0000915779-23-000133 | 10-Q | XBRL Viewer

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Investments in Affiliates (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 28, 2023	Oct. 29, 2022	Oct. 28, 2023	Oct. 29, 2022	Apr. 29, 2023
Schedule of Investments [Line Items]
Equity method investments	$ 9,819		$ 9,819		$ 11,934
Equity in income (loss) of affiliate	(771)	$ (811)	(1,461)	$ (1,701)
Accounts payable	14		14
Amount invested			2,899	2,882
Purchase of convertible notes	$ 11,663		11,663
Convertible note and investment in affiliates, amount			$ 21,483	25,343
Miortech
Schedule of Investments [Line Items]
Ownership percentage	55.90%		55.90%
XdisplayTM
Schedule of Investments [Line Items]
Ownership percentage	16.40%		16.40%
Convertible note
Schedule of Investments [Line Items]
Amount invested			$ 2,250
Promissory Notes
Schedule of Investments [Line Items]
Amount invested			649
Product Design and Development
Schedule of Investments [Line Items]
Related party transaction, amounts of transaction			$ 123	$ 672

Revenue Recognition

6 Months Ended

Oct. 28, 2023

Revenue from Contract with Customer [Abstract]

Revenue Recognition

Disaggregation of revenue

In accordance with ASC 606-10-50, we disaggregate revenue from contracts with customers by the type of performance obligation and the timing of revenue recognition. We determine that disaggregating revenue in these categories achieves the disclosure objective to depict how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors and to enable users of financial statements to understand the relationship to each reportable segment.

The following table presents our disaggregation of revenue by segments:


	Three Months Ended October 28, 2023
	Commercial		Live Events		High School Park and Recreation		Transportation		International		Total
Type of performance obligation
Unique configuration	$	9,511	$	47,496	$	11,539	$	11,047	$	9,993	$	89,586
Limited configuration	28,752		13,771		36,277		8,469		7,302		94,571
Service and other	4,190		6,943		1,126		727		2,226		15,212
	$	42,453	$	68,210	$	48,942	$	20,243	$	19,521	$	199,369
Timing of revenue recognition
Goods/services transferred at a point in time	$	29,379	$	15,390	$	34,722	$	8,592	$	7,919	$	96,002
Goods/services transferred over time	13,074		52,820		14,220		11,651		11,602		103,367
	$	42,453	$	68,210	$	48,942	$	20,243	$	19,521	$	199,369


	Six Months Ended October 28, 2023
	Commercial		Live Events		High School Park and Recreation		Transportation		International		Total
Type of performance obligation
Unique configuration	$	22,429	$	124,043	$	26,658	$	23,631	$	18,783	$	215,544
Limited configuration	58,665		23,732		76,614		16,536		12,541		188,088
Service and other	8,242		12,434		1,904		1,445		4,243		28,268
	$	89,336	$	160,209	$	105,176	$	41,612	$	35,567	$	431,900
Timing of revenue recognition
Goods/services transferred at a point in time	$	60,397	$	26,167	$	73,803	$	16,859	$	13,762	$	190,988
Goods/services transferred over time	28,939		134,042		31,373		24,753		21,805		240,912
	$	89,336	$	160,209	$	105,176	$	41,612	$	35,567	$	431,900


	Three Months Ended October 29, 2022
	Commercial		Live Events		High School Park and Recreation		Transportation		International		Total
Type of performance obligation
Unique configuration	$	5,582	$	52,862	$	7,856	$	11,398	$	6,123	$	83,821
Limited configuration	26,768		9,675		32,975		4,542		14,285		88,245
Service and other	4,697		6,702		1,175		739		2,060		15,373
	$	37,047	$	69,239	$	42,006	$	16,679	$	22,468	$	187,439
Timing of revenue recognition
Goods/services transferred at a point in time	$	28,078	$	11,682	$	31,129	$	4,749	$	15,019	$	90,657
Goods/services transferred over time	8,969		57,557		10,877		11,930		7,449		96,782
	$	37,047	$	69,239	$	42,006	$	16,679	$	22,468	$	187,439


	Six Months Ended October 29, 2022
	Commercial		Live Events		High School Park and Recreation		Transportation		International		Total
Type of performance obligation
Unique configuration	$	10,269	$	95,030	$	14,448	$	23,884	$	12,624	$	156,255
Limited configuration	58,544		18,155		61,258		10,641		25,786		174,384
Service and other	8,352		12,437		2,109		1,694		4,128		28,720
	$	77,165	$	125,622	$	77,815	$	36,219	$	42,538	$	359,359
Timing of revenue recognition
Goods/services transferred at a point in time	$	60,635	$	20,904	$	58,219	$	11,131	$	26,895	$	177,784
Goods/services transferred over time	16,530		104,718		19,596		25,088		15,643		181,575
	$	77,165	$	125,622	$	77,815	$	36,219	$	42,538	$	359,359

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

Contract balances

Contract assets represent revenue recognized in excess of amounts billed and include unbilled receivables. Unbilled receivables, which represent an unconditional right to payment subject only to the passage of time, are reclassified to accounts receivable when they are billed according to the contract terms. Contract liabilities represent amounts billed to the customers in excess of revenue recognized to date.

The following table reflects the changes in our contract assets and liabilities:


	October 28, 2023		April 29, 2023		Dollar Change		Percent Change
Contract assets	$	45,210	$	46,789	$	(1,579)	(3.4)	%
Contract liabilities - current	78,293		91,549		(13,256)		(14.5)
Contract liabilities - noncurrent	15,390		13,096		2,294		17.5

The changes in our contract assets and contract liabilities from April 29, 2023 to October 28, 2023 were due to the timing of billing schedules and revenue recognition, which can vary significantly depending on the contractual payment terms and the seasonality of the sports markets. We had no impairments of contract assets for the six months ended October 28, 2023.

For service-type warranty contracts, we allocate revenue to this performance obligation, recognize the revenue over time, and recognize costs as incurred. Earned and unearned revenues for these contracts are included in the "Contract assets" and "Contract liabilities". Changes in unearned service-type warranty contracts, net were as follows:


	October 28, 2023
Balance as of April 29, 2023	$	28,338
New contracts sold	27,921
Less: reductions for revenue recognized	(21,802)
Foreign currency translation and other	(457)
Balance as of October 28, 2023	$	34,000

Contracts in progress identified as loss contracts as of October 28, 2023 and as of April 29, 2023 were immaterial. Loss provisions are recorded in the "Accrued expenses" line item in our condensed consolidated balance sheets.

During the six months ended October 28, 2023, we recognized revenue of $77,788 related to our contract liabilities as of April 29, 2023.

Remaining performance obligations

As of October 28, 2023, the aggregate amount of the transaction price allocated to the remaining performance obligations was $369,879. Remaining performance obligations related to product and service agreements as of October 28, 2023 were $306,934 and $62,945, respectively. We expect approximately $310,470 of our remaining performance obligations to be recognized over the next 12 months, with the remainder recognized thereafter. Although remaining performance obligations reflect business that is considered to be legally binding, cancellations, deferrals or scope adjustments may occur. Any known project cancellations, revisions to project scope and cost, foreign currency exchange fluctuations, and project deferrals are reflected or excluded in the remaining performance obligation balance, as appropriate. The amount of revenue recognized associated with performance obligations satisfied in prior years during the six months ended October 28, 2023 and October 29, 2022 was immaterial.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-9

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-Topic 606
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Cover - shares	6 Months Ended
Cover - shares	Oct. 28, 2023	Nov. 27, 2023
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Oct. 28, 2023
Document Transition Report	false
Entity File Number	0-23246
Entity Registrant Name	Daktronics, Inc.
Entity Incorporation, State or Country Code	SD
Entity Tax Identification Number	46-0306862
Entity Address, Address Line One	201 Daktronics Drive
Entity Address, City or Town	Brookings
Entity Address, State or Province	SD
Entity Address, Postal Zip Code	57006
City Area Code	605
Local Phone Number	692-0200
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		46,180,166
Entity Central Index Key	0000915779
Amendment Flag	false
Current Fiscal Year End Date	--04-27
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2024
Common Stock
Document Information [Line Items]
Title of 12(b) Security	Common Stock, No Par Value
Trading Symbol	DAKT
Security Exchange Name	NASDAQ
Preferred Stock
Document Information [Line Items]
Title of 12(b) Security	Preferred Stock Purchase Rights
Trading Symbol	DAKT
Security Exchange Name	NASDAQ

Financing Agreements - Schedule of Maturities of Long-Term Debt (Details) $ in Thousands	Oct. 28, 2023 USD ($)
Debt Disclosure [Abstract]
Remainder of 2024	$ 750
2025	1,500
2026	1,500
2027	10,875
2028	25,000
2029 and beyond	0
Long-term debt, net	$ 39,625

Financing Agreements - Fair Value Measurement Inputs and Valuation Techniques (Details) - Convertible note	Oct. 28, 2023
Risk-Free Rate (Annual)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt instrument, measurement input	0.0476
Implied Yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt instrument, measurement input	0.1948
Volatility (Annual)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt instrument, measurement input	0.5500
Dividend Yield (Annual)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt instrument, measurement input	0

Financing Agreements

6 Months Ended

Oct. 28, 2023

Debt Disclosure [Abstract]

Financing Agreements

Long-term debt consists of the following:


	October 28, 2023		April 29, 2023

ABL credit facility/prior line of credit	$	—	$	17,750
Mortgage	14,625		—
Convertible note	25,000		—
Long-term debt, gross	39,625		17,750
Debt issuance costs, net	(948)		—
Change in fair value of convertible note	17,910		—
Current portion	(1,500)		—
Long-term debt, net	$	55,087	$	17,750

Credit Agreements

On May 11, 2023, we closed on a $75,000 senior credit facility (the "Credit Facility"). The Credit Facility consists of a $60,000 asset-based revolving credit facility (the "ABL") maturing on May 11. 2026, secured by first priority lien on the Company's assets and which is subject to certain factors which can impact our borrowing capacity, and a $15,000 delayed draw loan (the "Delayed Draw Loan") secured by a first priority mortgage on our Brookings, South Dakota real estate (the "Mortgage"). The ABL and Delayed Draw Loan are evidenced by a Credit Agreement dated as of May 11, 2023 (the "Credit Agreement") between the Company and JPMorgan Chase Bank, N.A., as the lender. On May 11, 2023 the Company paid all amounts outstanding on the prior credit agreement, and this prior credit agreement was terminated as of

this date. No gain or loss was recognized upon termination, and the Company incurred no early termination penalties in connection with such termination.

