0001005286-24-000030 | 10-K | XBRL Viewer | Lifecore Biomedical INC DE

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Correction of Errors in Previously Reported Fiscal Year 2022 and 2021 Annual Financial Statements - Balance Sheet (Details) - USD ($) $ / shares in Units, $ in Thousands	May 28, 2023	Feb. 26, 2023	Nov. 27, 2022	Aug. 28, 2022	May 29, 2022	Feb. 27, 2022	Nov. 28, 2021	Aug. 29, 2021	May 30, 2021	Feb. 28, 2021	Nov. 29, 2020	Aug. 30, 2020	May 31, 2020
Current Assets:
Cash and cash equivalents	$ 19,091	$ 2,950	$ 5,938	$ 2,540	$ 991	$ 1,101	$ 609	$ 939	$ 763	$ 1,853	$ 2,476	$ 439
Accounts receivable, less allowance for credit losses	29,024	30,974	27,458	31,929	38,314	39,747	27,495	26,216	31,591	28,863	29,600	27,172
Inventories, net	40,841	42,042	38,420	36,154	36,000	34,758	39,715	36,869	33,930	31,441	32,404	28,909
Prepaid expenses and other current assets	4,919	1,473	1,673	1,986	2,053	1,818	1,441	1,324	1,502	5,946	6,795	13,934
Current assets, discontinued operations	0	5,687	45,592	36,896	39,310	49,716	81,293	73,318	77,515	90,219	80,554	74,513
Total Current Assets	93,875	83,126	119,081	109,505	116,668	127,140	150,553	138,666	145,301	158,322	151,829	144,967
Investment in non-public company									44,769	45,100	45,100	55,100
Property and equipment, net	134,390	126,326	120,187	118,190	118,670	110,503	108,761	108,400	107,131	95,789	94,988	93,764
Operating lease right-of-use assets	4,282	5,100	5,251	5,396	5,553	5,703	7,487	7,696	13,536	15,403	12,691	13,359
Goodwill	13,881	13,881	13,881	13,881	13,881	13,881	13,881	13,881	13,881	13,881	13,881	13,881
Trademarks/tradenames, net	4,200	4,200	4,200	4,200	4,200	4,200	4,200	4,200	4,200	4,200	4,200	4,200
Customer relationships			0	0	0	51	128	205	282	359	436	514
Other assets	2,917	2,699	2,492	2,680	2,889	2,935	3,083	3,251	3,418	3,375	1,132	1,193
Non-current Assets, discontinued operations	0	1,324	10,881	12,528	12,842	59,829	133,215	168,426	169,367	170,433	173,812	176,065
Total Assets	253,545	236,656	275,973	266,380	274,703	324,242	421,308	444,725	501,885	506,862	498,069	503,043
Current Liabilities:
Accounts payable	22,097	14,657	13,301	9,623	12,952	13,294	8,655	8,606	11,622	8,887	7,985	6,351
Accrued compensation	4,145	6,733	4,104	5,921	8,941	9,418	3,256	4,735	7,500	6,424	4,128	3,974
Other accrued liabilities	7,142	11,626	9,365	6,622	6,479	12,993	3,880	4,713	3,009	5,776	6,115	3,669
Current portion of lease liabilities	1,270	1,216	4,334	4,352	4,368	4,395	1,218	1,236	977	1,005	710	711
Deferred revenue	4,055	2,711	731	803	919	1,614	967	1,069	287	740	297	0
Line of credit	0		48,000	44,000	40,000	39,900	42,000	32,000	29,000	41,000	77,000	69,000
Current portion of long-term debt, net	580		98,953	98,569	98,178						11,189	11,027
Current liabilities, discontinued operations	0	458	16,832	8,845	4,744	8,790	62,416	51,290	49,457	61,481	66,454	58,961
Total Current Liabilities	39,289	37,401	195,620	178,735	176,581	90,404	122,392	103,649	101,852	125,313	173,878	153,693
Long-term debt, net	84,256	98,900			0	79,598	124,194	123,833	164,902	145,051	82,000	93,919
Long-term lease liabilities	9,709	9,998	7,020	7,294	7,658	7,848	11,344	11,655	17,375	17,919	15,475	16,016
Deferred taxes, net	380	80	10	124	126	796	1,201	3,949	5,975	6,104	6,631	8,877
Other non-current liabilities	3,114	203	201	199	190	544	1,932	2,376	2,870	3,032	4,024	4,138
Non-current liabilities, discontinued operations	0	518	1,979	2,153	2,325	2,494	4,821	6,146	6,965	7,240	8,064	7,861
Total Liabilities	218,457	163,100	204,830	188,505	186,880	181,684	265,884	251,608	299,939	304,659	290,072	284,504
Stockholders’ (Deficit) Equity:
Common stock, $0.001 par value; 50,000 shares authorized	30	30		30	30	29	29	29	29	29	29	29
Additional paid-in capital	174,276	174,243	173,858	168,070	167,352	166,943	166,327	165,725	165,533	164,865	164,068	163,388
Accumulated deficit	(178,536)	(139,252)	(102,745)	(89,939)	(78,973)	(23,702)	(10,116)	28,355	37,742	39,025	46,003	57,626
Accumulated other comprehensive loss	0			(286)	(586)	(712)	(816)	(992)	(1,358)	(1,716)	(2,103)	(2,504)
Total Stockholders’ (Deficit) Equity	(4,230)	35,021	71,143	77,875	87,823	142,558	155,424	193,117	201,946	202,203	207,997	218,539	$ 229,835
Total Liabilities, Convertible Preferred Stock and Stockholders’ (Deficit) Equity	$ 253,545	236,656	275,973	266,380	$ 274,703	324,242	421,308	444,725	501,885	506,862	498,069	503,043
Common stock, shares authorized (in shares)	50,000,000				50,000,000
Common stock, par value (in dollars per share)	$ 0.001				$ 0.001
As Reported
Current Assets:
Cash and cash equivalents		2,950	6,830	4,222	$ 1,643	1,854	1,091	1,447	1,159	2,248	2,491	589
Accounts receivable, less allowance for credit losses		32,371	35,689	40,934	48,172	49,559	65,276	61,956	41,430	69,577	66,545	65,027
Inventories, net		48,696	77,524	64,285	66,845	73,700	79,433	69,415	63,076	76,779	71,202	59,998
Prepaid expenses and other current assets		4,422	7,049	7,157	7,052	6,924	8,721	9,591	5,038	14,323	13,949	21,753
Current assets, discontinued operations		0	0	0	0	0	0	0	37,618	0	0	0
Total Current Assets		88,439	127,092	116,598	123,712	132,037	154,521	142,409	148,321	162,927	154,187	147,367
Investment in non-public company									0	45,100	45,100	56,900
Property and equipment, net		120,799	118,852	117,551	118,531	123,209	179,929	180,460	120,286	168,693	170,973	171,413
Operating lease right-of-use assets		5,924	7,951	8,229	8,580	8,796	11,979	14,299	17,098	23,528	21,070	22,109
Goodwill		13,881	13,881	13,881	13,881	33,916	37,329	69,386	33,916	69,386	69,386	69,386
Trademarks/tradenames, net		4,400	7,400	8,700	8,700	17,100	25,328	25,328	17,100	25,328	25,328	25,328
Customer relationships			1,292	1,346	1,400	7,476	9,799	10,295	8,532	11,288	11,784	12,281
Other assets		2,710	2,605	2,793	3,002	3,048	3,239	3,442	3,531	3,573	1,332	1,396
Non-current Assets, discontinued operations		0	0	0	0	0	0	0	154,140	0	0	0
Total Assets		236,153	279,073	269,098	277,806	325,582	422,124	445,619	502,924	509,823	499,160	506,180
Current Liabilities:
Accounts payable		14,762	27,971	16,366	15,802	20,014	59,098	46,355	16,298	56,323	60,892	50,722
Accrued compensation		6,733	4,602	6,373	9,238	9,757	7,214	9,173	7,754	11,218	7,689	8,895
Other accrued liabilities		12,012	10,426	7,832	7,647	14,083	9,804	10,855	3,955	11,186	12,715	9,607
Current portion of lease liabilities		1,455	5,013	5,021	5,026	5,045	2,988	4,054	1,600	4,027	3,785	4,001
Deferred revenue		2,711	731	803	919	1,614	1,160	1,216	637	1,595	644	477
Line of credit			48,000	44,000	40,000	39,900	42,000	32,000	29,000	41,000	77,000	69,000
Current portion of long-term debt, net			98,953	98,569	98,178						11,189	11,027
Current liabilities, discontinued operations		0	0	0	0	0	0	0	42,644	0	0	0
Total Current Liabilities		37,673	195,696	178,964	176,810	90,413	122,264	103,653	101,888	125,349	173,914	153,729
Long-term debt, net		98,964				79,598	124,194	123,833	164,902	145,051	82,000	93,919
Long-term lease liabilities		10,516	8,999	9,447	9,983	10,342	14,203	17,072	20,359	24,430	22,206	23,018
Deferred taxes, net		80	10	124	126	961	1,367	4,091	6,140	6,608	6,745	9,359
Other non-current liabilities		203	201	199	190	544	3,894	3,105	2,870	3,761	5,357	4,997
Non-current liabilities, discontinued operations		0	0	0	0	0	0	0	3,981	0	0	0
Total Liabilities		163,436	204,906	188,734	187,109	181,858	265,922	251,754	300,140	305,199	290,222	285,022
Stockholders’ (Deficit) Equity:
Common stock, $0.001 par value; 50,000 shares authorized		30	30	30	30	29	29	29	29	29	29	29
Additional paid-in capital		174,268	174,036	168,070	167,352	166,943	166,327	165,725	165,533	164,865	164,068	163,388
Accumulated deficit		(140,091)	(99,899)	(87,450)	(76,099)	(22,536)	(9,338)	29,103	38,580	41,446	46,944	60,245
Accumulated other comprehensive loss				(286)	(586)	(712)	(816)	(992)	(1,358)	(1,716)	(2,103)	(2,504)
Total Stockholders’ (Deficit) Equity		34,207	74,167	80,364	90,697	143,724	156,202	193,865	202,784	204,624	208,938	221,158	231,044
Total Liabilities, Convertible Preferred Stock and Stockholders’ (Deficit) Equity		236,153	279,073	269,098	277,806	325,582	422,124	445,619	502,924	509,823	499,160	506,180
Restatement
Current Assets:
Cash and cash equivalents		0	0	0	0	0	0	0	0	0	0	0
Accounts receivable, less allowance for credit losses		(671)	(522)	(522)	(522)	(522)	(522)	(522)	(522)	0	0	0
Inventories, net		(3,437)	(5,936)	(4,860)	(4,833)	(2,591)	(1,824)	(1,350)	(1,053)	(1,473)	(578)	(620)
Prepaid expenses and other current assets		(1,205)	(1,553)	(1,711)	(1,689)	(1,784)	(1,622)	(1,871)	(930)	(3,132)	(1,780)	(1,780)
Current assets, discontinued operations		0	0	0	0	0	0	0	(515)	0	0	0
Total Current Assets		(5,313)	(8,011)	(7,093)	(7,044)	(4,897)	(3,968)	(3,743)	(3,020)	(4,605)	(2,358)	(2,400)
Investment in non-public company									44,769	0	0	(1,800)
Property and equipment, net		5,933	5,001	4,437	4,035	3,557	3,152	2,849	2,312	1,644	1,267	1,063
Operating lease right-of-use assets		(117)	(90)	(62)	(94)	0	0	0	0	0	0	0
Goodwill		0	0	0	0	0	0	0	0	0	0	0
Trademarks/tradenames, net		0	0	0	0	0	0	0	0	0	0	0
Customer relationships			0	0	0	0	0	0	0	0	0	0
Other assets		0	0	0	0	0	0	0	0	0	0	0
Non-current Assets, discontinued operations		0	0	0	0	0	0	0	(45,100)	0	0	0
Total Assets		503	(3,100)	(2,718)	(3,103)	(1,340)	(816)	(894)	(1,039)	(2,961)	(1,091)	(3,137)
Current Liabilities:
Accounts payable		(79)	(25)	0	0	27	52	0	0	0	0	0
Accrued compensation		0	0	0	0	0	0	0	0	0	0	0
Other accrued liabilities		(193)	(51)	(229)	(229)	(36)	76	(4)	314	314	(36)	(36)
Current portion of lease liabilities		0	0	0	0	0	0	0	0	0	0	0
Deferred revenue		0	0	0	0	0	0	0	(350)	(350)	0	0
Line of credit			0	0	0	0	0	0	0	0	0	0
Current portion of long-term debt, net			0	0	0						0	0
Current liabilities, discontinued operations		0	0	0	0	0	0	0	0	0	0	0
Total Current Liabilities		(272)	(76)	(229)	(229)	(9)	128	(4)	(36)	(36)	(36)	(36)
Long-term debt, net		(64)				0	0	0	0	0	0	0
Long-term lease liabilities		0	0	0	0	0	0	0	0	0	0	0
Deferred taxes, net		0	0	0	0	(165)	(166)	(142)	(165)	(504)	(114)	(482)
Other non-current liabilities		0	0	0	0	0	0	0	0	0	0	0
Non-current liabilities, discontinued operations		0	0	0	0	0	0	0	0	0	0	0
Total Liabilities		(336)	(76)	(229)	(229)	(174)	(38)	(146)	(201)	(540)	(150)	(518)
Stockholders’ (Deficit) Equity:
Common stock, $0.001 par value; 50,000 shares authorized		0	0	0	0	0	0	0	0	0	0	0
Additional paid-in capital		(25)	(178)	0	0	0	0	0	0	0	0	0
Accumulated deficit		839	(2,846)	(2,489)	(2,874)	(1,166)	(778)	(748)	(838)	(2,421)	(941)	(2,619)
Accumulated other comprehensive loss				0	0	0	0	0	0	0	0	0
Total Stockholders’ (Deficit) Equity		814	(3,024)	(2,489)	(2,874)	(1,166)	(778)	(748)	(838)	(2,421)	(941)	(2,619)	$ (1,209)
Total Liabilities, Convertible Preferred Stock and Stockholders’ (Deficit) Equity		503	(3,100)	(2,718)	(3,103)	(1,340)	(816)	(894)	(1,039)	(2,961)	(1,091)	(3,137)
As Restated
Current Assets:
Cash and cash equivalents		2,950	6,830	4,222	1,643	1,854	1,091	1,447	1,159	2,248	2,491	589
Accounts receivable, less allowance for credit losses		31,700	35,167	40,412	47,650	49,037	64,754	61,434	40,908	69,577	66,545	65,027
Inventories, net		45,259	71,588	59,425	62,012	71,109	77,609	68,065	62,023	75,306	70,624	59,378
Prepaid expenses and other current assets		3,217	5,496	5,446	5,363	5,140	7,099	7,720	4,108	11,191	12,169	19,973
Current assets, discontinued operations		0	0	0	0	0	0	0	37,103	0	0	0
Total Current Assets		83,126	119,081	109,505	116,668	127,140	150,553	138,666	145,301	158,322	151,829	144,967
Investment in non-public company									44,769	45,100	45,100	55,100
Property and equipment, net		126,732	123,853	121,988	122,566	126,766	183,081	183,309	122,598	170,337	172,240	172,476
Operating lease right-of-use assets		5,807	7,861	8,167	8,486	8,796	11,979	14,299	17,098	23,528	21,070	22,109
Goodwill		13,881	13,881	13,881	13,881	33,916	37,329	69,386	33,916	69,386	69,386	69,386
Trademarks/tradenames, net		4,400	7,400	8,700	8,700	17,100	25,328	25,328	17,100	25,328	25,328	25,328
Customer relationships			1,292	1,346	1,400	7,476	9,799	10,295	8,532	11,288	11,784	12,281
Other assets		2,710	2,605	2,793	3,002	3,048	3,239	3,442	3,531	3,573	1,332	1,396
Non-current Assets, discontinued operations		0	0	0	0	0	0	0	109,040	0	0	0
Total Assets		236,656	275,973	266,380	274,703	324,242	421,308	444,725	501,885	506,862	498,069	503,043
Current Liabilities:
Accounts payable		14,683	27,946	16,366	15,802	20,041	59,150	46,355	16,298	56,323	60,892	50,722
Accrued compensation		6,733	4,602	6,373	9,238	9,757	7,214	9,173	7,754	11,218	7,689	8,895
Other accrued liabilities		11,819	10,375	7,603	7,418	14,047	9,880	10,851	4,269	11,500	12,679	9,571
Current portion of lease liabilities		1,455	5,013	5,021	5,026	5,045	2,988	4,054	1,600	4,027	3,785	4,001
Deferred revenue		2,711	731	803	919	1,614	1,160	1,216	287	1,245	644	477
Line of credit			48,000	44,000	40,000	39,900	42,000	32,000	29,000	41,000	77,000	69,000
Current portion of long-term debt, net			98,953	98,569	98,178						11,189	11,027
Current liabilities, discontinued operations		0	0	0	0	0	0	0	42,644	0	0	0
Total Current Liabilities		37,401	195,620	178,735	176,581	90,404	122,392	103,649	101,852	125,313	173,878	153,693
Long-term debt, net		98,900				79,598	124,194	123,833	164,902	145,051	82,000	93,919
Long-term lease liabilities		10,516	8,999	9,447	9,983	10,342	14,203	17,072	20,359	24,430	22,206	23,018
Deferred taxes, net		80	10	124	126	796	1,201	3,949	5,975	6,104	6,631	8,877
Other non-current liabilities		203	201	199	190	544	3,894	3,105	2,870	3,761	5,357	4,997
Non-current liabilities, discontinued operations		0	0	0	0	0	0	0	3,981	0	0	0
Total Liabilities		163,100	204,830	188,505	186,880	181,684	265,884	251,608	299,939	304,659	290,072	284,504
Stockholders’ (Deficit) Equity:
Common stock, $0.001 par value; 50,000 shares authorized		30	30	30	30	29	29	29	29	29	29	29
Additional paid-in capital		174,243	173,858	168,070	167,352	166,943	166,327	165,725	165,533	164,865	164,068	163,388
Accumulated deficit		(139,252)	(102,745)	(89,939)	(78,973)	(23,702)	(10,116)	28,355	37,742	39,025	46,003	57,626
Accumulated other comprehensive loss				(286)	(586)	(712)	(816)	(992)	(1,358)	(1,716)	(2,103)	(2,504)
Total Stockholders’ (Deficit) Equity		35,021	71,143	77,875	87,823	142,558	155,424	193,117	201,946	202,203	207,997	218,539
Total Liabilities, Convertible Preferred Stock and Stockholders’ (Deficit) Equity		236,656	275,973	266,380	274,703	324,242	421,308	444,725	501,885	506,862	498,069	503,043
Discontinued Operations
Current Assets:
Cash and cash equivalents		0	892	1,682	652	753	482	508	396	395	15	150
Accounts receivable, less allowance for credit losses		726	7,709	8,483	9,336	9,290	37,259	35,218	9,317	40,714	36,945	37,855
Inventories, net		3,217	33,168	23,271	26,012	36,351	37,894	31,196	28,093	43,865	38,220	30,469
Prepaid expenses and other current assets		1,744	3,823	3,460	3,310	3,322	5,658	6,396	2,606	5,245	5,374	6,039
Current assets, discontinued operations		5,687	45,592	36,896	39,310	49,716	81,293	73,318	40,412	90,219	80,554	74,513
Investment in non-public company									0	0	0	0
Property and equipment, net		406	3,666	3,798	3,896	16,263	74,320	74,909	15,467	74,548	77,252	78,712
Operating lease right-of-use assets		707	2,610	2,771	2,933	3,093	4,492	6,603	3,562	8,125	8,379	8,750
Goodwill		0	0	0	0	20,035	23,448	55,505	20,035	55,505	55,505	55,505
Trademarks/tradenames, net		200	3,200	4,500	4,500	12,900	21,128	21,128	12,900	21,128	21,128	21,128
Customer relationships			1,292	1,346	1,400	7,425	9,671	10,090	8,250	10,929	11,348	11,767
Other assets		11	113	113	113	113	156	191	113	198	200	203
Non-current Assets, discontinued operations		1,324	10,881	12,528	12,842	59,829	133,215	168,426	60,327	170,433	173,812	176,065
Current Liabilities:
Accounts payable		26	14,645	6,743	2,850	6,747	50,495	37,749	4,676	47,436	52,907	44,371
Accrued compensation		0	498	452	297	339	3,958	4,438	254	4,794	3,561	4,921
Other accrued liabilities		193	1,010	981	939	1,054	6,000	6,138	1,260	5,724	6,564	5,902
Current portion of lease liabilities		239	679	669	658	650	1,770	2,818	623	3,022	3,075	3,290
Deferred revenue		0	0	0	0	0	193	147	0	505	347	477
Line of credit			0	0	0	0	0	0	0	0	0	0
Current portion of long-term debt, net			0	0	0						0	0
Current liabilities, discontinued operations		458	16,832	8,845	4,744	8,790	62,416	51,290	6,813	61,481	66,454	58,961
Long-term debt, net		0				0	0	0	0	0	0	0
Long-term lease liabilities		518	1,979	2,153	2,325	2,494	2,859	5,417	2,984	6,511	6,731	7,002
Deferred taxes, net		0	0	0	0	0	0	0	0	0	0	0
Other non-current liabilities		0	0	0	0	0	1,962	729	0	729	1,333	859
Non-current liabilities, discontinued operations		518	1,979	2,153	2,325	2,494	4,821	6,146	2,984	7,240	8,064	7,861
Total Liabilities		0
Stockholders’ (Deficit) Equity:
Common stock, $0.001 par value; 50,000 shares authorized		0	0	0	0	0	0	0	0	0	0	0
Additional paid-in capital		0	0	0	0	0	0	0	0	0	0	0
Accumulated deficit		0	0	0	0	0	0	0	0	0	0	0
Accumulated other comprehensive loss				0	0	0	0	0	0	0	0	0
Total Stockholders’ (Deficit) Equity		0	0	0	0	0	0	0	0	0	0	0
Total Liabilities, Convertible Preferred Stock and Stockholders’ (Deficit) Equity		$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0

Correction of Errors in Previously Reported Fiscal Year 2022 and 2021 Annual Financial Statements - Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands	3 Months Ended									6 Months Ended	12 Months Ended
	Feb. 26, 2023	Nov. 27, 2022	Aug. 28, 2022	Feb. 27, 2022	Nov. 28, 2021	Aug. 29, 2021	Feb. 28, 2021	Nov. 29, 2020	Aug. 30, 2020	Nov. 27, 2022	May 28, 2023	May 29, 2022	May 30, 2021
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Tax at U.S. statutory rate											$ (13,932)	$ (4,344)	$ (6,256)
State income taxes, net of federal benefit											(1,805)	(638)	(830)
Change in valuation allowance											19,461	(1,065)	2,597
Tax credit carryforwards											(611)	(436)	(606)
Other compensation-related activity											283	234	249
Impairment of goodwill											0	2,347	0
Foreign rate differential											(2,749)	(496)	(1,414)
Other											(339)	(813)	(90)
Income tax provision (benefit)	$ 70	$ 4	$ 4	$ 3,389	$ (6,275)	$ (1,807)	$ (1,530)	$ (1,528)	$ (3,788)	$ 8	$ 308	(5,211)	(6,350)
Discontinued Operations
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Tax at U.S. statutory rate												(10,492)	(398)
State income taxes, net of federal benefit												(1,601)	(54)
Change in valuation allowance												11,833	0
Tax credit carryforwards												0	0
Other compensation-related activity												0	0
Impairment of goodwill												0
Foreign rate differential												0	0
Other												(187)	0
Income tax provision (benefit)	$ 0	$ 0	$ 0	$ (1,462)	$ 1,043	$ 289				$ 0		(447)	(452)
As Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Tax at U.S. statutory rate												(14,548)	(2,409)
State income taxes, net of federal benefit												(2,195)	(304)
Change in valuation allowance												10,134	2,667
Tax credit carryforwards												(436)	(606)
Other compensation-related activity												234	249
Impairment of goodwill												2,347
Foreign rate differential												(496)	(1,414)
Other												(985)	(86)
Income tax provision (benefit)												(5,945)	(1,903)
Restatement
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Tax at U.S. statutory rate												(288)	(4,245)
State income taxes, net of federal benefit												(44)	(580)
Change in valuation allowance												634	(70)
Tax credit carryforwards												0	0
Other compensation-related activity												0	0
Impairment of goodwill												0
Foreign rate differential												0	0
Other												(15)	(4)
Income tax provision (benefit)												287	(4,899)
As Restated
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Tax at U.S. statutory rate												(14,836)	(6,654)
State income taxes, net of federal benefit												(2,239)	(884)
Change in valuation allowance												10,768	2,597
Tax credit carryforwards												(436)	(606)
Other compensation-related activity												234	249
Impairment of goodwill												2,347
Foreign rate differential												(496)	(1,414)
Other												(1,000)	(90)
Income tax provision (benefit)												$ (5,658)	$ (6,802)

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	May 28, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Legal Contingencies In the ordinary course of business, the Company is involved in various legal proceedings and claims. The Company makes a provision for a liability relating to legal matters when it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated. These provisions are reviewed at least each fiscal quarter and adjusted to reflect the impacts of negotiations, estimated settlements, legal rulings, advice of legal counsel and other information and events pertaining to a particular matter. Legal fees are expensed in the period in which they are incurred. Claims Alleging Unfair Labor Practices Curation Foods was previously the target of a union organizing campaign which had included three unsuccessful attempts to unionize Curation Foods’ formerly owned Guadalupe, California processing plant. The campaign had involved a union and over 100 former and current employees of Pacific Harvest, Inc. and Rancho Harvest, Inc. (collectively “Pacific Harvest”), Curation Foods’ former labor contractors at its Guadalupe, California processing facility, bringing legal actions before various state and federal agencies, the California Superior Court, and initiating over 100 individual arbitrations against Curation Foods and Pacific Harvest. The legal actions consisted of various claims, all of which were settled in fiscal year 2017. Under the settlement agreement, the plaintiffs were to be paid in three installments. The Company and Pacific Harvest each agreed to pay one half of the settlement payments. The Company paid the entire first two installments and Pacific Harvest agreed to reimburse the Company for its $2.1 million portion. During the fiscal year 2020, the Company’s review for collectability concluded that a reserve of $1.2 million, representing the outstanding balance, would be recorded. The Company makes ongoing estimates relating to the collectability of receivables. A reserve is established for any note when there is reasonable doubt that the principal or interest will be collected in full. The Company may write off uncollectable receivables after collection efforts are exhausted. The Company’s conclusion regarding collectability changed as a result of Pacific Harvest communicating their refusal to pay combined with their bringing claims against the Company. During the fiscal year ended May 30, 2021, the Company agreed to discharge Pacific Harvest from the $1.2 million receivable as part of a settlement agreement with Pacific Harvest (see other litigation matters section below for additional information). Compliance Matters On December 1, 2018, the Company acquired all of the voting interests and substantially all of the assets of Yucatan (the “Yucatan Acquisition”), which owns a guacamole manufacturing plant in Mexico called Procesadora Tanok, S de RL de C.V. (“Tanok”). On October 21, 2019, the Company retained Latham & Watkins, LLP to conduct an internal investigation relating to potential environmental and Foreign Corrupt Practices Act (“FCPA”) compliance matters associated with regulatory permitting at the Tanok facility in Mexico. The Company subsequently voluntarily self-disclosed to the SEC and the U.S. Department of Justice (“DOJ”) the conduct under investigation, and these agencies commenced an investigation. The Company also disclosed the conduct under investigation to the Office of the Attorney General in Mexico, which in December 2021 decided (a) that Curation Foods, Inc., did not commit or participate in the criminal conduct disclosed, (b) no criminal action would be taken against Curation Foods, Inc., (c) that no criminal liability was established against Tanok and Yucatan after they were acquired by Curation Foods, Inc., and (d) the decisions do not apply to any individuals who may be responsible for misconduct. The Company also disclosed the misconduct to other regulators in Mexico. The Company continues to cooperate in the government investigations and requests for information. The Company is negotiating a potential resolution of DOJ’s investigation. The conduct at issue began prior to the Yucatan Acquisition, and the agreement for the Yucatan Acquisition provides the Company with certain indemnification rights that may allow the Company to recover the cost of a portion of the liabilities that have been and may be incurred by the Company in connection with these compliance matters. On September 2, 2020, one of the former owners of Yucatan filed a lawsuit against the Company in Los Angeles County Superior Court for breach of employment agreement, breach of contract, breach of holdback agreement, declaratory relief and accounting, and related claims. The Plaintiff seeks over $10 million in damages, including delivery of shares of his stock held in escrow for the indemnification claims described above. On November 3, 2020, the Company filed an answer and cross-complaint against the Plaintiff and other former equity holders of Yucatan for fraud, indemnification, and other claims, and seeking no less than $80 million in damages. The Company has since reached settlements with several of the cross-defendants, pursuant to which the settling cross-defendants agreed that certain of the shares of stock they received when the Company acquired Yucatan be sold and the proceeds paid to the Company. The matter is proceeding against the Plaintiff and the remaining cross-defendants. On November 16, 2023, the Company and the U.S. Department of Justice (the “DOJ”) executed a letter (“Declination Letter”) in which the DOJ has declined to prosecute the Company for violations of the Foreign Corrupt Practices Act (the “FCPA”) involving the Company’s formerly-held subsidiary, Yucatan Foods L.P. (“Yucatan”). Pursuant to the Declination Letter, in connection with the DOJ’s declination to prosecute, the Company has agreed to pay disgorgement in the amount of $406,505, and to continue to fully cooperate with any ongoing government investigations and any prosecutions that might result in the future. At this stage, the ultimate outcome of these or any other investigations, legal actions, or potential claims that may arise from the matters under investigation is uncertain and the Company cannot reasonably predict the timing or outcomes, or estimate the amount of net loss after indemnification, or its effect, if any, on its financial statements. Separately, there are indemnification provisions in the purchase agreement that may allow the Company to recover costs for breach of the purchase agreement from the seller. Because recovery of amounts is contingent upon a legal settlement, no amounts have been recorded as recoverable costs through May 28, 2023. During the third quarter of fiscal year 2021 the Company reached a resolution with its insurance carrier that resulted in a recovery of $1.6 million which is recorded as a reduction of selling, general and administrative in the Consolidated Statements of Operations for the fiscal year ended May 30, 2021. Absent further material developments in the investigation, the Company does not expect additional material recovery from the insurance carrier. SEC Subpoena The Chicago Regional Office of the SEC has issued a subpoena to the Company seeking documents and information concerning the Restatement. The Company is in the process of responding to the subpoena and intends to cooperate with the SEC. We cannot predict the duration or outcome of this matter at this time. Other Litigation Matters On February 14, 2020, a complaint was filed against the Company, Curation Foods, the Company’s CEO at the time, Albert Bolles, the Company’s former CFO Gregory Skinner, and other defendants in Santa Barbara County Superior Court, entitled Pacific Harvest, Inc., et al. v. Curation Foods, Inc., et al. (No. 20CV00920). The case was brought by Pacific Harvest, Inc. (“Pacific”) and Rancho Harvest, Inc. (“Rancho”), two related companies that have provided labor and employee staffing services to Curation Foods. Among other things, Pacific and Rancho allege that Curation Foods wrongfully decreased its use of Pacific’s staffing services and misappropriated Pacific’s trade secrets when Curation Foods increased its use of another staffing company and transitioned Pacific’s employees to the other staffing company. Pacific and Rancho also allege that Curation Foods breached agreements between the parties related to a loan from Curation Foods, on which Pacific and Rancho have ceased making payments. Pacific Harvest and Rancho asserted claims for breach of contract, breach of the implied covenant of good faith and fair dealing, intentional interference with contracts and potential economic advantage, misappropriation of trade secrets under California’s Uniform Trade Secrets Act, business practices in violation of California Unfair Competition Law, fraud, defamation, violation of California Usury Law, breach of fiduciary duty, and declaratory relief regarding the parties’ rights and obligations under certain of the parties’ contracts. On March 15, 2021, the Company executed a settlement agreement related to this matter. In connection with the settlement agreement, the Company recorded a $1.8 million charge after considering the total settlement amount and insurance recoveries, and this amount is included in Legal settlement charge in the Consolidated Statements of Operations for the fiscal year ended May 30, 2021. The final settlement amount was paid to the plaintiffs by Curation Foods, its co-defendants, and insurers on April 14, 2021. Pursuant to the settlement agreement, the case was dismissed with prejudice on April 23, 2021. In June of 2021 a complaint was filed against the company alleging multiple wage and hour claims. On June 6, 2022 the Company reached an agreement to settle all causes of action alleged by the Plaintiff under the California Labor Code, the California Business and Professionals Code, the applicable Wage Order, and the Private Attorneys General Act (the “PAGA”). In connection with the settlement agreement the Company recorded a $0.5 million charge, and this amount is included in Loss from discontinued operations costs in the Consolidated Statements of Operations for the fiscal year ended May 28, 2023.

Debt - Future Minimum Principal Payments of Debt (Details) - USD ($) $ in Thousands	May 28, 2023	Feb. 26, 2023	May 29, 2022	Feb. 27, 2022	Nov. 28, 2021	Aug. 29, 2021	May 30, 2021	Feb. 28, 2021	Nov. 29, 2020	Aug. 30, 2020
Debt Instrument [Line Items]
Long-term debt, net	$ 84,256	$ 98,900	$ 0	$ 79,598	$ 124,194	$ 123,833	$ 164,902	$ 145,051	$ 82,000	$ 93,919
Term loan \| Term loan
Debt Instrument [Line Items]
Fiscal year 2024	580
Fiscal year 2025	773
Fiscal year 2026	773
Fiscal year 2027	773
Fiscal year 2028	773
Thereafter	146,561
Long-term debt, net	$ 150,233

Debt (Tables)

12 Months Ended

May 28, 2023

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

Long-term debt consists of the following as of May 28, 2023 and May 29, 2022 (in thousands):


	May 28, 2023		May 29, 2022
Term loan	$	142,503	$	103,712
Equipment sale finance liability	7,730		—
Total principal amount of long-term debt	150,233		103,712
Less: unamortized debt discount (2023) / Less: unamortized debt issuance costs (2022)	(605)		(5,534)
Less: debt discount	(64,792)		—
Total long-term debt, net of unamortized debt issuance costs	84,836		98,178
Less: current portion of long-term debt, net	(580)		(98,178)
Long-term debt, net	$	84,256	$	—

Schedule of Maturities of Long-term Debt

The future minimum principal payments of the Company’s term loan and equipment sale finance liability for each year presented are as follows (in thousands), excluding forecasted cash and paid-in-kind interest:



Fiscal year 2024	$	580
Fiscal year 2025	773
Fiscal year 2026	773
Fiscal year 2027	773
Fiscal year 2028	773
Thereafter	146,561
Total	$	150,233

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details

Audit Information	12 Months Ended
Audit Information	May 28, 2023
Audit Information [Abstract]
Auditor Name	Ernst & Young LLP
Auditor Location	Minneapolis, Minnesota
Auditor Firm ID	42

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended									6 Months Ended			9 Months Ended			12 Months Ended
	Feb. 26, 2023	Nov. 27, 2022	Aug. 28, 2022	Feb. 27, 2022	Nov. 28, 2021	Aug. 29, 2021	Feb. 28, 2021	Nov. 29, 2020	Aug. 30, 2020	Nov. 27, 2022	Nov. 28, 2021	Nov. 29, 2020	Feb. 26, 2023	Feb. 27, 2022	Feb. 28, 2021	May 28, 2023	May 29, 2022	May 30, 2021
Statement of Comprehensive Income [Abstract]
Net loss	$ (36,507)	$ (12,806)	$ (10,966)	$ (13,586)	$ (38,471)	$ (9,387)	$ (6,978)	$ (11,623)	$ (12,410)	$ (23,772)	$ (47,858)	$ (24,033)	$ (60,279)	$ (61,444)	$ (31,011)	$ (99,563)	$ (116,715)	$ (32,294)
Other comprehensive income, net of tax:
Net unrealized gains (losses) on interest rate swaps, net of tax effect		286	300	104	176	366	387	401	304	586	542	705	586	646	1,092	586	772	1,450
Other comprehensive income, net		286	300	104	176	366	387	401	304	586	542	705	586	646	1,092	586	772	1,450
Total comprehensive loss	$ (36,507)	$ (12,520)	$ (10,666)	$ (13,482)	$ (38,295)	$ (9,021)	$ (6,591)	$ (11,222)	$ (12,106)	$ (23,186)	$ (47,316)	$ (23,328)	$ (59,693)	$ (60,798)	$ (29,919)	$ (98,977)	$ (115,943)	$ (30,844)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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Reference 21: http://www.xbrl.org/2003/role/disclosureRef
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Reference 22: http://www.xbrl.org/2003/role/disclosureRef
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Reference 23: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Organization, Basis of Presentation, and Summary of Significant Accounting Policies - Reconciliation of Cash, Cash Equivalents (Details) - USD ($) $ in Thousands	May 28, 2023	Feb. 26, 2023	Nov. 27, 2022	Aug. 28, 2022	May 29, 2022	Feb. 27, 2022	Nov. 28, 2021	Aug. 29, 2021	May 30, 2021	Feb. 28, 2021	Nov. 29, 2020	Aug. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash and cash equivalents – Consolidated Balance Sheet	$ 19,091	$ 2,950	$ 5,938	$ 2,540	$ 991	$ 1,101	$ 609	$ 939	$ 763	$ 1,853	$ 2,476	$ 439
Cash and cash equivalents, discontinued operations	0				652				532
Cash and cash equivalents – Consolidated Statement of Cash Flow	$ 19,091				$ 1,643				$ 1,295

Correction of Errors in Previously Reported Fiscal Year 2022 and 2021 Annual Financial Statements - Inventories (Details) - USD ($) $ in Thousands	May 28, 2023	Feb. 26, 2023	Nov. 27, 2022	Aug. 28, 2022	May 29, 2022	Feb. 27, 2022	Nov. 28, 2021	Aug. 29, 2021	May 30, 2021	Feb. 28, 2021	Nov. 29, 2020	Aug. 30, 2020
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Finished goods	$ 13,141	$ 13,541	$ 15,659	$ 10,781	$ 13,397	$ 13,403	$ 20,885	$ 19,044	$ 17,754	$ 12,651	$ 14,662	$ 12,906
Raw materials	17,351	18,651	15,477	16,261	15,488	17,413	14,739	14,342	10,301	11,009	10,118	9,640
Work in progress	10,349	9,850	7,284	9,112	7,115	3,942	4,091	3,483	5,875	7,781	7,624	6,363
Total inventories	$ 40,841	42,042	38,420	36,154	36,000	34,758	39,715	36,869	33,930	31,441	32,404	28,909
Discontinued Operations
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Finished goods		1,284	23,408	14,321	19,629	29,036	22,309	16,278	22,453	28,877	21,674	14,727
Raw materials		1,933	9,000	8,762	6,340	7,294	15,583	14,914	5,615	14,983	16,494	15,675
Work in progress		0	760	188	43	21	2	4	25	5	52	67
Total inventories		3,217	33,168	23,271	26,012	36,351	37,894	31,196	28,093	43,865	38,220	30,469
As Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Finished goods		14,636	38,882	25,266	33,029	42,387	42,967	35,142	40,204	41,533	36,325	27,635
Raw materials		22,554	26,959	27,402	24,221	26,644	31,924	30,344	16,644	26,855	26,983	25,794
Work in progress		11,506	11,683	11,617	9,595	4,669	4,542	3,929	6,228	8,391	7,894	6,569
Total inventories		48,696	77,524	64,285	66,845	73,700	79,433	69,415	63,076	76,779	71,202	59,998
Restatement
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Finished goods		189	185	(164)	(3)	52	227	180	3	(5)	11	(2)
Raw materials		(1,970)	(2,482)	(2,379)	(2,393)	(1,937)	(1,602)	(1,088)	(728)	(863)	(371)	(479)
Work in progress		(1,656)	(3,639)	(2,317)	(2,437)	(706)	(449)	(442)	(328)	(605)	(218)	(139)
Total inventories		(3,437)	(5,936)	(4,860)	(4,833)	(2,591)	(1,824)	(1,350)	(1,053)	(1,473)	(578)	(620)
As Restated
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Finished goods		14,825	39,067	25,102	33,026	42,439	43,194	35,322	40,207	41,528	36,336	27,633
Raw materials		20,584	24,477	25,023	21,828	24,707	30,322	29,256	15,916	25,992	26,612	25,315
Work in progress		9,850	8,044	9,300	7,158	3,963	4,093	3,487	5,900	7,786	7,676	6,430
Total inventories		$ 45,259	$ 71,588	$ 59,425	$ 62,012	$ 71,109	$ 77,609	$ 68,065	$ 62,023	$ 75,306	$ 70,624	$ 59,378

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Business Segment Reporting	12 Months Ended
Business Segment Reporting	May 28, 2023
Segment Reporting [Abstract]
Business Segment Reporting	Business Segment Reporting Lifecore Biomedical operates as one reportable segment, Lifecore, which is described in further detail below. This is based on the objectives of the business and how our chief operating decision maker (CODM), the President and Chief Executive Officer, monitors operating performance and allocates resources. Change in Reportable Segments The Company previously operated in principally two reportable segments, Lifecore and Curation, and disclosed Other which included corporate activities. During the fourth quarter of fiscal year 2023, in connection with the previously announced strategic shift and upon the sale of Yucatan and O Olive, the Company has ceased to operate the Curation Foods business. As a result, the Company changed the level of detail at which our CODM regularly reviews and manages the businesses, resulting in a change to our reportable segments. With the exit of the Curation Foods business, the “Curation” segment ceased to exist; and “Other”, which previously included corporate general, interest, income tax and other general and administrative expenses, was incorporated into the single “Lifecore” segment. We now manage and report our operating results through one reportable segment: Lifecore. This change allows us to better align our business models, resources, and cost structure to the specific current and future growth of our business, while maintaining the necessary information and transparency to our stockholders. Our historical segment information has been recast to conform to the current segment structure.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Section 50
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Discontinued Operations - Assets and Liabilities (Details) - USD ($) $ in Thousands	May 28, 2023	Feb. 26, 2023	Nov. 27, 2022	Aug. 28, 2022	May 29, 2022	Feb. 27, 2022	Nov. 28, 2021	Aug. 29, 2021	May 30, 2021	Feb. 28, 2021	Nov. 29, 2020	Aug. 30, 2020
ASSETS
Cash and cash equivalents	$ 0				$ 652				$ 532
Total current assets, discontinued operations	0	$ 5,687	$ 45,592	$ 36,896	39,310	$ 49,716	$ 81,293	$ 73,318	77,515	$ 90,219	$ 80,554	$ 74,513
Total other assets, discontinued operations	0	1,324	10,881	12,528	12,842	59,829	133,215	168,426	169,367	170,433	173,812	176,065
LIABILITIES
Total current liabilities, discontinued operations	0	458	16,832	8,845	4,744	8,790	62,416	51,290	49,457	61,481	66,454	58,961
Non-current liabilities, discontinued operations	$ 0	$ 518	$ 1,979	$ 2,153	2,325	$ 2,494	$ 4,821	$ 6,146	$ 6,965	$ 7,240	$ 8,064	$ 7,861
Discontinued Operations \| O Olive and Yucatan
ASSETS
Cash and cash equivalents					652
Accounts receivable, less allowance for credit losses					9,336
Inventories					26,012
Prepaid expenses and other current assets					3,310
Total current assets, discontinued operations					39,310
Property and equipment, net					3,896
Operating lease right-of-use assets					2,933
Other assets					113
Total other assets, discontinued operations					12,842
Total assets, discontinued operations					52,152
LIABILITIES
Accounts payable					2,850
Accrued compensation					297
Current liabilities, discontinued operations					939
Current portion of lease liabilities					658
Total current liabilities, discontinued operations					4,744
Long-term lease liabilities					2,325
Non-current liabilities, discontinued operations					2,325
Total liabilities, discontinued operations					7,069
Discontinued Operations \| O Olive and Yucatan \| Trademarks/tradenames
ASSETS
Intangible assets, non-current					4,500
Discontinued Operations \| O Olive and Yucatan \| Customer relationships
ASSETS
Intangible assets, non-current					$ 1,400

Unaudited Quarterly Consolidated Financial Information - Statement of Equity (Details) - USD ($) $ in Thousands	3 Months Ended										6 Months Ended			9 Months Ended			12 Months Ended
	May 28, 2023	Feb. 26, 2023	Nov. 27, 2022	Aug. 28, 2022	Feb. 27, 2022	Nov. 28, 2021	Aug. 29, 2021	Feb. 28, 2021	Nov. 29, 2020	Aug. 30, 2020	Nov. 27, 2022	Nov. 28, 2021	Nov. 29, 2020	Feb. 26, 2023	Feb. 27, 2022	Feb. 28, 2021	May 28, 2023	May 29, 2022	May 30, 2021
Increase (Decrease) in Temporary Equity [Roll Forward]
Convertible Preferred Stock, beginning balance (in shares)	39,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Convertible Preferred Stock, beginning balance	$ 38,535	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0
Proceeds of Convertible Preferred Stock, net of issuance costs (in shares)		39,000															39,000
Proceeds of Convertible Preferred Stock, net of issuance costs		$ 38,082															$ 38,082
Accretion of Convertible Preferred Stock		25															73
Convertible Preferred Stock Paid in Kind (PIK) dividend		$ 428															$ 1,163
Convertible Preferred Stock, ending balance (in shares)	39,000	39,000	0	0	0	0	0	0	0	0	0	0	0	39,000	0	0	39,000	0	0
Convertible Preferred Stock, ending balance	$ 39,318	$ 38,535	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 38,535	$ 0	$ 0	$ 39,318	$ 0	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)				29,513,000							29,513,000			29,513,000			29,513,000
Beginning balance	$ 35,021	71,143	77,875	$ 87,823	155,424	193,117	201,946	207,997	218,539	229,835	$ 87,823	201,946	229,835	$ 87,823	201,946	229,835	$ 87,823	201,946	229,835
Convertible Preferred Stock Paid in Kind (PIK) dividend														(428)			(1,163)	0	0
Issuance of stock under stock plans, net of shares withheld																		1
Taxes paid by Company for employee stock plans		(65)	(142)	(67)	(6)	(84)	(428)		(215)	(82)							(274)	(789)	(405)
Stock-based compensation		903	1,108	785	622	686	620	797	895	892							3,612	2,608	3,360
Accretion of Convertible Preferred Stock		(25)															(73)
Net loss		(36,507)	(12,806)	(10,966)	(13,586)	(38,471)	(9,387)	(6,978)	(11,623)	(12,410)	(23,772)	(47,858)	(24,033)	(60,279)	(61,444)	(31,011)	(99,563)	(116,715)	(32,294)
Other comprehensive income, net of tax			286	300	104	176	366	387	401	304	586	542	705	586	646	1,092	586	$ 772	1,450
Issuance of shares to Wynnefield Capital, Inc., net of issuance costs			4,822														$ 4,822
Ending balance (in shares)	30,322,000																30,322,000	29,513,000
Ending balance	$ (4,230)	$ 35,021	$ 71,143	$ 77,875	$ 142,558	$ 155,424	$ 193,117	$ 202,203	$ 207,997	$ 218,539	$ 71,143	$ 155,424	$ 207,997	$ 35,021	$ 142,558	$ 202,203	$ (4,230)	$ 87,823	$ 201,946
As Reported
Increase (Decrease) in Temporary Equity [Roll Forward]
Convertible Preferred Stock, beginning balance (in shares)	39,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Convertible Preferred Stock, beginning balance	$ 38,510	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0
Proceeds of Convertible Preferred Stock, net of issuance costs (in shares)		39,000
Proceeds of Convertible Preferred Stock, net of issuance costs		$ 38,082
Convertible Preferred Stock Paid in Kind (PIK) dividend		$ 428
Convertible Preferred Stock, ending balance (in shares)		39,000	0	0	0	0	0	0	0	0	0	0	0	39,000	0	0		0	0
Convertible Preferred Stock, ending balance		$ 38,510	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 38,510	$ 0	$ 0		$ 0	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	34,207	74,167	80,364	90,697	156,202	193,865	202,784	208,938	221,158	231,044	90,697	202,784	231,044	90,697	202,784	231,044	90,697	202,784	231,044
Convertible Preferred Stock Paid in Kind (PIK) dividend		(428)												(428)
Issuance of stock under stock plans, net of shares withheld																		1
Taxes paid by Company for employee stock plans		(65)	(142)	(67)	(6)	(84)	(428)		(215)	(82)								(789)	(405)
Stock-based compensation		903	1,108	785	622	686	620	797	895	892								2,608	3,360
Net loss		(40,192)	(12,449)	(11,351)	(13,086)	(38,441)	(9,477)	(5,498)	(13,301)	(11,000)	(23,800)	(47,918)	(24,301)	(63,992)		(29,799)		(114,679)	(32,665)
Other comprehensive income, net of tax			286	300	104	176	366	387	401	304	586	542	705	586		1,092		772	1,450
Issuance of shares to Wynnefield Capital, Inc., net of issuance costs		(178)	5,000
Ending balance		34,207	74,167	80,364	143,724	156,202	193,865	204,624	208,938	221,158	74,167	156,202	208,938	34,207	143,724	204,624		90,697	202,784
As Reported \| After Discontinued Operations Restatement
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss															(61,116)
Other comprehensive income, net of tax															646
Ending balance					143,836										143,836
Restatement
Increase (Decrease) in Temporary Equity [Roll Forward]
Accretion of Convertible Preferred Stock		25
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	814	(3,024)	(2,489)	(2,874)	(778)	(748)	(838)	(941)	(2,619)	(1,209)	(2,874)	(838)	(1,209)	(2,874)	(838)	(1,209)	(2,874)	(838)	(1,209)
Convertible Preferred Stock Paid in Kind (PIK) dividend														0
Accretion of Convertible Preferred Stock		(25)
Net loss		3,685	(357)	385	(500)	(30)	90	(1,480)	1,678	(1,410)	28	60	268	3,713		(1,212)		(2,036)	371
Other comprehensive income, net of tax			0	0	0	0	0	0	0	0	0	0	0	0		0		0	0
Issuance of shares to Wynnefield Capital, Inc., net of issuance costs			(178)
Ending balance		814	(3,024)	(2,489)	(1,166)	(778)	(748)	(2,421)	(941)	(2,619)	(3,024)	(778)	(941)	814	(1,166)	(2,421)		(2,874)	(838)
Restatement \| After Discontinued Operations Restatement
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss															(328)
Other comprehensive income, net of tax															0
As Restated
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	$ 35,021	71,143	77,875	87,823	155,424	193,117	201,946	207,997	218,539		87,823	201,946		87,823	201,946		$ 87,823	201,946
Convertible Preferred Stock Paid in Kind (PIK) dividend		(428)
Net loss		(36,507)	(12,806)	(10,966)	(13,586)	(38,471)	(9,387)	(6,978)	(11,623)	(12,410)	(23,772)	(47,858)	(24,033)	(60,279)		(31,011)		(116,715)	(32,294)
Other comprehensive income, net of tax			286	300	104	176	366	387	401	304	586	542	705	586		1,092		772	1,450
Ending balance		$ 35,021	$ 71,143	$ 77,875	$ 142,558	$ 155,424	$ 193,117	$ 202,203	$ 207,997	$ 218,539	$ 71,143	$ 155,424	$ 207,997	$ 35,021	142,558	$ 202,203		$ 87,823	$ 201,946
As Restated \| After Discontinued Operations Restatement
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss															(61,444)
Other comprehensive income, net of tax															$ 646
Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)	30,319,000	30,297,000	29,593,000	29,513,000	29,481,000	29,462,000	29,333,000	29,323,000	29,242,000	29,224,000	29,513,000	29,333,000	29,224,000	29,513,000	29,333,000	29,224,000	29,513,000	29,333,000	29,224,000
Beginning balance	$ 30	$ 30	$ 30	$ 30	$ 29	$ 29	$ 29	$ 29	$ 29	$ 29	$ 30	$ 29	$ 29	$ 30	$ 29	$ 29	$ 30	$ 29	$ 29
Issuance of stock under stock plans, net of shares withheld (in shares)		22,000	76,000	80,000	1,000	19,000	129,000		81,000	18,000							181,000	180,000	109,000
Issuance of stock under stock plans, net of shares withheld																		$ 1
Issuance of shares to Wynnefield Capital, Inc., net of issuance costs (in shares)			628,000														628,000
Ending balance (in shares)	30,322,000	30,319,000	30,297,000	29,593,000	29,482,000	29,481,000	29,462,000	29,323,000	29,323,000	29,242,000	30,297,000	29,481,000	29,323,000	30,319,000	29,482,000	29,323,000	30,322,000	29,513,000	29,333,000
Ending balance	$ 30	$ 30	$ 30	$ 30	$ 29	$ 29	$ 29	$ 29	$ 29	$ 29	$ 30	$ 29	$ 29	$ 30	$ 29	$ 29	$ 30	$ 30	$ 29
Common Stock \| As Reported
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)	30,319,000	30,297,000	29,593,000	29,513,000	29,481,000	29,462,000	29,333,000	29,323,000	29,242,000	29,224,000	29,513,000	29,333,000	29,224,000	29,513,000	29,333,000	29,224,000	29,513,000	29,333,000	29,224,000
Beginning balance	$ 30	$ 30	$ 30	$ 30	$ 29	$ 29	$ 29	$ 29	$ 29	$ 29	$ 30	$ 29	$ 29	$ 30	$ 29	$ 29	$ 30	$ 29	$ 29
Issuance of stock under stock plans, net of shares withheld (in shares)		22,000	76,000	80,000	1,000	19,000	129,000		81,000	18,000								180,000	109,000
Issuance of stock under stock plans, net of shares withheld																		$ 1
Issuance of shares to Wynnefield Capital, Inc., net of issuance costs (in shares)			628,000
Ending balance (in shares)		30,319,000	30,297,000	29,593,000	29,482,000	29,481,000	29,462,000	29,323,000	29,323,000	29,242,000	30,297,000	29,481,000	29,323,000	30,319,000	29,482,000	29,323,000		29,513,000	29,333,000
Ending balance		$ 30	$ 30	$ 30	$ 29	$ 29	$ 29	$ 29	$ 29	$ 29	$ 30	$ 29	$ 29	$ 30	$ 29	$ 29		$ 30	$ 29
Additional Paid-in Capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	174,243	173,858	168,070	167,352	166,327	165,725	165,533	164,068	163,388	162,578	167,352	165,533	162,578	167,352	165,533	162,578	167,352	165,533	162,578
Convertible Preferred Stock Paid in Kind (PIK) dividend		(428)															(1,163)
Taxes paid by Company for employee stock plans		(65)	(142)	(67)	(6)	(84)	(428)		(215)	(82)							(274)	(789)	(405)
Stock-based compensation		903	1,108	785	622	686	620	797	895	892							3,612	2,608	3,360
Accretion of Convertible Preferred Stock		(25)															(73)
Issuance of shares to Wynnefield Capital, Inc., net of issuance costs			4,822														4,822
Ending balance	174,276	174,243	173,858	168,070	166,943	166,327	165,725	164,865	164,068	163,388	173,858	166,327	164,068	174,243	166,943	164,865	174,276	167,352	165,533
Additional Paid-in Capital \| As Reported
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	174,268	174,036	168,070	167,352	166,327	165,725	165,533	164,068	163,388	162,578	167,352	165,533	162,578	167,352	165,533	162,578	167,352	165,533	162,578
Convertible Preferred Stock Paid in Kind (PIK) dividend		(428)
Taxes paid by Company for employee stock plans		(65)	(142)	(67)	(6)	(84)	(428)		(215)	(82)								(789)	(405)
Stock-based compensation		903	1,108	785	622	686	620	797	895	892								2,608	3,360
Issuance of shares to Wynnefield Capital, Inc., net of issuance costs		(178)	5,000
Ending balance		174,268	174,036	168,070	166,943	166,327	165,725	164,865	164,068	163,388	174,036	166,327	164,068	174,268	166,943	164,865		167,352	165,533
Additional Paid-in Capital \| Restatement
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accretion of Convertible Preferred Stock		(25)
Issuance of shares to Wynnefield Capital, Inc., net of issuance costs			(178)
Retained Earnings (Accumulated Deficit)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(139,252)	(102,745)	(89,939)	(78,973)	(10,116)	28,355	37,742	46,003	57,626	70,036	(78,973)	37,742	70,036	(78,973)	37,742	70,036	(78,973)	37,742	70,036
Net loss		(36,507)	(12,806)	(10,966)	(13,586)	(38,471)	(9,387)	(6,978)	(11,623)	(12,410)							(99,563)	(116,715)	(32,294)
Ending balance	(178,536)	(139,252)	(102,745)	(89,939)	(23,702)	(10,116)	28,355	39,025	46,003	57,626	(102,745)	(10,116)	46,003	(139,252)	(23,702)	39,025	(178,536)	(78,973)	37,742
Retained Earnings (Accumulated Deficit) \| As Reported
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(140,091)	(99,899)	(87,450)	(76,099)	(9,338)	29,103	38,580	46,944	60,245	71,245	(76,099)	38,580	71,245	(76,099)	38,580	71,245	(76,099)	38,580	71,245
Net loss		(40,192)	(12,449)	(11,351)	(13,086)	(38,441)	(9,477)	(5,498)	(13,301)	(11,000)								(114,679)	(32,665)
Ending balance		(140,091)	(99,899)	(87,450)	(22,424)	(9,338)	29,103	41,446	46,944	60,245	(99,899)	(9,338)	46,944	(140,091)	(22,424)	41,446		(76,099)	38,580
Retained Earnings (Accumulated Deficit) \| Restatement
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance		(2,846)	(2,489)	(2,874)	(666)	(748)	(838)	(941)	(2,619)	(1,209)	(2,874)	(838)	(1,209)	(2,874)	(838)	(1,209)	(2,874)	(838)	(1,209)
Net loss		3,685	(357)	385	(500)	(30)	90	(1,480)	1,678	(1,410)								(2,036)	371
Ending balance			(2,846)	(2,489)		(666)	(748)		(941)	(2,619)	(2,846)	(666)	(941)					(2,874)	(838)
Accumulated Other Comprehensive Loss
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	0	0	(286)	(586)	(816)	(992)	(1,358)	(2,103)	(2,504)	(2,808)	(586)	(1,358)	(2,808)	(586)	(1,358)	(2,808)	(586)	(1,358)	(2,808)
Other comprehensive income, net of tax			286	300	104	176	366	387	401	304							586	772	1,450
Ending balance	0	0	0	(286)	(712)	(816)	(992)	(1,716)	(2,103)	(2,504)	0	(816)	(2,103)	0	(712)	(1,716)	0	(586)	(1,358)
Accumulated Other Comprehensive Loss \| As Reported
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	$ 0	0	(286)	(586)	(816)	(992)	(1,358)	(2,103)	(2,504)	(2,808)	(586)	(1,358)	(2,808)	(586)	(1,358)	(2,808)	$ (586)	(1,358)	(2,808)
Other comprehensive income, net of tax			286	300	104	176	366	387	401	304								772	1,450
Ending balance		$ 0	$ 0	$ (286)	$ (712)	$ (816)	$ (992)	$ (1,716)	$ (2,103)	$ (2,504)	$ 0	$ (816)	$ (2,103)	$ 0	$ (712)	$ (1,716)		$ (586)	$ (1,358)

