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Segment and Geographic Information
 6 Months Ended
Nov. 30, 2022
Segment Reporting [Abstract]  
Segment and Geographic Information SEGMENT 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 Company's chief operating decision maker 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 $558.2 million as of November 30, 2022.
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:
Three Months EndedSix Months Ended
(in thousands)Nov 30, 2022Nov 30, 2021Nov 30, 2022Nov 30, 2021
Med Tech Net Sales$24,502 $18,886 $47,318 $36,493 
Gross profit 15,614 12,578 30,043 24,095 
Gross margin 63.7 %66.6 %63.5 %66.0 %
Med Device Net Sales$60,927 $59,394 119,648 $118,758 
Gross profit 29,464 27,977 57,340 $56,599 
Gross margin 48.4 %47.1 %47.9 %47.7 %
Total Net Sales$85,429 $78,280 $166,966 $155,251 
Gross profit45,078 40,555 87,383 80,694 
Gross margin52.8 %51.8 %52.3 %52.0 %
Geographic information
The table below summarizes net sales by geographic area based on external customer location:
Three Months EndedSix Months Ended
(in thousands)Nov 30, 2022Nov 30, 2021Nov 30, 2022Nov 30, 2021
Net Sales
United States$71,631 $65,350 $140,655 $129,814 
International13,798 12,930 26,311 25,437 
Total$85,429 $78,280 $166,966 $155,251 
For the three months ended November 30, 2022 and 2021, international sales as a percentage of total net sales were 16.2% and 16.5%, respectively. For the six months ended November 30, 2022 and 2021, international sales as a percentage of total net sales were 15.8% and 16.4%, 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 and 96% of long-lived assets are located within the United States.