Under the ABL, certain factors can impact our borrowing capacity. As of October 28, 2023, our borrowing capacity was $50,611, there were no borrowings outstanding and there was $5,875 used to secure letters of credit outstanding.

The interest rate on the ABL is set on a sliding scale based on the trailing 12-month fixed charge coverage and ranges from 2.5 to 3.5 percent over the standard overnight financing rate (SOFR). The ABL is secured by a first priority lien on the Company's assets described in the Credit Agreement and the Pledge and Security Agreement dated as of May 11, 2023 by and among the Company, Daktronics Installation, Inc. and JPMorgan Chase Bank, N.A.

The $15,000 Delayed Draw Loan was funded on July 7, 2023 and is secured by the Mortgage on the Company's Brookings, South Dakota real estate. It amortizes over 10 years and has monthly payments of $125. The Delayed Draw Loan is subject to the terms of the Credit Agreement and matures on May 11, 2026. The interest rate on the Delayed Draw Loan is set on a sliding scale based on the trailing 12-month fixed charge coverage ratio and ranges between 1.0 and 2.0 percent over the Commercial Bank Floating Rate (CBFR).

Convertible Note

On May 11, 2023, we issued $25,000 in aggregate principal amount evidenced by the secured Convertible Note due May 11, 2027. The Convertible Note holder (the "Holder") has a second priority lien on assets securing the ABL facility and a first priority lien on substantially all of the other assets of the Company, excluding all real property, subject to the Intercreditor Agreement dated as of May 11, 2023 by and among the Company, JPMorgan Chase Bank N.A., and the Holder of the Convertible Note.

Conversion Features

•The Convertible Note allows the Holder and any of the Holder’s permitted transferees, donees, pledgees, assignees or successors-in-interest (collectively, the “Selling Shareholders”) to convert all or any portion of the principal amount of the Convertible Note, together with any accrued and unpaid interest and any other unpaid amounts, including late charges, if any (together, the “Conversion Amount”), into shares of the Company’s common stock at an initial conversion price of $6.31 per share, subject to adjustment in accordance with the terms of the Convertible Note (the “Conversion Price”).

•The Company also has a forced conversion right, which is exercisable on the occurrence of certain conditions set forth in the Convertible Note, pursuant to which it can cause all or any portion of the outstanding and unpaid Conversion Amount to be converted into shares of common stock at the Conversion Price.

Additionally, if the Company fails other than by reason of a failure by the Holder to comply with its obligations, the Holder is permitted to cash payments from the Company until such conversion failure is cured.

Redemption Features

•If the Company were to have an Event of Default, as defined by the Convertible Note, then the Holder may require the Company to redeem all or any portion of the Convertible Note.

•If the Company has a "Change of Control", as defined by the Convertible Note, then the Holder is entitled to payment of the outstanding amount of the Convertible Note at the "Change in Control Redemption Price," as defined in the Convertible Note.

Interest

Interest accruing under the Convertible Note is payable, at the option of the Company, in either (i) cash or (ii) a combination of cash interest and capitalized interest; provided, however, that at least fifty percent (50%) of the interest paid on each interest date must be paid as cash interest. The Convertible Note accrues interest quarterly at an annual rate of 9.0 percent when interest is paid in cash or an annual rate of 10.0 percent if interest is paid in kind. Upon an event of default under the Convertible Note, the annual interest rate will increase to 12.0 percent. The annual rate of 9.0 percent was used to calculate the interest accrued as of October 28, 2023, as interest will be paid in cash.

We elected the fair value option to account for the Convertible Note as described in "Note 9. Fair Value Measurement" of the Notes to our Condensed Consolidated Financial Statements included in this Form 10-Q for further information. The financial liability was initially measured at its issue-date fair value and is subsequently remeasured at fair value on a recurring basis at each reporting period date. We have elected to present the fair value and the accrued interest component separately in the income statement. Therefore, interest will be recognized and accrued separately in interest expense, with changes in fair value of the Convertible Note presented in the "Change in fair value of convertible note" line item in our condensed consolidated statements of operations.

The changes in fair value of the Convertible Note during the six months ended October 28, 2023 are as follows:


	Liability Component
	(in thousands)
Balance as of May 11, 2023	$	25,000
Redemption of convertible promissory note	—
Fair Value Change Recognized	17,910
Balance as of October 28, 2023	$	42,910

The estimated fair value of the Convertible Note upon its issuance date of May 11, 2023 and as of October 28, 2023 was computed using a binomial lattice model which incorporates significant inputs that are not observable in the market, and thus represents a Level 3 measurement.

We determined the fair value by using the following key assumptions in the binomial lattice model:


Risk-Free Rate (Annual)	4.76	%
Implied Yield	19.48	%
Volatility (Annual)	55.00	%
Dividend Yield (Annual)	—	%

The Credit Agreement and the Convertible Note require a fixed charge coverage ratio of greater than 1.1 and include other customary non-financial covenants. As of October 28, 2023, we were in compliance with our financial covenants under the Credit Agreement and the Convertible Note.

Debt Issuance Costs

Debt issuance costs incurred and capitalized are amortized on a straight-line basis over the term of the associated debt agreement. If early principal payments or conversions occur, a proportional amount of unamortized debt issuance costs is expensed. As part of these financings, we capitalized $8,195 in debt issuance costs. During the six months ended October 28, 2023, due to the Convertible Note being accounted for at fair value, we expensed $3,353 of the related debt issuance costs which is included in the "Other expense and debt issuance costs write-off, net" line item in our condensed consolidated statements of operations. During the six months ended October 28, 2023, we amortized $744 of debt issuance costs. The remaining debt issuance costs of $4,098 are being amortized over the three-year term of the Credit Facility agreement.

Fair Value and Future Maturities

As of October 28, 2023 and April 29, 2023, the fair value of long-term debt, gross was $57,535 and $17,750, respectively. The fair value of the Convertible Note was $42,910 as of October 28, 2023.

Aggregate contractual maturities of debt in future fiscal years are as follows:


Fiscal years ending	Amount
Remainder of 2024	$	750
2025	1,500
2026	1,500
2027	10,875
2028	25,000
2029 and beyond	—
Total senior secured notes and convertible notes	$	39,625

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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+ Details

Fair Value Measurement

6 Months Ended

Oct. 28, 2023

Fair Value Disclosures [Abstract]

Fair Value Measurement

The following table sets forth by level within the fair value hierarchy our financial assets and liabilities that were accounted for at fair value on a recurring basis as of October 28, 2023 and April 29, 2023 according to the valuation techniques we used to determine their fair values. There have been no transfers of assets or liabilities among the fair value hierarchies presented.


	Fair Value Measurements
	Level 1		Level 2		Level 3		Total
Balance as of October 28, 2023
Cash and cash equivalents	$	64,740	$	—	$	—	$	64,740
Restricted cash	8,246		—		—		8,246
Convertible Note Payable	—		—		42,910		42,910
Available-for-sale securities:

US Government sponsored entities	—		546		—		546



	$	72,986	$	546	$	42,910	$	116,442
Balance as of April 29, 2023
Cash and cash equivalents	$	23,982	$	—	$	—	$	23,982
Restricted cash	708		—		—		708
Available-for-sale securities:

US Government sponsored entities	—		534		—		534


Derivatives - liability position	—		(579)		—		(579)

	$	24,690	$	(45)	$	—	$	24,645

We elected to value the Convertible Note at fair value in accordance with ASC 825-10-15-4(a) because of the embedded derivatives contained in the note. The fair value of the Convertible Note was estimated using a binomial lattice model. Binomial lattice allows for the examination of the value to a holder and understanding the investment decision that would occur at each node.

The fair value of the Convertible Note entered into during the first quarter of fiscal 2024 was classified as Level 3 because it does not have readily determinable or observable inputs for the valuation. There have been no other changes in the valuation techniques used by us to value our financial instruments since the end of fiscal 2023. For additional information, see our Annual Report on Form 10-K for the fiscal year ended April 29, 2023 for the methods and assumptions used to estimate the fair value of each class of financial instrument.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Earnings Per Share ("EPS")

6 Months Ended

Oct. 28, 2023

Earnings Per Share [Abstract]

Earnings Per Share ("EPS")

In the first quarter of fiscal 2024, we adopted ASU 2020-06. Upon adoption, we prospectively utilized the if-converted method to calculate the dilutive impact of our Convertible Note. See "Note 6. Financing Agreements" of the Notes to our Condensed Consolidated Financial Statements included in this Form 10-Q for further information on the Convertible Note.

Under the if-converted method, the Convertible Note is assumed to be converted into common stock at the beginning of the reporting period, and the resulting shares are included in the denominator of the calculation. In addition, interest charges, net of any income tax effects, are added back to the numerator of the calculation. The following is a reconciliation of the net income (loss) and common share amounts used in the calculation of basic and diluted EPS for the three and six months ended October 28, 2023 and October 29, 2022:


	Three Months Ended				Six Months Ended
	October 28, 2023		October 29, 2022		October 28, 2023		October 29, 2022
Earnings per share - basic
Net income (loss)	$	2,165	$	(12,984)	$	21,361	$	(18,310)
Weighted average shares outstanding	46,030		45,317		45,838		45,258
Basic earnings (loss) per share	$	0.05	$	(0.29)	$	0.47	$	(0.40)

Earnings per share - diluted
Net income (loss)	$	2,165	$	(12,984)	$	21,361	$	(18,310)

Diluted net income (loss)	$	2,165	$	(12,984)	$	21,361	$	(18,310)

Weighted average common shares outstanding	46,030		45,317		45,838		45,258
Dilution associated with stock compensation plans	675		—		616		—
Dilution associated with convertible note	—		—		—		—
Weighted average common shares outstanding, assuming dilution	46,705		45,317		46,454		45,258

Diluted earnings (loss) per share	$	0.05	$	(0.29)	$	0.46	$	(0.40)

Options outstanding to purchase 521 shares of common stock with a weighted average exercise price of $10.76 for the three months ended October 28, 2023 and 2,063 shares of common stock with a weighted average exercise price of $7.51 for the three months ended October 29, 2022 were not included in the computation of diluted earnings per share because the effects would be anti-dilutive.

Options outstanding to purchase 1,039 shares of common stock with a weighted average exercise price of $9.53 for the six months ended October 28, 2023 and 2,082 shares of common stock with a weighted average exercise price of $7.82 for the six months ended October 29, 2022 were not included in the computation of diluted earnings per share because the effects would be anti-dilutive.

