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Property, Plant, and Equipment - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2022
Property Plant And Equipment [Line Items]
Depreciation and amortization expense	$ 32,558	$ 31,436	$ 30,073
Software
Property Plant And Equipment [Line Items]
Depreciation and amortization expense	$ 32,000	$ 31,000	$ 29,500

Leases - Additional Information (Detail) - USD ($)		12 Months Ended
Leases - Additional Information (Detail) - USD ($)	Jul. 16, 2022	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2022
Lessee Lease Description [Line Items]
Operating lease cost		$ 1,500,000
Short-term operating lease costs		98,000
Finance lease amortization		2,300,000
Financing lease interest expense		$ 1,900,000
Operating leases, weighted average lease term		2 years 2 months 12 days
Operating leases, weighted average discount rate		3.20%
Financing leases, weighted average lease term		14 years 4 months 24 days
Financing leases, weighted average discount rate		5.00%
Percentage of sublease	64.70%
Income related to sublease agreement		$ 2,700,000
Cash paid for amounts included in measurement of liabilities and operating cash flows		4,600,000
General And Administrative		$ 65,484,000	$ 61,604,000	$ 72,493,000
National Logistics Facility [Member]
Lessee Lease Description [Line Items]
Percentage of sublease		59.00%
General and Administrative Expense
Lessee Lease Description [Line Items]
Income related to sublease agreement		$ 1,300,000
Interest Expense, Net
Lessee Lease Description [Line Items]
Income related to sublease agreement		$ 1,400,000

Employer Sponsored Benefit Plans	12 Months Ended
Apr. 30, 2024
Retirement Benefits [Abstract]
Employer Sponsored Benefit Plans	13. Employer Sponsored Benefit Plans Contributory Defined Investment Plan — We offer two contributory defined investment plans covering substantially all employees, subject to service requirements. Employees may contribute up to 100% of their annual pay, depending on the plan. We generally make discretionary matching contributions of up to 50% of the first 6% of employee contributions to the plan. We contributed $2.7 million, $2.6 million, and $2.9 million for the fiscal years ended April 30, 2024, 2023, and 2022, respectively. Nonelective Contribution Sharing Plan — We have a non-contributory profit sharing plan covering substantially all of our employees. Employees become eligible on May 1 following the completion of a full fiscal year of continuous service. Our contributions to the plan are discretionary. For fiscal 2024, we plan to contribute approximately $9.1 million, which has been recorded in general and administrative costs. We contributed $8.2 million and $13.5 million for the fiscal years ended April 30, 2023 and 2022, respectively. Contributions are funded after the fiscal year-end.

Employer Sponsored Benefit Plans

12 Months Ended

Apr. 30, 2024

Retirement Benefits [Abstract]

Employer Sponsored Benefit Plans

13. Employer Sponsored Benefit Plans

Contributory Defined Investment Plan — We offer two contributory defined investment plans covering substantially all employees, subject to service requirements. Employees may contribute up to 100% of their annual pay, depending on the plan. We generally make discretionary matching contributions of up to 50% of the first 6% of employee contributions to the plan. We contributed $2.7 million, $2.6 million, and $2.9 million for the fiscal years ended April 30, 2024, 2023, and 2022, respectively.

Nonelective Contribution Sharing Plan — We have a non-contributory profit sharing plan covering substantially all of our employees. Employees become eligible on May 1 following the completion of a full fiscal year of continuous service. Our contributions to the plan are discretionary. For fiscal 2024, we plan to contribute approximately $9.1 million, which has been recorded in general and administrative costs. We contributed $8.2 million and $13.5 million for the fiscal years ended April 30, 2023 and 2022, respectively. Contributions are funded after the fiscal year-end.

- Definition

The entire disclosure for retirement benefits.

+ References

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+ Details

Stockholders' Equity

12 Months Ended

Apr. 30, 2024

Equity [Abstract]

Stockholders' Equity

12. Stockholders’ Equity

Treasury Stock

On September 19, 2023, our Board of Directors authorized the repurchase of $50.0 million of our common stock, subject to certain conditions, in the open market or in privately negotiated transactions through September 19, 2024. During fiscal 2024, we purchased 793,551 shares of our common stock for $10.2 million under this authorization. We did not purchase any shares of our common stock during fiscal 2023, and we did not have an authorized repurchase program as of April 30, 2023. During fiscal 2022, we repurchased 1,967,420 of our common stock for $40.0 million, utilizing cash on hand under an available program that our Board of Directors authorized in fiscal 2021. On June 15, 2021, our Board of Directors authorized the repurchase of an additional $50.0 million of our common stock, subject to certain conditions, in the open market or in privately negotiated transactions. Pursuant to this authorization, during fiscal 2022, we completed this repurchase program by purchasing 2,788,152 shares of our common stock for $50.0 million, utilizing cash on hand.

Incentive Stock and Employee Stock Purchase Plans

We have two stock incentive plans: the 2013 Incentive Stock Plan and the 2022 Incentive Stock Plan. New grants under the 2013 Incentive Stock Plan have not been made since our stockholders approved the 2022 Incentive Stock Plan at our annual meeting of stockholders held on September 12, 2022. All new grants covering participants are issued under the 2022 Incentive Stock Plan.

The 2022 Incentive Stock Plan authorizes the issuance of 1,000,000 shares, plus 4,312,247 shares that were reserved and remained available for grant and delivery under the 2013 Incentive Stock Plan as of September 12, 2022, the effective date of the 2022 Incentive Stock Plan. The 2022 Incentive Stock Plan permits the grant of options to acquire common stock, restricted stock awards, restricted stock units, or RSUs, stock appreciation rights, bonus stock and awards in lieu of obligations, performance awards, and dividend equivalents. Our Board of Directors, or a committee of our board, administers the stock plans, selects recipients to whom awards are granted, and determines the grants to be awarded. Options granted under the stock plans are exercisable at a price determined by our Board of Directors or a committee of our board at the time of grant, but in no event, less than fair market value of our common stock on the effective date of the grant. Grants of options may be made to employees and directors without regard to any performance measures. All options issued pursuant to the stock plans are generally nontransferable and subject to forfeiture.

Unless terminated earlier by our Board of Directors, the 2022 Incentive Stock Plan will terminate at the earliest of (1) the tenth anniversary of the effective date of the 2022 Incentive Stock Plan, or (2) such time as no shares of common stock remain available for issuance under the plan and we have no further rights or obligations with respect to outstanding awards under the plan. The date of grant of an award is deemed to be the effective date upon which our Board of Directors or a committee authorizes the granting of such award.

Except in specific circumstances, grants of stock options vest over a period of four years and are exercisable for a period of 10 years after vesting. The 2022 Incentive Stock Plan also permits the grant of stock options to non-employees, which our Board of Directors or a committee has authorized in the past. There were no outstanding and exercisable stock options in fiscal 2024, 2023, and 2022.

The following table summarizes stock compensation expense by line item for the fiscal years ended April 30, 2024, 2023, and 2022 (in thousands):


	For the Year Ended April 30,
	2024		2023		2022
Cost of sales	$	648	$	667	$	809
Research and development		77		80		61
Selling, marketing, and distribution		930		814		844
General and administrative		4,028		3,541		2,822
Total stock-based compensation	$	5,683	$	5,102	$	4,536

As of April 30, 2024, there were 5,420,444 shares available for grant under the 2022 Incentive Stock Plan. We use our unissued share pool for all shares issued for options, restricted stock awards, RSUs, performance share units, performance-based restricted stock units, or PSUs, and shares issued under our Employee Stock Purchase Plan, or ESPP.

We grant service-based RSUs to employees, consultants, and directors. The awards are made at no cost to the recipient. An RSU represents the right to acquire one share of our common stock and does not carry voting or dividend rights. Except in specific circumstances, RSU grants to employees and consultants generally vest over a period of three or four years with one-third or one-fourth of the units vesting, respectively, on each anniversary date of the grant date. RSU grants to directors generally vest over a period of one year with one-twelfth of the units vesting each month. The aggregate fair value of our RSU grants is amortized to compensation expense over the applicable vesting period.

We grant PSUs to our executive officers. At the time of grant, we calculate the fair value of our PSUs using the Monte-Carlo simulation. We incorporate the following variables into the valuation model:


	For the Year Ended April 30,
	2024			2023			2022
Grant date fair market value
Smith & Wesson Brands, Inc	$	12.08		$	14.19		$	18.67
Russell 2000 Index	$	1,769.21		$	2,015.04		$	2,277.45
Volatility (a)
Smith & Wesson Brands, Inc		58.46	%		64.77	%		62.33	%
Russell 2000 Index		27.08	%		31.75	%		30.69	%
Correlation coefficient (b)		0.3528			0.2094			0.1540
Risk-free interest rate (c)		3.81	%		2.91	%		0.33	%
Dividend yield		3.31	%		2.26	%		1.07	%

(a)

Expected volatility is calculated over the most recent period that represents the remaining term of the performance period as of the valuation date, or three years.

(b)

The correlation coefficient utilizes the same historical price data used to develop the volatility assumptions.

(c)

The risk-free interest rate is based on the yield of a zero-coupon U.S. Treasury bill, commensurate with the three-year performance period.

The PSUs vest, and the fair value of such PSUs are recognized, over the corresponding three-year performance period. Our PSUs have a maximum aggregate award equal to 200% of the target amount granted. Generally, the number of PSUs that may be earned depends upon the total stockholder return, or TSR, of our common stock compared with the TSR of the Russell 2000 Index, or RUT, over the three-year performance period. For PSUs, our stock must outperform the RUT by 5% in order for the target award to vest. In addition, there is a cap on the number of shares that can be earned under our PSUs, which is equal to six times the grant-date value of each award.

In connection with the spin-off of AOUT and in accordance with the terms of the Employee Matters Agreement between us and AOUT, all outstanding PSU awards were adjusted such that the performance criteria relative to SWBI share price was modified to compare the market cap of SWBI for the 90 days subsequent to the original grant date to the combined market cap of SWBI and AOUT for the 90 days preceding the original vest date. The change in the market cap will be compared to the change in the value of the Russell 2000 index for the same period. In addition, a pro rata number of AOUT PSUs were granted at the time of the spin to each SWBI PSU recipient with the same terms as the underlying original SWBI PSU.

In certain circumstances, the vested awards will be delivered on the first anniversary of the applicable vesting date. We have applied a discount to the grant date fair value when determining the amount of compensation expense to be recorded for these RSUs and PSUs.

During fiscal 2024, we granted 176,583 PSUs to certain of our executive officers. We also granted 357,357 service-based RSUs during fiscal 2024, including 117,724 RSUs to certain of our executive officers, 58,819 RSUs to our directors, and 180,814 RSUs to non-executive officer employees.

During fiscal 2024, we canceled 158,100 market-condition PSUs as a result of the failure to satisfy the performance metric. We canceled 24,385 service-based RSUs as a result of the service period condition not being met. We delivered 228,087 shares of common stock to current employees and directors under vested RSUs with a total market value of $2.7 million. In addition, in connection with a 2019 grant, which vested in fiscal 2023, we delivered 55,726 market-condition PSUs to certain of our executive officers and a former executive officer with a total market value of $664,000.

During fiscal 2023, we granted 108,736 PSUs to certain of our executive officers. We also granted 287,854 service-based RSUs during fiscal 2023, including 72,494 RSUs to certain of our executive officers, 56,497 RSUs to our directors, and 158,863 RSUs to non-executive officer employees.

During fiscal 2023, we canceled 35,179 service-based RSUs as a result of the service period condition not being met. We delivered 202,859 shares of common stock to current employees under vested RSUs with a total market value of $2.7 million. In addition, in connection with a 2018 grant, which vested in fiscal 2022, we delivered 83,586 market-condition PSUs to certain of our executive officers and a former executive officer with a total market value of $1.2 million. In addition, in connection with a 2019 grant, 57,600 PSUs vested to certain of our executive officers and a former executive officer, which resulted from achieving the maximum performance of 200.0% of target for the original 28,800 PSUs granted. Relating to this same grant, 1,874 shares were released to cover tax obligations on the vesting.

During fiscal 2022, we granted 73,913 PSUs to certain of our executive officers and a former executive officer. We also granted 184,767 service-based RSUs during fiscal 2022, including 65,518 RSUs to certain of our executive officers and a former executive officer, 42,702 RSUs to our directors, and 76,547 RSUs to non-executive officer employees.

During fiscal 2022, we canceled 45,249 service-based RSUs as a result of the service period condition not being met. We canceled 40,869 PSUs as a result of the service period condition not being met. We delivered 365,736 shares of common stock to current employees under vested RSUs with a total market value of $7.5 million. In addition, in connection with a 2018 grant, we vested 86,400 market-condition PSUs to certain of our executive officers and a former executive officer, which resulted from achieving the maximum performance of 200.0% of target for the original 43,200 PSUs granted. Related to this same grant, we released 2,814 market-condition PSUs to cover tax obligations as a result of the vesting.

The grant date fair value of RSUs and PSUs that vested in fiscal 2024, 2023, and 2022 was $3.3 million, $4.0 million, and $4.4 million, respectively.

A summary of activity for unvested RSUs and PSUs for fiscal years 2024, 2023, and 2022 is as follows:


	For the Year Ended April 30,
	2024						2023						2022
					Weighted						Weighted					Weighted
	Total # of				Average		Total # of				Average		Total # of			Average
	Restricted				Grant Date		Restricted				Grant Date		Restricted			Grant Date
	Stock Units				Fair Value		Stock Units				Fair Value		Stock Units			Fair Value
RSUs and PSUs outstanding, beginning of period		932,705			$	13.14		830,813			$	13.30		995,879		$	11.14
Awarded		533,940				12.07		425,390		(a)		13.52		301,880			18.95
Released		(283,813	)	(b)		11.54		(288,319	)			13.92		(368,550	)		11.99
Forfeited		(182,485	)			10.83		(35,179	)			15.17		(98,396	)		12.29
RSUs and PSUs outstanding, end of period		1,000,347			$	13.45		932,705			$	13.14		830,813		$	13.30

_____________________

(a)

Includes 28,800 PSUs that vested during the fiscal year in connection with achieving maximum performance targets for the 2019 grants.

(b)

Includes 55,726 PSUs that vested during fiscal 2023.

As of April 30, 2024, there was $3.8 million of unrecognized compensation cost related to unvested RSUs and PSUs. This cost is expected to be recognized over a weighted average remaining contractual term of 1.3 years.

We had an ESPP that commenced on September 26, 2011, or the 2011 ESPP, which authorized the sale of up to 6,000,000 of our common stock to employees. The 2011 ESPP continued in effect for a term of 10 years and expired with the offering period that ended March 31, 2022. All options and rights to participate in the 2011 ESPP are nontransferable and subject to forfeiture in accordance with the 2011 ESPP guidelines. As of April 30, 2022, we had issued 1,948,334 shares of common stock under the 2011 ESPP, all of which were purchased prior to April 30, 2022. During fiscal 2022, 128,422 shares were purchased under the 2011 ESPP, respectively.

On September 27, 2021, our stockholders approved our 2021 ESPP, which authorizes the sale of up to 3,000,000 shares of our common stock to employees. All options and rights to participate in our ESPP are nontransferable and subject to forfeiture in accordance with our ESPP guidelines. Our current ESPP will be implemented in a series of successive offering periods, each with a maximum duration of 12 months. If the fair market value, or FMV, per share of our common stock on any purchase date is less than the FMV per share on the start date of a 12-month offering period, then that offering period will automatically terminate, and a new 12-month offering period will begin on the next business day. Each offering period will begin on April 1 or October 1, as applicable, immediately following the end of the previous offering period. Payroll deductions will be on an after-tax basis, in an amount of not less than 1% and not more than 20% (or such greater percentage as the committee appointed to administer our ESPP may establish from time to time before the first day of an offering period) of a participant’s compensation on each payroll date. The option exercise price per share will equal 85% of the lower of the FMV on the first day of the offering period or the FMV on the exercise date. The maximum number of shares that a participant may purchase during any purchase period is 12,500 shares, or a total of $25,000 in shares, based on the FMV on the first day of the offering period. Our ESPP will remain in effect until the earliest of (a) the exercise date that participants become entitled to purchase a number of shares greater than the number of reserved shares available for purchase under our ESPP, (b) such date as is determined by our board of directors in its discretion, or (c) March 31, 2022. In the event of certain corporate transactions, each option outstanding under our ESPP will be assumed or an equivalent option will be substituted by the successor corporation or a parent or subsidiary of such successor corporation. During fiscal 2024 and 2023, 151,225 and 175,047 shares were purchased under the 2021 ESPP, respectively.

We measure the cost of employee services received in exchange for an award of an equity instrument based on the grant-date fair value of the award. We calculate the fair value of our stock options issued to employees using the Black-Scholes model at the time the options were granted. That amount is then amortized over the vesting period of the option. With our ESPP, fair value is determined at the beginning of the purchase period and amortized over the term of each exercise period.

The following assumptions were used in valuing our ESPP purchases during the years ended April 30, 2024, 2023, and 2022:


	For the Year Ended April 30,
	2024			2023			2022
Risk-free interest rate		5.225	%		4.301	%		0.682	%
Expected term	6 months			6 months			6 months
Expected volatility		45.69	%		49.18	%		60.62	%
Dividend yield		3.27	%		3.59	%		1.85	%

We estimate expected volatility using historical volatility for the expected term. The fair value of each stock option or ESPP purchase was estimated on the date of the grant using the Black-Scholes option pricing model (using the risk-free interest rate, expected term, expected volatility, and dividend yield variables, as noted in the above table). The total stock-based compensation expense, including stock options, purchases under our ESPP, and RSU and PSU awards, was $5.7 million, $5.1 million, and $4.5 million, for fiscal years 2024, 2023, and 2022, respectively.

