v3.25.2
Property, Plant and Equipment, Net
12 Months Ended
May 31, 2025
Property, Plant and Equipment [Abstract]  
PROPERTY, PLANT AND EQUIPMENT, NET PROPERTY, PLANT AND EQUIPMENT, NET
Property, plant and equipment are summarized as follows:
(in thousands)May 31, 2025May 31, 2024
Building and building improvements$16,604 $30,099 
Computer software and equipment29,038 28,407 
Machinery and equipment16,596 15,756 
Placement and evaluation units36,991 31,312 
Construction in progress3,794 2,638 
103,023 108,212 
Less accumulated depreciation(71,116)(69,675)
Less building impairment— (3,364)
31,907 35,173 
Land and land improvements393 493 
$32,300 $35,666 
Depreciation expense for fiscal years 2025, 2024 and 2023 was $13.5 million, $14.7 million and $11.9 million, respectively. Depreciation expense for the year ended May 31, 2025 and 2024 includes accelerated depreciation of $3.4 million and $2.4 million, respectively, related to the plant closure announced on January 5, 2024 (see Note 19 "Acquisition, restructuring and other items, net" as set forth in the Notes to the consolidated financial statements in this Annual Report on Form 10-K). During the third quarter of fiscal year 2024, the Company received a purchase offer for the properties located at 603 Queensbury Avenue, Queensbury NY and 8 Glens Falls Tech Park, Glens Falls, NY. This resulted in an impairment charge of $3.4 million to write the buildings down to fair value.