During the three and six months ended October 28, 2023, respectively, shares of common stock issuable upon conversion of the Convertible Note have been excluded from the computation of diluted earnings per share as the effect would be anti-dilutive, as under the if-converted method, the income statement impact of the fair value adjustment and interest expense is added back to net income available to common shareholders, thereby increasing earnings per share. For the three and six months ended October 28, 2023, 4,051 and 3,806 potential common shares related to the convertible note were excluded from the calculation of diluted earnings per share. The convertible debt was not outstanding during fiscal year 2023.

Financing Agreements (Tables)

6 Months Ended

Oct. 28, 2023

Debt Disclosure [Abstract]

Schedule of Long-Term Debt Instruments

Long-term debt consists of the following:


	October 28, 2023		April 29, 2023

ABL credit facility/prior line of credit	$	—	$	17,750
Mortgage	14,625		—
Convertible note	25,000		—
Long-term debt, gross	39,625		17,750
Debt issuance costs, net	(948)		—
Change in fair value of convertible note	17,910		—
Current portion	(1,500)		—
Long-term debt, net	$	55,087	$	17,750

The changes in fair value of the Convertible Note during the six months ended October 28, 2023 are as follows:


	Liability Component
	(in thousands)
Balance as of May 11, 2023	$	25,000
Redemption of convertible promissory note	—
Fair Value Change Recognized	17,910
Balance as of October 28, 2023	$	42,910

Fair Value Measurement Inputs and Valuation Techniques

We determined the fair value by using the following key assumptions in the binomial lattice model:


Risk-Free Rate (Annual)	4.76	%
Implied Yield	19.48	%
Volatility (Annual)	55.00	%
Dividend Yield (Annual)	—	%

Schedule of Maturities of Long-Term Debt

Aggregate contractual maturities of debt in future fiscal years are as follows:


Fiscal years ending	Amount
Remainder of 2024	$	750
2025	1,500
2026	1,500
2027	10,875
2028	25,000
2029 and beyond	—
Total senior secured notes and convertible notes	$	39,625

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details

Financing Agreements (Details Textual)			6 Months Ended
Financing Agreements (Details Textual)	Jul. 07, 2023 Rate	May 11, 2023 USD ($) $ / shares Rate	Oct. 28, 2023 USD ($)	Oct. 29, 2022 USD ($)	Apr. 29, 2023 USD ($)
Line of Credit Facility [Line Items]
Change in fair value of convertible note		$ 0
Termination penalty		0
Debt issuance costs, net			$ 3,150,000		$ 3,866,000
Debt issuance costs			6,454,000	$ 0
Long-term debt			57,535,000		$ 17,750,000
Convertible debt			$ 42,910,000
Convertible note
Line of Credit Facility [Line Items]
Debt instrument, face amount		$ 25,000,000
Debt instrument, term			3 years
Interest rate, stated percentage \| Rate		9.00%
Conversion price (in usd per share) \| $ / shares		$ 6.31
Interest coverage ratio		1.1
Debt issuance costs, net		$ 8,195,000
Debt issuance costs			$ 3,353,000
Amortization of debt issuance cost			744,000
Remaining debt issuance cost			4,098,000
Convertible note \| Minimum
Line of Credit Facility [Line Items]
Interest rate, stated percentage \| Rate		10.00%
Convertible note \| Maximum
Line of Credit Facility [Line Items]
Interest rate, stated percentage \| Rate		12.00%
Credit Agreements \| ABL credit facility/prior line of credit
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity		$ 75,000,000
Letters of credit outstanding			5,875,000
Credit Agreements \| Secured Debt
Line of Credit Facility [Line Items]
Debt instrument, face amount		15,000,000
Debt instrument, term	10 years
Debt instrument, periodic payment		125,000
Credit Agreements \| Secured Debt \| Minimum
Line of Credit Facility [Line Items]
Interest rate, stated percentage \| Rate	1.00%
Credit Agreements \| Secured Debt \| Maximum
Line of Credit Facility [Line Items]
Interest rate, stated percentage \| Rate	2.00%
Revolving Credit Facility \| Credit Agreements \| ABL credit facility/prior line of credit
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity		$ 60,000,000
Current borrowing capacity			50,611,000
Long-term line of credit			$ 0
Revolving Credit Facility \| Credit Agreements \| ABL credit facility/prior line of credit \| Minimum \| Secured Overnight Financing Rate (SOFR)
Line of Credit Facility [Line Items]
Basis spread on variable rate		2.50%
Revolving Credit Facility \| Credit Agreements \| ABL credit facility/prior line of credit \| Maximum \| Secured Overnight Financing Rate (SOFR)
Line of Credit Facility [Line Items]
Basis spread on variable rate		3.50%

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 28, 2023	Oct. 29, 2022	Oct. 28, 2023	Oct. 29, 2022
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 2,165	$ (12,984)	$ 21,361	$ (18,310)
Other comprehensive (loss):
Cumulative translation adjustments	(1,190)	(1,521)	(1,442)	(2,163)
Unrealized gain (loss) on available-for-sale securities, net of tax	9	(1)	16	0
Total other comprehensive (loss), net of tax	(1,181)	(1,522)	(1,426)	(2,163)
Comprehensive income (loss)	$ 984	$ (14,506)	$ 19,935	$ (20,473)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 39: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

+ Details

Revenue Recognition - Contract with Customer, Contract Asset, Contract Liability, and Receivable (Details) - USD ($) $ in Thousands	6 Months Ended
	Oct. 28, 2023	Apr. 29, 2023
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contract assets	$ 45,210	$ 46,789
Contract liabilities - current	78,293	91,549
Contract liabilities - noncurrent	15,390	$ 13,096
Dollar Change
Contract assets	(1,579)
Contract liabilities - current	(13,256)
Contract liabilities - noncurrent	$ 2,294
Percent Change
Contract assets	(3.40%)
Contract liabilities - current	(14.50%)
Contract liabilities - noncurrent	17.50%
Service-type Warranty Contracts
Changes in Unearned Service-Type Warranty Contract [Roll Forward]
Balance at beginning of period	$ 28,338
New contracts sold	27,921
Less: reductions for revenue recognized	(21,802)
Foreign currency translation and other	(457)
Balance at ending of period	$ 34,000

Financing Agreements - Schedule of Long-Term Debt Instruments Fair Value Disclosure (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 28, 2023	Oct. 29, 2022	Oct. 28, 2023	Oct. 28, 2023	Oct. 29, 2022
Debt Instrument Fair Value Disclosure [Roll Forward]
Beginning balance				$ 25,000
Redemption of convertible promissory note				0
Fair Value Change Recognized	$ (10,650)	$ 0	$ (17,910)	17,910	$ 0
Ending balance	$ 42,910		$ 42,910	$ 42,910

Basis of Presentation

6 Months Ended

Oct. 28, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Basis of Presentation

Daktronics, Inc. and its subsidiaries (the “Company”, “Daktronics”, “we”, “our”, or “us”) are industry leaders in designing and manufacturing electronic scoreboards, programmable display systems and large screen video displays for sporting, commercial and transportation applications.

In the opinion of management, the accompanying unaudited condensed consolidated financial statements contain all adjustments (consisting of normal recurring adjustments) necessary to fairly present our financial position, results of operations and cash flows for the periods presented. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires management to make estimates and assumptions affecting the reported amounts of assets and liabilities, revenues and expenses, and the disclosure of contingent liabilities. Estimates used in the preparation of the unaudited consolidated financial statements include, among others, revenue recognition, future warranty expenses, the fair value of long-term debt, the fair value of investments in affiliates, income tax expenses, and stock-based compensation. Due to the inherent uncertainty involved in making estimates, actual results in future periods may differ from those estimates.

Certain information and disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted. The balance sheet at April 29, 2023 has been derived from the audited financial statements at that date, but it does not include all the information and disclosures required by GAAP for complete financial statements. These financial statements should be read in conjunction with our financial statements and notes thereto for the fiscal year ended April 29, 2023, which are contained in our Annual Report on Form 10-K previously filed with the Securities and Exchange Commission ("SEC"). The results of operations for the interim periods presented are not necessarily indicative of results that may be expected for any other interim period or for the full fiscal year.

Daktronics, Inc. operates on a 52- or 53-week fiscal year, with our fiscal year ending on the Saturday closest to April 30 of each year. When April 30 falls on a Wednesday, the fiscal year ends on the preceding Saturday. Within each fiscal year, each quarter is comprised of 13-week periods following the beginning of each fiscal year. In each 53-week fiscal year, an additional week is added to the first quarter, and each of the last three quarters is comprised of a 13-week period. The six months ended October 28, 2023 and October 29, 2022 contained operating results for 26 weeks.

There have been no material changes to our significant accounting policies and estimates as described in our Annual Report on Form 10-K for the fiscal year ended April 29, 2023.

Cash and cash equivalents and restricted cash

The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the condensed consolidated balance sheets that sum to the totals of the same amounts shown in the condensed consolidated statements of cash flows. Restricted cash consists of cash and cash equivalents held in bank deposit accounts to secure issuances of foreign bank guarantees and letters of credit outstanding under a previous credit agreement.


	October 28, 2023		October 29, 2022
Cash and cash equivalents	$	64,740	$	6,431
Restricted cash	8,246		712
Total cash, cash equivalents, and restricted cash shown in the condensed consolidated statements of cash flows	$	72,986	$	7,143

The increase in the restricted cash balance is due to bank guarantees or other financial instruments for display installations issued by other banks and secured by restricted cash deposits.

We have foreign currency cash accounts to operate our global business. These accounts are impacted by changes in foreign currency rates. Of our $64,740 in cash and cash equivalent balances as of October 28, 2023, $54,245 were denominated in United States dollars, of which $737 were held by our foreign subsidiaries. As of October 28, 2023, we had an additional

$10,495 in cash balances denominated in foreign currencies, of which $8,466 were maintained in accounts of our foreign subsidiaries.

