FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

9 Months Ended

Feb. 29, 2024

FAIR VALUE OF FINANCIAL INSTRUMENTS

Fair value by hierarchy

	Balance as of
(In thousands)	February 29, 2024		Level 1		Level 2		Level 3
Money market funds	$	44,189	$	44,189	$	-	$	-
Total	$	44,189	$	44,189	$	-	$	-

	Balance as of
(In thousands)	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	$	-	$	-

Cash, cash equivalents and investments by security type

			Gross
Balances as of February 29, 2024			Unrealized		Estimated
(In thousands)	Cost		Loss		Fair Value
Cash	$	3,542	$	-	$	3,542
Cash equivalents:
Money market funds	$	44,039	$	-	$	44,039
Total cash and cash equivalents	$	47,581	$	-	$	47,581
Long-term investments:
Money market funds	$	150	$	-	$	150
Total cash, cash equivalents and investments	$	47,731	$	-	$	47,731

			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