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Income taxes (Tables)

12 Months Ended

May 25, 2025

Income Tax Disclosure [Abstract]

Schedule of Benefits and Provisions for Income Taxes

The following table presents the components of the provision for income taxes from continuing operations:

			Year ended
			May 25, 2025						May 26, 2024
Current:
Federal			$	14					$	(10)
State			148						37
Total			162						27
Deferred:
Federal			(124)						173
State			5						(17)
Total			(119)						156
Income tax provision			$	43					$	183

Schedule of Provision (Benefit) for Income Taxes

Income tax expense differs from the amount calculated using the 21% statutory U.S. federal income tax rate as follows:

			Year ended
			May 25, 2025						May 26, 2024
Tax at U.S. statutory rate			$	(8,122)					$	1,998
State income taxes, net of federal benefit			(197)						52
Compensation-related activity			799						418
Return to provision adjustments			213						3,136
Deferred tax write-offs			(748)						711
Tax credit carryforwards			(539)						(518)
Other			96						158
Change in valuation allowance			8,541						(5,772)
Income tax expense			$	43					$	183

Schedule of Deferred Tax Assets and Liabilities

The following table presents the components of deferred tax assets and liabilities reported in the balance sheets:

			Year ended
			May 25, 2025						May 26, 2024
Deferred tax assets:
Net operating loss carryforwards			$	40,677					$	40,806
Limitations on business interest expense			15,573						11,783
Research credit carryforwards			7,116						6,700
Capitalized research and development			3,767						2,916
Other			6,338						4,609
Deferred tax assets before valuation allowance			73,471						66,814
Less: valuation allowance			(54,714)						(46,173)
Deferred tax assets			18,757						20,641
Deferred tax liabilities:
Depreciation			(10,735)						(11,809)
Debt derivative liability and related debt discount			(7,026)						(7,911)
Other			(1,419)						(1,464)
Deferred tax liabilities			(19,180)						(21,184)
Net deferred tax liability			$	(423)					$	(543)

Summary of Operating Loss and Tax Credit Carryforwards

The following table presents the amounts and expiration dates of net operating loss and tax credit carryforwards as of May 25, 2025:

			Net operating loss carryforwards												Research and development credits
			Amount						Begin to expire						Amount						Life						Begin to expire
Federal			$	172,048					2028						$	3,858					20 years						2033
California			52,239						2025						2,058						unlimited						none
All other states			16,512						2025						2,024						15 years						2029

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

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-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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-Section 50
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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure of pertinent information, such as tax authority, amounts, and expiration dates, of net operating loss carryforwards, including an assessment of the likelihood of utilization.

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