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REVENUE FROM CONTRACTS WITH CUSTOMERS
 9 Months Ended
Feb. 28, 2023
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 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 nine months ended February 28, 2023 and 2022, respectively.
Three Months Ended February 28,
Customer20232022
Customer A26 %62 %
Customer B25 %— %
Customer C16 %16 %
Customer D13 %9 %
Customer E13 %13 %
Others7 %— %

Nine Months Ended February 28,
Customer20232022
Customer A31 %62 %
Customer B23 %— %
Customer C17 %16 %
Customer D14 %9 %
Customer E13 %13 %
Others3 %— %

Remaining Performance Obligations
As of February 28, 2023, the Company had $47.6 million in deferred revenue, which represents the Company’s remaining performance obligations. The Company expects to recognize the entire $47.6 million within the next 12 months.

Deferred Revenue
Changes in the Company's deferred revenue balances from hosting operations for the three and nine months ended February 28, 2023 and 2022, respectively, are shown in the following table:


(in thousands)(in thousands)
Three Months Ended February 28, 2023Three Months Ended February 28, 2022
Balance at November 30, 2022$29,394 Balance at November 30, 2021$— 
Advance billings$32,315 Advance billings$3,909 
Revenue recognized$(14,090)Revenue recognized$(1,026)
Other adjustments$— Other adjustments$— 
Balance at February 28, 2023$47,619 Balance at February 28, 2022$2,883 

(in thousands)(in thousands)
Nine Months Ended February 28, 2023Nine Months Ended February 28, 2022
Balance at May 31, 2022$3,877 Balance at May 31, 2021$— 
Advance billings$76,961 Advance billings$3,909 
Revenue recognized$(33,354)Revenue recognized$(1,026)
Other adjustments$135 Other adjustments$— 
Balance at February 28, 2023$47,619 Balance at February 28, 2022$2,883 
Customer Deposits
Changes in the Company's customer deposits balances for the  three and nine months ended February 28, 2023 and 2022, respectively, are shown in the following table:

(in thousands)(in thousands)
Three Months Ended February 28, 2023Three Months Ended February 28, 2022
Balance at November 30, 2022$24,689 Balance at November 30, 2021$— 
Customer deposits received$11,681 Customer deposits received$5,645 
Customer deposits refunded$— Customer deposits refunded$— 
Other adjustments$— Other adjustments$— 
Balance at February 28, 2023$36,370 Balance at February 28, 2022$5,645 

(in thousands)(in thousands)
Nine Months Ended February 28, 2023Nine Months Ended February 28, 2022
Balance at May 31, 2022$9,524 Balance at May 31, 2021$— 
Customer deposits received$26,980 Customer deposits received$5,645 
Customer deposits refunded$— Customer deposits refunded$— 
Other adjustments$(135)Other adjustments$— 
Balance at February 28, 2023$36,370 Balance at February 28, 2022$5,645