- Definition

The entire disclosure for equity.

+ References

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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 16
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-16

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

+ Details

Accrued Expenses and Deferred Revenue

12 Months Ended

Apr. 30, 2024

Payables and Accruals [Abstract]

Accrued Expenses and Deferred Revenue

9. Accrued Expenses and Deferred Revenue

The following table sets forth other accrued expenses as of April 30, 2024 and 2023 (in thousands):


	April 30, 2024		April 30, 2023
Accrued taxes other than income	$	5,838	$	3,703
Accrued professional fees		4,925		2,596
Accrued other		4,423		4,597
Accrued settlement		3,200		—
Accrued employee benefits		2,742		3,256
Accrued distributor incentives		1,687		1,640
Current portion of finance lease obligation		1,564		1,434
Accrued rebates and promotions		1,485		1,649
Current portion of operating lease obligation		947		1,274
Total accrued expenses and deferred revenue	$	26,811	$	20,149

Income Taxes - Additional Information (Detail) - USD ($)	12 Months Ended
	Apr. 30, 2024	Apr. 30, 2023
Income Tax Contingency [Line Items]
Federal income taxes, expected statutory rate	21.00%
Effective income tax rate, provisions (benefit)	19.80%	23.50%
Accrued interest and penalties	$ 0
Gross tax-effected unrecognized tax benefits	0
Federal
Income Tax Contingency [Line Items]
Net operating loss carryforwards	0
State
Income Tax Contingency [Line Items]
Net operating loss carryforwards	27,100,000	$ 17,700,000
Tax credit carryforwards	$ 3,300,000	2,800,000
State tax credit carryforwards expire date	Apr. 30, 2049
Valuation allowances for net operating loss carryforward	$ 1,400,000	957,000
Valuation allowances for tax credits	$ 1,900,000	$ 2,200,000
State \| Minimum
Income Tax Contingency [Line Items]
Operating loss carry forwards expiration dates	Apr. 30, 2027
State \| Maximum
Income Tax Contingency [Line Items]
Operating loss carry forwards expiration dates	Apr. 30, 2040

Leases - Summary of Future Expected Undiscounted Cash Flows (Details) $ in Thousands	Apr. 30, 2024 USD ($)
Leases [Abstract]
2025	$ 3,180
2026	3,235
2027	3,292
2028	3,350
2029	3,408
Thereafter	35,498
Total future sublease receipts	51,963
Less amounts representing interest	(15,607)
Present value of sublease receipts	$ 36,356

Accrued Expenses and Deferred Revenue - Summary of Accrued Expenses (Detail) - USD ($) $ in Thousands	Apr. 30, 2024	Apr. 30, 2023
Accrued taxes other than income	$ 5,838	$ 3,703
Accrued professional fees	4,925	2,596
Accrued other	4,423	4,597
Accrued settlement	3,200	0
Accrued employee benefits	2,742	3,256
Accrued distributor incentives	1,687	1,640
Current portion of finance lease obligation	$ 1,564	$ 1,434
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	Total accrued expenses and deferred revenue	Total accrued expenses and deferred revenue
Accrued rebates and promotions	$ 1,485	$ 1,649
Current portion of operating lease obligation	$ 947	$ 1,274
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Total accrued expenses and deferred revenue	Total accrued expenses and deferred revenue
Total accrued expenses and deferred revenue	$ 26,811	$ 20,149

Stockholders' Equity - Summary of Stock Compensation Expense (Detail) - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 5,683	$ 5,102	$ 4,536
Cost of sales
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	648	667	809
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	77	80	61
Selling, marketing, and distribution
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	930	814	844
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 4,028	$ 3,541	$ 2,822

- 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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 1D
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480483/718-10-35-1D

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480483/718-10-35-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 2
-Subparagraph (a)(3)
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-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Section 50
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-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(01)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Paragraph 2
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-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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Reference 20: http://www.xbrl.org/2003/role/disclosureRef
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Reference 21: http://www.xbrl.org/2003/role/disclosureRef
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Reference 22: http://www.xbrl.org/2003/role/disclosureRef
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Reference 24: http://www.xbrl.org/2003/role/disclosureRef
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Reference 25: http://www.xbrl.org/2003/role/disclosureRef
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Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Section 50
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Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
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-Paragraph 2
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-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(v)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

+ Details

Stockholders' Equity - Schedule of Assumptions used in Valuing ESPP Purchases (Detail) - Employee Stock Purchase Plan	12 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	5.225%	4.301%	0.682%
Expected term	6 months	6 months	6 months
Expected volatility	45.69%	49.18%	60.62%
Dividend yield	3.27%	3.59%	1.85%

- 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

Net Sales - Breakdown of Net sale (Detail) - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2022
Segment Reporting Revenue Reconciling Item [Line Items]
Total Net Sales	$ 535,833	$ 479,242	$ 864,126
Handguns
Segment Reporting Revenue Reconciling Item [Line Items]
Total Net Sales	381,898	360,668	624,219
Long Guns
Segment Reporting Revenue Reconciling Item [Line Items]
Total Net Sales	116,491	74,230	189,467
Other products and services
Segment Reporting Revenue Reconciling Item [Line Items]
Total Net Sales	$ 37,444	$ 44,344	$ 50,440

- 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

Advertising Costs - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2022
Selling, marketing, and distribution
Advertising Costs [Line Items]
Advertising expense for continuing operations	$ 14.7	$ 14.7	$ 17.5

Income Taxes

12 Months Ended

Apr. 30, 2024

Income Tax Disclosure [Abstract]

Income Taxes

14. Income Taxes

Income tax expense/(benefit) from continuing operations consisted of the following (in thousands):


	For the Year Ended April 30,
	2024			2023			2022
Current:
Federal	$	6,315		$	16,259		$	52,843
State		2,637			1,955			7,174
Total current		8,952			18,214			60,017
Deferred:
Federal		2,558			(6,217	)		(1,889	)
State		(1,723	)		(647	)		(236	)
Total deferred		835			(6,864	)		(2,125	)
Total income tax expense	$	9,787		$	11,350		$	57,892

The following table presents a reconciliation of income tax expense from continuing operations at the statutory rate of 21% to the expense/(benefit) in the consolidated financial statements (in thousands):


	For the Year Ended April 30,
	2024			2023			2022
Federal income taxes expected at the statutory rate	$	10,373		$	10,127		$	53,001
State income taxes, net of federal tax effects		(225	)		1,023			5,503
Stock compensation		467			136			(749	)
Business meals and entertainment		100			89			118
Research and development tax credit		(281	)		(265	)		(300	)
Amendments to prior year returns		(1,176	)		—			—
Other		529			240			319
Total income tax expense	$	9,787		$	11,350		$	57,892

Deferred tax assets and liabilities related to temporary differences consisted of the following (in thousands):


	For the Years Ended April 30,
	2024			2023
Deferred Tax Assets
Inventory reserves	$	8,489		$	7,495
Accrued expenses, including compensation		4,678			4,764
Net operating loss carryforwards and tax credits		3,988			3,156
Operating lease liability		240			473
Product liability		191			596
Workers' compensation		704			477
State bonus depreciation		1,812			755
Warranty reserve		1,017			913
Stock-based compensation		1,319			1,551
Section 174 capitalized R&D expense		2,502			1,549
Other		820			622
Total deferred tax assets before valuation allowance		25,760			22,351
Valuation allowance		(3,350	)		(3,031	)
Net deferred tax assets		22,410			19,320
Deferred Tax Liabilities
Operating lease right-of-use assets		(197	)		(420	)
Property, plant & equipment		(12,426	)		(8,847	)
Intangible assets		(2,270	)		(1,581	)
Other		(268	)		(387	)
Total deferred tax liabilities		(15,161	)		(11,235	)
Net Deferred Tax Asset/(Liability)	$	7,249		$	8,085

We had no federal net operating losses as of April 30, 2024.

We had $27.1 million and $17.7 million in state net operating loss carryforwards as of April 30, 2024 and 2023, respectively. The state net operating loss carryforwards will expire between April 30, 2027 and April 30, 2040. We had $3.3 million and $2.8 million of state tax credit carryforwards as of April 30, 2024 and 2023, respectively. Certain state tax credit carryforwards will expire by April 30, 2049, with others having no expiration date.

As of April 30, 2024 and 2023, valuation allowances related to our deferred tax assets for state net operating loss carryforwards were $1.4 million and $957,000, respectively, and $1.9 million and $2.2 million were provided on our deferred tax assets for state tax credits, respectively, that we do not anticipate using prior to expiration.

The income tax provisions represent effective tax rates of 19.8% and 23.5% for fiscal 2024 and 2023, respectively.

With limited exception, we are subject to U.S. federal, state, and local income tax audits by tax authorities for fiscal years subsequent to April 30, 2019.

At April 30, 2024 and 2023, we have not recorded any unrecognized tax benefits. We maintain an accounting policy of recording interest and penalties, if applicable, related to uncertain tax positions as a component of income taxes. As of April 30, 2024 and 2023, there were no interest and penalties accrued.

- 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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
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-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

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-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

Significant Accounting Policies (Tables)

12 Months Ended

Apr. 30, 2024

Accounting Policies [Abstract]

Summary of Estimated Useful Lives

A summary of the estimated useful lives is as follows:


Description	Useful Life
Building and improvements		10 to 40 years
Software and hardware		2 to 7 years
Machinery and equipment		2 to 10 years

Reconciliation of Net Income/(Loss) Amounts and Weighted Average Number of Common and Common Equivalent Shares Used to Determine Basic and Diluted (Loss)/Earnings per Common Share

The following table provides a reconciliation of the net income amounts and weighted average number of common and common equivalent shares used to determine basic and diluted earnings per common share (in thousands, except per share data):


	For the Year Ended April 30,
	2024		2023		2022
Net income	$	39,609	$	36,876	$	194,494
Weighted average shares outstanding — Basic		45,813		45,844		47,227
Effect of dilutive stock awards		436		326		501
Weighted average shares outstanding — Diluted		46,248		46,170		47,728
Earnings per share — Basic	$	0.86	$	0.80	$	4.12
Earnings per share — Diluted	$	0.86	$	0.80	$	4.08

Change in Accrued Warranties Recorded as Non-Current Liability

The following table sets forth the change in accrued warranties, a portion of which is recorded as a non-current liability, in the fiscal years ended April 30, 2024, 2023, and 2022 (in thousands):



Balance as of April 30, 2022	$	4,873
Warranties issued and adjustments to provisions		1,496
Warranty claims		(2,364	)
Balance as of April 30, 2023		4,005
Warranties issued and adjustments to provisions		2,560
Warranty claims		(2,681	)
Balance as of April 30, 2024	$	3,884

Restructuring (Tables)

12 Months Ended

Apr. 30, 2024

Restructuring Costs [Abstract]

Schedule of Components of Restructuring Charges

The following table summarizes restructuring charges by line item for fiscal 2024 and fiscal 2023 (in thousands):


	For the Year Ended April 30,
	2024		2023
Cost of sales	$	2,116	$	3,923
Research and development		—		3
Selling, marketing, and distribution		2,974		1,055
General and administrative		1,963		3,280
Total restructuring charges	$	7,053	$	8,261

The components of the restructuring charges recorded in our consolidated statements of income are as follows (in thousands):


	For the Year Ended April 30,
	2024			2023
Office rent and equipment	$	2,298		$	229
Employee relations		2,011			349
Consulting services		992			473
Public relations		904			—
Relocation (a)		887			2,856
Freight		199			—
Severance and employee-related benefits (a)		(238	)		4,354
Total restructuring charges	$	7,053		$	8,261

____________________________________

(a)

Recorded in accrued payroll and incentives

Schedule of Severance and employee related benefits and Relocation accruals

The following table summarizes the activity in the severance and employee-related benefits and relocation accruals for fiscal 2024 and fiscal 2023 (in thousands):


	Severance and employee-related benefits			Relocation			Total
Accrual at April 30, 2023	$	10,054		$	1,746		$	11,800
Charges		(238	)		887			649
Cash payments and settlements		(4,289	)		(1,805	)		(6,094	)
Accrual at April 30, 2024 (a)	$	5,527		$	828		$	6,355

___________________________________

(a)

Recorded in accrued payroll and incentives

Income Taxes - Reconciliation of Provision for Income Taxes from Continuing Operations (Detail) - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2022
Income Tax Disclosure [Abstract]
Federal income taxes expected at the statutory rate	$ 10,373	$ 10,127	$ 53,001
State income taxes, net of federal tax effects	(225)	1,023	5,503
Stock compensation	467	136	(749)
Business meals and entertainment	100	89	118
Research and development tax credit	(281)	(265)	(300)
Amendments to prior year returns	(1,176)	0	0
Other	529	240	319
Total income tax expense	$ 9,787	$ 11,350	$ 57,892

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Restructuring (Additional Information) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2024	Apr. 30, 2023
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 7,053	$ 8,261
Cost of Goods Sold [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 2,116	$ 3,923

- 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

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Apr. 30, 2024	Apr. 30, 2023
Statement of Financial Position [Abstract]
Allowance for credit losses	$ 0	$ 23
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	20,000,000	20,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	75,395,490	75,029,300
Common stock, shares outstanding	45,561,569	45,988,930
Treasury stock, shares	29,833,921	29,040,370

Self-Insurance Reserves - Summary of Other Liabilities (Detail) - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2024	Apr. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Beginning balance	$ 9,239	$ 8,676
Additional provision charged to expense	2,921	3,589
Payments	(3,461)	(3,026)
Ending balance	$ 8,699	$ 9,239

Significant Accounting Policies - Change in Accrued Warranties Recorded as Non-Current Liability (Detail) - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2024	Apr. 30, 2023
Accounting Policies [Abstract]
Beginning Balance	$ 4,005	$ 4,873
Warranties issued and adjustments to provisions	2,560	1,496
Warranty claims	(2,681)	(2,364)
Ending Balance	$ 3,884	$ 4,005

Property, Plant, and Equipment

12 Months Ended

Apr. 30, 2024

Property, Plant and Equipment [Abstract]

Property, Plant, and Equipment

7. Property, Plant, and Equipment

The following table summarizes property, plant, and equipment as of April 30, 2024 and 2023 (in thousands):


	April 30, 2024				April 30, 2023
Machinery and equipment	$	337,772		$		308,852
Building and improvements		154,507				40,131
Software and hardware		52,750				49,569
Land and improvements		3,109				2,945
Right of use assets		41,631				41,631
		589,769				443,128
Less: Accumulated depreciation and amortization		(352,615	)			(334,383	)
		237,154				108,745
Construction in progress		15,479				101,585
Total property, plant, and equipment, net	$	252,633		$		210,330

Depreciation of tangible assets and amortization of software expense amounted to $32.0 million, $31.0 million, and $29.5 million for the fiscal years ended April 30, 2024, 2023, and 2022, respectively.

The following table summarizes depreciation and amortization expense, which includes amortization of intangibles and debt financing costs, by line item for the fiscal years ended April 30, 2024, 2023, and 2022 (in thousands):


	For the Years Ended April 30,
	2024		2023		2022
Cost of sales	$	20,607	$	22,205	$	21,879
Research and development		533		529		484
Selling, marketing, and distribution		3,635		1,524		509
General and administrative		7,693		7,088		7,111
Interest expense		90		90		90
Total depreciation and amortization	$	32,558	$	31,436	$	30,073

Stockholders' Equity (Tables)

12 Months Ended

Apr. 30, 2024

Equity [Abstract]

Summary of Stock Compensation Expense

The following table summarizes stock compensation expense by line item for the fiscal years ended April 30, 2024, 2023, and 2022 (in thousands):


	For the Year Ended April 30,
	2024		2023		2022
Cost of sales	$	648	$	667	$	809
Research and development		77		80		61
Selling, marketing, and distribution		930		814		844
General and administrative		4,028		3,541		2,822
Total stock-based compensation	$	5,683	$	5,102	$	4,536

Share Based Payment Award Performance Shares Valuation Assumptions


	For the Year Ended April 30,
	2024			2023			2022
Grant date fair market value
Smith & Wesson Brands, Inc	$	12.08		$	14.19		$	18.67
Russell 2000 Index	$	1,769.21		$	2,015.04		$	2,277.45
Volatility (a)
Smith & Wesson Brands, Inc		58.46	%		64.77	%		62.33	%
Russell 2000 Index		27.08	%		31.75	%		30.69	%
Correlation coefficient (b)		0.3528			0.2094			0.1540
Risk-free interest rate (c)		3.81	%		2.91	%		0.33	%
Dividend yield		3.31	%		2.26	%		1.07	%

(a)

Expected volatility is calculated over the most recent period that represents the remaining term of the performance period as of the valuation date, or three years.

(b)

The correlation coefficient utilizes the same historical price data used to develop the volatility assumptions.

(c)

The risk-free interest rate is based on the yield of a zero-coupon U.S. Treasury bill, commensurate with the three-year performance period.

Summary of Activity for Unvested RSUs and PSUs

A summary of activity for unvested RSUs and PSUs for fiscal years 2024, 2023, and 2022 is as follows:


	For the Year Ended April 30,
	2024						2023						2022
					Weighted						Weighted					Weighted
	Total # of				Average		Total # of				Average		Total # of			Average
	Restricted				Grant Date		Restricted				Grant Date		Restricted			Grant Date
	Stock Units				Fair Value		Stock Units				Fair Value		Stock Units			Fair Value
RSUs and PSUs outstanding, beginning of period		932,705			$	13.14		830,813			$	13.30		995,879		$	11.14
Awarded		533,940				12.07		425,390		(a)		13.52		301,880			18.95
Released		(283,813	)	(b)		11.54		(288,319	)			13.92		(368,550	)		11.99
Forfeited		(182,485	)			10.83		(35,179	)			15.17		(98,396	)		12.29
RSUs and PSUs outstanding, end of period		1,000,347			$	13.45		932,705			$	13.14		830,813		$	13.30

_____________________

(a)

Includes 28,800 PSUs that vested during the fiscal year in connection with achieving maximum performance targets for the 2019 grants.

(b)

Includes 55,726 PSUs that vested during fiscal 2023.

Schedule of Assumptions used in Valuing ESPP Purchases

The following assumptions were used in valuing our ESPP purchases during the years ended April 30, 2024, 2023, and 2022:


	For the Year Ended April 30,
	2024			2023			2022
Risk-free interest rate		5.225	%		4.301	%		0.682	%
Expected term	6 months			6 months			6 months
Expected volatility		45.69	%		49.18	%		60.62	%
Dividend yield		3.27	%		3.59	%		1.85	%

Property, Plant, and Equipment - Summary of Property, Plant, and Equipment (Detail) - USD ($) $ in Thousands	Apr. 30, 2024	Apr. 30, 2023
Property, Plant and Equipment [Abstract]
Machinery and equipment	$ 337,772	$ 308,852
Building and improvements	154,507	40,131
Software and hardware	52,750	49,569
Land and improvements	3,109	2,945
Right-of-use assets	41,631	41,631
Property plant and equipment gross	589,769	443,128
Less: Accumulated depreciation and amortization	(352,615)	(334,383)
Property plant and equipment before construction in progress	237,154	108,745
Construction in progress	15,479	101,585
Total property, plant, and equipment, net	$ 252,633	$ 210,330

Fair Value Measurement

12 Months Ended

Apr. 30, 2024

Fair Value Disclosures [Abstract]

Fair Value Measurement

10. Fair Value Measurement

We follow the provisions of ASC 820-10, Fair Value Measurements and Disclosures Topic, or ASC 820-10, for our financial assets and liabilities. ASC 820-10 provides a framework for measuring fair value under GAAP and requires expanded disclosures regarding fair value measurements. ASC 820-10 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the

measurement date. ASC 820-10 also establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs, where available, and minimize the use of unobservable inputs when measuring fair value.

Financial assets and liabilities recorded on the accompanying consolidated balance sheets are categorized based on the inputs to the valuation techniques as follows:

Level 1 — Financial assets and liabilities whose values are based on unadjusted quoted prices for identical assets or liabilities in an active market that we have the ability to access at the measurement date (examples include active exchange-traded equity securities, listed derivatives, and most U.S. Government and agency securities).

Our cash and cash equivalents, which are measured at fair value on a recurring basis, totaled $60.8 million and $53.6 million as of April 30, 2024 and 2023, respectively. The carrying value of our revolving line of credit approximated the fair value as of April, 30, 2024. We utilized Level 1 of the value hierarchy to determine the fair values of these assets.

Level 2 — Financial assets and liabilities whose values are based on quoted prices in markets in which trading occurs infrequently or whose values are based on quoted prices of instruments with similar attributes in active markets. Level 2 inputs include the following:

•

quoted prices for identical or similar assets or liabilities in non-active markets (such as corporate and municipal bonds which trade infrequently);

•

inputs other than quoted prices that are observable for substantially the full term of the asset or liability (such as interest rate and currency swaps); and

•

inputs that are derived principally from or corroborated by observable market data for substantially the full term of the asset or liability (such as certain securities and derivatives).

Level 3 — Financial assets and liabilities whose values are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. These inputs reflect our assumptions about the assumptions a market participant would use in pricing the asset or liability.

As of April 30, 2024, we did not have any Level 2 or Level 3 financial assets or liabilities.

Inventories

12 Months Ended

Apr. 30, 2024

Inventory Disclosure [Abstract]

Inventories

8. Inventories

The following table sets forth a summary of inventories, net of reserves, stated at lower of cost or net realizable value, as of April 30, 2024 and 2023 (in thousands):


	April 30, 2024		April 30, 2023
Finished goods	$	83,337	$	93,705
Finished parts		56,282		65,460
Work in process		8,033		6,821
Raw material		12,848		11,132
Total inventories	$	160,500	$	177,118

Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) - $ / shares	12 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2022
Statement [Table]
Dividends issued	$ 0.48	$ 0.4	$ 0.32

- Definition

Schedule reflecting a Statement of Income, Statement of Cash Flows, Statement of Financial Position, Statement of Shareholders' Equity and Other Comprehensive Income, or other statement as needed.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483421/250-10-45-24

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+ Details

Leases (Tables)

12 Months Ended

Apr. 30, 2024

Leases [Abstract]

Schedule of Assets and Liabilities Related to Operating and Financing Leases

The amounts of assets and liabilities related to our operating and financing leases as of April 30, 2024 were as follows (in thousands):


	Balance Sheet Caption	April 30, 2024			April 30, 2023
Operating Leases
Right-of-use assets		$	6,761		$	5,994
Accumulated amortization			(5,411	)		(4,153	)
Right-of-use assets, net	Other assets	$	1,350		$	1,841

Current liabilities	Accrued expenses and deferred revenue	$	947		$	1,274
Non-current liabilities	Other non-current liabilities		574			801
Total operating lease liabilities		$	1,521		$	2,075
Finance Leases
Right-of-use assets		$	41,631		$	41,631
Accumulated depreciation			(11,713	)		(9,448	)
Right-of-use assets, net	Property, plant, and equipment, net	$	29,918		$	32,183

Current liabilities	Accrued expenses and deferred revenue	$	1,564		$	1,434
Non-current liabilities	Finance lease payable, net of current portion		35,404			36,961
Total finance lease liabilities		$	36,968		$	38,395

Summary of Future Expected Undiscounted Cash Flows

The following table represents future expected undiscounted cashflows, based on the Assignment and Assumption Agreement with AOUT, to be received on an annual basis for the next five years and thereafter, as of April 30, 2024 (in thousands):


Fiscal	Amount
2025	$	3,180
2026		3,235
2027		3,292
2028		3,350
2029		3,408
Thereafter		35,498
Total future receipts		51,963
Less amounts representing interest		(15,607	)
Present value of receipts	$	36,356

Summary of Future Lease Payments for Operating and Finance Leases

Future lease payments for all our operating and finance leases for succeeding fiscal years is as follows (in thousands):


	Operating			Financing			Total
2025	$	1,033		$	3,378		$	4,411
2026		301			3,433			3,734
2027		272			3,498			3,770
2028		125			3,416			3,541
2029		—			3,408			3,408
Thereafter		—			35,498			35,498
Total future lease payments		1,731			52,631			54,362
Less amounts representing interest		(210	)		(15,663	)		(15,873	)
Present value of lease payments		1,521			36,968			38,489
Less current maturities of lease liabilities		(947	)		(1,564	)		(2,511	)
Long-term maturities of lease liabilities	$	574		$	35,404		$	35,978

Stockholders' Equity - Share Based Payment Award Performance Shares Valuation Assumptions (Parenthetical) (Detail)	12 Months Ended
	Apr. 30, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance based restricted stock unit performance period	3 years
PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance based restricted stock unit performance period	3 years

- 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

Stockholders' Equity - Summary of Activity for Unvested RSUs and PSUs (Detail) - RSUs and PSUs - $ / shares	12 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2022
Summary of activity in unvested restricted stock units and performance share units
RSUs and PSUs outstanding, beginning of period	932,705	830,813	995,879
RSUs and PSUs, Awarded	533,940	425,390	301,880
RSUs and PSUs, Released	(283,813)	(288,319)	(368,550)
RSUs and PSUs, Forfeited	(182,485)	(35,179)	(98,396)
RSUs and PSUs outstanding, end of period	1,000,347	932,705	830,813
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value
Weighted Average Grant Date Fair Value, RSUs and PSUs outstanding, beginning of period	$ 13.14	$ 13.3	$ 11.14
Weighted Average Grant Date Fair Value, Awarded	12.07	13.52	18.95
Weighted Average Grant Date Fair Value, Released	11.54	13.92	11.99
Weighted Average Grant Date Fair Value, Forfeited	10.83	15.17	12.29
Weighted Average Grant Date Fair Value, RSUs and PSUs outstanding, end of period	$ 13.45	$ 13.14	$ 13.3

Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Income/(Loss)	Treasury Stock
Balance at Apr. 30, 2021	$ 266,384	$ 74	$ 273,431	$ 325,181	$ 73	$ (332,375)
Balance (in shares) at Apr. 30, 2021		74,222,000
Treasury stock (in shares) at Apr. 30, 2021						24,285,000
Stock-based compensation	4,536		4,536
Shares issued under employee stock purchase plan	1,719		1,719
Shares issued under employee stock purchase plan (in shares)		129,000
Issuance of common stock under restricted stock unit awards, net of shares surrendered	(1,584)	$ 1	(1,585)
Issuance of common stock under restricted stock unit awards, net of shares surrendered (in shares)		290,000
Repurchase of treasury stock	(90,000)					$ (90,000)
Repurchase of treasury stock, shares						4,755,000
Dividends issued	(15,035)			(15,035)
Net Income (Loss)	194,494			194,494
Balance at Apr. 30, 2022	360,514	$ 75	278,101	504,640	73	$ (422,375)
Balance (in shares) at Apr. 30, 2022		74,641,000
Treasury stock (in shares) at Apr. 30, 2022						29,040,000
Stock-based compensation	5,102		5,102
Shares issued under employee stock purchase plan	$ 1,528		1,528
Shares issued under employee stock purchase plan (in shares)	175,047	175,000
Issuance of common stock under restricted stock unit awards, net of shares surrendered	$ (1,065)		(1,065)
Issuance of common stock under restricted stock unit awards, net of shares surrendered (in shares)		213,000
Dividends issued	(18,333)			(18,333)
Net Income (Loss)	36,876			36,876
Balance at Apr. 30, 2023	$ 384,623	$ 75	283,666	523,184	73	$ (422,375)
Balance (in shares) at Apr. 30, 2023	45,988,930	75,029,000
Treasury stock (in shares) at Apr. 30, 2023	29,040,370					29,040,000
Stock-based compensation	$ 5,683		5,683
Shares issued under employee stock purchase plan	$ 1,484		1,484
Shares issued under employee stock purchase plan (in shares)	151,225	151,000
Issuance of common stock under restricted stock unit awards, net of shares surrendered	$ (839)		(839)
Issuance of common stock under restricted stock unit awards, net of shares surrendered (in shares)		215,000
Unpaid dividends accrued	(113)			(113)
Repurchase of treasury stock	(10,267)					$ (10,267)
Repurchase of treasury stock, shares						794,000
Dividends issued	(22,020)			(22,020)
Net Income (Loss)	39,609			39,609
Balance at Apr. 30, 2024	$ 398,160	$ 75	$ 289,994	$ 540,660	$ 73	$ (432,642)
Balance (in shares) at Apr. 30, 2024	45,561,569	75,395,000
Treasury stock (in shares) at Apr. 30, 2024	29,833,921					29,834,000

Inventories - Summary of Inventories (Detail) - USD ($) $ in Thousands	Apr. 30, 2024	Apr. 30, 2023
Inventory Disclosure [Abstract]
Finished goods	$ 83,337	$ 93,705
Finished parts	56,282	65,460
Work in process	8,033	6,821
Raw material	12,848	11,132
Total inventories	$ 160,500	$ 177,118

Significant Accounting Policies - Summary of Estimated Useful Lives (Detail)	Apr. 30, 2024
Building and improvements \| Minimum
Property Plant And Equipment [Line Items]
Estimated useful life	10 years
Building and improvements \| Maximum
Property Plant And Equipment [Line Items]
Estimated useful life	40 years
Software and hardware \| Minimum
Property Plant And Equipment [Line Items]
Estimated useful life	2 years
Software and hardware \| Maximum
Property Plant And Equipment [Line Items]
Estimated useful life	7 years
Machinery and equipment \| Minimum
Property Plant And Equipment [Line Items]
Estimated useful life	2 years
Machinery and equipment \| Maximum
Property Plant And Equipment [Line Items]
Estimated useful life	10 years

Self-Insurance Reserves (Tables)

12 Months Ended

Apr. 30, 2024

Commitments and Contingencies Disclosure [Abstract]

Summary of Other Liabilities

The following table summarizes the activity in the workers’ compensation, product liability, municipal liability, and medical/dental reserves in the fiscal years ended April 30, 2024 and 2023 (in thousands):


	For the Year Ended April 30,
	2024			2023
Beginning balance	$	9,239		$	8,676
Additional provision charged to expense		2,921			3,589
Payments		(3,461	)		(3,026	)
Ending balance	$	8,699		$	9,239

Inventories (Tables)

12 Months Ended

Apr. 30, 2024

Inventory Disclosure [Abstract]

Summary of Inventories

The following table sets forth a summary of inventories, net of reserves, stated at lower of cost or net realizable value, as of April 30, 2024 and 2023 (in thousands):


	April 30, 2024		April 30, 2023
Finished goods	$	83,337	$	93,705
Finished parts		56,282		65,460
Work in process		8,033		6,821
Raw material		12,848		11,132
Total inventories	$	160,500	$	177,118

Stockholders' Equity - Additional Information (Detail)		12 Months Ended
Stockholders' Equity - Additional Information (Detail)	Mar. 31, 2022	Apr. 30, 2024 USD ($) Segment shares	Apr. 30, 2023 USD ($) shares	Apr. 30, 2022 USD ($) shares	Apr. 30, 2020 shares	Sep. 19, 2023 USD ($)	Sep. 12, 2022 shares	Sep. 27, 2021 shares	Sep. 26, 2011 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of stock incentive plans \| Segment		2
Vesting, percentage		0.083%
Performance period		3 years
Percentage of maximum aggregate award granted		200.00%
Percentage of stock outperform in order for target award to vest		5.00%
Stock-based compensation expense \| $		$ 5,683,000	$ 5,102,000	$ 4,536,000
Grant date fair value of vested RSUs and PSUs \| $		$ 3,300,000	$ 4,000,000	$ 4,400,000
Shares issued under employee stock purchase plan		151,225	175,047
2011 Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average remaining contractual term	10 years
Option exercise price per share as a percentage of fair market value		85.00%
Number of shares an employee may purchase under the stock purchase plan		12,500
Fair market value of shares an employee may purchase under the stock purchase plan \| $		$ 25,000
Shares issued under employee stock purchase plan				128,422
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock units, awarded		357,357	287,854	184,767
Stock units, forfeited		24,385	35,179	45,249
Stock units, Released		228,087	202,859,000
Grant date fair value of vested RSUs and PSUs \| $		$ 2,700,000	$ 2,700,000
PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period		3 years
Percentage of maximum aggregate award granted			200.00%	200.00%
Stock units, awarded			28,800	43,200
Stock units, forfeited		158,100		40,869
Stock units, Released			55,726		28,800
Stock units released to cover tax obligations			1,874	2,814
RSUs and PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense \| $		$ 3,800,000
Stock units, awarded		533,940	425,390	301,880
Stock units, forfeited		182,485	35,179	98,396
Stock units, Released		283,813	288,319	368,550
Weighted average remaining contractual term		1 year 3 months 18 days
Employees \| RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant date fair value of vested RSUs and PSUs \| $				$ 7,500,000
Employees \| PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock units, Released				365,736
Directors \| RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		1 year
Stock units, awarded		58,819	56,497	42,702
Executive Officer \| RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock units, awarded		117,724	72,494	65,518
Executive Officer \| PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock units, awarded		176,583	108,736	73,913
Stock units, Released		55,726	83,586
Grant date fair value of vested RSUs and PSUs \| $		$ 664,000	$ 1,200,000
Excecutive and former executive officer \| PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock units, awarded			57,600
Stock units, Released				86,400,000
Non-Executive Officer Employees \| RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock units, awarded		180,814	158,863	76,547
2013 Incentive Stock Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Authorized of common stock							1,000,000
Vesting period		4 years
Stock option, exercisable period		10 years
Shares available for grant under incentive stock option							4,312,247
2022 Incentive Stock Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for grant under incentive stock option		5,420,444
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payroll deduction of participant's compensation		20.00%
Maximum \| 2011 Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved under employee stock purchase plan								3,000,000	6,000,000
Maximum \| Employees \| RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		4 years
Vesting, percentage		0.25%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payroll deduction of participant's compensation		1.00%
Minimum \| Employees \| RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		3 years
Vesting, percentage		0.33%
Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued under employee stock purchase plan		151,000	175,000	129,000
Common Stock \| 2011 Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued under employee stock purchase plan				1,948,334
Common Stock \| Transaction Until September 19, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock repurchase authorization \| $						$ 50,000,000
Repurchase of common stock		793,551
Treasury Stock, Value, Acquired, Cost Method \| $		$ 10,200,000
Common Stock \| Share Repurchase Transactions
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Repurchase of common stock				2,788,152
Treasury Stock, Value, Acquired, Cost Method \| $				$ 50,000,000
Common Stock \| Transaction Until 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Repurchase of common stock				1,967,420
Treasury Stock, Value, Acquired, Cost Method \| $				$ 40,000,000
Common Stock \| Transaction Until June 15, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Treasury Stock, Value, Acquired, Cost Method \| $				$ 50,000,000

Income Taxes - Income Tax Expense/(Benefit) from Continuing Operations (Detail) - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2022
Current:
Federal	$ 6,315	$ 16,259	$ 52,843
State	2,637	1,955	7,174
Total current	8,952	18,214	60,017
Deferred:
Federal	2,558	(6,217)	(1,889)
State	(1,723)	(647)	(236)
Total deferred	835	(6,864)	(2,125)
Total income tax expense	$ 9,787	$ 11,350	$ 57,892

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Leases

12 Months Ended

Apr. 30, 2024

Leases [Abstract]

Leases

3. Leases

We lease certain of our real estate, machinery, equipment, and photocopiers under non-cancelable operating and finance lease agreements.

