v3.26.1
Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($)
$ in Thousands
May 31, 2026
May 31, 2025
Deferred tax assets    
Net operating loss $ 159,266 $ 59,963
Stock-based compensation 3,831 2,006
Capitalized research and development 4,728 13,088
Interest expense 19,008 12,759
Lease liability 15,762 17,587
Investment in partnership 23,517 0
Other 202 824
Deferred tax assets, gross 226,314 106,227
Less: valuation allowance (176,210) (65,856)
Total deferred tax assets, net 50,104 40,371
Deferred tax liabilities    
Investments (23,212) 0
Property and equipment (8,436) (18,887)
Right of use assets (18,456) (21,484)
Other 0 0
Total deferred tax liability, net (50,104) (40,371)
Net deferred tax asset $ 0 $ 0