		19,322		19,334		220,806
	$	96,919	$	161,281	$	105,314	$	37,849	$	46,862	$	448,225

	Three Months Ended October 26, 2024
	Commercial		Live Events		High School Park and Recreation		Transportation		International		Total
Type of performance obligation
Unique configuration	$	9,506	$	57,289	$	8,284	$	13,046	$	4,392	$	92,517
Limited configuration	27,838		11,640		36,246		6,924		11,455		94,103
Service and other	6,095		8,278		3,541		1,508		2,289		21,711
	$	43,439	$	77,207	$	48,071	$	21,478	$	18,136	$	208,331
Timing of revenue recognition
Goods/services transferred at a point in time	$	30,728	$	15,167	$	36,523	$	7,820	$	12,919	$	103,157
Goods/services transferred over time	12,711		62,040		11,548		13,658		5,217		105,174
	$	43,439	$	77,207	$	48,071	$	21,478	$	18,136	$	208,331

	Six Months Ended October 26, 2024
	Commercial		Live Events		High School Park and Recreation		Transportation		International		Total
Type of performance obligation
Unique configuration	$	11,768	$	151,607	$	18,918	$	27,582	$	7,006	$	216,881
Limited configuration	54,138		19,934		71,394		13,533		19,527		178,526
Service and other	11,732		14,274		5,765		2,853		4,388		39,012
	$	77,638	$	185,815	$	96,077	$	43,968	$	30,921	$	434,419
Timing of revenue recognition
Goods/services transferred at a point in time	$	60,241	$	25,917	$	71,902	$	15,381	$	22,060	$	195,501
Goods/services transferred over time	17,397		159,898		24,175		28,587		8,861		238,918
	$	77,638	$	185,815	$	96,077	$	43,968	$	30,921	$	434,419

See "Note 5. Segment Reporting" for a disaggregation of revenue by geography.

Contract balances

Contract assets represent revenue recognized for performance obligations satisfied but not yet billed and include unbilled receivables. Unbilled receivables reflect an unconditional right to payment that is subject only to the passage of time and are reclassified to accounts receivable once billed in accordance with contractual terms.

Contract liabilities represent amounts billed to customers in excess of revenue recognized to date and are recognized as revenue when the related performance obligations are satisfied.

The following table summarizes the changes in our contract assets and contract liabilities for the periods presented:

	November 1, 2025		April 26, 2025		Dollar Change		Percent Change
Contract assets	$	34,602	$	41,169	$	(6,567)	(16.0)	%
Contract liabilities - current	69,012		69,050		(38)		(0.1)
Contract liabilities - noncurrent	19,476		18,421		1,055		5.7

The changes in our contract assets and contract liabilities from April 26, 2025 to November 1, 2025 were primarily driven by the timing of billing schedules and revenue recognition. These fluctuations are influenced by the contractual payment terms and the seasonal nature of the sports markets.

No significant impairments of contract assets were identified during the three months ended November 1, 2025.

For service-type warranty contracts, revenue is allocated to the related performance obligation and recognized over time, while associated costs are recognized as incurred. Earned and unearned revenues related to these contracts are reported within the “Contract assets” and “Contract liabilities” line items in our Condensed Consolidated Balance Sheets.

The following table summarizes the changes in unearned service-type warranty contracts, net, for the six months ended November 1, 2025:

	November 1, 2025
Balance as of April 26, 2025	$	35,129
New contracts sold	29,728
Less: reductions for revenue recognized	(26,361)
Foreign currency translation and other	303
Balance as of November 1, 2025	$	38,799

Contracts in progress identified as loss contracts as of November 1, 2025 and April 26, 2025 were immaterial. Provisions for such losses are recorded in the “Accrued expenses” line item in our Condensed Consolidated Balance Sheets.

During the six months ended November 1, 2025, we recognized $55,466 of revenue that was previously recorded as contract liabilities as of April 26, 2025.

Remaining performance obligations

As of November 1, 2025, the aggregate amount of the transaction price allocated to the remaining performance obligations was $387,750. This consists of $320,618 related to product agreements and $67,132 related to service agreements. We expect approximately $327,845 of these obligations to be recognized as revenue within the next 12 months, with the remainder recognized thereafter.

While remaining performance obligations represent legally binding business commitments, they are subject to change due to cancellations, deferrals, or scope adjustments. Known changes—including project cancellations, scope revisions, foreign currency exchange fluctuations, and deferrals—are reflected or excluded from the reported balance, as appropriate.

Revenue recognized during the six months ended November 1, 2025 and October 26, 2024 related to performance obligations satisfied in prior periods was immaterial.