$135.27M
Revenue
$-32.48M
Net Income
31.57%
Gross Margin
-6.45%
Op. Margin
$-26.21M
Free Cash Flow
| Breakdown | TTM (Sep 30, 2025) |
FY 2025 (May 31, 2025) |
FY 2024 (May 31, 2024) |
FY 2023 (May 31, 2023) |
FY 2021 (May 31, 2021) |
FY 2020 (May 31, 2020) |
|---|---|---|---|---|---|---|
| Total Revenue | $135.27M | $128.87M | $128.26M | $103.27M | $544.16M | $590.37M |
| Revenue Growth % | 5.0% | 0.5% | 24.2% | -81.0% | -7.8% | nan% |
| Cost of Revenue | $92.57M | $88.57M | $86.41M | $75.28M | $462.69M | $515.38M |
| Gross Profit | $42.70M | $40.30M | $41.85M | $27.98M | $81.47M | $74.99M |
| Gross Margin % | 31.6% | 31.3% | 32.6% | 27.1% | 15.0% | 12.7% |
| Operating Expenses | - | - | $50.69M | $49.78M | $94.97M | $113.53M |
| Research & Development | $8.04M | $8.26M | $8.57M | $8.74M | $10.22M | $11.10M |
| Selling General & Admin | $39.09M | $44.05M | $40.46M | $38.97M | $65.36M | $72.19M |
| Operating Income | $-8.73M | $-17.25M | $-8.84M | $-21.80M | $-13.50M | $-38.54M |
| Operating Margin % | -6.5% | -13.4% | -6.9% | -21.1% | -2.5% | -6.5% |
| Interest Expense | - | - | $2.73M | $17.65M | $8.93M | $10.13M |
| Interest Income | - | - | - | $68.00K | $48.00K | $103.00K |
| Other Income/Expense | $310.00K | $-3.00K | $-3.05M | $-1.16M | $-11.69M | $-4.39M |
| Income Before Tax | $-32.08M | $-38.67M | $9.51M | $-63.93M | $-40.47M | $-51.31M |
| Income Tax Expense | $401.00K | $43.00K | $183.00K | $308.00K | $-7.80M | $-13.12M |
| Net Income | $-32.48M | $-38.72M | $12.01M | $-99.56M | $-32.66M | $-38.19M |
| Net Margin % | -24.0% | -30.0% | 9.4% | -96.4% | -6.0% | -6.5% |
| Basic EPS | -1.04 | -1.27 | 0.40 | -3.32 | -1.12 | -1.31 |
| Diluted EPS | -1.04 | -1.27 | 0.32 | -3.32 | -1.12 | -1.31 |
| Basic Shares Outstanding | 37.4M | 34.8M | 30.5M | 30.0M | 29.3M | 29.2M |
| Diluted Shares Outstanding | 37.4M | 34.8M | 36.7M | 30.0M | 29.3M | 29.2M |
| Breakdown | FY 2025 (May 31, 2025) |
FY 2024 (May 31, 2024) |
FY 2023 (May 31, 2023) |
FY 2021 (May 31, 2021) |
FY 2020 (May 31, 2020) |
|---|---|---|---|---|---|
| Cash & Cash Equivalents | $8.27M | $8.46M | $19.09M | $1.29M | $360.00K |
| Accounts Receivable | - | $31.15M | $29.02M | $70.01M | $76.21M |
| Inventory | $32.29M | $39.98M | $40.84M | $69.66M | $66.31M |
| Other Current Assets | $1.45M | $1.44M | $4.92M | $7.35M | $14.23M |
| Total Current Assets | $85.68M | $81.03M | $93.88M | $148.32M | $157.11M |
| Property Plant & Equipment | $129.01M | $148.60M | $134.39M | $179.56M | $192.34M |
| Goodwill | $13.88M | $13.88M | $13.88M | $69.39M | $69.39M |
| Intangible Assets | $4.20M | $4.20M | $4.20M | - | - |
| Other Non-current Assets | $6.58M | $3.81M | $2.92M | $3.61M | $2.16M |
| Total Assets | $239.34M | $253.96M | $253.54M | $502.92M | $541.31M |
| Accounts Payable | $8.22M | $16.33M | $22.10M | $47.57M | $51.65M |
| Accrued Liabilities | $21.96M | $22.54M | - | - | - |
| Deferred Revenue | - | - | $4.05M | $1.13M | $352.00K |
| Total Current Liabilities | $30.18M | $38.87M | $39.29M | $101.89M | $164.39M |
| Long-term Debt | - | $100.82M | $84.26M | $164.90M | $101.36M |
| Deferred Tax Liabilities | - | $543.00K | $380.00K | $6.14M | $13.59M |
| Other Non-current Liabilities | $9.74M | $5.09M | $3.11M | $3.60M | $4.55M |
| Total Liabilities | $191.91M | $200.06M | $218.46M | $300.14M | $310.27M |
| Common Stock | $37.00K | $30.00K | $30.00K | $29.00K | $29.00K |
| Retained Earnings | $-205.24M | $-166.52M | $-178.54M | $38.58M | $71.25M |
| Total Stockholders Equity | $1.34M | $11.31M | $-4.23M | $202.78M | $231.04M |
| Total Liabilities & Equity | $239.34M | $253.96M | $253.54M | $502.92M | $541.31M |
| Breakdown | TTM (Sep 30, 2025) |
FY 2025 (May 31, 2025) |
FY 2024 (May 31, 2024) |
