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REVENUE FROM CONTRACTS WITH CUSTOMERS | 6 Months Ended
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Nov. 30, 2022
Revenue from Contract with Customer [Abstract] |
REVENUE FROM CONTRACTS WITH CUSTOMERS | REVENUE FROM CONTRACTS WITH CUSTOMERS The Company recognizes revenue when promised services are transferred to customers in an amount that reflects the consideration to which the Company expects to be received in exchange for those services. The Company notes all revenue recognized from continuing operations during the quarter was received through hosting revenue. Below is a summary of the Company’s revenue concentration by major customer for the three and six months ended November 30, 2022 and 2021, respectively.
| Three Months Ended November 30,
Customer | 2022 |  | 2021
Customer A | 32.6 | % |  | — | %
Customer B | 26.5 | % |  | — | %
Customer C | 16.2 | % |  | — | %
Customer D | 13.0 | % |  | — | %
Customer E | 11.8 | % |  | — | %
| Six Months Ended November 30,
Customer | 2022 |  | 2021
Customer A | 33.7 | % |  | — | %
Customer B | 21.5 | % |  | — | %
Customer C | 17.9 | % |  | — | %
Customer D | 14.2 | % |  | — | %
Customer E | 12.7 | % |  | — | %
Remaining Performance Obligations As of November 30, 2022, the Company had $29.4 million in deferred revenue, which represents the Company’s remaining performance obligations. The Company expects to recognize $29.4 million within the next 12 months. Deferred Revenue Changes in the Company's deferred revenue balances from hosting operations for the three and six months ended November 30, 2022 and 2021, respectively, are shown in the following table:
(in thousands) |  | (in thousands)
Three Months Ended November 30, 2022 |  | Three Months Ended November 30, 2021
Balance at August 31, 2022 | $ | 19,193 |  |  | Balance at May 31, 2021 | $ | — |
Advance billings | 22,406 |  |  | Advance billings | — |
Revenue recognized | (12,340) |  |  | Revenue recognized | — |
Other adjustments | $ | 135 |  |  | Other adjustments | $ | — |
Balance at November 30, 2022 | $ | 29,394 |  |  | Balance at November 30, 2021 | $ | — |
(in thousands) |  | (in thousands)
Six Months Ended November 30, 2022 |  | Six Months Ended November 30, 2021
Balance at May 31, 2022 | 3,877 |  |  | Balance at May 31, 2021 | $ | — |
Advance billings | 44,646 |  |  | Advance billings | — |
Revenue recognized | (19,264) |  |  | Revenue recognized | — |
Other adjustments | $ | 135 |  |  | Other adjustments | $ | — |
Balance at November 30, 2022 | $ | 29,394 |  |  | Balance at November 30, 2021 | $ | — |
Customer Deposits Changes in the Company's customer deposits balances for the three and six months ended November 30, 2022 and 2021, respectively, are shown in the following table:
(in thousands) |  | (in thousands)
Three Months Ended November 30, 2022 |  | Three Months Ended November 30, 2021
Balance at August 31, 2022 | $ | 14,111 |  |  | Balance at August 31, 2021 | $ | — |
Customer deposits received | 10,713 |  |  | Customer deposits received | — |
Customer deposits refunded | — |  |  | Customer deposits refunded | — |
Other adjustments | $ | (135) |  |  | Other adjustments | $ | — |
Balance at November 30, 2022 | $ | 24,689 |  |  | Balance at November 30, 2021 | $ | — |
(in thousands) |  | (in thousands)
Six Months Ended November 30, 2022 |  | Six Months Ended November 30, 2021
Balance at May 31, 2022 | $ | 9,524 |  |  | Balance at May 31, 2021 | $ | — |
Customer deposits received | 15,300 |  |  | Customer deposits received | — |
Customer deposits refunded | — |  |  | Customer deposits refunded | — |
Other adjustments | $ | (135) |  |  | Other adjustments | $ | — |
Balance at November 30, 2022 | $ | 24,689 |  |  | Balance at November 30, 2021 | $ | — |

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI https://asc.fasb.org/topic&trid=49130388 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130551-203045 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b)(2) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130556-203045 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 9 -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130550-203045 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130558-203045 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 + Details
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