XML 15 R4.htm IDEA: XBRL DOCUMENT v3.25.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Feb. 23, 2025
Feb. 25, 2024
Feb. 23, 2025
Feb. 25, 2024
Revenues $ 35,154 $ 35,704 $ 92,423 $ 90,375
Cost of goods sold 25,309 23,810 66,107 65,797
Gross profit 9,845 11,894 26,316 24,578
Research and development expenses 2,045 2,170 6,155 6,414
Selling, general, and administrative expenses 10,093 9,848 35,066 28,237
Loss on sale or disposal of assets, net of portion classified as cost of sales 6,851 0 6,895 2
restructuring costs (recovery) (115) 771 772 918
Operating loss (9,029) (895) (22,572) (10,993)
Change in fair value of debt derivative liability, related party (600) 21,000 1,500 41,900
Other income (expense), net 333 (814) (174) (1,950)
(Loss) income from continuing operations before income taxes (14,777) 15,002 (37,560) 16,657
Income tax benefit (expense) 8 (217) (10) (240)
(Loss) income from continuing operations (14,769) 14,785 (37,570) 16,417
Income from discontinued operations 0 847 0 2,679
Net (loss) income (14,769) 15,632 (37,570) 19,096
Preferred stock dividends (2,466) 0 (2,466) 0
Accretion of preferred stock to redemption value (144) 0 (144) 0
Fair value of conversion ratio improvement to preferred stockholders 0 0 (2,132) 0
(Loss) income available to common stockholders $ (17,379) $ 15,632 $ (42,312) $ 19,096
Basic income or loss per share:        
(Loss) income from continuing operations available to common stockholders (in dollars per share) $ (0.47) $ 0.48 $ (1.24) $ 0.54
Income from discontinued operations (in dollars per share) 0 0.03 0 0.09
Basic (loss) income per share (in dollars per share) (0.47) 0.51 (1.24) 0.63
Diluted income or loss per share:        
(Loss) income from continuing operations available to common stockholders (in dollars per share) (0.47) 0.40 (1.24) 0.45
Income from discontinued operations (in dollars per share) 0 0.02 0 0.07
Diluted (loss) income per share (in dollars per share) $ (0.47) $ 0.42 $ (1.24) $ 0.52
Weighted average shares outstanding:        
Basic (in shares) 37,020,570 30,487,596 34,080,062 30,449,673
Diluted (in shares) 37,020,570 36,608,904 34,080,062 36,468,871
Nonrelated party        
Revenues $ 16,233 $ 17,054 $ 52,560 $ 54,528
Interest expense, net (641) (921) (2,558) (2,546)
Related party        
Revenues 18,921 18,650 39,863 35,847
Interest expense, net $ (4,840) $ (3,368) $ (13,756) $ (9,754)