We recognize expenses for our operating lease assets and liabilities at the commencement date based on the present value of lease payments over the lease term. Our leases do not provide an implicit interest rate. We use our incremental borrowing rate based on the information available at the lease commencement date in determining the present value of lease payments. Our lease agreements do not require material variable lease payments or residual value guarantees, nor do they include restrictive covenants. For operating leases, we recognize expense on a straight-line basis over the lease term. Tenant improvement allowances are recorded as an offsetting adjustment included in our calculation of the respective right-of-use asset.

Many of our leases include renewal options that enable us to extend the lease term. The execution of those renewal options is at our sole discretion and renewals are reflected in the lease term when they are reasonably certain to be exercised. The depreciable life of assets and leasehold improvements are limited by the expected lease term.

The amounts of assets and liabilities related to our operating and financing leases as of April 30, 2024 were as follows (in thousands):


	Balance Sheet Caption	April 30, 2024			April 30, 2023
Operating Leases
Right-of-use assets		$	6,761		$	5,994
Accumulated amortization			(5,411	)		(4,153	)
Right-of-use assets, net	Other assets	$	1,350		$	1,841

Current liabilities	Accrued expenses and deferred revenue	$	947		$	1,274
Non-current liabilities	Other non-current liabilities		574			801
Total operating lease liabilities		$	1,521		$	2,075
Finance Leases
Right-of-use assets		$	41,631		$	41,631
Accumulated depreciation			(11,713	)		(9,448	)
Right-of-use assets, net	Property, plant, and equipment, net	$	29,918		$	32,183

Current liabilities	Accrued expenses and deferred revenue	$	1,564		$	1,434
Non-current liabilities	Finance lease payable, net of current portion		35,404			36,961
Total finance lease liabilities		$	36,968		$	38,395

During fiscal 2024, we recorded $1.5 million of operating lease costs, of which $98,000 related to short-term leases that were not recorded as right-of-use assets. We recorded $2.3 million of finance lease amortization and $1.9 million of financing lease interest expense during fiscal 2024. As of April 30, 2024, our weighted average lease term and weighted average discount rate for our operating leases was 2.2 years and 3.2%, respectively. As of April 30, 2024, our weighted average lease term and weighted average discount rate for our financing leases were 14.4 years and 5.0%, respectively, and consisted primarily of our Missouri distribution center. The building is pledged to secure the amounts outstanding. The depreciable lives of right-of-use assets are limited by the lease term and are amortized on a straight-line basis over the life of the lease.

On October 26, 2017, we entered into (a) a lease agreement with Ryan Boone County, LLC, or the Original Missouri Landlord, concerning certain real property located in Boone County, Missouri on which we have been operating our distribution center, or the Missouri Lease, and (b) a guaranty in favor of the Original Missouri Landlord, or the Guaranty. With the completion of the Separation, we entered into a sublease under which American Outdoor Brands, Inc., our former wholly owned subsidiary, or AOUT, subleases from us 59.0% of our Missouri distribution center under the same terms as the Missouri Lease, or the Sublease. On July 16, 2022, we entered into an amendment to the Sublease, increasing the leased space to 64.7% of the facility under the same terms as the Missouri Lease. As

part of the Relocation, on January 31, 2023, we entered into (i) an assignment and assumption agreement with AOUT, pursuant to which AOUT will assume all of our rights, entitlement, and obligations in, to, and under the Missouri Lease, in each case, which became effective on January 1, 2024, and (ii) an amended and restated guaranty in favor of RCS-S&W Facility, LLC, as successor in interest to the Original Missouri Landlord, pursuant to which Smith & Wesson Sales Company was added as a guarantor, or the Amended and Restated Guaranty. We terminated the Missouri Sublease as of January 1, 2024. For the fiscal year April 30, 2024, income related to the Sublease was $2.7 million, of which $1.3 million was recorded in general and administrative expense and $1.4 million was recorded in interest expense, net, in our consolidated statements of income. In addition, on January 5, 2024, we entered into an amendment to extend the lease term on our Deep River facility through January 4, 2025. We intend to occupy the facility at least through the current lease termination date. We do not believe there are any indications of impairment relating to assets being utilized at the Deep River facility.


Fiscal	Amount
2025	$	3,180
2026		3,235
2027		3,292
2028		3,350
2029		3,408
Thereafter		35,498
Total future receipts		51,963
Less amounts representing interest		(15,607	)
Present value of receipts	$	36,356

Future lease payments for all our operating and finance leases for succeeding fiscal years is as follows (in thousands):


	Operating			Financing			Total
2025	$	1,033		$	3,378		$	4,411
2026		301			3,433			3,734
2027		272			3,498			3,770
2028		125			3,416			3,541
2029		—			3,408			3,408
Thereafter		—			35,498			35,498
Total future lease payments		1,731			52,631			54,362
Less amounts representing interest		(210	)		(15,663	)		(15,873	)
Present value of lease payments		1,521			36,968			38,489
Less current maturities of lease liabilities		(947	)		(1,564	)		(2,511	)
Long-term maturities of lease liabilities	$	574		$	35,404		$	35,978

During fiscal 2024, the cash paid for amounts included in the measurement of liabilities and operating cash flows was $4.6 million.

Fair Value Measurement - Additional Information (Detail) - USD ($) $ in Thousands	Apr. 30, 2024	Apr. 30, 2023
(Level 1) \| Fair Value on Recurring Basis
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 60,800	$ 53,600
(Level 2)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Financial assets	0
Financial liabilities	0
(Level 3)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Financial assets	0
Financial liabilities	$ 0

Notes, Loans Payable, and Financing Arrangements - Additional Information (Detail) - USD ($)		12 Months Ended
	Aug. 24, 2020	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2022	Apr. 30, 2021
Debt Instrument [Line Items]
Amortization to interest expense for all debt issuance costs		$ 89,805	$ 89,560	$ 89,560
Notes Payable
Debt Instrument [Line Items]
Debt issuance cost					$ 450,000
Maximum
Debt Instrument [Line Items]
Swingline Loan	$ 5,000,000
Swingline Loan
Debt Instrument [Line Items]
Interest description of revolving line of credit		Each Swingline Loan (as defined in the Amended and Restated Credit Agreement) bears interest at the Base Rate, plus an applicable margin based on our Adjusted Consolidated Leverage Ratio (as defined in the Amended and Restated Credit Agreement)
Credit facility additional borrowing capacity option to increase maximum borrowing capacity	50,000,000
Unsecured Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit facility, borrowing capacity	$ 100,000,000
Interest description of revolving line of credit		The Revolving Line bears interest at either the Base Rate (as defined in the Amended and Restated Credit Agreement) or the SOFR rate, plus an applicable margin based on our consolidated leverage ratio.
Credit facility, maturity	Aug. 24, 2025
Credit Facilities
Debt Instrument [Line Items]
Borrowings outstanding		$ 40,000,000
Outstanding letters of credit		2,700,000
Line Of Credit Facility Interest Capitalised		759,000
Credit Facilities \| Self Insurance
Debt Instrument [Line Items]
Outstanding letters of credit		$ 1,500,000
Credit Facilities \| London Interbank Offered Rate [Member]
Debt Instrument [Line Items]
Interest rate on borrowings		7.18%

Consolidated Balance Sheets - USD ($) $ in Thousands	Apr. 30, 2024	Apr. 30, 2023
Current assets:
Cash and cash equivalents	$ 60,839	$ 53,556
Accounts receivable, net of allowances for credit losses of $0 on April 30, 2024 and $23 on April 30, 2023	59,071	55,153
Inventories	160,500	177,118
Prepaid expenses and other current assets	4,973	4,917
Income tax receivable	2,495	1,176
Total current assets	287,878	291,920
Property, plant, and equipment, net	252,633	210,330
Intangibles, net	2,598	3,588
Goodwill	19,024	19,024
Deferred income taxes	7,249	8,085
Other assets	8,614	8,347
Total assets	577,996	541,294
Current liabilities:
Accounts payable	41,831	36,795
Accrued expenses and deferred revenue	26,811	20,149
Accrued payroll and incentives	17,147	18,565
Accrued income taxes	0	1,831
Accrued profit sharing	9,098	8,203
Accrued warranty	1,813	1,670
Total current liabilities	96,700	87,213
Notes and loans payable (Note 4)	39,880	24,790
Finance lease payable, net of current portion	35,404	36,961
Other non-current liabilities	7,852	7,707
Total liabilities	179,836	156,671
Commitments and contingencies (Note 15)
Stockholders’ equity:
Preferred stock, $0.001 par value, 20,000,000 shares authorized, no shares issued or outstanding	0	0
Common stock, $0.001 par value, 100,000,000 shares authorized, 75,395,490 issued and 45,561,569 shares outstanding on April 30, 2024 and 75,029,300 shares issued and 45,988,930 shares outstanding on April 30, 2023	75	75
Additional paid-in capital	289,994	283,666
Retained earnings	540,660	523,184
Accumulated other comprehensive income	73	73
Treasury stock, at cost (29,833,921 shares on April 30, 2024 and 29,040,370 shares on April 30, 2023)	(432,642)	(422,375)
Total stockholders’ equity	398,160	384,623
Total liabilities and stockholders' equity	$ 577,996	$ 541,294

Commitments and Contingencies - Additional Information (Detail) $ in Millions		1 Months Ended	12 Months Ended
	Sep. 30, 2021 USD ($)	Jan. 31, 2018 USD ($)	Apr. 30, 2024 CAD ($) Plaintiff Claim	Apr. 30, 2024 USD ($) Plaintiff Claim	Apr. 30, 2023 USD ($)	Apr. 30, 2022 USD ($)	Feb. 02, 2023 USD ($)
Schedule Of Commitments And Contingencies [Line Items]
Compensatory damages sought		$ 18,600,000
Number of Product liability cases \| Claim			1	1
Number of Other product liability claims \| Claim			5	5
Year of other product liability claim			December 2019	December 2019
Defense and administrative costs				$ 320,000	$ 988,000	$ 729,000
Settlement fees related to product liability cases						0
Expense related to changes in product liability and municipal litigation liability				35,000	176,000	$ 1,200,000
Accrued settlement fees					1,600,000
Aggregate estimated capital expenditure				120,000,000
Environmental reserve in non-current liabilities				0	0
Construction Contract Cost							$ 114,000,000
Cost Of Machinery And Equipment Due Remainder				170,000,000
Cost Of Machinery And Equipment				160,000,000
Capital expenditures incurred				$ 157,000,000
IDB [Member]
Schedule Of Commitments And Contingencies [Line Items]
Terms of commitment			Blount County and the cities of Alcoa and Maryville, Tennessee, a public, nonprofit corporation organized and existing under the laws of the state of Tennessee, or the IDB. Pursuant to the Project Agreement, we represented to the IDB that we intend to incur, or cause to be incurred, no less than $120.0 million in aggregate capital expenditures on or before December 31, 2025, create no less than 620 new jobs, and sustain an average hourly wage of at least $25.97 at the facility. Further, pursuant to the Project Agreement, we are required to, among other things, (A) execute a facility lease and an equipment lease with the IDB; (B) cause the construction of the new facility at our sole cost and expense to commence on or before May 31, 2022; (C) incur, or cause to be incurred, aggregate capital expenditures in connection with the construction and equipping of the new facility in an aggregate amount of not less than $120.0 million on or before December 31, 2025; (D) cause the construction of the new facility to be substantially completed and for a certificate of occupancy to be issued therefore on or before December 31, 2023; (E) provide the IDB with a written report certified by one of our authorized officers, not later than January 31 of each year during the period between January 31, 2024 and January 31, 2031; and (F) make certain payments to IDB in the event that our actual capital expenditures, number of employees, or average hourly wage of such employees are less than our projections.	Blount County and the cities of Alcoa and Maryville, Tennessee, a public, nonprofit corporation organized and existing under the laws of the state of Tennessee, or the IDB. Pursuant to the Project Agreement, we represented to the IDB that we intend to incur, or cause to be incurred, no less than $120.0 million in aggregate capital expenditures on or before December 31, 2025, create no less than 620 new jobs, and sustain an average hourly wage of at least $25.97 at the facility. Further, pursuant to the Project Agreement, we are required to, among other things, (A) execute a facility lease and an equipment lease with the IDB; (B) cause the construction of the new facility at our sole cost and expense to commence on or before May 31, 2022; (C) incur, or cause to be incurred, aggregate capital expenditures in connection with the construction and equipping of the new facility in an aggregate amount of not less than $120.0 million on or before December 31, 2025; (D) cause the construction of the new facility to be substantially completed and for a certificate of occupancy to be issued therefore on or before December 31, 2023; (E) provide the IDB with a written report certified by one of our authorized officers, not later than January 31 of each year during the period between January 31, 2024 and January 31, 2031; and (F) make certain payments to IDB in the event that our actual capital expenditures, number of employees, or average hourly wage of such employees are less than our projections.
Average hourly wage	$ 25.97
Minimum
Schedule Of Commitments And Contingencies [Line Items]
Compensatory damages sought				$ 75,000
Maximum
Schedule Of Commitments And Contingencies [Line Items]
Compensatory damages sought				50,000,000
Settlement fees related to product liability cases				$ 1,600,000	$ 1,500,000
Putative Class
Schedule Of Commitments And Contingencies [Line Items]
Number of plaintiffs \| Plaintiff			2	2
Putative Class \| General Damages
Schedule Of Commitments And Contingencies [Line Items]
Aggregate damages claims			$ 50
Putative Class \| Compensatory or Punitive Damages
Schedule Of Commitments And Contingencies [Line Items]
Aggregate damages claims			$ 100
Equipment [Member]
Schedule Of Commitments And Contingencies [Line Items]
Asset impairment charges				$ 1,900,000
Remaining net book value				$ 2,900,000

Organization

12 Months Ended

Apr. 30, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Organization

1. Organization

We are one of the world’s leading manufacturers and designers of firearms. We manufacture a wide array of handguns (including revolvers and pistols), long guns (including modern sporting rifles, pistol caliber carbines, and lever action rifles), handcuffs, firearm suppressors, and other firearm-related products for sale to a wide variety of customers, including firearm enthusiasts, collectors, hunters, sportsmen, competitive shooters, individuals desiring home and personal protection, law enforcement and security agencies and officers, and military agencies in the United States and throughout the world. We sell our products under the Smith & Wesson and Gemtech brands. We manufacture our products at our facilities in Springfield, Massachusetts; Houlton, Maine; Deep River, Connecticut; and Maryville, Tennessee. We also sell our manufacturing services to other businesses to attempt to level-load our factories. We sell those services under our Smith & Wesson and Smith & Wesson Precision Components brands. During fiscal 2024, we began manufacturing and distribution activities from our new Maryville, Tennessee facility. See Note 15 — Commitments and Contingencies, and Note 16 — Restructuring for more information.

