FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

6 Months Ended

Nov. 30, 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 November 30, 2022 (in thousands):

	Balance as of
	November 30, 2022		Level 1		Level 2		Level 3
Money market funds	$	11,308	$	11,308	$	-	$	-
U.S. treasury securities		21,683		21,683		-		-
Assets	$	32,991	$	32,991	$	-	$	-

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	$	-	$	-