Segment reporting for single reportable segment
The following table presents the components of net income or loss, which is the measure of profit or loss used for our single reportable segment:
Year ended
May 25, 2025May 26, 2024
Revenues
$128,867 $128,261 
Personnel costs(1)
50,377 53,292 
Materials and non-depreciation overhead(2)
51,018 48,540 
Depreciation and amortization
8,027 7,954 
Stock-based compensation
10,158 6,201 
Reorganization costs
10,481 9,796 
Loss on sale or disposal of assets
7,776 18 
All other operating expenses(3)
8,275 11,304 
Interest expense, net21,835 18,090 
Change in fair value of debt derivative liability(409)(39,500)
Other expense, net
3,052 
Income tax expense
43 183 
Income from discontinued operations
— (2,682)
Net (loss) income
$(38,717)$12,013 
(1)Includes all wages and salary, bonus, employer taxes, and employee benefit plan expenses
(2)Represents cost of goods sold, excluding direct labor and all personnel cost and depreciation allocations
(3)Includes expenses for accounting, legal and other professional services, software licensing, insurance costs, public company costs and board fees.
For the fiscal year ended May 25, 2025, the Company earned revenue of approximately 60% in the United States, 20% in Belgium, 10% in Netherlands and 10% in all other countries combined. For the fiscal year ended May 26, 2024, the Company earned revenue of approximately 65% in the United States, 10% in Belgium, 5% in Netherlands and 20% in all other countries combined.
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Historical Timeline

Fiscal YearFiled
2025Aug 7, 2025Showing above
2023Mar 20, 2024
2022Sep 14, 2022
2021Jul 29, 2021
2020Aug 14, 2020
2019Aug 1, 2019
2018Aug 9, 2018
2017Aug 11, 2017
2016Aug 1, 2016

About Segments Disclosures

Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.

Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.