v3.26.3
Leases
 3 Months Ended
Aug. 31, 2026
Leases [Abstract]  
Leases Leases
The Company enters into leases for equipment and data center and office space. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. The Company presents operating and finance right-of-use assets and liabilities separately on the balance sheet as their own captions, with the liabilities split between current and long-term, respectively.
Components of lease expense were as follows (in thousands):
Three Months Ended
August 31, 2026August 31, 2025
Operating lease cost:
Operating lease expense(1)
$6,157$6,078
Short-term lease expense——
Total operating lease cost6,1576,078
Finance lease expense:
Amortization of right-of-use assets(1)
12,63314,375
Interest on lease liabilities1,3273,233
Total finance lease cost13,96017,608
Total net lease cost$20,117$23,686
(1)Amortization of right-of-use assets is included within cost of revenues and selling, general and administrative expense in the Company's condensed consolidated statements of operations.
The following table represents the Company’s future minimum lease payments as of August 31, 2026 (in thousands):
Operating LeasesFinance LeasesTotal
FY 2027$16,666 $37,363$54,029 
FY 202822,737 10,96733,704 
FY 202917,152 —17,152 
FY 20303,536 —3,536 
FY 2031— —— 
Thereafter— — — 
Total lease payments60,091 48,330108,421 
Less: imputed interest(5,659)(2,395)(8,054)
Total lease liabilities54,432 45,935100,367 
Less: Current portion of lease liability(18,998)(43,478)(62,476)
Long-term portion of lease liability$35,434 $2,457$37,891 
Supplemental information related to leases is as follows:
Three Months Ended
August 31, 2026August 31, 2025
Weighted-average years remaining (in years):
Finance leases2.01.1
Operating leases2.33.8
Weighted-average discount rate:
Finance leases9.9 %9.9 %
Operating leases7.7 %7.6 %
Leases Leases
The Company enters into leases for equipment and data center and office space. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. The Company presents operating and finance right-of-use assets and liabilities separately on the balance sheet as their own captions, with the liabilities split between current and long-term, respectively.
Components of lease expense were as follows (in thousands):
Three Months Ended
August 31, 2026August 31, 2025
Operating lease cost:
Operating lease expense(1)
$6,157$6,078
Short-term lease expense——
Total operating lease cost6,1576,078
Finance lease expense:
Amortization of right-of-use assets(1)
12,63314,375
Interest on lease liabilities1,3273,233
Total finance lease cost13,96017,608
Total net lease cost$20,117$23,686
(1)Amortization of right-of-use assets is included within cost of revenues and selling, general and administrative expense in the Company's condensed consolidated statements of operations.
The following table represents the Company’s future minimum lease payments as of August 31, 2026 (in thousands):
Operating LeasesFinance LeasesTotal
FY 2027$16,666 $37,363$54,029 
FY 202822,737 10,96733,704 
FY 202917,152 —17,152 
FY 20303,536 —3,536 
FY 2031— —— 
Thereafter— — — 
Total lease payments60,091 48,330108,421 
Less: imputed interest(5,659)(2,395)(8,054)
Total lease liabilities54,432 45,935100,367 
Less: Current portion of lease liability(18,998)(43,478)(62,476)
Long-term portion of lease liability$35,434 $2,457$37,891 
Supplemental information related to leases is as follows:
Three Months Ended
August 31, 2026August 31, 2025
Weighted-average years remaining (in years):
Finance leases2.01.1
Operating leases2.33.8
Weighted-average discount rate:
Finance leases9.9 %9.9 %
Operating leases7.7 %7.6 %