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Revenue from Contracts with Customers | 6 Months Ended
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Nov. 30, 2023
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 customers for the three and six months ended November 30, 2023 and 2022, respectively.
| Three Months Ended November 30, |  | Six Months Ended November 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Customer A | 70 | % |  | — | % |  | 69 | % |  | — | %
Customer B | — | % |  | 27 | % |  | — | % |  | 22 | %
Customer C | — | % |  | 33 | % |  | — | % |  | 34 | %
Customer D | — | % |  | 16 | % |  | — | % |  | 18 | %
Customer E | — | % |  | 13 | % |  | — | % |  | 14 | %
Customer F | — | % |  | 12 | % |  | — | % |  | 13 | %
Customer G | 11 | % |  | — | % |  | — | % |  | — | %
Deferred Revenue As of November 30, 2023, the Company had $52.0 million in deferred revenue (inclusive of related party deferred revenue), which represents the Company’s remaining performance obligations, and expects to recognize the entire balance within the next 12 months. Changes in the Company's deferred revenue balances for the six months ended November 30, 2023 and 2022, respectively, are shown in the following tables (in thousands):
| Six Months Ended
| November 30, 2023 |  | November 30, 2022
Balance, beginning of period | $ | 48,692 |  |  | $ | 3,877 |
Advance billings | 81,839 |  |  | 44,646 |
Revenue recognized | (78,527) |  |  | (19,264) |
Other adjustments | — |  |  | 135 |
Less: Related party balances | (1,953) |  |  | (1,639) |
Balance, end of period | $ | 50,051 |  |  | $ | 27,755 |
Customer Deposits Changes in the Company's customer deposits balances for the six months ended November 30, 2023 and 2022, respectively, are shown in the following table (in thousands):
| Six Months Ended
| November 30, 2023 |  | November 30, 2022
Balance, beginning of period | $ | 36,370 |  |  | $ | 9,524 |
Customer deposits received | 4,274 |  |  | 15,300 |
Customer deposits refunded | — |  |  | — |
Other adjustments | — |  |  | (135) |
Less: Related party balances | (3,811) |  |  | (1,940) |
Balance, end of period | $ | 36,833 |  |  | $ | 22,749 |

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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 -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-9 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-10 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-15 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-13 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org//606/tableOfContent + Details
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