Three months ended August 31,

(in thousands, except per share amounts)

2026

2025

Numerator:

Net loss

$

(19,936

)

$

(5,540

)

Less: Accrued preferred stock dividends

(374

)

(373

)

Basic net loss applicable to common stockholders

(20,310

)

(5,913

)

Diluted net loss applicable to common stockholders

$

(20,310

)

$

(5,913

)

Denominator:

Basic weighted average common shares outstanding

1,382,223

1,252,551

Effect of dilutive securities:

Warrant exercises

—

—

Preferred stock conversions

—

—

Diluted weighted average common shares outstanding

1,382,223

1,252,551

Basic loss per share

$

(0.01

)

$

(0.00

)

Diluted loss per share

$

(0.01

)

$

(0.00

)