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Leases
 6 Months Ended
Nov. 30, 2024
Leases [Abstract]  
Leases Leases
From time to time, 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 EndedSix Months Ended
November 30, 2024November 30, 2023November 30, 2024November 30, 2023
Operating lease cost:
Operating lease expense$8,941$2,486$17,882$2,970
Short-term lease expense398060207
Total operating lease cost8,9802,56617,9423,177
Finance lease expense:
Amortization of right-of-use assets(1)
23,38110,86054,65116,490
Interest on lease liabilities4,9231,6599,2792,741
Total finance lease cost28,30412,51963,93019,231
Variable lease cost624011777
Sublease Income—(24)—(47)
Total net lease cost$37,346$15,101$81,989$22,438
(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 November 30, 2024:
Operating LeasesFinance LeasesTotal
Remainder of FY25$15,609 $70,935$86,544 
FY2632,035 143,804175,839 
FY2732,697 1432,711 
FY2833,453 133,454 
FY2925,240 —25,240 
Thereafter3,536 —3,536 
Total lease payments142,570 214,754357,324 
Less: imputed interest(21,653)(15,846)(37,499)
Total lease liabilities120,917198,908319,825 
Less: Current portion of lease liability(23,096)(136,511)(159,607)
Long-term portion of lease liability$97,821 $62,397$160,218 
Supplemental cash flow and other information related to leases is as follows:
Six Months Ended
November 30, 2024November 30, 2023
Weighted-average years remaining (in years):
Finance leases3.6 years5.5 years
Operating leases3.2 years5.7 years
Weighted-average discount rate:
Finance leases10.2 %8.8 %
Operating leases7.8 %7.9 %
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
From time to time, 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 EndedSix Months Ended
November 30, 2024November 30, 2023November 30, 2024November 30, 2023
Operating lease cost:
Operating lease expense$8,941$2,486$17,882$2,970
Short-term lease expense398060207
Total operating lease cost8,9802,56617,9423,177
Finance lease expense:
Amortization of right-of-use assets(1)
23,38110,86054,65116,490
Interest on lease liabilities4,9231,6599,2792,741
Total finance lease cost28,30412,51963,93019,231
Variable lease cost624011777
Sublease Income—(24)—(47)
Total net lease cost$37,346$15,101$81,989$22,438
(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 November 30, 2024:
Operating LeasesFinance LeasesTotal
Remainder of FY25$15,609 $70,935$86,544 
FY2632,035 143,804175,839 
FY2732,697 1432,711 
FY2833,453 133,454 
FY2925,240 —25,240 
Thereafter3,536 —3,536 
Total lease payments142,570 214,754357,324 
Less: imputed interest(21,653)(15,846)(37,499)
Total lease liabilities120,917198,908319,825 
Less: Current portion of lease liability(23,096)(136,511)(159,607)
Long-term portion of lease liability$97,821 $62,397$160,218 
Supplemental cash flow and other information related to leases is as follows:
Six Months Ended
November 30, 2024November 30, 2023
Weighted-average years remaining (in years):
Finance leases3.6 years5.5 years
Operating leases3.2 years5.7 years
Weighted-average discount rate:
Finance leases10.2 %8.8 %
Operating leases7.8 %7.9 %
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.