Debt - Narrative (Details)					1 Months Ended	3 Months Ended		6 Months Ended	9 Months Ended			12 Months Ended
Debt - Narrative (Details)	May 28, 2023 USD ($)	May 22, 2023 USD ($)	Jan. 09, 2023 USD ($)	Dec. 31, 2020 USD ($)	Apr. 30, 2022 USD ($)	Aug. 29, 2021 USD ($)	Aug. 30, 2020 USD ($)	Nov. 28, 2021 USD ($)	Feb. 26, 2023 USD ($)	Feb. 27, 2022 USD ($)	Feb. 28, 2021 USD ($)	May 28, 2023 USD ($)	May 29, 2022 USD ($)	May 30, 2021 USD ($)	Feb. 07, 2023 USD ($)
Debt Instrument [Line Items]
Debt issuance costs	$ 605,000											$ 605,000	$ 5,534,000
Payments for debt issuance costs						$ 132,000	$ 512,000	$ 132,000	$ 3,669,000	$ 169,000	$ 9,615,000	6,050,000	821,000	$ 10,484,000
Loss on debt extinguishment												23,741,000	0	1,110,000
Embedded derivative liability	64,900,000											64,900,000
Amortization of debt discount	100,000
Line of credit	16,809,000								$ 16,000,000			16,809,000	0
Proceeds from sales of property and equipment						$ 1,082,000	$ 4,855,000	$ 1,082,000		$ 1,096,000	$ 12,885,000	0	1,141,000	$ 12,913,000
Total principal amount of long-term debt	$ 150,233,000											150,233,000	103,712,000
Equipment Sale and Leaseback Agreements
Debt Instrument [Line Items]
Sale leaseback transaction, net book value		$ 10,000,000
Option to repurchase, term		7 years
Proceeds from sales of property and equipment												7,700,000
Sale leaseback transaction difference												$ 2,300,000
Price at end of term		$ 1.00
Quarterly rental payment to be received		0.025
Rental payment, purchase price less cumulative paydown payments made		1.50%
Revolving Credit Facility \| Term loan
Debt Instrument [Line Items]
Effective interest rate	12.16%											12.16%
Total principal amount of long-term debt	$ 16,800,000											$ 16,800,000
Prior Term Loan Facility
Debt Instrument [Line Items]
Debt instrument, face amount				$ 170,000,000
Percent of prepayment penalty				3.00%
Debt prepayment cost		$ 12,900,000
Write off of deferred debt issuance costs		7,500,000
Extinguishment of debt, third party fees		3,300,000
Prior Term Loan Facility \| SOFR
Debt Instrument [Line Items]
Base spread on variable rate				2.00%
Refinanced Revolver
Debt Instrument [Line Items]
Percent of prepayment penalty			3.00%
Refinanced Revolver \| Third Parties
Debt Instrument [Line Items]
Debt issuance costs	62,500											62,500
Refinanced Revolver \| BMO
Debt Instrument [Line Items]
Debt issuance costs	4,200,000											4,200,000
Payments for debt issuance costs												1,100,000
Debt issuance costs, paid-in-kind	$ 3,100,000											3,100,000
Refinanced Revolver \| SOFR
Debt Instrument [Line Items]
Base spread on variable rate			8.50%
Refinanced Revolver \| Base Rate
Debt Instrument [Line Items]
Base spread on variable rate			7.50%
Refinanced Revolver \| Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit, maximum capacity		40,000,000	$ 60,000,000	$ 75,000,000											$ 40,000,000
Line of credit, additional capacity					$ 20,000,000
Debt issuance costs					$ 700,000
Commitment fee percentage			0.375%
Effective interest rate			2.00%
Write off of deferred debt issuance costs												$ 1,200,000
Fees paid to lenders		1,200,000
Line of credit reduction		$ 4,000,000
Coverage ratio		1.00
Availability of line of credit		10.00%
Debt covenant, availability of line of credit, amount		$ 4,000,000
Refinanced Revolver \| Revolving Credit Facility \| At Entry into the Revolving Loan Amendment
Debt Instrument [Line Items]
Fees paid to lenders		800,000
Refinanced Revolver \| Revolving Credit Facility \| Upon Full Repayment Or Change Of Control
Debt Instrument [Line Items]
Fees paid to lenders		400,000
Refinanced Revolver \| Revolving Credit Facility \| Minimum \| SOFR
Debt Instrument [Line Items]
Base spread on variable rate			2.00%
Refinanced Revolver \| Revolving Credit Facility \| Minimum \| Base Rate
Debt Instrument [Line Items]
Base spread on variable rate			1.00%
Refinanced Revolver \| Revolving Credit Facility \| Maximum \| SOFR
Debt Instrument [Line Items]
Base spread on variable rate			2.50%
Refinanced Revolver \| Revolving Credit Facility \| Maximum \| Base Rate
Debt Instrument [Line Items]
Base spread on variable rate			1.50%
Term Loan Credit Agreement
Debt Instrument [Line Items]
Debt instrument, face amount		$ 142,300,000
Debt instrument, interest rate, stated percentage		10.00%
Paid-in-cash interest		3.00%
Guarantor obligations		$ 4,000,000
Term loan \| Term loan
Debt Instrument [Line Items]
Effective interest rate	10.00%											10.00%
Total principal amount of long-term debt	$ 142,503,000											$ 142,503,000	$ 103,712,000

Correction of Errors in Previously Reported Fiscal Year 2022 and 2021 Annual Financial Statements - Fair Value of Assets and Liabilities (Details) $ in Thousands	May 30, 2021 USD ($)
Level 1
Assets:
Assets held for sale	$ 0
Investment in non-public company	0
Total assets	0
Level 1 \| As Reported
Assets:
Assets held for sale	0
Investment in non-public company	0
Total assets	0
Level 1 \| Restatement
Assets:
Investment in non-public company	0
Level 2
Assets:
Assets held for sale	0
Investment in non-public company	0
Total assets	0
Level 2 \| As Reported
Assets:
Assets held for sale	0
Investment in non-public company	0
Total assets	0
Level 2 \| Restatement
Assets:
Investment in non-public company	0
Level 3
Assets:
Assets held for sale	515
Investment in non-public company	44,769
Total assets	45,284
Level 3 \| As Reported
Assets:
Assets held for sale	515
Investment in non-public company	45,100
Total assets	45,615
Level 3 \| Restatement
Assets:
Investment in non-public company	$ (331)

Stock-based Compensation and Stockholders’ Equity - Stock Options Outstanding and Exercisable (Details) - USD ($)	12 Months Ended
	May 28, 2023	May 29, 2022	May 30, 2021
Options Outstanding
Options outstanding, beginning balance (in shares)	1,947,686	1,834,017	1,716,358
Options granted (in shares)	743,050	803,000	682,600
Options exercised (in shares)	(15,474)	(161,415)
Options forfeited and canceled (in shares)	(61,900)	(205,746)	(127,714)
Options expired (in shares)	(239,037)	(322,170)	(437,227)
Options outstanding, ending balance (in shares)	2,374,325	1,947,686	1,834,017
Options exercisable (in shares)	1,470,091
Weighted-Average Exercise Price Per Share
Options outstanding, beginning balance (in dollars per share)	$ 11.13	$ 11.07	$ 12.15
Options granted (in dollars per share)	10.51	11.79	9.66
Options exercised (in dollars per share)	9.57	9.69
Options forfeited and canceled (in dollars per share)	10.69	10.96	9.93
Options expires (in dollars per share)	12.08	13.31	13.42
Options outstanding, ending balance (in dollars per share)	10.88	$ 11.13	$ 11.07
Options exercisable (in dollars per share)	$ 11.01
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Total Intrinsic Value of Options Exercised	$ 12,069	$ 304,211
Weighted average remaining contractual term, options outstanding	3 years 11 months 8 days
Weighted average remaining contractual term, options exercisable	2 years 7 months 20 days
Aggregate intrinsic value, options outstanding	$ 0
Aggregate intrinsic value, options exercisable	$ 0

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	May 28, 2023	May 29, 2022	May 30, 2021
Cash flows from operating activities:
Consolidated net loss	$ (99,563)	$ (116,715)	$ (32,294)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Impairment of goodwill and long-lived and indefinite-lived assets	1,300	78,146	0
Depreciation, amortization of intangibles and amortization of debt costs	13,285	18,061	19,867
Deferred taxes	357	(6,825)	(7,874)
Loss on disposal of property and equipment related to restructuring, net	0	5,185	10,143
Stock-based compensation expense	3,612	2,608	3,360
Loss on Sale of Eat Smart	0	336	0
Net loss on disposal of property and equipment	38	152	61
Provision (benefit) for expected credit losses	163	(14)	940
Change in investment in non-public company, fair value	0	0	11,469
Loss on debt extinguishment	23,741	0	1,110
Non-cash restructuring and impairment of assets charges	640	0	0
Other, net	86	(426)	(74)
Changes in current assets and current liabilities:
Accounts receivable, net	10,824	(6,138)	5,775
Inventory, net	(14,811)	(2,180)	(2,819)
Prepaid expenses and other current assets	2,156	(689)	8,281
Accounts payable	16,038	9,343	(5,982)
Accrued compensation	(4,483)	(2,546)	3,270
Other accrued liabilities	7,166	(873)	810
Deferred revenue	3,136	(18)	428
Net cash (used in) provided by operating activities	(17,441)	(22,593)	16,471
Cash flows from investing activities:
Eat Smart sale net working capital adjustment	0	(9,839)	0
Proceeds from sale of investment in non-public company	0	45,100	0
Purchases of property and equipment	(21,482)	(29,940)	(25,223)
Proceeds from sales of property and equipment	0	1,141	12,913
Net cash (used in) provided by investing activities	(4,811)	79,962	(12,310)
Cash flows from financing activities:
Proceeds from long-term debt	150,000	20,000	170,000
Payments on long-term debt	(123,690)	(86,411)	(114,130)
Proceeds from line of credit	31,450	55,111	100,000
Payments on line of credit	(54,640)	(44,111)	(148,400)
Payments for debt issuance costs	(6,050)	(821)	(10,484)
Taxes paid by Company for employee stock plans	(274)	(789)	(405)
Proceeds from sale of common stock, net of issuance costs	4,822	0	0
Proceeds from sale of preferred stock, net of issuance costs	38,082	0	0
Net cash provided by (used in) financing activities	39,700	(57,021)	(3,419)
Net increase in cash, cash equivalents and restricted cash	17,448	348	742
Cash, cash equivalents and restricted cash, beginning of period	1,643	1,295	553
Cash, cash equivalents and restricted cash, end of period	19,091	1,643	1,295
Supplemental disclosure of cash flow information:
Cash paid during the period for interest	31,024	16,888	13,223
Cash paid during the period for income taxes, net of refunds received	23	441	(7,680)
Supplemental disclosure of non-cash investing and financing activities:
Purchases of property and equipment on trade vendor credit	6,945	2,260	4,724
Convertible Preferred Stock Paid in Kind (PIK) dividend	(1,163)	0	0
Debt Derivative	64,900	0	0
BreatheWay
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Gain (loss) on disposition of business	(2,108)	0	0
Cash flows from investing activities:
Proceeds from divestiture of businesses	3,135	0	0
Yucatan Foods
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Gain (loss) on disposition of business	20,663	0	0
Cash flows from investing activities:
Proceeds from divestiture of businesses	11,803	0	0
O Olive
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Gain (loss) on disposition of business	319	0	0
Cash flows from investing activities:
Proceeds from divestiture of businesses	1,733	0	0
Eat Smart
Cash flows from investing activities:
Proceeds from divestiture of businesses	$ 0	$ 73,500	$ 0

Organization, Basis of Presentation, and Summary of Significant Accounting Policies - Impairment Review of Intangible Assets and Business Interruption Insurance Recoveries (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Nov. 27, 2022	May 28, 2023	May 29, 2022
Eat Smart
Organization, Basis of Presentation, and Summary of Significant Accounting Policies [Line Items]
Goodwill impairment loss			$ 32.1
Yucatan Foods
Organization, Basis of Presentation, and Summary of Significant Accounting Policies [Line Items]
Goodwill impairment loss			20.0
Yucatan Foods \| Trademarks
Organization, Basis of Presentation, and Summary of Significant Accounting Policies [Line Items]
Intangible assets		$ 1.0	$ 8.4
O Olive & Vinegar \| Trademarks
Organization, Basis of Presentation, and Summary of Significant Accounting Policies [Line Items]
Intangible assets	$ 0.3

Organization, Basis of Presentation, and Summary of Significant Accounting Policies - Derivative Liabilities Assumptions (Details) - Derivative	May 28, 2023
Discount rate \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Derivative Liability	0.223
Discount rate \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Derivative Liability	0.245
Implied spread \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Derivative Liability	0.185
Risk free rate \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Derivative Liability	0.038
Risk free rate \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Derivative Liability	0.060

Restructuring Costs (Tables)

12 Months Ended

May 28, 2023

Restructuring and Related Activities [Abstract]

Restructuring and Related Costs

The following table summarizes the restructuring costs recognized in the Company’s Consolidated Statements of Operations for the fiscal year ended May 28, 2023:


(In thousands)	For the Year Ended
Year Ended May 28, 2023		May 28, 2023		May 29, 2022		May 30, 2021
				As Restated		As Restated
Asset write-off costs		$	—	$	3,127	$	8,359
Employee severance and benefit costs		2,542		405		180
Lease costs		96		2,072		1,774
Other restructuring costs		1,546		2,755		3,042
Total restructuring costs		$	4,184	$	8,359	$	13,355

The following table summarizes the restructuring costs recognized in the Company’s Consolidated Statements of Operations since inception of the restructuring plan in fiscal year 2020 through the fiscal year ended May 28, 2023, excluding discontinued operations:



(In thousands)	Total
Asset write-off costs	$	13,893
Employee severance and benefit costs	4,099
Lease costs	4,114
Other restructuring costs	7,850
Total restructuring costs	$	29,956

Organization, Basis of Presentation, and Summary of Significant Accounting Policies (Policies)	12 Months Ended
	May 28, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Refinancing Transactions	The Company incurred debt origination costs related to the refinancing transactions and amortizes these costs over the life of the related debt using the straight-line method, which approximates the effective interest method. The unamortized portion of debt origination costs is recorded on the consolidated balance sheets as an offset to its related debt. Amortization of debt origination costs is included as a component of interest expense in the consolidated statements of operations.
Basis of Presentation and Consolidation	Basis of Presentation and Consolidation The consolidated financial statements are presented on the accrual basis of accounting in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”) and include the accounts of Lifecore Biomedical and its subsidiaries, Curation Foods and Lifecore. All material inter-company transactions and balances have been eliminated. The Company’s fiscal year is the 52- or 53-week period that ends on the last Sunday of May with quarters within each year ending on the last Sunday of August, November, and February; however, in instances where the last Sunday would result in a quarter being 12-weeks in length, the Company’s policy is to extend that quarter to the following Sunday. A 14th week is included in the fiscal year every five or six years to realign the Company’s fiscal quarters with calendar quarters.
Basis of Presentation and Consolidation	Basis of Presentation and Consolidation The consolidated financial statements are presented on the accrual basis of accounting in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”) and include the accounts of Lifecore Biomedical and its subsidiaries, Curation Foods and Lifecore. All material inter-company transactions and balances have been eliminated. The Company’s fiscal year is the 52- or 53-week period that ends on the last Sunday of May with quarters within each year ending on the last Sunday of August, November, and February; however, in instances where the last Sunday would result in a quarter being 12-weeks in length, the Company’s policy is to extend that quarter to the following Sunday. A 14th week is included in the fiscal year every five or six years to realign the Company’s fiscal quarters with calendar quarters.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make certain estimates and judgments that affect the amounts reported in the financial statements and accompanying notes. The accounting estimates that require management’s most significant and subjective judgments include revenue recognition; loss contingencies; sales returns and credit losses; recognition and measurement of current and deferred income tax assets and liabilities; the assessment of recoverability of long-lived and indefinite lived assets (including intangible assets and goodwill), and inventory; and the valuation and recognition of stock-based compensation; and the valuation of debt derivative liability. These estimates involve the consideration of complex factors and require management to make judgments. The analysis of historical and future trends can require extended periods of time to resolve and are subject to change from period to period. The actual results may differ from management’s estimates.
Concentrations of Risk	Concentrations of Risk Cash and cash equivalents and trade accounts receivable are financial instruments that potentially subject the Company to concentrations of credit risk. Our Company policy limits, among other things, the amount of credit exposure to any one issuer and to any one type of investment, other than securities issued or guaranteed by the U.S. government. The Company routinely assesses the financial strength of customers and, as a consequence, believes that trade receivables credit risk exposure is limited. Credit losses for bad debt are provided for in the consolidated financial statements through a charge to operations. A valuation allowance is provided for known and anticipated credit losses. The recorded amounts for these financial instruments approximate their fair value. Several of the raw materials the Company uses to manufacture its products are currently purchased from a single source, including raw materials for its HA products.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. Recoverability of assets is measured by comparison of the carrying amount of the asset to the net undiscounted future cash flow expected to be generated from the asset. If the future undiscounted cash flows are not sufficient to recover the carrying value of the assets, the assets’ carrying value is adjusted to fair value. The Company regularly evaluates its long-lived assets for indicators of possible impairment.
Financial Instruments	Financial Instruments The Company’s financial instruments are primarily composed of commercial-term trade payables, debt instruments, and derivative instruments. For short-term instruments, the historical carrying amount approximates the fair value of the instrument. The fair value of long-term debt and line of credit approximates their carrying value. Cash Flow Hedges The Company has entered into interest rate swap agreements to manage interest rate risk. These derivative instruments may offset a portion of the changes in interest expense. The Company designates these derivative instruments as cash flow hedges. The Company accounts for its derivative instruments as either an asset or a liability and carries them at fair value in Other assets or Other non-current liabilities. The accounting for changes in the fair value of the derivative instrument depends on the intended use of the derivative instrument and the resulting designation. For derivative instruments that hedge the exposure to variability in expected future cash flows and are designated as cash flow hedges, the entire change in the fair value of the hedging instrument is recorded as a component of Accumulated other comprehensive loss (“AOCL”) in Stockholders’ Equity (Deficit). Those amounts are subsequently reclassified to earnings in the same line item in the Consolidated Statement of Operations as impacted when the hedged item affects earnings. To receive hedge accounting treatment, cash flow hedges must be highly effective in offsetting changes to expected future cash flows on hedged transactions. During the third quarter of fiscal year 2021, the Company discontinued its hedge accounting prospectively since it was determined that the derivatives are no longer highly effective in offsetting changes in the net investment. The derivatives continue to be carried at fair value in the accompanying Consolidated Balance Sheets with changes in their fair values from the date of discontinued hedge accounting recognized in current period earnings in other income (expense), net in the Consolidated Statements of Operations. Amounts previously accumulated in AOCL during the period of effectiveness will continue to be realized over the remaining term of the underlying forecasted debt payments as a component of AOCL in Stockholders’ Equity (Deficit). Derivative Financial Instruments The Company accounts for put and call options embedded in the term debt in accordance with ASC Topic 815, Derivatives and Hedging. ASC Topic 815 generally requires companies to bifurcate put and call options embedded in the New Term Loan Credit Facility (as defined in Note 6) from their host instruments and to account for them as free standing derivative financial instruments. In circumstances where the host instrument contains more than one embedded derivative instrument that is required to be bifurcated, the bifurcated derivative instruments are accounted for as separate derivative instruments. The fair value of the embedded features are accounted for as a derivative liability in the Company’s consolidated balance sheets and adjusted to fair value each reporting period. The change in fair value of derivatives is recorded as a component of other income (expense) in the Company’s Consolidated Statements of Operations. Accumulated Other Comprehensive Loss Comprehensive income consists of two components, Net loss and Other comprehensive (loss) income (“OCI”). OCI refers to revenue, expenses, and gains and losses that under GAAP are recorded as a component of stockholders’ equity but are excluded from net loss. The Company’s OCI consists of net deferred gains and losses on its interest rate swap derivative instruments.
Accounts Receivable, Sales Returns and Allowance for Credit Losses	Accounts Receivable, Sales Returns and Allowance for Credit Losses The Company carries its accounts receivable at their face amounts less an allowance for estimated sales returns and credit losses. Sales return allowances are estimated based on historical sales return amounts. The Company uses the loss rate method to estimate its expected credit losses on trade accounts receivable and contract assets. In order to estimate expected credit losses, the Company assessed recent historical experience, current economic conditions and any reasonable and supportable forecast to identify risk characteristics that are shared within the financial asset. These risk characteristics are then used to bifurcate the loss rate method into risk pools. The risk pools were determined based on the industries in which the Company operates. Historical credit loss for each risk pool is then applied to the current period aging as presented in the identified risk pool to determine the needed reserve allowance. At times when there are no current economic conditions or forecasts that may affect future credit losses, the Company has determined that recent historical experience provides the best basis for estimating credit losses. The information obtained from assessing historical experience, current economic conditions and reasonable and supportable forecasts were used to identify risk characteristics that can affect future credit loss experience. There were no significant risk characteristics identified in the review of historical experiences or in the review of estimates of current economic conditions and forecasts. Estimating credit losses based on risk characteristics requires significant judgment by management. Significant judgments include, but are not limited to: assessing current economic conditions and the extent to which they are relevant to the existing characteristics of the Company’s financial assets, the estimated life of financial assets, and the level of reliance on historical experience in light of economic conditions. The Company will continually review and update, when necessary, its historical risk characteristics that are meaningful to estimating credit losses, any new risk characteristics that arise in the natural course of business, and the estimated life of its financial assets.
Revenue Recognition and Deferred Revenue	Contract assets primarily relate to the Company’s conditional right to consideration for work completed but not billed at the reporting date.Contract liabilities primarily relate to payments received from customers in advance of performance under the contract. Revenue Recognition The Company follows the five step, principles-based model to recognize revenue upon the transfer of promised goods or services to customers and in an amount that reflects the consideration for which the Company expects to be entitled in exchange for those goods or services. Revenue, net of estimated allowances and returns, is recognized when or as the Company satisfies its performance obligations under a contract and control of the product is transferred to the customer. Lifecore generates revenue from two integrated activities: CDMO and Fermentation. CDMO is comprised of aseptic and development services. Lifecore’s standard terms of sale are generally included in its contracts and purchase orders. Shipping and other transportation costs charged to customers are recorded in both revenue and cost of goods sold. Lifecore has elected to account for shipping and handling as fulfillment activities, and not as a separate performance obligation. Lifecore’s standard payment terms with its customers generally range from 30 days to 60 days. Aseptic Lifecore provides aseptic formulation and filling of syringes and vials with precisely formulated medical grade HA and non-HA materials for injectable products used for medical purposes. In instances where our customers contract with us to aseptically fill syringes or vials with our HA, the goods are not distinct in the context of the contract. Lifecore recognizes revenue for these products at the point in time when legal title to the product is transferred to the customer, which is at the time that shipment is made or upon delivery of the product. Development Services Lifecore provides product development services to assist its customers in obtaining regulatory approval for the commercial sale of their drug product. These services include activities such as technology development, material component changes, analytical method development, formulation development, pilot studies, stability studies, process validation and production of materials for use within clinical studies. The Company’s customers benefit from the expertise of its scientists who have extensive experience performing such tasks. Each of the promised goods and services are not distinct in the context of the contract as the goods and services are highly interdependent and interrelated. The services described above are significantly affected by each other because Lifecore would not be able to fulfill its promise by transferring each of the goods or services independently. Revenues generated from development services arrangements are recognized over time as Lifecore is creating an asset without an alternate use as it is unique to the customer. Furthermore, the Company has an enforceable right to payment for the performance completed to date for its costs incurred in satisfying the performance obligation plus a reasonable profit margin. For each of the development activities performed by Lifecore as described above, labor is the primary input (i.e., labor costs represent the majority of the costs incurred in the completion of the services). The Company determined that labor hours are the best measure of progress as it most accurately depicts the effort extended to satisfy the performance obligation over time and therefore recognizes development services revenue over time based on the proportion of labor hours incurred compared to total estimated hours for an individual arrangement. Fermentation Lifecore manufactures and sells pharmaceutical-grade sodium hyaluronate (“HA”) in bulk form to its customers. The HA produced is distinct as customers are able to utilize the product provided under HA supply contracts when they obtain control. Lifecore recognizes revenue for these products at the point in time when legal title to the product is transferred to the customer, which is at the time that shipment is made or upon delivery of the product to our customer. During the fourth fiscal quarter, the Company entered into a bill-and-hold arrangement with a customer under which $3.2 million of product sales were recognized in the year ended May 28, 2023. Revenue for bill-and-hold arrangements is recognized when control transfers to the customer, even though the customer does not have physical possession of the goods. Control transfers when the bill-and-hold arrangement has been determined to have substantive reason, the product is identified as belonging to the customer, the product is ready for physical transfer to the customer and the product cannot be used or directed to another customer. Deferred Revenue Cash received in advance of services performed are recorded as deferred revenue.
Shipping and Handling Costs	Shipping and Handling Costs Amounts billed to third-party customers for shipping and handling are included as a component of revenues. Shipping and handling costs incurred are included as a component of cost of products sold and represent costs incurred to ship products from the processing facility or distribution center to the end consumer markets.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company records all highly liquid securities with three months or less from date of purchase to maturity as cash equivalents. Cash equivalents consist mainly of money market funds. The market value of cash equivalents approximates their historical cost given their short-term nature.
Inventories	Inventories Inventories are stated at the lower of cost (using the first-in, first-out method) or net realizable value. If the cost of the inventories exceeds their net realizable value, provisions are recorded currently to reduce them to net realizable value. The Company also records a provision for slow moving and obsolete inventories based on the estimate of demand for its products. The Company recorded adjustments of $4.9 million and $4.6 million to record inventory to its net realizable value as of May 28, 2023 and May 29, 2022, respectively. The amounts reflected in costs of goods sold to record inventory to its net realizable value were expense of $0.3 million and expense of $3.5 million for fiscal years 2023 and 2022, respectively.
Advertising Expense	Advertising Expense Advertising expenditures for the Company are expensed as incurred and included in selling, general, and administrative in the accompanying Consolidated Statements of Operations.
Related Party Transactions	All related party transactions are monitored quarterly by the Company and approved by the Audit Committee of the Board of Directors.
Property and Equipment and Finite-Lived Intangible Assets	Property and Equipment and Finite-Lived Intangible Assets Property and equipment and finite-lived intangible assets are stated at cost. Expenditures for major improvements are capitalized while repairs and maintenance are charged to expense. Depreciation is expensed on a straight-line basis over the estimated useful lives of the respective assets. Customer relationships are amortized to operating expense on an accelerated basis that reflects the pattern in which the economic benefits are consumed. Leasehold improvements are amortized on a straight-line basis over the lesser of the economic life of the improvement or the life of the lease. Depreciation and amortization expense for these assets is recorded either in cost of product sales or selling, general and administrative expenses in the consolidated statement of operations, depending on the asset and its intended use. The Company capitalizes interest on long-term construction in process projects based on their incremental borrowing rate. The Company capitalizes software development costs for internal use. Capitalization of software development costs begins in the application development stage and ends when the asset is placed into service. The Company amortizes such costs on a straight-line basis over estimated useful lives of three to seven years, and the amortization expenses is recorded either in cost of product sales or selling, general and administrative expenses in the consolidated statement of operations, depending on the asset and its intended use. Property, plant and equipment and finite-lived intangible assets are reviewed for possible impairment whenever events or changes in circumstances occur that indicate that the carrying amount of an asset (or asset group) may not be recoverable. The Company’s impairment review requires significant management judgment including estimating the future success of product lines, future sales volumes, revenue and expense growth rates, alternative uses for the assets and estimated proceeds from the disposal of the assets. The Company conducts quarterly reviews of idle and underutilized equipment, and reviews business plans for possible impairment indicators. Impairment is indicated when the carrying amount of the asset (or asset group) exceeds its estimated future undiscounted cash flows and the impairment is viewed as other than temporary. When impairment is indicated, an impairment charge is recorded for the difference between the asset’s book value and its estimated fair value. Depending on the asset, estimated fair value may be determined either by use of a discounted cash flow model or by reference to estimated selling values of assets in similar condition. The use of different assumptions would increase or decrease the estimated fair value of assets and would increase or decrease any impairment measurement. During fiscal year 2022, the Company recorded impairment charges of $5.8 million and $11.9 million related to Yucatan's customer relationships, and property & equipment, respectively. These impairment charges were primarily a result of an indication of a decrease in the fair market values of the Yucatan businesses driven by lower market valuations and a decrease in projected cash flows. The Yucatan related impairment charges are included in Loss from discontinued operations on the Consolidated Statements of Operations.
Impairment Review of Goodwill and Indefinite-Lived Intangible Asset	Impairment Review of Goodwill and Indefinite-Lived Intangible Asset The Company tests its goodwill and trademarks with indefinite lives annually for impairment in the fiscal fourth quarter or earlier if there are indications during a different interim period that these assets may have become impaired. On a quarterly basis, the Company considers the need to update its most recent annual tests for possible impairment of its indefinite-lived intangible assets and goodwill, based on management’s assessment of changes in its business and other economic factors since the most recent annual evaluation. Such changes, if significant or material, could indicate a need to update the most recent annual tests for impairment of the indefinite-lived intangible assets during the current period. The results of these tests could lead to write-downs of the carrying values of these assets in the current period. With respect to goodwill, the Company has the option to first assess qualitative factors such as macro-economic conditions, industry and market environment, cost factors, overall financial performance of the Company, cash flow from operating activities, market capitalization, litigation, and stock price. If the result of a qualitative test indicates a potential for impairment of a reporting unit, a quantitative test is performed. The quantitative test compares the carrying amount of a reporting unit that includes goodwill to its fair value. The Company determines the fair value using a 50/50 weighting of the income and market approaches. To determine the fair value of a reporting unit as part of its quantitative test, the Company uses a discounted cash flow (“DCF”) method under the income approach, as it believes that this approach is the most reliable indicator of the fair value of its businesses and the fair value of their future earnings and cash flows. Under this approach, which requires significant judgments, the Company estimates the future cash flows of each reporting unit and discounts these cash flows at a rate of return that reflects their relative risk and rate of return an outside investor could expect to earn. The cash flows used in the DCF method are consistent with those the Company uses in its internal planning, which gives consideration to actual business trends experienced, and the broader business strategy for the long term. The other key estimates and factors used in the DCF method include, but are not limited to, future volumes, net sales and expense growth rates, and gross margin and gross margin growth rates. Changes in such estimates or the application of alternative assumptions could produce different results. A goodwill impairment loss is recognized for the amount that the carrying amount of a reporting unit, including goodwill, exceeds its fair value, limited to the total amount of goodwill allocated to that reporting unit. For trademarks and other intangible assets with indefinite lives, the Company has the option to first assess qualitative factors such as macro-economic conditions, industry and market environment, cost factors, overall financial performance of the Company, litigation, and changes in the business in its annual, qualitative analysis to test for impairment. If the results of a qualitative test indicate a potential for impairment of an intangible asset with an indefinite life, a quantitative test is performed. The quantitative test compares the estimated fair value of an asset to its carrying amount. If the carrying amount of such asset exceeds its estimated fair value, an impairment charge is recorded for the difference between the carrying amount and the estimated fair value. The Company uses the income approach to estimate the fair value of its trademarks. This approach requires significant judgments in determining the royalty rates and the assets’ estimated cash flows as well as the appropriate discount rates applied to those cash flows to determine fair value. Changes in such estimates or the use of alternative assumptions could produce different results.
Leases	Leases Under Topic 842, the Company determines if an arrangement is a lease at inception. Right-of-use (“ROU”) assets and liabilities are recognized at commencement date based on the present value of remaining lease payments over the lease term. For this purpose, the Company considers only payments that are fixed and determinable at the time of commencement. As most of the leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments. The incremental borrowing rate is a quoted rate based on the understanding of what the Company’s credit rating would be. Certain agreements may contain the option to extend the lease term, terminate the lease before the contractual expiration date, or purchase the leased asset. The Company, when reasonably certain to exercise the option, considers these options in determining the measurement of the lease. The Company’s lease agreements do not contain any material residual value guarantees. The Company’s lease agreements generally contain lease and non-lease components. Non-lease components primarily include payments for maintenance and utilities. The Company combines fixed payments for non-lease components with lease payments and accounts for them together as a single lease component which increases the amount of lease assets and liabilities. Payments under lease arrangements are primarily fixed; however, certain lease agreements contain variable payments, which are expensed as incurred and are not included in the operating lease assets and liabilities. These amounts primarily include payments affected by changes in price indices.
Investments in Non-Public Company	Investment in Non-Public Company On February 15, 2011, the Company made an investment in Windset which is reported at fair value in the accompanying Consolidated Balance Sheets as of May 30, 2021. The Company has elected to account for its investment in Windset under the fair value option. See Note 1 – Organization, Basis of Presentation, and Summary of Significant Accounting Policies for further information. On June 1, 2021, the Company sold all of its equity interest in Windset to the Newell Capital Corporation and Newell Brothers Investment 2 Corp.
Income Taxes	Income Taxes The Company accounts for income taxes in accordance with accounting guidance which requires that deferred tax assets and liabilities be recognized using enacted tax rates for the effect of temporary differences between the book and tax basis of recorded assets and liabilities. The Company maintains valuation allowances when it is likely that all or a portion of a deferred tax asset will not be realized. Changes in valuation allowances from period to period are included in the Company’s income tax provision in the period of change. In determining whether a valuation allowance is warranted, the Company considers such factors as prior earnings history, expected future earnings, unsettled circumstances that, if unfavorably resolved, would adversely affect utilization of a deferred tax asset, carryback and carryforward periods and tax strategies that could potentially enhance the likelihood of realization of a deferred tax asset. In addition to valuation allowances, the Company establishes accruals for uncertain tax positions. The tax-contingency accruals are adjusted in light of changing facts and circumstances, such as the progress of tax audits, case law and emerging legislation. The Company recognizes interest and penalties related to uncertain tax positions as a component of income tax expense. The Company’s effective tax rate includes the impact of tax-contingency accruals as considered appropriate by management. A number of years may elapse before a particular matter, for which the Company has accrued, is audited and finally resolved. The number of years with open tax audits varies by jurisdiction. While it is often difficult to predict the final outcome or the timing of resolution of any particular tax matter, the Company believes its tax-contingency accruals are adequate to address known tax contingencies. Favorable resolution of such matters could be recognized as a reduction to the Company’s effective tax rate in the year of resolution. Unfavorable settlement of any particular issue could increase the Company’s effective tax rate in the year of resolution. Any resolution of a tax issue may require the use of cash in the year of resolution. The Company’s tax-contingency accruals are recorded in Other accrued liabilities in the accompanying Consolidated Balance Sheets.
Per Share Information	Per Share Information Accounting guidance requires the presentation of basic and diluted earnings per share. Basic earnings per share exclude any dilutive effects of options, warrants and convertible securities and is computed using the weighted average number of common shares outstanding. Diluted earnings per share reflect the potential dilution as if securities or other contracts to issue Common Stock were exercised or converted into Common Stock. Diluted common equivalent shares consist of stock options and restricted stock units, calculated using the treasury stock method.
Research and Development Expenses	Research and Development Expenses Costs related to both research and development contracts and Company-funded research is included in research and development expenses. Research and development costs are primarily comprised of salaries and related benefits, supplies, travel expenses, consulting expenses and corporate allocations.
Accounting for Stock-Based Compensation	Accounting for Stock-Based Compensation The Company’s stock-based awards include stock option grants and RSUs. The Company records compensation expense for stock-based awards issued to employees and directors in exchange for services provided based on the estimated fair value of the awards on their grant dates and is recognized over the required service periods, generally the vesting period. The estimated fair value for stock options, which determines the Company’s calculation of stock-based compensation expense, is based on the Black-Scholes option pricing model. The use of Black-Scholes requires the Company to make estimates and assumptions, such as expected volatility, expected term, and risk-free interest rate. RSUs are valued at the closing market price of the Company’s Common Stock on the date of grant. The Company uses the straight-line single option method to calculate and recognize the fair value of stock-based compensation arrangements.
Employee Savings and Investment Plans	Employee Savings and Investment Plans The Company sponsors a 401(k) plan (“Lifecore Plan”), which is available to all full-time Lifecore Biomedical employees and allows participants to contribute from 1% to 50% of their salaries, up to the Internal Revenue Service limitation into designated investment funds. The Company matches 100% on the first 3% and 50% on the next 2% contributed by an employee. Employee and Company contributions are fully vested at the time of the contributions. The Company retains the right, by action of the Board of Directors, to amend, modify, or terminate the plan.
Fair Value Measurements	Fair Value Measurements The Company uses fair value measurement accounting for financial assets and liabilities and for financial instruments and certain other items measured at fair value. The Company has not elected the fair value option for any of its other eligible financial assets or liabilities. Applicable accounting guidance establishes a three-tier hierarchy for fair value measurements, which prioritizes the inputs used in measuring fair value as follows: Level 1 – observable inputs such as quoted prices for identical instruments in active markets. Level 2 – inputs other than quoted prices in active markets that are observable either directly or indirectly through corroboration with observable market data. Level 3 – unobservable inputs in which there is little or no market data, which would require the Company to develop its own assumptions.
Accounting Pronouncements	Accounting Pronouncements On January 9, 2023, upon the issuance of the Series A Convertible Preferred Stock (as defined in Note 2– Convertible Preferred Stock), the Company adopted ASU No. 2020-06, “Debt — Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging — Contracts in Entity’s Own Equity (Subtopic 815-40)”. This ASU simplified the accounting for certain financial instruments with characteristics of liabilities and equity. The FASB reduced the number of accounting models for convertible debt and convertible preferred stock instruments and made certain disclosure amendments to improve the information provided to users. We do not expect that any recently issued accounting pronouncements will have a material effect on our financial statements.

Correction of Errors in Previously Reported Fiscal Year 2022 and 2021 Annual Financial Statements - Diluted Net (Loss) Income Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended											6 Months Ended			9 Months Ended			12 Months Ended
	May 28, 2023	Feb. 26, 2023	Nov. 27, 2022	Aug. 28, 2022	May 29, 2022	Feb. 27, 2022	Nov. 28, 2021	Aug. 29, 2021	Feb. 28, 2021	Nov. 29, 2020	Aug. 30, 2020	Nov. 27, 2022	Nov. 28, 2021	Nov. 29, 2020	Feb. 26, 2023	Feb. 27, 2022	Feb. 28, 2021	May 28, 2023	May 29, 2022	May 30, 2021
Numerator:
Net loss		$ (36,507)	$ (12,806)	$ (10,966)		$ (13,586)	$ (38,471)	$ (9,387)	$ (6,978)	$ (11,623)	$ (12,410)	$ (23,772)	$ (47,858)	$ (24,033)	$ (60,279)	$ (61,444)	$ (31,011)	$ (99,563)	$ (116,715)	$ (32,294)
Denominator:
Weighted average shares for basic net loss per share (in shares)		30,304	29,634	29,577		29,482	29,471	29,424	29,323	29,280	29,242	29,605	29,448	29,261	29,838	29,459	29,282	29,958	29,466	29,294
Weighted average shares for diluted net loss per share (in shares)		30,304	29,634	29,577		29,482	29,471	29,424	29,323	29,280	29,242	29,605	29,448	29,261	29,838	29,459	29,282	29,958	29,466	29,294
Diluted net loss per share (in dollars per share)	$ (1.32)	$ (1.20)	$ (0.43)	$ (0.37)	$ (1.88)	$ (0.46)	$ (1.31)	$ (0.32)	$ (0.24)	$ (0.40)	$ (0.42)	$ (0.80)	$ (1.63)	$ (0.82)	$ (2.02)	$ (2.09)	$ (1.06)	$ (3.32)	$ (3.97)	$ (1.10)
Discontinued Operations
Numerator:
Net loss		$ 0	$ 0	$ 0		$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0		$ 0	$ 0
Denominator:
Weighted average shares for basic net loss per share (in shares)		0	0	0		0	0	0	0	0	0	0	0	0	0	0	0		0	0
Weighted average shares for diluted net loss per share (in shares)		0	0	0		0	0	0	0	0	0	0	0	0	0	0	0		0	0
Diluted net loss per share (in dollars per share)		$ 0	$ 0	$ 0		$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0		$ 0	$ 0
As Reported
Numerator:
Net loss		$ (40,192)	$ (12,449)	$ (11,351)		$ (13,086)	$ (38,441)	$ (9,477)	$ (5,498)	$ (13,301)	$ (11,000)	$ (23,800)	$ (47,918)	$ (24,301)	$ (63,992)		$ (29,799)		$ (114,679)	$ (32,665)
Denominator:
Weighted average shares for basic net loss per share (in shares)		30,304	29,634	29,577		29,482	29,471	29,424	29,323	29,280	29,242	29,605	29,448	29,261	29,838		29,282		29,466	29,294
Weighted average shares for diluted net loss per share (in shares)		30,304	29,634	29,577		29,482	29,471	29,424	29,323	29,280	29,242	29,605	29,448	29,261	29,838		29,282		29,466	29,294
Diluted net loss per share (in dollars per share)		$ (1.33)	$ (0.42)	$ (0.38)		$ (0.45)	$ (1.30)	$ (0.32)	$ (0.19)	$ (0.45)	$ (0.38)	$ (0.80)	$ (1.63)	$ (0.83)	$ (2.14)		$ (1.02)		$ (3.90)	$ (1.12)
Restatement
Numerator:
Net loss		$ 3,685	$ (357)	$ 385		$ (500)	$ (30)	$ 90	$ (1,480)	$ 1,678	$ (1,410)	$ 28	$ 60	$ 268	$ 3,713		$ (1,212)		$ (2,036)	$ 371
Denominator:
Weighted average shares for basic net loss per share (in shares)		0	0	0		0	0	0	0	0	0	0	0	0	0		0		0	0
Weighted average shares for diluted net loss per share (in shares)		0	0	0		0	0	0	0	0	0	0	0	0	0		0		0	0
Diluted net loss per share (in dollars per share)		$ 0.13	$ (0.01)	$ 0.01		$ (0.01)	$ (0.01)	$ 0	$ (0.05)	$ 0.05	$ (0.04)	$ 0	$ 0	$ 0.01	$ 0.12		$ (0.04)		$ (0.07)	$ 0.02
As Restated
Numerator:
Net loss		$ (36,507)	$ (12,806)	$ (10,966)		$ (13,586)	$ (38,471)	$ (9,387)	$ (6,978)	$ (11,623)	$ (12,410)	$ (23,772)	$ (47,858)	$ (24,033)	$ (60,279)		$ (31,011)		$ (116,715)	$ (32,294)
Denominator:
Weighted average shares for basic net loss per share (in shares)		30,304	29,634	29,577		29,482	29,471	29,424	29,323	29,280	29,242	29,605	29,448	29,261	29,838		29,282		29,466	29,294
Weighted average shares for diluted net loss per share (in shares)		30,304	29,634	29,577		29,482	29,471	29,424	29,323	29,280	29,242	29,605	29,448	29,261	29,838		29,282		29,466	29,294
Diluted net loss per share (in dollars per share)		$ (1.20)	$ (0.43)	$ (0.37)		$ (0.46)	$ (1.31)	$ (0.32)	$ (0.24)	$ (0.40)	$ (0.42)	$ (0.80)	$ (1.63)	$ (0.82)	$ (2.02)		$ (1.06)		$ (3.97)	$ (1.10)

Organization, Basis of Presentation, and Summary of Significant Accounting Policies - Components of Other Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended								6 Months Ended			9 Months Ended			12 Months Ended
	Nov. 27, 2022	Aug. 28, 2022	Feb. 27, 2022	Nov. 28, 2021	Aug. 29, 2021	Feb. 28, 2021	Nov. 29, 2020	Aug. 30, 2020	Nov. 27, 2022	Nov. 28, 2021	Nov. 29, 2020	Feb. 26, 2023	Feb. 27, 2022	Feb. 28, 2021	May 28, 2023	May 29, 2022	May 30, 2021
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Other comprehensive income before reclassifications, net of tax effect																	$ (344)
Amounts reclassified from OCI															$ 586	$ 772	1,794
Other comprehensive income, net	$ 286	$ 300	$ 104	$ 176	$ 366	$ 387	$ 401	$ 304	$ 586	$ 542	$ 705	$ 586	$ 646	$ 1,092	586	772	1,450
Accumulated Other Comprehensive Loss
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance		(586)			(1,358)			(2,808)	$ (586)	$ (1,358)	$ (2,808)	$ (586)	$ (1,358)	$ (2,808)	(586)	(1,358)	(2,808)
Other comprehensive income, net	$ 286	$ 300	$ 104	$ 176	$ 366	$ 387	$ 401	$ 304							586	772	1,450
Ending balance															$ 0	$ (586)	$ (1,358)

- Definition

Amount of equity (deficit) attributable to parent and noncontrolling interest. Excludes temporary equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483421/250-10-45-24

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Section 65
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-URI https://asc.fasb.org//1943274/2147479654/326-10-65-5

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Section 65
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-URI https://asc.fasb.org//1943274/2147480528/815-20-65-6

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 29: http://www.xbrl.org/2003/role/exampleRef
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Reference 30: http://www.xbrl.org/2003/role/disclosureRef
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Reference 36: http://www.xbrl.org/2003/role/disclosureRef
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Reference 37: http://www.xbrl.org/2003/role/disclosureRef
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Reference 38: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 39: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 40: http://www.xbrl.org/2009/role/commonPracticeRef
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-URI https://asc.fasb.org//1943274/2147481175/810-10-55-4I

+ Details

Unaudited Quarterly Consolidated Financial Information - Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended									6 Months Ended			9 Months Ended			12 Months Ended
	Feb. 26, 2023	Nov. 27, 2022	Aug. 28, 2022	Feb. 27, 2022	Nov. 28, 2021	Aug. 29, 2021	Feb. 28, 2021	Nov. 29, 2020	Aug. 30, 2020	Nov. 27, 2022	Nov. 28, 2021	Nov. 29, 2020	Feb. 26, 2023	Feb. 27, 2022	Feb. 28, 2021	May 28, 2023	May 29, 2022	May 30, 2021
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net loss	$ (36,507)	$ (12,806)	$ (10,966)	$ (13,586)	$ (38,471)	$ (9,387)	$ (6,978)	$ (11,623)	$ (12,410)	$ (23,772)	$ (47,858)	$ (24,033)	$ (60,279)	$ (61,444)	$ (31,011)	$ (99,563)	$ (116,715)	$ (32,294)
Other comprehensive income, net of tax:
Net unrealized gains on interest rate swaps, net of tax		286	300	104	176	366	387	401	304	586	542	705	586	646	1,092	586	772	1,450
Other comprehensive income, net		286	300	104	176	366	387	401	304	586	542	705	586	646	1,092	586	772	1,450
Total comprehensive loss	(36,507)	(12,520)	(10,666)	(13,482)	(38,295)	(9,021)	(6,591)	(11,222)	(12,106)	(23,186)	(47,316)	(23,328)	(59,693)	(60,798)	(29,919)	$ (98,977)	(115,943)	(30,844)
Discontinued Operations
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net loss	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0		0	0
Other comprehensive income, net of tax:
Net unrealized gains on interest rate swaps, net of tax		0	0	0	0	0	0	0	0	0	0	0	0	0	0		0	0
Other comprehensive income, net		0	0	0	0	0	0	0	0	0	0	0	0	0	0		0	0
Total comprehensive loss	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0		0	0
As Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net loss	(40,192)	(12,449)	(11,351)	(13,086)	(38,441)	(9,477)	(5,498)	(13,301)	(11,000)	(23,800)	(47,918)	(24,301)	(63,992)		(29,799)		(114,679)	(32,665)
Other comprehensive income, net of tax:
Net unrealized gains on interest rate swaps, net of tax		286	300	104	176	366	387	401	304	586	542	705	586		1,092		772	1,450
Other comprehensive income, net		286	300	104	176	366	387	401	304	586	542	705	586		1,092		772	1,450
Total comprehensive loss	(40,192)	(12,163)	(11,051)	(12,982)	(38,265)	(9,111)	(5,111)	(12,900)	(10,696)	(23,214)	(47,376)	(23,596)	(63,406)		(28,707)		(113,907)	(31,215)
As Reported \| After Discontinued Operations Restatement
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net loss														(61,116)
Other comprehensive income, net of tax:
Net unrealized gains on interest rate swaps, net of tax														646
Other comprehensive income, net														646
Total comprehensive loss														(60,470)
Restatement
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net loss	3,685	(357)	385	(500)	(30)	90	(1,480)	1,678	(1,410)	28	60	268	3,713		(1,212)		(2,036)	371
Other comprehensive income, net of tax:
Net unrealized gains on interest rate swaps, net of tax		0	0	0	0	0	0	0	0	0	0	0	0		0		0	0
Other comprehensive income, net		0	0	0	0	0	0	0	0	0	0	0	0		0		0	0
Total comprehensive loss	3,685	(357)	385	(500)	(30)	90	(1,480)	1,678	(1,410)	28	60	268	3,713		(1,212)		(2,036)	371
Restatement \| After Discontinued Operations Restatement
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net loss														(328)
Other comprehensive income, net of tax:
Net unrealized gains on interest rate swaps, net of tax														0
Other comprehensive income, net														0
Total comprehensive loss														(328)
As Restated
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net loss	(36,507)	(12,806)	(10,966)	(13,586)	(38,471)	(9,387)	(6,978)	(11,623)	(12,410)	(23,772)	(47,858)	(24,033)	(60,279)		(31,011)		(116,715)	(32,294)
Other comprehensive income, net of tax:
Net unrealized gains on interest rate swaps, net of tax		286	300	104	176	366	387	401	304	586	542	705	586		1,092		772	1,450
Other comprehensive income, net		286	300	104	176	366	387	401	304	586	542	705	586		1,092		772	1,450
Total comprehensive loss	$ (36,507)	$ (12,520)	$ (10,666)	$ (13,482)	$ (38,295)	$ (9,021)	$ (6,591)	$ (11,222)	$ (12,106)	$ (23,186)	$ (47,316)	$ (23,328)	$ (59,693)		$ (29,919)		$ (115,943)	$ (30,844)
As Restated \| After Discontinued Operations Restatement
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net loss														(61,444)
Other comprehensive income, net of tax:
Net unrealized gains on interest rate swaps, net of tax														646
Other comprehensive income, net														646
Total comprehensive loss														$ (60,798)

