XML 19 R6.htm IDEA: XBRL DOCUMENT v3.23.4
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Nov. 30, 2023
Nov. 30, 2022
CASH FLOW FROM OPERATING ACTIVITIES    
Net loss $ (22,383) $ (31,409)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 21,284 2,704
Stock-based compensation 10,440 22,398
Deferred income taxes 0 (280)
Loss on extinguishment of debt 2,353 94
Amortization of debt issuance costs 352 0
Loss on abandonment of assets 189 0
Changes in operating assets and liabilities:    
Accounts receivable (225) (49)
Prepaid expenses and other current assets 495 (1,061)
Accounts payable 6,442 (6,844)
Accrued liabilities 2,093 1,099
Lease assets and liabilities (16,904) (220)
Sales and use tax payable (1,626) 865
Other assets (1,040) 0
CASH FLOW PROVIDED BY OPERATING ACTIVITIES 9,056 27,979
CASH FLOW FROM INVESTING ACTIVITIES    
Purchases of property and equipment and other assets (45,830) (70,305)
Finance lease prepayments (19,388) 0
Purchases of investments (390) 0
CASH USED IN INVESTING ACTIVITIES (65,608) (70,305)
CASH FLOW FROM FINANCING ACTIVITIES    
Repayment of finance leases (13,071) (778)
Payment of deferred financing costs 0 (378)
Tax payments for restricted stock upon vesting 0 (43)
Noncontrolling interest contributions 0 1,747
Proceeds from issuance of common stock, net of costs 97,922 0
CASH FLOW PROVIDED BY FINANCING ACTIVITIES 47,612 14,101
NET DECREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH (8,940) (28,225)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, BEGINNING OF PERIOD 43,574 46,299
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, END OF PERIOD 34,634 18,074
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Interest paid 4,370 707
SUPPLEMENTAL DISCLOSURE OF NON-CASH ACTIVITIES    
Operating right-of-use assets obtained by lease obligation 69,329 0
Finance right-of-use assets obtained by lease obligation 96,946 6,925
Property and equipment in accounts payable 23,572 3,466
Conversion of non-controlling interest 9,765 0
Nonrelated Party    
Changes in operating assets and liabilities:    
Customer deposits 4,274 14,784
Deferred revenue 2,883 25,147
CASH FLOW FROM FINANCING ACTIVITIES    
Borrowings of long-term debt 4,732 21,711
Repayments of long-term debt (4,471) (8,158)
Related Party    
Changes in operating assets and liabilities:    
Customer deposits 0 381
Deferred revenue 429 370
CASH FLOW FROM FINANCING ACTIVITIES    
Borrowings of related party debt 8,000 0
Repayment of related party debt $ (45,500) $ 0