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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Nov. 24, 2024
Nov. 26, 2023
Nov. 24, 2024
Nov. 26, 2023
Revenues $ 32,564 $ 30,150 $ 57,269 $ 54,672
Cost of goods sold 21,480 20,193 40,798 41,987
Gross profit 11,084 9,957 16,471 12,685
Operating costs and expenses:        
Research and development 1,924 2,098 4,110 4,244
Selling, general, and administrative 11,119 9,342 25,904 18,538
Total operating costs and expenses 13,043 11,440 30,014 22,782
Operating loss (1,959) (1,483) (13,543) (10,097)
Change in fair value of debt derivative liability, related party 1,200 20,700 2,100 20,900
Other expense, net (304) (967) (507) (1,138)
(Loss) income from continuing operations before income taxes (6,528) 14,177 (22,783) 1,655
Income tax (expense) benefit (43) 65 (18) (23)
(Loss) income from continuing operations (6,571) 14,242 (22,801) 1,632
(Loss) income from discontinued operations 0 (24) 0 1,832
Net (loss) income (6,571) 14,218 (22,801) 3,464
Fair value of conversion ratio improvement to preferred stockholders (2,132) 0 (2,132) 0
(Loss) income available to common stockholders $ (8,703) $ 14,218 $ (24,933) $ 3,464
Basic income or loss per share:        
(Loss) income from continuing operations available to common stockholders (in dollars per share) $ (0.25) $ 0.47 $ (0.76) $ 0.05
Income from discontinued operations (in dollars per share) 0 0 0 0.06
Total basic net (loss) income per share (in dollars per share) (0.25) 0.47 (0.76) 0.11
Diluted income or loss per share:        
(Loss) income from continuing operations available to common stockholders (in dollars per share) (0.25) 0.39 (0.76) 0.05
Income from discontinued operations (in dollars per share) 0 0 0 0.05
Total diluted net (loss) income per share (in dollars per share) $ (0.25) $ 0.39 $ (0.76) $ 0.10
Shares used in income or loss per share computations:        
Basic (in shares) 34,360,657 30,458,032 32,609,808 30,430,712
Diluted (in shares) 34,360,657 36,419,103 32,609,808 36,397,352
Nonrelated party        
Revenues $ 19,534 $ 20,522 $ 36,327 $ 37,475
Operating costs and expenses:        
Interest expense, net (842) (832) (1,810) (1,625)
Related party        
Revenues 13,030 9,628 20,942 17,197
Operating costs and expenses:        
Interest expense, net $ (4,623) $ (3,241) $ (9,023) $ (6,385)