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REVENUE FROM CONTRACTS WITH CUSTOMERS
 6 Months Ended
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,
Customer20222021
Customer A32.6 %— %
Customer B26.5 %— %
Customer C16.2 %— %
Customer D13.0 %— %
Customer E11.8 %— %
Six Months Ended November 30,
Customer20222021
Customer A33.7 %— %
Customer B21.5 %— %
Customer C17.9 %— %
Customer D14.2 %— %
Customer E12.7 %— %

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, 2022Three Months Ended November 30, 2021
Balance at August 31, 2022$19,193 Balance at May 31, 2021$— 
Advance billings22,406 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, 2022Six Months Ended November 30, 2021
Balance at May 31, 20223,877 Balance at May 31, 2021$— 
Advance billings44,646 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, 2022Three Months Ended November 30, 2021
Balance at August 31, 2022$14,111 Balance at August 31, 2021$— 
Customer deposits received10,713 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, 2022Six Months Ended November 30, 2021
Balance at May 31, 2022$9,524 Balance at May 31, 2021$— 
Customer deposits received15,300 Customer deposits received— 
Customer deposits refunded— Customer deposits refunded— 
Other adjustments$(135)Other adjustments$— 
Balance at November 30, 2022$24,689 Balance at November 30, 2021$—