Income Taxes - Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	May 28, 2023	May 29, 2022	May 30, 2021
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Unrecognized tax benefits – beginning of the period	$ 1,041	$ 958	$ 836
Gross increases – prior-period tax positions	16	0	0
Gross increases – current-period tax positions	116	83	122
Unrecognized tax benefits – end of the period	$ 1,173	$ 1,041	$ 958

Correction of Errors in Previously Reported Fiscal Year 2022 and 2021 Annual Financial Statements - Components of Property and Equipment (Details) - USD ($) $ in Thousands	May 28, 2023	Feb. 26, 2023	Nov. 27, 2022	Aug. 28, 2022	May 29, 2022	Feb. 27, 2022	Nov. 28, 2021	Aug. 29, 2021	May 30, 2021	Feb. 28, 2021	Nov. 29, 2020	Aug. 30, 2020
Property, Plant and Equipment [Line Items]
Gross property and equipment	$ 191,396				$ 165,533				$ 144,897
Less accumulated depreciation and amortization	(57,006)				(46,863)				(37,766)
Property and equipment, net	134,390	$ 126,326	$ 120,187	$ 118,190	118,670	$ 110,503	$ 108,761	$ 108,400	107,131	$ 95,789	$ 94,988	$ 93,764
Discontinued Operations
Property, Plant and Equipment [Line Items]
Gross property and equipment									21,158
Less accumulated depreciation and amortization									(5,691)
Property and equipment, net		406	3,666	3,798	3,896	16,263	74,320	74,909	15,467	74,548	77,252	78,712
As Reported
Property, Plant and Equipment [Line Items]
Gross property and equipment					167,071				163,743
Less accumulated depreciation and amortization					(48,540)				(43,457)
Property and equipment, net		120,799	118,852	117,551	118,531	123,209	179,929	180,460	120,286	168,693	170,973	171,413
Restatement
Property, Plant and Equipment [Line Items]
Gross property and equipment					4,118				2,312
Less accumulated depreciation and amortization					(83)				0
Property and equipment, net		5,933	5,001	4,437	4,035	3,557	3,152	2,849	2,312	1,644	1,267	1,063
As Restated
Property, Plant and Equipment [Line Items]
Gross property and equipment					171,189				166,055
Less accumulated depreciation and amortization					(48,623)				(43,457)
Property and equipment, net		$ 126,732	$ 123,853	$ 121,988	122,566	$ 126,766	$ 183,081	$ 183,309	122,598	$ 170,337	$ 172,240	$ 172,476
Discontinued Operations Adjustment \| Discontinued Operations
Property, Plant and Equipment [Line Items]
Gross property and equipment					5,656
Less accumulated depreciation and amortization					(1,760)
Property and equipment, net					3,896
Land
Property, Plant and Equipment [Line Items]
Gross property and equipment	3,739				3,710				3,670
Land \| Discontinued Operations
Property, Plant and Equipment [Line Items]
Gross property and equipment									0
Land \| As Reported
Property, Plant and Equipment [Line Items]
Gross property and equipment					3,710				3,670
Land \| Restatement
Property, Plant and Equipment [Line Items]
Gross property and equipment					0				0
Land \| As Restated
Property, Plant and Equipment [Line Items]
Gross property and equipment					3,710				3,670
Land \| Discontinued Operations Adjustment \| Discontinued Operations
Property, Plant and Equipment [Line Items]
Gross property and equipment					0
Buildings
Property, Plant and Equipment [Line Items]
Gross property and equipment	60,688				58,359				46,184
Buildings \| Discontinued Operations
Property, Plant and Equipment [Line Items]
Gross property and equipment									1,696
Buildings \| As Reported
Property, Plant and Equipment [Line Items]
Gross property and equipment					58,359				47,880
Buildings \| Restatement
Property, Plant and Equipment [Line Items]
Gross property and equipment					0				0
Buildings \| As Restated
Property, Plant and Equipment [Line Items]
Gross property and equipment					58,359				47,880
Buildings \| Discontinued Operations Adjustment \| Discontinued Operations
Property, Plant and Equipment [Line Items]
Gross property and equipment					0
Leasehold improvements
Property, Plant and Equipment [Line Items]
Gross property and equipment	4,019				4,019				4,055
Leasehold improvements \| Discontinued Operations
Property, Plant and Equipment [Line Items]
Gross property and equipment									2,410
Leasehold improvements \| As Reported
Property, Plant and Equipment [Line Items]
Gross property and equipment					5,143				6,465
Leasehold improvements \| Restatement
Property, Plant and Equipment [Line Items]
Gross property and equipment					0				0
Leasehold improvements \| As Restated
Property, Plant and Equipment [Line Items]
Gross property and equipment					5,143				6,465
Leasehold improvements \| Discontinued Operations Adjustment \| Discontinued Operations
Property, Plant and Equipment [Line Items]
Gross property and equipment					1,124
Computers, capitalized software, machinery, equipment and autos
Property, Plant and Equipment [Line Items]
Gross property and equipment	75,181				70,462				57,861
Computers, capitalized software, machinery, equipment and autos \| Discontinued Operations
Property, Plant and Equipment [Line Items]
Gross property and equipment									13,971
Computers, capitalized software, machinery, equipment and autos \| As Reported
Property, Plant and Equipment [Line Items]
Gross property and equipment					74,974				71,832
Computers, capitalized software, machinery, equipment and autos \| Restatement
Property, Plant and Equipment [Line Items]
Gross property and equipment					0				0
Computers, capitalized software, machinery, equipment and autos \| As Restated
Property, Plant and Equipment [Line Items]
Gross property and equipment					74,974				71,832
Computers, capitalized software, machinery, equipment and autos \| Discontinued Operations Adjustment \| Discontinued Operations
Property, Plant and Equipment [Line Items]
Gross property and equipment					4,512
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Gross property and equipment	2,182				2,091				2,314
Furniture and fixtures \| Discontinued Operations
Property, Plant and Equipment [Line Items]
Gross property and equipment									199
Furniture and fixtures \| As Reported
Property, Plant and Equipment [Line Items]
Gross property and equipment					2,099				2,513
Furniture and fixtures \| Restatement
Property, Plant and Equipment [Line Items]
Gross property and equipment					0				0
Furniture and fixtures \| As Restated
Property, Plant and Equipment [Line Items]
Gross property and equipment					2,099				2,513
Furniture and fixtures \| Discontinued Operations Adjustment \| Discontinued Operations
Property, Plant and Equipment [Line Items]
Gross property and equipment					8
Construction in process
Property, Plant and Equipment [Line Items]
Gross property and equipment	$ 45,587				26,892				30,813
Construction in process \| Discontinued Operations
Property, Plant and Equipment [Line Items]
Gross property and equipment									2,882
Construction in process \| As Reported
Property, Plant and Equipment [Line Items]
Gross property and equipment					22,786				31,383
Construction in process \| Restatement
Property, Plant and Equipment [Line Items]
Gross property and equipment					4,118				2,312
Construction in process \| As Restated
Property, Plant and Equipment [Line Items]
Gross property and equipment					26,904				$ 33,695
Construction in process \| Discontinued Operations Adjustment \| Discontinued Operations
Property, Plant and Equipment [Line Items]
Gross property and equipment					$ 12

Correction of Errors in Previously Reported Fiscal Year 2022 and 2021 Annual Financial Statements - Income Statement (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended											6 Months Ended			9 Months Ended			12 Months Ended
	May 28, 2023	Feb. 26, 2023	Nov. 27, 2022	Aug. 28, 2022	May 29, 2022	Feb. 27, 2022	Nov. 28, 2021	Aug. 29, 2021	Feb. 28, 2021	Nov. 29, 2020	Aug. 30, 2020	Nov. 27, 2022	Nov. 28, 2021	Nov. 29, 2020	Feb. 26, 2023	Feb. 27, 2022	Feb. 28, 2021	May 28, 2023	May 29, 2022	May 30, 2021
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Product sales	$ 31,145	$ 26,536	$ 21,864	$ 23,724	$ 28,107	$ 35,232	$ 25,601	$ 22,330	$ 27,807	$ 23,792	$ 22,675	$ 45,587						$ 103,269	$ 111,270	$ 100,874
Cost of product sales		17,988	16,185	17,745		23,593	14,143	16,785	16,877	13,018	17,381	33,929						75,284	72,204	61,937
Gross profit	7,779	8,548	5,679	5,979	10,424	11,639	11,458	5,545	10,930	10,774	5,294	11,658						27,985	39,066	38,937
Operating costs and expenses:
Research and development		2,234	2,177	2,211		2,254	1,680	1,689	1,637	1,591	1,739	4,388						8,736	7,839	6,684
Selling, general and administrative		10,279	8,291	8,103		13,749	5,461	6,951	7,149	6,710	7,490	16,395						38,969	34,659	27,721
Legal settlement charge																				0
Impairment of goodwill and long-lived and indefinite-lived assets			0									0							0
Loss on disposal of property and equipment related to restructuring, net		2,566	563	1,047		5,274	627	1,128	2,071	1,099	6,667	1,610						4,184	8,359	13,355
Total operating costs and expenses		15,079	11,031	9,253		21,277	7,768	9,768	10,857	9,400	15,896	20,285						49,781	50,857	47,760
Operating (loss) income		(6,531)	(5,352)	(3,274)		(9,638)	3,690	(4,223)	73	1,374	(10,602)	(8,627)						(21,796)	(11,791)	(8,823)
Dividend income										0	0
Interest income		22	16	15		20	19	27	13	10	8	31						68	81	48
Interest expense		(4,855)	(3,624)	(3,246)		(3,676)	(2,767)	(6,130)	(2,562)	(1,596)	(1,665)	(6,870)						(17,649)	(15,551)	(8,933)
Loss on debt extinguishment																				(1,110)
Transition services income		78	24	44		5,473			(1,110)			68						349	5,814	0
Other income (expense), net		26	(261)	(242)		290	330	46	305	(9,706)	(1,519)	(502)						(1,159)	760	(10,969)
Net loss from continuing operations before taxes		(11,260)	(9,197)	(6,703)		(7,531)	1,272	(10,280)	(3,281)	(9,918)	(13,778)	(15,900)						(63,928)	(20,687)	(29,787)
Income tax provision (benefit)		(70)	(4)	(4)		(3,389)	6,275	1,807	1,530	1,528	3,788	(8)						(308)	5,211	6,350
Net loss from continuing operations	(36,998)	(11,330)	(9,201)	(6,707)	(3,630)	(10,920)	7,547	(8,473)	(1,751)	(8,390)	(9,990)	(15,908)						(64,236)	(15,476)	(23,437)
Discontinued operations:
Loss from discontinued operations		(25,177)	(3,605)	(4,259)		(6,552)	(42,591)	(1,196)	(4,304)	(4,037)	(3,239)	(7,864)						(35,327)	(101,929)	(10,289)
Income tax benefit						3,886	(3,427)	282	(923)	804	819							0	690	1,432
Loss from discontinued operations	$ (2,286)	(25,177)	(3,605)	(4,259)	$ (51,641)	(2,666)	(46,018)	(914)	(5,227)	(3,233)	(2,420)	(7,864)						(35,327)	(101,239)	(8,857)
Net loss		$ (36,507)	$ (12,806)	$ (10,966)		$ (13,586)	$ (38,471)	$ (9,387)	$ (6,978)	$ (11,623)	$ (12,410)	$ (23,772)	$ (47,858)		$ (60,279)	$ (61,444)	$ (31,011)	$ (99,563)	$ (116,715)	$ (32,294)
Basic net loss per share:
Loss from continuing operations (in dollars per share)	$ (1.23)	$ (0.37)	$ (0.31)	$ (0.23)	$ (0.12)	$ (0.37)	$ 0.25	$ (0.29)	$ (0.06)	$ (0.29)	$ (0.34)	$ (0.54)						$ (2.14)	$ (0.53)	$ (0.80)
Loss from discontinued operations (in dollars per share)	(0.09)	(0.83)	(0.12)	(0.14)	(1.76)	(0.09)	(1.56)	(0.03)	(0.18)	(0.11)	(0.08)	(0.26)						(1.18)	(3.44)	(0.30)
Total basic net loss per share (in dollars per share)	(1.32)	(1.20)	(0.43)	(0.37)	(1.88)	(0.46)	(1.31)	(0.32)	(0.24)	(0.40)	(0.42)	(0.80)						(3.32)	(3.97)	(1.10)
Diluted net loss per share:
Loss from continuing operations (in dollars per share)	(1.23)	(0.37)	(0.31)	(0.23)	(0.12)	(0.37)	0.25	(0.29)	(0.06)	(0.29)	(0.34)	(0.54)						(2.14)	(0.53)	(0.80)
Loss from discontinued operations (in dollars per share)	(0.09)	(0.83)	(0.12)	(0.14)	(1.76)	(0.09)	(1.56)	(0.03)	(0.18)	(0.11)	(0.08)	(0.26)						(1.18)	(3.44)	(0.30)
Total diluted net loss per share (in dollars per share)	$ (1.32)	$ (1.20)	$ (0.43)	$ (0.37)	$ (1.88)	$ (0.46)	$ (1.31)	$ (0.32)	$ (0.24)	$ (0.40)	$ (0.42)	$ (0.80)	$ (1.63)	$ (0.82)	$ (2.02)	$ (2.09)	$ (1.06)	$ (3.32)	$ (3.97)	$ (1.10)
Shares used in per share computation:
Basic (in shares)		30,304	29,634	29,577		29,482	29,471	29,424	29,323	29,280	29,242	29,605						29,958	29,466	29,294
Diluted (in shares)		30,304	29,634	29,577		29,482	29,471	29,424	29,323	29,280	29,242	29,605	29,448	29,261	29,838	29,459	29,282	29,958	29,466	29,294
Discontinued Operations
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Product sales		$ 1,270	$ 17,111	$ 19,652		$ 2,169	$ 17,889	$ 19,302				$ 36,764							$ 74,556	$ 71,164
Cost of product sales		1,371	16,789	19,436		1,733	15,210	14,752				36,226							67,115	60,163
Gross profit		(101)	322	216		436	2,679	4,550				538							7,441	11,001
Operating costs and expenses:
Research and development		6	90	79		34	176	184				169							523	739
Selling, general and administrative		640	2,459	4,369		589	2,633	2,751				6,828							11,073	10,396
Legal settlement charge																				0
Impairment of goodwill and long-lived and indefinite-lived assets			1,300									1,300							46,089
Loss on disposal of property and equipment related to restructuring, net		0	0	0		0	0	0				0							0	0
Total operating costs and expenses		646	3,849	4,448		623	2,809	2,935				8,297							57,685	11,135
Operating (loss) income		(747)	(3,527)	(4,232)		(187)	(130)	1,615				(7,759)							(50,244)	(134)
Interest income		0	0	0		0	0	0				0							0	0
Interest expense		0	0	0		0	0	0				0							0	0
Loss on debt extinguishment																				0
Transition services income		0	0	0		0						0							0
Other income (expense), net		0	0	0		0	0	0				0							0	0
Net loss from continuing operations before taxes		(747)	(3,527)	(4,232)		(187)	(130)	1,615				(7,759)							(50,244)	(134)
Income tax provision (benefit)		0	0	0		1,462	(1,043)	(289)				0							447	452
Net loss from continuing operations		(747)	(3,527)	(4,232)		1,275	(1,173)	1,326				(7,759)							(49,797)	318
Discontinued operations:
Loss from discontinued operations		747	3,527	4,232		187	130	(1,615)				7,759							50,244	134
Income tax benefit						(1,462)	1,043	289											(447)	(452)
Loss from discontinued operations		747	3,527	4,232		(1,275)	1,173	(1,326)				7,759							49,797	(318)
Net loss		$ 0	$ 0	$ 0		$ 0	$ 0	$ 0				$ 0							$ 0	$ 0
Basic net loss per share:
Loss from continuing operations (in dollars per share)		$ (0.02)	$ (0.12)	$ (0.14)		$ 0.04	$ (0.04)	$ 0.05				$ (0.26)							$ (1.69)	$ 0.01
Loss from discontinued operations (in dollars per share)		0.02	0.12	0.14		(0.04)	0.04	(0.05)				0.26							1.69	(0.01)
Total basic net loss per share (in dollars per share)		0	0	0		0	0	0				0							0	0
Diluted net loss per share:
Loss from continuing operations (in dollars per share)		(0.02)	(0.12)	(0.14)		0.04	(0.04)	0.05				(0.26)							(1.69)	0.01
Loss from discontinued operations (in dollars per share)		0.02	0.12	0.14		(0.04)	0.04	(0.05)				0.26							1.69	(0.01)
Total diluted net loss per share (in dollars per share)		$ 0	$ 0	$ 0		$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0		$ 0	$ 0
Shares used in per share computation:
Basic (in shares)		0	0	0		0	0	0				0							0	0
Diluted (in shares)		0	0	0		0	0	0	0	0	0	0	0	0	0	0	0		0	0
As Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Product sales																			$ 185,786	$ 171,546
Cost of product sales																			135,416	121,075
Gross profit																			50,370	50,471
Operating costs and expenses:
Research and development																			7,841	7,423
Selling, general and administrative																			46,127	37,660
Legal settlement charge																				1,763
Impairment of goodwill and long-lived and indefinite-lived assets																			46,089
Loss on disposal of property and equipment related to restructuring, net																			8,961	3,759
Total operating costs and expenses																			109,018	50,605
Operating (loss) income																			(58,648)	(134)
Interest income																			81	48
Interest expense																			(17,357)	(10,387)
Loss on debt extinguishment																				(1,110)
Transition services income																			5,814
Other income (expense), net																			641	111
Net loss from continuing operations before taxes																			(69,469)	(11,472)
Income tax provision (benefit)																			5,945	1,903
Net loss from continuing operations																			(63,524)	(9,569)
Discontinued operations:
Loss from discontinued operations																			(51,276)	(28,994)
Income tax benefit																			121	5,898
Loss from discontinued operations																			(51,155)	(23,096)
Net loss				$ (11,351)				$ (9,477)			$ (11,000)	$ (23,800)	$ (47,918)	$ (24,301)	$ (63,992)		$ (29,799)		$ (114,679)	$ (32,665)
Basic net loss per share:
Loss from continuing operations (in dollars per share)																			$ (2.16)	$ (0.33)
Loss from discontinued operations (in dollars per share)																			(1.74)	(0.79)
Total basic net loss per share (in dollars per share)																			(3.90)	(1.12)
Diluted net loss per share:
Loss from continuing operations (in dollars per share)																			(2.16)	(0.33)
Loss from discontinued operations (in dollars per share)																			(1.74)	(0.79)
Total diluted net loss per share (in dollars per share)		$ (1.33)	$ (0.42)	$ (0.38)		$ (0.45)	$ (1.30)	$ (0.32)	$ (0.19)	$ (0.45)	$ (0.38)	$ (0.80)	$ (1.63)	$ (0.83)	$ (2.14)		$ (1.02)		$ (3.90)	$ (1.12)
Shares used in per share computation:
Basic (in shares)																			29,466	29,294
Diluted (in shares)		30,304	29,634	29,577		29,482	29,471	29,424	29,323	29,280	29,242	29,605	29,448	29,261	29,838		29,282		29,466	29,294
Restatement
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Product sales																			$ 40	$ 492
Cost of product sales																			3,903	1,025
Gross profit																			(3,863)	(533)
Operating costs and expenses:
Research and development																			521	0
Selling, general and administrative																			(395)	457
Legal settlement charge																				(1,763)
Impairment of goodwill and long-lived and indefinite-lived assets																			0
Loss on disposal of property and equipment related to restructuring, net																			(602)	9,596
Total operating costs and expenses																			(476)	8,290
Operating (loss) income																			(3,387)	(8,823)
Interest income																			0	0
Interest expense																			1,806	1,454
Loss on debt extinguishment																				0
Transition services income																			0
Other income (expense), net																			119	(11,080)
Net loss from continuing operations before taxes																			(1,462)	(18,449)
Income tax provision (benefit)																			(287)	4,899
Net loss from continuing operations																			(1,749)	(13,550)
Discontinued operations:
Loss from discontinued operations																			(409)	18,839
Income tax benefit																			122	(4,918)
Loss from discontinued operations																			(287)	13,921
Net loss				$ 385				$ 90			$ (1,410)	$ 28	$ 60	$ 268	$ 3,713		$ (1,212)		$ (2,036)	$ 371
Basic net loss per share:
Loss from continuing operations (in dollars per share)																			$ (0.06)	$ (0.46)
Loss from discontinued operations (in dollars per share)																			(0.01)	0.48
Total basic net loss per share (in dollars per share)																			(0.07)	0.02
Diluted net loss per share:
Loss from continuing operations (in dollars per share)																			(0.06)	(0.46)
Loss from discontinued operations (in dollars per share)																			(0.01)	0.48
Total diluted net loss per share (in dollars per share)		$ 0.13	$ (0.01)	$ 0.01		$ (0.01)	$ (0.01)	$ 0	$ (0.05)	$ 0.05	$ (0.04)	$ 0	$ 0	$ 0.01	$ 0.12		$ (0.04)		$ (0.07)	$ 0.02
Shares used in per share computation:
Basic (in shares)																			0	0
Diluted (in shares)		0	0	0		0	0	0	0	0	0	0	0	0	0		0		0	0
As Restated
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Product sales																			$ 185,826	$ 172,038
Cost of product sales																			139,319	122,100
Gross profit																			46,507	49,938
Operating costs and expenses:
Research and development																			8,362	7,423
Selling, general and administrative																			45,732	38,117
Legal settlement charge																				0
Impairment of goodwill and long-lived and indefinite-lived assets																			46,089
Loss on disposal of property and equipment related to restructuring, net																			8,359	13,355
Total operating costs and expenses																			108,542	58,895
Operating (loss) income																			(62,035)	(8,957)
Interest income																			81	48
Interest expense																			(15,551)	(8,933)
Loss on debt extinguishment																				(1,110)
Transition services income																			5,814
Other income (expense), net																			760	(10,969)
Net loss from continuing operations before taxes																			(70,931)	(29,921)
Income tax provision (benefit)																			5,658	6,802
Net loss from continuing operations																			(65,273)	(23,119)
Discontinued operations:
Loss from discontinued operations																			(51,685)	(10,155)
Income tax benefit																			243	980
Loss from discontinued operations																			(51,442)	(9,175)
Net loss														$ (24,033)					$ (116,715)	$ (32,294)
Basic net loss per share:
Loss from continuing operations (in dollars per share)																			$ (2.22)	$ (0.79)
Loss from discontinued operations (in dollars per share)																			(1.75)	(0.31)
Total basic net loss per share (in dollars per share)																			(3.97)	(1.10)
Diluted net loss per share:
Loss from continuing operations (in dollars per share)																			(2.22)	(0.79)
Loss from discontinued operations (in dollars per share)																			(1.75)	(0.31)
Total diluted net loss per share (in dollars per share)		$ (1.20)	$ (0.43)	$ (0.37)		$ (0.46)	$ (1.31)	$ (0.32)	$ (0.24)	$ (0.40)	$ (0.42)	$ (0.80)	$ (1.63)	$ (0.82)	$ (2.02)		$ (1.06)		$ (3.97)	$ (1.10)
Shares used in per share computation:
Basic (in shares)																			29,466	29,294
Diluted (in shares)		30,304	29,634	29,577		29,482	29,471	29,424	29,323	29,280	29,242	29,605	29,448	29,261	29,838		29,282		29,466	29,294

Subsequent Events	12 Months Ended
Subsequent Events	May 28, 2023
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Confidential Settlement Agreement and Release On August 15, 2023, the Company reached a confidential settlement and release agreement with a third-party insurance underwriter. In connection with this settlement agreement, on September 19, 2023, the Company received a $1.85 million cash payment. O Olive Sale On September 28, 2023, December 11, 2023, and February 22, 2024 the Company received cash payments of $2.4 million, $0.3 million, and $18.0 thousand, respectively, toward the $3.1 million seller’s note issued to the Company in connection with the O Olive Sale. Limited Waivers and Amendments to Credit Agreements On December 31, 2023, the Company entered into (i) that certain Limited Waiver and First Amendment to Credit and Guaranty Agreement (the “Alcon Amendment”), by and among Alcon, the Company, and certain subsidiaries of the Company, which amended the New Term Loan Credit Facility, and (ii) that certain Limited Waiver and Sixth Amendment to Credit Agreement (the “BMO Amendment” and, together with the Alcon Amendment, the “Credit Agreement Amendments”) by and among the Borrowers, certain of the Company’s other subsidiaries, and BMO, which amended the Revolving Credit Facility. The Alcon Amendment provides for, among other things, (i) a waiver of the specified defaults listed therein under the New Term Loan Credit Facility as of the date of the Alcon Amendment, (ii) a waiver of the requirement to deliver certain historical financial statements, (iii) the inclusion of a requirement that the Company notify Alcon in advance of any layoff(s) by the Company and/or its subsidiaries that would result in a reduction in the overall headcount of the Company’s full-time manufacturing and support personnel by more than 20 persons in the aggregate, and (iv) an amendment to the financial reporting requirements under the New Term Loan Credit Facility providing additional time for the Company’s delivery of its financials for the quarter ended November 26, 2023. The BMO Amendment provides for, among other things, (i) a waiver of the specified defaults listed therein under the Revolving Credit Facility as of the date of the BMO Amendment, (ii) a waiver of the requirement to deliver certain historical financial statements, (iii) an amendment to the definition of “Applicable Margin” with respect to loans under the Revolving Credit Facility from December 31, 2023 until the “Specified Adjustment Date” (as defined in the Revolving Credit Facility as amended by the BMO Amendment) (i.e., the date on which 2024 audited annual financial statements and certain other materials are delivered by the Company to BMO), and (iv) an amendment to the definition of “Eligible Accounts” thereunder in respect of certain accounts. The Company was not required to pay any fees in connection with the Credit Agreement Amendments. Amended and Restated Contract Manufacturing Agreement On December 31, 2023, the Company entered into an Amended and Restated Contract Manufacturing Agreement (the “Amended and Restated CMA”), with Alcon, which amended and restated the existing contract manufacturing agreement between the Company and Alcon related to the Company’s aseptic manufacturing of a variety of ophthalmic viscoelastic injection devices. The initial term of the Amended and Restated CMA expires December 31, 2031, subject to earlier termination by Alcon under certain circumstances or by either party for a material breach by the other party that is not cured after notice and an opportunity to cure. The Amended and Restated CMA contains terms and provisions customary for transactions of this type, including forecast and purchase order procedures, prices that are subject to annual index-based adjustments, minimum purchase obligations, on-time-in-full service level metrics and remedies, product warranties and confidentiality and indemnification obligations. In the event the Company is unable to meet specified metrics pursuant to the Amended and Restated CMA, under certain circumstances, Alcon will be entitled to certain financial concessions, as well as certain rights and documents with respect to Alcon purchase orders until applicable metrics are met. Alcon Supply Agreement Amendment On December 31, 2023, the Company entered into Amendment No. 1 (the “Supply Agreement Amendment”) to the Supply Agreement, related to the Company’s manufacture and supply of HA for Alcon. The Supply Agreement Amendment provides Alcon with the option to purchase a new filter dryer (the “Filter Dryer”), for use by the Company to expand the Company’s capacity to produce certain ingredients for Alcon, which may be exercised by Alcon by written notice. If Alcon exercises the option, all associated costs to acquire and install the Filter Dryer at the Company’s facilities would be paid in full by Alcon. The Filter Dryer would be deemed the property of Alcon. The Filter Dryer would be solely and exclusively used for the manufacturing of ingredients for Alcon and only to the extent needed to meet Alcon purchase orders in excess of a certain specified committed capacity. After the Filter Dryer is installed, the Company will be committed to a revised specified amount of production capacity to Alcon, and Alcon will commit to purchase a specified percentage of its global annual requirements for certain ingredients from the Company. Amended and Restated Supply Agreement On December 22, 2023, the Company entered into amendment and restatement of a supply agreement with one of its customers (the “Amended Supply Agreement”). The key provisions of the Amended Supply Agreement included an extension of the agreement’s term for certain products through March 31, 2024, revised pricing for certain product purchase orders dated November 1, 2023, and the payment of a $5.0 million working capital deposit to the Company. The working capital deposit was received on December 22, 2023 and (i) may be used for any corporate purpose; (ii) will not accrue interest; and (iii) is required to be repaid, subject to certain defined provisions, upon the termination of the Amended Supply Agreement. Landlord Complaints On January 12, 2024, the landlord for a property leased by Curation filed a complaint of unlawful detainer against the Company in Santa Barbara County Superior Court, seeking possession of the building and alleging past due rent of approximately $0.2 million. The Company has surrendered possession to the premises. The Company has accrued past due rents, but the ultimate exposure to loss will depend on future events and is not reasonably estimable at this time. On January 12, 2024, a landlord for a different property leased by Curation delivered to the Company a pay or quit notice related to such property, seeking payment of past due rent of approximately $0.1 million or requesting Curation to vacate the property. The Company has surrendered possession to the premises. The Company has accrued past due rents, but the ultimate exposure to loss will depend on future events and is not reasonably estimable at this time. Settlement of a Supplier Note Receivable In February 2024, the Company received approximately $0.9 million in settlement of a note receivable from a former supplier to a divested business (the “Note”). The Company will account for the settlement as a gain contingency in the third quarter of fiscal year 2024 as the original aggregate amount of the Note was written off in a previous period.

Leases - Schedule of Lease Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	May 28, 2023	May 29, 2022
Leases [Abstract]
Amortization of leased assets	$ 119	$ 113
Interest on lease liabilities	351	335
Operating lease cost	1,286	1,046
Variable lease cost and other	600	406
Sublease income	(53)	(90)
Total lease cost	$ 2,303	$ 1,810
Weighted-average remaining lease term:
Operating leases	7 years 8 months 8 days	8 years 6 months 14 days
Finance leases	4 years 6 months 25 days	7 months 2 days
Weighted-average discount rate:
Operating leases	4.60%	4.61%
Finance leases	11.40%	10.01%

Unaudited Quarterly Consolidated Financial Information - Diluted Net (Loss) Income Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended											6 Months Ended			9 Months Ended			12 Months Ended
	May 28, 2023	Feb. 26, 2023	Nov. 27, 2022	Aug. 28, 2022	May 29, 2022	Feb. 27, 2022	Nov. 28, 2021	Aug. 29, 2021	Feb. 28, 2021	Nov. 29, 2020	Aug. 30, 2020	Nov. 27, 2022	Nov. 28, 2021	Nov. 29, 2020	Feb. 26, 2023	Feb. 27, 2022	Feb. 28, 2021	May 28, 2023	May 29, 2022	May 30, 2021
Numerator:
Net loss		$ (36,507)	$ (12,806)	$ (10,966)		$ (13,586)	$ (38,471)	$ (9,387)	$ (6,978)	$ (11,623)	$ (12,410)	$ (23,772)	$ (47,858)	$ (24,033)	$ (60,279)	$ (61,444)	$ (31,011)	$ (99,563)	$ (116,715)	$ (32,294)
Denominator:
Weighted average shares for basic net loss per share (in shares)		30,304	29,634	29,577		29,482	29,471	29,424	29,323	29,280	29,242	29,605	29,448	29,261	29,838	29,459	29,282	29,958	29,466	29,294
Weighted average shares for diluted net loss per share (in shares)		30,304	29,634	29,577		29,482	29,471	29,424	29,323	29,280	29,242	29,605	29,448	29,261	29,838	29,459	29,282	29,958	29,466	29,294
Diluted net loss per share (in dollars per share)	$ (1.32)	$ (1.20)	$ (0.43)	$ (0.37)	$ (1.88)	$ (0.46)	$ (1.31)	$ (0.32)	$ (0.24)	$ (0.40)	$ (0.42)	$ (0.80)	$ (1.63)	$ (0.82)	$ (2.02)	$ (2.09)	$ (1.06)	$ (3.32)	$ (3.97)	$ (1.10)
After Discontinued Operations Restatement
Denominator:
Weighted average shares for diluted net loss per share (in shares)													29,448	29,261	29,838
Diluted net loss per share (in dollars per share)													$ (1.63)	$ (0.82)	$ (2.02)
Discontinued Operations
Numerator:
Net loss		$ 0	$ 0	$ 0		$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0		$ 0	$ 0
Denominator:
Weighted average shares for basic net loss per share (in shares)		0	0	0		0	0	0	0	0	0	0	0	0	0	0	0		0	0
Weighted average shares for diluted net loss per share (in shares)		0	0	0		0	0	0	0	0	0	0	0	0	0	0	0		0	0
Diluted net loss per share (in dollars per share)		$ 0	$ 0	$ 0		$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0		$ 0	$ 0
Discontinued Operations \| After Discontinued Operations Restatement
Denominator:
Weighted average shares for diluted net loss per share (in shares)													0	0	0	0	0
Diluted net loss per share (in dollars per share)													$ 0	$ 0	$ 0	$ 0	$ 0
Continuing Operations
Denominator:
Weighted average shares for diluted net loss per share (in shares)																29,459	29,282
Diluted net loss per share (in dollars per share)																$ (2.09)	$ (1.06)
As Reported
Numerator:
Net loss		$ (40,192)	$ (12,449)	$ (11,351)		$ (13,086)	$ (38,441)	$ (9,477)	$ (5,498)	$ (13,301)	$ (11,000)	$ (23,800)	$ (47,918)	$ (24,301)	$ (63,992)		$ (29,799)		$ (114,679)	$ (32,665)
Denominator:
Weighted average shares for basic net loss per share (in shares)		30,304	29,634	29,577		29,482	29,471	29,424	29,323	29,280	29,242	29,605	29,448	29,261	29,838		29,282		29,466	29,294
Weighted average shares for diluted net loss per share (in shares)		30,304	29,634	29,577		29,482	29,471	29,424	29,323	29,280	29,242	29,605	29,448	29,261	29,838		29,282		29,466	29,294
Diluted net loss per share (in dollars per share)		$ (1.33)	$ (0.42)	$ (0.38)		$ (0.45)	$ (1.30)	$ (0.32)	$ (0.19)	$ (0.45)	$ (0.38)	$ (0.80)	$ (1.63)	$ (0.83)	$ (2.14)		$ (1.02)		$ (3.90)	$ (1.12)
As Reported \| After Discontinued Operations Restatement
Numerator:
Net loss																$ (61,116)
Denominator:
Weighted average shares for basic net loss per share (in shares)																29,459
Weighted average shares for diluted net loss per share (in shares)													29,448	29,261	29,838	29,459	29,282
Diluted net loss per share (in dollars per share)													$ (1.63)	$ (0.83)	$ (2.14)	$ (2.08)	$ (1.02)
Restatement
Numerator:
Net loss		$ 3,685	$ (357)	$ 385		$ (500)	$ (30)	$ 90	$ (1,480)	$ 1,678	$ (1,410)	$ 28	$ 60	$ 268	$ 3,713		$ (1,212)		$ (2,036)	$ 371
Denominator:
Weighted average shares for basic net loss per share (in shares)		0	0	0		0	0	0	0	0	0	0	0	0	0		0		0	0
Weighted average shares for diluted net loss per share (in shares)		0	0	0		0	0	0	0	0	0	0	0	0	0		0		0	0
Diluted net loss per share (in dollars per share)		$ 0.13	$ (0.01)	$ 0.01		$ (0.01)	$ (0.01)	$ 0	$ (0.05)	$ 0.05	$ (0.04)	$ 0	$ 0	$ 0.01	$ 0.12		$ (0.04)		$ (0.07)	$ 0.02
Restatement \| After Discontinued Operations Restatement
Numerator:
Net loss																$ (328)
Denominator:
Weighted average shares for basic net loss per share (in shares)																0
Weighted average shares for diluted net loss per share (in shares)													0	0	0	0	0
Diluted net loss per share (in dollars per share)													$ 0	$ 0.01	$ 0.12	$ (0.01)	$ (0.04)
As Restated
Numerator:
Net loss		$ (36,507)	$ (12,806)	$ (10,966)		$ (13,586)	$ (38,471)	$ (9,387)	$ (6,978)	$ (11,623)	$ (12,410)	$ (23,772)	$ (47,858)	$ (24,033)	$ (60,279)		$ (31,011)		$ (116,715)	$ (32,294)
Denominator:
Weighted average shares for basic net loss per share (in shares)		30,304	29,634	29,577		29,482	29,471	29,424	29,323	29,280	29,242	29,605	29,448	29,261	29,838		29,282		29,466	29,294
Weighted average shares for diluted net loss per share (in shares)		30,304	29,634	29,577		29,482	29,471	29,424	29,323	29,280	29,242	29,605	29,448	29,261	29,838		29,282		29,466	29,294
Diluted net loss per share (in dollars per share)		$ (1.20)	$ (0.43)	$ (0.37)		$ (0.46)	$ (1.31)	$ (0.32)	$ (0.24)	$ (0.40)	$ (0.42)	$ (0.80)	$ (1.63)	$ (0.82)	$ (2.02)		$ (1.06)		$ (3.97)	$ (1.10)
As Restated \| After Discontinued Operations Restatement
Numerator:
Net loss																$ (61,444)
Denominator:
Weighted average shares for basic net loss per share (in shares)																29,459
Weighted average shares for diluted net loss per share (in shares)													29,448	29,261	29,838	29,459	29,282
Diluted net loss per share (in dollars per share)													$ (1.63)	$ (0.82)	$ (2.02)	$ (2.09)	$ (1.06)

Organization, Basis of Presentation, and Summary of Significant Accounting Policies

12 Months Ended

May 28, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Organization, Basis of Presentation, and Summary of Significant Accounting Policies

Organization

Lifecore Biomedical, Inc. and its subsidiaries (“Lifecore Biomedical” or the “Company”, previously Landec Corporation) design, develop, manufacture, and sell differentiated products for biomaterials markets, and license technology applications to partners.

Lifecore Biomedical’s biomedical company, Lifecore Biomedical Operating Company, Inc. (“Lifecore”), is a fully integrated contract development and manufacturing organization (“CDMO”) that offers highly differentiated capabilities in the development, fill and finish of sterile, injectable-grade pharmaceutical products in syringes and vials. As a leading manufacturer of premium, injectable grade sodium hyaluronic (“HA”), Lifecore brings over 40 years of expertise as a partner for global and emerging biopharmaceutical and biotechnology companies across multiple therapeutic categories to bring their innovations to market. Lifecore recognizes revenue in two different product categories, CDMO and fermentation.

Lifecore Biomedical previously operated a natural food company, through its wholly owned subsidiary, Curation Foods, Inc. (“Curation Foods”), which was previously focused on the distribution of plant-based foods to retail, club and foodservice channels throughout North America. However, upon the sale of Yucatan on February 7, 2023 (see “Yucatan Disposition and Discontinued Operations” below) and O Olive Oil & Vinegar (“O Olive”) on April 6, 2023 (refer to Note 11), the Company has ceased to operate the Curation Foods business.

On November 14, 2022, the Company filed an amendment to the Certificate of Incorporation to change the Company’s name from Landec Corporation to Lifecore Biomedical, Inc. (the “Name Change”), which was approved by the Board of Directors of the Company and became effective on November 14, 2022. In connection with the Name Change, the Company’s Common Stock began trading under its new NASDAQ ticker symbol, “LFCR”, on November 15, 2022. References to “Landec” or “Landec Corporation” refer to operations and/or transactions of the Company prior to the Name Change.

Discontinued Operations - O Olive Sale, Yucatan Disposition, BreatheWay Disposition and Eat Smart Disposition

On April 6, 2023, the Company completed the sale of its O Olive Oil and Vinegar Business (“O Olive Sale”) for an aggregate sale price of $6.4 million, subject to certain customary post-closing adjustments, consisting of approximately $3.3 million in cash and a $3.1 million seller’s note. The seller’s note matures on March 31, 2026, accrues interest at a rate of 12% payable in kind beginning on October 31, 2023, and is prepayable by the buyer at any time. Net proceeds from the transaction, $1.7 million, were used to repay borrowings under the Company’s credit facilities. The Company recognized a loss on the O Olive Sale amounting to $0.3 million in the fourth quarter of fiscal year ended May 28, 2023, which is recorded in loss from discontinued operations in the Consolidated Statements of Operations. On September 28, 2023, December 11, 2023 and February 22, 2024, the Company received cash payments of $2.4 million, $0.3 million, and $18.0 thousand, respectively, toward the $3.1 million seller’s note.

On February 7, 2023 (the “Yucatan Closing Date”), Company, Camden Fruit Corp., a direct wholly owned subsidiary of Curation Foods and an indirect wholly owned subsidiary of the Company (“Camden” and together with the Curation Foods and the Company, the “Yucatan Sellers”), Yucatan Foods, LLC, a wholly owned subsidiary of the Camden (“Yucatan”), and Yucatan Acquisition Holdings LLC, a wholly owned subsidiary of Flagship Food Group LLC (“Buyer” and together with Yucatan and the Sellers, the “Parties”) completed the sale (the “Yucatan Disposition”) of the Company’s avocado products business, including its Yucatan® and Cabo Fresh® brands, as well as the associated manufacturing facility and operations in Guanajuato, Mexico (the “Business”), pursuant to the terms of a securities purchase agreement executed by the Parties on February 7, 2023 (the “Securities Purchase Agreement”). Pursuant to the Securities Purchase Agreement, Buyer acquired all of the outstanding equity securities of Yucatan for a purchase price of $17.5 million in cash, subject to certain post-closing adjustments at closing, including selling costs, net working capital and other adjustments amounting to $5.0 million. The Company recognized a loss on the Yucatan Disposition of $20.7 million in the third quarter ended February 26, 2023. The loss on the Yucatan Disposition is recorded in loss from discontinued operations in the Consolidated Statement of Operations.

On June 2, 2022, the Company and Curation Foods entered into and closed an Asset Purchase Agreement (the “BreatheWay Purchase Agreement”) with Hazel Technologies, Inc. (the “BreatheWay Purchaser”), pursuant to which Curation Foods sold all of its assets related to BreatheWay packaging technology business to the BreatheWay Purchaser in exchange for an aggregate purchase price of $3.2 million (the “BreatheWay Disposition”). The BreatheWay Purchase Agreement included various

representations, warranties and covenants of the parties generally customary for a transaction of this nature. Upon the sale, the Company received net proceeds of $3.1 million and recorded a gain of $2.1 million.

On December 13, 2021, the Company and Curation Foods (together, the “Eat Smart Sellers”), and Taylor Farms Retail, Inc. (“Taylor Farms” and together with the Eat Smart Sellers, the “Parties”) completed the sale (the “Eat Smart Disposition”) of Curation Foods’ Eat Smart business, including its salad and cut vegetable businesses (the “Eat Smart Business”), pursuant to the terms of an asset purchase agreement executed by the Parties on December 13, 2021 (the “Eat Smart Asset Purchase Agreement”). Pursuant to the Eat Smart Asset Purchase Agreement, Taylor Farms acquired the Business for a purchase price of $73.5 million in cash, subject to post-closing adjustments based upon net working capital at closing. As part of the Eat Smart Disposition, Taylor Farms acquired, among other assets related to the Business, the manufacturing facility and warehouses (and corresponding equipment) located in Bowling Green, Ohio and Guadalupe, California, as well as inventory, accounts receivable and accounts payable, intellectual property and information related to the Business, and assumed certain liabilities and executory obligations under the Company’s and Curation Foods’ outstanding contracts related to the Business, in each case, subject to the terms of the Eat Smart Asset Purchase Agreement. Upon the sale, the Company received net proceeds of $73.5 million and recorded a loss of $0.3 million, which is recorded in loss from discontinued operations in the Consolidated Statements of Operations.

The accounting requirements for reporting the Eat Smart, Yucatan and O Olive businesses as discontinued operations were met when the Eat Smart Disposition, Yucatan Disposition and O Olive Sale were completed on each respective closing date. The BreatheWay disposition did not meet the requirements for reporting the businesses as discontinued operations. Accordingly, the consolidated financial statements and notes to the consolidated financial statements reflect the results of the Eat Smart, Yucatan and O Olive businesses as a discontinued operation for the periods presented. Refer to Note 11 - Discontinued Operations.

In connection with the sale of the Eat Smart, Yucatan and O Olive businesses, the Company has entered into Transition Services Agreements with each respective buyer to provide for a customary and orderly transition of the business, and such fees earned, and costs incurred for such transition services shall be included in continuing operations in subsequent periods. In fiscal year 2022, the Company earned $5.8 million of transition services income related to transition services provided to Taylor Farms related to the Eat Smart Disposition which is meant to defray costs incurred to provide the transition services which are reported within Selling, general and administrative costs. In fiscal year 2023, the Company earned similar transition services income of $0.3 million related to the Yucatan and O Olive dispositions.

Securities Purchase Agreement

On November 25, 2022, the Company entered into a Securities Purchase Agreement (the “Wynnefield Purchase Agreement”) with entities affiliated with Wynnefield Capital, Inc. (the “Purchasers”). Pursuant to the Wynnefield Purchase Agreement, the Company agreed to sell an aggregate of 627,746 shares of its Common Stock (the “Shares”) for aggregate gross proceeds of $5.0 million (the “Offering”). The purchase price for each Share was $7.97. The Offering closed on November 25, 2022. Pursuant to the Wynnefield Purchase Agreement, the Company granted the Purchasers certain piggyback registration rights and agreed, among other things, to indemnify such parties under any registration statement filed that includes the Shares from certain losses, claims, damages and liabilities.

Series A Convertible Preferred Share Purchase Agreement

On January 9, 2023, the Company simultaneously signed and closed a Securities Purchase Agreement (the “Preferred Share Purchase Agreement”) with a group of certain accredited investors. Refer to Note 2 – Convertible Preferred Stock for additional information.

Refinancing Transactions

On May 22, 2023, the Company entered into an amendment to its Revolving Credit Facility (defined below) and entered into the New Term Loan Credit Facility. The New Term Loan Credit Facility refinanced in full all obligations of the Borrowers and their subsidiaries under the Prior Term Loan Credit Facility, which was terminated upon the entry into the New Term Loan Credit Facility and all noncompliance with debt covenants was thereby cured. Refer to Note 6 – Debt.

The Company incurred debt origination costs related to the refinancing transactions and amortizes these costs over the life of the related debt using the straight-line method, which approximates the effective interest method. The unamortized portion of debt origination costs is recorded on the consolidated balance sheets as an offset to its related debt. Amortization of debt origination costs is included as a component of interest expense in the consolidated statements of operations.

Basis of Presentation and Consolidation

The consolidated financial statements are presented on the accrual basis of accounting in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”) and include the accounts of Lifecore Biomedical and its subsidiaries, Curation Foods and Lifecore. All material inter-company transactions and balances have been eliminated.

The Company’s fiscal year is the 52- or 53-week period that ends on the last Sunday of May with quarters within each year ending on the last Sunday of August, November, and February; however, in instances where the last Sunday would result in a quarter being 12-weeks in length, the Company’s policy is to extend that quarter to the following Sunday. A 14th week is included in the fiscal year every five or six years to realign the Company’s fiscal quarters with calendar quarters.

Use of Estimates

The preparation of financial statements in conformity with GAAP requires management to make certain estimates and judgments that affect the amounts reported in the financial statements and accompanying notes. The accounting estimates that require management’s most significant and subjective judgments include revenue recognition; loss contingencies; sales returns and credit losses; recognition and measurement of current and deferred income tax assets and liabilities; the assessment of recoverability of long-lived and indefinite lived assets (including intangible assets and goodwill), and inventory; and the valuation and recognition of stock-based compensation; and the valuation of debt derivative liability.

These estimates involve the consideration of complex factors and require management to make judgments. The analysis of historical and future trends can require extended periods of time to resolve and are subject to change from period to period. The actual results may differ from management’s estimates.

Concentrations of Risk

Cash and cash equivalents and trade accounts receivable are financial instruments that potentially subject the Company to concentrations of credit risk. Our Company policy limits, among other things, the amount of credit exposure to any one issuer and to any one type of investment, other than securities issued or guaranteed by the U.S. government. The Company routinely assesses the financial strength of customers and, as a consequence, believes that trade receivables credit risk exposure is limited. Credit losses for bad debt are provided for in the consolidated financial statements through a charge to operations. A valuation allowance is provided for known and anticipated credit losses. The recorded amounts for these financial instruments approximate their fair value.

Several of the raw materials the Company uses to manufacture its products are currently purchased from a single source, including raw materials for its HA products.

During the fiscal year ended May 28, 2023, the Company had sales concentrations of 10% or greater from two customers (for fiscal years ended May 29, 2022 and May 30, 2021, three customers had sales concentrations of 10% or greater), accounting for 39% and 18%; 26%, 22% and 14%; and 32%, 23% and 12%, respectively. Two of the Company’s same customers had accounts receivable concentrations of 10% or greater, accounting for 31% and 18% of accounts receivable as of May 28, 2023, and 33% and 16%, as of May 29, 2022.

Impairment of Long-Lived Assets

Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. Recoverability of assets is measured by comparison of the carrying amount of the asset to the net undiscounted future cash flow expected to be generated from the asset. If the future undiscounted cash flows are not sufficient to recover the carrying value of the assets, the assets’ carrying value is adjusted to fair value. The Company regularly evaluates its long-lived assets for indicators of possible impairment.

Financial Instruments

The Company’s financial instruments are primarily composed of commercial-term trade payables, debt instruments, and derivative instruments. For short-term instruments, the historical carrying amount approximates the fair value of the instrument. The fair value of long-term debt and line of credit approximates their carrying value.

Cash Flow Hedges

The Company has entered into interest rate swap agreements to manage interest rate risk. These derivative instruments may offset a portion of the changes in interest expense. The Company designates these derivative instruments as cash flow hedges. The Company accounts for its derivative instruments as either an asset or a liability and carries them at fair value in Other assets or Other non-current liabilities. The accounting for changes in the fair value of the derivative instrument depends on the intended use of the derivative instrument and the resulting designation.

For derivative instruments that hedge the exposure to variability in expected future cash flows and are designated as cash flow hedges, the entire change in the fair value of the hedging instrument is recorded as a component of Accumulated other comprehensive loss (“AOCL”) in Stockholders’ Equity (Deficit). Those amounts are subsequently reclassified to earnings in the same line item in the Consolidated Statement of Operations as impacted when the hedged item affects earnings. To receive hedge accounting treatment, cash flow hedges must be highly effective in offsetting changes to expected future cash flows on hedged transactions.

During the third quarter of fiscal year 2021, the Company discontinued its hedge accounting prospectively since it was determined that the derivatives are no longer highly effective in offsetting changes in the net investment. The derivatives continue to be carried at fair value in the accompanying Consolidated Balance Sheets with changes in their fair values from the date of discontinued hedge accounting recognized in current period earnings in other income (expense), net in the Consolidated Statements of Operations. Amounts previously accumulated in AOCL during the period of effectiveness will continue to be realized over the remaining term of the underlying forecasted debt payments as a component of AOCL in Stockholders’ Equity (Deficit).

Derivative Financial Instruments

The Company accounts for put and call options embedded in the term debt in accordance with ASC Topic 815, Derivatives and Hedging. ASC Topic 815 generally requires companies to bifurcate put and call options embedded in the New Term Loan Credit Facility (as defined in Note 6) from their host instruments and to account for them as free standing derivative financial instruments. In circumstances where the host instrument contains more than one embedded derivative instrument that is required to be bifurcated, the bifurcated derivative instruments are accounted for as separate derivative instruments.

The fair value of the embedded features are accounted for as a derivative liability in the Company’s consolidated balance sheets and adjusted to fair value each reporting period. The change in fair value of derivatives is recorded as a component of other income (expense) in the Company’s Consolidated Statements of Operations.

Accumulated Other Comprehensive Loss

Comprehensive income consists of two components, Net loss and Other comprehensive (loss) income (“OCI”). OCI refers to revenue, expenses, and gains and losses that under GAAP are recorded as a component of stockholders’ equity but are excluded from net loss. The Company’s OCI consists of net deferred gains and losses on its interest rate swap derivative instruments. The components of AOCL, net of tax, are as follows (in thousands):


	AOCL
Balance as of May 31, 2020	$	(2,808)
Other comprehensive income before reclassifications, net of tax effect	(344)
Amounts reclassified from OCI	1,794
Other comprehensive income, net	1,450
Balance as of May 30, 2021	(1,358)
Amounts reclassified from OCI	772
Other comprehensive income, net	772
Balance as of May 29, 2022	(586)

Amounts reclassified from OCI	586
Other comprehensive income, net	586
Balance as of May 28, 2023	$	—

Based on these assumptions, management believes the fair market values of the Company’s financial instruments are not significantly different from their recorded amounts as of May 28, 2023 and May 29, 2022.

