v3.26.1
Business Combinations (Tables)
 12 Months Ended
May 31, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Summary of Purchase Consideration
The aggregate purchase consideration in the Business Combination was $57,623, which was comprised of the following:
Purchase Consideration
Common and preferred shares issued (4,277 shares)
$56,543 
Assumed restricted stock units (82 RSUs)
1,080 
Total purchase consideration$57,623 
Preliminary Fair Values of Assets Acquired and Liabilities Assumed
The preliminary fair values of assets acquired and liabilities assumed on the Business Combination acquisition date are summarized as follows:
Purchase consideration to be allocated$57,623 
Cash$13,492 
Goodwill54,513 
Current assets held for sale20,192 
Total assets acquired$88,197 
Current portion of debt(3,346)
Accrued liabilities(3,397)
Long-term debt(464)
Warrant liabilities(3,242)
Current liabilities held for sale(5,125)
Total liabilities assumed$(15,574)
Total net assets acquired attributable to ChronoScale Corporation$72,623 
Less: Cash acquired through APLD Parent PIPE Investment (as defined below)$(15,000)
Total net assets acquired attributable to ChronoScale Corporation, net of APLD Parent PIPE Investment$57,623 
Schedule of Assets and Liabilities Held for Sale Assets and liabilities held for sale were recorded at their estimated fair values less costs to sell, as presented in the following table:
Acquisition Date
ASSETS
Current assets:
Accounts receivable, net$4,125 
Inventories4,562 
Prepaid expenses and other current assets1,150 
Property and equipment, net1,086 
Intangible assets, net10,950 
Operating lease right-of-use assets, net315 
Other assets369 
Estimated costs to sell(2,365)
Total current assets held for sale$20,192 
LIABILITIES
Current liabilities:
Accounts payable $281 
Accrued liabilities1,658 
Operating lease liabilities, current321 
Deferred revenues, current1,401 
Deferred revenues, non-current1,288 
Operating lease liabilities, non-current114 
Other non-current liabilities62 
Total current liabilities held for sale $5,125 
The following table presents the major components of the financial results of the Legacy Ekso Business for the periods presented.
Fiscal Year Ended
May 31, 2026
Revenue$385 
Costs and expenses:
Cost of revenues302 
Selling, general and administrative1,103 
Total costs and expenses1,405 
Operating loss from discontinued operations
(1,020)
Other expense, net— 
Net loss from discontinued operations before income tax expense(1,020)
Income tax expense— 
Net loss from discontinued operations$(1,020)
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)May 31, 2026
ASSETS
Current assets:
Cash$2 
Accounts receivable 3,914 
Prepaid expenses and other current assets5,604 
Property and equipment, net1,084 
Intangible assets, net10,950 
Operating lease right of use asset, net284 
Other assets368 
Estimated costs to sell(2,365)
Total current assets held for sale$19,841 
LIABILITIES
Current liabilities:
Accounts payable 263 
Accrued liabilities1,807 
Current portion of operating lease liability290 
Deferred revenue2,563 
Long-term portion of operating lease liability105 
Total current liabilities held for sale
$5,028 

The following table summarizes the net cash flows from discontinued operations of the Legacy Ekso Business for the years ended May 31, 2026, and May 31, 2025:
Fiscal Year Ended
May 31, 2026
Net cash used in operating activities - discontinued operations$(1,705)
Net cash used in investing activities - discontinued operations$— 
Summary of Amounts Allocated to Intangible Assets The following table presents the amounts allocated to the intangible assets identified as of the date of acquisition and their estimated useful lives:
Fair ValueUseful Lives (in years)
Trade names$4,650 7
Developed technology6,300 7
Total intangible assets acquired$10,950 
Summary of Pro Forma Information
The following unaudited pro forma combined financial information presents the combined results of Cloud and Ekso Bionics Holdings, Inc. as if the Business Combination had occurred on June 1, 2024, the beginning of the comparable prior annual reporting period:
Year Ended May 31, 2026Year Ended May 31, 2025
Pro forma revenue$83,169 $99,027 
Pro forma net loss$(66,233)$(87,107)