v3.26.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Aug. 31, 2026
Aug. 31, 2025
CASH FLOW FROM OPERATING ACTIVITIES    
Net loss $ (184,055) $ (16,926)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization 41,912 4,152
Stock-based compensation 66,499 15,465
Lease expense 6,517 5,381
Loss on change in fair value of derivatives 49,511 0
Loss on change in fair value of investment 11,352 0
Amortization of debt issuance costs 5,896 4,851
Loss on classification of held for sale 14,126 0
Loss on abandonment of assets 0 2,243
Gain on change in fair value of warrants (22) 0
Changes in operating assets and liabilities:    
Accounts receivable (56,977) (29,525)
Prepaid expenses and other current assets (47,786) (6,962)
Customer deposits 107 627
Deferred revenue 34,480 (2,316)
Accounts payable (7,981) (77,784)
Accrued liabilities 106,701 28,684
Due to customer 1,383 (1,753)
Lease assets and liabilities 5,856 (9,598)
Other current liabilities 1,886 0
Other assets 14,516 1,930
CASH FLOW PROVIDED BY (USED IN) OPERATING ACTIVITIES 63,921 (81,531)
CASH FLOW FROM INVESTING ACTIVITIES    
Purchases of property and equipment and other assets (2,074,698) (249,914)
Investment in companies (8,181) 0
CASH FLOW USED IN INVESTING ACTIVITIES (2,082,879) (249,914)
CASH FLOW FROM FINANCING ACTIVITIES    
Repayment of finance leases (14,252) (29,932)
Borrowings of long-term debt 1,648,500 65
Draw on revolver 82,390 0
Repayments of long-term debt (315,932) (2,416)
Payment of deferred financing costs (28,879) (1)
Tax payments for restricted stock upon vesting (99,413) (4,497)
Noncontrolling interest issuance contributions 1,349 0
Proceeds from issuance of common stock 0 196,366
Common stock issuance costs 0 (5,945)
Proceeds from issuance of preferred stock 274,999 175,000
Preferred stock issuance costs (149) (4,604)
Redemption of preferred stock (6,996) (225)
Dividends issued on preferred stock (1,543) (1,576)
Exercise of warrants 0 1
Issuance of equity by subsidiary, net of costs 3,398 0
CASH FLOW PROVIDED BY FINANCING ACTIVITIES 1,543,472 322,236
NET DECREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH (475,486) (9,209)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, BEGINNING OF PERIOD, INCLUDING CASH FROM DISCONTINUED OPERATIONS 4,153,431 123,318
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, END OF PERIOD, INCLUDING CASH FROM DISCONTINUED OPERATIONS 3,677,945 114,109
Less: CASH, CASH EQUIVALENTS, AND RESTRICTED CASH FROM DISCONTINUED OPERATIONS 2 0
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH FROM CONTINUED OPERATIONS 3,677,943 114,109
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Interest paid 242,852 9,039
SUPPLEMENTAL DISCLOSURE OF NON-CASH ACTIVITIES    
Operating right-of-use assets obtained by lease obligation 5,497 0
Finance right-of-use assets obtained by lease obligation 0 3,966
Property and equipment in accounts payable and accrued liabilities 142,284 132,113
Conversion of preferred stock to common stock 149,921 242,480
Issuance of warrants, at fair value 0 121,204
Non-cash dividends paid in-kind $ 60,051 $ 0