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Business Segments (Tables)

3 Months Ended

Aug. 31, 2024

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

Revenue by segment (excluding HPC hosting as that segment has no revenue) was as follows (in thousands):

			Three Months Ended
			August 31, 2024						August 31, 2023
Data center hosting segment			$	34,849					$	34,171
Cloud services segment			25,855						2,152
Total revenue			$	60,704					$	36,323

We also provide the following additional segment disclosures (in thousands):

			Three Months Ended
			August 31, 2024						August 31, 2023
Depreciation and amortization:
Data center hosting segment			$	3,359					$	3,351
Cloud services segment			30,218						4,508
HPC hosting segment			722						126
Other (1)			62						27
Total depreciation and amortization (2)			$	34,361					$	8,012

(1)Other includes corporate related items not allocated to reportable segments.

(2)Includes amortization of the finance lease right-of-use assets.

Information on segment assets and a reconciliation to consolidated assets are as follows (in thousands):

			August 31, 2024						May 31, 2024
Data center hosting segment			$	143,120					$	145,222
Cloud services segment			338,761						374,216
HPC hosting segment			387,562						220,648
Total segment assets			869,443						740,086
Other (1)			68,289						22,781
Total assets			$	937,732					$	762,867

(1) Other includes corporate related items not allocated to reportable segments.

Schedule of Segment Profit and a Reconciliation to Net Income (Loss) Before Income Tax Expenses

Segment profit (loss) and a reconciliation to net loss before income tax expenses is as follows (in thousands):

			Three Months Ended
			August 31, 2024						August 31, 2023
Segment profit (loss)
Data center hosting segment (1)			$	35,851					$	9,001
Cloud services segment			(15,811)						(7,405)
HPC hosting segment			(2,944)						(754)
Total segment profit			17,096						842
Other (2)			(7,613)						(8,210)
Operating income (loss)			9,483						(7,368)
Interest expense, net			7,308						2,133
Loss on change in fair value of debt			6,422						—
Loss on debt extinguishment			—						2,353
Net loss before income tax expenses			$	(4,247)					$	(11,854)

(1)The three months ended August 31, 2024 includes $25 million gain on classification of held for sale related to the satisfaction of a contingency associated with the sale of the Garden City facility.

(2)Other includes corporate related items not allocated to reportable segments.

X

- Definition

Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment.

+ References

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-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-Publisher FASB
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- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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