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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
May 31, 2024
May 31, 2023
Current assets:    
Cash and cash equivalents $ 49,159 $ 30,054
Short-term investments 0 17,853
Accounts receivable 9,796 16,594
Inventories 37,470 23,908
Prepaid expenses and other current assets 1,423 621
Total current assets 97,848 89,030
Property and equipment, net 3,253 2,759
Operating lease right-of-use assets, net 5,734 6,123
Deferred tax assets, net 20,773 0
Other non-current assets 304 231
Total assets 127,912 98,143
Current liabilities:    
Accounts payable 5,332 9,206
Accrued expenses 3,366 4,143
Operating lease liabilities, short-term 465 137
Deferred revenue, short-term 1,345 2,822
Total current liabilities 10,508 16,308
Operating lease liabilities, long-term 5,732 6,163
Deferred revenue, long-term 41 31
Other long-term liabilities 38 41
Total liabilities 16,319 22,543
Shareholders' equity:    
Preferred stock, $0.01 par value: Authorized: 10,000 shares; Issued and outstanding: none 0 0
Common stock, $0.01 par value: Authorized: 75,000 shares; Issued and outstanding: 28,995 shares and 28,539 shares at May 31, 2024 and 2023, respectively 289 285
Additional paid-in-capital 130,612 127,776
Accumulated other comprehensive loss (158) (155)
Accumulated deficit (19,150) (52,306)
Total shareholders' equity 111,593 75,600
Total liabilities and shareholders' equity $ 127,912 $ 98,143