Accounts Receivable, Sales Returns and Allowance for Credit Losses

The Company carries its accounts receivable at their face amounts less an allowance for estimated sales returns and credit losses. Sales return allowances are estimated based on historical sales return amounts.

The Company uses the loss rate method to estimate its expected credit losses on trade accounts receivable and contract assets. In order to estimate expected credit losses, the Company assessed recent historical experience, current economic conditions and any reasonable and supportable forecast to identify risk characteristics that are shared within the financial asset. These risk characteristics are then used to bifurcate the loss rate method into risk pools. The risk pools were determined based on the industries in which the Company operates. Historical credit loss for each risk pool is then applied to the current period aging as presented in the identified risk pool to determine the needed reserve allowance. At times when there are no current economic conditions or forecasts that may affect future credit losses, the Company has determined that recent historical experience provides the best basis for estimating credit losses.

The information obtained from assessing historical experience, current economic conditions and reasonable and supportable forecasts were used to identify risk characteristics that can affect future credit loss experience. There were no significant risk characteristics identified in the review of historical experiences or in the review of estimates of current economic conditions and forecasts.

Estimating credit losses based on risk characteristics requires significant judgment by management. Significant judgments include, but are not limited to: assessing current economic conditions and the extent to which they are relevant to the existing characteristics of the Company’s financial assets, the estimated life of financial assets, and the level of reliance on historical experience in light of economic conditions. The Company will continually review and update, when necessary, its historical risk characteristics that are meaningful to estimating credit losses, any new risk characteristics that arise in the natural course of business, and the estimated life of its financial assets.

The changes in the allowance for credit losses related to accounts receivable are as follows (in thousands):


	Year Ended
	May 28, 2023		May 29, 2022		May 30, 2021
			As Restated		As Restated
Beginning balance	$	522	$	522	$	—
Provision	163		—		773
Charge-offs	(200)		—		(251)

Ending Balance	$	485	$	522	$	522

Contract Assets and Liabilities

Contract assets primarily relate to the Company’s conditional right to consideration for work completed but not billed at the reporting date. The Company’s contract assets as of May 28, 2023, and May 29, 2022, were $3.2 million and $10.4 million, respectively, and are included within accounts receivable in the Consolidated Balance Sheets.

Contract liabilities primarily relate to payments received from customers in advance of performance under the contract. The Company’s contract liabilities as of May 28, 2023, and May 29, 2022, were $7.0 million and $0.9 million, respectively, of which $4.1 million and $0.9 million is included in deferred revenue and $2.9 million and $0.0 million is included in other non-current liabilities as of May 28, 2023 and May 29, 2022, respectively, in the Consolidated Balance Sheets. Revenue recognized during the fiscal year ended May 28, 2023 that was included in the contract liability balance at the beginning of fiscal year 2023, was $0.6 million.

Revenue Recognition

The Company follows the five step, principles-based model to recognize revenue upon the transfer of promised goods or services to customers and in an amount that reflects the consideration for which the Company expects to be entitled in exchange for those goods or services. Revenue, net of estimated allowances and returns, is recognized when or as the Company satisfies its performance obligations under a contract and control of the product is transferred to the customer.

Lifecore generates revenue from two integrated activities: CDMO and Fermentation. CDMO is comprised of aseptic and development services. Lifecore’s standard terms of sale are generally included in its contracts and purchase orders. Shipping and other transportation costs charged to customers are recorded in both revenue and cost of goods sold. Lifecore has elected to account for shipping and handling as fulfillment activities, and not as a separate performance obligation. Lifecore’s standard payment terms with its customers generally range from 30 days to 60 days.

Aseptic

Lifecore provides aseptic formulation and filling of syringes and vials with precisely formulated medical grade HA and non-HA materials for injectable products used for medical purposes. In instances where our customers contract with us to aseptically fill syringes or vials with our HA, the goods are not distinct in the context of the contract. Lifecore recognizes revenue for these products at the point in time when legal title to the product is transferred to the customer, which is at the time that shipment is made or upon delivery of the product.

Development Services

Lifecore provides product development services to assist its customers in obtaining regulatory approval for the commercial sale of their drug product. These services include activities such as technology development, material component changes, analytical method development, formulation development, pilot studies, stability studies, process validation and production of materials for use within clinical studies. The Company’s customers benefit from the expertise of its scientists who have extensive experience performing such tasks.

Each of the promised goods and services are not distinct in the context of the contract as the goods and services are highly interdependent and interrelated. The services described above are significantly affected by each other because Lifecore would not be able to fulfill its promise by transferring each of the goods or services independently.

Revenues generated from development services arrangements are recognized over time as Lifecore is creating an asset without an alternate use as it is unique to the customer. Furthermore, the Company has an enforceable right to payment for the performance completed to date for its costs incurred in satisfying the performance obligation plus a reasonable profit margin. For each of the development activities performed by Lifecore as described above, labor is the primary input (i.e., labor costs represent the majority of the costs incurred in the completion of the services). The Company determined that labor hours are the best measure of progress as it most accurately depicts the effort extended to satisfy the performance obligation over time and therefore recognizes development services revenue over time based on the proportion of labor hours incurred compared to total estimated hours for an individual arrangement.

Fermentation

Lifecore manufactures and sells pharmaceutical-grade sodium hyaluronate (“HA”) in bulk form to its customers. The HA produced is distinct as customers are able to utilize the product provided under HA supply contracts when they obtain control. Lifecore recognizes revenue for these products at the point in time when legal title to the product is transferred to the customer, which is at the time that shipment is made or upon delivery of the product to our customer.

During the fourth fiscal quarter, the Company entered into a bill-and-hold arrangement with a customer under which $3.2 million of product sales were recognized in the year ended May 28, 2023. Revenue for bill-and-hold arrangements is recognized when control transfers to the customer, even though the customer does not have physical possession of the goods. Control transfers when the bill-and-hold arrangement has been determined to have substantive reason, the product is identified as belonging to the customer, the product is ready for physical transfer to the customer and the product cannot be used or directed to another customer.

The Company disaggregates its revenue based on how it markets its products and services and reviews results of operations. The following tables disaggregates revenue by major product lines and services (in thousands):


	Year Ended
	May 28, 2023		May 29, 2022		May 30, 2021
			As Restated		As Restated
Contract development and manufacturing organization	$	76,378	$	86,353	$	75,789
Fermentation	26,891		23,007		22,790
Other	—		1,910		2,295
Total	$	103,269	$	111,270	$	100,874

Development services revenues recognized over time were $28.6 million, $35.8 million and $28.2 million for the years ended May 28, 2023, May 29, 2022 and May 30, 2021, respectively, and are included in contract development and manufacturing organization. Revenues recognized at a point in time were $74.6 million, $73.6 million and $70.3 million for the years ended May 28, 2023, May 29, 2022 and May 30, 2021, respectively.

Operations of Eat Smart, Yucatan and O Olive, have been reclassified to discontinued operations for all periods presented.

Shipping and Handling Costs

Amounts billed to third-party customers for shipping and handling are included as a component of revenues. Shipping and handling costs incurred are included as a component of cost of products sold and represent costs incurred to ship products from the processing facility or distribution center to the end consumer markets.

Cash and Cash Equivalents

The Company records all highly liquid securities with three months or less from date of purchase to maturity as cash equivalents. Cash equivalents consist mainly of money market funds. The market value of cash equivalents approximates their historical cost given their short-term nature.

Reconciliation of Cash and Cash Equivalents and Cash as presented on the Statements of Cash Flows

The following table provides a reconciliation of cash and cash equivalents reported within the Consolidated Balance Sheets that sum to the total of the same such amounts shown in the Consolidated Statements of Cash Flows (in thousands):


	May 28, 2023		May 29, 2022		May 30, 2021
			As Restated		As Restated
Cash and cash equivalents – Consolidated Balance Sheet	$	19,091	$	991	$	763

Cash and cash equivalents, discontinued operations	—		652		532
Cash and cash equivalents – Consolidated Statement of Cash Flow	$	19,091	$	1,643	$	1,295

Inventories

Inventories are stated at the lower of cost (using the first-in, first-out method) or net realizable value. As of May 28, 2023 and May 29, 2022, inventories consisted of the following (in thousands):


	Year Ended
	May 28, 2023		May 29, 2022
			As Restated
Finished goods	$	13,141	$	13,397
Raw materials	17,351		15,488
Work in progress	10,349		7,115
Total inventories	$	40,841	$	36,000

If the cost of the inventories exceeds their net realizable value, provisions are recorded currently to reduce them to net realizable value. The Company also records a provision for slow moving and obsolete inventories based on the estimate of demand for its products. The Company recorded adjustments of $4.9 million and $4.6 million to record inventory to its net realizable value as of May 28, 2023 and May 29, 2022, respectively. The amounts reflected in costs of goods sold to record inventory to its net realizable value were expense of $0.3 million and expense of $3.5 million for fiscal years 2023 and 2022, respectively.

Advertising Expense

Advertising expenditures for the Company are expensed as incurred and included in selling, general, and administrative in the accompanying Consolidated Statements of Operations. Advertising expenses for the Company for fiscal years 2023, 2022 and 2021 was $5.1 thousand, $5.6 thousand and $0.1 thousand, respectively.

Related Party Transactions

During the years ended May 28, 2023, May 29, 2022 and May 30, 2021, the Company had sales to Alcon Research, LLC (“Alcon”), a related party, of $40.2 million, $29.4 million and $31.9 million, respectively. The Company had accounts receivable outstanding of $9.1 million and $6.3 million at May 28, 2023 and May 29, 2022, respectively.

Securities Purchase Agreement

On November 25, 2022, the Company entered into a Securities Purchase Agreement (the “Wynnefield Purchase Agreement”) with entities affiliated with Wynnefield Capital, Inc. and controlled by the Company’s director, Nelson Obus (the “Purchasers”). Pursuant to the Wynnefield Purchase Agreement, the Company agreed to sell an aggregate of 627,746 shares of its Common Stock (the “Shares”) for aggregate gross proceeds of $5.0 million (the “Offering”). The purchase price for each Share was $7.97. The Offering closed on November 25, 2022. Pursuant to the Wynnefield Purchase Agreement, the Company granted the Purchasers certain piggyback registration rights and agreed, among other things, to indemnify such parties under any registration statement filed that includes the Shares from certain losses, claims, damages and liabilities.

Series A Convertible Preferred Share Purchase Agreement

On January 9, 2023, the Company simultaneously signed and closed the Preferred Share Purchase Agreement with a group of qualified investors (the “Purchasers”), including, among others, entities controlled by the Company’s directors Christopher Kiper and Nelson Obus. Pursuant to the Preferred Share Purchase Agreement, the Company issued and sold an aggregate of 38,750 shares of a new series of convertible preferred stock of the Company designated as Series A Convertible Preferred Shares, par value $0.001 per share (the “Convertible Preferred Stock”) for aggregate proceeds of $38.8 million. Each share of Convertible Preferred Stock has the powers, designations, preferences and other rights as are set forth in the Certificate of Designations of the Series A Preferred Stock filed by the Company with the Delaware Secretary of State on January 9, 2023 (the “Certificate of Designations”). The Convertible Preferred Stock ranks senior to the Company’s Common Stock with respect to dividends, distributions, and payments on liquidation, winding up and dissolution.

Upon a liquidation, dissolution, winding up or change of control of the Company, each share of Convertible Preferred Stock will be entitled to receive an amount per share of Convertible Preferred Stock equal to the greater of (i) the purchase price paid by the Purchaser, plus all accrued and unpaid dividends (the “Liquidation Preference”) and (ii) the amount that the holder of

Convertible Preferred Stock (each, a “Holder” and collectively, the “Holders”) would have been entitled to receive at such time if the Convertible Preferred Stock had been converted into Common Stock immediately prior to such liquidation event.

The Holders will be entitled to dividends on the Liquidation Preference at the rate of 7.5% per annum, payable in-kind (“PIK”). The Company may, at its option, pay such dividends in cash from and after the earlier of June 29, 2026, or the termination or waiver of the restriction on cash dividends and/or redemptions that is set forth in the Credit Agreements (as defined in the Certificate of Designations) (such earlier date, the “Applicable Date”). The Holders are also entitled to participate in dividends declared or paid on the Common Stock on an as-converted basis.

Upon certain bankruptcy events, the Company is required to pay to each Holder an amount in cash equal to the Liquidation Preference being redeemed. From and after the Applicable Date, each Holder shall have the right to require the Company to redeem all or any part of the Holder’s Convertible Preferred Stock for an amount equal to the Liquidation Preference.

Each Holder of Convertible Preferred Stock has the right, at its option, to convert its Convertible Preferred Stock, in whole or in part, into fully paid and non-assessable shares of our Common Stock at an initial conversion price equal to $7.00 per share. The conversion price is subject to customary anti-dilution adjustments, including in the event of any stock split, stock dividend, recapitalization or similar events, and is also subject to adjustment in the event of subsequent offerings of Common Stock or convertible securities by the Company for less than the conversion price.

Subject to certain conditions, the Company may from time to time, at its option, require conversion of all or any portion of the outstanding shares of Convertible Preferred Stock to Common Stock if, for at least 20 consecutive trading days during the respective measuring period the closing price of the Common Stock was at least 150% of the conversion price. The Company may not exercise its right to mandatorily convert outstanding shares of Convertible Preferred Stock unless certain liquidity conditions with regard to the shares of Common Stock to be issued upon such conversion are satisfied.

The Holders are entitled to vote with the holders of the shares of Common Stock on all matters submitted for a vote of holders of shares of Common Stock (voting together with the holders of shares of Common Stock as one class) on an as-converted basis, subject to certain limitations.

Additionally, for so long as 30% of the outstanding Convertible Preferred Stock remains outstanding, certain matters will require the approval of the majority of the outstanding Convertible Preferred Stock, voting as a separate class, including (i) amending, altering or repealing any provision of the Certificate of Designations; (ii) amending, altering or repealing any provision of the Company’s Certificate of Incorporation or Bylaws, in each case, in a manner that adversely affects the powers, preferences or rights of the Convertible Preferred Stock; (iii) increasing or decreasing the authorized number of shares of Convertible Preferred Stock (except to provide for the issuance of PIK dividends); (iv) creating (including by reclassification), issuing shares of or increasing the authorized number of shares of any additional class or series of capital stock of the Company unless such class or series rank junior to the Convertible Preferred Stock and are issued at fair market value; (v) purchasing or redeeming or paying, declaring or setting aside any fund for, any dividend or distribution on, any Common Stock or other Junior Stock (as defined in the Certificate of Designations), other than purchases of equity securities of the Company upon the termination of an employee of the Company or any of its subsidiaries in accordance with the terms of such employee’s employment agreement or any equity incentive or similar plan approved by the Board; or (vi) creating, incurring, granting, entering into, permitting, assuming or allowing, directly or indirectly, (a) any indebtedness by the Company (or any of its subsidiaries), excluding equity securities and non-convertible preferred stock (but including convertible debt), at any time when, or as a result of which, the principal amount of the Company’s total outstanding and available indebtedness exceeds $175,000,000, or (b) any lien, charge or other encumbrance on all or substantially all of the Company’s (or any of its subsidiaries’) properties or assets.

Immediately following the closing of the Preferred Share Repurchase Agreement, two Series A Convertible Preferred Stock directors, Nathaniel Calloway and Christopher Kiper, were appointed to the Company’s Board of Directors.

Alcon Supply Agreement

On May 3, 2023, the Company entered into an Amended and Restated Supply Agreement (the “Supply Agreement”), dated May 3, 2023, with Alcon, which amended and restated certain existing supply agreements entered into between the Company and Alcon-Couvreur N.V., an affiliate of Alcon, related to the Company’s manufacture and supply of sodium hyaluronate (“HA”) for Alcon.

The initial term of the Supply Agreement expires December 31, 2033. Following the initial term, the Supply Agreement automatically extends for an additional two-year term unless Alcon provides the Company with a notice of non-renewal prior to the expiration of the initial term. The Supply Agreement also contains certain termination provisions which provide that the

agreement may be terminated (a) by Alcon upon six months’ written notice to the Company, or (b) by either party if the other party fails to perform or otherwise breaches any of its material obligations under the Supply Agreement, the non-breaching party notifies the breaching party of its intent to terminate the Supply Agreement, and the breaching party fails to cure such breach.

The Supply Agreement contains terms and provisions customary for transactions of this type, including product warranties and confidentiality and indemnification obligations. Orders of HA pursuant to the Supply Agreement are based on customary forecasting mechanics and are payable by Alcon based on certain prices that are subject to annual index-based adjustments. Pursuant to the Supply Agreement, the Company is also required to commit certain HA manufacturing capacity based on Alcon’s forecasts. Alcon and the Company have also agreed to negotiate in good faith to finalize a plan to increase the Company’s HA manufacturing capacity to meet the anticipated volumes. In the event the Company is unable to supply the agreed-upon volumes and safety stock pursuant to the Supply Agreement, under certain circumstances, Alcon will be entitled to certain rights with respect to the manufacturing and supply of HA for Alcon.

All related party transactions are monitored quarterly by the Company and approved by the Audit Committee of the Board of Directors.

Property and Equipment and Finite-Lived Intangible Assets

Property and equipment and finite-lived intangible assets are stated at cost. Expenditures for major improvements are capitalized while repairs and maintenance are charged to expense. Depreciation is expensed on a straight-line basis over the estimated useful lives of the respective assets. Customer relationships are amortized to operating expense on an accelerated basis that reflects the pattern in which the economic benefits are consumed. Leasehold improvements are amortized on a straight-line basis over the lesser of the economic life of the improvement or the life of the lease. Depreciation and amortization expense for these assets is recorded either in cost of product sales or selling, general and administrative expenses in the consolidated statement of operations, depending on the asset and its intended use. The Company capitalizes interest on long-term construction in process projects based on their incremental borrowing rate.

The Company capitalizes software development costs for internal use. Capitalization of software development costs begins in the application development stage and ends when the asset is placed into service. The Company amortizes such costs on a straight-line basis over estimated useful lives of three to seven years, and the amortization expenses is recorded either in cost of product sales or selling, general and administrative expenses in the consolidated statement of operations, depending on the asset and its intended use.

Property, plant and equipment and finite-lived intangible assets are reviewed for possible impairment whenever events or changes in circumstances occur that indicate that the carrying amount of an asset (or asset group) may not be recoverable. The Company’s impairment review requires significant management judgment including estimating the future success of product lines, future sales volumes, revenue and expense growth rates, alternative uses for the assets and estimated proceeds from the disposal of the assets. The Company conducts quarterly reviews of idle and underutilized equipment, and reviews business plans for possible impairment indicators. Impairment is indicated when the carrying amount of the asset (or asset group) exceeds its estimated future undiscounted cash flows and the impairment is viewed as other than temporary. When impairment is indicated, an impairment charge is recorded for the difference between the asset’s book value and its estimated fair value. Depending on the asset, estimated fair value may be determined either by use of a discounted cash flow model or by reference to estimated selling values of assets in similar condition. The use of different assumptions would increase or decrease the estimated fair value of assets and would increase or decrease any impairment measurement.

During fiscal year 2022, the Company recorded impairment charges of $5.8 million and $11.9 million related to Yucatan's customer relationships, and property & equipment, respectively. These impairment charges were primarily a result of an indication of a decrease in the fair market values of the Yucatan businesses driven by lower market valuations and a decrease in projected cash flows. The Yucatan related impairment charges are included in Loss from discontinued operations on the Consolidated Statements of Operations.

Impairment Review of Goodwill and Indefinite-Lived Intangible Asset

The Company tests its goodwill and trademarks with indefinite lives annually for impairment in the fiscal fourth quarter or earlier if there are indications during a different interim period that these assets may have become impaired.

On a quarterly basis, the Company considers the need to update its most recent annual tests for possible impairment of its indefinite-lived intangible assets and goodwill, based on management’s assessment of changes in its business and other economic factors since the most recent annual evaluation. Such changes, if significant or material, could indicate a need to update the most recent annual tests for impairment of the indefinite-lived intangible assets during the current period. The results of these tests could lead to write-downs of the carrying values of these assets in the current period.

With respect to goodwill, the Company has the option to first assess qualitative factors such as macro-economic conditions, industry and market environment, cost factors, overall financial performance of the Company, cash flow from operating activities, market capitalization, litigation, and stock price. If the result of a qualitative test indicates a potential for impairment of a reporting unit, a quantitative test is performed. The quantitative test compares the carrying amount of a reporting unit that includes goodwill to its fair value. The Company determines the fair value using a 50/50 weighting of the income and market approaches.

To determine the fair value of a reporting unit as part of its quantitative test, the Company uses a discounted cash flow (“DCF”) method under the income approach, as it believes that this approach is the most reliable indicator of the fair value of its businesses and the fair value of their future earnings and cash flows. Under this approach, which requires significant judgments, the Company estimates the future cash flows of each reporting unit and discounts these cash flows at a rate of return that reflects their relative risk and rate of return an outside investor could expect to earn. The cash flows used in the DCF method are consistent with those the Company uses in its internal planning, which gives consideration to actual business trends experienced, and the broader business strategy for the long term. The other key estimates and factors used in the DCF method include, but are not limited to, future volumes, net sales and expense growth rates, and gross margin and gross margin growth rates. Changes in such estimates or the application of alternative assumptions could produce different results. A goodwill impairment loss is recognized for the amount that the carrying amount of a reporting unit, including goodwill, exceeds its fair value, limited to the total amount of goodwill allocated to that reporting unit.

For trademarks and other intangible assets with indefinite lives, the Company has the option to first assess qualitative factors such as macro-economic conditions, industry and market environment, cost factors, overall financial performance of the Company, litigation, and changes in the business in its annual, qualitative analysis to test for impairment. If the results of a qualitative test indicate a potential for impairment of an intangible asset with an indefinite life, a quantitative test is performed. The quantitative test compares the estimated fair value of an asset to its carrying amount. If the carrying amount of such asset exceeds its estimated fair value, an impairment charge is recorded for the difference between the carrying amount and the estimated fair value. The Company uses the income approach to estimate the fair value of its trademarks. This approach requires significant judgments in determining the royalty rates and the assets’ estimated cash flows as well as the appropriate discount rates applied to those cash flows to determine fair value. Changes in such estimates or the use of alternative assumptions could produce different results.

During fiscal year 2022, the Company recorded impairment charges of $32.1 million and $20.0 million related to its Eat Smart business and Yucatan goodwill, respectively. The Company also recorded an impairment charge of $8.4 million related to its Yucatan trademarks. These impairment charges were primarily a result of an indication of a decrease in the fair market values of the Eat Smart and Yucatan businesses driven by lower market valuations and a decrease in projected cash flows. The Eat Smart and Yucatan impairment charges are included in Loss from discontinued operations within the Consolidated Statements of Operations.

During fiscal year 2023, the Company recorded an impairment charge of $1.0 million related to Yucatan indefinite-lived intangible asset related to trademarks/tradenames. In addition, during the quarter ended November 27, 2022, the Company recorded an impairment charge of $0.3 million related to O Olive’s indefinite-lived intangible asset for their trademarks/tradenames. The impairments were determined using the royalty savings method to estimate the fair value of its trademarks and was primarily a result of an indication of a decrease in the fair market value of the Yucatan and O Olive businesses driven by lower market valuations and a decrease in projected cash flows. The impairment charges are included in Loss from sales in discontinued operations on the Consolidated Statements of Operations.

Other than the goodwill and intangibles write-offs discussed above, there were no other impairment losses for goodwill or intangibles during fiscal years 2023, 2022 and 2021.

Leases

Under Topic 842, the Company determines if an arrangement is a lease at inception. Right-of-use (“ROU”) assets and liabilities are recognized at commencement date based on the present value of remaining lease payments over the lease term. For this purpose, the Company considers only payments that are fixed and determinable at the time of commencement. As most of the leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments. The incremental borrowing rate is a quoted rate based on the understanding of what the Company’s credit rating would be. Certain agreements may contain the option to extend the lease term, terminate the lease before the contractual expiration date, or purchase the leased asset. The Company, when reasonably certain to exercise the option, considers these options in determining the measurement of the lease. The Company’s lease agreements do not contain any material residual value guarantees.

The Company’s lease agreements generally contain lease and non-lease components. Non-lease components primarily include payments for maintenance and utilities. The Company combines fixed payments for non-lease components with lease payments and accounts for them together as a single lease component which increases the amount of lease assets and liabilities.

Payments under lease arrangements are primarily fixed; however, certain lease agreements contain variable payments, which are expensed as incurred and are not included in the operating lease assets and liabilities. These amounts primarily include payments affected by changes in price indices.

Investment in Non-Public Company

On February 15, 2011, the Company made an investment in Windset which is reported at fair value in the accompanying Consolidated Balance Sheets as of May 30, 2021. The Company has elected to account for its investment in Windset under the fair value option. See Note 1 – Organization, Basis of Presentation, and Summary of Significant Accounting Policies for further information. On June 1, 2021, the Company sold all of its equity interest in Windset to the Newell Capital Corporation and Newell Brothers Investment 2 Corp.

Deferred Revenue

Cash received in advance of services performed are recorded as deferred revenue.

Income Taxes

The Company accounts for income taxes in accordance with accounting guidance which requires that deferred tax assets and liabilities be recognized using enacted tax rates for the effect of temporary differences between the book and tax basis of recorded assets and liabilities. The Company maintains valuation allowances when it is likely that all or a portion of a deferred tax asset will not be realized. Changes in valuation allowances from period to period are included in the Company’s income tax provision in the period of change. In determining whether a valuation allowance is warranted, the Company considers such factors as prior earnings history, expected future earnings, unsettled circumstances that, if unfavorably resolved, would adversely affect utilization of a deferred tax asset, carryback and carryforward periods and tax strategies that could potentially enhance the likelihood of realization of a deferred tax asset.

In addition to valuation allowances, the Company establishes accruals for uncertain tax positions. The tax-contingency accruals are adjusted in light of changing facts and circumstances, such as the progress of tax audits, case law and emerging legislation. The Company recognizes interest and penalties related to uncertain tax positions as a component of income tax expense. The Company’s effective tax rate includes the impact of tax-contingency accruals as considered appropriate by management.

A number of years may elapse before a particular matter, for which the Company has accrued, is audited and finally resolved. The number of years with open tax audits varies by jurisdiction. While it is often difficult to predict the final outcome or the timing of resolution of any particular tax matter, the Company believes its tax-contingency accruals are adequate to address known tax contingencies. Favorable resolution of such matters could be recognized as a reduction to the Company’s effective tax rate in the year of resolution. Unfavorable settlement of any particular issue could increase the Company’s effective tax rate in the year of resolution. Any resolution of a tax issue may require the use of cash in the year of resolution. The Company’s tax-contingency accruals are recorded in Other accrued liabilities in the accompanying Consolidated Balance Sheets.

Per Share Information

Accounting guidance requires the presentation of basic and diluted earnings per share. Basic earnings per share exclude any dilutive effects of options, warrants and convertible securities and is computed using the weighted average number of common shares outstanding. Diluted earnings per share reflect the potential dilution as if securities or other contracts to issue Common Stock were exercised or converted into Common Stock. Diluted common equivalent shares consist of stock options and restricted stock units, calculated using the treasury stock method.

The following table sets forth the computation of diluted net loss per share:


	Year Ended
(in thousands, except per share amounts)	May 28, 2023		May 29, 2022		May 30, 2021
			As Restated		As Restated
Numerator:
Net loss	$	(99,563)	$	(116,715)	$	(32,294)

Denominator:
Weighted average shares for basic net loss per share	29,958		29,466		29,294


Weighted average shares for diluted net loss per share	29,958		29,466		29,294

Diluted net loss per share	$	(3.32)	$	(3.97)	$	(1.10)

Due to the Company’s net loss in fiscal years 2023, 2022, and 2021 the net loss per share includes only the weighted average shares outstanding and thus excludes restricted stock unit awards (“RSUs”) and stock options, as such impact would be antidilutive. The Company's convertible preferred stock does not participate in losses of the company, and such securities have also been excluded from diluted net loss per share or calculating common and preferred diluted net loss under the two class method. See Note 5 - Stock Based Compensation and Stockholders’ Equity for more information on outstanding RSUs and stock options.

Research and Development Expenses

Costs related to both research and development contracts and Company-funded research is included in research and development expenses. Research and development costs are primarily comprised of salaries and related benefits, supplies, travel expenses, consulting expenses and corporate allocations.

Accounting for Stock-Based Compensation

The Company’s stock-based awards include stock option grants and RSUs. The Company records compensation expense for stock-based awards issued to employees and directors in exchange for services provided based on the estimated fair value of the awards on their grant dates and is recognized over the required service periods, generally the vesting period.

The estimated fair value for stock options, which determines the Company’s calculation of stock-based compensation expense, is based on the Black-Scholes option pricing model. The use of Black-Scholes requires the Company to make estimates and assumptions, such as expected volatility, expected term, and risk-free interest rate. RSUs are valued at the closing market price of the Company’s Common Stock on the date of grant. The Company uses the straight-line single option method to calculate and recognize the fair value of stock-based compensation arrangements.

Employee Savings and Investment Plans

The Company sponsors a 401(k) plan (“Lifecore Plan”), which is available to all full-time Lifecore Biomedical employees and allows participants to contribute from 1% to 50% of their salaries, up to the Internal Revenue Service limitation into designated investment funds. The Company matches 100% on the first 3% and 50% on the next 2% contributed by an employee. Employee and Company contributions are fully vested at the time of the contributions. The Company retains the right, by action of the Board of Directors, to amend, modify, or terminate the plan. For fiscal years 2023, 2022 and 2021, the Company contributed $1.5 million, $1.4 million and $1.1 million, respectively, to the Lifecore Plan.

Fair Value Measurements

The Company uses fair value measurement accounting for financial assets and liabilities and for financial instruments and certain other items measured at fair value. The Company has not elected the fair value option for any of its other eligible financial assets or liabilities.

Applicable accounting guidance establishes a three-tier hierarchy for fair value measurements, which prioritizes the inputs used in measuring fair value as follows:

Level 1 – observable inputs such as quoted prices for identical instruments in active markets.

Level 2 – inputs other than quoted prices in active markets that are observable either directly or indirectly through corroboration with observable market data.

Level 3 – unobservable inputs in which there is little or no market data, which would require the Company to develop its own assumptions.

The New Term Loan Credit Facility contains embedded derivatives requiring bifurcation as a derivative instrument. The derivative liability related to the Term Loan is recorded as a discount to the term loan in the consolidated financial statements. The embedded derivative liability is subject to remeasurement at the end of each reporting period, with changes in fair value recognized as a component of other expense, net. The fair value of the embedded derivative liabilities associated with the term loan was estimated using a probability weighted discounted cash flow model to measure the fair value. This involves significant Level 3 inputs and assumptions including an (i) estimated probability and timing of a change in control and event of default, and (ii) our risk-adjusted discount rate. At May 28, 2023, the fair value of the embedded derivative liability approximated the fair value upon issuance.

As of May 29, 2022, related to the assets of Curation Foods’ BreatheWay packaging technology business, the Company had $1.0 million in Prepaid expenses and other current assets within the Consolidated Balance Sheets meeting the criteria of held for sale. These assets are recognized at the lower of cost or fair value less cost to sell using market approach. The fair value of these assets are classified as level 3 in the fair value hierarchy due to a mix of unobservable inputs utilized such as independent research in the market as well as actual quotes from market participants.

Imprecision in estimating unobservable market inputs can affect the amount of gain or loss recorded for a particular position. The use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different estimate of fair value at the reporting date.

The following table summarizes the fair value of the Company’s assets and liabilities that are measured at fair value on a recurring and non-recurring basis (in thousands):


	Fair Value at May 28, 2023						Fair Value at May 29, 2022
Assets:	Level 1		Level 2		Level 3		Level 1		Level 2		Level 3
Assets held for sale - nonrecurring	$	—	$	—	$	—	$	—	$	—	$	1,027




Total assets	$	—	$	—	$	—	$	—	$	—	$	1,027
Liabilities:
Debt derivative liability	$	—	$	—	$	64,900	$	—	$	—	$	—

Total liabilities	$	—	$	—	$	64,900			$	—	$	—

The key inputs to the valuation models that were utilized to estimate the fair value of the debt derivative liability were as follows as of May 28, 2023:


						Debt Derivative Liability
Assumptions
Discount rate						22.3% — 24.5%
Implied spread						18.5%
Risk free rate						3.8% — 6.0%

The following table reflects the fair value roll forward reconciliation of Level 3 assets and liabilities measured at fair value for the twelve months ended May 29, 2022 (in thousands):


	Windset Investment (As Restated)
Balance as of May 30, 2021	$	44,769
Sale of Investment in non-public company	(44,769)
Balance as of May 29, 2022	$	—

Accounting Pronouncements

On January 9, 2023, upon the issuance of the Series A Convertible Preferred Stock (as defined in Note 2– Convertible Preferred Stock), the Company adopted ASU No. 2020-06, “Debt — Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging — Contracts in Entity’s Own Equity (Subtopic 815-40)”. This ASU simplified the accounting for certain financial instruments with characteristics of liabilities and equity. The FASB reduced the number of accounting models for convertible debt and convertible preferred stock instruments and made certain disclosure amendments to improve the information provided to users.

We do not expect that any recently issued accounting pronouncements will have a material effect on our financial statements.

Correction of Error in Previously Reported Fiscal Year 2022 and 2021 Annual Financial Statements

The Company is restating its previously issued audited consolidated financial statements as of and for the years ended May 29, 2022 and May 30, 2021 (“Prior Financial Statements”), as well as the interim periods within those fiscal years and interim periods within fiscal year 2023, in the fiscal year 2023 Annual Report on Form 10-K (the “Restatement”). The Restatement results from the identification of errors related to the accounting for net realizable value of its inventory, capitalized interest for construction in progress, revenue and cost of goods sold, and reclassification of the presentation of certain operating costs and expenses of continuing operations and discontinued operations. The restatement also includes previously unrecorded adjustments, including out of period errors, being recorded in the correct accounting period. Impacts for periods prior to fiscal year 2021 have been accumulated and presented as an adjustment to the beginning balance of retained earnings for the May 30, 2021 fiscal year.

The Company has assessed the materiality of these errors in accordance with the U.S. Securities and Exchange Commission Staff Accounting Bulletin No. 99 (“SAB”), Materiality and SAB No. 108, Quantifying Financial Statement Misstatements, and has concluded that the errors are material to the financial statements and therefore the Prior Financial Statements should be restated.

For a more detailed description of the financial impact of the restatements of the Non-Reliance Periods, see Note 13 - Correction of Errors in Previously Reported Fiscal Year 2022 and 2021 Annual Financial Statements and Note 14 – Unaudited Quarterly Consolidated Financial Information included in Part IV, Item 15 of this Annual Report on Form 10-K.

Leases - Narrative (Details) $ in Thousands		12 Months Ended
Leases - Narrative (Details) $ in Thousands	Sep. 03, 2015 USD ($) ft² renewalOption mi	May 28, 2023 USD ($)	May 29, 2022 USD ($)	May 30, 2021 USD ($)	Dec. 31, 2022
Lessee, Lease, Description [Line Items]
Leased area \| ft²	80,950
Distance from current facility \| mi	2
Initial lease term	7 years
Number of renewal options \| renewalOption	2
Lease renewal term	5 years				5 years
Gross assets recorded under finance leases		$ 3,900	$ 3,800
Accumulated amortization associated with finance leases		800	700
Initial monthly lease payment	$ 34
Percentage by which monthly payment increases per year	2.40%
Operating lease, impairment loss				$ 1,700
Santa Maria Office
Lessee, Lease, Description [Line Items]
Operating lease, impairment loss		600	1,600
Curation Foods Los Angeles, California
Lessee, Lease, Description [Line Items]
Operating lease, impairment loss		$ 100	$ 400

Organization, Basis of Presentation, and Summary of Significant Accounting Policies - Discontinued Operations (Details) - USD ($)							1 Months Ended		3 Months Ended					6 Months Ended	9 Months Ended		12 Months Ended
	Feb. 22, 2024	Dec. 11, 2023	Sep. 28, 2023	Apr. 06, 2023	Feb. 07, 2023	Jun. 02, 2022	Feb. 29, 2024	Dec. 31, 2021	Feb. 26, 2023	Nov. 27, 2022	Aug. 28, 2022	Feb. 27, 2022	Feb. 28, 2021	Nov. 27, 2022	Feb. 26, 2023	Feb. 27, 2022	May 28, 2023	May 29, 2022	May 30, 2021	Dec. 13, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Transition services income									$ 78,000	$ 24,000	$ 44,000	$ 5,473,000	$ (1,110,000)	$ 68,000			$ 349,000	$ 5,814,000	$ 0
Subsequent Event
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from note receivable							$ 900,000
Yucatan Foods
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from divestiture of businesses																	11,803,000	0	0
(Loss) gain on disposition of business																	(20,663,000)	0	0
BreatheWay
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from divestiture of businesses											3,135,000			3,135,000	$ 3,135,000		3,135,000	0	0
(Loss) gain on disposition of business											$ 2,108,000			$ 2,108,000	$ 2,108,000		2,108,000	0	0
Eat Smart
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from divestiture of businesses																$ 73,500,000	0	73,500,000	0
Transition services income																		5,800,000
O Olive
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from divestiture of businesses				$ 1,700,000													1,733,000	0	0
(Loss) gain on disposition of business																	$ (319,000)	0	$ 0
O Olive and Yucatan
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Transition services income																		$ 300,000
Discontinued Operations, Disposed of by Sale \| O Olive Oil and Vinegar Business
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Consideration received				6,400,000
Post-closing adjustments				3,300,000
Financing receivable				$ 3,100,000
Note receivable, stated rate				12.00%
Discontinued Operations, Disposed of by Sale \| O Olive Oil and Vinegar Business \| Subsequent Event
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from note receivable	$ 18,000	$ 300,000	$ 2,400,000
Discontinued Operations, Disposed of by Sale \| Yucatan Foods
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Consideration received					$ 17,500,000
Post-closing adjustments					$ 5,000,000
Discontinued Operations, Disposed of by Sale \| BreatheWay
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Consideration received						$ 3,200,000
Proceeds from divestiture of businesses						3,100,000
(Loss) gain on disposition of business						$ 2,100,000
Discontinued Operations, Disposed of by Sale \| Eat Smart
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Consideration received																				$ 73,500,000
(Loss) gain on disposition of business								$ (300,000)

Correction of Errors in Previously Reported Fiscal Year 2022 and 2021 Annual Financial Statements - Allowance for Sales Returns and Credit Losses (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended			9 Months Ended			12 Months Ended
	Aug. 28, 2022	Aug. 29, 2021	Aug. 30, 2020	Nov. 27, 2022	Nov. 28, 2021	Nov. 29, 2020	Feb. 26, 2023	Feb. 27, 2022	Feb. 28, 2021	May 28, 2023	May 29, 2022	May 30, 2021
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 522	$ 522	$ 0	$ 522	$ 522	$ 0	$ 522	$ 522	$ 0	$ 522	$ 522	$ 0
Provision	0	0	0	0	0	0	200	0	0	163	0	773
Charge-offs	0	0	0	0	0	0	(200)	0	0	(200)	0	(251)
Ending Balance	522	522	0	522	522	0	522	522	0	485	522	522
Discontinued Operations
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	65	85	186	65	85	186	65	85	186	65	85	186
Provision	0	0		0	(14)						(14)	(64)
Charge-offs	0	0		0	0						(6)	(37)
Ending Balance	65	85		65	71						65	85
As Reported
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	65	85	186	65	85	186	65	85	186	65	85	186
Provision	0	0		0	(14)						(14)	187
Charge-offs	0	0		0	0						(6)	(288)
Ending Balance	65	85		65	71						65	85
Restatement
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	522	522	0	522	522	0	522	522	0	522	522	0
Provision	0	0		0	0						0	522
Charge-offs	0	0		0	0						0	0
Ending Balance	522	522		522	522						522	522
As Restated
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	587	607	$ 186	587	607	$ 186	$ 587	$ 607	$ 186	$ 587	607	186
Provision	0	0		0	(14)						(14)	709
Charge-offs	0	0		0	0						(6)	(288)
Ending Balance	$ 587	$ 607		$ 587	$ 593						$ 587	$ 607

Organization, Basis of Presentation, and Summary of Significant Accounting Policies - Fair Value of Assets and Liabilities (Details) - USD ($) $ in Thousands	May 28, 2023	May 29, 2022	May 30, 2021
Assets:
Asset held for sale		$ 1,000
Liabilities:
Debt derivative liability	$ 64,900	0
Nonrecurring
Assets:
Asset held for sale		1,000
Level 1
Assets:
Total assets			$ 0
Level 1 \| Nonrecurring
Assets:
Asset held for sale	0	0
Total assets	0	0
Level 1 \| Recurring
Liabilities:
Debt derivative liability	0	0
Total liabilities	0
Level 2
Assets:
Total assets			0
Level 2 \| Nonrecurring
Assets:
Asset held for sale	0	0
Total assets	0	0
Level 2 \| Recurring
Liabilities:
Debt derivative liability	0	0
Total liabilities	0	0
Level 3
Assets:
Total assets			$ 45,284
Level 3 \| Nonrecurring
Assets:
Asset held for sale	0	1,027
Total assets	0	1,027
Level 3 \| Recurring
Liabilities:
Debt derivative liability	64,900	0
Total liabilities	$ 64,900	$ 0

Organization, Basis of Presentation, and Summary of Significant Accounting Policies - Revenue Narrative (Details) - USD ($) $ in Thousands	3 Months Ended											6 Months Ended	12 Months Ended
	May 28, 2023	Feb. 26, 2023	Nov. 27, 2022	Aug. 28, 2022	May 29, 2022	Feb. 27, 2022	Nov. 28, 2021	Aug. 29, 2021	Feb. 28, 2021	Nov. 29, 2020	Aug. 30, 2020	Nov. 27, 2022	May 28, 2023	May 29, 2022	May 30, 2021
Revenue from External Customer [Line Items]
Product sales	$ 31,145	$ 26,536	$ 21,864	$ 23,724	$ 28,107	$ 35,232	$ 25,601	$ 22,330	$ 27,807	$ 23,792	$ 22,675	$ 45,587	$ 103,269	$ 111,270	$ 100,874
Billed Revenues
Revenue from External Customer [Line Items]
Product sales	$ 3,200

- Definition

Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479941/924-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-4

+ Details

Organization, Basis of Presentation, and Summary of Significant Accounting Policies - Employee Saving Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	May 28, 2023	May 29, 2022	May 30, 2021
Organization, Basis of Presentation, and Summary of Significant Accounting Policies [Line Items]
Amount participants are allowed to contribute of their salaries	50.00%
Company contribution to employee contribution plan	$ 1,500	$ 1,400	$ 1,100
First Three Percent Match
Organization, Basis of Presentation, and Summary of Significant Accounting Policies [Line Items]
Company match of contribution plan, percent	100.00%
Percent of employees' gross pay	3.00%
Next Two Percent Match
Organization, Basis of Presentation, and Summary of Significant Accounting Policies [Line Items]
Company match of contribution plan, percent	50.00%
Percent of employees' gross pay	2.00%

Unaudited Quarterly Consolidated Financial Information

12 Months Ended

May 28, 2023

Quarterly Financial Information Disclosure [Abstract]

Unaudited Quarterly Consolidated Financial Information

The quarterly financial information for fiscal years 2023 and 2022 has been reclassified to present the information after taking into effect the O Olive Sale, Yucatan Disposition, and Eat Smart Disposition as disclosed in Note 1 – Organization, Basis of Presentation, and Summary of Significant Accounting Policies - Discontinued Operations - O Olive Sale, Yucatan Disposition, BreatheWay Disposition and Eat Smart Disposition.

The following is a summary of the unaudited quarterly results of operations for fiscal years 2023 and 2022 (in thousands, except for per share amounts).


	As restated		As restated		As restated
Fiscal Year 2023	1st Quarter		2nd Quarter		3rd Quarter		4th Quarter		Annual
Product sales	$	23,724	$	21,864	$	26,536	$	31,145	$	103,269
Gross profit	5,979		5,679		8,548		7,779		27,985
Net loss from continuing operations	(6,707)		(9,201)		(11,330)		(36,998)		(64,236)
Net loss from discontinued operations	(4,259)		(3,605)		(25,177)		(2,286)		(35,327)
Net loss per basic and diluted share from continuing operations	$	(0.23)	$	(0.31)	$	(0.37)	$	(1.23)	$	(2.14)
Net loss per basic and diluted share from discontinued operations	$	(0.14)	$	(0.12)	$	(0.83)	$	(0.09)	$	(1.18)
Total net loss per basic and diluted share	$	(0.37)	$	(0.43)	$	(1.20)	$	(1.32)	$	(3.32)


	As restated		As restated		As restated				As restated
Fiscal Year 2022	1st Quarter		2nd Quarter		3rd Quarter		4th Quarter		Annual
Product sales	$	22,330	$	25,601	$	35,232	$	28,107	$	111,270
Gross profit	5,545		11,458		11,639		10,424		39,066
Net loss from continuing operations	(8,473)		7,547		(10,920)		(3,630)		(15,476)
Net loss from discontinued operations	(914)		(46,018)		(2,666)		(51,641)		(101,239)
Net loss per basic and diluted share from continuing operations	$	(0.29)	$	0.25	$	(0.37)	$	(0.12)	$	(0.53)
Net loss per basic and diluted share from discontinued operations	$	(0.03)	$	(1.56)	$	(0.09)	$	(1.76)	$	(3.44)
Total net loss per basic and diluted share	$	(0.32)	$	(1.31)	$	(0.46)	$	(1.88)	$	(3.97)

The following is a summary of the unaudited quarterly results of operations for fiscal years 2023, 2022 and 2021 (in thousands, except for per share amounts). Refer to see Note 13 - Correction of Errors in Previously Reported Fiscal Year 2022 and 2021 Annual Financial Statements.

Description of Quarterly Restatement Tables

In lieu of filing amended quarterly reports on Form 10-Q, the tables below represent our restated unaudited consolidated financial statements for each of the previously completed quarters during the fiscal years ended May 28, 2023, May 29, 2022, May 30, 2021. The following tables present the impact of the restatement on our previously reported consolidated statements of operations, balance sheets, statements of stockholders' equity (deficit), statements of cash flows, and certain disclosures for which the values were derived from our Quarterly Reports on Form 10-Q for the interim periods of fiscal years 2023, 2022 and 2021. For further information on the restatement, refer to Note 13 - Correction of Error in Previously Reported Fiscal Year 2022 and 2021 Financial Statements.

