Annual report [Section 13 and 15(d), not S-K Item 405]

Property and Equipment

v3.26.1
Property and Equipment
 12 Months Ended
May 31, 2026
Property, Plant, and Equipment [Abstract]  
Property and Equipment Property and Equipment
Property and equipment, net consisted of the following as of May 31, 2026 and 2025:
Estimated Useful Life May 31, 2026 May 31, 2025
Networking equipment, electrical equipment, and software
3 - 5 years
 $ 672  $ 672 
Leasehold improvements
3 - 5 years
 697  697 
Construction in progress 1,208  3,331 
Other equipment and fixtures
3 - 5 years
 37,907  8,900 
Total cost of property and equipment 40,484  13,600 
Accumulated depreciation (8,403) (2,678)
Property and equipment, net $ 32,081  $ 10,922 
Depreciation expense totaled $5,725 and $1,932 for the fiscal years ended May 31, 2026 and 2025, respectively, and was included as a component of cost of revenues and selling, general and administrative expense in the consolidated statements of operations.