$210.43M
Revenue
$-119.47M
Net Income
31.48%
Gross Margin
-28.97%
Op. Margin
$-2.03B
Free Cash Flow
| Breakdown | TTM (Nov 30, 2025) |
FY 2025 (May 31, 2025) |
FY 2024 (May 31, 2024) |
FY 2023 (May 31, 2023) |
FY 2022 (May 31, 2022) |
|---|---|---|---|---|---|
| Total Revenue | $210.43M | $144.19M | $165.57M | $55.39M | $8.55M |
| Revenue Growth % | 45.9% | -12.9% | 198.9% | 547.9% | nan% |
| Cost of Revenue | $144.19M | $101.45M | $148.34M | $44.39M | $9.51M |
| Gross Profit | $66.24M | - | - | $11.00M | $-957.00K |
| Gross Margin % | 31.5% | nan% | nan% | 19.9% | -11.2% |
| Operating Expenses | $271.39M | $161.04M | $264.60M | $55.06M | $19.94M |
| Selling General & Admin | $125.08M | $83.06M | $98.46M | $55.06M | $19.94M |
| Operating Income | $-60.96M | $-16.84M | $-99.02M | $-44.05M | $-20.90M |
| Operating Margin % | -29.0% | -11.7% | -59.8% | -79.5% | -244.4% |
| Interest Expense | $92.39M | $62.71M | $26.83M | $1.98M | $112.00K |
| Other Income/Expense | - | - | - | $-2.07M | $-1.05M |
| Income Before Tax | $-68.05M | $-158.23M | $-149.57M | $-46.13M | $-21.95M |
| Income Tax Expense | $124.00K | $102.00K | $96.00K | $-523.00K | $540.00K |
| Net Income | $-119.47M | $-231.06M | $-149.27M | $-44.65M | $-23.52M |
| Net Margin % | -56.8% | -160.2% | -90.2% | -80.6% | -275.1% |
| Basic EPS | nan | -1.16 | -1.31 | -0.49 | -0.41 |
| Diluted EPS | nan | -1.16 | -1.31 | -0.49 | -0.41 |
| Basic Shares Outstanding | 277.4M | 201.2M | 114.1M | 94.0M | 57.1M |
| Diluted Shares Outstanding | 277.4M | 201.2M | 114.1M | 94.0M | 57.1M |
| Breakdown | FY 2025 (May 31, 2025) |
FY 2024 (May 31, 2024) |
FY 2023 (May 31, 2023) |
FY 2022 (May 31, 2022) |
|---|---|---|---|---|
| Cash & Cash Equivalents | $41.55M | $3.34M | $29.00M | $38.80M |
| Accounts Receivable | $3.04M | $3.85M | $82.00K | $227.00K |
| Other Current Assets | $9.43M | $1.34M | $16.68M | $1.34M |
| Total Current Assets | $430.59M | $30.26M | $45.76M | $40.36M |
| Property Plant & Equipment | $1.28B | $340.38M | $195.59M | $64.26M |
| Total Assets | $1.87B | $762.87M | $263.96M | $119.98M |
| Accounts Payable | $247.53M | $116.12M | $6.45M | - |
| Accrued Liabilities | $29.55M | $26.28M | $9.96M | - |
| Deferred Revenue | - | - | $48.69M | $3.88M |
| Other Current Liabilities | $19.43M | $96.00K | - | $16.00K |
| Total Current Liabilities | $558.14M | $385.54M | $115.46M | $29.00M |
| Deferred Tax Liabilities | - | - | - | $540.00K |
| Other Non-current Liabilities | - | - | $1.00M | - |
| Total Liabilities | $1.24B | $638.04M | $194.28M | $40.74M |
| Common Stock | $230.00K | $144.00K | $101.00K | $98.00K |
| Retained Earnings | $-481.06M | $-249.99M | $-100.72M | $-56.07M |
| Treasury Stock | - | - | $62.00K | $62.00K |
| Total Stockholders Equity | $497.69M | $124.83M | $59.52M | $72.26M |
| Total Liabilities & Equity | $1.87B | $762.87M | $263.96M | $119.98M |
| Breakdown | TTM (Nov 30, 2025) |
FY 2025 (May 31, 2025) |
FY 2024 (May 31, 2024) |
FY 2023 (May 31, 2023) |
FY 2022 (May 31, 2022) |
|---|---|---|---|---|---|
| Net Income | $-279.37M | $-231.06M | $-149.27M | $-44.65M | $-23.52M |
| Depreciation & Amortization | - | - | - | $7.27M | $1.12M |
| Stock-based Compensation | $82.76M | $22.70M | $17.36M | $32.07M | $12.34M |
| Deferred Income Tax | - | - | - | $-540.00K | $540.00K |
| Change in Receivables | $48.00M | $2.93M | $3.77M | $-145.00K | $227.00K |
| Change in Payables | $-315.04M | $-78.26M | $41.84M | $-13.75M | - |