Property, Plant, and Equipment (Tables)

12 Months Ended

Apr. 30, 2024

Property, Plant and Equipment [Abstract]

Summary of Property, Plant, and Equipment

The following table summarizes property, plant, and equipment as of April 30, 2024 and 2023 (in thousands):


	April 30, 2024				April 30, 2023
Machinery and equipment	$	337,772		$		308,852
Building and improvements		154,507				40,131
Software and hardware		52,750				49,569
Land and improvements		3,109				2,945
Right of use assets		41,631				41,631
		589,769				443,128
Less: Accumulated depreciation and amortization		(352,615	)			(334,383	)
		237,154				108,745
Construction in progress		15,479				101,585
Total property, plant, and equipment, net	$	252,633		$		210,330

Summary of Depreciation and Amortization Expense


	For the Years Ended April 30,
	2024		2023		2022
Cost of sales	$	20,607	$	22,205	$	21,879
Research and development		533		529		484
Selling, marketing, and distribution		3,635		1,524		509
General and administrative		7,693		7,088		7,111
Interest expense		90		90		90
Total depreciation and amortization	$	32,558	$	31,436	$	30,073

Significant Accounting Policies - Additional Information (Detail)	12 Months Ended
	Apr. 30, 2024 USD ($) Customer shares	Apr. 30, 2023 USD ($) Customer shares	Apr. 30, 2022 USD ($) shares	Feb. 01, 2024 USD ($)	Apr. 30, 2020 USD ($)
Product Information [Line Items]
Maximum maturity period of all highly liquid investments to be considered cash equivalents	3 months
Goodwill	$ 19,024,000	$ 19,024,000		$ 19,000,000
Remaining estimated cost related to recalls, safety alerts, and consumer advisories	38,000
Warranty expense	2,600,000	1,500,000	$ 1,900,000
Promotional programs amount	600,000	10,200,000	6,600,000
Selling and marketing expenses	$ 2,600,000	$ 2,700,000	$ 4,300,000
Shares excluded from the computation of diluted earnings per share \| shares	18,009	30,307	43,530
Self Insurance
Product Information [Line Items]
Maximum amount of self-insurance per occurrence					$ 10,000,000
ASU 2014-09
Product Information [Line Items]
Description of payment terms	We generally sell our products free on board, or FOB, shipping point and provide payment terms to most commercial customers ranging from 20 to 60 days of product shipment with a discount available to some customers for early payment. Generally, framework contracts define the general terms of sales, including payment terms, freight terms, insurance requirements, and cancelation provisions. Purchase orders define the terms for specific sales, including description, quantity, and price of each product purchased. We estimate variable consideration relative to the amount of cash discounts to which customers are likely to be entitled. As a result of utilizing practical expedients upon the adoption of ASC 606, we do not consider these extended terms to be a significant financing component of the contract because the payment terms are less than one year.
Other Capitalized Property Plant and Equipment \| Maximum
Product Information [Line Items]
Estimated useful life	10 years
Sales, net \| Customer Concentration Risk
Product Information [Line Items]
Number of Customers Accounted for Net Sales. \| Customer	3	2
Sales, net \| Customer Concentration Risk \| Customer Two
Product Information [Line Items]
Concentration of risk, percentage		22.80%
Sales, net \| Customer Concentration Risk \| Customer Two \| Minimum
Product Information [Line Items]
Concentration of risk, percentage		10.00%
Sales, net \| Customer Concentration Risk \| Customer Three
Product Information [Line Items]
Concentration of risk, percentage	34.80%
Sales, net \| Customer Concentration Risk \| Customer Three \| Minimum
Product Information [Line Items]
Concentration of risk, percentage	10.00%
Accounts Receivable \| Customer Concentration Risk
Product Information [Line Items]
Number of Customers Accounted for Accounts Receivable \| Customer	2	3
Accounts Receivable \| Customer Concentration Risk \| Customer Two
Product Information [Line Items]
Concentration of risk, percentage	47.90%
Accounts Receivable \| Customer Concentration Risk \| Customer Two \| Minimum
Product Information [Line Items]
Concentration of risk, percentage	10.00%
Accounts Receivable \| Customer Concentration Risk \| Customer Three
Product Information [Line Items]
Concentration of risk, percentage		39.40%
Accounts Receivable \| Customer Concentration Risk \| Customer Three \| Minimum
Product Information [Line Items]
Concentration of risk, percentage		10.00%
Level 2
Product Information [Line Items]
Fair value of financial instrument	$ 0	$ 0

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ 39,609	$ 36,876	$ 194,494

- Definition

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

+ References

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

Significant Accounting Policies (Policies)

12 Months Ended

Apr. 30, 2024

Accounting Policies [Abstract]

Use of Estimates

Use of Estimates — The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the financial statement dates and the reported amounts of revenue and expenses during the reporting periods. Our significant estimates include the accrual for warranty, reserves for excess and obsolete inventory, rebates and other promotions, valuation of intangible assets, and costs associated with the Relocation. Actual results could differ from those estimates.

Principles of Consolidation

Principles of Consolidation — The accompanying consolidated financial statements include the accounts of Smith & Wesson Brands, Inc. and its wholly owned subsidiaries, including Smith & Wesson Inc., Smith & Wesson Sales Company, and SWPC Plastics, LLC. In our opinion, all adjustments, which include only normal recurring adjustments necessary to fairly present the financial position, results of operations, changes in stockholders’ equity, and cash flows at April 30, 2024 and 2023 and for the periods presented, have been included. All intercompany accounts and transactions have been eliminated in consolidation.

Fair Value of Financial Instruments

Fair Value of Financial Instruments — Unless otherwise indicated, the fair values of all reported assets and liabilities, which represent financial instruments not held for trading purposes, approximate the carrying values of such amounts because of their short-term nature or market rates of interest.

Cash and Cash Equivalents

Cash and Cash Equivalents — We consider all highly liquid investments purchased with original maturities of three months or less at the date of acquisition to be cash equivalents. We maintain our cash in bank deposit accounts that, at times, may exceed federally insured limits. We have not experienced any losses in such accounts. As of April 30, 2024, all of our accounts exceeded federally insured limits.

Financial Instruments

Financial Instruments — We account for derivative instruments under Accounting Standards Codification (“ASC”) 815-10, Fair Value Measurements and Disclosure Topic, which establishes accounting and reporting standards for derivative instruments and hedging activities and requires us to recognize these instruments as either assets or liabilities on the balance sheet and measure them at fair value. As of April 30, 2024 and 2023, we did not have any derivative instruments or any Level 2 or Level 3 financial instruments within the hierarchy. See Note 4 – Notes, Loans Payable, and Financing Arrangements for more information regarding our financial instruments.

Trade Receivables

Trade Receivables — We extend credit to our domestic customers and some foreign distributors based on their financial condition. We sometimes offer discounts for early payment on invoices. When we believe the extension of credit is not advisable, we rely on either a prepayment or a letter of credit. We write off balances deemed uncollectible by us against our allowance for doubtful accounts. We estimate our allowance for doubtful accounts through current past due balances, knowledge of our customers’ financial situations, and past payment history.

Concentrations of Credit Risk

Concentrations of Credit Risk — Financial instruments that potentially subject us to concentration of credit risk consist principally of cash, cash equivalents, and trade receivables. We place our cash and cash equivalents in overnight U.S. government securities. Concentrations of credit risk with respect to trade receivables are limited by the large number of customers comprising our customer base and their geographic and business dispersion. We perform ongoing credit evaluations of our customers’ financial condition and generally do not require collateral.

For fiscal 2024, sales to three of our customers exceeded 10.0% of our net sales, totaling 34.8%. As of April 30, 2024, two of our customers each accounted for more than 10% of our accounts receivable, for a total of 47.9%. For fiscal 2023, sales to two of our customers exceeded 10.0% of our net sales, totaling 22.8%. As of April 30, 2023, three of our customers each accounted for more than 10% of our accounts receivable, for a total of 39.4%.

Inventories

Inventories — We value inventories at the lower of cost, using the first-in, first-out, or FIFO, method or net realizable value. An allowance for potential non-saleable inventory due to excess stock or obsolescence is based upon a detailed review of inventory, past history, and expected future usage.

Property, Plant, and Equipment

Property, Plant, and Equipment — We record property, plant, and equipment, consisting of land, building, improvements, machinery, equipment, software, hardware, furniture, and fixtures, at cost and depreciate them using the straight-line method over their estimated useful lives. We charge expenditures for maintenance and repairs to earnings as incurred, and we capitalize additions, renewals, and betterments. Upon the retirement or other disposition of property and equipment, we remove the related cost and accumulated depreciation from the respective accounts and include any gain or loss in operations. We lease certain of our real estate, machinery, and photocopiers under non-cancelable operating and finance lease agreements, and we recognize expenses under our operating lease assets and liabilities at the commencement date based on the present value of lease payments over the lease term. The depreciable life of assets and leasehold improvements are based on the expected life of the lease. A summary of the estimated useful lives is as follows:


Description	Useful Life
Building and improvements		10 to 40 years
Software and hardware		2 to 7 years
Machinery and equipment		2 to 10 years

We include tooling, dies, and fixtures as part of machinery and equipment and depreciate them over a period generally not exceeding ten years.

Intangible Assets

Intangible Assets — We record intangible assets at cost or based on the fair value of the assets acquired. Intangible assets consist of developed technology, customer relationships, trademarks, trade names, and patents. We amortize intangible assets over their estimated useful lives or in proportion to expected yearly revenue generated from the intangibles that were acquired.

Revenue Recognition

Revenue Recognition — We recognize revenue in accordance with the provisions of Accounting Standards Update, or ASU, Revenue from Contracts with Customers (Topic 606), which became effective for us on May 1, 2018. Generally, all performance obligations are satisfied and revenue is recognized when the risks and rewards of ownership have transferred to the customer, which is generally upon shipment but could be delayed until the receipt of customer acceptance.

In some instances, sales include multiple performance obligations. The most common of these instances relates to sales promotion programs under which customers are entitled to receive free goods based upon their purchase of our products, which we have identified as a material right. The fulfillment of these free goods is our responsibility. In such instances, we allocate the revenue of the promotional sales based on the estimated level of participation in the sales promotional program and the timing of the shipment of all of the products included in the promotional program, including the free goods. We recognize revenue related to the material right proportionally as each performance obligation is satisfied. The net change in contract liabilities for a given period is reported as an increase or decrease to sales.

We generally sell our products free on board, or FOB, shipping point and provide payment terms to most commercial customers ranging from 20 to 60 days of product shipment with a discount available to some customers for early payment. Generally, framework contracts define the general terms of sales, including payment terms, freight terms, insurance requirements, and cancelation provisions. Purchase orders define the terms for specific sales, including description, quantity, and price of each product purchased. We estimate variable consideration relative to the amount of cash discounts to which customers are likely to be entitled. As a result of utilizing practical expedients upon the adoption of ASC 606, we do not consider these extended terms to be a significant financing component of the contract because the payment terms are less than one year. In all cases, we consider our costs related to shipping and handling to be a cost of fulfilling the contract with the customer.

Research and Development

Research and Development — We engage in both internal and external research and development, or R&D, in order to remain competitive and to exploit possible untapped market opportunities. We approve prospective R&D projects after analysis of the cost and benefits associated with the potential product. Costs in R&D expense include, among other items, salaries, materials, utilities, and administrative costs.

Earnings/(Loss) per Share

Earnings per Share — We calculate basic and diluted earnings per common share in accordance with the provisions of ASC 260-10, Earnings Per Share. Basic earnings per common share equals net income divided by the weighted average number of common shares outstanding during the period. Diluted earnings per common share equals net income divided by the weighted average number of common shares outstanding during the period, including the effect of outstanding stock options and other stock-based instruments if their effect is dilutive.


	For the Year Ended April 30,
	2024		2023		2022
Net income	$	39,609	$	36,876	$	194,494
Weighted average shares outstanding — Basic		45,813		45,844		47,227
Effect of dilutive stock awards		436		326		501
Weighted average shares outstanding — Diluted		46,248		46,170		47,728
Earnings per share — Basic	$	0.86	$	0.80	$	4.12
Earnings per share — Diluted	$	0.86	$	0.80	$	4.08

For fiscal 2024, 2023, and 2022, the number of shares excluded from the computation of diluted earnings per share was 18,009, 30,307, and 43,530, respectively, because the effect would be antidilutive.

Valuation of Long Lived Tangible and Intangible Assets

Valuation of Long-lived Tangible and Intangible Assets — We evaluate the recoverability of long-lived assets, or asset groups, whenever events or changes in circumstances indicate that carrying amounts may not be recoverable. When such evaluations indicate that the related future undiscounted cash flows are not sufficient to recover the carrying values of the assets, such carrying values are reduced to fair value and this adjusted carrying value becomes the asset’s new cost basis. We determine fair value primarily using future anticipated cash flows that are directly associated with and are expected to arise as a direct result of the use and eventual disposition of the asset, or asset group, discounted using an interest rate commensurate with the risk involved.

We have significant long-lived tangible and intangible assets, which are susceptible to valuation adjustments as a result of changes in various factors or conditions. The most significant long-lived tangible and intangible assets, other than goodwill, are property, plant, and equipment, right of use assets, developed technology, customer relationships, patents, trademarks, and trade names. We amortize all finite-lived intangible assets either on a straight-line basis or based upon patterns in which we expect to utilize the economic benefits of such assets. We initially determine the values of intangible assets by a risk-adjusted, discounted cash flow approach. We assess the potential impairment of identifiable intangible assets and fixed assets whenever events or changes in circumstances indicate

that the carrying values may not be recoverable and at least annually. Factors we consider important, which could trigger an impairment of such assets, include the following:

•

significant underperformance relative to historical or projected future operating results;

•

significant changes in the manner or use of the assets or the strategy for our overall business;

•

significant negative industry or economic trends;

•

a significant decline in our stock price for a sustained period; and

•

a decline in our market capitalization below net book value.

Future adverse changes in these or other unforeseeable factors could result in an impairment charge that could materially impact future results of operations and financial position in the reporting period identified.

In accordance with ASC 350, Intangibles-Goodwill and Other, we test goodwill for impairment on an annual basis on February 1 and between annual tests if indicators of potential impairment exist. The impairment test compares the fair value of the operating units to their carrying amounts to assess whether impairment is present. We have reviewed the provisions of ASC 350-20, with respect to the criteria necessary to evaluate the number of reporting units that exist. Based on this review, we concluded that we have one operating unit when reviewing ASC 350-20.

We review the fair value of our goodwill based on financial performance annually. As of our last valuation date, February 1, 2024, we had $19.0 million of goodwill and its fair value significantly exceeded its carrying value, based on EBITDAS, cashflow, and market capitalization. Our assumptions related to the development of fair value could deviate materially from actual results and forecasts used to support asset carrying values may change in the future, which could result in non-cash charges that would adversely affect our financial results of operations.

The re-measurement of goodwill is classified as a Level 3 fair value assessment as described in Note 10 - Fair Value Measurement, due to the significance of unobservable inputs developed using company-specific information.

Income Taxes

Income Taxes – We use the asset and liability approach for financial accounting and reporting income taxes. The provision for income taxes is based upon income reported in the accompanying consolidated financial statements as required by ASC 740, Income Taxes. We determine our deferred tax assets and liabilities based on temporary differences between financial reporting and tax bases in assets and liabilities, which are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. We recognize the effect on deferred taxes of a change in tax rates in the period that includes the enactment date. In assessing the realization of our deferred tax assets, we consider whether it is more likely than not that the deferred tax assets will be realized. The ultimate realization of our deferred tax assets depends upon generating future taxable income during the periods in which our temporary differences become deductible and before our net operating loss carryforwards expire. We evaluate the recoverability of our deferred tax assets by assessing the need for a valuation allowance on a quarterly basis. If we determine that it is more likely than not that our deferred tax assets will not be recovered, we establish a valuation allowance against some or all of our deferred tax assets. Recording or reversing a valuation allowance could have a significant effect on our future results of operations and financial position.

Warranty

Warranty — We generally provide a limited one-year warranty and a lifetime service policy to the original purchaser of our new firearm products. We will also repair or replace certain products or parts found to be defective under normal use and service with an item of equivalent value, at our option, without charge during the warranty period. We quantify and record an estimate for warranty-related costs based on our actual historical claims experience and current repair costs. We adjust accruals as warranty claims data and historical experience warrant. Should we experience actual claims and repair costs that are higher than the estimated claims and repair costs used to calculate the provision, our operating results for the period or periods in which such returns or additional costs materialize would be adversely impacted.

From time to time, we have experienced certain manufacturing and design issues with respect to some of our firearms and have initiated some product recalls and safety alerts. In February 2024, we initiated a safety recall for Response rifles manufactured prior to February 12, 2024 as a result of field reports related to the potential for an out of battery discharge. This safety recall was limited to Response rifles manufactured prior to February 12, 2024 and was conducted to ensure there were no anomalies or conditions that might adversely affect the safety, function, or

performance of these rifles. The remaining estimated cost of all recalls, safety alerts, and consumer advisories is $38,000, which is recorded in accrued warranty on our consolidated balance sheet as of April 30, 2024. The remaining balance relates to a general accrual related to standard warranty costs for products shipped in the ordinary course of business.

Warranty expense for the fiscal years ended April 30, 2024, 2023, and 2022 amounted to $2.6 million, $1.5 million, and $1.9 million, respectively.

The following table sets forth the change in accrued warranties, a portion of which is recorded as a non-current liability, in the fiscal years ended April 30, 2024, 2023, and 2022 (in thousands):



Balance as of April 30, 2022	$	4,873
Warranties issued and adjustments to provisions		1,496
Warranty claims		(2,364	)
Balance as of April 30, 2023		4,005
Warranties issued and adjustments to provisions		2,560
Warranty claims		(2,681	)
Balance as of April 30, 2024	$	3,884

Sales and Promotional Related Expenses

Sales and Promotional Related Expenses — We present product sales in our consolidated financial statements, net of customer promotional program costs that depend upon the volume of sales. For promotional program costs that do not depend on the volume of sales, we record promotional costs in cost of goods sold. The total of all our promotional programs amounted to $6.6 million, $10.2 million, and $6.6 million for the fiscal years ended April 30, 2024, 2023, and 2022, respectively. We have a co-op advertising program at the retail level. We expensed sales and promotional related costs amounting to $2.6 million, $2.7 million, and $4.3 million for fiscal 2024, 2023, and 2022, respectively, as selling and marketing expenses.

Shipping and Handling

Shipping and Handling — In the accompanying consolidated financial statements, we included amounts billed to customers for shipping and handling in net sales. Inbound freight charges and internal transfer costs are included in cost of goods sold; however, costs incurred to distribute products to customers is included in selling, marketing, and distribution expenses.

Insurance Reserves

Insurance Reserves — In January 2020, we formed a wholly owned captive insurance company, which provides product liability insurance to us and our subsidiaries. We are self-insured through retentions or deductibles for the majority of our workers’ compensation, automobile, general liability, product liability, and group health insurance programs. Self-insurance amounts vary up to $10.0 million per occurrence; however, we believe the likelihood of reaching the maximum per occurrence limit is remote. We record our liability for estimated premiums and incurred losses in the accompanying consolidated financial statements on an undiscounted basis.

Recently Issued Accounting Standards

Recently Issued Accounting Standards — There are no new accounting pronouncements that are expected to have a significant impact on our consolidated financial statements.

Advertising Costs

12 Months Ended

Apr. 30, 2024

Marketing and Advertising Expense [Abstract]

Advertising Costs

6. Advertising Costs

We expense advertising costs, primarily consisting of magazine advertisements, printed materials, television advertisements, digital advertisements, radio advertisements, and billboards, either as incurred or upon the first occurrence of the advertising. Advertising expense, included in selling, marketing, and distribution expenses, for the fiscal years ended April 30, 2024, 2023, and 2022, amounted to $14.7 million, $14.7 million, and $17.5 million, respectively.

