XML 18 R7.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Feb. 29, 2024
Feb. 28, 2023
CASH FLOW FROM OPERATING ACTIVITIES    
Net loss $ (85,221) $ (38,750)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 12,899 2,580
Stock-based compensation 13,634 26,878
Lease expense 41,473 2,296
Deferred income taxes 0 (280)
Loss on extinguishment of debt [1] 2,353 94
Amortization of debt issuance costs 498 0
Loss on classification as held for sale 21,723 0
Loss on change in fair value of related party debt 2,612 0
Changes in operating assets and liabilities:    
Accounts receivable (143) 145
Prepaid expenses and other current assets (4,115) (266)
Accounts payable 55,464 (10,019)
Accrued liabilities 8,191 1,562
Lease assets and liabilities (35,675) (580)
Other assets (1,363) (104)
CASH FLOW PROVIDED BY OPERATING ACTIVITIES 47,896 54,144
CASH FLOW FROM INVESTING ACTIVITIES    
Purchases of property and equipment and other assets (86,996) (96,214)
Finance lease prepayments (35,132) 0
Purchases of investments (390) (100)
CASH FLOW USED IN INVESTING ACTIVITIES (122,518) (96,314)
CASH FLOW FROM FINANCING ACTIVITIES    
Repayment of finance leases (27,527) (1,635)
Payment of deferred financing costs 0 (333)
Tax payments for restricted stock upon vesting (606) (114)
Noncontrolling interest contributions 0 4,146
Proceeds from issuance of common stock, net of costs 121,002 0
CASH FLOW PROVIDED BY FINANCING ACTIVITIES 72,028 18,792
NET DECREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH (2,594) (23,378)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, BEGINNING OF PERIOD 43,574 46,299
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, END OF PERIOD 40,980 22,921
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Interest paid 9,121 1,118
SUPPLEMENTAL DISCLOSURE OF NON-CASH ACTIVITIES    
Operating right-of-use assets obtained by lease obligation 95,018 0
Finance right-of-use assets obtained by lease obligation 219,268 8,693
Property and equipment in accounts payable and accrued liabilities 41,100 9,384
Extinguishment of non-controlling interest 9,765 0
Nonrelated Party    
Changes in operating assets and liabilities:    
Customer deposits (150) 24,584
Deferred revenue 15,953 42,261
CASH FLOW FROM FINANCING ACTIVITIES    
Borrowings of long-term debt 8,422 25,567
Repayments of long-term debt (6,763) (8,839)
Related Party    
Changes in operating assets and liabilities:    
Customer deposits 0 2,262
Deferred revenue (237) 1,481
CASH FLOW FROM FINANCING ACTIVITIES    
Borrowings of related party debt 23,000 0
Repayment of related party debt $ (45,500) $ 0
[1] Amounts included in the nine months ended February 29, 2024 are related to the extinguishment of related party debt.