As of and for the three and nine months ended February 26, 2023

The effects of the restatement on the consolidated balance sheet as of February 26, 2023 are summarized in the following table:


	February 26, 2023
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
ASSETS
Current Assets:
Cash and cash equivalents	$	2,950	$	—	$	2,950	$	—	$	2,950
Accounts receivable, net	32,371		(671)		31,700		(726)		30,974
Inventories	48,696		(3,437)		45,259		(3,217)		42,042
Prepaid expenses and other current assets	4,422		(1,205)		3,217		(1,744)		1,473
Current assets, discontinued operations	—		—		—		5,687		5,687
Total Current Assets	88,439		(5,313)		83,126		—		83,126

Property and equipment, net	120,799		5,933		126,732		(406)		126,326
Operating lease right-of-use assets	5,924		(117)		5,807		(707)		5,100
Goodwill	13,881		—		13,881		—		13,881
Trademarks/tradenames, net	4,400		—		4,400		(200)		4,200
Other non-current assets	2,710		—		2,710		(11)		2,699
Non-current assets, discontinued operations	—		—		—		1,324		1,324
Total Assets	$	236,153	$	503	$	236,656	$	—	$	236,656

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities:
Accounts payable	$	14,762	$	(79)	$	14,683	$	(26)	$	14,657
Accrued compensation	6,733		—		6,733		—		6,733
Other accrued liabilities	12,012		(193)		11,819		(193)		11,626
Current portion of lease liabilities	1,455		—		1,455		(239)		1,216
Deferred revenue	2,711		—		2,711		—		2,711
Current liabilities, discontinued operations	—		—		—		458		458
Total Current Liabilities	37,673		(272)		37,401		—		37,401

Line of credit	16,000		—		16,000		—		16,000
Long-term debt, net	98,964		(64)		98,900		—		98,900
Long-term lease liabilities	10,516		—		10,516		(518)		9,998
Deferred taxes, net	80		—		80		—		80
Other non-current liabilities	203		—		203		—		203
Non-current liabilities, discontinued operations	—		—		—		518		518
Total Liabilities	163,436		(336)		163,100		—		163,100

Convertible Preferred Stock	$	38,510	$	25	$	38,535	$	—	$	38,535

Stockholders’ Equity:
Common stock	30		—		30		—		30
Additional paid-in capital	174,268		(25)		174,243		—		174,243
(Accumulated deficit) Retained earnings	(140,091)		839		(139,252)		—		(139,252)

Total Stockholders’ Equity	34,207		814		35,021		—		35,021
Total Liabilities and Stockholders’ Equity	$	236,153	$	503	$	236,656	$	—	$	236,656

The effects of the restatement on the consolidated statement of operations and comprehensive income (loss) for the three months February 26, 2023 are summarized in the following table:


	Three Months Ended February 26, 2023
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Product sales	$	27,600	$	206	$	27,806	$	(1,270)	$	26,536
Cost of product sales	21,622		(2,263)		19,359		(1,371)		17,988
Gross profit	5,978		2,469		8,447		101		8,548
Operating costs and expenses:
Research and development	1,964		276		2,240		(6)		2,234
Selling, general and administrative	10,972		(53)		10,919		(640)		10,279


Restructuring costs	2,741		(175)		2,566		—		2,566
Total operating costs and expenses	15,677		48		15,725		(646)		15,079
Operating (loss) income	(9,699)		2,421		(7,278)		747		(6,531)


Interest income	22		—		22		—		22
Interest expense	(5,818)		963		(4,855)		—		(4,855)
Transition services income	70		8		78		—		78
Other income (expense)	34		(8)		26		—		26
Net (loss) income from continuing operations before taxes	(15,391)		3,384		(12,007)		747		(11,260)
Income tax expense	(70)		—		(70)		—		(70)
Net (loss) income from continuing operations	(15,461)		3,384		(12,077)		747		(11,330)

Discontinued operations:
(Loss) gain from discontinued operations	(24,731)		301		(24,430)		(747)		(25,177)

(Loss) gain from discontinued operations, net of tax	(24,731)		301		(24,430)		(747)		(25,177)
Consolidated net (loss) income	$	(40,192)	$	3,685	$	(36,507)	$	—	$	(36,507)



Basic net (loss) income per share:
(Loss) income from continuing operations	$	(0.51)	$	0.12	$	(0.39)	$	0.02	$	(0.37)
(Loss) income from discontinued operations	$	(0.82)	$	0.01	$	(0.81)	$	(0.02)	$	(0.83)
Total basic net (loss) income per share	$	(1.33)	$	0.13	$	(1.20)	$	—	$	(1.20)

Diluted net (loss) income per share:
(Loss) income from continuing operations	$	(0.51)	$	0.12	$	(0.39)	$	0.02	$	(0.37)
(Loss) income from discontinued operations	$	(0.82)	$	0.01	$	(0.81)	$	(0.02)	$	(0.83)
Total diluted net (loss) income per share	$	(1.33)	$	0.13	$	(1.20)	$	—	$	(1.20)

Shares used in per share computation
Basic	30,304		—		30,304		—		30,304
Diluted	30,304		—		30,304		—		30,304



	Three Months Ended February 26, 2023
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Net (loss) income	$	(40,192)	$	3,685	$	(36,507)	$	—	$	(36,507)



Total comprehensive (loss) income	$	(40,192)	$	3,685	$	(36,507)	$	—	$	(36,507)

The effects of the restatement on the consolidated statement of operations and comprehensive income (loss) for the nine months February 26, 2023 are summarized in the following table:


	Nine Months Ended February 26, 2023
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Product sales	$	77,748	$	400	$	78,148	$	(6,025)	$	72,123
Cost of product sales	58,178		(905)		57,273		(5,356)		51,917
Gross profit	19,570		1,305		20,875		(669)		20,206
Operating costs and expenses:
Research and development	6,128		525		6,653		(32)		6,621
Selling, general and administrative	31,201		(2,417)		28,784		(2,109)		26,675
Impairment of indefinite-lived intangible assets	300		—		300		(300)		—
Gain on sale of BreatheWay	(2,108)		—		(2,108)		—		(2,108)

Restructuring costs	4,611		(435)		4,176		—		4,176
Total operating costs and expenses	40,132		(2,327)		37,805		(2,441)		35,364
Operating (loss) income	(20,562)		3,632		(16,930)		1,772		(15,158)


Interest income	53		—		53		—		53
Interest expense	(13,715)		1,990		(11,725)		—		(11,725)
Transition services income	70		76		146		—		146
Other (expense) income	(481)		5		(476)		—		(476)
Net (loss) income from continuing operations before taxes	(34,635)		5,703		(28,932)		1,772		(27,160)
Income tax expense	(78)		—		(78)		—		(78)
Net (loss) income from continuing operations	(34,713)		5,703		(29,010)		1,772		(27,238)

Discontinued operations:
(Loss) income from discontinued operations	(29,279)		(1,990)		(31,269)		(1,772)		(33,041)

(Loss) income from discontinued operations, net of tax	(29,279)		(1,990)		(31,269)		(1,772)		(33,041)
Consolidated net (loss) income	$	(63,992)	$	3,713	$	(60,279)	$	—	$	(60,279)



Basic net (loss) income per share:
(Loss) income from continuing operations	$	(1.16)	$	0.19	$	(0.97)	$	0.06	$	(0.91)
Loss from discontinued operations	$	(0.98)	$	(0.07)	$	(1.05)	$	(0.06)	$	(1.11)
Total basic net (loss) income per share	$	(2.14)	$	0.12	$	(2.02)	$	—	$	(2.02)

Diluted net (loss) income per share:


(Loss) income from continuing operations	$	(1.16)	$	0.19	$	(0.97)	$	0.06	$	(0.91)
Loss from discontinued operations	$	(0.98)	$	(0.07)	$	(1.05)	$	(0.06)	$	(1.11)
Total diluted net (loss) income per share	$	(2.14)	$	0.12	$	(2.02)	$	—	$	(2.02)

Shares used in per share computation
Basic	29,838		—		29,838		—		29,838
Diluted	29,838		—		29,838		—		29,838

	Nine Months Ended February 26, 2023
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations

Net (loss) income	$	(63,992)	$	3,713	$	(60,279)	$	—	$	(60,279)
Other comprehensive (loss) income, net of tax:
Net unrealized gains on interest rate swaps, net of tax	586		—		586		—		586
Other comprehensive income, net of tax	586		—		586		—		586
Total comprehensive (loss) income	$	(63,406)	$	3,713	$	(59,693)	$	—	$	(59,693)

The effects of the restatement on the consolidated statement of convertible preferred stock and stockholders' equity (deficit) for the three and nine months ended February 26, 2023 are summarized in the following table:


	Convertible Preferred Stock			Common Stock			Additional Paid-in Capital		Retained Earnings (Accumulated Deficit)		Accumulated Other Comprehensive Loss		Total Stockholders’ Equity
	Shares	Amount		Shares	Amount
As Reported
Balance at May 29, 2022	—	$	—	29,513	$	30	$	167,352	$	(76,099)	$	(586)	$	90,697
Issuance of stock under stock plans, net of shares withheld	—	—		80	—		—		—		—		—
Taxes paid by Company for employee stock plans	—	—		—	—		(67)		—		—		(67)
Stock-based compensation	—	—		—	—		785		—		—		785
Net loss	—	—		—	—		—		(11,351)		—		(11,351)
Other comprehensive income, net of tax	—	—		—	—		—		—		300		300
Balance at August 28, 2022	—	$	—	29,593	$	30	$	168,070	$	(87,450)	$	(286)	$	80,364
Issuance of stock under stock plans, net of shares withheld	—	—		76	—		—		—		—		—
Taxes paid by Company for employee stock plans	—	—		—	—		(142)		—		—		(142)
Stock-based compensation	—	—		—	—		1,108		—		—		1,108
Net loss	—	—		—	—		—		(12,449)		—		(12,449)
Other comprehensive income, net of tax	—	—		—	—		—		—		286		286
Issuance of shares to Wynnefield Capital, Inc., net of issuance costs	—	—		628	—		5,000		—		—		5,000
Balance at November 27, 2022	—	$	—	30,297	$	30	$	174,036	$	(99,899)	$	—	$	74,167
Issuance of stock under stock plans, net of shares withheld	—	—		22	—		—		—		—		—


Proceeds of Convertible Preferred Stock, net of issuance costs	39	38,082		—	—		—		—		—		—
Convertible Preferred Stock PIK dividend	—	428		—	—		(428)		—		—		(428)
Cost of issuance of shares to Wynnefield Capital, Inc.	—	—		—	—		(178)		—		—		(178)
Taxes paid by Company for employee stock plans	—	—		—	—		(65)		—		—		(65)
Stock-based compensation	—	—		—	—		903		—		—		903
Net loss	—	—		—	—		—		(40,192)		—		(40,192)

Balance at February 26, 2023	39	$	38,510	30,319	$	30	$	174,268	$	(140,091)	$	—	$	34,207

Restatements Adjustments
Opening retained earnings (at May 29, 2022)	—	—		—	—		—		(2,874)		—		(2,874)
Net income at August 28, 2022	—	—		—	—		—		385		—		385
Opening retained earnings (at August 28, 2022)	—	—		—	—		—		(2,489)		—		(2,489)
Cost of issuance of shares to Wynnefield Capital, Inc.	—	—		—	—		(178)		—		—		(178)
Net loss at November 27, 2022	—	—		—	—		—		(357)		—		(357)
Opening retained earnings	—	—		—	—		—		(2,846)		—		(2,846)
Q3 Accretion of Preferred Stock Issue costs	—	25		—	—		(25)		—		—		(25)
Net income at February 26, 2023	—	—		—	—		—		3,685		—		3,685

As Restated
Balance at May 29, 2022	—	$	—	29,513	$	30	$	167,352	$	(78,973)	$	(586)	$	87,823

Issuance of stock under stock plans, net of shares withheld	—	—		80	—		—		—		—		—
Taxes paid by Company for employee stock plans	—	—		—	—		(67)		—		—		(67)
Stock-based compensation	—	—		—	—		785		—		—		785
Net loss	—	—		—	—		—		(10,966)		—		(10,966)
Other comprehensive income, net of tax	—	—		—	—		—		—		300		300
Balance at August 28, 2022	—	$	—	29,593	$	30	$	168,070	$	(89,939)	$	(286)	$	77,875

Issuance of stock under stock plans, net of shares withheld	—	—		76	—		—		—		—		—
Taxes paid by Company for employee stock plans	—	—		—	—		(142)		—		—		(142)
Stock-based compensation	—	—		—	—		1,108		—		—		1,108
Net loss	—	—		—	—		—		(12,806)		—		(12,806)
Other comprehensive income, net of tax	—	—		—	—		—		—		286		286
Issuance of shares to Wynnefield Capital, Inc., net of issuance costs	—	—		628	—		4,822		—		—		4,822
Balance at November 27, 2022	—	$	—	30,297	$	30	$	173,858	$	(102,745)	$	—	$	71,143

Issuance of stock under stock plans, net of shares withheld	—	—		22	—		—		—		—		—


Proceeds of Convertible Preferred Stock, net of issuance costs	39	38,082		—	—		—		—		—		—
Accretion of Convertible Preferred Stock	—	25		—	—		(25)		—		—		(25)
Convertible Preferred Stock PIK dividend	—	428		—	—		(428)		—		—		(428)
Taxes paid by Company for employee stock plans	—	—		—	—		(65)		—		—		(65)
Stock-based compensation	—	—		—	—		903		—		—		903
Net loss	—	—		—	—		—		(36,507)		—		(36,507)

Balance at February 26, 2023	39	$	38,535	30,319	$	30	$	174,243	$	(139,252)	$	—	$	35,021

The effects of the restatement on the consolidated statement of cash flows for the nine months ended February 26, 2023 are summarized in the following table:


	Nine Months Ended February 26, 2023
	As Reported		Restatement Adjustment		As Restated
Cash flows from operating activities:
Net (loss) income	$	(63,992)	$	3,713	$	(60,279)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Impairment of indefinite-lived intangible assets and goodwill	300		—		300
Depreciation, amortization of intangibles, debt costs and right-of-use assets	10,392		115		10,507

Gain on sale of BreatheWay	(2,108)		—		(2,108)
Stock-based compensation expense	2,796		—		2,796
Deferred taxes	57		—		57
Provision for expected credit losses	—		200		200




Loss (gain) on sale of Yucatan	21,039		(376)		20,663
Other, net	101		—		101
Changes in current assets and current liabilities:
Accounts receivable, net	8,994		(51)		8,943
Inventories	(13,451)		(1,396)		(14,847)
Prepaid expenses and other current assets	(1,169)		(140)		(1,309)
Accounts payable	11,405		(75)		11,330
Accrued compensation	(1,895)		—		(1,895)
Other accrued liabilities	8,570		—		8,570
Deferred revenue	1,792		—		1,792
Net cash (used in) provided by operating activities	(17,169)		1,990		(15,179)

Cash flows from investing activities:
Purchases of property and equipment	(12,319)		(1,990)		(14,309)

Proceeds from the sale of BreatheWay, net	3,135		—		3,135

Proceeds from the sale of Yucatan, net	12,531		—		12,531



Net cash provided by (used in) investing activities	3,347		(1,990)		1,357

Cash flows from financing activities:
Proceeds from sale of common stock, net of issuance costs	4,822		—		4,822
Proceeds from long-term debt	3,367		—		3,367
Payments on long-term debt	(3,199)		—		(3,199)
Proceeds from line of credit	18,400		—		18,400
Payments on line of credit	(42,400)		—		(42,400)
Taxes paid for employee stock plans	(274)		—		(274)
Payments for debt issuance costs	(3,669)		—		(3,669)
Proceeds from sale of preferred stock, net of issuance costs	38,082		—		38,082
Net cash provided by financing activities	15,129		—		15,129

Net increase in cash and cash equivalents	1,307		—		1,307
Cash and cash equivalents, beginning of period	1,643		—		1,643
Cash and cash equivalents, end of period	$	2,950	$	—	$	2,950

Supplemental disclosure of non-cash investing and financing activities:
Purchases of property and equipment on trade vendor credit	$	3,918	$	—	$	3,918
Convertible Preferred Stock PIK dividend	$	(428)	$	—	$	(428)

The effects of this error on our previously reported changes in the Company’s allowance for sales returns and credit losses for the nine months ended February 26, 2023 as presented in the Company’s Quarterly Report on Form 10-Q Note 1, are as follows:


	February 26, 2023
(in thousands)	Balance at beginning of period		Provision (benefit) for expected credit losses	Write offs, net of recoveries	Balance at end of period
Nine months ended February 26, 2023, As Reported	$	5	—	(1)	$	4
Restatement Adjustment	$	522	200	(200)	$	522
Nine months ended February 26, 2023, As Restated	$	527	200	(201)	$	526
Discontinued Operations	$	(5)	—	1	$	(4)
Nine months ended February 26, 2023, As Restated, after Discontinued Operations	$	522	200	(200)	$	522

The effects of this error on our previously reported inventories as of February 26, 2023 as presented in the Company’s Quarterly Report on Form 10-Q Note 1, are as follows:


	February 26, 2023
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Finished goods	$	14,636	$	189	$	14,825	$	(1,284)	$	13,541
Raw materials	22,554		(1,970)		20,584		(1,933)		18,651
Work in progress	11,506		(1,656)		9,850		—		9,850
Total inventories	$	48,696	$	(3,437)	$	45,259	$	(3,217)	$	42,042

The effects of this error on our previously reported basic and diluted net loss per share for the three months ended February 26, 2023 as presented in the Company’s Quarterly Report on Form 10-Q Note 1, are as follows:


	Three Months Ended February 26, 2023
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Numerator:
Net (loss) income applicable to Common Stockholders	$	(40,192)	$	3,685	$	(36,507)	$	—	$	(36,507)

Denominator:
Weighted average shares for basic net income per share	30,304		—		30,304		—		30,304



Weighted average shares for diluted net income per share	30,304		—		30,304		—		30,304

Diluted net (loss) income per share	$	(1.33)	$	0.13	$	(1.20)	$	—	$	(1.20)

The effects of this error on our previously reported basic and diluted net loss per share for the nine months ended February 26, 2023 as presented in the Company’s Quarterly Report on Form 10-Q Note 1, are as follows:


	Nine Months Ended February 26, 2023
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Numerator:
Net (loss) income applicable to Common Stockholders	$	(63,992)	$	3,713	$	(60,279)	$	—	$	(60,279)

Denominator:
Weighted average shares for basic net income per share	29,838		—		29,838		—		29,838



Weighted average shares for diluted net income per share	29,838		—		29,838		—		29,838

Diluted net (loss) income per share	$	(2.14)	$	0.12	$	(2.02)	$	—	$	(2.02)

The effects of this error on our previously reported disaggregated revenue for the three months ended February 26, 2023 as presented in the Company’s Quarterly Report on Form 10-Q Note 1, are as follows:


	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Contact development and manufacturing organization	$	17,809	$	206	$	18,015	$	—	$	18,015
Fermentation	8,521		—		8,521		—		8,521
Total	$	26,330	$	206	$	26,536	$	—	$	26,536

	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Olive oil and vinegars	$	1,270	$	—	$	1,270	$	(1,270)	$	—

Total	$	1,270	$	—	$	1,270	$	(1,270)	$	—

The effects of this error on our previously reported disaggregated revenue for the nine months ended February 26, 2023 as presented in the Company’s Quarterly Report on Form 10-Q Note 1, are as follows:


	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Contact development and manufacturing organization	$	52,088	$	400	$	52,488	$	—	$	52,488
Fermentation	19,635		—		19,635		—		19,635
Total	$	71,723	$	400	$	72,123	$	—	$	72,123

	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Olive oil and vinegars	$	6,025	$	—	$	6,025	$	(6,025)	$	—

Total	$	6,025	$	—	$	6,025	$	(6,025)	$	—

The effects of this error on our previously reported segment reporting as of and for the three months ended February 26, 2023 as presented in the Company’s Quarterly Report on Form 10-Q Note 7, are as follows.

The segment table below has been restated to reflect the correction of accounting errors within the consolidated financial statements as of and for the three months ended February 26, 2023. Refer to Note 14 for the related income statement line items reported in the segment table of the Company after giving effect to the discontinued operations previously reported under the Curation segment. The Company disclosed Other to reconcile the segment information to the consolidated financial statements.


	Three Months Ended February 26, 2023
(in thousands)	Lifecore		Curation Foods		Other		Total
Three Months Ended February 26, 2023, As Reported
Net sales	$	26,330	$	1,270	$	—	$	27,600
Gross profit	6,072		(94)		—		5,978
Net income (loss) from continuing operations	851		280		(16,592)		(15,461)
Loss from discontinued operations, net of tax	—		(22,802)		(1,929)		(24,731)
Depreciation and amortization	1,878		243		10		2,131
Interest income	16		—		6		22
Interest expense	—		—		5,818		5,818
Income tax (benefit) expense, continuing operations	268		(3,019)		2,821		70
Corporate overhead allocation	739		241		(980)		—

Restatement Adjustments
Net sales	206		—		—		206
Gross profit	2,469		—		—		2,469
Net income from continuing operations	2,557		(2,882)		3,709		3,384
Loss from discontinued operations, net of tax	—		301		—		301
Depreciation and amortization	31		—		—		31
Interest expense	—		—		(963)		(963)
Income tax (benefit) expense, continuing operations	(288)		3,034		(2,746)		—







Three Months Ended February 26, 2023, As Restated
Net sales	$	26,536	$	1,270	$	—	$	27,806
Gross profit	8,541		(94)		—		8,447
Net income (loss) from continuing operations	3,408		(2,602)		(12,883)		(12,077)
Loss from discontinued operations, net of tax	—		(22,501)		(1,929)		(24,430)
Depreciation and amortization	1,909		243		10		2,162
Interest income	16		—		6		22
Interest expense	—		—		4,855		4,855
Income tax (benefit) expense, continuing operations	(20)		15		75		70
Corporate overhead allocation	739		241		(980)		—

The effects of this error on our previously reported segment reporting for the nine months ended February 26, 2023 as presented in the Company’s Quarterly Report on Form 10-Q Note 7, are as follows.

The segment table below has been restated to reflect the correction of accounting errors within the consolidated financial statements for the nine months ended February 26, 2023. Refer to Note 14 for the related income statement line items reported in the segment table of the Company after giving effect to the discontinued operations previously reported under the Curation segment. The Company disclosed Other to reconcile the segment information to the consolidated financial statements.


	Nine Months Ended February 26, 2023
(in thousands)	Lifecore		Curation Foods		Other		Total
Nine Months Ended February 26, 2023, As Reported
Net sales	$	71,723	$	6,025	$	—	$	77,748
Gross profit	18,847		723		—		19,570
Net income (loss) from continuing operations	2,269		(1,974)		(35,008)		(34,713)
Loss from discontinued operations, net of tax	—		(27,350)		(1,929)		(29,279)
Depreciation and amortization	5,492		2,637		31		8,160
Interest income	47		—		6		53
Interest expense	—		1		13,714		13,715
Income tax expense (benefit), continuing operations	717		(4,135)		3,496		78
Corporate overhead allocation	2,799		858		(3,657)		—

Restatement Adjustments
Net sales	400		—		—		400
Gross profit	1,355		(50)		—		1,305
Net income (loss) from continuing operations	1,883		(1,587)		5,407		5,703
Loss from discontinued operations, net of tax	—		(1,990)		—		(1,990)
Depreciation and amortization	92		—		—		92
Interest expense	—		—		(1,990)		(1,990)
Income tax (benefit) expense, continuing operations	(728)		4,145		(3,417)		—







Nine Months Ended February 26, 2023, As Restated
Net sales	$	72,123	$	6,025	$	—	$	78,148
Gross profit	20,202		673		—		20,875
Net income (loss) from continuing operations	4,152		(3,561)		(29,601)		(29,010)
Loss from discontinued operations, net of tax	—		(29,340)		(1,929)		(31,269)
Depreciation and amortization	5,584		2,637		31		8,252
Interest income	47		—		6		53
Interest expense	—		1		11,724		11,725
Income tax (benefit) expense, continuing operations	(11)		10		79		78
Corporate overhead allocation	2,799		858		(3,657)		—

The effects of this error on our previously reported discontinued operations as of February 26, 2023 as presented in the Company’s Quarterly Report on Form 10-Q Note 9, are as follows:


	Yucatan Foods - As of May 29, 2022
(in thousands)	As Reported		Restatement		As Restated
ASSETS
Cash and cash equivalents	$	652	$	—	$	652
Accounts receivable, less allowance for credit losses	8,078		—		8,078
Inventories	22,545		(120)		22,425
Prepaid expenses and other current assets	1,869		(498)		1,371
Total current assets, discontinued operations	33,144		(618)		32,526
Property and equipment, net	3,500		—		3,500
Operating lease right-of-use assets	2,061		—		2,061
Trademarks/tradenames, net	4,000		—		4,000
Customer relationships, net	1,400		—		1,400
Other assets	102		—		102
Total other assets, discontinued operations	11,063		—		11,063
Total assets, discontinued operations	$	44,207	$	(618)	$	43,589

LIABILITIES
Accounts payable	$	2,814	$	—	$	2,814
Accrued compensation	297		—		297
Other accrued liabilities	800		(36)		764
Current portion of lease liabilities	434		—		434
Total current liabilities, discontinued operations	4,345		(36)		4,309
Long-term lease liabilities	1,627		—		1,627
Non-current liabilities, discontinued operations	1,627		—		1,627
Total liabilities, discontinued operations	$	5,972	$	(36)	$	5,936

The effects of this error on our previously reported restructuring cost for the three months ended February 26, 2023 as presented in the Company’s Quarterly Report on Form 10-Q Note 8, are as follows:


	Three Months Ended February 26, 2023
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations

Employee severance and benefit costs	$	2,362	$	(175)	$	2,187	$	—	$	2,187
Lease costs	43		—		43		—		43
Other restructuring costs	336		—		336		—		336
Total restructuring costs	$	2,741	$	(175)	$	2,566	$	—	$	2,566


	Three Months Ended February 26, 2023
	Curation		Other		Total
Total restructuring costs, As reported	$	901	$	1,840	$	2,741
Restatement adjustments	(175)		—		(175)
Total restructuring costs, As restated	$	726	$	1,840	$	2,566

The effects of this error on our previously reported restructuring cost for the nine months ended February 26, 2023 as presented in the Company’s Quarterly Report on Form 10-Q Note 8, are as follows:


	Nine Months Ended February 26, 2023
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations

Employee severance and benefit costs	$	2,606	$	(324)	$	2,282	$	—	$	2,282
Lease costs	88		—		88		—		88
Other restructuring costs	1,917		(111)		1,806		—		1,806
Total restructuring costs	$	4,611	$	(435)	$	4,176	$	—	$	4,176


	Nine Months Ended February 26, 2023
	Curation		Other		Total
Total restructuring costs, As reported	$	1,509	$	3,102	$	4,611
Restatement adjustments	(435)		—		(435)
Total restructuring costs, As restated	$	1,074	$	3,102	$	4,176

As of and for the three and six months ended November 27, 2022

The effects of the restatement on the consolidated balance sheet as of November 27, 2022 are summarized in the following table:


	November 27, 2022
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
ASSETS
Current Assets:
Cash and cash equivalents	$	6,830	$	—	$	6,830	$	(892)	$	5,938
Accounts receivable, net	35,689		(522)		35,167		(7,709)		27,458
Inventories	77,524		(5,936)		71,588		(33,168)		38,420
Prepaid expenses and other current assets	7,049		(1,553)		5,496		(3,823)		1,673
Current Assets, discontinued operations	—		—		—		45,592		45,592
Total Current Assets	127,092		(8,011)		119,081		—		119,081

Property and equipment, net	118,852		5,001		123,853		(3,666)		120,187
Operating lease right-of-use assets	7,951		(90)		7,861		(2,610)		5,251
Goodwill	13,881		—		13,881		—		13,881
Trademarks/tradenames, net	7,400		—		7,400		(3,200)		4,200
Customer relationships, net	1,292		—		1,292		(1,292)		—
Other assets	2,605		—		2,605		(113)		2,492
Non-current Assets, discontinued operations	—		—		—		10,881		10,881
Total Assets	$	279,073	$	(3,100)	$	275,973	$	—	$	275,973

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities:
Accounts payable	$	27,971	$	(25)	27,946		$	(14,645)	13,301
Accrued compensation	4,602		—		4,602		(498)		4,104
Other accrued liabilities	10,426		(51)		10,375		(1,010)		9,365
Current portion of lease liabilities	5,013		—		5,013		(679)		4,334
Deferred revenue	731		—		731		—		731
Line of credit	48,000		—		48,000		—		48,000
Current portion of long-term debt	98,953		—		98,953		—		98,953
Current liabilities, discontinued operations	—		—		—		16,832		16,832
Total Current Liabilities	195,696		(76)		195,620		—		195,620


Long-term lease liabilities	8,999		—		8,999		(1,979)		7,020
Deferred taxes, net	10		—		10		—		10
Other non-current liabilities	201		—		201		—		201
Non-current liabilities, discontinued operations	—		—		—		1,979		1,979
Total Liabilities	204,906		(76)		204,830		—		204,830

Stockholders’ Equity:
Common stock	$	30	$	—	30		$	—	30
Additional paid-in capital	$	174,036	$	(178)	173,858		—		173,858
Accumulated deficit	(99,899)		(2,846)		(102,745)		—		(102,745)

Total Stockholders’ Equity	74,167		(3,024)		71,143		—		71,143
Total Liabilities and Stockholders’ Equity	$	279,073	$	(3,100)	$	275,973	$	—	$	275,973

The effects of the restatement on the consolidated statement of operations and comprehensive income (loss) for the three months November 27, 2022 are summarized in the following table:


	Three Months Ended November 27, 2022
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Product sales	$	38,802	$	173	$	38,975	$	(17,111)	$	21,864
Cost of product sales	31,694		1,280		32,974		(16,789)		16,185
Gross profit	7,108		(1,107)		6,001		(322)		5,679
Operating costs and expenses:
Research and development	2,118		149		2,267		(90)		2,177
Selling, general and administrative	10,773		(23)		10,750		(2,459)		8,291
Impairment of indefinite-lived intangible assets	1,300		—		1,300		(1,300)		—
Restructuring costs	823		(260)		563		—		563
Total operating costs and expenses	15,014		(134)		14,880		(3,849)		11,031
Operating (loss) income	(7,906)		(973)		(8,879)		3,527		(5,352)


Interest income	16		—		16		—		16
Interest expense	(4,219)		595		(3,624)		—		(3,624)
Transition services income	—		24		24		—		24
Other (expense) income	(336)		75		(261)		—		(261)
Net (loss) income from continuing operations before taxes	(12,445)		(279)		(12,724)		3,527		(9,197)
Income tax expense	(4)		—		(4)		—		(4)
Net (loss) income from continuing operations	(12,449)		(279)		(12,728)		3,527		(9,201)

Discontinued operations:
Loss from discontinued operations	—		(78)		(78)		(3,527)		(3,605)

Loss from discontinued operations, net of tax	—		(78)		(78)		(3,527)		(3,605)
Consolidated net loss	$	(12,449)	$	(357)	$	(12,806)	$	—	$	(12,806)



Basic net (loss) income per share:
(Loss) income from continuing operations	$	(0.42)	$	(0.01)	$	(0.43)	$	0.12	$	(0.31)
Loss from discontinued operations	$	—	$	—	$	—	$	(0.12)	$	(0.12)
Total basic net loss per share	$	(0.42)	$	(0.01)	$	(0.43)	$	—	$	(0.43)

Diluted net (loss) income per share:
(Loss) income from continuing operations	$	(0.42)	$	(0.01)	$	(0.43)	$	0.12	$	(0.31)
Loss from discontinued operations	$	—	$	—	$	—	$	(0.12)	$	(0.12)
Total diluted net loss per share	$	(0.42)	$	(0.01)	$	(0.43)	$	—	$	(0.43)

Shares used in per share computation
Basic	29,634		—		29,634		—		29,634
Diluted	29,634		—		29,634		—		29,634

	Three Months Ended November 27, 2022


(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Net loss	$	(12,449)	$	(357)	$	(12,806)	$	—	$	(12,806)
Other comprehensive (loss) income, net of tax:
Net unrealized gains on interest rate swaps, net of tax	286		—		286		—		286
Other comprehensive income, net of tax	286		—		286		—		286
Total comprehensive loss	$	(12,163)	$	(357)	$	(12,520)	$	—	$	(12,520)

The effects of the restatement on the consolidated statement of operations and comprehensive income (loss) for the six months November 27, 2022 are summarized in the following table:


	Six Months Ended November 27, 2022
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Product sales	$	82,157	$	194	$	82,351	$	(36,764)	$	45,587
Cost of product sales	68,797		1,358		70,155		(36,226)		33,929
Gross profit	13,360		(1,164)		12,196		(538)		11,658
Operating costs and expenses:
Research and development	4,166		391		4,557		(169)		4,388
Selling, general and administrative	21,435		1,788		23,223		(6,828)		16,395
Impairment of indefinite-lived intangible assets	1,300		—		1,300		(1,300)		—
Gain on sale of BreatheWay	—		(2,108)		(2,108)		—		(2,108)
Restructuring costs	1,870		(260)		1,610		—		1,610
Total operating costs and expenses	28,771		(189)		28,582		(8,297)		20,285
Operating (loss) income	(15,411)		(975)		(16,386)		7,759		(8,627)


Interest income	31		—		31		—		31
Interest expense	(7,897)		1,027		(6,870)		—		(6,870)
Transition services income	—		68		68		—		68
Other (expense) income	(515)		13		(502)		—		(502)
Net (loss) income from continuing operations before taxes	(23,792)		133		(23,659)		7,759		(15,900)
Income tax expense	(8)		—		(8)		—		(8)
Net (loss) income from continuing operations	(23,800)		133		(23,667)		7,759		(15,908)

Discontinued operations:
Loss from discontinued operations	—		(105)		(105)		(7,759)		(7,864)

Loss from discontinued operations, net of tax	—		(105)		(105)		(7,759)		(7,864)
Consolidated net (loss) income	$	(23,800)	$	28	$	(23,772)	$	—	$	(23,772)



Basic net (loss) income per share:
(Loss) income from continuing operations	$	(0.80)	$	—	$	(0.80)	$	0.26	$	(0.54)
Loss from discontinued operations	$	—	$	—	$	—	$	(0.26)	$	(0.26)


Total basic net loss per share	$	(0.80)	$	—	$	(0.80)	$	—	$	(0.80)

Diluted net (loss) income per share:
(Loss) income from continuing operations	$	(0.80)	$	—	$	(0.80)	$	0.26	$	(0.54)
Loss from discontinued operations	$	—	$	—	$	—	$	(0.26)	$	(0.26)
Total diluted net loss per share	$	(0.80)	$	—	$	(0.80)	$	—	$	(0.80)

Shares used in per share computation
Basic	29,605		—		29,605		—		29,605
Diluted	29,605		—		29,605		—		29,605

	Six Months Ended November 27, 2022
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations

Net (loss) income	$	(23,800)	$	28	$	(23,772)	$	—	$	(23,772)
Other comprehensive (loss) income, net of tax:
Net unrealized gains on interest rate swaps, net of tax	586		—		586		—		586
Other comprehensive income, net of tax	586		—		586		—		586
Total comprehensive (loss) income	$	(23,214)	$	28	$	(23,186)	$	—	$	(23,186)

The effects of the restatement on the consolidated statement of convertible preferred stock and stockholders’ equity (deficit) for the three and six months ended November 27, 2022 are summarized in the following table:


	Convertible Preferred Stock			Common Stock			Additional Paid-in Capital		Retained Earnings (Accumulated Deficit)		Accumulated Other Comprehensive Loss		Total Stockholders’ Equity
	Shares	Amount		Shares	Amount
As Reported
Balance at May 29, 2022	—	$	—	29,513	$	30	$	167,352	$	(76,099)	$	(586)	$	90,697
Issuance of stock under stock plans, net of shares withheld	—	—		80	—		—		—		—		—
Taxes paid by Company for employee stock plans	—	—		—	—		(67)		—		—		(67)
Stock-based compensation	—	—		—	—		785		—		—		785
Net loss	—	—		—	—		—		(11,351)		—		(11,351)
Other comprehensive income, net of tax	—	—		—	—		—		—		300		300
Balance at August 28, 2022	—	$	—	29,593	$	30	$	168,070	$	(87,450)	$	(286)	$	80,364
Issuance of stock under stock plans, net of shares withheld	—	—		76	—		—		—		—		—
Taxes paid by Company for employee stock plans	—	—		—	—		(142)		—		—		(142)
Stock-based compensation	—	—		—	—		1,108		—		—		1,108
Net loss	—	—		—	—		—		(12,449)		—		(12,449)
Other comprehensive income, net of tax	—	—		—	—		—		—		286		286


Issuance of shares to Wynnefield Capital, Inc., net of issuance costs	—	—		628	—		5,000		—		—		5,000
Balance at November 27, 2022	—	$	—	30,297	$	30	$	174,036	$	(99,899)	$	—	$	74,167

Restatements Adjustments
Opening retained earnings (at May 29, 2022)	—	—		—	—		—		(2,874)		—		(2,874)
Net income at August 28, 2022	—	—		—	—		—		385		—		385
Opening retained earnings (at August 28, 2022)	—	—		—	—		—		(2,489)		—		(2,489)
Cost of issuance of shares to Wynnefield Capital, Inc.	—	—		—	—		(178)		—		—		(178)
Net loss at November 27, 2022	—	—		—	—		—		(357)		—		(357)

As Restated
Balance at May 29, 2022	—	$	—	29,513	$	30	$	167,352	$	(78,973)	$	(586)	$	87,823

Issuance of stock under stock plans, net of shares withheld	—	—		80	—		—		—		—		—
Taxes paid by Company for employee stock plans	—	—		—	—		(67)		—		—		(67)
Stock-based compensation	—	—		—	—		785		—		—		785
Net loss	—	—		—	—		—		(10,966)		—		(10,966)
Other comprehensive income, net of tax	—	—		—	—		—		—		300		300
Balance at August 28, 2022	—	$	—	29,593	$	30	$	168,070	$	(89,939)	$	(286)	$	77,875

Issuance of stock under stock plans, net of shares withheld	—	—		76	—		—		—		—		—
Taxes paid by Company for employee stock plans	—	—		—	—		(142)		—		—		(142)
Stock-based compensation	—	—		—	—		1,108		—		—		1,108
Net loss	—	—		—	—		—		(12,806)		—		(12,806)
Other comprehensive income, net of tax	—	—		—	—		—		—		286		286
Issuance of shares to Wynnefield Capital, Inc., net of issuance costs	—	—		628	—		4,822		—		—		4,822
Balance at November 27, 2022	—	$	—	30,297	$	30	$	173,858	$	(102,745)	$	—	$	71,143

The effects of the restatement on the consolidated statement of cash flows for the six months ended November 27, 2022 are summarized in the following table:


	Six Months Ended November 27, 2022
	As Reported		Restatement Adjustment		As Restated
Cash flows from operating activities:
Net (loss) income	$	(23,800)	$	28	$	(23,772)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Impairment of indefinite-lived intangible assets and goodwill	1,300		—		1,300
Depreciation, amortization of intangibles, debt costs and right-of-use assets	7,237		57		7,294
Gain on sale of BreatheWay	(2,108)		—		(2,108)
Stock-based compensation expense	1,893		—		1,893
Deferred taxes	(13)		—		(13)


Net loss on disposal of property and equipment held and used	22		—		22
Other, net	86		—		86
Changes in current assets and current liabilities:
Accounts receivable, net	12,483		—		12,483
Inventories	(10,679)		1,103		(9,576)
Prepaid expenses and other current assets	(585)		(140)		(725)
Accounts payable	11,730		(21)		11,709
Accrued compensation	(4,636)		—		(4,636)
Other accrued liabilities	2,777		—		2,777
Deferred revenue	(188)		—		(188)
Net cash (used in) provided by operating activities	(4,481)		1,027		(3,454)

Cash flows from investing activities:
Proceeds from sale of BreatheWay, net	3,135		—		3,135
Purchases of property and equipment	(6,182)		(1,027)		(7,209)


Net cash used in investing activities	(3,047)		(1,027)		(4,074)

Cash flows from financing activities:
Proceeds from sale of common stock	5,000		—		5,000
Payments on long-term debt	(76)		—		(76)
Proceeds from line of credit	8,800		—		8,800
Payments on line of credit	(800)		—		(800)
Taxes paid by Company for employee stock plans	(209)		—		(209)

Net cash provided by financing activities	12,715		—		12,715

Net increase in cash and cash equivalents	5,187		—		5,187
Cash and cash equivalents, beginning of period	1,643		—		1,643
Cash and cash equivalents, end of period	$	6,830	$	—	$	6,830

Supplemental disclosure of non-cash investing and financing activities:
Purchases of property and equipment on trade vendor credit	$	2,700	$	—	$	2,700

The effects of this error on our previously reported changes in the Company’s allowance for sales returns and credit losses for the quarter ended November 27, 2022 as presented in the Company’s Quarterly Report on Form 10-Q Note 1, are as follows:


	November 27, 2022
	Balance at beginning of period		Provision (benefit) for expected credit losses	Write offs, net of recoveries	Balance at end of period
Six months ended November 27, 2022, As Reported	$	65	—	—	$	65
Restatement Adjustment	$	522	—	—	$	522
Six months ended November 27, 2022, As Restated	$	587	—	—	$	587
Discontinued Operations	$	(65)	—	—	$	(65)
Six months ended November 27, 2022, As Restated, after Discontinued Operations	$	522	—	—	$	522

The effects of this error on our previously reported inventories as of November 27, 2022 as presented in the Company’s Quarterly Report on Form 10-Q Note 1, are as follows:


	November 27, 2022
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Finished goods	$	38,882	$	185	$	39,067	$	(23,408)	$	15,659
Raw materials	26,959		(2,482)		24,477		(9,000)		15,477
Work in progress	11,683		(3,639)		8,044		(760)		7,284
Total inventories	$	77,524	$	(5,936)	$	71,588	$	(33,168)	$	38,420

The effects of this error on our previously reported basic and diluted net loss per share for the three months ended November 27, 2022 as presented in the Company’s Quarterly Report on Form 10-Q Note 1, are as follows:


	Three Months Ended November 27, 2022
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Numerator:
Net loss applicable to Common Stockholders	$	(12,449)	$	(357)	$	(12,806)	$	—	$	(12,806)

Denominator:
Weighted average shares for basic net income per share	29,634		—		29,634		—		29,634



Weighted average shares for diluted net income per share	29,634		—		29,634		—		29,634

Diluted net loss per share	$	(0.42)	$	(0.01)	$	(0.43)	$	—	$	(0.43)

The effects of this error on our previously reported basic and diluted net loss per share for the six months ended November 27, 2022 as presented in the Company’s Quarterly Report on Form 10-Q Note 1, are as follows:


	Six Months Ended November 27, 2022
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Numerator:
Net (loss) income applicable to Common Stockholders	$	(23,800)	$	28	$	(23,772)	$	—	$	(23,772)

Denominator:
Weighted average shares for basic net income per share	29,605		—		29,605		—		29,605



Weighted average shares for diluted net income per share	29,605		—		29,605		—		29,605

Diluted loss income per share	$	(0.80)	$	—	$	(0.80)	$	—	$	(0.80)

The effects of this error on our previously reported disaggregated revenue for the three months ended November 27, 2022 as presented in the Company’s Quarterly Report on Form 10-Q Note 1, are as follows:


	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Contact development and manufacturing organization	$	16,032	$	173	$	16,205	$	—	$	16,205
Fermentation	5,659		—		5,659		—		5,659
Total	$	21,691	$	173	$	21,864	$	—	$	21,864

	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Avocado Products	$	14,915	$	—	$	14,915	$	(14,915)	$	—
Olive oil and vinegars	2,196		—		2,196		(2,196)		—
Total	$	17,111	$	—	$	17,111	$	(17,111)	$	—

The effects of this error on our previously reported disaggregated revenue for the six months ended November 27, 2022 as presented in the Company’s Quarterly Report on Form 10-Q Note 1, are as follows:


	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Contact development and manufacturing organization	$	34,279	$	194	$	34,473	$	—	$	34,473
Fermentation	11,114		—		11,114		—		11,114
Total	$	45,393	$	194	$	45,587	$	—	$	45,587

	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Avocado Products	$	32,009	$	—	$	32,009	$	(32,009)	$	—
Olive oil and vinegars	4,755		—		4,755		(4,755)		—
Total	$	36,764	$	—	$	36,764	$	(36,764)	$	—

The effects of this error on our previously reported segment reporting for the three months ended November 27, 2022 as presented in the Company’s Quarterly Report on Form 10-Q Note 7, are as follows.

The segment table below has been restated to reflect the correction of accounting errors within the consolidated financial statements for the three months ended November 27, 2022. Refer to Note 14 for the related income statement line items reported in the segment table of the Company after giving effect to the discontinued operations previously reported under the Curation segment. The Company disclosed Other to reconcile the segment information to the consolidated financial statements.


	Three Months Ended November 27, 2022
(in thousands)	Lifecore		Curation Foods		Other		Total
Three Months Ended November 27, 2022, As Reported
Net sales	$	21,691	$	17,111	$	—	$	38,802
Gross profit	6,675		433		—		7,108
Net income (loss) from continuing operations	916		(3,295)		(10,070)		(12,449)

Depreciation and amortization	1,843		588		11		2,442
Interest income	16		—		—		16
Interest expense	—		—		4,219		4,219
Income tax expense (benefit), continuing operations	290		(836)		550		4
Corporate overhead allocation	1,022		283		(1,305)		—

Restatement Adjustments
Net sales	173		—		—		173
Gross profit	(987)		(120)		—		(1,107)
Net (loss) income from continuing operations	(697)		(724)		1,142		(279)
Loss from discontinued operations, net of tax	—		(78)		—		(78)
Depreciation and amortization	31		—		—		31
Interest expense	—		—		(595)		(595)
Income tax (benefit) expense, continuing operations	(290)		837		(547)		—







Three Months Ended November 27, 2022, As Restated
Net sales	$	21,864	$	17,111	$	—	$	38,975
Gross profit	5,688		313		—		6,001
Net loss from continuing operations	219		(4,019)		(8,928)		(12,728)
Loss from discontinued operations, net of tax	—		(78)		—		(78)
Depreciation and amortization	1,874		588		11		2,473
Interest income	16		—		—		16
Interest expense	—		—		3,624		3,624
Income tax expense, continuing operations	—		1		3		4
Corporate overhead allocation	1,022		283		(1,305)		—

The effects of this error on our previously reported segment reporting for the six months ended November 27, 2022 as presented in the Company’s Quarterly Report on Form 10-Q Note 7, are as follows.

The segment table below has been restated to reflect the correction of accounting errors within the consolidated financial statements for the six months ended November 27, 2022. Refer to Note 14 for the related income statement line items

reported in the segment table of the Company after giving effect to the discontinued operations previously reported under the Curation segment. The Company disclosed Other to reconcile the segment information to the consolidated financial statements.


	Six Months Ended November 27, 2022
(in thousands)	Lifecore		Curation Foods		Other		Total
Six Months Ended November 27, 2022, As Reported
Net sales	$	45,393	$	36,764	$	—	$	82,157
Gross profit	12,776		584		—		13,360
Net income (loss) from continuing operations	1,419		(6,017)		(19,202)		(23,800)

Depreciation and amortization	3,614		2,756		21		6,391
Interest income	31		—		—		31
Interest expense	—		1		7,896		7,897
Income tax (benefit) expense, continuing operations	448		(1,901)		1,461		8
Corporate overhead allocation	2,060		617		(2,677)		—

Restatement Adjustments
Net sales	194		—		—		194
Gross profit	(1,114)		(50)		—		(1,164)
Net (loss) income from continuing operations	(666)		(1,684)		2,483		133
Loss from discontinued operations, net of tax	—		(105)		—		(105)
Depreciation and amortization	61		—		—		61
Interest expense	—		—		(1,027)		(1,027)
Income tax (benefit) expense, continuing operations	(448)		1,904		(1,456)		—







Six Months Ended November 27, 2022, As Restated
Net sales	$	45,587	$	36,764	$	—	$	82,351
Gross profit	11,662		534		—		12,196
Net income (loss) from continuing operations	753		(7,701)		(16,719)		(23,667)
Loss from discontinued operations, net of tax	—		(105)		—		(105)
Depreciation and amortization	3,675		2,756		21		6,452
Interest income	31		—		—		31
Interest expense	—		1		6,869		6,870
Income tax (benefit) expense, continuing operations	—		3		5		8
Corporate overhead allocation	2,060		617		(2,677)		—

The effects of this error on our previously reported restructuring cost for the three months ended November 27, 2022 as presented in the Company’s Quarterly Report on Form 10-Q Note 8, are as follows:


	Three Months Ended November 27, 2022
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations

Employee severance and benefit costs	$	36	$	(149)	$	(113)	$	—	$	(113)
Lease costs	25		—		25		—		25
Other restructuring costs	762		(111)		651		—		651
Total restructuring costs	$	823	$	(260)	$	563	$	—	$	563


	Three Months Ended November 27, 2022
	Curation		Other		Total
Total restructuring costs, As reported	$	186	$	637	$	823
Restatement adjustments	(260)		—		(260)
Total restructuring costs, As restated	$	(74)	$	637	$	563

The effects of this error on our previously reported restructuring cost for the six months ended November 27, 2022 as presented in the Company’s Quarterly Report on Form 10-Q Note 8, are as follows:


	Six Months Ended November 27, 2022
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations

Employee severance and benefit costs	$	244	$	(149)	$	95	$	—	$	95
Lease costs	45		—		45		—		45
Other restructuring costs	1,581		(111)		1,470		—		1,470
Total restructuring costs	$	1,870	$	(260)	$	1,610	$	—	$	1,610


	Six Months Ended November 27, 2022
	Curation		Other		Total
Total restructuring costs, As reported	$	608	$	1,262	$	1,870
Restatement adjustments	(260)		—		(260)
Total restructuring costs, As restated	$	348	$	1,262	$	1,610

As of and for the three months ended August 28, 2022

The effects of the restatement on the consolidated balance sheet as of August 28, 2022 are summarized in the following table:


	August 28, 2022
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
ASSETS
Current Assets:
Cash and cash equivalents	$	4,222	$	—	$	4,222	$	(1,682)	$	2,540
Accounts receivable, net	40,934		(522)		40,412		(8,483)		31,929
Inventories	64,285		(4,860)		59,425		(23,271)		36,154
Prepaid expenses and other current assets	7,157		(1,711)		5,446		(3,460)		1,986
Current Assets, discontinued operations	—		—		—		36,896		36,896
Total Current Assets	116,598		(7,093)		109,505		—		109,505

Property and equipment, net	117,551		4,437		121,988		(3,798)		118,190
Operating lease right-of-use assets	8,229		(62)		8,167		(2,771)		5,396
Goodwill	13,881		—		13,881		—		13,881
Trademarks/tradenames, net	8,700		—		8,700		(4,500)		4,200
Customer relationships, net	1,346		—		1,346		(1,346)		—
Other assets	2,793		—		2,793		(113)		2,680
Non-current Assets, discontinued operations	—		—		—		12,528		12,528
Total Assets	$	269,098	$	(2,718)	$	266,380	$	—	$	266,380

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities:
Accounts payable	$	16,366	$	—	$	16,366	$	(6,743)	$	9,623
Accrued compensation	6,373		—		6,373		(452)		5,921
Other accrued liabilities	7,832		(229)		7,603		(981)		6,622
Current portion of lease liabilities	5,021		—		5,021		(669)		4,352
Deferred revenue	803		—		803		—		803
Line of credit	44,000		—		44,000		—		44,000
Current portion of long-term debt	98,569		—		98,569		—		98,569
Current liabilities, discontinued operations	—		—		—		8,845		8,845
Total Current Liabilities	178,964		(229)		178,735		—		178,735


Long-term lease liabilities	9,447		—		9,447		(2,153)		7,294
Deferred taxes, net	124		—		124		—		124
Other non-current liabilities	199		—		199		—		199
Non-current liabilities, discontinued operations	—		—		—		2,153		2,153
Total Liabilities	188,734		(229)		188,505		—		188,505

Stockholders’ Equity:
Common stock	30		—		30		—		30
Additional paid-in capital	168,070		—		168,070		—		168,070
Accumulated deficit	(87,450)		(2,489)		(89,939)		—		(89,939)
Accumulated other comprehensive loss	(286)		—		(286)		—		(286)
Total Stockholders’ Equity	80,364		(2,489)		77,875		—		77,875
Total Liabilities and Stockholders’ Equity	$	269,098	$	(2,718)	$	266,380	$	—	$	266,380

The effects of the restatement on the consolidated statement of operations and comprehensive income (loss) for the three months August 28, 2022 are summarized in the following table:


	Three Months Ended August 28, 2022
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Product sales	$	43,355	$	21	$	43,376	$	(19,652)	$	23,724
Cost of product sales	37,103		78		37,181		(19,436)		17,745
Gross profit	6,252		(57)		6,195		(216)		5,979
Operating costs and expenses:
Research and development	2,048		242		2,290		(79)		2,211
Selling, general and administrative	10,661		1,811		12,472		(4,369)		8,103
Gain on sale of BreatheWay	—		(2,108)		(2,108)		—		(2,108)
Restructuring costs	1,047		—		1,047		—		1,047
Total operating costs and expenses	13,756		(55)		13,701		(4,448)		9,253
Operating (loss) income	(7,504)		(2)		(7,506)		4,232		(3,274)


Interest income	15		—		15		—		15
Interest expense	(3,678)		432		(3,246)		—		(3,246)
Transition services income	—		44		44		—		44
Other expense	(180)		(62)		(242)		—		(242)
Net (loss) income from continuing operations before taxes	(11,347)		412		(10,935)		4,232		(6,703)
Income tax expense	(4)		—		(4)		—		(4)
Net (loss) income from continuing operations	(11,351)		412		(10,939)		4,232		(6,707)

Discontinued operations:
Loss from discontinued operations	—		(27)		(27)		(4,232)		(4,259)

Loss from discontinued operations, net of tax	—		(27)		(27)		(4,232)		(4,259)
Consolidated net (loss) income	$	(11,351)	$	385	$	(10,966)	$	—	$	(10,966)



Basic net (loss) income per share:
(Loss) income from continuing operations	$	(0.38)	$	0.01	$	(0.37)	$	0.14	$	(0.23)
Loss from discontinued operations	$	—	$	—	$	—	$	(0.14)	$	(0.14)
Total basic net (loss) income per share	$	(0.38)	$	0.01	$	(0.37)	$	—	$	(0.37)

Diluted net (loss) income per share:
(Loss) income from continuing operations	$	(0.38)	$	0.01	$	(0.37)	$	0.14	$	(0.23)
Loss from discontinued operations	$	—	$	—	$	—	$	(0.14)	$	(0.14)
Total diluted net (loss) income per share	$	(0.38)	$	0.01	$	(0.37)	$	—	$	(0.37)

Shares used in per share computation
Basic	29,577		—		29,577		—		29,577
Diluted	29,577		—		29,577		—		29,577


	Three Months Ended August 28, 2022
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Net (loss) income	$	(11,351)	$	385	$	(10,966)	$	—	$	(10,966)
Other comprehensive (loss) income, net of tax:
Net unrealized gains on interest rate swaps, net of tax	300		—		300		—		300
Other comprehensive income, net of tax	300		—		300		—		300
Total comprehensive (loss) income	$	(11,051)	$	385	$	(10,666)	$	—	$	(10,666)

The effects of the restatement on the consolidated statement of convertible preferred stock and stockholders’ equity (deficit) for the three months ended August 28, 2022 are summarized in the following table:


	Convertible Preferred Stock			Common Stock			Additional Paid-in Capital		Retained Earnings (Accumulated Deficit)		Accumulated Other Comprehensive Loss		Total Stockholders’ Equity
	Shares	Amount		Shares	Amount
As Reported
Balance at May 29, 2022	—	$	—	29,513	$	30	$	167,352	$	(76,099)	$	(586)	$	90,697
Issuance of stock under stock plans, net of shares withheld	—	—		80	—		—		—		—		—
Taxes paid by Company for employee stock plans	—	—		—	—		(67)		—		—		(67)
Stock-based compensation	—	—		—	—		785		—		—		785
Net loss	—	—		—	—		—		(11,351)		—		(11,351)
Other comprehensive income, net of tax	—	—		—	—		—		—		300		300
Balance at August 28, 2022	—	$	—	29,593	$	30	$	168,070	$	(87,450)	$	(286)	$	80,364

Restatements Adjustments
Opening retained earnings (at May 29, 2022)	—	—		—	—		—		(2,874)		—		(2,874)
Net income at August 28, 2022	—	—		—	—		—		385		—		385


As Restated
Balance at May 29, 2022	—	$	—	29,513	$	30	$	167,352	$	(78,973)	$	(586)	$	87,823

Issuance of stock under stock plans, net of shares withheld	—	—		80	—		—		—		—		—
Taxes paid by Company for employee stock plans	—	—		—	—		(67)		—		—		(67)
Stock-based compensation	—	—		—	—		785		—		—		785
Net loss	—	—		—	—		—		(10,966)		—		(10,966)
Other comprehensive income, net of tax	—	—		—	—		—		—		300		300
Balance at August 28, 2022	—	$	—	29,593	$	30	$	168,070	$	(89,939)	$	(286)	$	77,875

The effects of the restatement on the consolidated statement of cash flows for the three months ended August 28, 2022 are summarized in the following table:


	Three Months Ended August 28, 2022
	As Reported		Restatement Adjustment		As Restated
Cash flows from operating activities:
Net (loss) income	$	(11,351)	$	385	$	(10,966)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Depreciation, amortization of intangibles, debt costs and right-of-use assets	4,356		(2)		4,354
Gain on sale of BreatheWay	(2,108)		—		(2,108)
Stock-based compensation expense	785		—		785
Deferred taxes	(17)		—		(17)



Other, net	(18)		—		(18)
Changes in current assets and current liabilities:
Accounts receivable, net	7,238		—		7,238
Inventory	2,560		27		2,587
Prepaid expenses and other current assets	(761)		22		(739)
Accounts payable	581		—		581
Accrued compensation	(2,865)		—		(2,865)
Other accrued liabilities	183		—		183
Deferred revenue	(116)		—		(116)
Net cash (used in) provided by operating activities	(1,533)		432		(1,101)

Cash flows from investing activities:
Proceeds from sale of BreatheWay, net	3,135		—		3,135
Purchases of property and equipment	(2,929)		(432)		(3,361)


Net cash provided by (used in) investing activities	206		(432)		(226)

Cash flows from financing activities:
Payments on long-term debt	(27)		—		(27)
Proceeds from line of credit	4,000		—		4,000

Taxes paid by Company for employee stock plans	(67)		—		(67)

Net cash provided by financing activities	3,906		—		3,906

Net increase in cash and cash equivalents	2,579		—		2,579
Cash and cash equivalents, beginning of period	1,643		—		1,643
Cash and cash equivalents, end of period	$	4,222	$	—	$	4,222

Supplemental disclosure of non-cash investing and financing activities:
Purchases of property and equipment on trade vendor credit	$	2,243	$	—	$	2,243

The effects of this error on our previously reported changes in the Company’s allowance for sales returns and credit losses for the quarter ended August 28, 2022 as presented in the Company’s Quarterly Report on Form 10-Q Note 1, are as follows:


	August 28, 2022
	Balance at beginning of period		Provision (benefit) for expected credit losses	Write offs, net of recoveries	Balance at end of period
Three months ended August 28, 2022, As Reported	$	65	—	—	$	65
Restatement Adjustment	$	522	—	—	$	522
Three months ended August 28, 2022, As Restated	$	587	—	—	$	587
Discontinued Operations	$	(65)	—	—	$	(65)
Three months ended August 28, 2022, As Restated, after Discontinued Operations	$	522	—	—	$	522

The effects of this error on our previously reported inventories as of August 28, 2022 as presented in the Company’s Quarterly Report on Form 10-Q Note 1, are as follows:


	August 28, 2022
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Finished goods	$	25,266	$	(164)	$	25,102	$	(14,321)	$	10,781
Raw materials	27,402		(2,379)		25,023		(8,762)		16,261
Work in progress	11,617		(2,317)		9,300		(188)		9,112
Total inventories	$	64,285	$	(4,860)	$	59,425	$	(23,271)	$	36,154

The effects of this error on our previously reported basic and diluted net loss per share for the three months ended August 28, 2022 as presented in the Company’s Quarterly Report on Form 10-Q Note 1, are as follows:


	Three Months Ended August 28, 2022
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Numerator:
Net (loss) income applicable to Common Stockholders	$	(11,351)	$	385	$	(10,966)	$	—	$	(10,966)

Denominator:
Weighted average shares for basic net income per share	29,577		—		29,577		—		29,577



Weighted average shares for diluted net income per share	29,577		—		29,577		—		29,577

Diluted net (loss) income per share	$	(0.38)	$	0.01	$	(0.37)	$	—	$	(0.37)

The effects of this error on our previously reported disaggregated revenue for the three months ended August 28, 2022 as presented in the Company’s Quarterly Report on Form 10-Q Note 1, are as follows:


	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Contact development and manufacturing organization	$	18,247	$	21	$	18,268	$	—	$	18,268
Fermentation	5,456		—		5,456		—		5,456
Total	$	23,703	$	21	$	23,724	$	—	$	23,724

	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Avocado Products	$	17,093	$	—	$	17,093	$	(17,093)	$	—
Olive oil and vinegars	2,559		—		2,559		(2,559)		—
Total	$	19,652	$	—	$	19,652	$	(19,652)	$	—

The effects of this error on our previously reported segment reporting for the three months ended August 28, 2022 as presented in the Company’s Quarterly Report on Form 10-Q Note 7, are as follows.

