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Leases (Tables) | 12 Months Ended
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May 31, 2025
Leases [Abstract] |
Schedule of Lease Payments Due | Reimbursements of operating expenses and variable rent increases are excluded from the table below (in thousands):
|  | Minimum Contracted Payments
FY26 |  | $ | 81,156 |
FY27 |  | 326,340 |
FY28 |  | 372,130 |
FY29 |  | 383,294 |
FY30 |  | 394,793 |
Thereafter |  | 5,206,486 |
Total |  | $ | 6,764,199 |
Schedule of Components of Lease Expense, Supplemental Cash Flow Information and Other Information | Components of lease expense were as follows (in thousands):
| May 31, 2025 |  | May 31, 2024 |  | May 31, 2023
Operating lease cost: |  |  |  |  |
Operating lease expense | $ | 696 |  | $ | 568 |  | $ | 347
Short-term lease expense | 599 |  | 57 |  | 187
Total operating lease cost | 1,295 |  | 625 |  | 534
Finance lease expense: |  |  |  |  |
Amortization of right-of-use assets(1) | 6,929 |  | 5,259 |  | 3,309
Interest on lease liabilities | 1,758 |  | 1,140 |  | 784
Total finance lease cost | 8,687 |  | 6,399 |  | 4,093
Variable lease cost | 232 |  | 169 |  | 3
Sublease Income | — |  | (70) |  | (103)
Total net lease cost | $ | 10,214 |  | $ | 7,123 |  | $ | 4,527
(1) Amortization of right-of-use assets is included within cost of revenues and selling, general and administrative expense in the consolidated statements of operations. Supplemental cash flow and other information related to leases is as follows:
| Fiscal Year Ended
| May 31, 2025 |  | May 31, 2024
Weighted-average years remaining (in years): |  |  |
Finance leases | 1.1 years |  | 1.7 years
Operating leases | 0.4 years |  | 1.1 years
Weighted-average discount rate: |  |  |
Finance leases | 9.4 | % |  | 8.8 | %
Operating leases | 9.7 | % |  | 10.0 | %
Schedule of Future Minimum Operating Lease Payments | The following table represents the Company’s future minimum lease payments as of May 31, 2025 (in thousands):
| Operating Leases |  | Finance Leases |  | Total
FY26 | $ | 761 |  |  | $ | 13,925 |  | $ | 14,686 |
FY27 | 365 |  |  | 14 |  | 379 |
FY28 | 27 |  |  | 1 |  | 28 |
FY29 | — |  |  | — |  | — |
FY30 | — |  |  | — |  | — |
Thereafter | — |  |  | — |  | — |
Total lease payments | 1,153 |  |  | 13,940 |  | 15,093 |
Less: imputed interest | (80) |  |  | (292) |  | (372) |
Total lease liabilities | 1,073 |  | 13,648 |  | 14,721 |
Less: Current portion of lease liability | (692) |  |  | (13,633) |  | (14,325) |
Long-term portion of lease liability | $ | 381 |  |  | $ | 15 |  | $ | 396 |
Schedule of Future Minimum Finance Lease Payments | The following table represents the Company’s future minimum lease payments as of May 31, 2025 (in thousands):
| Operating Leases |  | Finance Leases |  | Total
FY26 | $ | 761 |  |  | $ | 13,925 |  | $ | 14,686 |
FY27 | 365 |  |  | 14 |  | 379 |
FY28 | 27 |  |  | 1 |  | 28 |
FY29 | — |  |  | — |  | — |
FY30 | — |  |  | — |  | — |
Thereafter | — |  |  | — |  | — |
Total lease payments | 1,153 |  |  | 13,940 |  | 15,093 |
Less: imputed interest | (80) |  |  | (292) |  | (372) |
Total lease liabilities | 1,073 |  | 13,648 |  | 14,721 |
Less: Current portion of lease liability | (692) |  |  | (13,633) |  | (14,325) |
Long-term portion of lease liability | $ | 381 |  |  | $ | 15 |  | $ | 396 |

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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-4 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-6 + Details
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- Definition Tabular disclosure of maturity of undiscounted cash flows to be received by lessor on annual basis for operating lease. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479773/842-30-50-12 + Details
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