$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) |
FY 2019 (May 31, 2019) |
FY 2018 (May 31, 2018) |
FY 2016 (May 31, 2016) |
FY 2015 (May 31, 2015) |
FY 2014 (May 31, 2014) |
FY 2013 (May 31, 2013) |
FY 2012 (May 31, 2012) |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Revenue | $135.27M | $128.87M | $128.26M | $103.27M | $544.16M | $590.37M | $557.56M | $524.23M | $476.92M | $539.26M | $476.81M | $441.71M | $317.55M |
| Revenue Growth % | 5.0% | 0.5% | 24.2% | -81.0% | -7.8% | 5.9% | 6.4% | 9.9% | -11.6% | 13.1% | 7.9% | 39.1% | nan% |
| Cost of Revenue | $92.57M | $88.57M | $86.41M | $75.28M | $462.69M | $515.38M | $476.56M | $445.89M | $410.14M | $473.85M | $414.25M | $378.95M | $265.41M |
| Gross Profit | $42.70M | $40.30M | $41.85M | $27.98M | $81.47M | $74.99M | $81.00M | $78.34M | $70.96M | $65.41M | $62.56M | $62.76M | $52.14M |
| Gross Margin % | 31.6% | 31.3% | 32.6% | 27.1% | 15.0% | 12.7% | 14.5% | 14.9% | 14.9% | 12.1% | 13.1% | 14.2% | 16.4% |
| Operating Expenses | - | - | $50.69M | $49.78M | $94.97M | $113.53M | $75.53M | $64.75M | $90.74M | $46.95M | $42.37M | $37.89M | $37.56M |
| Research & Development | $8.04M | $8.26M | $8.57M | $8.74M | $10.22M | $11.10M | $11.47M | $12.80M | $7.23M | $6.99M | $7.20M | $9.29M | $9.62M |
| Selling General & Admin | $39.09M | $44.05M | $40.46M | $38.97M | $65.36M | $72.19M | $62.06M | $51.95M | $49.52M | $39.96M | $35.17M | $32.53M | $26.52M |
| Operating Income | $-8.73M | $-17.25M | $-8.84M | $-21.80M | $-13.50M | $-38.54M | $5.47M | $13.59M | $-19.79M | $18.46M | $20.19M | $24.87M | $14.58M |
| Operating Margin % | -6.5% | -13.4% | -6.9% | -21.1% | -2.5% | -6.5% | 1.0% | 2.6% | -4.1% | 3.4% | 4.2% | 5.6% | 4.6% |
| Interest Expense | - | - | $2.73M | $17.65M | $8.93M | $10.13M | $5.61M | $2.29M | $1.99M | $1.83M | $1.65M | $2.01M | $929.00K |
| Interest Income | - | - | - | $68.00K | $48.00K | $103.00K | $145.00K | $211.00K | $71.00K | $315.00K | $260.00K | $179.00K | $180.00K |
| Other Income/Expense | $310.00K | $-3.00K | $-3.05M | $-1.16M | $-11.69M | $-4.39M | $1.60M | $2.90M | $1.20M | $3.11M | $10.00M | $8.10M | $5.33M |
| Income Before Tax | $-32.08M | $-38.67M | $9.51M | $-63.93M | $-40.47M | $-51.31M | $3.64M | $16.40M | $-19.69M | - | - | $32.26M | $20.28M |
| Income Tax Expense | $401.00K | $43.00K | $183.00K | $308.00K | $-7.80M | $-13.12M | $1.52M | $-9.36M | $-7.70M | - | - | $9.45M | $-7.18M |
| Net Income | $-32.48M | $-38.72M | $12.01M | $-99.56M | $-32.66M | $-38.19M | $411.00K | $24.83M | $-11.64M | $13.72M | $19.34M | $22.59M | $12.70M |
| Net Margin % | -24.0% | -30.0% | 9.4% | -96.4% | -6.0% | -6.5% | 0.1% | 4.7% | -2.4% | 2.5% | 4.1% | 5.1% | 4.0% |
| Basic EPS | -1.04 | -1.27 | 0.40 | -3.32 | -1.12 | -1.31 | 0.01 | 0.90 | -0.43 | 0.50 | 0.72 | 0.87 | 0.49 |
| Diluted EPS | -1.04 | -1.27 | 0.32 | -3.32 | -1.12 | -1.31 | 0.01 | 0.89 | -0.43 | 0.50 | 0.71 | 0.85 | 0.49 |
| Basic Shares Outstanding | 37.4M | 34.8M | 30.5M | 30.0M | 29.3M | 29.2M | 28.4M | 27.5M | 27.0M | 27K | 26.6M | 25.8M | 26K |