The segment table below has been restated to reflect the correction of accounting errors within the consolidated financial statements for the three months ended August 28, 2022. Refer to Note 14 for the related income statement line items


	Three Months Ended August 28, 2022
(in thousands)	Lifecore		Curation Foods		Other		Total
Three Months Ended August 28, 2022, As Reported
Net sales	$	23,703	$	19,652	$	—	$	43,355
Gross profit	6,101		151		—		6,252
Net income (loss) from continuing operations	502		(2,721)		(9,132)		(11,351)

Depreciation and amortization	1,771		2,167		11		3,949
Interest income	15		—		—		15
Interest expense	—		—		3,678		3,678
Income tax (benefit) expense, continuing operations	158		(1,065)		911		4
Corporate overhead allocation	1,038		334		(1,372)		—

Restatement Adjustments
Net sales	21		—		—		21
Gross profit	(127)		70		—		(57)
Net (loss) income from continuing operations	31		(959)		1,340		412
Loss from discontinued operations, net of tax	—		(27)		—		(27)
Depreciation and amortization	30		—		—		30
Interest expense	—		—		(432)		(432)
Income tax (benefit) expense, continuing operations	(158)		1,066		(908)		—







Three Months Ended August 28, 2022, As Restated
Net sales	$	23,724	$	19,652	$	—	$	43,376
Gross profit	5,974		221		—		6,195
Net income (loss) from continuing operations	533		(3,680)		(7,792)		(10,939)
Loss from discontinued operations, net of tax	—		(27)		—		(27)
Depreciation and amortization	1,801		2,167		11		3,979
Interest income	15		—		—		15
Interest expense	—		—		3,246		3,246
Income tax expense, continuing operations	—		1		3		4
Corporate overhead allocation	1,038		334		(1,372)		—

As of and for the three and nine months ended February 27, 2022

The effects of the restatement on the consolidated balance sheet as of February 27, 2022 are summarized in the following table:


	February 27, 2022
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
ASSETS
Current Assets:
Cash and cash equivalents	$	1,854	$	—	$	1,854	$	(753)	$	1,101
Accounts receivable, net	49,559		(522)		49,037		(9,290)		39,747
Inventories	73,700		(2,591)		71,109		(36,351)		34,758
Prepaid expenses and other current assets	6,924		(1,784)		5,140		(3,322)		1,818
Current assets, discontinued operations	—		—		—		49,716		49,716
Total Current Assets	132,037		(4,897)		127,140		—		127,140

Property and equipment, net	123,209		3,557		126,766		(16,263)		110,503
Operating lease right-of-use assets	8,796		—		8,796		(3,093)		5,703
Goodwill	33,916		—		33,916		(20,035)		13,881
Trademarks/tradenames, net	17,100		—		17,100		(12,900)		4,200
Customer relationships, net	7,476		—		7,476		(7,425)		51
Other assets	3,048		—		3,048		(113)		2,935
Non-current assets, discontinued operations	—		—		—		59,829		59,829
Total Assets	$	325,582	$	(1,340)	$	324,242	$	—	$	324,242

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities:
Accounts payable	$	20,014	$	27	$	20,041	$	(6,747)	$	13,294
Accrued compensation	9,757		—		9,757		(339)		9,418
Other accrued liabilities	14,083		(36)		14,047		(1,054)		12,993
Current portion of lease liabilities	5,045		—		5,045		(650)		4,395
Deferred revenue	1,614		—		1,614		—		1,614
Line of credit	39,900		—		39,900		—		39,900
Current liabilities, discontinued operations	—		—		—		8,790		8,790
Total Current Liabilities	90,413		(9)		90,404		—		90,404

Long-term debt, net	79,598		—		79,598		—		79,598
Long-term lease liabilities	10,342		—		10,342		(2,494)		7,848
Deferred taxes, net	961		(165)		796		—		796
Other non-current liabilities	544		—		544		—		544
Non-current liabilities, discontinued operations	—		—		—		2,494		2,494
Total Liabilities	181,858		(174)		181,684		—		181,684

Stockholders’ Equity:
Common stock	29		—		29		—		29
Additional paid-in capital	166,943		—		166,943		—		166,943
Accumulated deficit	(22,536)		(1,166)		(23,702)		—		(23,702)
Accumulated other comprehensive loss	(712)		—		(712)		—		(712)
Total Stockholders’ Equity	143,724		(1,166)		142,558		—		142,558
Total Liabilities and Stockholders’ Equity	$	325,582	$	(1,340)	$	324,242	$	—	$	324,242

The effects of the restatement on the consolidated statement of operations and comprehensive income (loss) for the three months February 27, 2022 are summarized in the following table:


	Three Months Ended February 27, 2022
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Product sales	$	37,399	$	2	$	37,401	$	(2,169)	$	35,232
Cost of product sales	24,533		793		25,326		(1,733)		23,593
Gross profit	12,866		(791)		12,075		(436)		11,639
Operating costs and expenses:
Research and development	2,000		288		2,288		(34)		2,254
Selling, general and administrative	14,163		175		14,338		(589)		13,749
Restructuring costs	5,270		4		5,274		—		5,274
Total operating costs and expenses	21,433		467		21,900		(623)		21,277
Operating loss	(8,567)		(1,258)		(9,825)		187		(9,638)


Interest income	20		—		20		—		20
Interest expense	(4,105)		429		(3,676)		—		(3,676)
Transition services income	5,473		—		5,473		—		5,473
Other income (expense)	454		(164)		290		—		290
Net loss from continuing operations before taxes	(6,725)		(993)		(7,718)		187		(7,531)
Income tax benefit (expense)	87		(2,014)		(1,927)		(1,462)		(3,389)
Net loss from continuing operations	(6,638)		(3,007)		(9,645)		(1,275)		(10,920)

Discontinued operations:
(Loss) gain from discontinued operations	(6,859)		494		(6,365)		(187)		(6,552)
Income tax benefit (expense)	411		2,013		2,424		1,462		3,886
(Loss) income from discontinued operations, net of tax	(6,448)		2,507		(3,941)		1,275		(2,666)
Consolidated net loss	$	(13,086)	$	(500)	$	(13,586)	$	—	$	(13,586)



Basic net (loss) income per share:
Loss from continuing operations	$	(0.23)	$	(0.10)	$	(0.33)	$	(0.04)	$	(0.37)
Loss from discontinued operations	$	(0.22)	$	0.09	$	(0.13)	$	0.04	$	(0.09)
Total basic net loss per share	$	(0.45)	$	(0.01)	$	(0.46)	$	—	$	(0.46)

Diluted net (loss) income per share:
Loss from continuing operations	$	(0.23)	$	(0.10)	$	(0.33)	$	(0.04)	$	(0.37)
Loss from discontinued operations	$	(0.22)	$	0.09	$	(0.13)	$	0.04	$	(0.09)
Total diluted net loss per share	$	(0.45)	$	(0.01)	$	(0.46)	$	—	$	(0.46)

Shares used in per share computation
Basic	29,482		—		29,482		—		29,482
Diluted	29,482		—		29,482		—		29,482

	Three Months Ended February 27, 2022


(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Net loss	$	(13,086)	$	(500)	$	(13,586)	$	—	$	(13,586)
Other comprehensive (loss) income, net of tax:
Net unrealized gains on interest rate swaps, net of tax	104		—		104		—		104
Other comprehensive income, net of tax	104		—		104		—		104
Total comprehensive loss	$	(12,982)	$	(500)	$	(13,482)	$	—	$	(13,482)

The effects of the restatement on the consolidated statement of operations and comprehensive income (loss) for the nine months February 27, 2022 are summarized in the following table:


	Nine Months Ended February 27, 2022
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Product sales	$	90,140	$	40	$	90,180	$	(7,016)	$	83,164
Cost of product sales	58,507		1,637		60,144		(5,622)		54,522
Gross profit	31,633		(1,597)		30,036		(1,394)		28,642
Operating costs and expenses:
Research and development	5,722		(17)		5,705		(81)		5,624
Selling, general and administrative	27,659		211		27,870		(1,708)		26,162
Restructuring costs	7,530		(502)		7,028		—		7,028
Total operating costs and expenses	40,911		(308)		40,603		(1,789)		38,814
Operating (loss) income	(9,278)		(1,289)		(10,567)		395		(10,172)


Interest income	66		—		66		—		66
Interest expense	(13,877)		1,304		(12,573)		—		(12,573)
Transition services income	5,473		—		5,473		—		5,473
Other income	642		24		666		—		666
Net (loss) income from continuing operations before taxes	(16,974)		39		(16,935)		395		(16,540)
Income tax benefit (expense)	5,591		—		5,591		(130)		5,461
Net loss from continuing operations	(11,383)		39		(11,344)		265		(11,079)

Discontinued operations:
Loss from discontinued operations	(49,576)		(367)		(49,943)		(395)		(50,338)
Income tax (expense) benefit	(157)		—		(157)		130		(27)
Loss from discontinued operations, net of tax	(49,733)		(367)		(50,100)		(265)		(50,365)
Consolidated net loss	$	(61,116)	$	(328)	$	(61,444)	$	—	$	(61,444)



Basic net (loss) income per share:
Loss from continuing operations	$	(0.39)	$	—	$	(0.39)	$	0.01	$	(0.38)
Loss from discontinued operations	$	(1.69)	$	(0.01)	$	(1.70)	$	(0.01)	$	(1.71)
Total basic net loss per share	$	(2.08)	$	(0.01)	$	(2.09)	$	—	$	(2.09)


Diluted net (loss) income per share:
Loss income from continuing operations	$	(0.39)	$	—	$	(0.39)	$	0.01	$	(0.38)
Loss from discontinued operations	$	(1.69)	$	(0.01)	$	(1.70)	$	(0.01)	$	(1.71)
Total diluted net loss per share	$	(2.08)	$	(0.01)	$	(2.09)	$	—	$	(2.09)

Shares used in per share computation
Basic	29,459		—		29,459		—		29,459
Diluted	29,459		—		29,459		—		29,459

	Nine Months Ended February 27, 2022
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Net loss	$	(61,116)	$	(328)	$	(61,444)	$	—	$	(61,444)
Other comprehensive (loss) income, net of tax:
Net unrealized gains on interest rate swaps, net of tax	646		—		646		—		646
Other comprehensive income, net of tax	646		—		646		—		646
Total comprehensive loss	$	(60,470)	$	(328)	$	(60,798)	$	—	$	(60,798)

The effects of the restatement on the consolidated statement of convertible preferred stock and stockholders’ equity (deficit) for the three and nine months ended February 27, 2022 are summarized in the following table:


	Convertible Preferred Stock			Common Stock			Additional Paid-in Capital		Retained Earnings (Accumulated Deficit)		Accumulated Other Comprehensive Loss		Total Stockholders’ Equity
	Shares	Amount		Shares	Amount
As Reported
Balance at May 30, 2021	—	$	—	29,333	$	29	$	165,533	$	38,580	$	(1,358)	$	202,784
Issuance of stock under stock plans, net of shares withheld	—	—		129	—		—		—		—		—
Taxes paid by Company for employee stock plans	—	—		—	—		(428)		—		—		(428)
Stock-based compensation	—	—		—	—		620		—		—		620
Net loss	—	—		—	—		—		(9,477)		—		(9,477)
Other comprehensive income, net of tax	—	—		—	—		—		—		366		366
Balance at August 29, 2021	—	$	—	29,462	$	29	$	165,725	$	29,103	$	(992)	$	193,865
Issuance of stock under stock plans, net of shares withheld	—	—		19	—		—		—		—		—
Taxes paid by Company for employee stock plans	—	—		—	—		(84)		—		—		(84)
Stock-based compensation	—	—		—	—		686		—		—		686
Net loss	—	—		—	—		—		(38,441)		—		(38,441)
Other comprehensive income, net of tax	—	—		—	—		—		—		176		176
Balance at November 28, 2021	—	$	—	29,481	$	29	$	166,327	$	(9,338)	$	(816)	$	156,202
Issuance of stock under stock plans, net of shares withheld	—	—		1	—		—		—		—		—
Taxes paid by Company for employee stock plans	—	—		—	—		(6)		—		—		(6)
Stock-based compensation	—	—		—	—		622		—		—		622


Net loss	—	—		—	—		—		(13,086)		—		(13,086)
Other comprehensive income, net of tax	—	—		—	—		—		—		104		104
Balance at February 27, 2022	—	$	—	29,482	$	29	$	166,943	$	(22,424)	$	(712)	$	143,836

Restatements Adjustments
Opening retained earnings (at May 30, 2021)	—	—		—	—		—		(838)		—		(838)
Net income at August 29, 2021	—	—		—	—		—		90		—		90
Opening retained earnings (at August 29, 2021)	—	—		—	—		—		(748)		—		(748)
Net loss at November 28, 2021	—	—		—	—		—		(30)		—		(30)
Opening retained earnings (at November 28, 2021)	—	—		—	—		—		(666)		—		(666)
Net loss at February 27, 2022	—	—		—	—		—		(500)		—		(500)

As Restated
Balance at May 30, 2021	—	$	—	29,333	$	29	$	165,533	$	37,742	$	(1,358)	$	201,946

Issuance of stock under stock plans, net of shares withheld	—	—		129	—		—		—		—		—
Taxes paid by Company for employee stock plans	—	—		—	—		(428)		—		—		(428)
Stock-based compensation	—	—		—	—		620		—		—		620
Net loss	—	—		—	—		—		(9,387)		—		(9,387)
Other comprehensive income, net of tax	—	—		—	—		—		—		366		366
Balance at August 29, 2021	—	$	—	29,462	$	29	$	165,725	$	28,355	$	(992)	$	193,117

Issuance of stock under stock plans, net of shares withheld	—	—		19	—		—		—		—		—
Taxes paid by Company for employee stock plans	—	—		—	—		(84)		—		—		(84)
Stock-based compensation	—	—		—	—		686		—		—		686
Net loss	—	—		—	—		—		(38,471)		—		(38,471)
Other comprehensive income, net of tax	—	—		—	—		—		—		176		176
Balance at November 28, 2021	—	$	—	29,481	$	29	$	166,327	$	(10,116)	$	(816)	$	155,424

Issuance of stock under stock plans, net of shares withheld	—	—		1	—		—		—		—		—
Taxes paid by Company for employee stock plans	—	—		—	—		(6)		—		—		(6)
Stock-based compensation	—	—		—	—		622		—		—		622
Net loss	—	—		—	—		—		(13,586)		—		(13,586)
Other comprehensive income, net of tax	—	—		—	—		—		—		104		104
Balance at February 27, 2022	—	$	—	29,482	$	29	$	166,943	$	(23,702)	$	(712)	$	142,558

The effects of the restatement on the consolidated statement of cash flows for the nine months ended February 27, 2022 are summarized in the following table:


	Nine Months Ended February 27, 2022
	As Reported		Restatement Adjustment		As Restated
Cash flows from operating activities:
Net loss	$	(61,116)	$	(328)	$	(61,444)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Impairment of goodwill	32,057		—		32,057
Depreciation, amortization of intangibles, debt costs and right-of-use assets	14,488		59		14,547
Loss on disposal of property and equipment related to restructuring, net	5,185		—		5,185
Deferred taxes	(5,471)		—		(5,471)
Loss on sale of Eat Smart	235		—		235
Stock-based compensation expense	1,928		—		1,928
Net loss on disposal of property and equipment held and used	25		—		25
Provision (benefit) for expected credit losses	(14)		—		(14)


Other, net	(551)		—		(551)
Changes in current assets and current liabilities:
Accounts receivable, net	(7,525)		—		(7,525)
Inventory	(11,910)		1,538		(10,372)
Prepaid expenses and other current assets	(1,448)		8		(1,440)
Accounts payable	13,507		27		13,534
Accrued compensation	(2,027)		—		(2,027)
Other accrued liabilities	(70)		—		(70)
Deferred revenue	662		—		662
Net cash (used in) provided by operating activities	(22,045)		1,304		(20,741)

Cash flows from investing activities:
Proceeds from the Sale of Eat Smart	73,500		—		73,500
Sale of investment in non-public company	45,100		—		45,100
Purchases of property and equipment	(18,539)		(1,304)		(19,843)
Eat Smart sale net working capital adjustment	(2,390)		—		(2,390)
Proceeds from sales of property and equipment	1,096		—		1,096
Net cash provided by (used in) investing activities	98,767		(1,304)		97,463

Cash flows from financing activities:

Payments on long-term debt	(86,376)		—		(86,376)
Proceeds from line of credit	45,011		—		45,011
Payments on line of credit	(34,111)		—		(34,111)
Taxes paid by Company for employee stock plans	(518)		—		(518)
Payments for debt issuance costs	(169)		—		(169)
Net cash used in financing activities	(76,163)		—		(76,163)

Net increase in cash, cash equivalents and restricted cash	559		—		559
Cash, cash equivalents and restricted cash, beginning of period	1,295		—		1,295
Cash, cash equivalents and restricted cash, end of period	$	1,854	$	—	$	1,854

Supplemental disclosure of non-cash investing and financing activities:
Purchases of property and equipment on trade vendor credit	$	1,764	$	—	$	1,764

The effects of this error on our previously reported changes in the Company’s allowance for sales returns and credit losses for the quarter ended February 27, 2022 as presented in the Company’s Quarterly Report on Form 10-Q Note 1, are as follows:


	February 27, 2022
	Balance at beginning of period		Provision (benefit) for expected credit losses	Write offs, net of recoveries	Balance at end of period
Nine months ended February 27, 2022, As Reported	$	5	—	—	$	5
Restatement Adjustment	$	522	—	—	$	522
Nine months ended February 27, 2022, As Restated	$	527	—	—	$	527
Discontinued Operations	$	(5)	—	—	$	(5)
Nine months ended February 27, 2022, As Restated, after Discontinued Operations	$	522	—	—	$	522

The effects of this error on our previously reported inventories as of February 27, 2022 as presented in the Company’s Quarterly Report on Form 10-Q Note 1, are as follows:


	February 27, 2022
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Finished goods	$	42,387	$	52	$	42,439	$	(29,036)	$	13,403
Raw materials	26,644		(1,937)		24,707		(7,294)		17,413
Work in progress	4,669		(706)		3,963		(21)		3,942
Total inventories	$	73,700	$	(2,591)	$	71,109	$	(36,351)	$	34,758

The effects of this error on our previously reported basic and diluted net loss per share for the three months ended February 27, 2022 as presented in the Company’s Quarterly Report on Form 10-Q Note 1, are as follows:


	Three Months Ended February 27, 2022
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Numerator:
Net loss applicable to Common Stockholders	$	(13,086)	$	(500)	$	(13,586)	$	—	$	(13,586)

Denominator:
Weighted average shares for basic net income per share	29,482		—		29,482		—		29,482



Weighted average shares for diluted net income per share	29,482		—		29,482		—		29,482

Diluted net loss per share	$	(0.45)	$	(0.01)	$	(0.46)	$	—	$	(0.46)

The effects of this error on our previously reported basic and diluted net loss per share for the nine months ended February 27, 2022 as presented in the Company’s Quarterly Report on Form 10-Q Note 1, are as follows:


	Nine Months Ended February 27, 2022
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Numerator:
Net loss applicable to Common Stockholders	$	(61,116)	$	(328)	$	(61,444)	$	—	$	(61,444)

Denominator:
Weighted average shares for basic net income per share	29,459		—		29,459		—		29,459



Weighted average shares for diluted net income per share	29,459		—		29,459		—		29,459

Diluted net loss per share	$	(2.08)	$	(0.01)	$	(2.09)	$	—	$	(2.09)

The effects of this error on our previously reported disaggregated revenue for the three months ended February 27, 2022 as presented in the Company’s Quarterly Report on Form 10-Q Note 1, are as follows:


	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Contact development and manufacturing organization	$	24,799	$	2	$	24,801	$	—	$	24,801
Fermentation	10,009		—		10,009		—		10,009
Total	$	34,808	$	2	$	34,810	$	—	$	34,810

	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Olive oil and vinegars	$	2,169	$	—	$	2,169	$	(2,169)	$	—
Technology	422		—		422		—		422
Total	$	2,591	$	—	$	2,591	$	(2,169)	$	422

The effects of this error on our previously reported disaggregated revenue for the nine months ended February 27, 2022 as presented in the Company’s Quarterly Report on Form 10-Q Note 1, are as follows:


	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Contact development and manufacturing organization	$	63,951	$	40	$	63,991	$	—	$	63,991
Fermentation	17,756		—		17,756		—		17,756
Total	$	81,707	$	40	$	81,747	$	—	$	81,747

	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Olive oil and vinegars	$	7,016	$	—	$	7,016	$	(7,016)	$	—
Technology	1,417		—		1,417		—		1,417
Total	$	8,433	$	—	$	8,433	$	(7,016)	$	1,417

The effects of this error on our previously reported segment reporting for the three months ended February 27, 2022 as presented in the Company’s Quarterly Report on Form 10-Q Note 7, are as follows.

The segment table below has been restated to reflect the correction of accounting errors within the consolidated financial statements for the three months ended February 27, 2022. Refer to Note 14 for the related income statement line items reported in the segment table of the Company after giving effect to the discontinued operations previously reported under the Curation segment. The Company disclosed Other to reconcile the segment information to the consolidated financial statements.


	Three Months Ended February 27, 2022
(in thousands)	Lifecore		Curation Foods		Other		Total
Three Months Ended February 27, 2022, As Reported
Net sales	$	34,808	$	2,591	$	—	$	37,399
Gross profit	12,905		(39)		—		12,866
Net income (loss) from continuing operations	5,054		(5,380)		(6,312)		(6,638)
Loss from discontinued operations, net of tax	—		(3,407)		(3,041)		(6,448)
Depreciation and amortization	1,674		304		18		1,996
Interest income	18		—		2		20
Interest expense	—		26		4,079		4,105
Income tax (benefit) expense, continuing operations	1,596		(1,678)		(5)		(87)
Corporate overhead allocation	1,175		289		(1,464)		—

Restatement Adjustments
Net sales	2		—		—		2
Gross profit	(791)		—		—		(791)
Net (loss) income from continuing operations	2,268		(4,229)		(1,046)		(3,007)
Loss from discontinued operations, net of tax	—		2,507		—		2,507
Depreciation and amortization	24		—		—		24
Interest expense	—		—		(429)		(429)
Income tax (benefit) expense, continuing operations	(3,059)		3,598		1,475		2,014







Three Months Ended February 27, 2022, As Restated
Net sales	$	34,810	$	2,591	$	—	$	37,401
Gross profit	12,114		(39)		—		12,075
Net income (loss) from continuing operations	7,322		(9,609)		(7,358)		(9,645)
Loss from discontinued operations, net of tax	—		(900)		(3,041)		(3,941)
Depreciation and amortization	1,698		304		18		2,020
Interest income	18		—		2		20
Interest expense	—		26		3,650		3,676
Income tax (benefit) expense, continuing operations	(1,463)		1,920		1,470		1,927
Corporate overhead allocation	1,175		289		(1,464)		—

The effects of this error on our previously reported segment reporting for the nine months ended February 27, 2022 as presented in the Company’s Quarterly Report on Form 10-Q Note 7, are as follows.

The segment table below has been restated to reflect the correction of accounting errors within the consolidated financial statements for the nine months ended February 27, 2022. Refer to Note 14 for the related income statement line items reported in the segment table of the Company after giving effect to the discontinued operations previously reported under the Curation segment. The Company disclosed Other to reconcile the segment information to the consolidated financial statements.


	Nine Months Ended February 27, 2022
(in thousands)	Lifecore		Curation Foods		Other		Total
Nine Months Ended February 27, 2022, As Reported
Net sales	$	81,707	$	8,433	$	—	$	90,140
Gross profit	30,384		1,249		—		31,633
Net income (loss) from continuing operations	11,317		4,640		(27,340)		(11,383)
Loss from discontinued operations, net of tax	—		(46,692)		(3,041)		(49,733)
Depreciation and amortization	4,894		364		70		5,328
Interest income	57		—		9		66
Interest expense	—		300		13,577		13,877
Income tax expense (benefit), continuing operations	3,574		(13,422)		4,257		(5,591)
Corporate overhead allocation	3,389		778		(4,167)		—

Restatement Adjustments
Net sales	40		—		—		40
Gross profit	(1,597)		—		—		(1,597)
Net (loss) income from continuing operations	(2,412)		(10,300)		12,751		39
Loss from discontinued operations, net of tax	—		(367)		—		(367)

Depreciation and amortization	59		—		—		59
Interest expense	—		—		(1,304)		(1,304)
Income tax expense (benefit), continuing operations	815		10,632		(11,447)		—







Nine Months Ended February 27, 2022, As Restated
Net sales	$	81,747	$	8,433	$	—	90,180
Gross profit	28,787		1,249		—		30,036
Net income (loss) from continuing operations	8,905		(5,660)		(14,589)		(11,344)
Loss from discontinued operations, net of tax	—		(47,059)		(3,041)		(50,100)
Depreciation and amortization	4,953		364		70		5,387
Interest income	57		—		9		66
Interest expense	—		300		12,273		12,573
Income tax expense (benefit), continuing operations	4,389		(2,790)		(7,190)		(5,591)
Corporate overhead allocation	3,389		778		(4,167)		—

The effects of this error on our previously reported discontinued operations as of February 27, 2022 as presented in the Company’s Quarterly Report on Form 10-Q Note 9, are as follows:


	Eat Smart - As of May 30, 2021
(in thousands)	As Reported		Restatement		As Restated
ASSETS
Cash and cash equivalents	$	136	$	—	$	136
Accounts receivable, less allowance for credit losses	28,583		—		28,583
Inventories	6,587		—		6,587
Prepaid expenses and other current assets	2,312		(515)		1,797
Total current assets, discontinued operations	37,618		(515)		37,103
Investment in non-public company, fair value	45,100		(45,100)		—
Property and equipment, net	59,273		—		59,273
Operating lease right-of-use assets	3,729		—		3,729
Goodwill	35,470		—		35,470
Trademarks/tradenames, net	8,228		—		8,228
Customer relationships, net	2,260		—		2,260
Other assets	80		—		80
Total other assets, discontinued operations	154,140		(45,100)		109,040
Total assets, discontinued operations	$	191,758	$	(45,615)	$	146,143

LIABILITIES
Accounts payable	31,271		—		31,271
Accrued compensation	4,550		—		4,550
Other accrued liabilities	4,041		350		4,391
Current portion of lease liabilities	2,289		—		2,289
Deferred revenue	493		(350)		143
Total current liabilities, discontinued operations	42,644		—		42,644
Long-term lease liabilities	3,252		—		3,252
Other non-current liabilities	729		—		729
Non-current liabilities, discontinued operations	3,981		—		3,981
Total liabilities, discontinued operations	$	46,625	$	—	$	46,625

The effects of this error on our previously reported restructuring cost for the three months ended February 27, 2022 as presented in the Company’s Quarterly Report on Form 10-Q Note 8, are as follows:


	Three Months Ended February 27, 2022
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Asset write-off costs	$	3,693	$	—	$	3,693	$	—	$	3,693
Employee severance and benefit costs	—		—		—		—		—
Lease costs	1,527		—		1,527		—		1,527
Other restructuring costs	50		4		54		—		54
Total restructuring costs	$	5,270	$	4	$	5,274	$	—	$	5,274


	Three Months Ended February 27, 2022
	Curation		Other		Total
Total restructuring costs, As reported	$	5,220	$	50	$	5,270
Restatement adjustments	4		—		4
Total restructuring costs, As restated	$	5,224	$	50	$	5,274

The effects of this error on our previously reported restructuring cost for the nine months ended February 27, 2022 as presented in the Company’s Quarterly Report on Form 10-Q Note 8, are as follows:


	Nine Months Ended February 27, 2022
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Asset write-off costs	$	3,693	$	(566)	$	3,127	$	—	$	3,127
Employee severance and benefit costs	—		34		34		—		34
Lease costs	1,995		—		1,995		—		1,995
Other restructuring costs	1,842		30		1,872		—		1,872
Total restructuring costs	$	7,530	$	(502)	$	7,028	$	—	$	7,028


	Nine Months Ended February 27, 2022
	Curation		Other		Total
Total restructuring costs, As reported	$	5,686	$	1,844	$	7,530
Restatement adjustments	(502)		—		(502)
Total restructuring costs, As restated	$	5,184	$	1,844	$	7,028

As of and for the three and six months ended November 28, 2021

The effects of the restatement on the consolidated balance sheet as of November 28, 2021 are summarized in the following table:


	November 28, 2021
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
ASSETS
Current Assets:
Cash and cash equivalents	$	1,091	$	—	$	1,091	$	(482)	$	609
Accounts receivable, less allowance for doubtful accounts	65,276		(522)		64,754		(37,259)		27,495
Inventories	79,433		(1,824)		77,609		(37,894)		39,715
Prepaid expenses and other current assets	8,721		(1,622)		7,099		(5,658)		1,441
Current assets, discontinued operations	—		—		—		81,293		81,293
Total Current Assets	154,521		(3,968)		150,553		—		150,553

Property and equipment, net	179,929		3,152		183,081		(74,320)		108,761
Operating lease right-of-use assets	11,979		—		11,979		(4,492)		7,487
Goodwill	37,329		—		37,329		(23,448)		13,881
Trademarks/tradenames, net	25,328		—		25,328		(21,128)		4,200
Customer relationships, net	9,799		—		9,799		(9,671)		128
Other assets	3,239		—		3,239		(156)		3,083
Non-current assets, discontinued operations	—		—		—		133,215		133,215
Total Assets	$	422,124	$	(816)	$	421,308	$	—	$	421,308

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities:
Accounts payable	$	59,098	$	52	$	59,150	$	(50,495)	$	8,655
Accrued compensation	7,214		—		7,214		(3,958)		3,256
Other accrued liabilities	9,804		76		9,880		(6,000)		3,880
Current portion of lease liabilities	2,988		—		2,988		(1,770)		1,218
Deferred revenue	1,160		—		1,160		(193)		967
Line of credit	42,000		—		42,000		—		42,000
Current Liabilities, discontinued operations	—		—		—		62,416		62,416
Total Current Liabilities	122,264		128		122,392		—		122,392

Long-term debt, net	124,194		—		124,194		—		124,194
Long-term lease liabilities	14,203		—		14,203		(2,859)		11,344
Deferred taxes, net	1,367		(166)		1,201		—		1,201
Other non-current liabilities	3,894		—		3,894		(1,962)		1,932
Non-current liabilities, discontinued operations	—		—		—		4,821		4,821
Total Liabilities	265,922		(38)		265,884		—		265,884

Stockholders’ Equity:
Common stock	29		—		29		—		29
Additional paid-in capital	166,327		—		166,327		—		166,327
Accumulated deficit	(9,338)		(778)		(10,116)		—		(10,116)
Accumulated other comprehensive loss	(816)		—		(816)		—		(816)
Total Stockholders’ Equity	156,202		(778)		155,424		—		155,424
Total Liabilities and Stockholders’ Equity	$	422,124	$	(816)	$	421,308	$	—	$	421,308

The effects of the restatement on the consolidated statement of operations and comprehensive income (loss) for the three months November 28, 2021 are summarized in the following table:


	Three Months Ended November 28, 2021
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Product sales	$	43,452	$	38	$	43,490	$	(17,889)	$	25,601
Cost of product sales	28,737		616		29,353		(15,210)		14,143
Gross profit	14,715		(578)		14,137		(2,679)		11,458
Operating costs and expenses:
Research and development	1,856		—		1,856		(176)		1,680
Selling, general and administrative	8,012		82		8,094		(2,633)		5,461

Restructuring costs	707		(80)		627		—		627
Total operating costs and expenses	10,575		2		10,577		(2,809)		7,768
Operating income (loss)	4,140		(580)		3,560		130		3,690


Interest income	19		—		19		—		19
Interest expense	(3,094)		327		(2,767)		—		(2,767)
Other income	79		251		330		—		330
Net income (loss) from continuing operations before taxes	1,144		(2)		1,142		130		1,272
Income tax benefit	3,085		2,147		5,232		1,043		6,275
Net income from continuing operations	4,229		2,145		6,374		1,173		7,547

Discontinued operations:
Loss from discontinued operations	(42,409)		(52)		(42,461)		(130)		(42,591)
Income tax expense	(261)		(2,123)		(2,384)		(1,043)		(3,427)
Loss from discontinued operations, net of tax	(42,670)		(2,175)		(44,845)		(1,173)		(46,018)
Consolidated net loss	$	(38,441)	$	(30)	$	(38,471)	$	—	$	(38,471)



Basic net (loss) income per share:
Income from continuing operations	$	0.14	$	0.07	$	0.21	$	0.04	$	0.25
Loss from discontinued operations	$	(1.44)	$	(0.08)	$	(1.52)	$	(0.04)	$	(1.56)
Total basic net loss per share	$	(1.30)	$	(0.01)	$	(1.31)	$	—	$	(1.31)

Diluted net (loss) income per share:
Income from continuing operations	$	0.14	$	0.07	$	0.21	$	0.04	$	0.25
Loss from discontinued operations	$	(1.44)	$	(0.08)	$	(1.52)	$	(0.04)	$	(1.56)
Total diluted net loss income per share	$	(1.30)	$	(0.01)	$	(1.31)	$	—	$	(1.31)

Shares used in per share computation
Basic	29,471		—		29,471		—		29,471
Diluted	29,471		—		29,471		—		29,471



	Three Months Ended November 28, 2021
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Net (loss) income	$	(38,441)	$	(30)	$	(38,471)	$	—	$	(38,471)
Other comprehensive (loss) income, net of tax:
Net unrealized gains on interest rate swaps, net of tax	176		—		176		—		176
Other comprehensive income, net of tax	176		—		176		—		176
Total comprehensive (loss) income	$	(38,265)	$	(30)	$	(38,295)	$	—	$	(38,295)

The effects of the restatement on the consolidated statement of operations and comprehensive income (loss) for the six months November 28, 2021 are summarized in the following table:


	Six Months Ended November 28, 2021
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Product sales	$	85,084	$	38	$	85,122	$	(37,191)	$	47,931
Cost of product sales	59,934		956		60,890		(29,962)		30,928
Gross profit	25,150		(918)		24,232		(7,229)		17,003
Operating costs and expenses:
Research and development	3,729		—		3,729		(360)		3,369
Selling, general and administrative	17,482		314		17,796		(5,384)		12,412

Restructuring costs	2,541		(786)		1,755		—		1,755
Total operating costs and expenses	23,752		(472)		23,280		(5,744)		17,536
Operating income (loss)	1,398		(446)		952		(1,485)		(533)


Interest income	46		—		46		—		46
Interest expense	(9,772)		875		(8,897)		—		(8,897)
Other income	188		188		376		—		376
Net (loss) income from continuing operations before taxes	(8,140)		617		(7,523)		(1,485)		(9,008)
Income tax benefit	4,736		2,014		6,750		1,332		8,082
Net (loss) income from continuing operations	(3,404)		2,631		(773)		(153)		(926)

Discontinued operations:
(Loss) gain from discontinued operations	(44,714)		(558)		(45,272)		1,485		(43,787)
Income tax benefit (provision)	200		(2,013)		(1,813)		(1,332)		(3,145)
(Loss) gain from discontinued operations, net of tax	(44,514)		(2,571)		(47,085)		153		(46,932)
Consolidated net (loss) income	$	(47,918)	$	60	$	(47,858)	$	—	$	(47,858)



Basic net (loss) income per share:


(Loss) income from continuing operations	$	(0.12)	$	0.09	$	(0.03)	$	(0.01)	$	(0.04)
(Loss) income from discontinued operations	$	(1.51)	$	(0.09)	$	(1.60)	$	0.01	$	(1.59)
Total basic net (loss) income per share	$	(1.63)	$	—	$	(1.63)	$	—	$	(1.63)

Diluted net (loss) income per share:
(Loss) income from continuing operations	$	(0.12)	$	0.09	$	(0.03)	$	(0.01)	$	(0.04)
Loss from discontinued operations	$	(1.51)	$	(0.09)	$	(1.60)	$	0.01	$	(1.59)
Total diluted net (loss) income per share	$	(1.63)	$	—	$	(1.63)	$	—	$	(1.63)

Shares used in per share computation
Basic	29,448		—		29,448		—		29,448
Diluted	29,448		—		29,448		—		29,448

	Six Months Ended November 28, 2021
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations

Net (loss) income	$	(47,918)	$	60	$	(47,858)	$	—	$	(47,858)
Other comprehensive (loss) income, net of tax:
Net unrealized gains on interest rate swaps, net of tax	542		—		542		—		542
Other comprehensive income, net of tax	542		—		542		—		542
Total comprehensive (loss) income	$	(47,376)	$	60	$	(47,316)	$	—	$	(47,316)

The effects of the restatement on the consolidated statement of convertible preferred stock and stockholders’ equity (deficit) for the three and six months ended November 28, 2021 are summarized in the following table:


	Convertible Preferred Stock			Common Stock			Additional Paid-in Capital		Retained Earnings (Accumulated Deficit)		Accumulated Other Comprehensive Loss		Total Stockholders’ Equity
	Shares	Amount		Shares	Amount
As Reported
Balance at May 30, 2021	—	$	—	29,333	$	29	$	165,533	$	38,580	$	(1,358)	$	202,784
Issuance of stock under stock plans, net of shares withheld	—	—		129	—		—		—		—		—
Taxes paid by Company for employee stock plans	—	—		—	—		(428)		—		—		(428)
Stock-based compensation	—	—		—	—		620		—		—		620
Net loss	—	—		—	—		—		(9,477)		—		(9,477)
Other comprehensive income, net of tax	—	—		—	—		—		—		366		366
Balance at August 29, 2021	—	$	—	29,462	$	29	$	165,725	$	29,103	$	(992)	$	193,865
Issuance of stock under stock plans, net of shares withheld	—	—		19	—		—		—		—		—
Taxes paid by Company for employee stock plans	—	—		—	—		(84)		—		—		(84)
Stock-based compensation	—	—		—	—		686		—		—		686
Net loss	—	—		—	—		—		(38,441)		—		(38,441)
Other comprehensive income, net of tax	—	—		—	—		—		—		176		176


Balance at November 28, 2021	—	$	—	29,481	$	29	$	166,327	$	(9,338)	$	(816)	$	156,202

Restatements Adjustments
Opening retained earnings (at May 30, 2021)	—	—		—	—		—		(838)		—		(838)
Net income at August 29, 2021	—	—		—	—		—		90		—		90
Opening retained earnings (at August 29, 2021)	—	—		—	—		—		(748)		—		(748)
Net loss at November 28, 2021	—	—		—	—		—		(30)		—		(30)


As Restated
Balance at May 30, 2021	—	$	—	29,333	$	29	$	165,533	$	37,742	$	(1,358)	$	201,946

Issuance of stock under stock plans, net of shares withheld	—	—		129	—		—		—		—		—
Taxes paid by Company for employee stock plans	—	—		—	—		(428)		—		—		(428)
Stock-based compensation	—	—		—	—		620		—		—		620
Net loss	—	—		—	—		—		(9,387)		—		(9,387)
Other comprehensive income, net of tax	—	—		—	—		—		—		366		366
Balance at August 29, 2021	—	$	—	29,462	$	29	$	165,725	$	28,355	$	(992)	$	193,117

Issuance of stock under stock plans, net of shares withheld	—	—		19	—		—		—		—		—
Taxes paid by Company for employee stock plans	—	—		—	—		(84)		—		—		(84)
Stock-based compensation	—	—		—	—		686		—		—		686
Net loss	—	—		—	—		—		(38,471)		—		(38,471)
Other comprehensive income, net of tax	—	—		—	—		—		—		176		176
Balance at November 28, 2021	—	$	—	29,481	$	29	$	166,327	$	(10,116)	$	(816)	$	155,424

The effects of the restatement on the consolidated statement of cash flows for the six months ended November 28, 2021 are summarized in the following table:


	Six Months Ended November 28, 2021
	As Reported		Restatement Adjustment		As Restated
Cash flows from operating activities:
Net (loss) income	$	(47,918)	$	60	$	(47,858)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Impairment of goodwill	32,057		—		32,057
Depreciation, amortization of intangibles, debt costs and right-of-use assets	10,959		35		10,994
Deferred taxes	(4,963)		(1)		(4,964)
Stock-based compensation expense	1,306		—		1,306
Provision for expected credit losses	196		—		196
Net loss on disposal of property and equipment held and used	22		—		22
Loss on disposal of property and equipment related to restructuring, net	(92)		—		(92)

Other, net	(111)		—		(111)
Changes in current assets and current liabilities:
Accounts receivable, net	4,541		—		4,541
Inventory	(9,770)		771		(8,999)
Prepaid expenses and other current assets	(1,784)		(154)		(1,938)
Accounts payable	15,148		52		15,200
Accrued compensation	(5,090)		—		(5,090)
Other accrued liabilities	1,163		112		1,275
Deferred revenue	30		—		30
Net cash (used in) provided by operating activities	(4,306)		875		(3,431)

Cash flows from investing activities:
Sale of investment in non-public company	45,100		—		45,100
Purchases of property and equipment	(13,010)		(875)		(13,885)
Proceeds from sales of property and equipment	1,082		—		1,082
Net cash provided by (used in) investing activities	33,172		(875)		32,297

Cash flows from financing activities:
Payments on long-term debt	(41,426)		—		(41,426)
Proceeds from line of credit	26,000		—		26,000
Payments on line of credit	(13,000)		—		(13,000)
Payments for debt issuance costs	(132)		—		(132)
Taxes paid by Company for employee stock plans	(512)		—		(512)
Net cash used in financing activities	(29,070)		—		(29,070)

Net decrease in cash, cash equivalents and restricted cash	(204)		—		(204)
Cash, cash equivalents and restricted cash, beginning of period	1,295		—		1,295
Cash, cash equivalents and restricted cash, end of period	$	1,091	$	—	$	1,091

Supplemental disclosure of non-cash investing and financing activities:
Purchases of property and equipment on trade vendor credit	$	1,105	$	—	$	1,105

The effects of this error on our previously reported changes in the Company’s allowance for sales returns and credit losses for the quarter ended November 28, 2021 as presented in the Company’s Quarterly Report on Form 10-Q Note 1, are as follows:


	November 28, 2021
	Balance at beginning of period		Provision (benefit) for expected credit losses		Write offs, net of recoveries		Balance at end of period
Six months ended November 28, 2021, As Reported	$	85	$	(14)	$	—	$	71
Restatement Adjustment	$	522	$	—	$	—	$	522
Six months ended November 28, 2021, As Restated	$	607	$	(14)	$	—	$	593
Discontinued Operations	$	(85)	$	14	$	—	$	(71)
Six months ended November 28, 2021, As Restated, after Discontinued Operations	$	522	$	—	$	—	$	522

The effects of this error on our previously reported inventories as of November 28, 2021 as presented in the Company’s Quarterly Report on Form 10-Q Note 1, are as follows:


	November 28, 2021
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Finished goods	$	42,967	$	227	$	43,194	$	(22,309)	$	20,885
Raw materials	31,924		(1,602)		30,322		(15,583)		14,739
Work in progress	4,542		(449)		4,093		(2)		4,091
Total inventories	$	79,433	$	(1,824)	$	77,609	$	(37,894)	$	39,715

The effects of this error on our previously reported basic and diluted net loss per share for the three and six months ended November 28, 2021 as presented in the Company’s Quarterly Report on Form 10-Q Note 1, are as follows:


	Three Months Ended November 28, 2021
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Numerator:
Net loss applicable to Common Stockholders	$	(38,441)	$	(30)	$	(38,471)	$	—	$	(38,471)

Denominator:
Weighted average shares for basic net income per share	29,471		—		29,471		—		29,471



Weighted average shares for diluted net income per share	29,471		—		29,471		—		29,471

Diluted net loss per share	$	(1.30)	$	(0.01)	$	(1.31)	$	—	$	(1.31)


	Six Months Ended November 28, 2021
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Numerator:
Net (loss) income applicable to Common Stockholders	$	(47,918)	$	60	$	(47,858)	$	—	$	(47,858)

Denominator:
Weighted average shares for basic net income per share	29,448		—		29,448		—		29,448



Weighted average shares for diluted net income per share	29,448		—		29,448		—		29,448

Diluted net (loss) income per share	$	(1.63)	$	—	$	(1.63)	$	—	$	(1.63)

The effects of this error on our previously reported disaggregated revenue for the three months ended November 28, 2021 as presented in the Company’s Quarterly Report on Form 10-Q Note 1, are as follows:


	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Contact development and manufacturing organization	$	21,363	$	38	$	21,401	$	—	$	21,401
Fermentation	3,583		—		3,583		—		3,583
Total	$	24,946	$	38	$	24,984	$	—	$	24,984

	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Avocado Products	$	15,381	$	—	$	15,381	$	(15,381)	$	—
Olive oil and vinegars	2,508		—		2,508		(2,508)		—
Technology	617		—		617		—		617
Total	$	18,506	$	—	$	18,506	$	(17,889)	$	617

The effects of this error on our previously reported disaggregated revenue for the six months ended November 28, 2021 as presented in the Company’s Quarterly Report on Form 10-Q Note 1, are as follows:


	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Contact development and manufacturing organization	$	39,152	$	38	$	39,190	$	—	$	39,190
Fermentation	7,746		—		7,746		—		7,746

Total	$	46,898	$	38	$	46,936	$	—	$	46,936

	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Avocado Products	$	32,343	$	—	$	32,343	$	(32,343)	$	—
Olive oil and vinegars	4,848		—		4,848		(4,848)		—
Technology	995		—		995		—		995
Total	$	38,186	$	—	$	38,186	$	(37,191)	$	995

The effects of this error on our previously reported segment reporting for the three months ended November 28, 2021 as presented in the Company’s Quarterly Report on Form 10-Q Note 7, are as follows.

The segment table below has been restated to reflect the correction of accounting errors within the consolidated financial statements for the three months ended November 28, 2021. Refer to Note 14 for the related income statement line items reported in the segment table of the Company after giving effect to the discontinued operations previously reported under the Curation segment. The Company disclosed Other to reconcile the segment information to the consolidated financial statements.


	Three Months Ended November 28, 2021
(in thousands)	Lifecore		Curation Foods		Other		Total
Three Months Ended November 28, 2021, As Reported
Net sales	$	24,946	$	18,506	$	—	$	43,452
Gross profit	11,715		3,000		—		14,715
Net income (loss) from continuing	5,682		(747)		(706)		4,229
Loss from discontinued operations, net of tax	—		(42,670)		—		(42,670)
Depreciation and amortization	1,673		886		26		2,585
Interest income	19		—		—		19
Interest expense	—		136		2,958		3,094
Income tax (benefit) expense, continuing operations	1,794		(579)		(4,300)		(3,085)
Corporate overhead allocation	1,078		1,231		(2,309)		—

Restatement Adjustments
Net sales	38		—		—		38
Gross profit	(498)		(80)		—		(578)
Net (loss) income from continuing operations	(5,293)		716		6,722		2,145
Loss from discontinued operations, net of tax	—		(2,175)		—		(2,175)
Depreciation and amortization	24		—		—		24
Interest expense	—		—		(327)		(327)
Income tax (benefit) expense, continuing operations	4,795		(547)		(6,395)		(2,147)







Three Months Ended November 28, 2021, As Restated
Net sales	$	24,984	$	18,506	$	—	$	43,490
Gross profit	11,217		2,920		—		14,137
Net income (loss) from continuing	389		(31)		6,016		6,374
Loss from discontinued operations, net of tax	—		(44,845)		—		(44,845)
Depreciation and amortization	1,697		886		26		2,609
Interest income	19		—		—		19
Interest expense	—		136		2,631		2,767
Income tax (benefit) expense, continuing operations	6,589		(1,126)		(10,695)		(5,232)
Corporate overhead allocation	1,078		1,231		(2,309)		—

The effects of this error on our previously reported segment reporting for the six months ended November 28, 2021 as presented in the Company’s Quarterly Report on Form 10-Q Note 7, are as follows.

The segment table below has been restated to reflect the correction of accounting errors within the consolidated financial statements for the six months ended November 28, 2021. Refer to Note 14 for the related income statement line items reported in the segment table of the Company after giving effect to the discontinued operations previously reported under the Curation segment. The Company disclosed Other to reconcile the segment information to the consolidated financial statements.


