Leases (Tables)
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3 Months Ended |
Aug. 31, 2026 |
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| Leases [Abstract] |
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| Schedule of Components of Lease Expense and Supplemental Information |
Components of lease expense were as follows (in thousands):
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Three Months Ended |
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August 31, 2026 |
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August 31, 2025 |
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| Operating lease cost: |
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Operating lease expense(1)
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$ |
6,157 |
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$ |
6,078 |
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| Short-term lease expense |
— |
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— |
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| Total operating lease cost |
6,157 |
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6,078 |
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| Finance lease expense: |
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Amortization of right-of-use assets(1)
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12,633 |
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14,375 |
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| Interest on lease liabilities |
1,327 |
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3,233 |
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| Total finance lease cost |
13,960 |
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17,608 |
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| Total net lease cost |
$ |
20,117 |
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$ |
23,686 |
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(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.
Supplemental information related to leases is as follows:
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Three Months Ended |
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August 31, 2026 |
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August 31, 2025 |
| Weighted-average years remaining (in years): |
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| Finance leases |
2.0 |
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1.1 |
| Operating leases |
2.3 |
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3.8 |
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| Weighted-average discount rate: |
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| Finance leases |
9.9 |
% |
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9.9 |
% |
| Operating leases |
7.7 |
% |
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7.6 |
% |
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| Schedule of Future Minimum Operating Lease Payments |
The following table represents the Company’s future minimum lease payments as of August 31, 2026 (in thousands):
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Operating Leases |
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Finance Leases |
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Total |
| FY 2027 |
$ |
16,666 |
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$ |
37,363 |
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$ |
54,029 |
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| FY 2028 |
22,737 |
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10,967 |
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33,704 |
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| FY 2029 |
17,152 |
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— |
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17,152 |
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| FY 2030 |
3,536 |
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— |
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3,536 |
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| FY 2031 |
— |
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— |
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— |
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| Thereafter |
— |
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— |
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— |
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| Total lease payments |
60,091 |
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48,330 |
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108,421 |
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| Less: imputed interest |
(5,659) |
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(2,395) |
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(8,054) |
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| Total lease liabilities |
54,432 |
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45,935 |
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100,367 |
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| Less: Current portion of lease liability |
(18,998) |
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(43,478) |
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(62,476) |
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| Long-term portion of lease liability |
$ |
35,434 |
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$ |
2,457 |
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$ |
37,891 |
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| Schedule of Future Minimum Finance Lease Payments |
The following table represents the Company’s future minimum lease payments as of August 31, 2026 (in thousands):
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Operating Leases |
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Finance Leases |
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Total |
| FY 2027 |
$ |
16,666 |
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$ |
37,363 |
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$ |
54,029 |
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| FY 2028 |
22,737 |
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10,967 |
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33,704 |
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| FY 2029 |
17,152 |
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— |
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17,152 |
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| FY 2030 |
3,536 |
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— |
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3,536 |
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| FY 2031 |
— |
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— |
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— |
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| Thereafter |
— |
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— |
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— |
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| Total lease payments |
60,091 |
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48,330 |
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108,421 |
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| Less: imputed interest |
(5,659) |
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(2,395) |
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(8,054) |
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| Total lease liabilities |
54,432 |
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45,935 |
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100,367 |
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| Less: Current portion of lease liability |
(18,998) |
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(43,478) |
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(62,476) |
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| Long-term portion of lease liability |
$ |
35,434 |
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$ |
2,457 |
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$ |
37,891 |
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