Related Party Transactions |
3 Months Ended |
|---|---|
Aug. 31, 2026 | |
| Related Party Transactions [Abstract] | |
| Related Party Transactions | Related Party Transactions Base Electron In the prior year, the Company and Base Electron Corporation (“Base Electron”) entered into the Intercompany Administrative Services Agreement (the "Intercompany Agreement"). The amount of services provided during the three months ended August 31, 2026 were approximately $0.1 million. In the prior fiscal year, Base Electron issued to the Company approximately 10% of Base Electron’s outstanding equity. The investment in Base Electron is accounted for at cost under ASC 321 as it is an equity security without a readily determinable fair value and will be evaluated quarterly for impairment indicators. There were no impairment indicators during the three months ended August 31, 2026. As of August 31, 2026, the Company determined the fair value of the investment was $2.0 million, which is recorded as an Other asset on the unaudited condensed consolidated balance sheets. Base Electron Demand Grid Promissory Note In the prior fiscal year, Base Electron entered into a promissory note with the Company (“Demand Grid Promissory Note”) for up to $100.0 million which is payable on-demand. As of August 31, 2026, the principal balance of the Demand Grid Promissory Note was $58.5 million, which was recorded as a related party loan receivable and presented within Prepaid expense and other current assets on the unaudited condensed consolidated balance sheets. During the three months ended August 31, 2026, approximately $0.7 million of interest income was recognized. Further, no allowance for credit loss and no credit loss expense have been recognized for the three months ended August 31, 2026, and receivables are presented at their gross amount, which approximates the net amount expected to be collected. Other Related Party Transactions Related party transactions included within selling, general and administrative expense on the unaudited condensed consolidated statement of operations include software license fees of $49.7 thousand and $74.3 thousand during the three months ended August 31, 2026 and 2025, respectively, which were incurred with a company whose chairman is also a member of the Company’s Board of Directors.
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