	Six Months Ended November 28, 2021
(in thousands)	Lifecore		Curation Foods		Other		Total
Six Months Ended November 28, 2021, As Reported
Net sales	$	46,898	$	38,186	$	—	$	85,084
Gross profit	17,479		7,671		—		25,150
Net income (loss) from continuing operations	6,262		(1,030)		(8,636)		(3,404)
Loss from discontinued operations, net of tax	—		(44,514)		—		(44,514)
Depreciation and amortization	3,220		1,767		52		5,039
Interest income	39		—		7		46
Interest expense	—		273		9,499		9,772
Income tax (benefit) expense, continuing operations	1,977		(797)		(5,916)		(4,736)
Corporate overhead allocation	2,215		2,702		(4,917)		—

Restatement Adjustments
Net sales	38		—		—		38
Gross profit	(806)		(112)		—		(918)
Net (loss) income from continuing operations	(5,498)		899		7,230		2,631
Loss from discontinued operations, net of tax	—		(2,571)		—		(2,571)
Depreciation and amortization	35		—		—		35
Interest expense	—		—		(875)		(875)
Income tax (benefit) expense, continuing operations	4,692		(351)		(6,355)		(2,014)







Six Months Ended November 28, 2021, As Restated
Net sales	$	46,936	$	38,186	$	—	$	85,122
Gross profit	16,673		7,559		—		24,232
Net income (loss) from continuing operations	764		(131)		(1,406)		(773)
Loss from discontinued operations, net of tax	—		(47,085)		—		(47,085)
Depreciation and amortization	3,255		1,767		52		5,074
Interest income	39		—		7		46
Interest expense	—		273		8,624		8,897
Income tax (benefit) expense, continuing operations	6,669		(1,148)		(12,271)		(6,750)
Corporate overhead allocation	2,215		2,702		(4,917)		—

The effects of this error on our previously reported restructuring cost for the three months ended November 28, 2021 as presented in the Company’s Quarterly Report on Form 10-Q Note 8, are as follows:


	Three Months Ended November 28, 2021
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations



Other restructuring costs	$	707	$	(80)	$	627	$	—	$	627
Total restructuring costs	$	707	$	(80)	$	627	$	—	$	627


	Three Months Ended November 28, 2021
	Curation		Other		Total
Total restructuring costs, As reported	$	(2)	$	709	$	707
Restatement adjustments	(80)		—		(80)
Total restructuring costs, As restated	$	(82)	$	709	$	627

The effects of this error on our previously reported restructuring cost for the six months ended November 28, 2021 as presented in the Company’s Quarterly Report on Form 10-Q Note 8, are as follows:


	Six Months Ended November 28, 2021
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Asset write-off costs	$	—	$	(566)	$	(566)	$	—	$	(566)
Employee severance and benefit costs	—		34		34		—		34
Lease costs	$	468	$	—	$	468	$	—	$	468
Other restructuring costs	2,073		(254)		1,819		—		1,819
Total restructuring costs	$	2,541	$	(786)	$	1,755	$	—	$	1,755


	Six Months Ended November 28, 2021
	Curation		Other		Total
Total restructuring costs, As reported	$	466	$	2,075	$	2,541
Restatement adjustments	(786)		—		(786)
Total restructuring costs, As restated	$	(320)	$	2,075	$	1,755

As of and for the three months ended August 29, 2021

The effects of the restatement on the consolidated balance sheet as of August 29, 2021 are summarized in the following table:


	August 29, 2021
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
ASSETS
Current Assets:
Cash and cash equivalents	$	1,447	$	—	$	1,447	$	(508)	$	939
Accounts receivable, less allowance for doubtful accounts	61,956		(522)		61,434		(35,218)		26,216
Inventories	69,415		(1,350)		68,065		(31,196)		36,869
Prepaid expenses and other current assets	9,591		(1,871)		7,720		(6,396)		1,324
Current assets, discontinued operations	—		—		—		73,318		73,318
Total Current Assets	142,409		(3,743)		138,666		—		138,666

Property and equipment, net	180,460		2,849		183,309		(74,909)		108,400
Operating lease right-of-use assets	14,299		—		14,299		(6,603)		7,696
Goodwill	69,386		—		69,386		(55,505)		13,881
Trademarks/tradenames, net	25,328		—		25,328		(21,128)		4,200
Customer relationships, net	10,295		—		10,295		(10,090)		205
Other assets	3,442		—		3,442		(191)		3,251
Non-current assets, discontinued operations	—		—		—		168,426		168,426
Total Assets	$	445,619	$	(894)	$	444,725	$	—	$	444,725


LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities:
Accounts payable	$	46,355	$	—	46,355		$	(37,749)	8,606
Accrued compensation	9,173		—		9,173		(4,438)		4,735
Other accrued liabilities	10,855		(4)		10,851		(6,138)		4,713
Current portion of lease liabilities	4,054		—		4,054		(2,818)		1,236
Deferred revenue	1,216		—		1,216		(147)		1,069
Line of credit	32,000		—		32,000		—		32,000
Current Liabilities, discontinued operations	—		—		—		51,290		51,290
Total Current Liabilities	103,653		(4)		103,649		—		103,649

Long-term debt, net	123,833		—		123,833		—		123,833
Long-term lease liabilities	17,072		—		17,072		(5,417)		11,655
Deferred taxes, net	4,091		(142)		3,949		—		3,949
Other non-current liabilities	3,105		—		3,105		(729)		2,376
Non-current liabilities, discontinued operations	—		—		—		6,146		6,146
Total Liabilities	251,754		(146)		251,608		—		251,608

Stockholders’ Equity:
Common stock	29		—		29		$	—	29


Additional paid-in capital	165,725		—		165,725		—		165,725
Retained earnings (accumulated deficit)	29,103		(748)		28,355		—		28,355
Accumulated other comprehensive loss	(992)		—		(992)		—		(992)
Total Stockholders’ Equity	193,865		(748)		193,117		—		193,117
Total Liabilities and Stockholders’ Equity	$	445,619	$	(894)	$	444,725	$	—	$	444,725

The effects of the restatement on the consolidated statement of operations and comprehensive income (loss) for the three months August 29, 2021 are summarized in the following table:


	Three Months Ended August 29, 2021
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Product sales	$	41,632	$	—	$	41,632	$	(19,302)	$	22,330
Cost of product sales	31,197		340		31,537		(14,752)		16,785
Gross profit	10,435		(340)		10,095		(4,550)		5,545
Operating costs and expenses:
Research and development	1,873		—		1,873		(184)		1,689
Selling, general and administrative	9,470		232		9,702		(2,751)		6,951
Restructuring costs	1,834		(706)		1,128		—		1,128
Total operating costs and expenses	13,177		(474)		12,703		(2,935)		9,768
Operating loss	(2,742)		134		(2,608)		(1,615)		(4,223)


Interest income	27		—		27		—		27
Interest expense	(6,678)		548		(6,130)		—		(6,130)
Other income (expense)	109		(63)		46		—		46
Net (loss) income from continuing operations before taxes	(9,284)		619		(8,665)		(1,615)		(10,280)
Income tax benefit (expense)	1,651		(133)		1,518		289		1,807
Net (loss) income from continuing operations	(7,633)		486		(7,147)		(1,326)		(8,473)

Discontinued operations:
(Loss) gain from discontinued operations	(2,305)		(506)		(2,811)		1,615		(1,196)
Income tax benefit	461		110		571		(289)		282
(Loss) gain from discontinued operations, net of tax	(1,844)		(396)		(2,240)		1,326		(914)
Consolidated net (loss) income	$	(9,477)	$	90	$	(9,387)	$	—	$	(9,387)



Basic net (loss) income per share:
Loss from continuing operations	$	(0.26)	$	0.02	$	(0.24)	$	(0.05)	$	(0.29)
Loss from discontinued operations	$	(0.06)	$	(0.02)	$	(0.08)	$	0.05	$	(0.03)
Total basic net loss per share	$	(0.32)	$	—	$	(0.32)	$	—	$	(0.32)

Diluted net (loss) income per share:
Loss from continuing operations	$	(0.26)	$	0.02	$	(0.24)	$	(0.05)	$	(0.29)


Loss from discontinued operations	$	(0.06)	$	(0.02)	$	(0.08)	$	0.05	$	(0.03)
Total diluted net loss per share	$	(0.32)	$	—	$	(0.32)	$	—	$	(0.32)

Shares used in per share computation
Basic	29,424		—		29,424		—		29,424
Diluted	29,424		—		29,424		—		29,424

	Three Months Ended August 29, 2021
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Net (loss) income	$	(9,477)	$	90	$	(9,387)	$	—	$	(9,387)
Other comprehensive (loss) income, net of tax:
Net unrealized gains on interest rate swaps, net of tax	366		—		366		—		366
Other comprehensive income, net of tax	366		—		366		—		366
Total comprehensive (loss) income	$	(9,111)	$	90	$	(9,021)	$	—	$	(9,021)

The effects of the restatement on the consolidated statement of convertible preferred stock and stockholders’ equity (deficit) for the three months ended August 29, 2021 are summarized in the following table:


	Convertible Preferred Stock				Common Stock			Additional Paid-in Capital		Retained Earnings (Accumulated Deficit)		Accumulated Other Comprehensive Loss		Total Stockholders’ Equity
	Shares		Amount		Shares	Amount
As Reported
Balance at May 30, 2021	—		$	—	29,333	$	29	$	165,533	$	38,580	$	(1,358)	$	202,784
Issuance of stock under stock plans, net of shares withheld	—		—		129	—		—		—		—		—
Taxes paid by Company for employee stock plans	—		—		—	—		(428)		—		—		(428)
Stock-based compensation	—		—		—	—		620		—		—		620
Net loss	—		—		—	—		—		(9,477)		—		(9,477)
Other comprehensive income, net of tax	—		—		—	—		—		—		366		366
Balance at August 29, 2021	$	—	$	—	29,462	$	29	$	165,725	$	29,103	$	(992)	$	193,865

Restatements Adjustments
Opening retained earnings (at May 30, 2021)	—		—		—	—		—		(838)		—		(838)
Net income at August 29, 2021	—		—		—	—		—		90		—		90


As Restated
Balance at May 30, 2021	—		$	—	29,333	$	29	$	165,533	$	37,742	$	(1,358)	$	201,946

Issuance of stock under stock plans, net of shares withheld	—		—		129	—		—		—		—		—
Taxes paid by Company for employee stock plans	—		—		—	—		(428)		—		—		(428)
Stock-based compensation	—		—		—	—		620		—		—		620
Net loss	—		—		—	—		—		(9,387)		—		(9,387)
Other comprehensive income, net of tax	—		—		—	—		—		—		366		366
Balance at August 29, 2021	$	—	$	—	29,462	$	29	$	165,725	$	28,355	$	(992)	$	193,117

The effects of the restatement on the consolidated statement of cash flows for the three months ended August 29, 2021 are summarized in the following table:


	Three Months Ended August 29, 2021
	As Reported		Restatement Adjustment		As Restated
Cash flows from operating activities:
Net (loss) income	$	(9,477)	$	90	$	(9,387)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation, amortization of intangibles, debt costs and right-of-use assets	5,054		11		5,065
Deferred taxes	(2,138)		23		(2,115)
Stock-based compensation expense	620		—		620
Provision for expected credit losses	60		—		60
Net loss on disposal of property and equipment held and used	16		—		16
Loss on disposal of property and equipment related to restructuring, net	(92)		—		(92)
Other, net	(70)		—		(70)
Changes in current assets and current liabilities:
Accounts receivable, net	7,997		—		7,997
Inventory	248		297		545
Prepaid expenses and other current assets	(2,697)		95		(2,602)
Accounts payable	1,517		—		1,517
Accrued compensation	(3,131)		—		(3,131)
Other accrued liabilities	2,838		32		2,870
Deferred revenue	86		—		86
Net cash provided by operating activities	831		548		1,379

Cash flows from investing activities:
Sale of investment in non-public company	45,100		—		45,100
Purchases of property and equipment	(7,913)		(548)		(8,461)
Proceeds from sales of property and equipment	1,082		—		1,082
Net cash provided by (used in) investing activities	38,269		(548)		37,721

Cash flows from financing activities:
Payments on long-term debt	(41,388)		—		(41,388)
Proceeds from line of credit	8,000		—		8,000
Payments on line of credit	(5,000)		—		(5,000)
Payments for debt issuance costs	(132)		—		(132)
Taxes paid by Company for employee stock plans	(428)		—		(428)
Net cash used in financing activities	(38,948)		—		(38,948)

Net increase in cash, cash equivalents and restricted cash	152		—		152
Cash, cash equivalents and restricted cash, beginning of period	1,295		—		1,295
Cash, cash equivalents and restricted cash, end of period	$	1,447	$	—	$	1,447

Supplemental disclosure of non-cash investing and financing activities:
Purchases of property and equipment on trade vendor credit	$	1,994	$	—	$	1,994

The effects of this error on our previously reported changes in the Company’s allowance for sales returns and credit losses for the quarter ended August 29, 2021 as presented in the Company’s Quarterly Report on Form 10-Q Note 1, are as follows:


	August 29, 2021
	Balance at beginning of period		Provision (benefit) for expected credit losses	Write offs, net of recoveries	Balance at end of period
Three months ended August 29, 2021, As Reported	$	85	—	—	$	85
Restatement Adjustment	$	522	—	—	$	522
Three months ended August 29, 2021, As Restated	$	607	—	—	$	607
Discontinued Operations	$	(85)	—	—	$	(85)
Three months ended August 29, 2021, As Restated, after Discontinued Operations	$	522	—	—	$	522

The effects of this error on our previously reported inventories as of August 29, 2021 as presented in the Company’s Quarterly Report on Form 10-Q Note 1, are as follows:


	August 29, 2021
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Finished goods	$	35,142	$	180	$	35,322	$	(16,278)	$	19,044
Raw materials	30,344		(1,088)		29,256		(14,914)		14,342
Work in progress	3,929		(442)		3,487		(4)		3,483
Total inventories	$	69,415	$	(1,350)	$	68,065	$	(31,196)	$	36,869

The effects of this error on our previously reported basic and diluted net loss per share for the three months ended August 29, 2021 as presented in the Company’s Quarterly Report on Form 10-Q Note 1, are as follows:


	Three Months Ended August 29, 2021
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Numerator:
Net (loss) income applicable to Common Stockholders	$	(9,477)	$	90	$	(9,387)	$	—	$	(9,387)

Denominator:
Weighted average shares for basic net income per share	29,424		—		29,424		—		29,424



Weighted average shares for diluted net income per share	29,424		—		29,424		—		29,424

Diluted net loss per share	$	(0.32)	$	—	$	(0.32)	$	—	$	(0.32)

The effects of this error on our previously reported disaggregated revenue for the three months ended August 29, 2021 as presented in the Company’s Quarterly Report on Form 10-Q Note 1, are as follows:


	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Contact development and manufacturing organization	$	17,789	$	—	$	17,789	$	—	$	17,789
Fermentation	4,163		—		4,163		—		4,163

Total	$	21,952	$	—	$	21,952	$	—	$	21,952

	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Avocado Products	$	16,962	$	—	$	16,962	$	(16,962)	$	—
Olive oil and vinegars	2,340		—		2,340		(2,340)		—
Technology	378		—		378		—		378
Total	$	19,680	$	—	$	19,680	$	(19,302)	$	378

The effects of this error on our previously reported segment reporting for the three months ended August 29, 2021 as presented in the Company’s Quarterly Report on Form 10-Q Note 7, are as follows.

The segment table below has been restated to reflect the correction of accounting errors within the consolidated financial statements for the three months ended August 29, 2021. Refer to Note 14 for the related income statement line items


	Three Months Ended August 29, 2021
(in thousands)	Lifecore		Curation Foods		Other		Total
Three Months Ended August 29, 2021, As Reported
Net sales	$	21,952	$	19,680	$	—	$	41,632
Gross profit	5,764		4,671		—		10,435
Net income (loss) from continuing operations	580		(284)		(7,929)		(7,633)
Loss from discontinued operations, net of taxes	—		(1,844)		—		(1,844)
Depreciation and amortization	1,547		881		26		2,454
Interest income	20		—		7		27
Interest expense	—		137		6,541		6,678
Income tax (benefit) expense, continuing operations	183		(218)		(1,616)		(1,651)
Corporate overhead allocation	1,137		1,471		(2,608)		—

Restatement Adjustments
Net sales	—		—		—		—
Gross profit	(308)		(32)		—		(340)
Net (loss) income from continuing operations	(205)		183		508		486
Loss from discontinued operations, net of taxes	—		(396)		—		(396)
Depreciation and amortization	11		—		—		11
Interest expense	—		—		(548)		(548)
Income tax (benefit) expense, continuing operations	(103)		196		40		133







Three Months Ended August 29, 2021, As Restated
Net sales	$	21,952	$	19,680	$	—	$	41,632
Gross profit	5,456		4,639		—		10,095
Net income (loss) from continuing operations	375		(101)		(7,421)		(7,147)
Loss from discontinued operations, net of taxes	—		(2,240)		—		(2,240)
Depreciation and amortization	1,558		881		26		2,465
Interest income	20		—		7		27
Interest expense	—		137		5,993		6,130
Income tax (benefit) expense, continuing operations	80		(22)		(1,576)		(1,518)
Corporate overhead allocation	1,137		1,471		(2,608)		—

The effects of this error on our previously reported restructuring cost for the three months ended August 29, 2021 as presented in the Company’s Quarterly Report on Form 10-Q Note 8, are as follows:


	Three Months Ended August 29, 2021
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Asset write-off costs	$	—	$	(566)	$	(566)	$	—	$	(566)
Employee severance and benefit costs	—		34		34		—		34
Lease costs	$	468	$	—	$	468	$	—	$	468
Other restructuring costs	1,366		(174)		1,192		—		1,192
Total restructuring costs	$	1,834	$	(706)	$	1,128	$	—	$	1,128


	Three Months Ended August 29, 2021
	Curation		Other		Total
Total restructuring costs, As reported	$	468	$	1,366	$	1,834
Restatement adjustments	(706)		—		(706)
Total restructuring costs, As restated	$	(238)	$	1,366	$	1,128

As of and for the three and nine months ended February 28, 2021

The effects of the restatement on the consolidated balance sheet as of February 28, 2021 are summarized in the following table:


	February 28, 2021
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
ASSETS
Current Assets:
Cash and cash equivalents	$	2,248	$	—	$	2,248	$	(395)	$	1,853
Accounts receivable, less allowance for doubtful accounts	69,577		—		69,577		(40,714)		28,863
Inventories	76,779		(1,473)		75,306		(43,865)		31,441
Prepaid expenses and other current assets	14,323		(3,132)		11,191		(5,245)		5,946
Current assets, discontinued operations	—		—		—		90,219		90,219
Total Current Assets	162,927		(4,605)		158,322		—		158,322

Investment in non-public company, fair value	45,100		—		45,100		—		45,100
Property and equipment, net	168,693		1,644		170,337		(74,548)		95,789
Operating lease right-of-use assets	23,528		—		23,528		(8,125)		15,403
Goodwill	69,386		—		69,386		(55,505)		13,881
Trademarks/tradenames, net	25,328		—		25,328		(21,128)		4,200
Customer relationships, net	11,288		—		11,288		(10,929)		359
Other assets	3,573		—		3,573		(198)		3,375
Non-current assets, discontinued operations	—		—		—		170,433		170,433
Total Assets	$	509,823	$	(2,961)	$	506,862	$	—	$	506,862

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities:
Accounts payable	$	56,323	$	—	$	56,323	$	(47,436)	$	8,887
Accrued compensation	11,218		—		11,218		(4,794)		6,424
Other accrued liabilities	11,186		314		11,500		(5,724)		5,776
Current portion of lease liabilities	4,027		—		4,027		(3,022)		1,005
Deferred revenue	1,595		(350)		1,245		(505)		740
Line of credit	41,000		—		41,000		—		41,000
Current Liabilities, discontinued operations	—		—		—		61,481		61,481
Total Current Liabilities	125,349		(36)		125,313		—		125,313

Long-term debt, net	145,051		—		145,051		—		145,051
Long-term lease liabilities	24,430		—		24,430		(6,511)		17,919
Deferred taxes, net	6,608		(504)		6,104		—		6,104
Other non-current liabilities	3,761		—		3,761		(729)		3,032
Non-current liabilities, discontinued operations	—		—		—		7,240		7,240
Total Liabilities	305,199		(540)		304,659		—		304,659


Stockholders’ Equity:
Common stock	29		—		29		—		29
Additional paid-in capital	164,865		—		164,865		—		164,865
Retained earnings (accumulated deficit)	41,446		(2,421)		39,025		—		39,025
Accumulated other comprehensive loss	(1,716)		—		(1,716)		—		(1,716)
Total Stockholders’ Equity	204,624		(2,421)		202,203		—		202,203
Total Liabilities and Stockholders’ Equity	$	509,823	$	(2,961)	$	506,862	$	—	$	506,862

The effects of the restatement on the consolidated statement of operations and comprehensive income (loss) for the three months February 28, 2021 are summarized in the following table:


	Three Months Ended February 28, 2021
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Product sales	$	44,690	$	142	$	44,832	$	(17,025)	$	27,807
Cost of product sales	30,249		1,037		31,286		(14,409)		16,877
Gross profit	14,441		(895)		13,546		(2,616)		10,930
Operating costs and expenses:
Research and development	1,843		—		1,843		(206)		1,637
Selling, general and administrative	8,134		1,304		9,438		(2,289)		7,149
Restructuring costs	2,023		48		2,071		—		2,071
Total operating costs and expenses	12,000		1,352		13,352		(2,495)		10,857
Operating income (loss)	2,441		(2,247)		194		(121)		73


Interest income	13		—		13		—		13
Interest expense	(2,939)		377		(2,562)		—		(2,562)
Transition services income	(1,110)		—		(1,110)		—		(1,110)
Other income (expense)	72		233		305		—		305
Net loss from continuing operations before taxes	(1,523)		(1,637)		(3,160)		(121)		(3,281)
Income tax benefit	58		339		397		1,133		1,530
Net loss from continuing operations	(1,465)		(1,298)		(2,763)		1,012		(1,751)

Discontinued operations:
(Loss) gain from discontinued operations	(4,192)		(233)		(4,425)		121		(4,304)
Income tax benefit (provision)	159		51		210		(1,133)		(923)
(Loss) gain from discontinued operations, net of tax	(4,033)		(182)		(4,215)		(1,012)		(5,227)
Consolidated net loss	$	(5,498)	$	(1,480)	$	(6,978)	$	—	$	(6,978)



Basic net (loss) income per share:
Loss from continuing operations	$	(0.05)	$	(0.04)	$	(0.09)	$	0.03	$	(0.06)
Loss from discontinued operations	$	(0.14)	$	(0.01)	$	(0.15)	$	(0.03)	$	(0.18)
Total basic net loss per share	$	(0.19)	$	(0.05)	$	(0.24)	$	—	$	(0.24)

Diluted net (loss) income per share:
Loss from continuing operations	$	(0.05)	$	(0.04)	$	(0.09)	$	0.03	$	(0.06)
Loss from discontinued operations	$	(0.14)	$	(0.01)	$	(0.15)	$	(0.03)	$	(0.18)
Total diluted net loss per share	$	(0.19)	$	(0.05)	$	(0.24)	$	—	$	(0.24)

Shares used in per share computation
Basic	29,323		—		29,323		—		29,323
Diluted	29,323		—		29,323		—		29,323



	Three Months Ended February 28, 2021
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Net loss	$	(5,498)	$	(1,480)	$	(6,978)	$	—	$	(6,978)
Other comprehensive (loss) income, net of tax:
Net unrealized gains on interest rate swaps, net of tax	387		—		387		—		387
Other comprehensive income, net of tax	387		—		387		—		387
Total comprehensive loss	$	(5,111)	$	(1,480)	$	(6,591)	$	—	$	(6,591)

The effects of the restatement on the consolidated statement of operations and comprehensive income (loss) for the nine months February 28, 2021 are summarized in the following table:


	Nine Months Ended February 28, 2021
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Product sales	$	126,629	$	394	$	127,023	$	(52,749)	$	74,274
Cost of product sales	90,739		1,347		92,086		(44,808)		47,278
Gross profit	35,890		(953)		34,937		(7,941)		26,996
Operating costs and expenses:
Research and development	5,523		—		5,523		(555)		4,968
Selling, general and administrative	27,968		1,338		29,306		(7,958)		21,348
Legal settlement charge	1,763		(1,763)		—		—		—
Restructuring costs	2,826		7,011		9,837		—		9,837
Total operating costs and expenses	38,080		6,586		44,666		(8,513)		36,153
Operating (loss) income	(2,190)		(7,539)		(9,729)		572		(9,157)


Interest income	31		—		31		—		31
Interest expense	(6,609)		786		(5,823)		—		(5,823)
Transition services income	(1,110)		—		(1,110)		—		(1,110)
Other income (expense)	64		(10,984)		(10,920)		—		(10,920)
Net (loss) income from continuing operations before taxes	(9,814)		(17,737)		(27,551)		572		(26,979)
Income tax benefit	1,025		3,877		4,902		(127)		4,775
Net (loss) income from continuing operations	(8,789)		(13,860)		(22,649)		445		(22,204)

Discontinued operations:
Loss from discontinued operations	(27,210)		16,205		(11,005)		(572)		(11,577)
Income tax benefit	6,200		(3,557)		2,643		127		2,770
Loss from discontinued operations, net of tax	(21,010)		12,648		(8,362)		(445)		(8,807)
Consolidated net loss	$	(29,799)	$	(1,212)	$	(31,011)	$	—	$	(31,011)



Basic net (loss) income per share:
(Loss) income from continuing operations	$	(0.30)	$	(0.47)	$	(0.77)	$	0.01	$	(0.76)
Loss from discontinued operations	$	(0.72)	$	0.43	$	(0.29)	$	(0.01)	$	(0.30)


Total basic net loss per share	$	(1.02)	$	(0.04)	$	(1.06)	$	—	$	(1.06)

Diluted net (loss) income per share:
(Loss) income from continuing operations	$	(0.30)	$	(0.47)	$	(0.77)	$	0.01	$	(0.76)
Loss from discontinued operations	$	(0.72)	$	0.43	$	(0.29)	$	(0.01)	$	(0.30)
Total diluted net loss per share	$	(1.02)	$	(0.04)	$	(1.06)	$	—	$	(1.06)

Shares used in per share computation
Basic	29,282		—		29,282		—		29,282
Diluted	29,282		—		29,282		—		29,282

	Nine Months Ended February 28, 2021
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations

Net loss	$	(29,799)	$	(1,212)	$	(31,011)	$	—	$	(31,011)
Other comprehensive (loss) income, net of tax:
Net unrealized gains on interest rate swaps, net of tax	1,092		—		1,092		—		1,092
Other comprehensive income, net of tax	1,092		—		1,092		—		1,092
Total comprehensive loss	$	(28,707)	$	(1,212)	$	(29,919)	$	—	$	(29,919)

The effects of the restatement on the consolidated statement of convertible preferred stock and stockholders’ equity (deficit) for the three and nine months ended February 28, 2021 are summarized in the following table:


	Convertible Preferred Stock			Common Stock			Additional Paid-in Capital		Retained Earnings (Accumulated Deficit)		Accumulated Other Comprehensive Loss		Total Stockholders’ Equity
	Shares	Amount		Shares	Amount
As Reported
Balance at May 31, 2020	—	$	—	29,224	$	29	$	162,578	$	71,245	$	(2,808)	$	231,044
Issuance of stock under stock plans	—	—		18	—		—		—		—		—
Taxes paid by Company for employee stock plans	—	—		—	—		(82)		—		—		(82)
Stock-based compensation	—	—		—	—		892		—		—		892
Net loss	—	—		—	—		—		(11,000)		—		(11,000)
Other comprehensive income, net of tax	—	—		—	—		—		—		304		304
Balance at August 30, 2020	—	$	—	29,242	$	29	$	163,388	$	60,245	$	(2,504)	$	221,158
Issuance of stock under stock plans	—	—		81	—		—		—		—		—
Taxes paid by Company for employee stock plans	—	—		—	—		(215)		—		—		(215)
Stock-based compensation	—	—		—	—		895		—		—		895
Net loss	—	—		—	—		—		(13,301)		—		(13,301)
Other comprehensive income, net of tax	—	—		—	—		—		—		401		401
Balance at November 29, 2020	—	$	—	29,323	$	29	$	164,068	$	46,944	$	(2,103)	$	208,938
Stock-based compensation	—	—		—	—		797		—		—		797
Net loss	—	—		—	—		—		(5,498)		—		(5,498)


Other comprehensive income, net of tax	—	—		—	—		—		—		387		387
Balance at February 28, 2021	—	$	—	29,323	$	29	$	164,865	$	41,446	$	(1,716)	$	204,624

Restatements Adjustments
Opening retained earnings (at May 31, 2020)	—	—		—	—		—		(1,209)		—		(1,209)
Net income (loss) at August 30, 2020	—	—		—	—		—		(1,410)		—		(1,410)
Opening retained earnings (at August 30, 2020)	—	—		—	—		—		(2,619)		—		(2,619)
Net income (loss) at November 29, 2020	—	—		—	—		—		1,678		—		1,678
Opening retained earnings (at February 28, 2021)	—	—		—	—		—		(941)		—		(941)
Net income (loss) at February 28, 2021	—	—		—	—		—		(1,480)		—		(1,480)

As Restated
Balance at May 31, 2020	—	$	—	29,224	$	29	$	162,578	$	70,036	$	(2,808)	$	229,835

Issuance of stock under stock plans	—	—		18	—		—		—		—		—
Taxes paid by Company for employee stock plans	—	—		—	—		(82)		—		—		(82)
Stock-based compensation	—	—		—	—		892		—		—		892
Net loss	—	—		—	—		—		(12,410)		—		(12,410)
Other comprehensive income, net of tax	—	—		—	—		—		—		304		304
Balance at August 30, 2020	—	$	—	29,242	$	29	$	163,388	$	57,626	$	(2,504)	$	218,539

Issuance of stock under stock plans	—	—		81	—		—		—		—		—
Taxes paid by Company for employee stock plans	—	—		—	—		(215)		—		—		(215)
Stock-based compensation	—	—		—	—		895		—		—		895
Net loss	—	—		—	—		—		(11,623)		—		(11,623)
Other comprehensive income, net of tax	—	—		—	—		—		—		401		401
Balance at November 29, 2020	—	$	—	29,323	$	29	$	164,068	$	46,003	$	(2,103)	$	207,997

Stock-based compensation	—	—		—	—		797		—		—		797
Net loss	—	—		—	—		—		(6,978)		—		(6,978)
Other comprehensive income, net of tax	—	—		—	—		—		—		387		387
Balance at February 28, 2021	—	$	—	29,323	$	29	$	164,865	$	39,025	$	(1,716)	$	202,203

The effects of the restatement on the consolidated statement of cash flows for the nine months ended February 28, 2021 are summarized in the following table:


	Nine Months Ended February 28, 2021
	As Reported		Restatement Adjustment		As Restated
Cash flows from operating activities:
Net loss	$	(29,799)	$	(1,212)	$	(31,011)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation, amortization of intangibles, debt costs and right-of-use assets	14,808		—		14,808
Loss on debt refinancing	1,110		—		1,110
Stock-based compensation expense	2,584		—		2,584
Provision for expected credit losses	284		—		284
Deferred taxes	(7,307)		(320)		(7,627)
Change in investment in non-public company, fair value	11,800		—		11,800
Net loss on disposal of property and equipment held and used	39		—		39
Loss on disposal of property and equipment related to restructuring, net	7,881		—		7,881
Other, net	(12)		—		(12)


Changes in current assets and current liabilities:
Accounts receivable, net	6,345		—		6,345
Inventory	(10,468)		953		(9,515)
Prepaid expenses and other current assets	350		1,365		1,715
Accounts payable	6,372		—		6,372
Accrued compensation	2,184		—		2,184
Other accrued liabilities	3,186		350		3,536
Deferred revenue	1,243		(350)		893
Net cash provided by operating activities	10,600		786		11,386

Cash flows from investing activities:
Proceeds from sales of property and equipment	12,885		—		12,885
Purchases of property and equipment	(11,383)		(786)		(12,169)

Net cash provided by (used in) investing activities	1,502		(786)		716

Cash flows from financing activities:
Proceeds from long-term debt	150,000		—		150,000
Payments on line of credit	(119,400)		—		(119,400)
Payments on long-term debt	(114,095)		—		(114,095)
Proceeds from line of credit	83,000		—		83,000
Payments for debt issuance costs	(9,615)		—		(9,615)
Taxes paid by Company for employee stock plans	(297)		—		(297)

Net cash used in financing activities	(10,407)		—		(10,407)

Net increase in cash, cash equivalents and restricted cash	1,695		—		1,695
Cash, cash equivalents and restricted cash, beginning of period	553		—		553
Cash, cash equivalents and restricted cash, end of period	$	2,248	$	—	$	2,248

Supplemental disclosure of non-cash investing and financing activities:
Purchases of property and equipment on trade vendor credit	$	1,124	$	—	$	1,124

The effects of this error on our previously reported changes in the Company’s allowance for sales returns and credit losses for the quarter ended February 28, 2021 as presented in the Company’s Quarterly Report on Form 10-Q Note 1, are as follows:


	February 28, 2021
	Balance at beginning of period		Provision (benefit) for expected credit losses	Write offs, net of recoveries	Balance at end of period
Nine months ended February 28, 2021, As Reported	$	186	284	(385)	$	85

Nine months ended February 28, 2021, As Restated	$	186	284	(385)	$	85
Discontinued Operations	$	(186)	(284)	385	$	(85)
Nine months ended February 28, 2021, As Restated, after Discontinued Operations	$	—	—	—	$	—

The effects of this error on our previously reported inventories as of February 28, 2021 as presented in the Company’s Quarterly Report on Form 10-Q Note 1, are as follows:


	February 28, 2021
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Finished goods	$	41,533	$	(5)	$	41,528	$	(28,877)	$	12,651
Raw materials	26,855		(863)		25,992		(14,983)		11,009
Work in progress	8,391		(605)		7,786		(5)		7,781
Total inventories	$	76,779	$	(1,473)	$	75,306	$	(43,865)	$	31,441

The effects of this error on our previously reported basic and diluted net loss per share for the three and nine months ended February 28, 2021 as presented in the Company’s Quarterly Report on Form 10-Q Note 1, are as follows:


	Three Months Ended February 28, 2021
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Numerator:
Net loss applicable to Common Stockholders	$	(5,498)	$	(1,480)	$	(6,978)	$	—	$	(6,978)

Denominator:
Weighted average shares for basic net income per share	29,323		—		29,323		—		29,323



Weighted average shares for diluted net income per share	29,323		—		29,323		—		29,323

Diluted net loss per share	$	(0.19)	$	(0.05)	$	(0.24)	$	—	$	(0.24)


	Nine Months Ended February 28, 2021
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Numerator:
Net loss applicable to Common Stockholders	$	(29,799)	$	(1,212)	$	(31,011)	$	—	$	(31,011)

Denominator:
Weighted average shares for basic net income per share	29,282		—		29,282		—		29,282



Weighted average shares for diluted net income per share	29,282		—		29,282		—		29,282

Diluted net loss per share	$	(1.02)	$	(0.04)	$	(1.06)	$	—	$	(1.06)

The effects of this error on our previously reported disaggregated revenue for the three months ended February 28, 2021 as presented in the Company’s Quarterly Report on Form 10-Q Note 1, are as follows:


	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Contact development and manufacturing organization	$	18,628	$	142	$	18,770	$	—	$	18,770
Fermentation	8,597		—		8,597		—		8,597

Total	$	27,225	$	142	$	27,367	$	—	$	27,367

	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Avocado Products	$	15,378	$	—	$	15,378	$	(15,378)	$	—
Olive oil and vinegars	1,647		—		1,647		(1,647)		—
Technology	440		—		440		—		440
Total	$	17,465	$	—	$	17,465	$	(17,025)	$	440

The effects of this error on our previously reported disaggregated revenue for the nine months ended February 28, 2021 as presented in the Company’s Quarterly Report on Form 10-Q Note 1, are as follows:


	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Contact development and manufacturing organization	$	53,374	$	394	$	53,768	$	—	$	53,768
Fermentation	18,874		—		18,874		—		18,874

Total	$	72,248	$	394	$	72,642	$	—	$	72,642

	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Avocado Products	$	47,107	$	—	$	47,107	$	(47,107)	$	—
Olive oil and vinegars	5,642		—		5,642		(5,642)		—
Technology	1,632		—		1,632		—		1,632
Total	$	54,381	$	—	$	54,381	$	(52,749)	$	1,632

The effects of this error on our previously reported segment reporting for the three months ended February 28, 2021 as presented in the Company’s Quarterly Report on Form 10-Q Note 7, are as follows.

The segment table below has been restated to reflect the correction of accounting errors within the consolidated financial statements for the three months ended February 28, 2021. Refer to Note 14 for the related income statement line items reported in the segment table of the Company after giving effect to the discontinued operations previously reported under the Curation segment. The Company disclosed Other to reconcile the segment information to the consolidated financial statements.


	Three Months Ended February 28, 2021
(in thousands)	Lifecore		Curation Foods		Other		Total
Three Months Ended February 28, 2021, As Reported
Net sales	$	27,225	$	17,465	$	—	$	44,690
Gross profit	11,561		2,880		—		14,441
Net income (loss) from continuing operations	5,104		(394)		(6,175)		(1,465)
Loss from discontinued operations, net of tax	—		(4,033)		—		(4,033)
Depreciation and amortization	1,385		830		22		2,237
Interest income	—		—		13		13
Interest expense	—		136		2,803		2,939
Income tax (benefit) expense, continuing operations	1,612		(1,614)		(56)		(58)
Corporate overhead allocation	1,102		87		(1,189)		—

Restatement Adjustments
Net sales	142		—		—		142
Gross profit	(895)		—		—		(895)
Net income (loss) from continuing operations	(14)		(2,340)		1,056		(1,298)
Loss from discontinued operations, net of tax	—		(182)		—		(182)
Interest expense	—		—		(377)		(377)
Income tax (benefit) expense, continuing operations	(881)		1,221		(679)		(339)






Three Months Ended February 28, 2021, As Restated
Net sales	$	27,367	$	17,465	$	—	$	44,832
Gross profit	10,666		2,880		—		13,546
Net income (loss) from continuing operations	5,090		(2,734)		(5,119)		(2,763)
Loss from discontinued operations, net of tax	—		(4,215)		—		(4,215)
Depreciation and amortization	1,385		830		22		2,237
Interest income	—		—		13		13
Interest expense	—		136		2,426		2,562
Income tax (benefit) expense, continuing operations	731		(393)		(735)		(397)
Corporate overhead allocation	1,102		87		(1,189)		—

The effects of this error on our previously reported segment reporting for the nine months ended February 28, 2021 as presented in the Company’s Quarterly Report on Form 10-Q Note 7, are as follows.

The segment table below has been restated to reflect the correction of accounting errors within the consolidated financial statements for the nine months ended February 28, 2021. Refer to Note 14 for the related income statement line items


	Nine Months Ended February 28, 2021
(in thousands)	Lifecore		Curation Foods		Other		Total
Nine Months Ended February 28, 2021, As Reported
Net sales	$	72,248	$	54,381	$	—	$	126,629
Gross profit	27,036		8,854		—		35,890
Net income (loss) from continuing operations	9,708		(1,346)		(17,151)		(8,789)
Loss from discontinued operations, net of taxes	—		(21,010)		—		(21,010)

Depreciation and amortization	4,055		2,451		76		6,582
Interest income	—		—		31		31
Interest expense	—		410		6,199		6,609
Income tax (benefit) expense, continuing operations	3,066		(2,095)		(1,996)		(1,025)
Corporate overhead allocation	3,668		621		(4,289)		—

Restatement Adjustments
Net sales	394		—		—		394
Gross profit	(953)		—		—		(953)
Net (loss) income	10		(15,927)		2,057		(13,860)
Loss from discontinued operations, net of taxes	—		12,648		—		12,648
Interest expense	—		—		(786)		(786)
Income tax (benefit) expense, continuing operations	(963)		(1,643)		(1,271)		(3,877)






Nine Months Ended February 28, 2021, As Restated
Net sales	$	72,642	$	54,381	$	—	$	127,023
Gross profit	26,083		8,854		—		34,937
Net income (loss) from continuing operations	9,718		(17,273)		(15,094)		(22,649)
Loss from discontinued operations, net of taxes	—		(8,362)		—		(8,362)

Depreciation and amortization	4,055		2,451		76		6,582
Interest income	—		—		31		31
Interest expense	—		410		5,413		5,823
Income tax (benefit) expense, continuing operations	2,103		(3,738)		(3,267)		(4,902)
Corporate overhead allocation	3,668		621		(4,289)		—

The effects of this error on our previously reported restructuring cost for the three months ended February 28, 2021 as presented in the Company’s Quarterly Report on Form 10-Q Note 8, are as follows:


	Three Months Ended February 28, 2021
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Asset write-off costs	$	1,897	$	(20)	$	1,877	$	—	$	1,877
Employee severance and benefit costs	—		65		65		—		65

Other restructuring costs	126		3		129		—		129
Total restructuring costs	$	2,023	$	48	$	2,071	$	—	$	2,071


	Three Months Ended February 28, 2021
	Curation		Other		Total
Total restructuring costs, As reported	$	1,908	$	115	$	2,023
Restatement adjustments	48		—		48
Total restructuring costs, As restated	$	1,956	$	115	$	2,071

The effects of this error on our previously reported restructuring cost for the nine months ended February 28, 2021 as presented in the Company’s Quarterly Report on Form 10-Q Note 8, are as follows:


	Nine Months Ended February 28, 2021
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Asset write-off costs	$	1,897	$	5,985	$	7,882	$	—	$	7,882
Employee severance and benefit costs	—		116		116		—		116

Other restructuring costs	929		910		1,839		—		1,839
Total restructuring costs	$	2,826	$	7,011	$	9,837	$	—	$	9,837


	Nine Months Ended February 28, 2021
	Curation		Other		Total
Total restructuring costs, As reported	$	1,908	$	918	$	2,826
Restatement adjustments	7,011		—		7,011
Total restructuring costs, As restated	$	8,919	$	918	$	9,837

As of and for the three and six months ended November 29, 2020

The effects of the restatement on the consolidated balance sheet as of November 29, 2020 are summarized in the following table:


	November 29, 2020
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
ASSETS
Current Assets:
Cash and cash equivalents	$	2,491	$	—	$	2,491	$	(15)	$	2,476
Accounts receivable, less allowance for doubtful accounts	66,545		—		66,545		(36,945)		29,600
Inventories	71,202		(578)		70,624		(38,220)		32,404
Prepaid expenses and other current assets	13,949		(1,780)		12,169		(5,374)		6,795
Current assets, discontinued operations	—		—		—		80,554		80,554
Total Current Assets	154,187		(2,358)		151,829		—		151,829

Investment in non-public company, fair value	45,100		—		45,100		—		45,100
Property and equipment, net	170,973		1,267		172,240		(77,252)		94,988
Operating lease right-of-use assets	21,070		—		21,070		(8,379)		12,691
Goodwill	69,386		—		69,386		(55,505)		13,881
Trademarks/tradenames, net	25,328		—		25,328		(21,128)		4,200
Customer relationships, net	11,784		—		11,784		(11,348)		436
Other assets	1,332		—		1,332		(200)		1,132
Non-current assets, discontinued operations	—		—		—		173,812		173,812
Total Assets	$	499,160	$	(1,091)	$	498,069	$	—	$	498,069

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities:
Accounts payable	$	60,892	$	—	$	60,892	$	(52,907)	$	7,985
Accrued compensation	7,689		—		7,689		(3,561)		4,128
Other accrued liabilities	12,715		(36)		12,679		(6,564)		6,115
Current portion of lease liabilities	3,785		—		3,785		(3,075)		710
Deferred revenue	644		—		644		(347)		297
Line of credit	77,000		—		77,000		—		77,000
Current portion of long-term debt	11,189		—		11,189		—		11,189
Current Liabilities, discontinued operations	—		—		—		66,454		66,454
Total Current Liabilities	173,914		(36)		173,878		—		173,878

Long-term debt, net	82,000		—		82,000		—		82,000
Long-term lease liabilities	22,206		—		22,206		(6,731)		15,475
Deferred taxes, net	6,745		(114)		6,631		—		6,631
Other non-current liabilities	5,357		—		5,357		(1,333)		4,024
Non-current liabilities, discontinued operations	—		—		—		8,064		8,064
Total Liabilities	290,222		(150)		290,072		—		290,072

Stockholders’ Equity:


Common stock	29		—		29		$	—	29
Additional paid-in capital	164,068		—		164,068		—		164,068
Retained earnings (accumulated deficit)	46,944		(941)		46,003		—		46,003
Accumulated other comprehensive loss	(2,103)		—		(2,103)		—		(2,103)
Total Stockholders’ Equity	208,938		(941)		207,997		—		207,997
Total Liabilities and Stockholders’ Equity	$	499,160	$	(1,091)	$	498,069	$	—	$	498,069

The effects of the restatement on the consolidated statement of operations and comprehensive income (loss) for the three months November 29, 2020 are summarized in the following table:


	Three Months Ended November 29, 2020
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Product sales	$	130,904	$	24	$	130,928	$	(107,136)	$	23,792
Cost of product sales	110,267		(18)		110,249		(97,231)		13,018
Gross profit	20,637		42		20,679		(9,905)		10,774
Operating costs and expenses:
Research and development	2,572		—		2,572		(981)		1,591
Selling, general and administrative	16,106		—		16,106		(9,396)		6,710
Legal settlement charge	1,763		(1,763)		—		—		—
Restructuring costs	1,662		—		1,662		(563)		1,099
Total operating costs and expenses	22,103		(1,763)		20,340		(10,940)		9,400
Operating (loss) income	(1,466)		1,805		339		1,035		1,374

Dividend income	281		—		281		(281)		—
Interest income	10		—		10		—		10
Interest expense	(3,039)		204		(2,835)		1,239		(1,596)
Other (expense) income	(11,787)		1,800		(9,987)		281		(9,706)
Net (loss) income from continuing operations before taxes	(16,001)		3,809		(12,192)		2,274		(9,918)
Income tax benefit (expense)	2,700		(731)		1,969		(441)		1,528
Net (loss) income from continuing operations	(13,301)		3,078		(10,223)		1,833		(8,390)

Discontinued operations:
Loss from discontinued operations	—		(1,763)		(1,763)		(2,274)		(4,037)
Income tax benefit	—		363		363		441		804
Loss from discontinued operations, net of tax	—		(1,400)		(1,400)		(1,833)		(3,233)
Consolidated net (loss) income	$	(13,301)	$	1,678	$	(11,623)	$	—	$	(11,623)



Basic net (loss) income per share:
(Loss) income from continuing operations	$	(0.45)	$	0.10	$	(0.35)	$	0.06	$	(0.29)
Loss from discontinued operations	$	—	$	(0.05)	$	(0.05)	$	(0.06)	$	(0.11)
Total basic net (loss) income per share	$	(0.45)	$	0.05	$	(0.40)	$	—	$	(0.40)

Diluted net (loss) income per share:
(Loss) income from continuing operations	$	(0.45)	$	0.10	$	(0.35)	$	0.06	$	(0.29)
Loss from discontinued operations	$	—	$	(0.05)	$	(0.05)	$	(0.06)	$	(0.11)
Total diluted net (loss) income per share	$	(0.45)	$	0.05	$	(0.40)	$	—	$	(0.40)



Shares used in per share computation
Basic	29,280		—		29,280		—		29,280
Diluted	29,280		—		29,280		—		29,280

	Three Months Ended November 29, 2020
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Net (loss) income	$	(13,301)	$	1,678	$	(11,623)	$	—	$	(11,623)
Other comprehensive (loss) income, net of tax:
Net unrealized gains on interest rate swaps, net of tax	401		—		401		—		401
Other comprehensive income, net of tax	401		—		401		—		401
Total comprehensive (loss) income	$	(12,900)	$	1,678	$	(11,222)	$	—	$	(11,222)

The effects of the restatement on the consolidated statement of operations and comprehensive income (loss) for the six months November 29, 2020 are summarized in the following table:


	Six Months Ended November 29, 2020
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Product sales	$	266,547	$	252	$	266,799	$	(220,331)	$	46,468
Cost of product sales	229,564		310		229,874		(199,473)		30,401
Gross profit	36,983		(58)		36,925		(20,858)		16,067
Operating costs and expenses:
Research and development	5,080		—		5,080		(1,750)		3,330
Selling, general and administrative	34,009		34		34,043		(19,843)		14,200
Legal settlement charge	1,763		(1,763)		—		—		—
Restructuring costs	10,066		—		10,066		(2,300)		7,766
Total operating costs and expenses	50,918		(1,729)		49,189		(23,893)		25,296
Operating (loss) income	(13,935)		1,671		(12,264)		3,035		(9,229)

Dividend income	563		—		563		(563)		—
Interest income	18		—		18		—		18
Interest expense	(6,148)		409		(5,739)		2,478		(3,261)
Other (expense) income	(11,808)		21		(11,787)		562		(11,225)
Net (loss) income from continuing operations before taxes	(31,310)		2,101		(29,209)		5,512		(23,697)
Income tax benefit (expense)	7,009		(433)		6,576		(1,260)		5,316
Net (loss) income from continuing operations	(24,301)		1,668		(22,633)		4,252		(18,381)

Discontinued operations:
Loss from discontinued operations	—		(1,763)		(1,763)		(5,512)		(7,275)
Income tax benefit	—		363		363		1,260		1,623
Loss from discontinued operations, net of tax	—		(1,400)		(1,400)		(4,252)		(5,652)
Consolidated net (loss) income	$	(24,301)	$	268	$	(24,033)	$	—	$	(24,033)



Basic net (loss) income per share:
(Loss) income from continuing operations	$	(0.83)	$	0.06	$	(0.77)	$	0.14	$	(0.63)
Loss from discontinued operations	$	—	$	(0.05)	$	(0.05)	$	(0.14)	$	(0.19)
Total basic net (loss) income per share	$	(0.83)	$	0.01	$	(0.82)	$	—	$	(0.82)

Diluted net (loss) income per share:
(Loss) income from continuing operations	$	(0.83)	$	0.06	$	(0.77)	$	0.14	$	(0.63)
Loss from discontinued operations	$	—	$	(0.05)	$	(0.05)	$	(0.14)	$	(0.19)
Total diluted net (loss) income per share	$	(0.83)	$	0.01	$	(0.82)	$	—	$	(0.82)

Shares used in per share computation
Basic	29,261		—		29,261		—		29,261
Diluted	29,261		—		29,261		—		29,261

	Six Months Ended November 29, 2020
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations

Net (loss) income	$	(24,301)	$	268	$	(24,033)	$	—	$	(24,033)
Other comprehensive (loss) income, net of tax:
Net unrealized gains on interest rate swaps, net of tax	705		—		705		—		705
Other comprehensive income, net of tax	705		—		705		—		705
Total comprehensive (loss) income	$	(23,596)	$	268	$	(23,328)	$	—	$	(23,328)

The effects of the restatement on the consolidated statement of convertible preferred stock and stockholders’ equity (deficit) for the six months ended November 29, 2020 are summarized in the following table:


	Convertible Preferred Stock			Common Stock			Additional Paid-in Capital		Retained Earnings (Accumulated Deficit)		Accumulated Other Comprehensive Loss		Total Stockholders’ Equity
	Shares	Amount		Shares	Amount
As Reported
Balance at May 31, 2020	—	$	—	29,224	$	29	$	162,578	$	71,245	$	(2,808)	$	231,044
Issuance of stock under stock plans	—	—		18	—		—		—		—		—
Taxes paid by Company for employee stock plans	—	—		—	—		(82)		—		—		(82)
Stock-based compensation	—	—		—	—		892		—		—		892
Net loss	—	—		—	—		—		(11,000)		—		(11,000)
Other comprehensive income, net of tax	—	—		—	—		—		—		304		304
Balance at August 30, 2020	—	$	—	29,242	$	29	$	163,388	$	60,245	$	(2,504)	$	221,158
Issuance of stock under stock plans	—	—		81	—		—		—		—		—
Taxes paid by Company for employee stock plans	—	—		—	—		(215)		—		—		(215)
Stock-based compensation	—	—		—	—		895		—		—		895
Net loss	—	—		—	—		—		(13,301)		—		(13,301)
Other comprehensive income, net of tax	—	—		—	—		—		—		401		401
Balance at November 29, 2020	—	$	—	29,323	$	29	$	164,068	$	46,944	$	(2,103)	$	208,938

Restatements Impacts
Opening retained earnings (at May 31, 2020)	—	—		—	—		—		(1,209)		—		(1,209)
Net income (loss) at August 30, 2020	—	—		—	—		—		(1,410)		—		(1,410)
Opening retained earnings (at August 30, 2020)	—	—		—	—		—		(2,619)		—		(2,619)
Net income (loss) at November 29, 2020	—	—		—	—		—		1,678		—		1,678

As Restated
Balance at May 31, 2020	—	$	—	29,224	$	29	$	162,578	$	70,036	$	(2,808)	$	229,835

Issuance of stock under stock plans	—	—		18	—		—		—		—		—
Taxes paid by Company for employee stock plans	—	—		—	—		(82)		—		—		(82)
Stock-based compensation	—	—		—	—		892		—		—		892
Net loss	—	—		—	—		—		(12,410)		—		(12,410)
Other comprehensive income, net of tax	—	—		—	—		—		—		304		304
Balance at August 30, 2020	—	$	—	29,242	$	29	$	163,388	$	57,626	$	(2,504)	$	218,539

Issuance of stock under stock plans	—	—		81	—		—		—		—		—
Taxes paid by Company for employee stock plans	—	—		—	—		(215)		—		—		(215)
Stock-based compensation	—	—		—	—		895		—		—		895
Net loss	—	—		—	—		—		(11,623)		—		(11,623)
Other comprehensive income, net of tax	—	—		—	—		—		—		401		401
Balance at November 29, 2020	—	$	—	29,323	$	29	$	164,068	$	46,003	$	(2,103)	$	207,997

The effects of the restatement on the consolidated statement of cash flows for the six months ended November 29, 2020 are summarized in the following table:


	Six Months Ended November 29, 2020
	As Reported		Restatement Adjustment		As Restated
Cash flows from operating activities:
Net (loss) income	$	(24,301)	$	268	$	(24,033)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation, amortization of intangibles and amortization of debt costs	9,826		—		9,826
Stock-based compensation expense	1,787		—		1,787
Deferred taxes	(7,070)		70		(7,000)
Change in investment in non-public company, fair value	11,800		—		11,800
Net gain on disposal of property and equipment held and used	(34)		—		(34)
Loss on disposal of property and equipment related to restructuring, net	6,005		—		6,005
Other, net	21		—		21


Changes in current assets and current liabilities:
Accounts receivable, net	9,661		—		9,661
Inventory	(4,891)		58		(4,833)
Prepaid expenses and other current assets	1,539		13		1,552
Accounts payable	10,539		—		10,539
Accrued compensation	(1,345)		—		(1,345)
Other accrued liabilities	4,627		—		4,627
Deferred revenue	292		—		292
Net cash provided by operating activities	18,456		409		18,865

Cash flows from investing activities:
Proceeds from sales of property and equipment	12,885		—		12,885
Purchases of property and equipment	(7,407)		(409)		(7,816)

Net cash provided by (used in) investing activities	5,478		(409)		5,069

Cash flows from financing activities:
Taxes paid by Company for employee stock plans	(297)		—		(297)
Payments on long-term debt	(20,062)		—		(20,062)
Proceeds from line of credit	24,000		—		24,000
Payments on line of credit	(24,400)		—		(24,400)
Payments for debt issuance costs	(1,237)		—		(1,237)


Net cash used in financing activities	(21,996)		—		(21,996)

Net increase in cash, cash equivalents and restricted cash	1,938		—		1,938
Cash, cash equivalents and restricted cash, beginning of period	553		—		553
Cash, cash equivalents and restricted cash, end of period	$	2,491	$	—	$	2,491

Supplemental disclosure of non-cash investing and financing activities:
Purchases of property and equipment on trade vendor credit	$	1,526	$	—	$	1,526

The effects of this error on our previously reported changes in the Company’s allowance for sales returns and credit losses for the quarter ended November 29, 2020 as presented in the Company’s Quarterly Report on Form 10-Q Note 1, are as follows:


	November 29, 2020
	Balance at beginning of period		Provision (benefit) for expected credit losses		Write offs, net of recoveries		Balance at end of period
Six months ended November 29, 2020, As Reported	$	438	$	102	$	(263)	$	277
Restatement Adjustment	$	—	—		—		$	—
Six months ended November 29, 2020, As Restated	$	438	102		(263)		$	277
Discontinued Operations	$	(438)	(102)		263		$	(277)
Six months ended November 29, 2020, As Restated, after Discontinued Operations	$	—	$	—	$	—	$	—

The effects of this error on our previously reported inventories as of November 29, 2020 as presented in the Company’s Quarterly Report on Form 10-Q Note 1, are as follows:


	November 29, 2020
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Finished goods	$	36,325	$	11	$	36,336	$	(21,674)	$	14,662
Raw materials	26,983		(371)		26,612		(16,494)		10,118
Work in progress	7,894		(218)		7,676		(52)		7,624
Total inventories	$	71,202	$	(578)	$	70,624	$	(38,220)	$	32,404

The effects of this error on our previously reported basic and diluted net loss per share for the three and six months ended November 29, 2020 as presented in the Company’s Quarterly Report on Form 10-Q Note 1, are as follows:


	Three Months Ended November 29, 2020
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Numerator:
Net (loss) income applicable to Common Stockholders	$	(13,301)	$	1,678	$	(11,623)	$	—	$	(11,623)

Denominator:
Weighted average shares for basic net income per share	29,280		—		29,280		—		29,280



Weighted average shares for diluted net income per share	29,280		—		29,280		—		29,280

Diluted net (loss) income per share	$	(0.45)	$	0.05	$	(0.40)	$	—	$	(0.40)


	Six Months Ended November 29, 2020
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Numerator:
Net (loss) income applicable to Common Stockholders	$	(24,301)	$	268	$	(24,033)	$	—	$	(24,033)

Denominator:
Weighted average shares for basic net income per share	29,261		—		29,261		—		29,261



Weighted average shares for diluted net income per share	29,261		—		29,261		—		29,261

Diluted net (loss) income per share	$	(0.83)	$	0.01	$	(0.82)	$	—	$	(0.82)

The effects of this error on our previously reported disaggregated revenue for the three months ended November 29, 2020 as presented in the Company’s Quarterly Report on Form 10-Q Note 1, are as follows:


	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Contact development and manufacturing organization	$	18,259	$	24	$	18,283	$	—	$	18,283
Fermentation	4,960		—		4,960		—		4,960
Total	$	23,219	$	24	$	23,243	$	—	$	23,243

	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Fresh packaged salads and vegetables	$	92,423	$	—	$	92,423	$	(92,423)	$	—
Avocado products	14,713		—		14,713		(14,713)		—
Technology	549		—		549		—		549
Total	$	107,685	$	—	$	107,685	$	(107,136)	$	549

The effects of this error on our previously reported disaggregated revenue for the six months ended November 29, 2020 as presented in the Company’s Quarterly Report on Form 10-Q Note 1, are as follows:


	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Contact development and manufacturing organization	$	34,747	$	252	$	34,999	$	—	$	34,999
Fermentation	10,277		—		10,277		—		10,277
Total	$	45,024	$	252	$	45,276	$	—	$	45,276

	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Fresh packaged salads and vegetables	$	188,601	$	—	$	188,601	$	(188,601)	$	—
Avocado products	31,730		—		31,730		(31,730)		—
Technology	1,192		—		1,192		—		1,192
Total	$	221,523	$	—	$	221,523	$	(220,331)	$	1,192

The effects of this error on our previously reported segment reporting for the three months ended November 29, 2020 as presented in the Company’s Quarterly Report on Form 10-Q Note 7, are as follows.

