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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Aug. 31, 2023
Aug. 31, 2022
Cash flows from operating activities:    
Net income (loss) $ 45,884 $ (13,004)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation and amortization 6,688 7,660
Non-cash lease expense 476 621
Stock based compensation 4,144 3,024
Gain on sale of assets (47,842) 0
Transaction costs for disposition (2,427) 0
Change in fair value of contingent consideration (130) 211
Transaction costs for disposition (11,415) (907)
Change in accounts receivable allowances (78) 45
Fixed and intangible asset impairments and disposals 65 87
Write-off of other assets 869 0
Other (9) (96)
Changes in operating assets and liabilities:    
Accounts receivable 3,157 (1,425)
Inventories (4,574) (6,238)
Prepaid expenses and other (4,168) (5,733)
Accounts payable, accrued and other liabilities (16,539) (8,990)
Net cash used in operating activities (25,899) (24,745)
Cash flows from investing activities:    
Additions to property, plant and equipment (791) (809)
Additions to placement and evaluation units (767) (2,227)
Acquisition of intangibles 0 (540)
Proceeds from sale of assets 100,000 0
Net cash provided by (used in) investing activities 98,442 (3,576)
Cash flows from financing activities:    
Repayment of long-term debt (50,000) (45,000)
Proceeds from borrowings on long-term debt 0 70,000
Deferred financing costs on long-term debt 0 (706)
Payment of acquisition related contingent consideration (10,000) 0
Proceeds from exercise of stock options and employee stock purchase plan 410 82
Net cash (used in) provided by financing activities (59,590) 24,376
Effect of exchange rate changes on cash and cash equivalents 13 (316)
Increase (decrease) in cash and cash equivalents 12,966 (4,261)
Cash and cash equivalents at beginning of period 44,620 28,825
Cash and cash equivalents at end of period 57,586 24,564
Supplemental disclosure of non-cash investing and financing activities:    
Accrual for capital expenditures incurred during the period $ (68) $ 426