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Leases
 3 Months Ended
Aug. 31, 2024
Leases [Abstract]  
Leases Leases
The Company enters into leases for equipment, office space and co-location space. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. The Company presents operating and finance right of use assets and liabilities separately on the balance sheet as their own captions, with the liabilities split between current and long-term, respectively.
Components of lease expense were as follows (in thousands):
Three Months Ended
August 31, 2024August 31, 2023
Operating lease cost:
Operating lease expense$8,941$485
Short-term lease expense2182
Total operating lease cost8,962567
Finance lease expense:
Amortization of right-of-use assets(1)
31,2705,630
Interest on lease liabilities4,3561,082
Total finance lease cost35,6266,712
Variable lease cost5538
Sublease Income—(23)
Total net lease cost$44,643$7,294
(1)    Amortization of right-of-use assets is included within cost of revenues and selling, general and administrative expense in the unaudited condensed consolidated statements of operations.
The following table represents the Company’s future minimum lease payments as of August 31, 2024:
Operating LeasesFinance LeasesTotal
Remainder of FY25$23,331 $94,873$118,204 
FY2632,035 71,864103,899 
FY2732,697 1,52334,220 
FY2833,453 233,455 
FY2925,240 —25,240 
Thereafter3,536 —3,536 
Total lease payments150,292 168,262318,554 
Less: imputed interest(24,028)(12,342)(36,370)
Total lease liabilities126,264155,920282,184 
Less: Current portion of lease liability(22,393)(112,079)(134,472)
Long-term portion of lease liability$103,871 $43,841$147,712 
Supplemental cash flow and other information related to leases is as follows:
Three Months Ended
August 31, 2024August 31, 2023
Weighted-average years remaining (in years):
Finance leases1.5 years8.4 years
Operating leases3.3 years5.0 years
Weighted-average discount rate:
Finance leases10.5 %8.5 %
Operating leases7.8 %7.7 %
The Company has entered into leases which are executed but not yet commenced with total minimum payments of approximately $18.9 million. The payments are for various leases with terms of 2 years.
Leases Leases
The Company enters into leases for equipment, office space and co-location space. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. The Company presents operating and finance right of use assets and liabilities separately on the balance sheet as their own captions, with the liabilities split between current and long-term, respectively.
Components of lease expense were as follows (in thousands):
Three Months Ended
August 31, 2024August 31, 2023
Operating lease cost:
Operating lease expense$8,941$485
Short-term lease expense2182
Total operating lease cost8,962567
Finance lease expense:
Amortization of right-of-use assets(1)
31,2705,630
Interest on lease liabilities4,3561,082
Total finance lease cost35,6266,712
Variable lease cost5538
Sublease Income—(23)
Total net lease cost$44,643$7,294
(1)    Amortization of right-of-use assets is included within cost of revenues and selling, general and administrative expense in the unaudited condensed consolidated statements of operations.
The following table represents the Company’s future minimum lease payments as of August 31, 2024:
Operating LeasesFinance LeasesTotal
Remainder of FY25$23,331 $94,873$118,204 
FY2632,035 71,864103,899 
FY2732,697 1,52334,220 
FY2833,453 233,455 
FY2925,240 —25,240 
Thereafter3,536 —3,536 
Total lease payments150,292 168,262318,554 
Less: imputed interest(24,028)(12,342)(36,370)
Total lease liabilities126,264155,920282,184 
Less: Current portion of lease liability(22,393)(112,079)(134,472)
Long-term portion of lease liability$103,871 $43,841$147,712 
Supplemental cash flow and other information related to leases is as follows:
Three Months Ended
August 31, 2024August 31, 2023
Weighted-average years remaining (in years):
Finance leases1.5 years8.4 years
Operating leases3.3 years5.0 years
Weighted-average discount rate:
Finance leases10.5 %8.5 %
Operating leases7.8 %7.7 %
The Company has entered into leases which are executed but not yet commenced with total minimum payments of approximately $18.9 million. The payments are for various leases with terms of 2 years.