Segments (Tables)

3 Months Ended

Aug. 01, 2026

Schedule of segment results

Prior period segment information has been revised to align with the new segment presentation.


		Three Months Ended August 1, 2026
		AxS			SCDE			Total
Revenue:
Product sales		$	273,865		$	55,193		$	329,058
Contract services			72,104			79,328			151,432
			345,969			134,521			480,490
Less:
Cost of sales less intangible amortization and other purchase accounting adjustments			213,574			123,765			337,339
Intangible amortization included in cost of sales			8,592			9,960			18,552
SG&A less intangible amortization			62,892			23,732			86,624
Intangible amortization included in SG&A			7,167			17,717			24,884
Research and development			22,181			1,781			23,962
Other expense (income)			600			(5)			595
Add:
Depreciation			8,632			3,965			12,597
Amortization			15,759			27,677			43,436
Acquisition-related expenses			1,176			966			2,142
Amortization of cloud computing arrangement implementation			1,753			—			1,753
Equity securities investments activity, net			—			—			—
Stock-based compensation			4,002			925			4,927
Segment adjusted EBITDA		$	62,285		$	(8,896)		$	53,389


		Three Months Ended August 2, 2025
		AxS			SCDE			Total
Revenue:
Product sales		$	240,744		$	72,789		$	313,533
Contract services			44,580			96,563			141,143
			285,324			169,352			454,676
Less:
Cost of sales less intangible amortization and other purchase accounting adjustments			175,047			147,132			322,179
Intangible amortization included in cost of sales			21,982			15,397			37,379
SG&A less intangible amortization			59,742			29,231			88,973
Intangible amortization included in SG&A			11,125			31,178			42,303
Research and development			29,763			3,351			33,114
Other expense (income)			(837)			(1,524)			(2,361)
Add:
Depreciation			7,771			2,801			10,572
Amortization			33,107			46,575			79,682
Acquisition-related expenses			15,553			8,176			23,729
Amortization of cloud computing arrangement implementation			747			9			756
Equity securities investments activity, net			(1,695)			(1,006)			(2,701)
Stock-based compensation			8,775			2,654			11,429
Segment adjusted EBITDA		$	52,760		$	3,796		$	56,556

Schedule of reconciliation from segment adjusted income from operations to income (loss) before taxes

The following table (in thousands) provides a reconciliation from segment adjusted EBITDA to income before income taxes:


		Three Months Ended
		August 1,			August 2,
		2026			2025
Segment adjusted EBITDA		$	53,389		$	56,556
Depreciation and amortization			(56,033)			(90,254)
Acquisition-related expenses			(2,142)			(23,729)
Amortization of cloud computing arrangement implementation			(1,753)			(756)
Stock-based compensation			(4,927)			(11,429)
Equity securities investments activity, net			—			2,701
Interest expense, net			4,136			(17,415)
(Loss) income before income taxes		$	(7,330)		$	(84,326)

Schedule of segment assets and capital expenditures by segment


		AxS			SCDE			Corporate			Total
As of August 1, 2026		$	2,590,495		$	2,021,599		$	1,118,599		$	5,730,693
As of April 30, 2026		$	2,604,511		$	2,032,663		$	1,079,568		$	5,716,742

Capital expenditures are summarized in the table below (in thousands):


		AxS			SCDE			Corporate			Total
Three Months Ended August 1, 2026		$	40,204		$	7,966		$	1,280		$	49,450
Three Months Ended August 2, 2025		$	15,178		$	16,437		$	453		$	32,068