Recent Accounting Pronouncements

Accounting Standards Adopted

In August 2020, the Financial Accounting Standards Board issued Accounting Standards Update ("ASU") 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470- 20) and Derivatives and Hedging - Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity (“ASU 2020-06”). ASU 2020-06 simplified the accounting for certain financial instruments with characteristics of liabilities and equity. This ASU (1) simplified the accounting for convertible debt instruments and convertible preferred stock by removing the existing guidance in Accounting Standards Codification ("ASC") 470-20, Debt: Debt with Conversion and Other Options, that required entities to account for beneficial conversion features and cash conversion features in equity, separately from the host convertible debt or preferred stock; (2) revised the scope exception from derivative accounting in ASC 815-40 for freestanding financial instruments and embedded features that are both indexed to the issuer’s own stock and classified in stockholders’ equity by removing certain criteria required for equity classification; and (3) revised the guidance in ASC 260, Earnings Per Share, to require entities to calculate diluted earnings per share ("EPS") for convertible instruments by using the if-converted method. In addition, entities must presume share settlement for purposes of calculating diluted EPS when an instrument may be settled in cash or shares. For SEC filers, excluding smaller reporting companies, ASU 2020-06 was effective for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. Early adoption was permitted, but no earlier than fiscal years beginning after December 15, 2020. For all other entities, ASU 2020-06 was effective for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years. In the first quarter of fiscal 2024, we adopted ASU 2020-06. Upon adoption, we prospectively utilized the if-converted method to calculate the dilutive impact of our convertible note issued on May 11, 2023 (the "Convertible Note"). See "Note 6. Financing Agreements" of the Notes to our Condensed Consolidated Financial Statements included in this Form 10-Q for further information on the Convertible Note.

Accounting Standards Not Yet Adopted

We have reviewed all recently issued accounting pronouncements and concluded the standards were either not applicable or not expected to have a significant impact on our consolidated financial statements

Basis of Presentation (Policies)	6 Months Ended
Basis of Presentation (Policies)	Oct. 28, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Accounting	In the opinion of management, the accompanying unaudited condensed consolidated financial statements contain all adjustments (consisting of normal recurring adjustments) necessary to fairly present our financial position, results of operations and cash flows for the periods presented. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires management to make estimates and assumptions affecting the reported amounts of assets and liabilities, revenues and expenses, and the disclosure of contingent liabilities. Estimates used in the preparation of the unaudited consolidated financial statements include, among others, revenue recognition, future warranty expenses, the fair value of long-term debt, the fair value of investments in affiliates, income tax expenses, and stock-based compensation. Due to the inherent uncertainty involved in making estimates, actual results in future periods may differ from those estimates.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Accounting Standards Adopted In August 2020, the Financial Accounting Standards Board issued Accounting Standards Update ("ASU") 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470- 20) and Derivatives and Hedging - Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity (“ASU 2020-06”). ASU 2020-06 simplified the accounting for certain financial instruments with characteristics of liabilities and equity. This ASU (1) simplified the accounting for convertible debt instruments and convertible preferred stock by removing the existing guidance in Accounting Standards Codification ("ASC") 470-20, Debt: Debt with Conversion and Other Options, that required entities to account for beneficial conversion features and cash conversion features in equity, separately from the host convertible debt or preferred stock; (2) revised the scope exception from derivative accounting in ASC 815-40 for freestanding financial instruments and embedded features that are both indexed to the issuer’s own stock and classified in stockholders’ equity by removing certain criteria required for equity classification; and (3) revised the guidance in ASC 260, Earnings Per Share, to require entities to calculate diluted earnings per share ("EPS") for convertible instruments by using the if-converted method. In addition, entities must presume share settlement for purposes of calculating diluted EPS when an instrument may be settled in cash or shares. For SEC filers, excluding smaller reporting companies, ASU 2020-06 was effective for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. Early adoption was permitted, but no earlier than fiscal years beginning after December 15, 2020. For all other entities, ASU 2020-06 was effective for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years. In the first quarter of fiscal 2024, we adopted ASU 2020-06. Upon adoption, we prospectively utilized the if-converted method to calculate the dilutive impact of our convertible note issued on May 11, 2023 (the "Convertible Note"). See "Note 6. Financing Agreements" of the Notes to our Condensed Consolidated Financial Statements included in this Form 10-Q for further information on the Convertible Note. Accounting Standards Not Yet Adopted We have reviewed all recently issued accounting pronouncements and concluded the standards were either not applicable or not expected to have a significant impact on our consolidated financial statements

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 28, 2023	Oct. 29, 2022	Oct. 28, 2023	Oct. 29, 2022
Income Statement [Abstract]
Net sales	$ 199,369	$ 187,439	$ 431,900	$ 359,359
Cost of sales	145,170	155,735	306,554	301,861
Gross profit	54,199	31,704	125,346	57,498
Operating expenses:
Selling	14,653	14,525	27,582	28,958
General and administrative	10,889	8,687	20,488	18,128
Product design and development	9,221	6,966	17,624	14,405
Operating expenses	34,763	30,178	65,694	61,491
Operating income (loss)	19,436	1,526	59,652	(3,993)
Nonoperating (expense) income:
Interest (expense) income, net	(1,326)	(263)	(2,207)	(323)
Change in fair value of convertible note	(10,650)	0	(17,910)	0
Other expense and debt issuance costs write-off, net	(1,303)	(208)	(5,282)	(955)
Income (loss) before income taxes	6,157	1,055	34,253	(5,271)
Income tax expense	3,992	14,039	12,892	13,039
Net income (loss)	$ 2,165	$ (12,984)	$ 21,361	$ (18,310)
Weighted average shares outstanding:
Basic (in shares)	46,030,000	45,317,000	45,838,000	45,258,000
Diluted (in shares)	46,705,000	45,317,000	46,454,000	45,258,000
Earnings (loss) per share:
Basic (in usd per share)	$ 0.05	$ (0.29)	$ 0.47	$ (0.40)
Diluted (in usd per share)	$ 0.05	$ (0.29)	$ 0.46	$ (0.40)

Segment Reporting - Schedule of Segment Reporting Information, By Segment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 28, 2023	Oct. 29, 2022	Oct. 28, 2023	Oct. 28, 2023	Oct. 29, 2022
Disaggregation of Revenue [Line Items]
Net sales	$ 199,369	$ 187,439	$ 431,900		$ 359,359
Gross profit:	54,199	31,704	125,346		57,498
Selling	14,653	14,525	27,582		28,958
General and administrative	10,889	8,687	20,488		18,128
Product design and development	9,221	6,966	17,624		14,405
Operating expenses:	34,763	30,178	65,694		61,491
Operating income (loss)	19,436	1,526	59,652		(3,993)
Interest (expense) income, net	(1,326)	(263)	(2,207)		(323)
Change in fair value of convertible note	10,650	0	17,910	$ (17,910)	0
Other expense and debt issuance costs write-off, net	(1,303)	(208)	(5,282)		(955)
Income (loss) before income taxes	6,157	1,055	34,253		(5,271)
Depreciation and amortization:	4,825	4,200	9,494		8,225
Corporate, non-segment
Disaggregation of Revenue [Line Items]
Depreciation and amortization:	931	662	1,749		1,309
Commercial
Disaggregation of Revenue [Line Items]
Net sales	42,453	37,047	89,336		77,165
Commercial \| Operating segments
Disaggregation of Revenue [Line Items]
Net sales	42,453	37,047	89,336		77,165
Gross profit:	7,231	6,197	20,000		11,018
Depreciation and amortization:	1,070	834	2,112		1,637
Live Events
Disaggregation of Revenue [Line Items]
Net sales	68,210	69,239	160,209		125,622
Live Events \| Operating segments
Disaggregation of Revenue [Line Items]
Net sales	68,210	69,239	160,209		125,622
Gross profit:	19,234	7,983	47,174		11,769
Depreciation and amortization:	1,604	1,627	3,217		3,193
High School Park and Recreation
Disaggregation of Revenue [Line Items]
Net sales	48,942	42,006	105,176		77,815
High School Park and Recreation \| Operating segments
Disaggregation of Revenue [Line Items]
Net sales	48,942	42,006	105,176		77,815
Gross profit:	16,420	11,811	37,245		21,788
Depreciation and amortization:	474	383	936		722
Transportation
Disaggregation of Revenue [Line Items]
Net sales	20,243	16,679	41,612		36,219
Transportation \| Operating segments
Disaggregation of Revenue [Line Items]
Net sales	20,243	16,679	41,612		36,219
Gross profit:	6,780	4,084	13,869		9,922
Depreciation and amortization:	174	128	342		253
International
Disaggregation of Revenue [Line Items]
Net sales	19,521	22,468	35,567		42,538
International \| Operating segments
Disaggregation of Revenue [Line Items]
Net sales	19,521	22,468	35,567		42,538
Gross profit:	4,534	1,629	7,058		3,001
Depreciation and amortization:	$ 572	$ 566	$ 1,138		$ 1,111

Commitments and Contingencies

6 Months Ended

Oct. 28, 2023

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Litigation: We are a party to legal proceedings and claims which arise during the ordinary course of business. We review our legal proceedings and claims, regulatory reviews and inspections, and other legal matters on an ongoing basis and follow appropriate accounting guidance when making accrual and disclosure decisions. We establish accruals for those contingencies when the incurrence of a loss is probable and can be reasonably estimated, and we disclose the amount accrued and the amount of a reasonably possible loss in excess of the amount accrued if such disclosure is necessary for our financial statements to not be misleading. We do not record an accrual when the likelihood of loss being incurred is probable, but the amount cannot be reasonably estimated, or when the loss is believed to be only reasonably possible or remote, although disclosures will be made for material matters as required by ASC 450-20, Contingencies - Loss Contingencies. Our assessment of whether a loss is reasonably possible or probable is based on our assessment and consultation with legal counsel regarding the ultimate outcome of the matter following all appeals.

For other unresolved legal proceedings or claims, we do not believe there is a reasonable probability that any material loss would be incurred. Accordingly, no material accrual or disclosure of a potential range of loss has been made related to these matters. We do not expect the ultimate liability of these unresolved legal proceedings or claims to have a material effect on our financial position, liquidity, or capital resources.

Warranties: Changes in our warranty obligation for the six months ended October 28, 2023 consisted of the following:


	October 28, 2023
Balance as of April 29, 2023	$	32,541
Warranties issued during the period	7,781
Settlements made during the period	(6,209)
Changes in accrued warranty obligations for pre-existing warranties during the period, including expirations	700
Balance as of October 28, 2023	$	34,813

Performance guarantees: We have entered into standby letters of credit, bank guarantees and surety bonds with financial institutions relating to the guarantee of our future performance on contracts, primarily construction-type contracts. As of October 28, 2023, we had outstanding letters of credit, bank guarantees and surety bonds in the amount of $5,875, $558 and $40,633, respectively. Performance guarantees are issued to certain customers to guarantee the operation and installation of the equipment and our ability to complete a contract. These performance guarantees have various terms but generally have a term of one year. We enter into written agreements with our customers, and those agreements often contain indemnification provisions that require us to make the customer whole if certain acts or omissions by us cause the customer financial loss. We make efforts to negotiate reasonable caps and limitations on the recovery of such damages. As of October 28, 2023, we were not aware of any material indemnification claims.

Related Party Transactions	6 Months Ended
Related Party Transactions	Oct. 28, 2023
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions The Board has adopted a written policy and procedures with respect to related party transactions, which the Audit Committee oversees. Under the policy, a "related party transaction" is generally defined as a transaction, arrangement, or relationship in which the Company was, is or will be a participant; the amount involved exceeds $120; and in which any "related person" had, has or will have a direct or indirect material interest. The policy generally defines a "related person" as a Director, executive officer or beneficial owner of more than five percent of any class of our voting securities and any immediate family member of any of the foregoing persons. The Audit Committee reviews and, if appropriate, approves related party transactions, including certain transactions which are deemed to be pre-approved under the policy. On an annual basis, the Audit Committee reviews any previously approved related party transaction that is ongoing. As reported in Part II, Item 7 “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the section entitled “Liquidity and Capital Resources” of our Annual Report on Form 10-K for the fiscal year ended April 29, 2023, effective on May 11, 2023, the Company entered into the Securities Purchase Agreement with Alta Fox Opportunities Fund, LP, as the Holder of the Convertible Note. Under the Securities Purchase Agreement, the Company sold and issued to the Holder the Convertible Note in exchange for the payment by the Holder to the Company of $25,000. As of May 11, 2023, and based on Amendment No. 3 to the Schedule 13D filed by the Investor and its affiliates named therein on May 15, 2023 with the SEC, the Holder and its affiliates beneficially owned 4,768 shares of common stock of the Company, representing 9.99 percent of the Company’s common stock, causing the Holder to be a “related party” of the Company under the Company’s written policy and procedures and the applicable definitions under the Securities Act of 1933. The Securities Purchase Agreement, the Convertible Note, the Pledge and Security Agreement dated as of May 11, 2023 by and between the Holder and the Company, and the Registration Rights Agreement were approved in advance of their execution by the Company’s Strategy and Financing Review Committee, the members of which include all members of the Company’s Audit Committee. Since May 11, 2023 the largest aggregate amount outstanding under the Convertible Note was $25,563, consisting of $25,000 of principal and $563 of interest for a total of $25,563 outstanding. In the first six months of fiscal 2024, we have made interest payments of $563 under the Convertible Note. The description of the Securities Purchase Agreement, the Convertible Note, the Pledge and Security Agreement and the Registration Rights Agreement dated as of May 11, 2023 by and between the Holder and the Company and their respective terms set forth in Part II, Item 7 “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the section entitled “Liquidity and Capital Resources” of the Company's Annual Report on Form 10-K for the fiscal year ended April 29, 2023 is hereby incorporated by reference into this Report. In addition, the Company is a party to the Standstill and Voting Agreement dated as of March 19, 2023 with Alta Fox Management, LLC and Connor Haley (the “Standstill Agreement”). The Standstill Agreement is filed as Exhibit 10.13 to Company's Annual Report on Form 10-K for the fiscal year ended April 29, 2023. As described in Amendment No. 3 (“Amendment No. 3”) to the Schedule 13D filed by the Holder and its affiliates named therein on June 9, 2023 with the SEC and based on other information provided by the Holder, the following persons may be deemed to be beneficial owners of the shares of the Company’s common stock beneficially owned by the Holder: Alta Fox GenPar, LP, as the general partner of Alta Fox Opportunities Fund, LP; Alta Fox Equity, LLC, as the general partner of Alta Fox GenPar, LP; Alta Fox Capital Management, LLC, as the investment manager of Alta Fox Opportunities Fund, LP; and P. Connor Haley, as the sole owner, member and manager of each of Alta Fox Capital Management, LLC and Alta Fox Equity LLC. On June 7, 2023, the Company received from the Holder written notice of a decrease in the “Percentage Cap” (as such term is defined in the Convertible Note) from 9.99 percent to 4.99 percent which decrease became effective immediately upon the Company’s receipt of such written notice. The Percentage Cap generally represents the maximum percentage of shares of the Company’s common stock the Holder may own. Based on Amendment No. 3, the Holder and its affiliates identified in Amendment No. 3 owned 2,293 shares of common stock on June 9, 2023, representing 4.99 percent of the common stock of the Company, meaning the Holder and its affiliates are no longer “related parties” of the Company under the Company’s written policy and procedures and the applicable definitions under the Securities Act of 1933. During the first quarter of fiscal 2024, the Company and South Dakota Board of Regents entered into a contract for video display systems for Dakota State University. The amount of the contract was $150. A member of the Company's Board of Directors is the President of Dakota State University. See Note 2 for further details of related party transactions with our investments in the affiliates Notes issued by our affiliates.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
-Section 50
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 2
-Subparagraph (e)
-Publisher FASB
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//850/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
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-URI https://asc.fasb.org//1943274/2147483326/850-10-50-6

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

+ Details

Earnings Per Share ("EPS") (Details Textual) - $ / shares	3 Months Ended		6 Months Ended
	Oct. 28, 2023	Oct. 29, 2022	Oct. 28, 2023	Oct. 29, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	521,000	2,063,000	1,039,000	2,082,000
Antidilutive securities excluded from computation of earnings per share, weighted average exercise price (in usd per share)	$ 10.76	$ 7.51	$ 9.53	$ 7.82
Convertible note
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	4,051,000		3,806,000

Fair Value Measurement (Tables)

6 Months Ended

Oct. 28, 2023

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis


	Fair Value Measurements
	Level 1		Level 2		Level 3		Total
Balance as of October 28, 2023
Cash and cash equivalents	$	64,740	$	—	$	—	$	64,740
Restricted cash	8,246		—		—		8,246
Convertible Note Payable	—		—		42,910		42,910
Available-for-sale securities:

US Government sponsored entities	—		546		—		546



	$	72,986	$	546	$	42,910	$	116,442
Balance as of April 29, 2023
Cash and cash equivalents	$	23,982	$	—	$	—	$	23,982
Restricted cash	708		—		—		708
Available-for-sale securities:

US Government sponsored entities	—		534		—		534


Derivatives - liability position	—		(579)		—		(579)

	$	24,690	$	(45)	$	—	$	24,645

Commitments and Contingencies - Schedule of Product Warranty Liability (Details) $ in Thousands	6 Months Ended
	Oct. 28, 2023 USD ($)
Movement in Standard Product Warranty Accrual [Roll Forward]
Beginning accrued warranty obligations	$ 32,541
Warranties issued during the period	7,781
Settlements made during the period	(6,209)
Changes in accrued warranty obligations for pre-existing warranties during the period, including expirations	700
Ending accrued warranty obligations	$ 34,813

Segment Reporting - Schedule of Revenue From Long-lived Assets, By Geographic Areas (Details) - USD ($) $ in Thousands	Oct. 28, 2023	Apr. 29, 2023
Revenues from External Customers and Long-Lived Assets [Line Items]
Property and equipment, net of accumulated depreciation:	$ 72,619	$ 72,147
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Property and equipment, net of accumulated depreciation:	65,026	63,786
Outside United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Property and equipment, net of accumulated depreciation:	$ 7,593	$ 8,361

Basis of Presentation - Schedule of Cash and Cash Equivalents (Details) - USD ($) $ in Thousands	Oct. 28, 2023	Apr. 29, 2023	Oct. 29, 2022	Apr. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash and cash equivalents	$ 64,740	$ 23,982	$ 6,431
Restricted cash	8,246	708	712
Total cash, cash equivalents, and restricted cash shown in the condensed consolidated statements of cash flows	$ 72,986	$ 24,690	$ 7,143	$ 18,008

Earnings Per Share ("EPS") - Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				6 Months Ended
	Oct. 28, 2023	Jul. 29, 2023	Oct. 29, 2022	Jul. 30, 2022	Oct. 28, 2023	Oct. 29, 2022
Earnings per share - basic
Net income (loss)	$ 2,165	$ 19,196	$ (12,984)	$ (5,326)	$ 21,361	$ (18,310)
Weighted average shares outstanding (in shares)	46,030,000		45,317,000		45,838,000	45,258,000
Basic earnings per shares (in usd per share)	$ 0.05		$ (0.29)		$ 0.47	$ (0.40)
Earnings per share - diluted
Net income (loss)	$ 2,165	$ 19,196	$ (12,984)	$ (5,326)	$ 21,361	$ (18,310)
Diluted net income (loss)	$ 2,165		$ (12,984)		$ 21,361	$ (18,310)
Weighted average shares outstanding (in shares)	46,030,000		45,317,000		45,838,000	45,258,000
Dilution associated with stock compensation plans (in shares)	675,000		0		616,000	0
Dilution associated with convertible notes (in shares)	0		0		0	0
Weighted average common shares outstanding, assuming dilution (in shares)	46,705,000		45,317,000		46,454,000	45,258,000
Diluted earnings (loss) per share (in usd per share)	$ 0.05		$ (0.29)		$ 0.46	$ (0.40)

Revenue Recognition (Details Textual) $ in Thousands	6 Months Ended
Revenue Recognition (Details Textual) $ in Thousands	Oct. 28, 2023 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Recognized revenue	$ 77,788
Revenue, remaining performance obligation	369,879
Product
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	306,934
Service
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	62,945
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-10-29
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 310,470
Revenue, remaining performance obligation, expected timing of satisfaction, period	12 months

Basis of Presentation (Details Textual) - USD ($) $ in Thousands	Oct. 28, 2023	Apr. 29, 2023	Oct. 29, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash and cash equivalents	$ 64,740	$ 23,982	$ 6,431
Cash and cash equivalents denominated in U.S. dollars	54,245
Cash and cash equivalents held by foreign subsidiaries	737
Additional cash balances denominated in foreign currencies	10,495
Additional cash balances denominated in foreign currencies, maintained by foreign subsidiaries	$ 8,466

Segment Reporting (Tables)

6 Months Ended

Oct. 28, 2023

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, By Segment

The following table sets forth certain financial information for each of our five reporting segments for the periods indicated:


	Three Months Ended				Six Months Ended
	October 28, 2023		October 29, 2022		October 28, 2023		October 29, 2022
Net sales:
Commercial	$	42,453	$	37,047	$	89,336	$	77,165
Live Events	68,210		69,239		160,209		125,622
High School Park and Recreation	48,942		42,006		105,176		77,815
Transportation	20,243		16,679		41,612		36,219
International	19,521		22,468		35,567		42,538
	199,369		187,439		431,900		359,359

