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BALANCE SHEET INFORMATION (Tables)
9 Months Ended
Feb. 29, 2024
BALANCE SHEET INFORMATION  
Inventories

 

 

February 29,

 

 

May 31,

 

(In thousands)

 

2024

 

 

2023

 

Raw materials and sub-assemblies

 

$24,770

 

 

$15,953

 

Work in process

 

 

11,080

 

 

 

5,764

 

Finished goods

 

 

2,235

 

 

 

2,191

 

 

 

$38,085

 

 

$23,908

 

Property and equipment, net

 

 

Useful life

 

February 29,

 

 

May 31,

 

(In thousands)

 

(in years)

 

2024

 

 

2023

 

Leasehold improvements

 

 *

 

$1,643

 

 

$1,310

 

Machinery and equipment

 

 3 - 5

 

 

5,775

 

 

 

5,445

 

Test equipment

 

 4 - 5

 

 

3,030

 

 

 

2,998

 

Furniture and fixtures

 

 2 - 5

 

 

717

 

 

 

706

 

 

 

 

 

 

11,165

 

 

 

10,459

 

Less: accumulated depreciation and amortization

 

 

 

 

(8,015)

 

 

(7,700)

 

 

 

 

$3,150

 

 

$2,759

 

Liability for product warranties

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

February 29,

 

 

February 28,

 

 

February 29,

 

 

February 28,

 

(In thousands)

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Balance at the beginning of the period

 

$221

 

 

$311

 

 

$267

 

 

$410

 

Accruals for warranties issued during the period

 

 

117

 

 

 

84

 

 

 

344

 

 

 

207

 

Adjustments to previously existing warranty accruals

 

 

-

 

 

 

-

 

 

 

-

 

 

 

61

 

Consumption of reserves

 

 

(123)

 

 

(107)

 

 

(396)

 

 

(390)

Balance at the end of the period

 

$215

 

 

$288

 

 

$215

 

 

$288

 

Customer deposits and deferred revenue, short-term

 

 

February 29,

 

 

May 31,

 

(In thousands)

 

2024

 

 

2023

 

Customer deposits

 

$418

 

 

$2,690

 

Deferred revenue

 

 

68

 

 

 

132

 

 

 

$486

 

 

$2,822