Quarterly report [Sections 13 or 15(d)]

Property and Equipment

v3.26.3
Property and Equipment
 3 Months Ended
Aug. 31, 2026
Property, Plant, and Equipment [Abstract]  
Property and Equipment Property and Equipment
Property and equipment, net consisted of the following as of August 31, 2026 and May 31, 2026 (in thousands):
Estimated Useful Life August 31, 2026 May 31, 2026
Networking equipment, electrical equipment, and software
3 - 5 years
 $ 672  $ 672 
Leasehold improvements
3 - 6 years
 697  697 
Construction in progress 4,140  1,208 
Other equipment and fixtures
3 - 7 years
 38,090  37,907 
Total cost of property and equipment 43,599  40,484 
Accumulated depreciation (11,108) (8,403)
Property and equipment, net $ 32,491  $ 32,081 
Depreciation expense totaled $2.7 million and $0.6 million for the three months ended August 31, 2026 and 2025, respectively, and was included as a component of cost of revenues and selling, general and administrative expense in the condensed consolidated statements of operations.