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Related Party Transactions
 6 Months Ended
Nov. 30, 2024
Related Party Transactions [Abstract]  
Related Party Transactions Related Party Transactions
Related Party Revenue
The following table illustrates related party revenue for the three and six months ended November 30, 2024 and November 30, 2023 (in thousands):
Three Months EndedSix Months Ended
November 30, 2024November 30, 2023November 30, 2024November 30, 2023
Customer D*$— $1,986 $992 $4,319 
Customer E**$— $1,648 $678 $3,500 
*Customer D is a subsidiary of an entity which, during the first quarter of fiscal year 2025, was deemed to beneficially own over 5% of the Company's outstanding common stock. As of July 25, 2024, the controlling individual of the entity filed a Schedule 13G to report the fact that as of the date thereof, the entity had ceased to be a beneficial owner of more than 5% of such class of securities.
**Customer E is 60% owned by an individual who, during the first quarter of fiscal year 2025, was deemed to beneficially own over 5% of the Company's outstanding common stock. As of July 25, 2024, the individual filed a Schedule 13G to report the fact that as of the date thereof, the individual had ceased to be a beneficial owner of more than 5% of such class of securities.
The following table illustrates related party deferred revenue and deposits balances as of November 30, 2024 and May 31, 2024 (in thousands):
Customer D balances as ofCustomer E balances as of
November 30, 2024May 31, 2024November 30, 2024May 31, 2024
Deferred revenue$— $993 $— $699 
Customer deposits
$— $895 $— $654 
Related Party Sublease Income
The Company received sublease income from B. Riley Asset Management, which is also a wholly-owned subsidiary of B. Riley Financial, Inc. As previously disclosed, the Company’s Chairman and Chief Executive Officer, served as the President of B. Riley Asset Management, and effective February 5, 2024, resigned from that position and as such, B. Riley ceased being a related party as of May 31, 2024. Sublease income is included in selling, general and administrative expenses in our unaudited condensed consolidated statements of operations. Related party sublease income for the three and six months ended November 30, 2023 was $24,000 and $47,100, respectively.
Other Related Party Transactions
Related party transactions included within selling, general, and administrative expense on the unaudited condensed consolidated statement of operations include the following:
•construction and consulting costs of $0.1 million and $0.2 million during the three and six months ended November 30, 2023 were incurred with a company owned by a family member of the Company’s Chief Administrative Officer. There were no transactions with this related party during the three and six months ended November 30, 2024.
•software license fees of $0.1 million and $0.1 million, during the three and six months ended November 30, 2024, respectively, and $60.8 thousand and $0.1 million during the three and six months ended November 30, 2023, respectively, were incurred with a company whose chairman is also a member of the Company’s Board of Directors.