Gross profit:
Commercial	7,231		6,197		20,000		11,018
Live Events	19,234		7,983		47,174		11,769
High School Park and Recreation	16,420		11,811		37,245		21,788
Transportation	6,780		4,084		13,869		9,922
International	4,534		1,629		7,058		3,001
	54,199		31,704		125,346		57,498

Operating expenses:
Selling	14,653		14,525		27,582		28,958
General and administrative	10,889		8,687		20,488		18,128
Product design and development	9,221		6,966		17,624		14,405

	34,763		30,178		65,694		61,491
Operating income (loss)	19,436		1,526		59,652		(3,993)

Nonoperating (expense) income:
Interest (expense) income, net	(1,326)		(263)		(2,207)		(323)
Change in fair value of convertible note	(10,650)		—		(17,910)		—
Other expense and debt issuance costs write-off, net	(1,303)		(208)		(5,282)		(955)
Income (loss) before income taxes	$	6,157	$	1,055	$	34,253	$	(5,271)

Depreciation and amortization:
Commercial	$	1,070	$	834	$	2,112	$	1,637
Live Events	1,604		1,627		3,217		3,193
High School Park and Recreation	474		383		936		722
Transportation	174		128		342		253
International	572		566		1,138		1,111
Unallocated corporate depreciation and amortization	931		662		1,749		1,309
	$	4,825	$	4,200	$	9,494	$	8,225

Schedule of Revenue From External Customers and Long-lived Assets, By Geographical Areas

The following table presents information about net sales and property and equipment, net of accumulated depreciation, in the United States and elsewhere:


	Three Months Ended				Six Months Ended
	October 28, 2023		October 29, 2022		October 28, 2023		October 29, 2022
Net sales:
United States	$	178,144	$	163,142	$	392,737	$	312,580
Outside United States	21,225		24,297		39,163		46,779
	$	199,369	$	187,439	$	431,900	$	359,359


	October 28, 2023		April 29, 2023
Property and equipment, net of accumulated depreciation:
United States	$	65,026	$	63,786
Outside United States	7,593		8,361
	$	72,619	$	72,147

Commitments and Contingencies (Tables)

6 Months Ended

Oct. 28, 2023

Commitments and Contingencies Disclosure [Abstract]

Schedule of Product Warranty Liability

Warranties: Changes in our warranty obligation for the six months ended October 28, 2023 consisted of the following:


	October 28, 2023
Balance as of April 29, 2023	$	32,541
Warranties issued during the period	7,781
Settlements made during the period	(6,209)
Changes in accrued warranty obligations for pre-existing warranties during the period, including expirations	700
Balance as of October 28, 2023	$	34,813

Condensed Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Retained Earnings	Treasury Stock	Accumulated Other Comprehensive Loss
Balance beginning at Apr. 30, 2022	$ 191,564	$ 61,794	$ 48,372	$ 96,608	$ (10,285)	$ (4,925)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(5,326)			(5,326)
Cumulative translation adjustments	(642)					(642)
Unrealized gain (loss) on available-for-sale securities, net of tax	1					1
Share-based compensation	511		511
Employee savings plan activity	594	594
Balance ending at Jul. 30, 2022	186,702	62,388	48,883	91,282	(10,285)	(5,566)
Balance beginning at Apr. 30, 2022	191,564	61,794	48,372	96,608	(10,285)	(4,925)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(18,310)
Cumulative translation adjustments	(2,163)
Unrealized gain (loss) on available-for-sale securities, net of tax	0
Balance ending at Oct. 29, 2022	172,530	62,388	49,217	78,298	(10,285)	(7,088)
Balance beginning at Jul. 30, 2022	186,702	62,388	48,883	91,282	(10,285)	(5,566)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(12,984)			(12,984)
Cumulative translation adjustments	(1,521)					(1,521)
Unrealized gain (loss) on available-for-sale securities, net of tax	(1)					(1)
Share-based compensation	474		474
Tax payments related to RSU issuances	(140)		(140)
Balance ending at Oct. 29, 2022	172,530	62,388	49,217	78,298	(10,285)	(7,088)
Balance beginning at Apr. 29, 2023	200,878	63,023	50,259	103,410	(10,285)	(5,529)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	19,196			19,196
Cumulative translation adjustments	(252)					(252)
Unrealized gain (loss) on available-for-sale securities, net of tax	7					7
Share-based compensation	557		557
Exercise of stock options	46	46
Employee savings plan activity	615	615
Balance ending at Jul. 29, 2023	221,047	63,684	50,816	122,606	(10,285)	(5,774)
Balance beginning at Apr. 29, 2023	200,878	63,023	50,259	103,410	(10,285)	(5,529)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	21,361
Cumulative translation adjustments	(1,442)
Unrealized gain (loss) on available-for-sale securities, net of tax	16
Balance ending at Oct. 28, 2023	223,221	64,643	51,047	124,771	(10,285)	(6,955)
Balance beginning at Jul. 29, 2023	221,047	63,684	50,816	122,606	(10,285)	(5,774)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	2,165			2,165
Cumulative translation adjustments	(1,190)					(1,190)
Unrealized gain (loss) on available-for-sale securities, net of tax	9					9
Share-based compensation	534		534
Exercise of stock options	959	959
Tax payments related to RSU issuances	(303)		(303)
Balance ending at Oct. 28, 2023	$ 223,221	$ 64,643	$ 51,047	$ 124,771	$ (10,285)	$ (6,955)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

- Definition

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

+ References

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+ Details

Condensed Consolidated Balance Sheets (Parentheticals) - shares	Oct. 28, 2023	Apr. 29, 2023
Statement of Financial Position [Abstract]
Preferred stock, shares authorized (in shares)	50,000	50,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, shares authorized (in shares)	115,000,000	115,000,000
Common stock, shares, issued (in shares)	46,022,885	45,488,595
Treasury stock, shares (in shares)	1,907,445	1,907,445

Basis of Presentation (Tables)

6 Months Ended

Oct. 28, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Cash and Cash Equivalents


	October 28, 2023		October 29, 2022
Cash and cash equivalents	$	64,740	$	6,431
Restricted cash	8,246		712
Total cash, cash equivalents, and restricted cash shown in the condensed consolidated statements of cash flows	$	72,986	$	7,143

Restrictions on Cash and Cash Equivalents


	October 28, 2023		October 29, 2022
Cash and cash equivalents	$	64,740	$	6,431
Restricted cash	8,246		712
Total cash, cash equivalents, and restricted cash shown in the condensed consolidated statements of cash flows	$	72,986	$	7,143

Income Taxes	6 Months Ended
Income Taxes	Oct. 28, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Our effective tax rate for the three and six months ended October 28, 2023 was a tax rate of 64.8 and 37.6 percent, respectively. Income before tax includes the impacts of the change in the Convertible Note fair value; however, these changes are not deductible, resulting in the high effective tax rate. The rates for the three and six months ended October 29, 2022 were skewed by the valuation allowance placed on deferred taxes. We operate both domestically and internationally and, as of October 28, 2023, undistributed earnings of our foreign subsidiaries were considered to be reinvested indefinitely. Additionally, as of October 28, 2023, we had $527 of unrecognized tax benefits which would reduce our effective tax rate if recognized.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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+ Details

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Oct. 28, 2023	Apr. 29, 2023
CURRENT ASSETS:
Cash and cash equivalents	$ 64,740	$ 23,982
Restricted cash	8,246	708
Marketable securities	546	534
Accounts receivable, net	115,052	109,979
Inventories	141,646	149,448
Contract assets	45,210	46,789
Current maturities of long-term receivables	766	1,215
Prepaid expenses and other current assets	10,137	9,676
Income tax receivables	0	326
Total current assets	386,343	342,657
Property and equipment, net	72,619	72,147
Long-term receivables, less current maturities	151	264
Goodwill	3,198	3,239
Intangibles, net	970	1,136
Debt issuance costs, net	3,150	3,866
Investment in affiliates and other assets	27,705	27,928
Deferred income taxes	16,812	16,867
TOTAL ASSETS	510,948	468,104
CURRENT LIABILITIES:
Current portion of long-term debt	1,500	0
Accounts payable	53,645	67,522
Contract liabilities	78,293	91,549
Accrued expenses	39,773	36,005
Warranty obligations	13,378	12,228
Income taxes payable	3,347	2,859
Total current liabilities	189,936	210,163
Long-term warranty obligations	21,435	20,313
Long-term contract liabilities	15,390	13,096
Other long-term obligations	5,686	5,709
Long-term debt, net	55,087	17,750
Deferred income taxes	193	195
Total long-term liabilities	97,791	57,063
SHAREHOLDERS' EQUITY:
Preferred Shares, no par value, authorized 50,000 shares; no shares issued and outstanding	0	0
Common Stock, no par value, authorized 115,000,000 shares; 46,022,885 and 45,488,595 shares issued at October 28, 2023 and April 29, 2023, respectively	64,643	63,023
Additional paid-in capital	51,047	50,259
Retained earnings	124,771	103,410
Treasury Stock, at cost, 1,907,445 shares at October 28, 2023 and April 29, 2023, respectively	(10,285)	(10,285)
Accumulated other comprehensive loss	(6,955)	(5,529)
TOTAL SHAREHOLDERS' EQUITY	223,221	200,878
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 510,948	$ 468,104

Fair Value Measurement - Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis (Details) - USD ($) $ in Thousands	Oct. 28, 2023	Apr. 29, 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Convertible Note Payable	$ 42,910
US Government sponsored entities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale securities:		$ 534
Level 1 \| US Government sponsored entities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale securities:		0
Level 2 \| US Government sponsored entities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale securities:		534
Level 3 \| US Government sponsored entities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale securities:		0
Fair Value, Recurring
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	64,740	23,982
Restricted cash	8,246	708
Convertible Note Payable	42,910
Derivatives - liability position		(579)
Fair value, net asset (liability), total	116,442	24,645
Fair Value, Recurring \| US Government sponsored entities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale securities:	546
Fair Value, Recurring \| Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	64,740	23,982
Restricted cash	8,246	708
Convertible Note Payable	0
Derivatives - liability position		0
Fair value, net asset (liability), total	72,986	24,690
Fair Value, Recurring \| Level 1 \| US Government sponsored entities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale securities:	0
Fair Value, Recurring \| Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	0	0
Restricted cash	0	0
Convertible Note Payable	0
Derivatives - liability position		(579)
Fair value, net asset (liability), total	546	(45)
Fair Value, Recurring \| Level 2 \| US Government sponsored entities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale securities:	546
Fair Value, Recurring \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	0	0
Restricted cash	0	0
Convertible Note Payable	42,910
Derivatives - liability position		0
Fair value, net asset (liability), total	42,910	$ 0
Fair Value, Recurring \| Level 3 \| US Government sponsored entities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale securities:	$ 0

