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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Nov. 24, 2024
Nov. 26, 2023
Cash flows from operating activities:    
Net (loss) income $ (22,801) $ 3,464
Adjustments to reconcile net income or loss to net cash used in operating activities:    
Depreciation and amortization 4,037 3,934
Stock-based compensation 5,791 3,110
Deferred taxes 9 36
Change in debt derivative liability, related party (2,100) (20,900)
(Reversal of) provision for expected credit losses (150) 37
Net loss on disposal of property, plant, and equipment 49 19
Changes in operating assets and liabilities:    
Inventories 765 (605)
Other assets (1,139) 2,023
Accounts payable 791 (4,261)
Accrued compensation (1,534) (779)
Other liabilities 64 (2,776)
Net cash used in operating activities (6,753) (7,041)
Cash flows from investing activities:    
Purchases of property, plant, and equipment (5,862) (9,315)
Net cash used in investing activities (5,862) (9,315)
Cash flows from financing activities:    
Issuance of common stock, net of fees 23,841 0
Proceeds from exercise of stock options 0 724
Proceeds from finance lease incentive 2,400 0
(Repayments of) proceeds from revolving credit facility, net (11,191) 69
Payments related to employee stock plans (974) (57)
Principal payments on equipment financing, related party (386) (193)
Principal payments on finance leases (82) (57)
Net cash provided by financing activities 13,608 486
Net increase (decrease) in cash and cash equivalents 993 (15,870)
Cash and cash equivalents, beginning of period 8,462 19,091
Cash and cash equivalents, end of period 9,455 3,221
Supplemental disclosure of cash flow information:    
Cash paid for income taxes 127 70
Cash paid for interest 1,298 1,255
Purchases of property, plant, and equipment in accounts payable 5,700 8,132
Increases to property, plant and equipment financed by finance leases 2,737 0
Capitalization of non-cash interest to property, plant, and equipment 1,456 2,063
Dividends paid in kind on Convertible Preferred Stock 1,628 1,511
Nonrelated party    
Adjustments to reconcile net income or loss to net cash used in operating activities:    
Non-cash interest expense 825 518
Changes in operating assets and liabilities:    
Accounts receivable 316 5,649
Deferred revenues (662) 421
Related party    
Adjustments to reconcile net income or loss to net cash used in operating activities:    
Non-cash interest expense 8,816 6,152
Changes in operating assets and liabilities:    
Accounts receivable 684 (6,861)
Deferred revenues $ (514) $ 3,778