| Diluted Shares Outstanding | 37.4M | 34.8M | 36.7M | 30.0M | 29.3M | 29.2M | 28.6M | 27.9M | 27.0M | 27K | 27.1M | 26.6M | 26K |
| 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) |
FY 2019 (May 31, 2019) |
FY 2018 (May 31, 2018) |
FY 2016 (May 31, 2016) |
FY 2015 (May 31, 2015) |
FY 2014 (May 31, 2014) |
FY 2013 (May 31, 2013) |
FY 2012 (May 31, 2012) |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Cash Equivalents | $8.27M | $8.46M | $19.09M | $1.29M | $360.00K | $1.08M | $2.90M | $9.89M | $14.13M | $14.24M | $13.72M | $22.18M |
| Short-term Investments | - | - | - | - | - | - | - | - | - | - | $1.54M | - |
| Accounts Receivable | - | $31.15M | $29.02M | $70.01M | $76.21M | $69.56M | $53.88M | $46.41M | $46.17M | $44.42M | $36.07M | $31.95M |
| Inventory | $32.29M | $39.98M | $40.84M | $69.66M | $66.31M | $54.13M | $31.82M | $25.54M | $25.03M | $24.73M | $24.11M | $22.01M |
| Other Current Assets | $1.45M | $1.44M | $4.92M | $7.35M | $14.23M | $8.26M | $7.96M | $4.64M | $5.31M | $3.17M | $2.86M | $2.58M |
| Total Current Assets | $85.68M | $81.03M | $93.88M | $148.32M | $157.11M | $133.04M | $97.06M | $86.48M | $93.20M | $90.93M | $85.66M | $81.16M |
| Property Plant & Equipment | $129.01M | $148.60M | $134.39M | $179.56M | $192.34M | $200.03M | $159.62M | $120.88M | $84.47M | $74.14M | $65.81M | $63.49M |
| Goodwill | $13.88M | $13.88M | $13.88M | $69.39M | $69.39M | $76.74M | $54.51M | $49.62M | $49.62M | $49.62M | $49.62M | $49.62M |
| Intangible Assets | $4.20M | $4.20M | $4.20M | - | - | - | - | - | - | - | - | - |
| Other Non-current Assets | $6.58M | $3.81M | $2.92M | $3.61M | $2.16M | $2.93M | $5.16M | $2.40M | $1.42M | $1.39M | $1.42M | $2.14M |
| Total Assets | $239.34M | $253.96M | $253.54M | $502.92M | $541.31M | $519.09M | $404.70M | $343.47M | $346.46M | $313.62M | $290.94M | $277.69M |
| Accounts Payable | $8.22M | $16.33M | $22.10M | $47.57M | $51.65M | $53.97M | $34.67M | $30.90M | $34.77M | $31.98M | $31.47M | $22.64M |
| Accrued Liabilities | $21.96M | $22.54M | - | - | - | - | - | - | - | - | - | - |
| Deferred Revenue | - | - | $4.05M | $1.13M | $352.00K | $499.00K | $2.62M | $832.00K | $843.00K | $1.25M | $1.25M | $162.00K |
| Other Current Liabilities | - | - | - | - | - | $1.74M | $5.28M | $1.74M | $1.69M | - | - | - |
| Total Current Liabilities | $30.18M | $38.87M | $39.29M | $101.89M | $164.39M | $137.09M | $88.38M | $56.52M | $56.16M | $48.39M | $50.75M | $66.68M |
| Long-term Debt | - | $100.82M | $84.26M | $164.90M | $101.36M | $87.19M | $37.36M | $46.61M | $34.17M | $28.32M | $34.37M | $40.30M |
| Deferred Tax Liabilities | - | $543.00K | $380.00K | $6.14M | $13.59M | $19.39M | - | - | - | - | - | - |
| Other Non-current Liabilities | $9.74M | $5.09M | $3.11M | $3.60M | $4.55M | $1.74M | - | - | $1.69M | $2.02M | $1.35M | $1.11M |
| Total Liabilities | $191.91M | $200.06M | $218.46M | $300.14M | $310.27M | $248.95M | $152.14M | $131.12M | $126.36M | $108.86M | $110.53M | $126.13M |
| Common Stock | $37.00K | $30.00K | $30.00K | $29.00K | $29.00K | $29.00K | $28.00K | $27.00K | $27.00K | $27.00K | $26.00K | $26.00K |