Restructuring - Summary of activity in the Severance and employee-related benefits and Relocation accruals (Details)
$ in Thousands

12 Months Ended

Apr. 30, 2024

USD ($)

Restructuring Cost and Reserve [Line Items]

Restructuring Reserve, Beginning Balance

$ 11,800

Charges

649

Cash payments and settlements

(6,094)

Restructuring Reserve, Ending Balance

6,355

^[1]

Severance and employee relateds benefits

Restructuring Cost and Reserve [Line Items]

Restructuring Reserve, Beginning Balance

10,054

Charges

(238)

Cash payments and settlements

(4,289)

Restructuring Reserve, Ending Balance

5,527

^[1]

Relocation

Restructuring Cost and Reserve [Line Items]

Restructuring Reserve, Beginning Balance

1,746

Charges

887

Cash payments and settlements

(1,805)

Restructuring Reserve, Ending Balance

$ 828

^[1]

[1]	Recorded in accrued payroll and incentives

- 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

Restructuring - Components of Restructuring Charges (Detail) - USD ($)
$ in Thousands

12 Months Ended

Apr. 30, 2024

Apr. 30, 2023

Restructuring Cost and Reserve [Line Items]

Restructuring charges

$ 7,053

$ 8,261

Cost of sales

Restructuring Cost and Reserve [Line Items]

Restructuring charges

2,116

3,923

Research and development

Restructuring Cost and Reserve [Line Items]

Restructuring charges

Selling, marketing, and distribution

Restructuring Cost and Reserve [Line Items]

Restructuring charges

2,974

1,055

General and administrative

Restructuring Cost and Reserve [Line Items]

Restructuring charges

1,963

3,280

Office Rent and Equipment

Restructuring Cost and Reserve [Line Items]

Restructuring charges

2,298

229

Employee Relations

Restructuring Cost and Reserve [Line Items]

Restructuring charges

2,011

349

Consulting Services

Restructuring Cost and Reserve [Line Items]

Restructuring charges

992

473

Public relations

Restructuring Cost and Reserve [Line Items]

Restructuring charges

904

Relocation

Restructuring Cost and Reserve [Line Items]

Restructuring charges

^[1]

887

2,856

Freight [Member]

Restructuring Cost and Reserve [Line Items]

Restructuring charges

199

Severance and Employee-Related Benefits

Restructuring Cost and Reserve [Line Items]

Restructuring charges

^[1]

$ (238)

$ 4,354

[1]	Recorded in accrued payroll and incentives

Net Sales

12 Months Ended

Apr. 30, 2024

Disclosure Net Sales [Abstract]

Net Sales

5. Net Sales

The following table sets forth the breakdown of net sales for the fiscal years ended April 30, 2024, 2023, and 2022 (in thousands):


	For the Years Ended April 30,
	2024		2023		2022
Handguns	$	381,898	$	360,668	$	624,219
Long Guns		116,491		74,230		189,467
Other Products & Services		37,444		44,344		50,440
Total Net Sales	$	535,833	$	479,242	$	864,126

We sell our products and services under our Smith & Wesson and Gemtech brands. Depending upon the product or service, our customers primarily include distributors; federal, state, and municipal law enforcement agencies and officers; government and military agencies; businesses; and retailers.

We sell our products worldwide. The following table sets forth the breakdown of export net sales included in the above table. Our export net sales shown below accounted for approximately 5%, 4%, and 3% of total net sales for the fiscal years ended April 30, 2024, 2023, and 2022, respectively (in thousands):


	For the Years Ended April 30,
Region	2024		2023		2022

Asia	$	9,346	$	5,411	$	3,899
Latin America		5,314		4,052		5,272
Europe		4,786		6,569		8,342
All others international		5,143		3,736		8,014

Total international net sales	$	24,589	$	19,768	$	25,527

Self-Insurance Reserves - Additional Information (Detail) - USD ($)	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Reserves for workers' compensation, product liability, municipal liability, and medical/dental costs	$ 8,699,000	$ 9,239,000	$ 8,676,000
Reserves for workers' compensation, product liability, municipal liability, and medical/dental costs, Non-current portion	3,300,000	2,600,000
Reserves for workers' compensation, product liability, municipal liability, and medical/dental costs, included in accrued expenses	5,400,000	6,600,000
Workers' compensation receivable classified as an other assets	984,000	663,000
Accrued reserves for product and municipal litigation liabilities	3,100,000	4,300,000
Accrued reserves for product and municipal litigation liabilities, Non-current portion	497,000	$ 568,000
Receivables from insurance carriers, included in other assets	$ 1,900,000

Stockholders' Equity - Share Based Payment Award Performance Shares Valuation Assumptions (Detail) - PSUs

12 Months Ended

Apr. 30, 2024

CorrelationCoefficient

$ / shares

Apr. 30, 2023

CorrelationCoefficient

$ / shares

Apr. 30, 2022

CorrelationCoefficient

$ / shares

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Correlation coefficient | CorrelationCoefficient

^[1]

0.3528

0.2094

0.154

Risk-free interest rate

^[2]

3.81%

2.91%

0.33%

Dividend yield

3.31%

2.26%

1.07%

Smith & Wesson Brands, Inc.

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Grant date fair market value

$ 12.08

$ 14.19

$ 18.67

Volatility

^[3]

58.46%

64.77%

62.33%

Russell 2000 Index

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Grant date fair market value

$ 1,769.21

$ 2,015.04

$ 2,277.45

Volatility

^[3]

27.08%

31.75%

30.69%

[1]	The correlation coefficient utilizes the same historical price data used to develop the volatility assumptions.
[2]	The risk-free interest rate is based on the yield of a zero-coupon U.S. Treasury bill, commensurate with the three-year performance period.
[3]	Expected volatility is calculated over the most recent period that represents the remaining term of the performance period as of the valuation date, or three years.

- 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

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2022
Cash flows from operating activities:
Net Income	$ 39,609	$ 36,876	$ 194,494
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	32,558	31,436	30,073
(Gain)/Loss on sale/disposition of assets	(5,595)	(55)	625
Provision for (recoveries)/losses on notes and accounts receivable	(23)	(27)	689
Impairment of long-lived tangible assets	0	0	86
Deferred income taxes	835	(6,864)	(2,125)
Stock-based compensation expense	5,683	5,102	4,536
Changes in operating assets and liabilities:
Accounts receivable	(3,896)	7,569	4,058
Inventories	16,618	(40,458)	(58,183)
Prepaid expenses and other current assets	(57)	653	2,839
Income taxes	(3,149)	(74)	480
Accounts payable	18,341	(8,606)	(26,957)
Accrued payroll and incentives	(1,418)	1,194	(10)
Accrued profit sharing	895	(5,340)	(902)
Accrued expenses and deferred revenue	6,318	(3,618)	(9,725)
Accrued warranty	142	(168)	(361)
Other assets	(267)	1,789	2,561
Other non-current liabilities	145	(2,677)	(4,364)
Net cash provided by operating activities	106,739	16,732	137,814
Cash flows from investing activities:
Payments to acquire patents and software	(186)	(334)	(283)
Proceeds from sale of property and equipment	2,955	118	139
Proceeds from sale of intangible assets	6,500	0	0
Payments to acquire property and equipment	(90,759)	(89,565)	(23,972)
Net cash used in investing activities	(81,490)	(89,781)	(24,116)
Cash flows from financing activities:
Proceeds from loans and notes payable	50,000	25,000	0
Payments on finance lease obligation	(1,378)	(1,253)	(1,087)
Payments on notes and loans payable	(35,000)	0	0
Payments to acquire treasury stock	(10,213)	0	(90,000)
Dividend distribution	(22,020)	(18,333)	(15,035)
Proceeds to acquire common stock from employee stock purchase plan	1,484	1,528	1,719
Payment of employee withholding tax related to restricted stock units	(839)	(1,065)	(1,584)
Net cash (used in)/ provided by financing activities	(17,966)	5,877	(105,987)
Net (decrease)/increase in cash and cash equivalents	7,283	(67,172)	7,711
Cash and cash equivalents, beginning of period	53,556	120,728	113,017
Cash and cash equivalents, end of period	60,839	53,556	120,728
Supplemental disclosure of cash flow information Cash paid for:
Interest	4,745	2,148	2,219
Income taxes	12,662	18,208	59,183
Supplemental Disclosure of Non-cash Investing and Financing Activities:
Purchases of property and equipment included in accounts payable	2,462	15,767	408
Capital lease included in accrued expenses and finance lease payable	$ 612	$ 767	$ 0

Insider Trading Arrangements

3 Months Ended

Apr. 30, 2024

Trading Arrangements, by Individual

Material Terms of Trading Arrangement

The adoption or termination of contracts, instructions, or written plans for the purchase and sale of our securities by our Section 16 officers and directors for the three months ended April 30, 2024, each of which is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Exchange Act, or a Rule 10b5-1 Plan, were as follows:

      Name

      Title

      Action

      Date Adopted

      Expiration Date

      Aggregate # of Securities to be Purchased/Sold

Robert L. Scott

 Director

 Adoption of Rule 10b5-1 Plan

March 29, 2024

October 28, 2024

8,071

Robert L. Scott, the Chairman of our Board of Directors, entered into a Rule 10b5-1 Plan on March 29, 2024. Mr. Scott's Rule 10b5-1 Plan provides for the potential sale of up to 8,071 shares of our common stock and expires on October 28, 2024, or upon the earlier completion of all the transactions authorized thereunder.

During the three months ended April 30, 2024, none of our directors or officers adopted or terminated a "non-Rule 10b5-1 trading arrangement" (as defined in Item 408 of Regulation S-K)

Rule 10b5-1 Arrangement Adopted

false

Non-Rule 10b5-1 Arrangement Adopted

false

Rule 10b5-1 Arrangement Terminated

false

Non-Rule 10b5-1 Arrangement Terminated

false

Robert L. Scott [Member]

Trading Arrangements, by Individual

Name

Robert L. Scott

Title

Director

Rule 10b5-1 Arrangement Adopted

true

March 29, 2024

214 days

8,071

October 28, 2024

Accrued Expenses and Deferred Revenue (Tables)

12 Months Ended

Apr. 30, 2024

Payables and Accruals [Abstract]

Summary of Accrued Expenses

The following table sets forth other accrued expenses as of April 30, 2024 and 2023 (in thousands):


	April 30, 2024		April 30, 2023
Accrued taxes other than income	$	5,838	$	3,703
Accrued professional fees		4,925		2,596
Accrued other		4,423		4,597
Accrued settlement		3,200		—
Accrued employee benefits		2,742		3,256
Accrued distributor incentives		1,687		1,640
Current portion of finance lease obligation		1,564		1,434
Accrued rebates and promotions		1,485		1,649
Current portion of operating lease obligation		947		1,274
Total accrued expenses and deferred revenue	$	26,811	$	20,149

Net Sales - Additional Information (Detail)	12 Months Ended
Net Sales - Additional Information (Detail)	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2022
Disclosure Net Sales [Abstract]
Export sales as percentage of revenue	5.00%	4.00%	3.00%

Property, Plant, and Equipment - Summary of Depreciation and Amortization Expense (Detail) - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2022
Depreciation and Other Amortization Expenses [Line Items]
Depreciation and amortization	$ 32,558	$ 31,436	$ 30,073
Cost of sales
Depreciation and Other Amortization Expenses [Line Items]
Depreciation and amortization	20,607	22,205	21,879
Research and development
Depreciation and Other Amortization Expenses [Line Items]
Depreciation and amortization	533	529	484
Selling, marketing, and distribution
Depreciation and Other Amortization Expenses [Line Items]
Depreciation and amortization	3,635	1,524	509
General and administrative
Depreciation and Other Amortization Expenses [Line Items]
Depreciation and amortization	7,693	7,088	7,111
Interest expense
Depreciation and Other Amortization Expenses [Line Items]
Depreciation and amortization	$ 90	$ 90	$ 90

Net Sales - Breakdown of Export Net Sales (Detail) - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2022
Concentration Risk [Line Items]
Net sales	$ 535,833	$ 479,242	$ 864,126
Europe
Concentration Risk [Line Items]
Net sales	4,786	6,569	8,342
Asia
Concentration Risk [Line Items]
Net sales	9,346	5,411	3,899
Latin America
Concentration Risk [Line Items]
Net sales	5,314	4,052	5,272
All others international
Concentration Risk [Line Items]
Net sales	5,143	3,736	8,014
Total International
Concentration Risk [Line Items]
Net sales	$ 24,589	$ 19,768	$ 25,527

- Definition

+ References

+ Details

Significant Accounting Policies - Reconciliation of Net Income/(Loss) Amounts and Weighted Average Number of Common and Common Equivalent Shares Used to Determine Basic and Diluted (Loss)/Earnings per Common Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2022
Net income/(loss)
Net income	$ 39,609	$ 36,876	$ 194,494
Weighted average shares outstanding — Basic	45,813	45,844	47,227
Effect of dilutive stock awards	436	326	501
Weighted average shares outstanding — Diluted	46,248	46,170	47,728
Earnings per share - Basic	$ 0.86	$ 0.8	$ 4.12
Earnings per share - Diluted	$ 0.86	$ 0.8	$ 4.08

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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+ Details

- Definition

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

+ References

+ Details

Commitments and Contingencies

12 Months Ended

Apr. 30, 2024

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

15. Commitments and Contingencies

Litigation

In January 2018, Gemini Technologies, Incorporated, or Gemini, commenced an action against us in the U.S. District Court for the District of Idaho, or the District Court. The complaint alleges, among other things, that we breached the earn-out and other provisions of the asset purchase agreement and ancillary agreements between the parties in connection with our acquisition of the Gemtech business from Gemini. The complaint seeks a declaratory judgment interpreting various terms of the asset purchase agreement and damages in the sum of $18.6 million. In November 2019, we filed an answer to Gemini’s complaint and a counterclaim against Gemini and its stockholders at the time of the signing of the asset purchase agreement. Plaintiffs amended their complaint to add a claim of fraud in the inducement. In September 2021, Gemini filed a motion for summary judgment seeking to dismiss our counterclaim. In June 2022, the District Court denied Gemini's motion for summary judgment. Gemini filed a second motion for summary judgment, and on August 14, 2023, the District Court again denied Gemini’s motion. On November 22, 2023, we entered into a settlement agreement with plaintiffs on the indemnity and counterclaims. On the same day, plaintiffs filed a motion for leave, seeking to file a second amended complaint. On January 31, 2024, the District Court allowed plaintiffs’ amended allegations of fraud, and denied without prejudice their motion to add punitive damages. We believe the claims asserted in the complaint have no merit, and we intend to aggressively defend this action.

We are a defendant in one product liability case and are aware of five other product liability claims, primarily alleging defective product design, defective manufacturing, or failure to provide adequate warnings. In addition, we are a co-defendant in a case filed in August 1999 by the city of Gary, Indiana, or the City, against numerous firearm manufacturers, distributors, and dealers seeking to recover monetary damages, as well as injunctive relief, allegedly arising out of the misuse of firearms by third parties. In January 2018, the Lake Superior Court, County of Lake, Indiana granted defendants’ Motion for Judgment on the Pleadings, dismissing the case in its entirety. In February 2018, plaintiffs appealed the dismissal to the Indiana Court of Appeals. In May 2019, the Indiana Court of Appeals issued a decision, which affirmed in part and reversed in part, and remanded for further proceedings, the trial court’s dismissal of the City’s complaint. In July 2019, defendants filed a Petition to Transfer jurisdiction to the Indiana Supreme Court. In November 2019, the Indiana Supreme Court denied defendants' petition to transfer, and the case was returned to the trial court. Discovery remains ongoing. On March 15, 2024, Governor Holcomb signed House Enrolled Act No. 1235 into law. On March 18, 2024, defendants filed a joint motion for judgment on the pleadings based on the new legislation. On May 17, 2024, plaintiffs filed an opposition to defendants’ motion for judgment on the pleadings. A hearing on defendants’ motion is scheduled for July 25, 2024.

We are a defendant in a putative class proceeding before the Ontario Superior Court of Justice in Toronto, Canada that was filed in December 2019. The action claims CAD$50 million in aggregate general damages, CAD$100 million in aggregate punitive damages, special damages in an unspecified amount, together with interest and legal costs. The named plaintiffs are two victims of a shooting that took place in Toronto in July 2018 and their family members. One victim was shot and injured during the shooting. The other victim suffered unspecified injuries while fleeing the shooting. The plaintiffs are seeking to certify a claim on behalf of classes that include all persons who were killed or injured in the shooting and their immediate family members. The plaintiffs allege negligent design and public nuisance. The case has not been certified as a class action. In July 2020, we filed a Notice of Motion for an order striking the claim and dismissing the action in its entirety. In February 2021, the court granted our motion in part, and dismissed the plaintiffs’ claims in public nuisance and strict liability. The court declined to strike the negligent design claim and ordered that the claim proceed to a certification motion. In March 2021, we filed a motion for leave to appeal the court’s refusal to strike the negligent design claim with the Divisional Court, Ontario Superior Court of Justice. In July 2021, plaintiffs filed a motion to stay our motion for leave to appeal with the Divisional Court, on grounds that appeal is premature. In November 2021, the Divisional Court granted plaintiffs' motion, staying our motion for leave to appeal until 30 days after the decision on the balance of plaintiffs' certification motion. A hearing on plaintiffs’ certification motion was held in January 2024. On March 5, 2024, the court denied the plaintiffs' motion for class certification. Three appeals have now been filed, appealing from the decisions issued to date in the case. All three appeals will be heard together in the Court of Appeal for Ontario. Those three appeals are: (1) our appeal from the dismissal of our motion to strike the negligent design claim; (2) the plaintiffs’ appeal from the order striking out their public nuisance and strict liability claims; and, (3) the plaintiffs’ appeal from the order dismissing their certification motion.

