GOODWILL AND PURCHASED INTANGIBLE ASSETS

12 Months Ended

May 29, 2026

GOODWILL AND PURCHASED INTANGIBLE ASSETS

GOODWILL AND PURCHASED INTANGIBLE ASSETS

5. GOODWILL AND PURCHASED INTANGIBLE ASSETS

Goodwill

The Company's goodwill activity during the years ended May 29, 2026 and May 30, 2025 was as follows:

(In thousands)	Total
Balance as of May 31, 2024	$	-
Addition due to business combination		10,719
Balance as of May 30, 2025		10,719
Activity during the year		-
Balance as of May 29, 2026	$	10,719

Goodwill was tested for impairment in the fourth quarter at the reporting unit level. There were no impairments to goodwill during the years ended May 29, 2026 and May 30, 2025.

Purchased Intangible Assets

The Company’s purchased intangible assets, net, were as follows:

	May 29, 2026							May 30, 2025
(In thousands)			Accumulated							Accumulated
Finite-lived intangible assets:	Gross		Amortization			Net		Gross		Amortization			Net
Developed technology	$	9,130	$	(1,395	)	$	7,735	$	9,130	$	(634	)	$	8,496
Trade names		1,050		(192	)		858		1,050		(88	)		962
Customer relationship		810		(135	)		675		810		(61	)		749
Non-compete agreements and others		1,010		(726	)		284		1,010		(436	)		574
Total	$	12,000	$	(2,448	)	$	9,552	$	12,000	$	(1,219	)	$	10,781

Amortization expense related to purchased intangible assets with finite lives was $1.2 million and $1.2 million for the years ended May 29, 2026 and May 30, 2025.

As of May 29, 2026, the estimated future amortization expense of purchased intangible assets with finite lives is as follows:

(In thousands)	Amount

2027	$	1,183
2028		981
2029		939
2030		939
2031		939
Thereafter		4,571
Total	$	9,552

There were no impairment charges related to purchased intangible assets for the years ended May 29, 2026 and May 30, 2025.