Segment Reporting

6 Months Ended

Oct. 28, 2023

Segment Reporting [Abstract]

Segment Reporting

The following table sets forth certain financial information for each of our five reporting segments for the periods indicated:


	Three Months Ended				Six Months Ended
	October 28, 2023		October 29, 2022		October 28, 2023		October 29, 2022
Net sales:
Commercial	$	42,453	$	37,047	$	89,336	$	77,165
Live Events	68,210		69,239		160,209		125,622
High School Park and Recreation	48,942		42,006		105,176		77,815
Transportation	20,243		16,679		41,612		36,219
International	19,521		22,468		35,567		42,538
	199,369		187,439		431,900		359,359

Gross profit:
Commercial	7,231		6,197		20,000		11,018
Live Events	19,234		7,983		47,174		11,769
High School Park and Recreation	16,420		11,811		37,245		21,788
Transportation	6,780		4,084		13,869		9,922
International	4,534		1,629		7,058		3,001
	54,199		31,704		125,346		57,498

Operating expenses:
Selling	14,653		14,525		27,582		28,958
General and administrative	10,889		8,687		20,488		18,128
Product design and development	9,221		6,966		17,624		14,405

	34,763		30,178		65,694		61,491
Operating income (loss)	19,436		1,526		59,652		(3,993)

Nonoperating (expense) income:
Interest (expense) income, net	(1,326)		(263)		(2,207)		(323)
Change in fair value of convertible note	(10,650)		—		(17,910)		—
Other expense and debt issuance costs write-off, net	(1,303)		(208)		(5,282)		(955)
Income (loss) before income taxes	$	6,157	$	1,055	$	34,253	$	(5,271)

Depreciation and amortization:
Commercial	$	1,070	$	834	$	2,112	$	1,637
Live Events	1,604		1,627		3,217		3,193
High School Park and Recreation	474		383		936		722
Transportation	174		128		342		253
International	572		566		1,138		1,111
Unallocated corporate depreciation and amortization	931		662		1,749		1,309
	$	4,825	$	4,200	$	9,494	$	8,225

No single geographic area comprises a material amount of our net sales or property and equipment, net of accumulated depreciation, other than the United States. The following table presents information about net sales and property and equipment, net of accumulated depreciation, in the United States and elsewhere:


	Three Months Ended				Six Months Ended
	October 28, 2023		October 29, 2022		October 28, 2023		October 29, 2022
Net sales:
United States	$	178,144	$	163,142	$	392,737	$	312,580
Outside United States	21,225		24,297		39,163		46,779
	$	199,369	$	187,439	$	431,900	$	359,359


	October 28, 2023		April 29, 2023
Property and equipment, net of accumulated depreciation:
United States	$	65,026	$	63,786
Outside United States	7,593		8,361
	$	72,619	$	72,147

We have numerous customers worldwide for sales of our products and services, and no customer accounted for 10 percent or more of net sales; therefore, we are not economically dependent on a limited number of customers for the sale of our products and services.

We have numerous raw material and component suppliers, and no supplier accounts for 10 percent or more of our cost of sales; however, we have a complex global supply chain subject to geopolitical and transportation risks and a number of single-source suppliers that could limit our supply or cause delays in obtaining raw materials and components needed in manufacturing.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//280/tableOfContent

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-26

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-34

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

+ Details

Investments in Affiliates	6 Months Ended
Investments in Affiliates	Oct. 28, 2023
Investments in and Advances to Affiliates, Schedule of Investments [Abstract]
Investments in Affiliates	Investments in Affiliates We evaluated the nature of our investment in affiliates of XdisplayTM, which is developing micro-LED mass transfer expertise and technologies, and Miortech (dba Etulipa), which is developing low power outdoor electrowetting technology. We determined that Miortech is a variable interest entity (VIE), and, based on management's analysis, we determined that Daktronics is not the primary beneficiary; therefore, the investment in Miortech is accounted for under the equity method. The aggregate amount of our investments accounted for under the equity method was $9,819 and $11,934 as of October 28, 2023 and April 29, 2023, respectively. Our proportional share of the respective affiliates' earnings or losses is included in the "Other expense and debt issuance costs write-off, net" line item in our condensed consolidated statements of operations. For the three and six months ended October 28, 2023, our share of the losses of our affiliates was $771 and $1,461 as compared to $811 and $1,701 for the three and six months ended October 29, 2022. We purchased services for research and development activities from our equity method investees. The total of these related party transactions for the six months ended October 28, 2023 and October 29, 2022 was $123 and $672, respectively, which is included in the "Product design and development" line item in our condensed consolidated statements of operations, and for the six months ended October 28, 2023, $14 remains unpaid and is included in the "Accounts payable" line item in our condensed consolidated balance sheets. During the six months ended October 28, 2023, we invested $2,250 in convertible notes and $649 in promissory notes (collectively, the "Affiliate Notes") of our affiliates, which is included in the "Investment in affiliates and other assets" line item in our condensed consolidated balance sheets. During the six months ended October 28, 2023, we did not convert any Affiliate Notes to stock ownership. Our ownership in Miortech was 55.9 percent and in XdisplayTM was 16.4 percent as of October 28, 2023. The total amount of Affiliate Notes as of October 28, 2023 was $11,663 and is included in the "Investments in affiliates and other assets" line item in our condensed consolidated balance sheets. The Affiliate Notes balance combined with the investment in affiliates balance totaled $21,483 and $25,343 as of October 28, 2023 and October 29, 2022, respectively.

Revenue Recognition (Tables)

6 Months Ended

Oct. 28, 2023

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

The following table presents our disaggregation of revenue by segments:


	Three Months Ended October 28, 2023
	Commercial		Live Events		High School Park and Recreation		Transportation		International		Total
Type of performance obligation
Unique configuration	$	9,511	$	47,496	$	11,539	$	11,047	$	9,993	$	89,586
Limited configuration	28,752		13,771		36,277		8,469		7,302		94,571
Service and other	4,190		6,943		1,126		727		2,226		15,212
	$	42,453	$	68,210	$	48,942	$	20,243	$	19,521	$	199,369
Timing of revenue recognition
Goods/services transferred at a point in time	$	29,379	$	15,390	$	34,722	$	8,592	$	7,919	$	96,002
Goods/services transferred over time	13,074		52,820		14,220		11,651		11,602		103,367
	$	42,453	$	68,210	$	48,942	$	20,243	$	19,521	$	199,369


	Six Months Ended October 28, 2023
	Commercial		Live Events		High School Park and Recreation		Transportation		International		Total
Type of performance obligation
Unique configuration	$	22,429	$	124,043	$	26,658	$	23,631	$	18,783	$	215,544
Limited configuration	58,665		23,732		76,614		16,536		12,541		188,088
Service and other	8,242		12,434		1,904		1,445		4,243		28,268
	$	89,336	$	160,209	$	105,176	$	41,612	$	35,567	$	431,900
Timing of revenue recognition
Goods/services transferred at a point in time	$	60,397	$	26,167	$	73,803	$	16,859	$	13,762	$	190,988
Goods/services transferred over time	28,939		134,042		31,373		24,753		21,805		240,912
	$	89,336	$	160,209	$	105,176	$	41,612	$	35,567	$	431,900


	Three Months Ended October 29, 2022
	Commercial		Live Events		High School Park and Recreation		Transportation		International		Total
Type of performance obligation
Unique configuration	$	5,582	$	52,862	$	7,856	$	11,398	$	6,123	$	83,821
Limited configuration	26,768		9,675		32,975		4,542		14,285		88,245
Service and other	4,697		6,702		1,175		739		2,060		15,373
	$	37,047	$	69,239	$	42,006	$	16,679	$	22,468	$	187,439
Timing of revenue recognition
Goods/services transferred at a point in time	$	28,078	$	11,682	$	31,129	$	4,749	$	15,019	$	90,657
Goods/services transferred over time	8,969		57,557		10,877		11,930		7,449		96,782
	$	37,047	$	69,239	$	42,006	$	16,679	$	22,468	$	187,439


	Six Months Ended October 29, 2022
	Commercial		Live Events		High School Park and Recreation		Transportation		International		Total
Type of performance obligation
Unique configuration	$	10,269	$	95,030	$	14,448	$	23,884	$	12,624	$	156,255
Limited configuration	58,544		18,155		61,258		10,641		25,786		174,384
Service and other	8,352		12,437		2,109		1,694		4,128		28,720
	$	77,165	$	125,622	$	77,815	$	36,219	$	42,538	$	359,359
Timing of revenue recognition
Goods/services transferred at a point in time	$	60,635	$	20,904	$	58,219	$	11,131	$	26,895	$	177,784
Goods/services transferred over time	16,530		104,718		19,596		25,088		15,643		181,575
	$	77,165	$	125,622	$	77,815	$	36,219	$	42,538	$	359,359

Contract with Customer, Contract Asset, Contract Liability, and Receivable

The following table reflects the changes in our contract assets and liabilities:


	October 28, 2023		April 29, 2023		Dollar Change		Percent Change
Contract assets	$	45,210	$	46,789	$	(1,579)	(3.4)	%
Contract liabilities - current	78,293		91,549		(13,256)		(14.5)
Contract liabilities - noncurrent	15,390		13,096		2,294		17.5


	October 28, 2023
Balance as of April 29, 2023	$	28,338
New contracts sold	27,921
Less: reductions for revenue recognized	(21,802)
Foreign currency translation and other	(457)
Balance as of October 28, 2023	$	34,000

Commitments and Contingencies (Details Textual) $ in Thousands	Oct. 28, 2023 USD ($)
Credit Agreements \| ABL credit facility/prior line of credit
Loss Contingencies [Line Items]
Letters of credit outstanding	$ 5,875
Guarantee of Business Revenue
Loss Contingencies [Line Items]
Loss contingency accrual	558
Surety Bond
Loss Contingencies [Line Items]
Loss contingency accrual	$ 40,633

