v3.25.2
Fair Value of Financial Instruments (Tables)
12 Months Ended
May 31, 2025
Fair Value Disclosures [Abstract]  
Schedule of Fair Value of Assets and Liabilities Measured on Recurring Basis The following table provides information by level for assets and liabilities that are measured at fair value on a recurring basis at May 31, 2024:
Fair Value Measurements using inputs considered as:
(in thousands)Level 1Level 2Level 3Fair Value at May 31, 2024
Financial Liabilities
Contingent consideration for acquisition earn outs$— $— $4,728 $4,728 
Total Financial Liabilities$— $— $4,728 $4,728 
Schedule of Changes in Fair Value Components of Level 3 Instruments
The following tables present the changes in fair value components of Level 3 instruments:
Financial Liabilities
(in thousands)Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
Balance at May 31, 2024$4,728 
Change in present value of contingent consideration (1)
272 
Contingent consideration payments(5,000)
Balance at May 31, 2025$— 
(1) Change in the fair value of contingent consideration is included in earnings and comprised of changes in estimated earn out payments based on projections of Company performance and amortization of the present value discount.
Financial Liabilities
(in thousands)Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
Balance at May 31, 2023$19,296 
Change in fair value of contingent consideration (1)
432 
Contingent consideration payments(15,000)
Balance at May 31, 2024$4,728 
(1) Change in the fair value of contingent consideration is included in earnings and comprised of changes in estimated earn out payments based on projections of Company performance and amortization of the present value discount.