| Retained Earnings | $-205.24M | $-166.52M | $-178.54M | $38.58M | $71.25M | $109.71M | $109.30M | $73.46M | $85.10M | $71.55M | $52.41M | $29.82M |
| Total Stockholders Equity | $1.34M | $11.31M | $-4.23M | $202.78M | $231.04M | $270.14M | $252.56M | $210.73M | $218.43M | $203.07M | $178.69M | $149.74M |
| Total Liabilities & Equity | $239.34M | $253.96M | $253.54M | $502.92M | $541.31M | $519.09M | $404.70M | $343.47M | $346.46M | $313.62M | $290.94M | $277.69M |
| 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) |
FY 2019 (May 31, 2019) |
FY 2018 (May 31, 2018) |
FY 2016 (May 31, 2016) |
FY 2015 (May 31, 2015) |
FY 2014 (May 31, 2014) |
FY 2013 (May 31, 2013) |
FY 2012 (May 31, 2012) |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | $-55.28M | $-38.72M | $12.01M | $-99.56M | $-32.66M | $-38.19M | $411.00K | $24.83M | $-11.64M | $13.72M | $19.34M | $22.59M | $12.70M |
| Depreciation & Amortization | $14.04M | $8.03M | $8.86M | $13.29M | $19.87M | $18.84M | $15.23M | $12.41M | $9.39M | $7.09M | $7.11M | $7.29M | $5.62M |
| Stock-based Compensation | $18.34M | $10.16M | $6.20M | $3.61M | $3.36M | $2.42M | $3.56M | $4.40M | $3.46M | $1.58M | $1.36M | $1.70M | $1.87M |
| Deferred Income Tax | - | - | - | - | - | - | - | - | $-9.79M | $4.15M | $5.61M | $6.51M | $3.28M |
| Change in Receivables | - | $2.26M | $3.26M | $-10.82M | $-5.78M | $6.64M | $8.86M | $7.31M | $-73.00K | $1.75M | $7.99M | $4.12M | $3.25M |
| Change in Inventory | $-10.42M | $-7.69M | $-862.00K | $14.81M | $3.35M | $12.18M | $10.93M | $6.53M | $508.00K | $292.00K | $622.00K | $2.10M | $-441.00K |
| Change in Payables | $1.38M | $-1.67M | $-6.68M | $16.04M | $-5.98M | $-1.25M | $19.12M | $4.96M | $-4.11M | $2.78M | $-50.00K | $8.83M | $-544.00K |
| Operating Cash Flow | $-5.20M | $-206.00K | $-217.00K | $-17.44M | $15.02M | $-17.04M | $16.02M | $19.78M | $20.76M | - | - | $21.23M | $22.18M |
| Capital Expenditure | $21.01M | $13.41M | $18.39M | - | $23.77M | $26.69M | $44.73M | $33.59M | $40.87M | $17.51M | $14.89M | $8.88M | $5.37M |
| Acquisitions | - | - | - | - | - | - | $59.87M | - | - | - | - | - | $66.83M |
| Purchases of Investments | - | - | - | - | - | - | - | - | - | $18.00M | - | - | $30.72M |
| Sales of Investments | - | - | - | - | - | - | - | - | - | - | - | - | $31.10M |
| Investing Cash Flow | $-14.01M | $-6.42M | $-17.92M | $-4.81M | $-10.86M | $-23.89M | $-96.80M | $-35.59M | $-40.42M | - | - | $-10.42M | $-44.07M |
| Debt Repayment | - | - | - | $123.69M | $114.13M | $11.12M | $5.09M | $5.08M | $14.65M | $6.87M | $5.93M | $7.01M | $4.33M |
| Stock Issued | $47.69M | $23.85M | - | $4.82M | - | $30.00K | $327.00K | $56.00K | $322.00K | $122.00K | $2.30M | $3.42M | $61.00K |
| Stock Repurchased | - | - | - | - | - | - | - | - | - | - | - | - | $5.01M |
| Financing Cash Flow | $18.64M | $6.42M | $7.51M | $39.70M | $-3.42M | $40.02M | $79.03M | $13.29M | $15.42M | - | - | $-19.27M | $35.93M |
| Net Change in Cash | $-567.00K | $-197.00K | $-10.63M | $17.45M | $742.00K | $-912.00K | $-1.75M | $-2.52M | $-4.23M | $-116.00K | $525.00K | $-8.46M | $14.04M |
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.