FY 2023 (May 31, 2023) |
FY 2021 (May 31, 2021) |
FY 2020 (May 31, 2020) |
|---|---|---|---|---|---|---|
| Net Income | $-55.28M | $-38.72M | $12.01M | $-99.56M | $-32.66M | $-38.19M |
| Depreciation & Amortization | $14.04M | $8.03M | $8.86M | $13.29M | $19.87M | $18.84M |
| Stock-based Compensation | $18.34M | $10.16M | $6.20M | $3.61M | $3.36M | $2.42M |
| Change in Receivables | - | $2.26M | $3.26M | $-10.82M | $-5.78M | $6.64M |
| Change in Inventory | $-10.42M | $-7.69M | $-862.00K | $14.81M | $3.35M | $12.18M |
| Change in Payables | $1.38M | $-1.67M | $-6.68M | $16.04M | $-5.98M | $-1.25M |
| Operating Cash Flow | $-5.20M | $-206.00K | $-217.00K | $-17.44M | $15.02M | $-17.04M |
| Capital Expenditure | $21.01M | $13.41M | $18.39M | - | $23.77M | $26.69M |
| Acquisitions | - | - | - | - | - | - |
| Investing Cash Flow | $-14.01M | $-6.42M | $-17.92M | $-4.81M | $-10.86M | $-23.89M |
| Debt Repayment | - | - | - | $123.69M | $114.13M | $11.12M |
| Stock Issued | $47.69M | $23.85M | - | $4.82M | - | $30.00K |
| Financing Cash Flow | $18.64M | $6.42M | $7.51M | $39.70M | $-3.42M | $40.02M |
| Net Change in Cash | $-567.00K | $-197.00K | $-10.63M | $17.45M | $742.00K | $-912.00K |
SEC Filing Format - Data shown as it appears in the Q1 2026 (10-Q) filing
Period ended: Sep 30, 2025
Condensed Consolidated Statements of Operations
| Description | Sep 30, 2025 | |
|---|---|---|
| Current | Prior Year | |
| Total Revenue | $31.11M | $24.70M |
| Cost of Revenue | $23.32M | $19.32M |
| Gross Profit | $7.79M | $5.39M |
| Research & Development | $1.96M | $2.19M |
| Selling General & Admin | $8.89M | $14.79M |
| Operating Income | $-3.07M | $-11.58M |
| Interest Income | $58.00K | $15.00K |
| Other Income/Expense | $110.00K | $-203.00K |
| Income Before Tax | $-9.66M | $-16.25M |
| Income Tax Expense | $333.00K | $-25.00K |
| Net Income | $-9.99M | $-16.23M |
| Basic EPS | -0.29 | -0.53 |
| Diluted EPS | -0.29 | -0.53 |
| Basic Shares Outstanding | $37.40M | $30.86M |
| Diluted Shares Outstanding | $37.40M | $30.86M |
Condensed Consolidated Balance Sheets
| Description | Sep 30, 2025 | May 31, 2025 |
|---|---|---|
| Cash & Cash Equivalents | $18.86M | $8.27M |
| Inventory | $33.80M | $32.29M |
| Other Current Assets | $2.14M | $1.45M |
| Total Current Assets | $83.93M | $85.68M |
| Property Plant & Equipment | $128.57M | $129.01M |
| Goodwill | $13.88M | $13.88M |
| Intangible Assets | $4.20M | $4.20M |
| Other Non-current Assets | $4.62M | $6.58M |
| Total Assets | $235.20M | $239.34M |
| Accounts Payable | $10.12M | $8.22M |
| Accrued Liabilities | $19.84M | $21.96M |
| Total Current Liabilities | $29.96M | $30.18M |
| Other Non-current Liabilities | $7.96M | $9.74M |
| Total Liabilities | $198.42M | $191.91M |
| Common Stock | $37.00K | $37.00K |
| Retained Earnings | $-218.09M | $-205.24M |
| Total Stockholders Equity | $-10.54M | $1.34M |
| Total Liabilities & Equity | $235.20M | $239.34M |
Condensed Consolidated Statements of Cash Flows
| Description | Sep 30, 2025 | |
|---|---|---|
| Current | Prior Year | |
| Net Income | $-9.99M | $-16.23M |
| Depreciation & Amortization | $1.98M | $1.99M |
| Stock-based Compensation | $2.39M | $2.42M |
| Change in Receivables | $4.58M | $-6.08M |
| Change in Inventory | $-1.97M | $1.66M |
| Change in Payables | $2.26M | $3.63M |
| Operating Cash Flow | $1.76M | $-613.00K |
| Capital Expenditure | $1.74M | $3.42M |
| Investing Cash Flow | $-1.74M | $-3.42M |
| Stock Issued | - | $1.00K |
| Financing Cash Flow | $-1.39M | $1.09M |
| Net Change in Cash | $-1.36M | $-2.94M |
All values are in USD (United States Dollars). Data is sourced from SEC EDGAR 10-K filings.
Annual data represents full fiscal year results. FY = Fiscal Year ending.