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Lease Obligations (Tables)
6 Months Ended
Nov. 30, 2024
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Net Assets and Liabilities Related to Operating Leases

The net assets and liabilities related to operating leases were as follows (in thousands):

Lease Type

 

November 30, 2024

 

 

June 1, 2024

 

Right of use lease assets

 

$

2,321

 

 

$

2,760

 

 

 

 

 

 

 

Lease liabilities current

 

 

1,075

 

 

 

1,169

 

 

 

 

 

 

 

Lease liabilities non-current

 

 

1,246

 

 

 

1,591

 

 

Components of Lease Costs

The components of lease costs were as follows (in thousands):

 

 

 

 

Three Months Ended

 

 

 

 

 

November 30, 2024

 

 

December 2, 2023

 

Consolidated operating lease expense

 

Operating expenses

 

$

419

 

 

$

417

 

 

 

 

 

 

Six Months Ended

 

 

 

 

 

November 30, 2024

 

 

December 2, 2023

 

Consolidated operating lease expense

 

Operating expenses

 

$

854

 

 

$

871

 

Schedule of Future Minimum Lease Payments under Operating Leases

The approximate future minimum lease payments under operating leases at November 30, 2024 were as follows (in thousands):

Fiscal Year

 

Operating Leases

 

Remaining 2025

 

$

664

 

2026

 

 

981

 

2027

 

 

451

 

2028

 

 

223

 

2029

 

 

142

 

     Total lease payments

 

 

2,461

 

Less imputed interest

 

 

140

 

     Net minimum lease payments

 

$

2,321

 

Schedule of Weighted Average Remaining Lease Terms and Interest Rates of Leases

The weighted average remaining lease terms and interest rates of leases held by the Company as of November 30, 2024 and December 2, 2023 were as follows:

Operating Lease as of:

 

Weighted Average Remaining
Lease Term in Years

 

Weighted Average Interest Rate

November 30, 2024

 

4.8

 

4.8%

December 2, 2023

 

2.3

 

4.2%

Schedule of Cash Activities Associated with our Leases

The cash activities associated with our leases for the three month and six month periods ended November 30, 2024 and December 2, 2023 were as follows (in thousands):

 

 

 

 

Three Months Ended

 

Cash Flow Source

 

Classification

 

November 30, 2024

 

 

December 2, 2023

 

 

 

 

 

 

 

 

 

 

Operating cash flows from operating leases

 

Operating activities

 

$

343

 

 

$

201

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Six Months Ended

 

Cash Flow Source

 

Classification

 

November 30, 2024

 

 

December 2, 2023

 

 

 

 

 

 

 

 

 

 

Operating cash flows from operating leases

 

Operating activities

 

$

696

 

 

$

312