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Summary of Significant Accounting Policies (Tables)
12 Months Ended
May 31, 2024
Accounting Policies [Abstract]  
Schedule of Classification and Maturities of Marketable Securities

Marketable Securities as of May 31, 2024 and 2023 are listed below by classification and remaining maturities.

 

 

 

 

Year Ended May 31,

 

 

 

Maturity

 

2024

 

 

2023

 

Commercial Paper & Corporate Bonds

 

0 - 90 days

 

$

325

 

 

$

22,552

 

 

91 -180 days

 

 

 

 

 

35,692

 

 

181 days -1 year

 

 

 

 

 

23,768

 

 

1 - 2 years

 

 

 

 

 

317

 

Total Marketable Securities

 

 

 

$

325

 

 

$

82,329

 

Summary of Components of Marketable Securities

The components of marketable securities as of May 31, 2024 are as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amortized
Cost

 

 

Unrealized
Gains

 

 

Unrealized
Losses

 

 

Fair Value

 

Commercial Paper & Corporate Bonds

 

$

325

 

 

$

 

 

$

 

 

$

325

 

 

The components of marketable securities as of May 31, 2023 are as follows:

 

 

 

Amortized
Cost

 

 

Unrealized
Gains

 

 

Unrealized
Losses

 

 

Fair Value

 

Commercial Paper & Corporate Bonds

 

$

83,549

 

 

$

 

 

$

(1,220

)

 

$

82,329

 

Activity in Allowance for Credit Losses The activity in the allowance for credit losses was as follows:

 

 

Year Ended May 31,

 

 

 

2024

 

 

2023

 

 

2022

 

Beginning Balance

 

$

2,827

 

 

$

1,650

 

 

$

1,400

 

Provision

 

 

1,720

 

 

 

1,460

 

 

 

332

 

Recoveries

 

 

(191

)

 

 

46

 

 

 

98

 

Write-offs

 

 

(216

)

 

 

(329

)

 

 

(180

)

Ending Balance

 

$

4,140

 

 

$

2,827

 

 

$

1,650

 

Schedule of Components of Inventories

Inventories are stated at the lower of cost or net realizable value, determined on the first-in, first-out method. The components of inventories were as follows:

 

 

Year Ended May 31,

 

 

 

2024

 

 

2023

 

Raw Materials

 

$

78,799

 

 

$

66,617

 

Work-in-process

 

 

10,990

 

 

 

5,366

 

Finished goods

 

 

111,839

 

 

 

68,099

 

Inventory reserve

 

 

(12,361

)

 

 

(6,270

)

Inventory, net

 

$

189,267

 

 

$

133,812