Quarterly report [Sections 13 or 15(d)]

Fair Value Measurement

v3.25.4
Fair Value Measurement
6 Months Ended
Nov. 30, 2025
Fair Value Measurement  
Fair Value Measurement

Note 9. Fair Value Measurement

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The following table provides information by level for assets and liabilities that are measured at fair value on a recurring basis.

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(in thousands)

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November 30, 2025

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May 31, 2025

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level

Assets:

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Cash

$

1,286

$

534

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Level 1

Money market funds

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680

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11,369

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Level 1

U.S. treasuries

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3,016

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—

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Level 1

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Liabilities:

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​

​

​

​

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Common stock

$

(16,087)

$

—

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Level 1

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Our investments in money market funds, U.S. treasuries, and common stock are classified within Level 1 of the fair value hierarchy because they are valued using quoted market prices.