LEASES (Tables)

12 Months Ended

May 31, 2023

Leases [Abstract]

Summary of Lease Cost, Supplemental Cash Flow and Other Information

The Company presents lease costs as follows:

(in thousands)		Fiscal Year Ended
Lease Type	Consolidated Statements of Operations Presentation	May 31, 2023		May 31, 2022
Operating lease cost:
Operating lease expense	Selling, General and Administrative	$	347	$	328
Short-term lease expense	Selling, General and Administrative	187		126
Sublease Income	Selling, General and Administrative	(103)		(159)
Total operating lease cost		$	431	$	295
Finance lease expense:
Amortization of ROU assets related to revenue production	Cost of Sales	554		85
Amortization of ROU assets not related to revenue production	Depreciation and Amortization Expense	2,782		26
Interest on finance leases	Interest Expense	773		50
Variable finance lease expense	Selling, General and Administrative	3		—
Total finance lease cost		$	4,112	$	161
Total Lease Cost		$	4,543	$	456

Supplemental cash flow and other information related to leases is as follows:

	Fiscal Year Ended
	May 31, 2023		May 31, 2022
Weighted-average years remaining (in years)
Finance leases	22		57
Operating leases	3		4
Weighted-average discount rate
Finance leases	8	%	8	%
Operating leases	11	%	13	%

Schedule of Future Minimum Finance Lease Payments

The following table represents the Company’s future minimum lease payments as of May 31, 2023:

(in thousands)
Year	Operating Leases		Finance Leases		Total
FY24	$	445	$	6,687	$	7,132
FY25	482		5,429		5,911
FY26	495		348		844
FY27	158		188		346
FY28	—		180		180
Beyond	—		87,145		87,145
Total	$	1,580	$	99,977	$	101,557
Present value of lease liabilities	$	(255)	$	(85,921)	$	(86,176)
Less: Current portion of lease liability	$	320	$	5,722	$	6,042
Long-term portion of lease liability	$	1,005	$	8,334	$	9,339

Schedule of Future Minimum Operating Lease Payments

The following table represents the Company’s future minimum lease payments as of May 31, 2023:

(in thousands)
Year	Operating Leases		Finance Leases		Total
FY24	$	445	$	6,687	$	7,132
FY25	482		5,429		5,911
FY26	495		348		844
FY27	158		188		346
FY28	—		180		180
Beyond	—		87,145		87,145
Total	$	1,580	$	99,977	$	101,557
Present value of lease liabilities	$	(255)	$	(85,921)	$	(86,176)
Less: Current portion of lease liability	$	320	$	5,722	$	6,042
Long-term portion of lease liability	$	1,005	$	8,334	$	9,339