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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
May 30, 2025
May 31, 2024
May 31, 2023
Cash flows from operating activities:      
Net income (loss) $ (3,910) $ 33,156 $ 14,557
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Stock-based compensation expense 5,162 2,518 2,748
Depreciation and amortization 2,312 657 450
Deferred income taxes (421) (20,773) 0
Amortization of operating lease right-of-use assets 1,076 706 649
Impairment of assets 584 0 0
Accretion of investment discount 0 (130) (576)
Provision for credit losses 0 0 24
Changes in operating assets and liabilities:      
Accounts receivable (3,037) 6,790 (3,788)
Inventories (2,441) (13,732) (9,469)
Prepaid expenses and other current assets (5,012) (875) 28
Accounts payable (714) (3,891) 5,044
Accrued expenses (378) (792) 528
Deferred revenue 143 (1,469) 369
Operating lease liabilities (699) (423) (561)
Income taxes payable (65) 14 8
Net cash provided by (used in) operating activities (7,400) 1,756 10,011
Cash flows from investing activities:      
Payments for business acquisition, net of cash and cash equivalent acquired (11,075) 0 0
Purchases of property and equipment (4,992) (749) (1,362)
Proceeds from maturities of investments 0 18,000 16,000
Purchases of investments 0 0 (33,294)
Net cash provided by (used in) investing activities (16,067) 17,251 (18,656)
Cash flows from financing activities:      
Proceeds from issuance of common stock under employee plans 1,409 1,807 2,562
Shares repurchased for tax withholdings on vesting of restricted stock units and in connection with the termination of the ESOP (784) (1,596) (2,060)
Proceeds from issuance of common stock, net of issuance costs 0 (72) 6,820
Net cash provided by financing activities 625 139 7,322
Effect of exchange rate changes on cash, cash equivalents and restricted cash 13 (41) (37)
Net increase (decrease) in cash, cash equivalents and restricted cash (22,829) 19,105 (1,360)
Cash, cash equivalents and restricted cash, beginning of year(1) 49,309 30,204 31,564
Cash, cash equivalents and restricted cash, end of year(1) 26,480 49,309 30,204
Supplemental cash flow information:      
Income taxes paid 100 90 21
Interest paid 0 0 15
Supplemental disclosure of non-cash flow information:      
Net transfer of equipment between inventory and property and equipment 458 357 646
Purchases of property and equipment included in accounts payable and accrued liabilities $ 1,259 $ 53 $ 698