v3.25.2
Discontinued Operations (Tables)
 12 Months Ended
May 31, 2025
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of Assets as Held for Sale The following table presents the major components of the financial results of the Cloud Services Business for the periods presented (in thousands):
Fiscal Year Ended
May 31, 2025May 31, 2024May 31, 2023
Revenue$84,376 $28,957 $— 
Cost of revenues115,308 41,687 — 
Selling, general and administrative24,813 52,756 1,091 
(Gain) on abandonment of assets
(414)— — 
Operating loss from discontinued operations
(55,331)(65,486)(1,091)
Interest expense17,399 9,809 27 
Net loss from discontinued operations before income tax expense
(72,730)(75,295)(1,118)
Income tax expense— — — 
Net loss from discontinued operations$(72,730)$(75,295)$(1,118)
The following table represents the aggregated carrying amounts of classes of assets and liabilities that are classified as held for sale on the consolidated balance sheets for the periods presented (in thousands):
Fiscal Year Ended
May 31, 2025May 31, 2024
Assets:
Cash and cash equivalents$2,398 $— 
Accounts receivable3,788 — 
Prepaid expenses and other current assets223 333 
Property and equipment, net10,922 11,278 
Operating lease right of use asset, net91,374 152,090 
Finance lease right of use asset, net195,495 209,933 
Other assets— 581 
Total current assets held for sale
304,200 374,215 
Liabilities:
Accounts payable3,962 11,589 
Accrued liabilities572 1,580 
Current portion of operating lease liability16,093 21,101 
Current portion of finance lease liability133,406 102,400 
Current deferred revenue3,594 31,178 
Long-term portion of operating lease liability58,420 108,668 
Long-term portion of finance lease liability— 59,907 
Total current liabilities held for sale
$216,047 $336,423 
The following table presents significant non-cash items and capital expenditures of discontinued operations for the periods presented (in thousands):
Fiscal Year Ended
May 31, 2025May 31, 2024May 31, 2023
Depreciation and amortization$80,656 $57,883 $154 
Stock-based compensation(1,463)10,135 — 
Purchases of property and equipment and other assets(190)(10,600)(260)
Finance lease prepayments1,190 (46,378)— 
Operating right-of-use assets obtained by lease obligation20,280 158,508 — 
Finance right-of-use assets obtained by lease obligation64,358 217,818 3,021 
Property and equipment in AP and accrued liabilities1,387 1,172 —