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Leases (Tables)
 12 Months Ended
May 31, 2024
Leases [Abstract]  
Supplemental balance sheet information related to operating and finance leases

Supplemental balance sheet information related to operating and finance leases was as follows:

 

 

Year Ended May 31,

 

 

 

2024

 

 

2023

 

Rights of use - non-current assets

 

$

14,785

 

 

$

11,933

 

Lease liabilities - other current liabilities

 

$

5,101

 

 

$

3,277

 

Lease liabilities - non-current liabilities

 

$

10,300

 

 

$

8,812

 

Property and equipment

 

$

2,423

 

 

 

—

 

Current portion of finance lease

 

$

2,447

 

 

 

—

 

 
Weighted average remaining lease term and weighted average discount rate

The weighted average remaining lease term and weighted average discount rate were as follows:

 

 

Year Ended May 31,

 

 

2024

 

 

2023

 

Operating Leases

 

 

 

 

 

 

Weighted average remaining lease term

 

3.9 years

 

 

4.7 years

 

Weighted average discount rate

 

 

5.6

%

 

 

4.7

%

 

 

 

 

 

 

 

Financing Lease

 

 

 

 

 

 

Weighted average remaining lease term

 

0.3 years

 

 

 

—

 

Weighted average discount rate

 

 

6.1

%

 

 

—

 
Components of lease expense and Supplemental cash flow information The components of lease expense were as follows:

 

 

Year ended May 31,

 

 

 

2024

 

 

2023

 

Operating leases

 

$

4,510

 

 

$

2,097

 

Short term leases

 

 

625

 

 

 

460

 

Financing lease expense:

 

 

 

 

 

 

Amortization of asset

 

 

219

 

 

 

—

 

Interest on lease liability

 

 

12

 

 

 

—

 

Total lease expense

 

$

5,366

 

 

$

2,557

 

 

Supplemental cash flow information is as follows:

 

Year Ended May 31,

 

 

 

2024

 

 

2023

 

 

2022

 

Cash paid for amounts included in the measurement of lease liabilities:

 

 

 

 

 

 

 

 

 

     Operating cash flows for operating leases

 

$

4,714

 

 

$

2,139

 

 

$

1,407

 

     Operating cash flows for finance leases

 

$

12

 

 

 

—

 

 

 

—

 

     Financing cash flows for finance leases

 

$

192

 

 

 

—

 

 

 

—

 

Non-cash assets obtained in exchange for lease obligations:

 

 

 

 

 

 

 

 

 

     Operating leases

 

$

5,562

 

 

$

11,192

 

 

 

—

 

     Finance leases

 

$

2,642

 

 

 

—

 

 

 

—

 
Future lease payments

Future lease payments as of May 31, 2024 are as follows:

 

 

 

Operating

 

 

Finance

 

Years ending May 31,

 

Leases

 

 

Lease

 

2025

 

$

5,263

 

 

$

2,454

 

2026

 

 

4,788

 

 

 

—

 

2027

 

 

3,450

 

 

 

—

 

2028

 

 

2,282

 

 

 

—

 

2029

 

 

1,233

 

 

 

—

 

2030 and thereafter

 

 

1,006

 

 

 

—

 

Total lease payments

 

$

18,022

 

 

$

2,454

 

Less: imputed interest

 

 

(2,621

)

 

 

(7

)

Total lease liabilities

 

$

15,401

 

 

$

2,447