| Operating Cash Flow | $-295.29M | $-115.40M | $13.79M | $58.73M | $-872.00K |
| Capital Expenditure | $1.73B | $681.60M | $141.81M | $128.72M | $58.25M |
| Purchases of Investments | - | $4.87M | $390.00K | $810.00K | - |
| Investing Cash Flow | $-1.74B | $-667.65M | $-172.44M | $-132.09M | $-45.87M |
| Stock Issued | $584.32M | $191.59M | $130.85M | - | - |
| Stock Repurchased | - | $31.34M | - | - | - |
| Financing Cash Flow | $4.29B | $874.69M | $146.76M | $70.63M | $81.29M |
| Net Change in Cash | $2.25B | $91.63M | $-11.88M | $-2.73M | $34.55M |
SEC Filing Format - Data shown as it appears in the Q2 2026 (10-Q) filing
Period ended: Nov 30, 2025
Condensed Consolidated Statements of Operations
| Description | Nov 30, 2025 | Nov 30, 2025 | ||
|---|---|---|---|---|
| Current | Prior Year | Current YTD | Prior Year YTD | |
| Total Revenue | $126.59M | $36.16M | $190.81M | $71.01M |
| Cost of Revenue | $100.55M | $22.66M | $156.16M | $45.40M |
| Operating Expenses | $157.55M | $48.97M | $244.05M | $58.52M |
| Selling General & Admin | $56.99M | $25.97M | $86.14M | $36.97M |
| Operating Income | $-30.96M | $-12.80M | $-53.25M | $12.49M |
| Interest Expense | $11.48M | $2.93M | $20.64M | $33.14M |
| Income Before Tax | $-26.55M | $-128.36M | $-52.79M | $-112.45M |
| Income Tax Expense | $15.00K | $1.00K | $23.00K | $1.00K |
| Net Income | $-14.45M | $-138.73M | $-31.38M | $-142.97M |
| Basic EPS | -0.07 | -0.66 | -0.14 | -0.80 |
| Diluted EPS | -0.07 | -0.66 | -0.14 | -0.80 |
| Basic Shares Outstanding | $277.42M | $209.56M | $266.60M | $179.12M |
| Diluted Shares Outstanding | $277.42M | $209.56M | $266.60M | $179.12M |
Condensed Consolidated Balance Sheets
| Description | Nov 30, 2025 | May 31, 2025 |
|---|---|---|
| Cash & Cash Equivalents | $1.91B | $41.55M |
| Accounts Receivable | $13.35M | $3.04M |
| Other Current Assets | $6.02M | $1.47M |
| Total Current Assets | $2.72B | $430.59M |
| Property Plant & Equipment | $2.00B | $1.24B |
| Total Assets | $5.23B | $1.87B |
| Accounts Payable | $92.91M | $247.53M |
| Accrued Liabilities | $207.45M | $29.55M |
| Deferred Revenue | $29.44M | - |
| Other Current Liabilities | $38.31M | $19.43M |
| Total Current Liabilities | $563.40M | $558.14M |
| Total Liabilities | $3.16B | $1.24B |
| Common Stock | $287.00K | $230.00K |
| Retained Earnings | $-512.38M | $-481.06M |
| Total Stockholders Equity | $1.45B | $497.69M |
| Total Liabilities & Equity | $5.23B | $1.87B |
Condensed Consolidated Statements of Cash Flows
| Description | Nov 30, 2025 | Nov 30, 2025 | ||
|---|---|---|---|---|
| Current | Prior Year | Current YTD | Prior Year YTD | |
| Net Income | $-14.45M | $-138.73M | $-31.38M | $-142.97M |
| Depreciation & Amortization | $8.59M | $4.70M | $12.74M | $8.86M |
| Stock-based Compensation | - | - | $44.59M | $542.00K |
| Change in Receivables | - | - | $15.54M | $8.47M |
| Change in Payables | - | - | $-159.00M | $-82.85M |
| Operating Cash Flow | - | - | $-97.87M | $-128.15M |
| Capital Expenditure | - | - | $801.49M | $225.85M |
| Purchases of Investments | - | - | $17.00M | $1.42M |
| Investing Cash Flow | - | - | $-818.49M | $-207.54M |
| Stock Issued | - | - | $196.37M | $191.59M |
| Stock Repurchased | - | - | - | $31.34M |
| Financing Cash Flow | - | - | $3.09B | $618.58M |
| Net Change in Cash | - | - | $2.17B | $282.89M |
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.