XML 16 R7.htm IDEA: XBRL DOCUMENT v3.22.4
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Thousands
6 Months Ended
Nov. 30, 2022
Nov. 30, 2021
Cash flows from operating activities:    
Net income $ 4,314 $ 1,413
Adjustments to reconcile net income to net cash provided by operating activities:    
Stock-based compensation expense 1,503 1,306
Provision for doubtful accounts 24 0
Depreciation and amortization 191 149
Accretion of investment discount (64) 0
Gain from forgiveness of PPP loan 0 (1,698)
Changes in operating assets and liabilities:    
Trade and other accounts receivable 2,618 (2,284)
Inventories (3,094) (4,212)
Prepaid expenses and other assets 196 60
Accounts payable (210) 512
Accrued expenses (1,045) 104
Customer deposits and deferred revenue 1,221 9,970
Income taxes payable 4 11
Net cash provided by operating activities 5,266 5,211
Cash flows from investing activities:    
Purchases of investments (17,652) 0
Purchases of property and equipment (99) (132)
Net cash used in investing activities (17,751) (132)
Cash flows from financing activities:    
Line of credit repayments, net 0 (1,400)
Proceeds from issuance of common stock under employee plans 1,112 3,003
Shares repurchased for tax withholdings on vesting of restricted stock units (1,216) (259)
Proceeds from issuance of common stock from public offering, net of issuance costs 0 24,030
Net cash (used in) provided by financing activities (104) 25,374
Effect of exchange rates on cash, cash equivalents and restricted cash (21) (4)
Net (decrease) increase in cash, cash equivalents and restricted cash (12,610) 30,449
Cash, cash equivalents and restricted cash, beginning of period(1) 31,564 4,662
Cash, cash equivalents and restricted cash, end of period(1) $ 18,954 $ 35,111