Related Party Transactions (Details) - USD ($) shares in Thousands		6 Months Ended
	May 11, 2023	Oct. 28, 2023	Oct. 28, 2023	Jun. 07, 2023	May 15, 2023
Related Party Transaction [Line Items]
Threshold to be considered related party transaction		$ 120,000	$ 120,000
Redemption of convertible promissory note			$ 0
Convertible note
Related Party Transaction [Line Items]
Debt instrument, face amount	$ 25,000,000
Convertible Note Offering \| Related Party
Related Party Transaction [Line Items]
Proceeds from convertible debt	25,000,000
Convertible Note Offering \| Related Party \| Daktronics
Related Party Transaction [Line Items]
Shares owner by noncontrolling owner (in shares)				2,293	4,768
Ownership percentage				4.99%	9.99%
Convertible Note Offering \| Convertible note \| Related Party
Related Party Transaction [Line Items]
Debt instrument, face amount	25,000,000
Debt interest expense	563,000
Convertible debt	25,563,000
Redemption of convertible promissory note	$ 563,000
Video Display Systems
Related Party Transaction [Line Items]
Related party transaction, amounts of transaction		$ 150,000

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Oct. 28, 2023	Oct. 29, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ 21,361	$ (18,310)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	9,494	8,225
Loss (gain) on sale of property, equipment and other assets	101	(412)
Share-based compensation	1,091	985
Equity in loss of affiliates	1,461	1,701
Provision for doubtful accounts, net	240	573
Deferred income taxes, net	20	13,037
Non-cash impairment charges	654	0
Change in fair value of convertible note	17,910	0
Debt issuance costs write-off	3,353	0
Change in operating assets and liabilities	(11,374)	(27,737)
Net cash provided by (used in) operating activities	44,311	(21,938)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment	(9,226)	(16,237)
Proceeds from sales of property, equipment and other assets	52	432
Proceeds from sales or maturities of marketable securities	0	3,495
Purchases of equity and loans to equity investees	(2,899)	(2,882)
Net cash used in investing activities	(12,073)	(15,192)
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings on notes payable	40,000	190,608
Payments on notes payable	(18,125)	(164,190)
Principal payments on long-term obligations	(204)	0
Debt issuance costs	(6,454)	0
Proceeds from exercise of stock options	1,005	0
Tax payments related to RSU issuances	(303)	(140)
Net cash provided by financing activities	15,919	26,278
EFFECT OF EXCHANGE RATE CHANGES ON CASH	139	(13)
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	48,296	(10,865)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH:
Beginning of period	24,690	18,008
End of period	72,986	7,143
Cash paid for:
Interest	1,027	337
Income taxes, net of refunds	11,874	2,471
Supplemental schedule of non-cash investing and financing activities:
Purchases of property and equipment included in accounts payable	1,443	4,093
Contributions of common stock under the ESPP	$ 614	$ 594

Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 28, 2023	Oct. 29, 2022	Oct. 28, 2023	Oct. 29, 2022
Disaggregation of Revenue [Line Items]
Net sales	$ 199,369	$ 187,439	$ 431,900	$ 359,359
Goods/services transferred at a point in time
Disaggregation of Revenue [Line Items]
Net sales	96,002	90,657	190,988	177,784
Goods/services transferred over time
Disaggregation of Revenue [Line Items]
Net sales	103,367	96,782	240,912	181,575
Unique configuration
Disaggregation of Revenue [Line Items]
Net sales	89,586	83,821	215,544	156,255
Limited configuration
Disaggregation of Revenue [Line Items]
Net sales	94,571	88,245	188,088	174,384
Service and other
Disaggregation of Revenue [Line Items]
Net sales	15,212	15,373	28,268	28,720
Commercial
Disaggregation of Revenue [Line Items]
Net sales	42,453	37,047	89,336	77,165
Commercial \| Goods/services transferred at a point in time
Disaggregation of Revenue [Line Items]
Net sales	29,379	28,078	60,397	60,635
Commercial \| Goods/services transferred over time
Disaggregation of Revenue [Line Items]
Net sales	13,074	8,969	28,939	16,530
Commercial \| Unique configuration
Disaggregation of Revenue [Line Items]
Net sales	9,511	5,582	22,429	10,269
Commercial \| Limited configuration
Disaggregation of Revenue [Line Items]
Net sales	28,752	26,768	58,665	58,544
Commercial \| Service and other
Disaggregation of Revenue [Line Items]
Net sales	4,190	4,697	8,242	8,352
Live Events
Disaggregation of Revenue [Line Items]
Net sales	68,210	69,239	160,209	125,622
Live Events \| Goods/services transferred at a point in time
Disaggregation of Revenue [Line Items]
Net sales	15,390	11,682	26,167	20,904
Live Events \| Goods/services transferred over time
Disaggregation of Revenue [Line Items]
Net sales	52,820	57,557	134,042	104,718
Live Events \| Unique configuration
Disaggregation of Revenue [Line Items]
Net sales	47,496	52,862	124,043	95,030
Live Events \| Limited configuration
Disaggregation of Revenue [Line Items]
Net sales	13,771	9,675	23,732	18,155
Live Events \| Service and other
Disaggregation of Revenue [Line Items]
Net sales	6,943	6,702	12,434	12,437
High School Park and Recreation
Disaggregation of Revenue [Line Items]
Net sales	48,942	42,006	105,176	77,815
High School Park and Recreation \| Goods/services transferred at a point in time
Disaggregation of Revenue [Line Items]
Net sales	34,722	31,129	73,803	58,219
High School Park and Recreation \| Goods/services transferred over time
Disaggregation of Revenue [Line Items]
Net sales	14,220	10,877	31,373	19,596
High School Park and Recreation \| Unique configuration
Disaggregation of Revenue [Line Items]
Net sales	11,539	7,856	26,658	14,448
High School Park and Recreation \| Limited configuration
Disaggregation of Revenue [Line Items]
Net sales	36,277	32,975	76,614	61,258
High School Park and Recreation \| Service and other
Disaggregation of Revenue [Line Items]
Net sales	1,126	1,175	1,904	2,109
Transportation
Disaggregation of Revenue [Line Items]
Net sales	20,243	16,679	41,612	36,219
Transportation \| Goods/services transferred at a point in time
Disaggregation of Revenue [Line Items]
Net sales	8,592	4,749	16,859	11,131
Transportation \| Goods/services transferred over time
Disaggregation of Revenue [Line Items]
Net sales	11,651	11,930	24,753	25,088
Transportation \| Unique configuration
Disaggregation of Revenue [Line Items]
Net sales	11,047	11,398	23,631	23,884
Transportation \| Limited configuration
Disaggregation of Revenue [Line Items]
Net sales	8,469	4,542	16,536	10,641
Transportation \| Service and other
Disaggregation of Revenue [Line Items]
Net sales	727	739	1,445	1,694
International
Disaggregation of Revenue [Line Items]
Net sales	19,521	22,468	35,567	42,538
International \| Goods/services transferred at a point in time
Disaggregation of Revenue [Line Items]
Net sales	7,919	15,019	13,762	26,895
International \| Goods/services transferred over time
Disaggregation of Revenue [Line Items]
Net sales	11,602	7,449	21,805	15,643
International \| Unique configuration
Disaggregation of Revenue [Line Items]
Net sales	9,993	6,123	18,783	12,624
International \| Limited configuration
Disaggregation of Revenue [Line Items]
Net sales	7,302	14,285	12,541	25,786
International \| Service and other
Disaggregation of Revenue [Line Items]
Net sales	$ 2,226	$ 2,060	$ 4,243	$ 4,128

Earnings Per Share ("EPS") (Tables)

6 Months Ended

Oct. 28, 2023

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

The following is a reconciliation of the net income (loss) and common share amounts used in the calculation of basic and diluted EPS for the three and six months ended October 28, 2023 and October 29, 2022:


	Three Months Ended				Six Months Ended
	October 28, 2023		October 29, 2022		October 28, 2023		October 29, 2022
Earnings per share - basic
Net income (loss)	$	2,165	$	(12,984)	$	21,361	$	(18,310)
Weighted average shares outstanding	46,030		45,317		45,838		45,258
Basic earnings (loss) per share	$	0.05	$	(0.29)	$	0.47	$	(0.40)

Earnings per share - diluted
Net income (loss)	$	2,165	$	(12,984)	$	21,361	$	(18,310)

Diluted net income (loss)	$	2,165	$	(12,984)	$	21,361	$	(18,310)

Weighted average common shares outstanding	46,030		45,317		45,838		45,258
Dilution associated with stock compensation plans	675		—		616		—
Dilution associated with convertible note	—		—		—		—
Weighted average common shares outstanding, assuming dilution	46,705		45,317		46,454		45,258

Diluted earnings (loss) per share	$	0.05	$	(0.29)	$	0.46	$	(0.40)

Financing Agreements - Schedule of Long-Term Debt Instruments (Details) - USD ($) $ in Thousands	Oct. 28, 2023	Apr. 29, 2023
Debt Instrument [Line Items]
Long-term debt, gross	$ 39,625
Debt issuance costs, net	(948)	$ 0
Change in fair value of convertible note	17,910	0
Current portion	(1,500)	0
Long-term debt, net	55,087	17,750
ABL credit facility/prior line of credit \| ABL credit facility/prior line of credit
Debt Instrument [Line Items]
Long-term debt, gross	0	17,750
Mortgage
Debt Instrument [Line Items]
Long-term debt, gross	14,625	0
Convertible note
Debt Instrument [Line Items]
Long-term debt, gross	$ 25,000	$ 0

Segment Reporting - Schedule of Revenue From External Customers, By Geographical Areas (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 28, 2023	Oct. 29, 2022	Oct. 28, 2023	Oct. 29, 2022
Disaggregation of Revenue [Line Items]
Net sales	$ 199,369	$ 187,439	$ 431,900	$ 359,359
United States
Disaggregation of Revenue [Line Items]
Net sales	178,144	163,142	392,737	312,580
Outside United States
Disaggregation of Revenue [Line Items]
Net sales	$ 21,225	$ 24,297	$ 39,163	$ 46,779

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479941/924-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-4

+ Details

Segment Reporting (Details Textual)	6 Months Ended
Segment Reporting (Details Textual)	Oct. 28, 2023 segment
Segment Reporting [Abstract]
Number of reportable segments	5

Income Taxes (Details Textual) $ in Thousands	3 Months Ended	6 Months Ended
Income Taxes (Details Textual) $ in Thousands	Oct. 28, 2023 USD ($)	Oct. 28, 2023 USD ($)
Income Tax Disclosure [Abstract]
Tax rate expense (benefit)	64.80%	37.60%
Unrecognized tax benefits	$ 527	$ 527