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Segments and Geographic Information
 12 Months Ended
May 31, 2023
Segment Reporting [Abstract]  
SEGMENTS AND GEOGRAPHIC INFORMATION SEGMENTS AND GEOGRAPHIC INFORMATION
Segment information
The Company regularly reviews its segments and the approach used by the chief operating decision maker, the President and Chief Executive Officer ("CEO"), and management to evaluate performance and allocate resources. Prior to the first quarter of fiscal year 2023, the Company considered the business to be a single operating segment engaged in the development, manufacture and sale of medical devices for vascular access, peripheral vascular disease and oncology on a global basis. Commencing with the first quarter of fiscal year 2023, the Company began to manage its operations through two segments, Med Tech and Med Device to align with the transformation from a company with a broad portfolio of largely undifferentiated products to a more focused medical technology company. The CEO evaluates these two segments based on net sales and gross margin to, among other items, allocate resources and assess performance. Executives reporting to the CEO include those responsible for commercial operations, manufacturing operations, regulatory and quality and certain corporate functions. The CEO evaluates all other elements of profitability, investment and cash flow metrics on a consolidated global basis due to shared infrastructure and resources.
The Company manages its assets on a total company basis, not by operating segment; therefore, the CEO does not review any asset information by operating segment and, accordingly, asset information is not reported or evaluated by operating segment. Total assets were $532.6 million as of May 31, 2023.
The table below summarizes net sales and gross margin by Med Tech and Med Device including prior periods during which the Company considered the business to be a single operating segment, in order to conform to the current period presentation:
 Year ended May 31,
(in thousands)202320222021
Med Tech Net Sales$96,687 $78,717 $55,731 
Gross Profit$61,966 $52,584 $39,544 
Gross Margin64.1 %66.8 %71.0 %
Med Device Net Sales$242,065 $237,502 $235,279 
Gross Profit$112,280 $113,148 $117,244 
Gross Margin46.4 %47.6 %49.8 %
Total Net Sales$338,752 $316,219 $291,010 
Gross Profit$174,246 $165,732 $156,788 
Gross Margin51.4 %52.4 %53.9 %
Geographic information
The table below summarizes net sales by geographic area based on external customer location:
 Year ended May 31,
(in thousands)202320222021
Net sales by Geography
United States$282,713 $265,963 $237,043 
International56,039 50,256 53,967 
Total$338,752 $316,219 $291,010 
For fiscal years 2023, 2022 and 2021, international sales as a percentage of total net sales were 17%, 16% and 19%, respectively. Sales to any one country outside the U.S., as determined by shipment destination, did not comprise a material portion of net sales in any of the last three fiscal years. In addition, no one customer represents more than 10% of consolidated net sales. 85% of long-lived assets are located within the United States.