v3.26.3
Segment and Geographic Information
 3 Months Ended
Aug. 31, 2026
Segment Reporting [Abstract]  
Segment and Geographic Information SEGMENT AND GEOGRAPHIC INFORMATION
Segment information
The Company regularly reviews its segments and the approach used by the chief operating decision maker, the President and Chief Executive Officer ("CEO"), to evaluate performance and allocate resources. The Company manages its operations through two operating segments, Med Tech and Med Device. The CEO evaluates these two operating segments based on gross margin to, among other items, allocate resources and assess performance. The CEO uses gross margin in the budgeting and forecasting process to assess profitability and enable decision making regarding strategic initiatives, investments and personnel across the two operating segments. Executives reporting to the CEO include those responsible for commercial operations, manufacturing operations, regulatory and quality and certain corporate functions.
The Med Tech segment is comprised of our technology portfolio including Auryon, the thrombus management platform and NanoKnife. The Med Device segment is comprised of our Core, Venous, Ports and other Oncology products.
The Company manages its assets on a total company basis, not by operating segment; therefore, the CEO does not review any asset information by operating segment and, accordingly, asset information is not reported or evaluated by operating segment.
The table below summarizes net sales, cost of sales and gross margin by Med Tech and Med Device:
Three Months Ended
(in thousands)Aug 31, 2026Aug 31, 2025
Med Tech Net Sales$39,916 $35,261 
Med Tech Cost of Sales (exclusive of intangible amortization)13,492 13,339 
Gross Margin26,424 21,922 
Gross Margin %66.2 %62.2 %
Med Device Net Sales$40,999 $40,450 
Med Device Cost of Sales (exclusive of intangible amortization)19,383 20,515 
Gross Margin21,616 19,935 
Gross Margin %52.7 %49.3 %
Total Net Sales$80,915 $75,711 
Total Cost of Sales (exclusive of intangible amortization)32,875 33,854 
Gross Margin48,040 41,857 
Gross Margin %59.4 %55.3 %
Operating Expenses(1)
$55,342 $52,513 
Other income (expense), net(2)
6 (182)
Loss before income tax benefit(7,296)(10,838)
(1) Operating expenses include Research and development, Sales and marketing, General and administrative, Amortization of intangibles and Acquisition, restructuring and other items, net.
(2) Other income (expense), net includes interest income, interest expense, foreign currency impacts and bank fees.
Geographic information
The table below summarizes net sales by geographic area based on external customer location:
Three Months Ended
(in thousands)Aug 31, 2026Aug 31, 2025
Net Sales
United States$71,068 $66,456 
International9,847 9,255 
Total$80,915 $75,711 
For the three months ended August 31, 2026 and 2025, international sales as a percentage of total net sales were 12.2% and 12.2%, respectively. Sales to any one country outside the U.S., as determined by shipment destination, did not comprise a material portion of net sales in any of the last three fiscal years. In addition, no one customer represents more than 10% of consolidated net sales. 60% of long-lived assets are located within the United States and 40% are located within Israel.