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Contract Assets and Liabilities
 3 Months Ended
Aug. 25, 2024
Revenue from Contract with Customer [Abstract]  
Contract Assets and Liabilities Revenue
The Company disaggregates its revenue based on how it markets its products and services and reviews results of operations. The following table disaggregates revenues by major product lines and services:
Three Months Ended
August 25, 2024August 27, 2023
CDMO$20,180 $21,539 
Fermentation4,525 2,983 
Total$24,705 $24,522 
The following table disaggregates revenues by the timing of revenue recognition:
Three Months Ended
August 25, 2024August 27, 2023
CDMO - Developmental Services revenue recognized over time$5,876 $6,381 
Revenues recognized at a point in time18,829 18,141 
Total$24,705 $24,522 
During the three months ended August 25, 2024, the Company had revenues concentrations of 10% or greater from two customers, accounting for 32% and 24%. During the three months ended August 27, 2023, the Company had revenues concentrations of 10% or greater from three customers, accounting for 31%, 21%, and 15%.
Contract Assets and Liabilities
Contract assets primarily relate to the Company’s unconditional right to consideration for work completed but not billed at the reporting date.
Contract liabilities primarily relate to payments received from customers in advance of performance under a contract. Any incremental costs of obtaining a contract are expensed as incurred.

DescriptionBalance Sheet PresentationAugust 25, 2024May 26, 2024
Assets:
Receivables not yet billedAccounts receivable, less allowance for credit losses$4,033 $3,885 
Related party receivables not yet billedAccounts receivable, related party92 184 
Total contract assets$4,125 $4,069 
Current Liabilities:
Advances on customer-owned equipmentOther accrued liabilities$3,590 $3,509 
Non related parties deferred revenueDeferred revenues339 1,088 
Related party deferred revenueDeferred revenues, related party315 1,025 
Non-Current Liabilities:
Related party deferred revenueDeferred revenues, less current portion, related party4,791 4,703 
Non-current customer depositOther non-current liabilities216 257 
Total contract liabilities$9,251 $10,582 

Revenues recognized during the three months ended August 25, 2024 that were included in the contract liability balance at the beginning of fiscal year 2025, were $1,583.


DescriptionBalance Sheet PresentationAugust 27, 2023May 28, 2023
Assets:
Receivables not yet billedAccounts receivable, less allowance for credit losses$4,082 $3,055 
Related party receivables not yet billedAccounts receivable, related party44 143 
Total contract assets$4,126 $3,198 
Current Liabilities:
Non related parties deferred revenueDeferred revenues$101 $552 
Related party deferred revenueDeferred revenues, related party8,256 3,503 
Non-Current Liabilities:
Related party deferred revenueDeferred revenues, less current portion, related party1,687 2,940 
Total contract liabilities$10,044 $6,995 

Revenues recognized during the three months ended August 27, 2023, that were included in the contract liability balance at the beginning of fiscal year 2024, were $2,022.