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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
May 31, 2024
May 31, 2023
May 31, 2022
Revenues      
Total revenue $ 66,218 $ 64,961 $ 50,829
Cost of revenue      
Total cost of revenue 33,675 32,215 27,164
Gross profit 32,543 32,746 23,665
Operating expenses:      
Research and development 8,719 7,134 5,818
Selling, general and administrative 13,746 12,237 10,047
Total operating expenses 22,465 19,371 15,865
Income from operations 10,078 13,375 7,800
Interest income, net 2,388 1,245 13
Other income (expense), net (8) (3) 30
Gain from forgiveness of PPP loan 0 0 1,698
Income before income tax expense (benefit) 12,458 14,617 9,541
Income tax expense (benefit) (20,698) 60 91
Net income $ 33,156 $ 14,557 $ 9,450
Net income per share:      
Basic $ 1.15 $ 0.52 $ 0.36
Diluted $ 1.12 $ 0.50 $ 0.34
Shares used in per share calculations:      
Basic 28,818 27,785 26,014
Diluted 29,617 29,215 27,774
Product [Member]      
Revenues      
Total revenue $ 61,729 $ 60,717 $ 47,871
Cost of revenue      
Total cost of revenue 31,093 29,759 25,664
Service [Member]      
Revenues      
Total revenue 4,489 4,244 2,958
Cost of revenue      
Total cost of revenue $ 2,582 $ 2,456 $ 1,500