XML 45 R30.htm IDEA: XBRL DOCUMENT
v3.24.4

Business Segments (Tables) | 6 Months Ended
--- | ---
Nov. 30, 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 |  |  | Six Months Ended
| November 30, 2024 |  | November 30, 2023 |  |  | November 30, 2024 |  | November 30, 2023
Data center hosting segment | $ | 36,163 |  |  | $ | 37,753 |  |  |  | $ | 71,012 |  |  | $ | 71,925 |
Cloud services segment | 27,705 |  |  | 4,450 |  |  |  | 53,560 |  |  | 6,602 |
Total revenue | $ | 63,868 |  |  | $ | 42,203 |  |  |  | $ | 124,572 |  |  | $ | 78,527 |
We also provide the following additional segment disclosures (in thousands):
| Three Months Ended |  |  | Six Months Ended
| November 30, 2024 |  | November 30, 2023 |  |  | November 30, 2024 |  | November 30, 2023
Depreciation and amortization: |  |  |  |  |  |  |  |
Data center hosting segment | $ | 3,298 |  |  | $ | 4,365 |  |  |  | $ | 6,657 |  |  | $ | 7,564 |
Cloud services segment | 21,733 |  |  | 8,782 |  |  |  | 51,951 |  |  | 13,290 |
HPC hosting segment | 1,353 |  |  | 184 |  |  |  | 2,074 |  |  | 311 |
Other (1) | 61 |  |  | 93 |  |  |  | 124 |  |  | 119 |
Total depreciation and amortization (2) | $ | 26,445 |  |  | $ | 13,424 |  |  |  | $ | 60,806 |  |  | $ | 21,284 |
(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):
| November 30, 2024 |  | May 31, 2024
Data center hosting segment | $ | 140,809 |  |  | $ | 145,222 |
Cloud services segment | 389,898 |  |  | 374,216 |
HPC hosting segment | 717,131 |  |  | 220,648 |
Total segment assets | 1,247,838 |  |  | 740,086 |
Other (1) | 295,331 |  |  | 22,781 |
Total assets | $ | 1,543,169 |  |  | $ | 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 |  |  | Six Months Ended
| November 30, 2024 |  | November 30, 2023 |  |  | November 30, 2024 |  | November 30, 2023
Segment profit (loss) |  |  |  |  |  |  |  |
Data center hosting segment (1) | $ | 12,550 |  |  | $ | 10,896 |  |  |  | $ | 48,401 |  |  | $ | 19,897 |
Cloud services segment | (5,810) |  |  | (11,559) |  |  |  | (21,620) |  |  | (18,964) |
HPC hosting segment | (5,839) |  |  | (908) |  |  |  | (8,784) |  |  | (1,662) |
Total segment profit (loss) | 901 |  |  | (1,571) |  |  |  | 17,997 |  |  | (729) |
Other (2) | (19,516) |  |  | (6,341) |  |  |  | (27,128) |  |  | (14,551) |
Operating loss | (18,615) |  |  | (7,912) |  |  |  | (9,131) |  |  | (15,280) |
Interest expense, net | 7,482 |  |  | 2,617 |  |  |  | 14,790 |  |  | 4,750 |
Loss on conversion of debt | 25,410 |  |  | — |  |  |  | 33,612 |  |  | — |
Loss on change in fair value of debt | 87,218 |  |  | — |  |  |  | 85,439 |  |  | — |
Loss on debt extinguishment | — |  |  | — |  |  |  | — |  |  | 2,353 |
Net loss before income tax expenses | $ | (138,725) |  |  | $ | (10,529) |  |  |  | $ | (142,972) |  |  | $ | (22,383) |
(1)The six months ended November 30, 2024 includes a $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 Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
Name: | us-gaap_ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration