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Revenue from Contracts with Customers
 12 Months Ended
May 31, 2024
Revenue from Contract with Customer [Abstract]  
Revenue from Contracts with Customers Revenue from Contracts with Customers
Below is a summary of the Company’s revenue concentration by major customer for the fiscal years ended May 31, 2024 and 2023:
May 31, 2024May 31, 2023
Customer A62 %24 %
Customer B— %20 %
Customer C— %19 %
Customer D— %14 %
Customer E— %12 %
Customer F— %11 %
Customer G12 %— %
Deferred Revenue
Changes in the Company's deferred revenue balances for the fiscal year ended May 31, 2024 and May 31, 2023, respectively, are shown in the following table (in thousands):
May 31, 2024May 31, 2023
Balance, beginning of period$48,692 $3,877 
Advance billings148,131 100,072 
Revenue recognized(165,028)(55,392)
Other adjustments7,571 135 
Less: Related party balances(1,692)(1,524)
Balance, end of period$37,674 $47,168 
Customer Deposits
Changes in the Company's customer deposits balances for the years ended May 31, 2024 and 2023, respectively, are shown in the following table (in thousands):
May 31, 2024May 31, 2023
Balance, beginning of period$36,370 $9,524 
Customer deposits received3,395 26,980 
Customer deposits applied
(12,633)— 
Other adjustments(11,764)(135)
Less: Related party balances(1,549)(3,810)
Balance, end of period$13,819 $32,559