Temporary Equity (Tables)

3 Months Ended

Aug. 31, 2026

Temporary Equity Disclosure [Abstract]

Schedule of the Activity and Balances for Preferred Stock

The following is a summary of the activity and balances for preferred stock during the three months ended August 31, 2025 (in thousands, other than share data):


	Series E Redeemable Preferred Stock			Series E-1 Redeemable Preferred Stock				Series G Convertible Preferred Stock
	Shares	Amount			Shares	Amount			Shares	Amount
Outstanding as of June 1, 2025	301,673	$	6,932		62,485	$	57,011		78,000	$	72,094
Issuances, net of costs	—	—			—	10			180,000	170,386
Conversions	—	—			—	—			(258,000)	(242,480)
Redemptions	—	—			(225)	(225)			—	—
Outstanding as of August 31, 2025	301,673	$	6,932		62,260	$	56,796		—	$	—

The following is a summary of the activity and balances for preferred stock during the three months ended August 31, 2026 (in thousands, other than share data):


	Series E Redeemable Preferred Stock			Series E-1 Redeemable Preferred Stock			Series G Convertible Preferred Stock
	Shares	Amount		Shares	Amount		Shares	Amount
Outstanding as of June 1, 2026	276,673	$	6,306	61,909	$	56,460	—	$	—
Issuances, net of costs	—	—		—	—		283,250	274,850
Conversions	—	—		—	—		(154,500)	(149,921)
Redemptions	(276,673)	(6,306)		(78)	(87)		—	—
Outstanding as of August 31, 2026	—	$	—	61,831	$	56,373	128,750	$	124,929

- Definition

Tabular disclosure of temporary equity. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. If convertible, the issuer does not control the actions or events necessary to issue the maximum number of shares that could be required to be delivered under the conversion option if the holder exercises the option to convert the stock to another class of equity. If the security is a warrant or a rights issue, the warrant or rights issue is considered to be temporary equity if the issuer cannot demonstrate that it would be able to deliver upon the exercise of the option by the holder in all cases. Includes stock with put option held by ESOP and stock redeemable by holder only in the event of a change in control of the issuer.

+ References + Details