In May 2020, we were named in an action related to the Chabad of Poway synagogue shooting that took place in April 2019. The complaint was filed in the Superior Court of the State of California, for the County of San Diego – Central, and asserts claims against us for product liability, unfair competition, negligence, and public nuisance. The plaintiffs allege they were present at the synagogue on the day of the incident and suffered physical and/or emotional injury. The plaintiffs seek compensatory and punitive damages, attorneys’ fees, and injunctive relief. In September 2020, we filed a demurrer and motion to strike, seeking to dismiss plaintiffs’ complaint. In July 2021, the court granted our motion in part, and reversed it in part, ruling that (1) the PLCAA barred plaintiffs’ product liability action; (2) plaintiffs did not have standing to maintain an action under the Unfair Competition Law for personal injury related damages, but gave plaintiffs leave to amend to plead an economic injury; and (3) the PLCAA did not bar plaintiffs’ ordinary negligence and public nuisance actions because plaintiffs had alleged that we violated 18 U.S.C. Section 922(b)(4), which generally prohibits the sale of fully automatic “machineguns.” In August 2021, we filed a Petition for Writ of Mandate in the Court of Appeal of the State of California, Fourth Appellate District, Division One. In September 2021, the Court of Appeal denied our appeal. In February 2022, the court consolidated the case with three related cases, in which we are not a party. In March 2022, the court granted our motion, dismissing plaintiffs’ Unfair Competition Law claim, without further leave to amend. Discovery is ongoing. On February 28, 2023, we filed a motion for summary judgment. On May 19, 2023, the court denied our motion for summary judgment without prejudice and allowed plaintiffs time for additional, limited discovery. A hearing on our renewed motion for summary judgment was held on June 17, 2024, and trial has been rescheduled to January 24, 2025.

We are a defendant in an action filed in the U.S. District Court for the District of Massachusetts. In August 2021, the Mexican Government filed an action against several U.S.-based firearms manufacturers and a firearms distributor, claiming defendants design, market, distribute, and sell firearms in ways they know routinely arm the drug cartels in Mexico. Plaintiff alleges, among other claims, negligence, public nuisance, design defect, unjust enrichment and restitution against all defendants and violation of the Massachusetts Consumer Protection Act against us alone, and is seeking monetary damages and injunctive relief. In November 2021, defendants filed motions to dismiss plaintiff's complaint. In September 2022, the district court granted defendants’ motions to dismiss. In October 2022, plaintiff filed a notice of appeal with the U.S. Court of Appeals for the First Circuit. On January 22, 2024, the First Circuit reversed the trial court’s dismissal of the case. On April 18, 2024, defendants filed a Petition for a Writ of Certiorari with the Supreme Court of the United States.

In September 2022, we were named as defendants in 12 nearly identical, separate actions related to a shooting in Highland Park, Illinois on July 4, 2022. The complaints were filed in the Circuit Court of the Nineteenth Judicial Circuit in Lake County, Illinois and assert claims against us for negligence and deceptive and unfair practices under the Illinois Consumer Fraud and Deceptive Business Practices Act. Plaintiffs also name as defendants the website and

retailer that sold the firearm, the shooter, and the shooter’s father. The plaintiffs allege they were present at a parade at the time of the incident and suffered physical and/or emotional injury. The plaintiffs seek compensatory damages, attorneys’ fees, and injunctive relief. We filed motions for removal of each case to the U.S. District Court for the Northern District of Illinois. In November 2022, we filed a motion to consolidate the cases for preliminary motion purposes. In December 2022, plaintiffs filed motions to remand the cases back to the state court. On January 20, 2023, we filed our opposition to plaintiffs’ motion to remand. On September 25, 2023, the court granted plaintiffs’ motion to remand. On October 16, 2023, we filed a notice of appeal to the U.S. Court of Appeals for the Seventh Circuit. On October 20, 2023, we filed a Motion for Stay of the Remand Order with the U.S. District Court, seeking a stay of the remand, pending our appeal to the Seventh Circuit. On October 30, 2023, the court granted a stay of the remand pending appeal. On November 8, 2023, plaintiffs filed a motion to lift the stay pending appeal. No decision has been issued to date on plaintiffs’ motion. We filed our reply to appellee's opposition to our appeal on February 23, 2024. In March 2024, three new suits were filed in the Circuit Court of Lake County, Illinois. On April 8, 2024, the Seventh Circuit affirmed the remand decision. On May 10, 2024, plaintiffs filed a motion for attorneys’ fees incurred as a result of removal. On May 17, 2024, we filed an opposition to plaintiffs’ motion. No decision has been issued to date.

In December 2022, the City of Buffalo, New York filed a complaint in the Supreme Court of the State of New York, County of Erie, against numerous manufacturers, distributors, and retailers of firearms. Later in December 2022, the City of Rochester, New York filed an almost identical complaint in the Supreme Court of the State of New York, County of Monroe, against the same defendants. The complaints allege violation of New York General Business Law, public nuisance, and deceptive business practices in violation of NY General Business Laws. In January 2023, we filed notices of removal of the cases to the U.S. District Court for the Western District of New York. On March 24, 2023, defendants filed a motion to stay both cases pending a ruling by the U.S. Court of Appeals for the Second Circuit in the NSSF v. James case. On June 8, 2023, the court granted defendants’ motions to consolidate and to stay pending resolution of the NSSF v. James appeal.

We believe that the various allegations as described above are unfounded, and, in addition, that any incident and any results from them or any injuries were due to negligence or misuse of the firearm by the claimant or a third party.

In March 2022, two plaintiffs, on behalf of a proposed class of current and former employees and temporary workers who worked at our Springfield facility from November 2018 to the present, filed a claim alleging non-payment of wages and overtime in violation of the Massachusetts Wage Act and Massachusetts Fair Wage Act. The parties have reached a settlement agreement, which was preliminarily approved by the court on March 15, 2024.

In addition, from time to time, we are involved in lawsuits, claims, investigations, and proceedings, including commercial, environmental, premises and employment matters, which arise in the ordinary course of business.

The relief sought in individual cases primarily includes compensatory and, sometimes, punitive damages. Certain of the cases and claims seek unspecified compensatory or punitive damages. In others, compensatory damages sought may range from less than $75,000 to approximately $50.0 million. In our experience, initial demands do not generally bear a reasonable relationship to the facts and circumstances of a particular matter. We believe that our accruals for product liability cases and claims are a reasonable quantitative measure of the cost to us of product liability cases and claims.

We were also involved in a putative stockholder derivative lawsuit filed on December 5, 2023 in the Eighth Judicial District Court, Clark County, Nevada. The action was brought by plaintiffs seeking to act on our behalf against our directors and certain of our executive officers. The complaint alleged breach of fiduciary duties by knowingly allowing us to become exposed to significant liability for intentionally violating federal, state, and local laws through our manufacturing, marketing, and sale of “AR-15 style rifles”. The derivative plaintiffs sought damages on our behalf from the individual defendants, as well as reforms and improvements to our compliance procedures and governance policies. On March 19, 2024, the court granted our motion to require security pursuant to Nevada law. On May 6, 2024, the court dismissed plaintiffs’ action without prejudice for failing to post a bond pursuant to the court’s order.

We are vigorously defending ourselves in the lawsuits to which we are subject. An unfavorable outcome or prolonged litigation could harm our business. Litigation of this nature also is expensive, time consuming, and diverts the time and attention of our management.

We monitor the status of known claims and the related product liability accrual, which includes amounts for defense costs for asserted and unasserted claims. After consultation with litigation counsel and a review of the merit of each claim, we have concluded that we are unable to reasonably estimate the probability or the estimated range of reasonably possible losses related to material adverse judgments related to such claims and, therefore, we have not accrued for any such judgments. In the future, should we determine that a loss (or an additional loss in excess of our accrual) is at least reasonably possible and material, we would then disclose an estimate of the possible loss or range of loss, if such estimate could be made, or disclose that an estimate could not be made. We believe that we have provided adequate accruals for defense costs.

For the fiscal years ended April 30, 2024, 2023, and 2022, we paid $320,000, $988,000, and $729,000, respectively, in defense and administrative costs relative to product liability and municipal litigation. In addition, during fiscal 2024 and 2023, we paid an aggregate of $1.6 million and $1.5 million, respectively, in settlements related to product liability cases. During fiscal 2022, we made no payments related to settlements for product liability cases. As of April 30, 2024 we had no amounts accrued for settlements, that were subsequently paid. As of April 30, 2023, we had $1.6 million accrued for settlements that were subsequently paid.

We have recorded our liability for defense costs before consideration for reimbursement from insurance carriers. We have also recorded the amount due as reimbursement under existing policies from the insurance carriers as a receivable shown in other current assets and other assets.

When changes to our prior estimates of product liability provisions and municipal litigation liabilities are warranted, we recognize additional expense or reductions in expense. In fiscal 2024, 2023, and 2022, we recorded additional expense of $35,000, $176,000, and $1.2 million, respectively.

Commitments

On September 30, 2021, we announced our plan to move our headquarters and significant elements of our operations to Maryville, Tennessee in 2023, or the Relocation. In connection with the Relocation, we entered into a project agreement, or the Project Agreement, with The Industrial Development Board of Blount County and the cities of Alcoa and Maryville, Tennessee, a public, nonprofit corporation organized and existing under the laws of the state of Tennessee, or the IDB. Pursuant to the Project Agreement, we represented to the IDB that we intend to incur, or cause to be incurred, no less than $120.0 million in aggregate capital expenditures on or before December 31, 2025, create no less than 620 new jobs, and sustain an average hourly wage of at least $25.97 at the facility. Further, pursuant to the Project Agreement, we are required to, among other things, (A) execute a facility lease and an equipment lease with the IDB; (B) cause the construction of the new facility at our sole cost and expense to commence on or before May 31, 2022; (C) incur, or cause to be incurred, aggregate capital expenditures in connection with the construction and equipping of the new facility in an aggregate amount of not less than $120.0 million on or before December 31, 2025; (D) cause the construction of the new facility to be substantially completed and for a certificate of occupancy to be issued therefore on or before December 31, 2023; (E) provide the IDB with a written report certified by one of our authorized officers, not later than January 31 of each year during the period between January 31, 2024 and January 31, 2031; and (F) make certain payments to IDB in the event that our actual capital expenditures, number of employees, or average hourly wage of such employees are less than our projections.

On February 2, 2023, we entered into a design-build agreement with The Christman Company, or Christman, related to the construction of our new Tennessee facility, or the Construction Contract. The Construction Contract has an effective date of September 13, 2021 and incorporates the arrangements under which we and Christman have been proceeding. Pursuant to the Construction Contract, Christman is obligated to deliver certain services, including, among others, design phase services and construction phase services, and we are obligated to pay Christman for services performed. The parties to the Construction Contract have jointly agreed that Christman will perform and complete the Work (as defined therein) on a cost-plus basis for a guaranteed maximum price of $114.0 million, including contingencies. When adding the cost of machinery and equipment, we expect to spend between $160.0 million and $170.0 million through the end of fiscal 2025. Through April 30, 2024, we had incurred $157.0 million of capital expenditures related to the Relocation. The Construction Contract includes terms that are customary for contracts of this type, including with respect to indemnification and insurance. The Construction Contract lists certain contract milestones and guaranteed completion dates, and we will be entitled to liquidated damages under certain

circumstances. Each party to the Construction Contract is entitled to terminate the Construction Contract under certain circumstances.

As part of the Relocation, we recorded an impairment of $1.9 million relating to equipment in the Missouri Distribution Center that we do not expect to utilize in the Tennessee facility nor recover the net book value in a sale of the asset. In addition, effective with the Assignment and Assumption Agreement, we vacated the Missouri Distribution Center effective January 1, 2024. We sold assets we could no longer utilize to AOUT at their remaining net book value of $2.9 million and relocated the remaining assets to our Tennessee facility.

In addition, we intend to relocate a portion of our plastic injection molding operations to the Tennessee facility. The relocation of these assets began in our second fiscal quarter of 2024. We are evaluating selling the remaining molding operations utilized in our Connecticut facility to a third party. As of April 30, 2024, most of the plastic injection molding machinery and equipment was being utilized, had been relocated to the Tennessee facility, or had been disposed. We do not believe there are any indications of impairment relating to assets being utilized at the Deep River facility.

Environmental Remediation

We are subject to numerous federal, state, and local laws and regulations that regulate the health and safety of our workforce, including those regulations monitored by the Occupational Health and Safety Administration, or OSHA, the National Fire Protection Association, and the Department of Public Health. Though not exhaustive, examples of applicable regulations include confined space safety, walking and working surfaces, machine guarding, and life safety.

We are also subject to numerous federal, state, and local environmental laws and regulations concerning, among other things, emissions in the air; discharges to land, surface, subsurface strata and water; and the generation, handling, storage, transportation, treatment, and disposal of hazardous wastes and other materials. These laws have required us to make significant expenditures of both a capital and expense nature. Several of the more significant federal laws applicable to our operations include the Clean Air Act, the Clean Water Act, the Comprehensive Environmental Response, Compensation and Liability Act, or CERCLA, and the Solid Waste Disposal Act, as amended by the Resource Conservation and Recovery Act.

We have in place programs and personnel to monitor compliance with various federal, state, and local environmental regulations. In the normal course of our manufacturing operations, we are subject to governmental proceedings and orders pertaining to waste disposal, air emissions, and water discharges into the environment. We fund our environmental costs through cash flows from operations. We believe that we are in compliance with applicable environmental regulations in all material respects.

We are required to remediate hazardous waste at our facilities. Currently, we own a designated site in Springfield, Massachusetts that contains two release areas, which are the focus of remediation projects as part of the Massachusetts Contingency Plan, or MCP. The MCP provides a structured environment for the voluntary remediation of regulated releases. We may be required to remove hazardous waste or remediate the alleged effects of hazardous substances on the environment associated with past disposal practices at sites not owned by us. We have received notice that we are a potentially responsible party from the Environmental Protection Agency and/or individual states under CERCLA or a state equivalent at two sites.

As of April 30, 2024, and 2023, we did not have an open environmental reserve recorded in our consolidated balance sheet.

When the available information is sufficient to estimate the amount of liability, that estimate has been used. When the information is only sufficient to establish a range of probable liability and no point within the range is more likely than any other, the lower end of the range has been used. We may not have insurance coverage for our environmental remediation costs. We have not recognized any gains from probable recoveries or other gain contingencies.

Based on information known to us, we do not expect current environmental regulations or environmental proceedings and claims to have a material adverse effect on our consolidated financial position, results of operations, or cash flows. However, it is not possible to predict with certainty the impact on us of future environmental compliance requirements or the cost of resolving of future environmental health and safety proceedings and claims, in part because the scope of the remedies that may be required is not certain, liability under federal environmental laws is joint and several in nature, and environmental laws and regulations are subject to modification and changes in interpretation. There can be no assurance that additional or changing environmental regulation will not become more burdensome in the future and that any such development would not have a material adverse effect on our company.

Contracts

Employment Agreements — We have employment, severance, and change of control agreements with certain employees.

Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Apr. 30, 2024	Jun. 18, 2024	Oct. 31, 2023
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Apr. 30, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Entity Registrant Name	Smith & Wesson Brands, Inc.
Entity Central Index Key	0001092796
Current Fiscal Year End Date	--04-30
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
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 File Number	1-31552
Entity Incorporation, State or Country Code	NV
Entity Tax Identification Number	87-0543688
Entity Address, Address Line One	2100 Roosevelt Avenue
Entity Address, City or Town	Springfield
Entity Common Stock, Shares Outstanding		45,559,503
Entity Address, State or Province	MA
Auditor Name	Deloitte & Touche LLP
Entity Address, Postal Zip Code	01104
City Area Code	800
Auditor Location	Hartford, CT, USA
Local Phone Number	331-0852
Document Annual Report	true
Document Transition Report	false
ICFR Auditor Attestation Flag	false
Document Financial Statement Error Correction [Flag]	false
Entity Public Float			$ 665,373,220
Title of each Class	Common Stock, Par Value $.001 per Share
Trading Symbol	SWBI
Name of exchange on which registered	NASDAQ
Documents Incorporated by Reference	Portions of the registrant’s definitive proxy statement for the 2024 Annual Meeting of Stockholders are incorporated by reference into Part III of this Form 10-K.
Auditor Firm ID	34

Leases - Summary of Future Lease Payments for Operating and Finance Leases (Detail) - USD ($) $ in Thousands	Apr. 30, 2024	Apr. 30, 2023
Operating and Finance Lease liabilities payments
2025	$ 4,411
2026	3,734
2027	3,770
2028	3,541
2029	3,408
Thereafter	35,498
Total future lease payments	54,362
Less amounts representing interest	(15,873)
Present value of lease payments	38,489
Less current maturities of lease liabilities	(2,511)
Long-term maturities of lease liabilities	35,978
Operating Leases
2025	1,033
2026	301
2027	272
2028	125
2029	0
Thereafter	0
Total future lease payments	1,731
Less amounts representing interest	(210)
Total operating lease liabilities	1,521	$ 2,075
Less current maturities of lease liabilities	(947)	(1,274)
Long-term maturities of lease liabilities	574	801
Financing Leases
2025	3,378
2026	3,433
2027	3,498
2028	3,416
2029	3,408
Thereafter	35,498
Total future lease payments	52,631
Less amounts representing interest	(15,663)
Total finance lease liabilities	36,968	38,395
Less current maturities of lease liabilities	(1,564)	(1,434)
Non-current liabilities	$ 35,404	$ 36,961

Income Taxes - Deferred Tax Assets (Liabilities) Related to Temporary Differences (Detail) - USD ($) $ in Thousands	Apr. 30, 2024	Apr. 30, 2023
Deferred Tax Assets, Net [Abstract]
Inventory reserves	$ 8,489	$ 7,495
Accrued expenses, including compensation	4,678	4,764
Net operating loss carryforwards and tax credits	3,988	3,156
Operating lease liability	240	473
Product liability	191	596
Workers' compensation	704	477
State bonus depreciation	1,812	755
Warranty reserve	1,017	913
Stock-based compensation	1,319	1,551
Section 174 capitalized R&D expense	2,502	1,549
Other	820	622
Total deferred tax assets before valuation allowance	25,760	22,351
Valuation allowance	(3,350)	(3,031)
Net deferred tax assets	22,410	19,320
Deferred Tax Liabilities
Operating lease right-of-use assets	(197)	(420)
Property, plant, and equipment	(12,426)	(8,847)
Intangible assets	(2,270)	(1,581)
Other	(268)	(387)
Deferred Tax Liabilities, Net, Total	(15,161)	(11,235)
Net Deferred Tax Asset/(Liability)	$ 7,249	$ 8,085

Significant Accounting Policies

12 Months Ended

Apr. 30, 2024

Accounting Policies [Abstract]

Significant Accounting Policies

2. Significant Accounting Policies


Description	Useful Life
Building and improvements		10 to 40 years
Software and hardware		2 to 7 years
Machinery and equipment		2 to 10 years

We include tooling, dies, and fixtures as part of machinery and equipment and depreciate them over a period generally not exceeding ten years.


