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Revenue recognition | 9 Months Ended
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Feb. 23, 2025
Revenue from Contract with Customer [Abstract] |
Revenue recognition | Revenue recognition The Company disaggregates its revenue based on how it markets its products and services and reviews results of operations. The following table disaggregates revenues by major product lines and services:
| Three months ended |  | Nine months ended
| February 23, 2025 |  | February 25, 2024 |  | February 23, 2025 |  | February 25, 2024
CDMO | $ | 20,789 |  |  | $ | 22,306 |  |  | $ | 66,579 |  |  | $ | 67,522 |
HA manufacturing | 14,365 |  |  | 13,398 |  |  | 25,844 |  |  | 22,853 |
Total | $ | 35,154 |  |  | $ | 35,704 |  |  | $ | 92,423 |  |  | $ | 90,375 |
The following table disaggregates revenues by the timing of revenue recognition:
| Three months ended |  | Nine months ended
| February 23, 2025 |  | February 25, 2024 |  | February 23, 2025 |  | February 25, 2024
Revenues recognized over time | $ | 5,505 |  |  | $ | 7,022 |  |  | $ | 17,503 |  |  | $ | 19,229 |
Revenues recognized at a point in time | 29,649 |  |  | 28,682 |  |  | 74,920 |  |  | 71,146 |
Total | $ | 35,154 |  |  | $ | 35,704 |  |  | $ | 92,423 |  |  | $ | 90,375 |
During the three months ended February 23, 2025, the Company had revenues concentrations of 10% or greater from two customers, accounting for 54% and 18%. During the three months ended February 25, 2024, the Company had revenues concentrations of 10% or greater from two customers, accounting for 52% and 14%. During the nine months ended February 23, 2025, the Company had revenues concentrations of 10% or greater from three customers, accounting for 43%, 20% and 11%. During the nine months ended February 25, 2024, the Company had revenues concentrations of 10% or greater from three customers, accounting for 40%, 19%, and 10%. Contract assets primarily relate to the Company’s unconditional right to consideration for work completed but not billed at the reporting date. Contract liabilities primarily relate to payments received from customers in advance of performance under a contract. The following table presents changes in contract assets and liabilities:
| Contract assets, current |  | Contract liabilities, current |  | Contract liabilities, noncurrent
Balance at May 26, 2024 | $ | 4,069 |  |  | $ | (2,113) |  |  | $ | (4,960) |
Changes to the beginning balance arising from: |  |  |  |  |
Amounts billed as accounts receivable as the result of rights to consideration becoming unconditional | (3,923) |  |  | — |  |  | — |
Recognition of revenue as the result of performance obligations satisfied | — |  |  | 2,113 |  |  | — |
Reclassification of scheduled satisfaction of performance obligations from noncurrent to current due to passage of time | — |  |  | — |  |  | 918 |
Net change to contract balances recognized after the beginning of the period due to amounts billed, recognition of revenue, changes in estimate, reclassifications from noncurrent to current, and interest from significant financing component | 6,004 |  |  | (2,565) |  |  | (377) |
Balance at February 23, 2025 | $ | 6,150 |  |  | $ | (2,565) |  |  | $ | (4,419) |

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent + Details
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