FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

3 Months Ended

Aug. 31, 2023

FAIR VALUE OF FINANCIAL INSTRUMENTS

Cash, cash equivalents and investments by security type

Balances as of August 31, 2023			Gross Unrealized		Estimated
(In thousands)	Cost		Loss		Fair Value
Cash	$	2,130	$	-	$	2,130
Cash equivalents:
Money market funds	$	48,825	$	-	$	48,825
Total cash and cash equivalents	$	50,955	$	-	$	50,955
Long-term investments:
Money market funds	$	150	$	-	$	150
Total cash, cash equivalents and investments	$	51,105	$	-	$	51,105

			Gross
Balances as of May 31, 2023			Unrealized			Estimated
(In thousands)	Cost		Loss			Fair Value
Cash	$	3,182	$	-		$	3,182
Cash equivalents:
Money market funds	$	26,872	$	-		$	26,872
Total cash and cash equivalents	$	30,054	$	-		$	30,054
Short term investments:
U. S. treasury securities	$	17,870	$	(17	)	$	17,853
Long-term investments:
Money market funds	$	150	$	-		$	150
Total cash, cash equivalents and investments	$	48,074	$	(17	)	$	48,057

Fair value by hierarchy

	Balance as of
(In thousands)	August 31, 2023		Level 1		Level 2		Level 3
Money market funds	$	48,975	$	48,975	$	-	$	-
Total	$	48,975	$	48,975	$	-	$	-

	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	$	-	$	-