	For the Year Ended April 30,
	2024		2023		2022
Net income	$	39,609	$	36,876	$	194,494
Weighted average shares outstanding — Basic		45,813		45,844		47,227
Effect of dilutive stock awards		436		326		501
Weighted average shares outstanding — Diluted		46,248		46,170		47,728
Earnings per share — Basic	$	0.86	$	0.80	$	4.12
Earnings per share — Diluted	$	0.86	$	0.80	$	4.08

that the carrying values may not be recoverable and at least annually. Factors we consider important, which could trigger an impairment of such assets, include the following:

•

significant underperformance relative to historical or projected future operating results;

•

significant changes in the manner or use of the assets or the strategy for our overall business;

•

significant negative industry or economic trends;

•

a significant decline in our stock price for a sustained period; and

•

a decline in our market capitalization below net book value.

Warranty expense for the fiscal years ended April 30, 2024, 2023, and 2022 amounted to $2.6 million, $1.5 million, and $1.9 million, respectively.

The following table sets forth the change in accrued warranties, a portion of which is recorded as a non-current liability, in the fiscal years ended April 30, 2024, 2023, and 2022 (in thousands):



Balance as of April 30, 2022	$	4,873
Warranties issued and adjustments to provisions		1,496
Warranty claims		(2,364	)
Balance as of April 30, 2023		4,005
Warranties issued and adjustments to provisions		2,560
Warranty claims		(2,681	)
Balance as of April 30, 2024	$	3,884

Recently Issued Accounting Standards — There are no new accounting pronouncements that are expected to have a significant impact on our consolidated financial statements.

Leases - Schedule of Assets and Liabilities Related to Operating and Financing Leases (Detail) - USD ($) $ in Thousands	Apr. 30, 2024	Apr. 30, 2023
Operating Leases
Right-of-use assets	$ 6,761	$ 5,994
Accumulated amortization	(5,411)	(4,153)
Right-of-use assets, net	$ 1,350	$ 1,841
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Other assets	Other assets
Current liabilities	$ 947	$ 1,274
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Accrued expenses and deferred revenue	Accrued expenses and deferred revenue
Non-current liabilities	$ 574	$ 801
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Other non-current liabilities	Other non-current liabilities
Total operating lease liabilities	$ 1,521	$ 2,075
Finance Leases
Right-of-use assets	41,631	41,631
Accumulated depreciation	(11,713)	(9,448)
Right-of-use assets, net	$ 29,918	$ 32,183
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Property, plant, and equipment, net	Property, plant, and equipment, net
Current liabilities	$ 1,564	$ 1,434
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	Accrued expenses and deferred revenue	Accrued expenses and deferred revenue
Non-current liabilities	$ 35,404	$ 36,961
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Non-current liabilities	Non-current liabilities
Total finance lease liabilities	$ 36,968	$ 38,395

Stockholders' Equity - Summary of Activity for Unvested RSUs and PSUs (Parenthetical) (Details) - shares	12 Months Ended
	Apr. 30, 2023	Apr. 30, 2020
PSUs
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock unit vested	55,726	28,800

- 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

Restructuring

12 Months Ended

Apr. 30, 2024

Restructuring Costs [Abstract]

Restructuring

16. Restructuring

As a result of the Relocation, $7.1 and $8.3 million of restructuring charges were recorded in fiscal 2024 and fiscal 2023, respectively.

The following table summarizes restructuring charges by line item for fiscal 2024 and fiscal 2023 (in thousands):


	For the Year Ended April 30,
	2024		2023
Cost of sales	$	2,116	$	3,923
Research and development		—		3
Selling, marketing, and distribution		2,974		1,055
General and administrative		1,963		3,280
Total restructuring charges	$	7,053	$	8,261

The components of the restructuring charges recorded in our consolidated statements of income are as follows (in thousands):


	For the Year Ended April 30,
	2024			2023
Office rent and equipment	$	2,298		$	229
Employee relations		2,011			349
Consulting services		992			473
Public relations		904			—
Relocation (a)		887			2,856
Freight		199			—
Severance and employee-related benefits (a)		(238	)		4,354
Total restructuring charges	$	7,053		$	8,261

____________________________________

(a)

Recorded in accrued payroll and incentives

The following table summarizes the activity in the severance and employee-related benefits and relocation accruals for fiscal 2024 and fiscal 2023 (in thousands):


	Severance and employee-related benefits			Relocation			Total
Accrual at April 30, 2023	$	10,054		$	1,746		$	11,800
Charges		(238	)		887			649
Cash payments and settlements		(4,289	)		(1,805	)		(6,094	)
Accrual at April 30, 2024 (a)	$	5,527		$	828		$	6,355

___________________________________

(a)

Recorded in accrued payroll and incentives

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2022
Income Statement [Abstract]
Net sales	$ 535,833	$ 479,242	$ 864,126
Cost of sales	377,740	324,705	489,562
Gross profit	158,093	154,537	374,564
Operating expenses:
Research and development	7,266	7,550	7,262
Selling, marketing, and distribution	40,564	36,976	43,156
General and administrative	65,484	61,604	72,493
Total operating expenses	113,314	106,130	122,911
Operating income	44,779	48,407	251,653
Other income/(expense), net:
Other income, net	6,672	150	2,868
Interest expense, net	(2,055)	(331)	(2,135)
Total other income/(expense), net	4,617	(181)	733
Income from operations before income taxes	49,396	48,226	252,386
Income tax expense	(9,787)	(11,350)	(57,892)
Net income	$ 39,609	$ 36,876	$ 194,494
Net income per share:
Basic - net income	$ 0.86	$ 0.8	$ 4.12
Diluted - net income	$ 0.86	$ 0.8	$ 4.08
Weighted average number of common shares outstanding:
Basic	45,813	45,844	47,227
Diluted	46,248	46,170	47,728

Net Sales (Tables)

12 Months Ended

Apr. 30, 2024

Disclosure Net Sales [Abstract]

Breakdown of Net Sales

The following table sets forth the breakdown of net sales for the fiscal years ended April 30, 2024, 2023, and 2022 (in thousands):


	For the Years Ended April 30,
	2024		2023		2022
Handguns	$	381,898	$	360,668	$	624,219
Long Guns		116,491		74,230		189,467
Other Products & Services		37,444		44,344		50,440
Total Net Sales	$	535,833	$	479,242	$	864,126

Breakdown of Export Net Sales

The following table sets forth the breakdown of export net sales included in the above table. Our export net sales shown below accounted for approximately 5%, 4%, and 3% of total net sales for the fiscal years ended April 30, 2024, 2023, and 2022, respectively (in thousands):


	For the Years Ended April 30,
Region	2024		2023		2022

Asia	$	9,346	$	5,411	$	3,899
Latin America		5,314		4,052		5,272
Europe		4,786		6,569		8,342
All others international		5,143		3,736		8,014

Total international net sales	$	24,589	$	19,768	$	25,527

Employer Sponsored Benefit Plans - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2022
Contributory Defined Investment Plan
Defined Contribution Plan Disclosure [Line Items]
Defined contribution plan, employee contribution percentage	100.00%
Defined contribution plan, matching contribution percentage	6.00%
Deferred compensation plan description	We offer two contributory defined investment plans covering substantially all employees, subject to service requirements. Employees may contribute up to 100% of their annual pay, depending on the plan. We generally make discretionary matching contributions of up to 50% of the first 6% of employee contributions to the plan.
Employer contribution to defined benefit plan	$ 2.7	$ 2.6	$ 2.9
Contributory Defined Investment Plan \| Maximum
Defined Contribution Plan Disclosure [Line Items]
Defined contribution plan, matching contribution percentage of match	50.00%
Nonelective Contribution Sharing Plan
Defined Contribution Plan Disclosure [Line Items]
Employer contribution to defined benefit plan		8.2	$ 13.5
Defined contribution plan expected contribution		$ 9.1

Self-Insurance Reserves

12 Months Ended

Apr. 30, 2024

Commitments and Contingencies Disclosure [Abstract]

Self-Insurance Reserves

11. Self-Insurance Reserves

As of April 30, 2024 and 2023, we had reserves for workers’ compensation, product liability, and medical/dental costs totaling $8.7 million and $9.2 million, respectively, of which $3.3 million and $2.6 million, respectively, was classified as other non-current liabilities. As of April 30, 2024 and 2023, $5.4 million and $6.6 million, respectively, were included in accrued expenses or accounts payable on the accompanying consolidated balance sheets. In addition, as of April 30, 2024 and 2023, $984,000 and $663,000, respectively, of workers’ compensation recoverable was classified as other assets. While we believe these reserves to be adequate, it is possible that the ultimate liabilities will exceed such estimates.


	For the Year Ended April 30,
	2024			2023
Beginning balance	$	9,239		$	8,676
Additional provision charged to expense		2,921			3,589
Payments		(3,461	)		(3,026	)
Ending balance	$	8,699		$	9,239

It is our policy to provide an estimate for loss as a result of expected adverse findings or legal settlements on product liability, workers’ compensation, and other matters when such losses are probable and are reasonably estimable. It is also our policy to accrue for reasonably estimable legal costs associated with defending such litigation. While such estimates involve a range of possible costs, we determine, in consultation with counsel, the most likely cost within such range on a case-by-case basis. We also record receivables from insurance carriers relating to these matters when their collection is probable and reasonably estimable. As of April 30, 2024 and 2023, we had accrued reserves for product litigation liabilities of $3.1 million and $4.3 million, respectively (of which $497,000 and $568,000, respectively, was non-current), consisting entirely of expected legal defense costs. During fiscal 2024, we did not record any receivables from insurance carriers related to these liabilities. Prior to fiscal 2024, we had recorded receivables from insurance carriers related to these liabilities of $1.9 million, nearly all of which has been classified as other non-current assets.

Notes, Loans Payable, and Financing Arrangements

12 Months Ended

Apr. 30, 2024

Debt Disclosure [Abstract]

Notes, Loans Payable, and Financing Arrangements

4. Notes, Loans Payable, and Financing Arrangements

Credit Facilities — On August 24, 2020, we and certain of our subsidiaries entered into an amended and restated credit agreement, or the Amended and Restated Credit Agreement, with certain lenders, including TD Bank, N.A., as administrative agent; TD Securities (USA) LLC and Regions Bank, as joint lead arrangers and joint bookrunners; and Regions Bank, as syndication agent. The Amended and Restated Credit Agreement is currently unsecured; however, should any Springing Lien Trigger Event (as defined in the Amended and Restated Credit Agreement) occur, we and certain of our subsidiaries would be required to execute certain documents in favor of TD Bank, N.A., as administrative agent, and the lenders party to such documents would have a legal, valid, and enforceable ‎first priority lien on the collateral described therein.

The Amended and Restated Credit Agreement provides for a revolving line of credit of $100.0 million at any one time, or the Revolving Line. The Revolving Line bears interest at either the Base Rate (as defined in the Amended and Restated Credit Agreement) or the SOFR rate, plus an applicable margin based on our consolidated leverage ratio. The Amended and Restated Credit Agreement also provides a swingline facility in the maximum amount of $5.0 million at any one time (subject to availability under the Revolving Line). Each Swingline Loan (as defined in the Amended and Restated Credit Agreement) bears interest at the Base Rate, plus an applicable margin based on our Adjusted Consolidated Leverage Ratio (as defined in the Amended and Restated Credit Agreement). Subject to the satisfaction of certain terms and conditions described in the Amended and Restated Credit Agreement, we have an option to increase the Revolving Line by an aggregate amount not exceeding $50.0 million. The Revolving Line matures on the earlier of August 24, 2025 or the date that is six months in advance of the earliest maturity of any Permitted Notes (as defined in the Amended and Restated Credit Agreement) under the Amended and Restated Credit Agreement. On April 28, 2023, we entered into an amendment to our existing credit agreement to, among other things, replace LIBOR with SOFR as the interest rate benchmark and amend the definition of “Consolidated Fixed Charge Coverage Ratio” to exclude unfinanced capital expenditures in connection with the Relocation.

As of April 30, 2024, we had $40.0 million of borrowings outstanding on the Revolving Line, which bore an interest rate of 7.18%, which is equal to the SOFR rate plus an applicable margin. As a result of the construction associated with the Relocation, $759,000 of interest was capitalized as of April 30, 2024.

The Amended and Restated Credit Agreement contains customary limitations, including limitations on indebtedness, liens, fundamental changes to business or organizational structure, investments, loans, advances, guarantees, and acquisitions, asset sales, dividends, stock repurchases, stock redemptions, and the redemption or prepayment of other debt, and transactions with affiliates. We are also subject to financial covenants, including a minimum consolidated fixed charge coverage ratio and a maximum consolidated leverage ratio. As of April 30, 2024, we were compliant with all required financial covenants.

Letters of Credit – At April 30, 2024, we had outstanding letters of credit aggregating $2.7 million, which included a $1.5 million letter of credit to collateralize our captive insurance company.

Debt Issuance Costs — During the fiscal years ended 2024, 2023, and 2022, we did not incur any debt issuance costs. We recorded, in notes payable, $450,000 of debt issuance costs during fiscal 2021. The remaining costs are

being amortized to expense over the life of the credit facility. In total, we amortized $89,805, $89,560, and $89,560 to interest expense for all debt issuance costs in fiscal 2024, 2023, and 2022, respectively.

- 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
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//470/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details

Income Taxes (Tables)

12 Months Ended

Apr. 30, 2024

Income Tax Disclosure [Abstract]

Income Tax Expense/(Benefit) from Continuing Operations

Income tax expense/(benefit) from continuing operations consisted of the following (in thousands):


	For the Year Ended April 30,
	2024			2023			2022
Current:
Federal	$	6,315		$	16,259		$	52,843
State		2,637			1,955			7,174
Total current		8,952			18,214			60,017
Deferred:
Federal		2,558			(6,217	)		(1,889	)
State		(1,723	)		(647	)		(236	)
Total deferred		835			(6,864	)		(2,125	)
Total income tax expense	$	9,787		$	11,350		$	57,892

Reconciliation of Provision for Income Taxes from Continuing Operations


	For the Year Ended April 30,
	2024			2023			2022
Federal income taxes expected at the statutory rate	$	10,373		$	10,127		$	53,001
State income taxes, net of federal tax effects		(225	)		1,023			5,503
Stock compensation		467			136			(749	)
Business meals and entertainment		100			89			118
Research and development tax credit		(281	)		(265	)		(300	)
Amendments to prior year returns		(1,176	)		—			—
Other		529			240			319
Total income tax expense	$	9,787		$	11,350		$	57,892

Deferred Tax Assets (Liabilities) Related to Temporary Differences

Deferred tax assets and liabilities related to temporary differences consisted of the following (in thousands):


	For the Years Ended April 30,
	2024			2023
Deferred Tax Assets
Inventory reserves	$	8,489		$	7,495
Accrued expenses, including compensation		4,678			4,764
Net operating loss carryforwards and tax credits		3,988			3,156
Operating lease liability		240			473
Product liability		191			596
Workers' compensation		704			477
State bonus depreciation		1,812			755
Warranty reserve		1,017			913
Stock-based compensation		1,319			1,551
Section 174 capitalized R&D expense		2,502			1,549
Other		820			622
Total deferred tax assets before valuation allowance		25,760			22,351
Valuation allowance		(3,350	)		(3,031	)
Net deferred tax assets		22,410			19,320
Deferred Tax Liabilities
Operating lease right-of-use assets		(197	)		(420	)
Property, plant & equipment		(12,426	)		(8,847	)
Intangible assets		(2,270	)		(1,581	)
Other		(268	)		(387	)
Total deferred tax liabilities		(15,161	)		(11,235	)
Net Deferred Tax Asset/(Liability)	$	7,249		$	8,085