FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

May 31, 2023

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 May 31, 2023 (in thousands):

	Balance as of
	May 31, 2023		Level 1		Level 2		Level 3
Money market funds	$	27,022	$	27,022	$	-	$	-
U.S. treasury securities		17,853		17,853
Total	$	44,875	$	44,875	$	-	$	-

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	$	-	$	-
Total	$	28,609	$	28,609	$	-	$	-