Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Balance Sheets (Unaudited)

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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Aug. 31, 2026
May 31, 2026
Current assets:    
Cash $ 15,221 $ 9,664
Accounts receivable 7,557 12,542
Prepaid expenses and other current assets 2,924 2,200
Current assets held for sale 4,988 19,841
Total current assets 30,690 44,247
Property and equipment, net 32,491 32,081
Operating lease right of use assets, net 67,297 72,004
Finance lease right of use assets, net 109,876 122,509
Goodwill 54,387 54,513
Other assets 664 520
TOTAL ASSETS 295,405 325,874
Current liabilities:    
Accounts payable 15,780 9,052
Accrued liabilities 7,334 3,740
Current portion of operating lease liability 18,998 18,130
Current portion of finance lease liability 43,478 47,571
Current portion of debt 10,539 3,370
Current deferred revenue 57 0
Current liabilities held for sale 4,988 5,028
Total current liabilities 101,174 86,891
Long-term portion of operating lease liability 35,434 40,289
Long-term portion of finance lease liability 2,457 10,729
Long-term debt 151 474
Long-term portion of deferred revenue 107 0
Warrant liabilities 5,432 5,454
Total liabilities 144,755 143,837
Commitments and contingencies (Note 16)
Temporary equity:    
Convertible preferred stock, $0.001 par value; 10,000,000 shares authorized; 0 issued and outstanding as of August 31, 2026; 2,926 issued and outstanding as of May 31, 2026, with a $2,926 redemption value [1] 0 2,012
Stockholders' equity:    
Common stock, $0.001 par value; 290,000,000 shares authorized; 145,637,452 and 145,212,325 shares issued and outstanding as of August 31, 2026 and May 31, 2026, respectively 145 145
Additional paid in capital 392,451 379,342
Accumulated deficit (241,946) (199,462)
Total stockholders’ equity 150,650 180,025
TOTAL LIABILITIES, TEMPORARY EQUITY AND STOCKHOLDERS' EQUITY $ 295,405 $ 325,874
[1] Refer to Note 13. Temporary Equity for additional information regarding the January 2026 Series B Preferred Stock (as defined below).