FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

3 Months Ended

Aug. 31, 2022

FAIR VALUE OF FINANCIAL INSTRUMENTS

Fair value by hierarchy

The following table summarizes the Company’s financial assets measured at fair value on a recurring basis as of August 31, 2022 (in thousands):

	Balance as of
	August 31, 2022		Level 1		Level 2		Level 3
Money market funds	$	34,733	$	34,733	$	-	$	-
Assets	$	34,733	$	34,733	$	-	$	-

The following table summarizes the Company’s financial assets measured at fair value on a recurring basis as of May 31, 2022 (in thousands):

	Balance as of
	May 31, 2022		Level 1		Level 2		Level 3
Money market funds	$	28,609	$	28,609	$	-	$	-
Assets	$	28,609	$	28,609	$	-	$	-