XML 27 R5.htm IDEA: XBRL DOCUMENT v3.25.2
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
 12 Months Ended
May 25, 2025
May 26, 2024
Revenues $ 128,867 $ 128,261
Cost of goods sold 88,569 86,411
Gross profit 40,298 41,850
Research and development expenses 8,258 8,575
Selling, general, and administrative expenses 44,046 40,463
Loss on sale or disposal of assets, net of portion classified as cost of sales 6,986 0
Restructuring (recovery) costs (1,747) 1,656
Operating loss (17,245) (8,844)
Change in fair value of debt derivative liability, related party 409 39,500
Other expense, net (3) (3,052)
(Loss) income from continuing operations before income taxes (38,674) 9,514
Income tax expense (43) (183)
(Loss) income from continuing operations (38,717) 9,331
Income from discontinued operations 0 2,682
Net (loss) income (38,717) 12,013
Preferred stock dividends (3,318) 0
Accretion of preferred stock to redemption value (192) 0
Fair value of conversion ratio improvement to preferred stockholders (2,132) 0
(Loss) income available to common stockholders $ (44,359) $ 12,013
Basic income or loss per share:    
(Loss) income from continuing operations available to common stockholders (in dollars per share) $ (1.27) $ 0.30
Income from discontinued operations (in dollars per share) 0 0.09
Basic (loss) income per share (in dollars per share) (1.27) 0.39
Diluted income or loss per share:    
(Loss) income from continuing operations available to common stockholders (in dollars per share) (1.27) 0.26
Income from discontinued operations (in dollars per share) 0 0.07
Diluted (loss) income per share (in dollars per share) $ (1.27) $ 0.33
Weighted average shares outstanding:    
Basic (in shares) 34,818,906 30,474,298
Diluted (in shares) 34,818,906 36,658,186
Nonrelated party    
Revenues $ 72,328 $ 77,674
Interest expense, net (2,956) (3,428)
Related party    
Revenues 56,539 50,587
Interest expense, net $ (18,879) $ (14,662)