The segment table below has been restated to reflect the correction of accounting errors within the consolidated financial statements for the three months ended November 29, 2020. Refer to Note 14 for the related income statement line items reported in the segment table of the Company after giving effect to the discontinued operations previously reported under the Curation segment. The Company disclosed Other to reconcile the segment information to the consolidated financial statements.


	Three Months Ended November 29, 2020
(in thousands)	Lifecore		Curation Foods		Other		Total
Three Months Ended November 29, 2020, As Reported
Net sales	$	23,219	$	107,685	$	—	$	130,904
Gross profit	10,474		10,163		—		20,637
Net income (loss) from continuing operations	4,492		(12,383)		(5,410)		(13,301)

Depreciation and amortization	1,360		2,906		26		4,292
Dividend Income	—		281		—		281
Interest income	—		—		10		10
Interest expense	—		1,376		1,663		3,039
Income tax (benefit) expense, continuing operations	1,419		(3,911)		(208)		(2,700)
Corporate overhead allocation	1,162		1,402		(2,564)		—

Restatement Adjustments
Net sales	24		—		—		24
Gross profit	42		—		—		42
Net (loss) income	500		1,708		870		3,078
Loss from discontinued operations	—		(1,400)		—		(1,400)
Interest expense	—		—		(204)		(204)
Income tax (benefit) expense, continuing operations	(458)		1,855		(666)		731






Three Months Ended November 29, 2020, As Restated
Net sales	$	23,243	$	107,685	$	—	$	130,928
Gross profit	10,516		10,163		—		20,679
Net income (loss) from continuing operations	4,992		(10,675)		(4,540)		(10,223)
Loss from discontinued operations	$	—	$	(1,400)	$	—	(1,400)
Depreciation and amortization	1,360		2,906		26		4,292
Dividend Income	—		281		—		281
Interest income	—		—		10		10
Interest expense	—		1,376		1,459		2,835
Income tax (benefit) expense, continuing operations	961		(2,056)		(874)		(1,969)
Corporate overhead allocation	1,162		1,402		(2,564)		—

The effects of this error on our previously reported segment reporting for the six months ended November 29, 2020 as presented in the Company’s Quarterly Report on Form 10-Q Note 7, are as follows.

The segment table below has been restated to reflect the correction of accounting errors within the consolidated financial statements for the six months ended November 29, 2020. Refer to Note 14 for the related income statement line items


	Six Months Ended November 29, 2020
(in thousands)	Lifecore		Curation Foods		Other		Total
Six Months Ended November 29, 2020, As Reported
Net sales	$	45,024	$	221,523	$	—	$	266,547
Gross profit	15,476		21,507		—		36,983
Net income (loss) from continuing operations	4,604		(20,654)		(8,251)		(24,301)
Loss from discontinued operations	—		—		—		—
Depreciation and amortization	2,669		6,316		54		9,039
Dividend Income	—		563		—		563
Interest income	—		—		18		18
Interest expense	—		2,751		3,397		6,148
Income tax (benefit) expense, continuing operations	1,454		(6,523)		(1,940)		(7,009)
Corporate overhead allocation	2,565		3,258		(5,823)		—

Restatement Adjustments
Net sales	252		—		—		252
Gross profit	(58)		—		—		(58)
Net income (loss) from continuing operations	45		953		670		1,668
Loss from discontinued operations	—		(1,400)		—		(1,400)
Interest expense	—		—		(409)		(409)
Income tax (benefit) expense, continuing operations	(103)		797		(261)		433






Six Months Ended November 29, 2020, As Restated
Net sales	45,276		221,523		—		266,799
Gross profit	15,418		21,507		—		36,925
Net income (loss) from continuing operations	4,649		(19,701)		(7,581)		(22,633)
Loss from discontinued operations	$	—	$	(1,400)	$	—	(1,400)
Depreciation and amortization	2,669		6,316		54		9,039
Dividend Income	—		563		—		563
Interest income	—		—		18		18
Interest expense	—		2,751		2,988		5,739
Income tax (benefit) expense, continuing operations	1,351		(5,726)		(2,201)		(6,576)
Corporate overhead allocation	2,565		3,258		(5,823)		—

The effects of this error on our previously reported restructuring cost for the three months ended November 29, 2020 as presented in the Company’s Quarterly Report on Form 10-Q Note 8, are as follows:


	Three Months Ended November 29, 2020
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations

Employee severance and benefit costs	211		—		211		(160)		51

Other restructuring costs	1,451		—		1,451		(403)		1,048
Total restructuring costs	$	1,662	$	—	$	1,662	$	(563)	$	1,099


	Three Months Ended November 29, 2020
	Curation		Other		Total
Total restructuring costs, As reported	$	1,506	$	156	$	1,662
Discontinued Operations adjustments	(563)		—		(563)
Total restructuring costs, As restated	$	943	$	156	$	1,099

The effects of this error on our previously reported restructuring cost for the six months ended November 29, 2020 as presented in the Company’s Quarterly Report on Form 10-Q Note 8, are as follows:


	Six Months Ended November 29, 2020
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Asset write-off costs	$	6,005	$	—	$	6,005	$	—	$	6,005
Employee severance and benefit costs	1,115		—		1,115		(1,064)		51

Other restructuring costs	2,946		—		2,946		(1,236)		1,710
Total restructuring costs	$	10,066	$	—	$	10,066	$	(2,300)	$	7,766


	Six Months Ended November 29, 2020
	Curation		Other		Total
Total restructuring costs, As reported	$	9,263	$	803	$	10,066
Discontinued Operations adjustments	(2,300)		—		(2,300)
Total restructuring costs, As restated	$	6,963	$	803	$	7,766

As of and for the three months ended August 30, 2020

The effects of the restatement on the consolidated balance sheet as of August 30, 2020 are summarized in the following table:


	August 30, 2020
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
ASSETS
Current Assets:
Cash and cash equivalents	$	589	$	—	$	589	$	(150)	$	439
Accounts receivable, less allowance for doubtful accounts	65,027		—		65,027		(37,855)		27,172
Inventories	59,998		(620)		59,378		(30,469)		28,909
Prepaid expenses and other current assets	21,753		(1,780)		19,973		(6,039)		13,934
Current assets, discontinued operations	—		—		—		74,513		74,513
Total Current Assets	147,367		(2,400)		144,967		—		144,967

Investment in non-public company, fair value	56,900		(1,800)		55,100		—		55,100
Property and equipment, net	171,413		1,063		172,476		(78,712)		93,764
Operating lease right-of-use assets	22,109		—		22,109		(8,750)		13,359
Goodwill	69,386		—		69,386		(55,505)		13,881
Trademarks/tradenames, net	25,328		—		25,328		(21,128)		4,200
Customer relationships, net	12,281		—		12,281		(11,767)		514
Other assets	1,396		—		1,396		(203)		1,193
Non-current assets, discontinued operations	—		—		—		176,065		176,065
Total Assets	$	506,180	$	(3,137)	$	503,043	$	—	$	503,043

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities:
Accounts payable	$	50,722	$	—	50,722		$	(44,371)	6,351
Accrued compensation	8,895		—		8,895		(4,921)		3,974
Other accrued liabilities	9,607		(36)		9,571		(5,902)		3,669
Current portion of lease liabilities	4,001		—		4,001		(3,290)		711
Deferred revenue	477		—		477		(477)		—
Line of credit	69,000		—		69,000		—		69,000
Current portion of long-term debt	11,027		—		11,027		—		11,027
Current Liabilities, discontinued operations	—		—		—		58,961		58,961
Total Current Liabilities	153,729		(36)		153,693		—		153,693

Long-term debt, net	93,919		—		93,919		—		93,919
Long-term lease liabilities	23,018		—		23,018		(7,002)		16,016
Deferred taxes, net	9,359		(482)		8,877		—		8,877
Other non-current liabilities	4,997		—		4,997		(859)		4,138
Non-current liabilities, discontinued operations	—		—		—		7,861		7,861
Total Liabilities	285,022		(518)		284,504		—		284,504

Stockholders’ Equity:


Common stock	$	29	$	—	29		$	—	29
Additional paid-in capital	163,388		—		163,388		—		163,388
Retained earnings (Accumulated deficit)	60,245		(2,619)		57,626		—		57,626
Accumulated other comprehensive loss	(2,504)		—		(2,504)		—		(2,504)
Total Stockholders’ Equity	221,158		(2,619)		218,539		—		218,539
Total Liabilities and Stockholders’ Equity	$	506,180	$	(3,137)	$	503,043	$	—	$	503,043

The effects of the restatement on the consolidated statement of operations and comprehensive income (loss) for the three months August 30, 2020 are summarized in the following table:


	Three Months Ended August 30, 2020
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Product sales	$	135,643	$	228	$	135,871	$	(113,196)	$	22,675
Cost of product sales	119,296		328		119,624		(102,243)		17,381
Gross profit	16,347		(100)		16,247		(10,953)		5,294
Operating costs and expenses:
Research and development	2,508		—		2,508		(769)		1,739
Selling, general and administrative	17,903		34		17,937		(10,447)		7,490
Restructuring costs	8,404		—		8,404		(1,737)		6,667
Total operating costs and expenses	28,815		34		28,849		(12,953)		15,896
Operating (loss) income	(12,468)		(134)		(12,602)		2,000		(10,602)

Dividend income	281		—		281		(281)		—
Interest income	8		—		8		—		8
Interest expense	(3,109)		205		(2,904)		1,239		(1,665)
Other expense	(21)		(1,779)		(1,800)		281		(1,519)
Net (loss) income from continuing operations before taxes	(15,309)		(1,708)		(17,017)		3,239		(13,778)
Income tax benefit (expense)	4,309		298		4,607		(819)		3,788
Net (loss) income from continuing operations	(11,000)		(1,410)		(12,410)		2,420		(9,990)

Discontinued operations:
Loss from discontinued operations	—		—		—		(3,239)		(3,239)
Income tax benefit	—		—		—		819		819
Loss from discontinued operations, net of tax	—		—		—		(2,420)		(2,420)
Consolidated net loss	$	(11,000)	$	(1,410)	$	(12,410)	$	—	$	(12,410)



Basic net (loss) income per share:
(Loss) income from continuing operations	$	(0.38)	$	(0.04)	$	(0.42)	$	0.08	$	(0.34)
Loss from discontinued operations	$	—	$	—	$	—	$	(0.08)	$	(0.08)
Total basic net loss per share	$	(0.38)	$	(0.04)	$	(0.42)	$	—	$	(0.42)

Diluted net (loss) income per share:
(Loss) income from continuing operations	$	(0.38)	$	(0.04)	$	(0.42)	$	0.08	$	(0.34)
Loss from discontinued operations	$	—	$	—	$	—	$	(0.08)	$	(0.08)
Total diluted net loss per share	$	(0.38)	$	(0.04)	$	(0.42)	$	—	$	(0.42)


Shares used in per share computation
Basic	29,242		—		29,242		—		29,242
Diluted	29,242		—		29,242		—		29,242

	Three Months Ended August 30, 2020
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Net loss	$	(11,000)	$	(1,410)	$	(12,410)	$	—	$	(12,410)
Other comprehensive (loss) income, net of tax:
Net unrealized gains on interest rate swaps, net of tax	304		—		304		—		304
Other comprehensive income, net of tax	304		—		304		—		304
Total comprehensive loss	$	(10,696)	$	(1,410)	$	(12,106)	$	—	$	(12,106)

The effects of the restatement on the consolidated statement of convertible preferred stock and stockholders’ equity (deficit) for the three months ended August 30, 2020 are summarized in the following table:


	Convertible Preferred Stock			Common Stock			Additional Paid-in Capital		Retained Earnings (Accumulated Deficit)		Accumulated Other Comprehensive Loss		Total Stockholders’ Equity
	Shares	Amount		Shares	Amount
As Reported
Balance at May 31, 2020	—	$	—	29,224	$	29	$	162,578	$	71,245	$	(2,808)	$	231,044
Issuance of stock under stock plans	—	—		18	—		—		—		—		—
Taxes paid by Company for employee stock plans	—	—		—	—		(82)		—		—		(82)
Stock-based compensation	—	—		—	—		892		—		—		892
Net loss	—	—		—	—		—		(11,000)		—		(11,000)
Other comprehensive income, net of tax	—	—		—	—		—		—		304		304
Balance at August 30, 2020	—	$	—	29,242	$	29	$	163,388	$	60,245	$	(2,504)	$	221,158

Restatements Impacts
Opening retained earnings (at May 31, 2020)	—	—		—	—		—		(1,209)		—		(1,209)
Net income (loss) at August 30, 2020	—	—		—	—		—		(1,410)		—		(1,410)





As Restated
Balance at May 31, 2020	—	$	—	29,224	$	29	$	162,578	$	70,036	$	(2,808)	$	229,835

Issuance of stock under stock plans	—	—		18	—		—		—		—		—
Taxes paid by Company for employee stock plans	—	—		—	—		(82)		—		—		(82)
Stock-based compensation	—	—		—	—		892		—		—		892
Net loss	—	—		—	—		—		(12,410)		—		(12,410)
Other comprehensive income, net of tax	—	—		—	—		—		—		304		304
Balance at August 30, 2020	—	$	—	29,242	$	29	$	163,388	$	57,626	$	(2,504)	$	218,539

The effects of the restatement on the consolidated statement of cash flows for the three months ended August 30, 2020 are summarized in the following table:


	Three Months Ended August 30, 2020
	As Reported		Restatement Adjustment		As Restated
Cash flows from operating activities:
Net loss	$	(11,000)	$	(1,410)	$	(12,410)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation, amortization of intangibles and amortization of debt costs	5,102		—		5,102
Stock-based compensation expense	892		—		892
Deferred taxes	(4,349)		(298)		(4,647)
Net gain on disposal of property and equipment held and used	(11)		—		(11)
Loss on Windset	—		1,800		1,800
Loss on disposal of property and equipment related to restructuring, net	6,005		—		6,005
Other, net	21		—		21
Changes in current assets and current liabilities:
Accounts receivable, net	11,179		—		11,179
Inventory	6,313		100		6,413
Prepaid expenses and other current assets	1,353		13		1,366
Accounts payable	917		—		917
Accrued compensation	(139)		—		(139)
Other accrued liabilities	613		—		613
Deferred revenue	125		—		125
Net cash provided by operating activities	17,021		205		17,226

Cash flows from investing activities:
Purchases of property and equipment	(4,623)		(205)		(4,828)

Proceeds from sales of property and equipment	4,855		—		4,855
Net cash provided by (used in) investing activities	232		(205)		27

Cash flows from financing activities:
Taxes paid by Company for employee stock plans	(82)		—		(82)
Payments on long-term debt	(8,030)		—		(8,030)
Proceeds from line of credit	11,000		—		11,000
Payments on line of credit	(19,400)		—		(19,400)
Payments for debt issuance costs	(512)		—		(512)
Net cash used in financing activities	(17,024)		—		(17,024)

Net increase in cash, cash equivalents and restricted cash	229		—		229
Cash, cash equivalents and restricted cash, beginning of period	360		—		360
Cash, cash equivalents and restricted cash, end of period	$	589	$	—	$	589

Supplemental disclosure of non-cash investing and financing activities:
Purchases of property and equipment on trade vendor credit	$	978	$	—	$	978

The effects of this error on our previously reported changes in the Company’s allowance for sales returns and credit losses for the quarter ended August 30, 2020 as presented in the Company’s Quarterly Report on Form 10-Q Note 1, are as follows:


	August 30, 2020
	Balance at beginning of period		Provision (benefit) for expected credit losses	Write offs, net of recoveries	Balance at end of period
Three months ended August 30, 2020, As Reported	$	438	35	(169)	$	304

Three months ended August 30, 2020, As Restated	$	438	35	(169)	$	304
Discontinued Operations	$	(438)	(35)	169	$	(304)
Three months ended August 30, 2020, As Restated, after Discontinued Operations	$	—	—	—	$	—

The effects of this error on our previously reported inventories as of August 30, 2020 as presented in the Company’s Quarterly Report on Form 10-Q Note 1, are as follows:


	August 30, 2020
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Finished goods	$	27,635	$	(2)	$	27,633	$	(14,727)	$	12,906
Raw materials	25,794		(479)		25,315		(15,675)		9,640
Work in progress	6,569		(139)		6,430		(67)		6,363
Total inventories	$	59,998	$	(620)	$	59,378	$	(30,469)	$	28,909

The effects of this error on our previously reported basic and diluted net loss per share for the three months ended August 30, 2020 as presented in the Company’s Quarterly Report on Form 10-Q Note 1, are as follows:


	Three Months Ended August 30, 2020
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Numerator:
Net loss applicable to Common Stockholders	$	(11,000)	$	(1,410)	$	(12,410)	$	—	$	(12,410)

Denominator:
Weighted average shares for basic net income per share	29,242		—		29,242		—		29,242



Weighted average shares for diluted net income per share	29,242		—		29,242		—		29,242

Diluted net loss per share	$	(0.38)	$	(0.04)	$	(0.42)	$	—	$	(0.42)

The effects of this error on our previously reported disaggregated revenue for the three months ended August 30, 2020 as presented in the Company’s Quarterly Report on Form 10-Q Note 1, are as follows:


	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Contact development and manufacturing organization	$	16,488	$	228	$	16,716	$	—	$	16,716
Fermentation	5,316		—		5,316		—		5,316
Total	$	21,804	$	228	$	22,032	$	—	$	22,032

	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Fresh packaged salads and vegetables	$	96,179	$	—	$	96,179	$	(96,179)	$	—
Avocado Products	17,017		—		17,017		(17,017)		—
Technology	643		—		643		—		643
Total	$	113,839	$	—	$	113,839	$	(113,196)	$	643

The effects of this error on our previously reported segment reporting as of and for the three months ended August 30, 2020 as presented in the Company’s Quarterly Report on Form 10-Q Note 7, are as follows.

The segment table below has been restated to reflect the correction of accounting errors within the consolidated financial statements for the three months ended August 30, 2020. Refer to Note 14 for the related income statement line items


	Three Months Ended August 30, 2020
(in thousands)	Lifecore		Curation Foods		Other		Total
Three Months Ended August 30, 2020, As Reported
Net sales	$	21,804	$	113,839	$	—	$	135,643
Gross profit	5,002		11,345		—		16,347
Net income (loss) from continuing operations	112		(8,271)		(2,841)		(11,000)
Depreciation and amortization	1,310		3,410		28		4,748
Dividend Income	—		281		—		281
Interest income	—		—		8		8
Interest expense	—		1,376		1,733		3,109
Income tax (benefit) expense, continuing operations	35		(2,612)		(1,732)		(4,309)
Corporate overhead allocation	1,403		1,856		(3,259)		—

Restatement Adjustments
Net sales	228		—		—		228
Gross profit	(100)		—		—		(100)
Net (loss) income	(78)		(988)		(344)		(1,410)
Interest expense	—		—		(205)		(205)
Income tax (benefit) expense, continuing operations	(22)		(825)		549		(298)






Three Months Ended August 30, 2020, As Restated
Net sales	$	22,032	$	113,839	$	—	$	135,871
Gross profit	4,902		11,345		—		16,247
Net income (loss) from continuing operations	34		(9,259)		(3,185)		(12,410)
Depreciation and amortization	1,310		3,410		28		4,748
Dividend Income	—		281		—		281
Interest income	—		—		8		8
Interest expense	—		1,376		1,528		2,904
Income tax (benefit) expense, continuing operations	13		(3,437)		(1,183)		(4,607)
Corporate overhead allocation	1,403		1,856		(3,259)		—

The effects of this error on our previously reported restructuring cost for the three months ended August 30, 2020 as presented in the Company’s Quarterly Report on Form 10-Q Note 8, are as follows:


	Three Months Ended August 30, 2020
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Asset write-off costs	$	6,005	$	—	$	6,005	$	—	$	6,005
Employee severance and benefit costs	905		—		905		(905)		—

Other restructuring costs	1,494		—		1,494		(832)		662
Total restructuring costs	$	8,404	$	—	$	8,404	$	(1,737)	$	6,667


	Three Months Ended August 30, 2020
	Curation		Other		Total
Total restructuring costs, As reported	$	7,757	$	647	$	8,404
Discontinued Operations Adjustment	(1,737)		—		(1,737)
Total restructuring costs, As restated	$	6,020	$	647	$	6,667

Discontinued Operations - Narrative (Details) - Discontinued Operations - USD ($)	12 Months Ended
	May 28, 2023	May 29, 2022	May 30, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash used in operating activities	$ 100,000	$ (13,600,000)	$ 22,000
Cash provided by investing activities	(42,000.0)	105,300,000	5,300,000
Depreciation and amortization expense	400,000	7,600,000	11,200,000
Capital expenditures	$ 42,000	$ 4,500,000	$ 7,600,000

Stock-based Compensation and Stockholders’ Equity - Weighted Average Assumptions (Details) - $ / shares	12 Months Ended
	May 28, 2023	May 29, 2022	May 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average grant date fair value (in dollars per share)	$ 3.38	$ 2.62	$ 2.37
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life (in years)	3 years 6 months	2 years 9 months 18 days	3 years 4 months 9 days
Risk-free interest rate	3.14%	0.45%	0.23%
Volatility	39.00%	33.00%	33.00%
Dividend yield	0.00%	0.00%	0.00%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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+ Details

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	May 28, 2023	May 29, 2022	May 30, 2021
Statement of Comprehensive Income [Abstract]
Changes in net unrealized gains (losses) on interest rate swap, tax	$ 16	$ (430)	$ (455)

Unaudited Quarterly Consolidated Financial Information - Schedule of Quarterly Information (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended											6 Months Ended			9 Months Ended			12 Months Ended
	May 28, 2023	Feb. 26, 2023	Nov. 27, 2022	Aug. 28, 2022	May 29, 2022	Feb. 27, 2022	Nov. 28, 2021	Aug. 29, 2021	Feb. 28, 2021	Nov. 29, 2020	Aug. 30, 2020	Nov. 27, 2022	Nov. 28, 2021	Nov. 29, 2020	Feb. 26, 2023	Feb. 27, 2022	Feb. 28, 2021	May 28, 2023	May 29, 2022	May 30, 2021
Quarterly Financial Information Disclosure [Abstract]
Product sales	$ 31,145	$ 26,536	$ 21,864	$ 23,724	$ 28,107	$ 35,232	$ 25,601	$ 22,330	$ 27,807	$ 23,792	$ 22,675	$ 45,587						$ 103,269	$ 111,270	$ 100,874
Gross profit	7,779	8,548	5,679	5,979	10,424	11,639	11,458	5,545	10,930	10,774	5,294	11,658						27,985	39,066	38,937
Net loss from continuing operations	(36,998)	(11,330)	(9,201)	(6,707)	(3,630)	(10,920)	7,547	(8,473)	(1,751)	(8,390)	(9,990)	(15,908)						(64,236)	(15,476)	(23,437)
Net loss from discontinued operations	$ (2,286)	$ (25,177)	$ (3,605)	$ (4,259)	$ (51,641)	$ (2,666)	$ (46,018)	$ (914)	$ (5,227)	$ (3,233)	$ (2,420)	$ (7,864)						$ (35,327)	$ (101,239)	$ (8,857)
Net loss per basic share from continuing operations (in dollars per share)	$ (1.23)	$ (0.37)	$ (0.31)	$ (0.23)	$ (0.12)	$ (0.37)	$ 0.25	$ (0.29)	$ (0.06)	$ (0.29)	$ (0.34)	$ (0.54)						$ (2.14)	$ (0.53)	$ (0.80)
Net loss per diluted share from continuing operations (in dollars per share)	(1.23)	(0.37)	(0.31)	(0.23)	(0.12)	(0.37)	0.25	(0.29)	(0.06)	(0.29)	(0.34)	(0.54)						(2.14)	(0.53)	(0.80)
Net loss per basic share from discontinued operations (in dollars per share)	(0.09)	(0.83)	(0.12)	(0.14)	(1.76)	(0.09)	(1.56)	(0.03)	(0.18)	(0.11)	(0.08)	(0.26)						(1.18)	(3.44)	(0.30)
Net loss per diluted share from discontinued operations (in dollars per share)	(0.09)	(0.83)	(0.12)	(0.14)	(1.76)	(0.09)	(1.56)	(0.03)	(0.18)	(0.11)	(0.08)	(0.26)						(1.18)	(3.44)	(0.30)
Total basic net loss per share (in dollars per share)	(1.32)	(1.20)	(0.43)	(0.37)	(1.88)	(0.46)	(1.31)	(0.32)	(0.24)	(0.40)	(0.42)	(0.80)						(3.32)	(3.97)	(1.10)
Total diluted net loss per share (in dollars per share)	$ (1.32)	$ (1.20)	$ (0.43)	$ (0.37)	$ (1.88)	$ (0.46)	$ (1.31)	$ (0.32)	$ (0.24)	$ (0.40)	$ (0.42)	$ (0.80)	$ (1.63)	$ (0.82)	$ (2.02)	$ (2.09)	$ (1.06)	$ (3.32)	$ (3.97)	$ (1.10)

Organization, Basis of Presentation, and Summary of Significant Accounting Policies - Contract Assets and Liabilities Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	May 28, 2023	Feb. 26, 2023	Nov. 27, 2022	Aug. 28, 2022	May 29, 2022	Feb. 27, 2022	Nov. 28, 2021	Aug. 29, 2021	May 30, 2021	Feb. 28, 2021	Nov. 29, 2020	Aug. 30, 2020
Revenue from External Customer [Line Items]
Contract liabilities	$ 7,000				$ 900
Contract liabilities, current	4,055	$ 2,711	$ 731	$ 803	919	$ 1,614	$ 967	$ 1,069	$ 287	$ 740	$ 297	$ 0
Contract liabilities, noncurrent	2,900				0
Deferred revenue recognized	600
Unbilled Revenues
Revenue from External Customer [Line Items]
Contract with customer, assets	$ 3,200				$ 10,400

Business Segment Reporting (Details) - segment	12 Months Ended
Business Segment Reporting (Details) - segment	May 28, 2023	May 29, 2022
Segment Reporting [Abstract]
Number of operating segments	1	2
Number of Reportable Segments	1	2

Property and Equipment - Components of Property and Equipment (Details) - USD ($) $ in Thousands	May 28, 2023	Feb. 26, 2023	Nov. 27, 2022	Aug. 28, 2022	May 29, 2022	Feb. 27, 2022	Nov. 28, 2021	Aug. 29, 2021	May 30, 2021	Feb. 28, 2021	Nov. 29, 2020	Aug. 30, 2020
Property, Plant and Equipment [Line Items]
Gross property and equipment	$ 191,396				$ 165,533				$ 144,897
Less accumulated depreciation and amortization	(57,006)				(46,863)				(37,766)
Property and equipment, net	134,390	$ 126,326	$ 120,187	$ 118,190	118,670	$ 110,503	$ 108,761	$ 108,400	107,131	$ 95,789	$ 94,988	$ 93,764
Land
Property, Plant and Equipment [Line Items]
Gross property and equipment	3,739				3,710				3,670
Buildings
Property, Plant and Equipment [Line Items]
Gross property and equipment	$ 60,688				58,359				46,184
Buildings \| Minimum
Property, Plant and Equipment [Line Items]
Years of Useful Life	15 years
Buildings \| Maximum
Property, Plant and Equipment [Line Items]
Years of Useful Life	40 years
Leasehold improvements
Property, Plant and Equipment [Line Items]
Gross property and equipment	$ 4,019				4,019				4,055
Leasehold improvements \| Minimum
Property, Plant and Equipment [Line Items]
Years of Useful Life	3 years
Leasehold improvements \| Maximum
Property, Plant and Equipment [Line Items]
Years of Useful Life	15 years
Computers, capitalized software, machinery, equipment and autos
Property, Plant and Equipment [Line Items]
Gross property and equipment	$ 75,181				70,462				57,861
Computers, capitalized software, machinery, equipment and autos \| Minimum
Property, Plant and Equipment [Line Items]
Years of Useful Life	3 years
Computers, capitalized software, machinery, equipment and autos \| Maximum
Property, Plant and Equipment [Line Items]
Years of Useful Life	25 years
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Gross property and equipment	$ 2,182				2,091				2,314
Furniture and fixtures \| Minimum
Property, Plant and Equipment [Line Items]
Years of Useful Life	3 years
Furniture and fixtures \| Maximum
Property, Plant and Equipment [Line Items]
Years of Useful Life	7 years
Construction in process
Property, Plant and Equipment [Line Items]
Gross property and equipment	$ 45,587				$ 26,892				$ 30,813

Leases - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	May 28, 2023	May 29, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 2,067	$ 1,578
Operating cash flows from finance leases	351	335
Financing cash flows from finance leases	96	129
Lease liabilities arising from obtaining right-of-use assets:
Operating leases	$ 83	$ 37

Organization, Basis of Presentation, and Summary of Significant Accounting Policies - Fair Value Reconciliation of Level 3 (Details) $ in Thousands	12 Months Ended
	May 29, 2022 USD ($)
Investments [Abstract]
Beginning Balance	$ 44,769
Windset Investment (As Restated)
Investments [Abstract]
Beginning Balance	44,769
Sale of Investment in non-public company	(44,769)
Ending Balance	$ 0

Convertible Preferred Stock	12 Months Ended
Convertible Preferred Stock	May 28, 2023
Equity [Abstract]
Convertible Preferred Stock	Convertible Preferred Stock On January 9, 2023, the Company issued an aggregate of 38,750 shares of the Series A Convertible Preferred Stock, par value $0.001 per share (the “Convertible Preferred Stock”), all of which are convertible into shares of Common Stock at the election of the holders of the Convertible Preferred Stock, subject to the exchange and beneficial ownership limitations described below. The Convertible Preferred Stock ranks senior to the Company’s Common Stock with respect to dividends, distributions and payments on liquidation, winding-up and dissolution. Upon issuance, the shares of the Convertible Preferred Stock are fully paid and non-assessable, which means that its holders have paid their purchase price in full and are not required to pay additional funds. The Company recorded the Convertible Preferred Stock net of issuance costs of $0.7 million. The issuance costs are being accounted for similar to a discount on the Convertible Preferred Stock that is being reduced over the period ending June 29, 2026 (using the effective interest method) as a charge to additional paid in capital. Dividends The holders of Convertible Preferred Stock are entitled to dividends on the Liquidation Preference (as defined below) at the rate of 7.5% per annum, payable in-kind (“PIK”). The Company may, at its option, pay such dividends in cash from and after the earlier of June 29, 2026, or the termination or waiver of the restriction on cash dividends and/or redemptions that is set forth in the Credit Facilities (such earlier date, the “Applicable Date”). The holders are also entitled to participate in dividends declared or paid on the Common Stock on an as-converted basis. Liquidation and Redemption Upon a liquidation, dissolution, winding up or change of control of the Company, each share of Convertible Preferred Stock will be entitled to receive an amount per share of Convertible Preferred Stock equal to the greater of (i) the purchase price paid by the purchaser at issuance, plus all accrued and unpaid dividends (the “Liquidation Preference”) and (ii) the amount that the holder of Convertible Preferred Stock (each, a “Holder” and collectively, the “Holders”) would have been entitled to receive at such time if the Convertible Preferred Stock had been converted into Common Stock immediately prior to such liquidation event. Upon certain bankruptcy events, the Company is required to pay to each Holder an amount in cash equal to the Liquidation Preference being redeemed. From and after the Applicable Date, each Holder shall have the right to require the Company to redeem all or any part of such Holder’s Convertible Preferred Stock for an amount equal to the Liquidation Preference. At the time of a redemption, if the Company does not have sufficient funds to redeem any preferred shares submitted for redemption, each holder is entitled to receive interest on the unpaid portion of the redemption at 1% per month until fully paid (the “1% contingent interest”). As of May 28, 2023, the aggregate liquidation preference of the Convertible Preferred Stock approximated $39.3 million. Conversion Each Holder has the right, at its option, to convert its Convertible Preferred Stock, in whole or in part, into fully paid and non-assessable shares of Common Stock at an initial conversion price equal to $7.00 per share. The conversion price is subject to customary anti-dilution adjustments, including in the event of any stock split, stock dividend, recapitalization or similar events, and is also subject to adjustment in the event of subsequent offerings of Common Stock or convertible securities by the Company for less than the conversion price. Pursuant to the terms of the Certificate of Designations of the Convertible Preferred Stock filed by the Company with the Delaware Secretary of State on January 9, 2023, unless and until approval of the Company’s stockholders is obtained as contemplated by NASDAQ listing rules, no Holder may convert shares of Convertible Preferred Stock through either an optional or a mandatory conversion into shares of Common Stock if and solely to the extent that the issuance of such shares of Common Stock would exceed the aggregate number of shares of Common Stock that is equal to 19.99% of the amount of Common Stock of the Company outstanding on the date on which we issued the Convertible Preferred Stock (the “Exchange Limit”). Additionally, subject to certain exceptions and waiver by each Holder, the Company will not issue any shares of Common Stock to any respective Holder to the extent that such issuance of Common Stock would result in such Holder beneficially owning in excess of 9.99% of the then-outstanding Common Stock (together with the Exchange Limit, the “Conversion Limits”). Subject to certain conditions, the Company may from time to time, at its option, require conversion of all or any portion of the outstanding shares of Convertible Preferred Stock to Common Stock if, for at least 20 consecutive trading days during the respective measuring period the closing price of the Common Stock was at least 150% of the conversion price (the “Mandatory Conversion Right”). The Company may not exercise this Mandatory Conversion Right unless certain conditions with regard to the shares of Common Stock to be issued upon such conversion are satisfied. Voting Each Holder is entitled to vote with the holders of the shares of Common Stock on all matters submitted for a vote of holders of shares of Common Stock (voting together with the holders of shares of Common Stock as one class). Each Holder is entitled the whole number of votes equal to the number of shares of Common Stock into which such Holder’s shares of Convertible Preferred Stock would be convertible on the record date for the vote or consent (subject to the Conversion Limits). Registration Rights Agreement On January 9, 2023, in connection with the issuance of the Convertible Preferred Stock, the Company and the Holders also entered into a Registration Rights Agreement (the “Registration Rights Agreement”) pursuant to which, among other things, the Company granted the Holders certain registration rights with respect to the shares of Common Stock issuable upon conversion of the Convertible Preferred Stock. The Registration Rights Agreement contains monetary penalties if the registration statement is not declared effective by the SEC within 90 days of the issuance of the Convertible Preferred Stock on January 9, 2023, or if earlier, the fifth business day after the SEC notifies the Company that the registration statement is not subject to further review. The Registration Rights Agreement also contains monetary penalties if the Company fails to maintain the effectiveness of the registration statement once deemed effective by the SEC. As of May 28, 2023, the Company has accrued $0.5 million in monetary penalties under the Registration Rights Agreement that was paid in June 2023. As of the date of this Annual Report on Form 10-K, the Company has incurred $2.0 million in monetary penalties under the Registration Rights Agreement due to delinquent filing of the annual and quarterly reports with the SEC. Classification The Convertible Preferred Stock is redeemable by the holders after June 29, 2026. Accordingly, the Convertible Preferred Stock is redeemable contingent upon the occurrence of an event that is not probable. As a result, the Company has presented the Convertible Preferred Stock outside of permanent equity. The Convertible Preferred Stock was recorded at its issuance date fair value of the net proceeds raised and will not require subsequent measurement until it becomes probable of being redeemable. The Company recorded proceeds of $38.8 million, net of costs associated with the issuance of the Convertible Preferred Stock of $0.7 million, totaling $38.1 million. The discount to the proceeds arising from issuance costs is being amortized up to its full redemption value through June 29, 2026. As of May 28, 2023, the Company recorded PIK dividends of $1.2 million and accretion of discount of $0.1 million as a reduction to Additional Paid in Capital and an increase to the Convertible Preferred Stock balance to $39.3 million. As of May 28, 2023, there were approximately 39,000 shares of Convertible Preferred Stock outstanding.

Leases (Tables)

12 Months Ended

May 28, 2023

Leases [Abstract]

Components of Lease Cost and Supplemental Cash Flow Information

The components of lease cost were as follows:


	Year Ended			Year Ended
(In thousands, except term and discount rate)	May 28, 2023			May 29, 2022
Finance lease cost:
Amortization of leased assets	$	119		$	113
Interest on lease liabilities	351			335
Operating lease cost	1,286			1,046
Variable lease cost and other	600			406
Sublease income	(53)			(90)
Total lease cost	$	2,303		$	1,810

Weighted-average remaining lease term:
Operating leases	7.69			8.54
Finance leases	4.57			0.59
Weighted-average discount rate:
Operating leases	4.60		%	4.61		%
Finance leases	11.40		%	10.01		%

Supplemental cash flow information related to leases are as follows:


	Year Ended		Year Ended
(in thousands)	May 28, 2023		May 29, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	2,067	$	1,578
Operating cash flows from finance leases	351		335
Financing cash flows from finance leases	96		129
Lease liabilities arising from obtaining right-of-use assets:
Operating leases	$	83	$	37

Maturity Analysis of Operating Lease Liability

The Company’s maturity analysis of operating and finance lease liabilities as of May 28, 2023 are as follows:


(in thousands)	Operating Leases		Finance Leases		Total
2024	$	1,467	$	492	$	1,959
2025	1,217		496		1,713
2026	1,228		505		1,733
2027	1,234		517		1,751
2028	1,145		2,874		4,019
Thereafter	2,647		—		2,647
Total lease payments	8,938		4,884		13,822
Less: interest	(1,296)		(1,547)		(2,843)
Present value of lease liabilities	7,642		3,337		10,979
Less: current obligation of lease liabilities	(1,147)		(123)		(1,270)
Total long-term lease liabilities	$	6,495	$	3,214	$	9,709

Maturity Analysis of Finance Lease Liability

The Company’s maturity analysis of operating and finance lease liabilities as of May 28, 2023 are as follows:


(in thousands)	Operating Leases		Finance Leases		Total
2024	$	1,467	$	492	$	1,959
2025	1,217		496		1,713
2026	1,228		505		1,733
2027	1,234		517		1,751
2028	1,145		2,874		4,019
Thereafter	2,647		—		2,647
Total lease payments	8,938		4,884		13,822
Less: interest	(1,296)		(1,547)		(2,843)
Present value of lease liabilities	7,642		3,337		10,979
Less: current obligation of lease liabilities	(1,147)		(123)		(1,270)
Total long-term lease liabilities	$	6,495	$	3,214	$	9,709

Stock-based Compensation and Stockholders’ Equity (Tables)

12 Months Ended

May 28, 2023

Share-Based Payment Arrangement [Abstract]

Stock Option Weighted Average Assumptions

As of May 28, 2023, May 29, 2022 and May 30, 2021, the fair value of stock option grants were estimated using the following weighted average assumptions:


	Year Ended
	May 28, 2023		May 29, 2022		May 30, 2021


Weighted-average grant date fair value	$3.38		$2.62		$2.37
Assumptions:
Expected life (in years)	3.50		2.80		3.36
Risk-free interest rate	3.14	%	0.45	%	0.23	%
Volatility	39	%	33	%	33	%
Dividend yield	—	%	—	%	—	%

Schedule of Share-based Compensation Activity

A summary of the activity under the Company’s stock option plans as of May 28, 2023 and changes during the fiscal year then ended is presented below:


	Options Outstanding	Weighted-Average Exercise Price Per Share		Total Intrinsic Value of Options Exercised		Weighted-Average Remaining Contractual Term in Years	Aggregate Intrinsic Value
Options outstanding at May 31, 2020	1,716,358	$	12.15
Options granted	682,600	$	9.66

Options forfeited	(127,714)	$	9.93
Options expired	(437,227)	$	13.42
Options outstanding at May 30, 2021	1,834,017	$	11.07
Options granted	803,000	$	11.79
Options exercised	(161,415)	$	9.69	$	304,211
Options forfeited	(205,746)	$	10.96
Options expired	(322,170)	$	13.31
Options outstanding at May 29, 2022	1,947,686	$	11.13
Options granted	743,050	$	10.51
Options exercised	(15,474)	$	9.57	$	12,069
Options forfeited	(61,900)	$	10.69
Options expired	(239,037)	$	12.08
Options outstanding at May 28, 2023	2,374,325	$	10.88			3.94	$	—
Options exercisable at May 28, 2023	1,470,091	$	11.01			2.64	$	—

A summary of the Company’s restricted stock unit award activity as of May 28, 2023 and changes during the fiscal year then ended is presented below:


	Restricted Stock Units Outstanding	Weighted-Average Grant Date Fair Value Per Share
Restricted stock units/awards outstanding at May 31, 2020	469,548	$	11.24
Granted	188,225	$	10.13
Vested	(146,197)	$	11.69
Forfeited	(31,180)	$	10.60
Restricted stock units/awards outstanding at May 30, 2021	480,396	$	10.71
Granted	105,858	$	11.98
Vested	(228,568)	$	11.41
Forfeited	(63,087)	$	10.70
Restricted stock units/awards outstanding at May 29, 2022	294,599	$	10.55
Granted	336,186	$	9.59
Vested	(214,494)	$	10.79
Forfeited	(79,500)	$	9.43
Restricted stock units/awards outstanding at May 28, 2023	336,791	$	9.70

Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs

The following table summarizes the stock-based compensation by statement of operations line item:


	Year Ended
(in thousands)	May 28, 2023		May 29, 2022		May 30, 2021
Continuing operations:
Cost of sales	$	404	$	314	$	348
Research and development	193		202		223
Selling, general and administrative	3,015		2,126		2,734
Discontinued Operations	—		(34)		55
Total stock-based compensation	$	3,612	$	2,608	$	3,360

Unaudited Quarterly Consolidated Financial Information - Balance Sheet (Details) - USD ($) $ in Thousands	May 28, 2023	Feb. 26, 2023	Nov. 27, 2022	Aug. 28, 2022	May 29, 2022	Feb. 27, 2022	Nov. 28, 2021	Aug. 29, 2021	May 30, 2021	Feb. 28, 2021	Nov. 29, 2020	Aug. 30, 2020	May 31, 2020
Current Assets:
Cash and cash equivalents	$ 19,091	$ 2,950	$ 5,938	$ 2,540	$ 991	$ 1,101	$ 609	$ 939	$ 763	$ 1,853	$ 2,476	$ 439
Accounts receivable, net	29,024	30,974	27,458	31,929	38,314	39,747	27,495	26,216	31,591	28,863	29,600	27,172
Inventories, net	40,841	42,042	38,420	36,154	36,000	34,758	39,715	36,869	33,930	31,441	32,404	28,909
Prepaid expenses and other current assets	4,919	1,473	1,673	1,986	2,053	1,818	1,441	1,324	1,502	5,946	6,795	13,934
Current assets, discontinued operations	0	5,687	45,592	36,896	39,310	49,716	81,293	73,318	77,515	90,219	80,554	74,513
Total Current Assets	93,875	83,126	119,081	109,505	116,668	127,140	150,553	138,666	145,301	158,322	151,829	144,967
Investment in non-public company									44,769	45,100	45,100	55,100
Property and equipment, net	134,390	126,326	120,187	118,190	118,670	110,503	108,761	108,400	107,131	95,789	94,988	93,764
Operating lease right-of-use assets	4,282	5,100	5,251	5,396	5,553	5,703	7,487	7,696	13,536	15,403	12,691	13,359
Goodwill	13,881	13,881	13,881	13,881	13,881	13,881	13,881	13,881	13,881	13,881	13,881	13,881
Trademarks/tradenames, net	4,200	4,200	4,200	4,200	4,200	4,200	4,200	4,200	4,200	4,200	4,200	4,200
Customer relationships			0	0	0	51	128	205	282	359	436	514
Other assets	2,917	2,699	2,492	2,680	2,889	2,935	3,083	3,251	3,418	3,375	1,132	1,193
Non-current Assets, discontinued operations	0	1,324	10,881	12,528	12,842	59,829	133,215	168,426	169,367	170,433	173,812	176,065
Total Assets	253,545	236,656	275,973	266,380	274,703	324,242	421,308	444,725	501,885	506,862	498,069	503,043
Current Liabilities:
Accounts payable	22,097	14,657	13,301	9,623	12,952	13,294	8,655	8,606	11,622	8,887	7,985	6,351
Accrued compensation	4,145	6,733	4,104	5,921	8,941	9,418	3,256	4,735	7,500	6,424	4,128	3,974
Other accrued liabilities	7,142	11,626	9,365	6,622	6,479	12,993	3,880	4,713	3,009	5,776	6,115	3,669
Current portion of lease liabilities	1,270	1,216	4,334	4,352	4,368	4,395	1,218	1,236	977	1,005	710	711
Deferred revenue	4,055	2,711	731	803	919	1,614	967	1,069	287	740	297	0
Line of credit	0		48,000	44,000	40,000	39,900	42,000	32,000	29,000	41,000	77,000	69,000
Current portion of long-term debt, net	580		98,953	98,569	98,178						11,189	11,027
Current liabilities, discontinued operations	0	458	16,832	8,845	4,744	8,790	62,416	51,290	49,457	61,481	66,454	58,961
Total Current Liabilities	39,289	37,401	195,620	178,735	176,581	90,404	122,392	103,649	101,852	125,313	173,878	153,693
Line of credit	16,809	16,000			0
Long-term debt, net	84,256	98,900			0	79,598	124,194	123,833	164,902	145,051	82,000	93,919
Long-term lease liabilities	9,709	9,998	7,020	7,294	7,658	7,848	11,344	11,655	17,375	17,919	15,475	16,016
Deferred taxes, net	380	80	10	124	126	796	1,201	3,949	5,975	6,104	6,631	8,877
Other non-current liabilities	3,114	203	201	199	190	544	1,932	2,376	2,870	3,032	4,024	4,138
Non-current liabilities, discontinued operations	0	518	1,979	2,153	2,325	2,494	4,821	6,146	6,965	7,240	8,064	7,861
Total Liabilities	218,457	163,100	204,830	188,505	186,880	181,684	265,884	251,608	299,939	304,659	290,072	284,504
Convertible Preferred Stock	39,318	38,535			0
Stockholders’ (Deficit) Equity:
Common stock, $0.001 par value; 50,000 shares authorized	30	30		30	30	29	29	29	29	29	29	29
Additional paid-in capital	174,276	174,243	173,858	168,070	167,352	166,943	166,327	165,725	165,533	164,865	164,068	163,388
Accumulated deficit	(178,536)	(139,252)	(102,745)	(89,939)	(78,973)	(23,702)	(10,116)	28,355	37,742	39,025	46,003	57,626
Accumulated other comprehensive loss	0			(286)	(586)	(712)	(816)	(992)	(1,358)	(1,716)	(2,103)	(2,504)
Total Stockholders’ (Deficit) Equity	(4,230)	35,021	71,143	77,875	87,823	142,558	155,424	193,117	201,946	202,203	207,997	218,539	$ 229,835
Total Liabilities, Convertible Preferred Stock and Stockholders’ (Deficit) Equity	$ 253,545	236,656	275,973	266,380	274,703	324,242	421,308	444,725	501,885	506,862	498,069	503,043
As Reported
Current Assets:
Cash and cash equivalents		2,950	6,830	4,222	1,643	1,854	1,091	1,447	1,159	2,248	2,491	589
Accounts receivable, net		32,371	35,689	40,934	48,172	49,559	65,276	61,956	41,430	69,577	66,545	65,027
Inventories, net		48,696	77,524	64,285	66,845	73,700	79,433	69,415	63,076	76,779	71,202	59,998
Prepaid expenses and other current assets		4,422	7,049	7,157	7,052	6,924	8,721	9,591	5,038	14,323	13,949	21,753
Current assets, discontinued operations		0	0	0	0	0	0	0	37,618	0	0	0
Total Current Assets		88,439	127,092	116,598	123,712	132,037	154,521	142,409	148,321	162,927	154,187	147,367
Investment in non-public company									0	45,100	45,100	56,900
Property and equipment, net		120,799	118,852	117,551	118,531	123,209	179,929	180,460	120,286	168,693	170,973	171,413
Operating lease right-of-use assets		5,924	7,951	8,229	8,580	8,796	11,979	14,299	17,098	23,528	21,070	22,109
Goodwill		13,881	13,881	13,881	13,881	33,916	37,329	69,386	33,916	69,386	69,386	69,386
Trademarks/tradenames, net		4,400	7,400	8,700	8,700	17,100	25,328	25,328	17,100	25,328	25,328	25,328
Customer relationships			1,292	1,346	1,400	7,476	9,799	10,295	8,532	11,288	11,784	12,281
Other assets		2,710	2,605	2,793	3,002	3,048	3,239	3,442	3,531	3,573	1,332	1,396
Non-current Assets, discontinued operations		0	0	0	0	0	0	0	154,140	0	0	0
Total Assets		236,153	279,073	269,098	277,806	325,582	422,124	445,619	502,924	509,823	499,160	506,180
Current Liabilities:
Accounts payable		14,762	27,971	16,366	15,802	20,014	59,098	46,355	16,298	56,323	60,892	50,722
Accrued compensation		6,733	4,602	6,373	9,238	9,757	7,214	9,173	7,754	11,218	7,689	8,895
Other accrued liabilities		12,012	10,426	7,832	7,647	14,083	9,804	10,855	3,955	11,186	12,715	9,607
Current portion of lease liabilities		1,455	5,013	5,021	5,026	5,045	2,988	4,054	1,600	4,027	3,785	4,001
Deferred revenue		2,711	731	803	919	1,614	1,160	1,216	637	1,595	644	477
Line of credit			48,000	44,000	40,000	39,900	42,000	32,000	29,000	41,000	77,000	69,000
Current portion of long-term debt, net			98,953	98,569	98,178						11,189	11,027
Current liabilities, discontinued operations		0	0	0	0	0	0	0	42,644	0	0	0
Total Current Liabilities		37,673	195,696	178,964	176,810	90,413	122,264	103,653	101,888	125,349	173,914	153,729
Line of credit		16,000
Long-term debt, net		98,964				79,598	124,194	123,833	164,902	145,051	82,000	93,919
Long-term lease liabilities		10,516	8,999	9,447	9,983	10,342	14,203	17,072	20,359	24,430	22,206	23,018
Deferred taxes, net		80	10	124	126	961	1,367	4,091	6,140	6,608	6,745	9,359
Other non-current liabilities		203	201	199	190	544	3,894	3,105	2,870	3,761	5,357	4,997
Non-current liabilities, discontinued operations		0	0	0	0	0	0	0	3,981	0	0	0
Total Liabilities		163,436	204,906	188,734	187,109	181,858	265,922	251,754	300,140	305,199	290,222	285,022
Convertible Preferred Stock		38,510
Stockholders’ (Deficit) Equity:
Common stock, $0.001 par value; 50,000 shares authorized		30	30	30	30	29	29	29	29	29	29	29
Additional paid-in capital		174,268	174,036	168,070	167,352	166,943	166,327	165,725	165,533	164,865	164,068	163,388
Accumulated deficit		(140,091)	(99,899)	(87,450)	(76,099)	(22,536)	(9,338)	29,103	38,580	41,446	46,944	60,245
Accumulated other comprehensive loss				(286)	(586)	(712)	(816)	(992)	(1,358)	(1,716)	(2,103)	(2,504)
Total Stockholders’ (Deficit) Equity		34,207	74,167	80,364	90,697	143,724	156,202	193,865	202,784	204,624	208,938	221,158	231,044
Total Liabilities, Convertible Preferred Stock and Stockholders’ (Deficit) Equity		236,153	279,073	269,098	277,806	325,582	422,124	445,619	502,924	509,823	499,160	506,180
Restatement
Current Assets:
Cash and cash equivalents		0	0	0	0	0	0	0	0	0	0	0
Accounts receivable, net		(671)	(522)	(522)	(522)	(522)	(522)	(522)	(522)	0	0	0
Inventories, net		(3,437)	(5,936)	(4,860)	(4,833)	(2,591)	(1,824)	(1,350)	(1,053)	(1,473)	(578)	(620)
Prepaid expenses and other current assets		(1,205)	(1,553)	(1,711)	(1,689)	(1,784)	(1,622)	(1,871)	(930)	(3,132)	(1,780)	(1,780)
Current assets, discontinued operations		0	0	0	0	0	0	0	(515)	0	0	0
Total Current Assets		(5,313)	(8,011)	(7,093)	(7,044)	(4,897)	(3,968)	(3,743)	(3,020)	(4,605)	(2,358)	(2,400)
Investment in non-public company									44,769	0	0	(1,800)
Property and equipment, net		5,933	5,001	4,437	4,035	3,557	3,152	2,849	2,312	1,644	1,267	1,063
Operating lease right-of-use assets		(117)	(90)	(62)	(94)	0	0	0	0	0	0	0
Goodwill		0	0	0	0	0	0	0	0	0	0	0
Trademarks/tradenames, net		0	0	0	0	0	0	0	0	0	0	0
Customer relationships			0	0	0	0	0	0	0	0	0	0
Other assets		0	0	0	0	0	0	0	0	0	0	0
Non-current Assets, discontinued operations		0	0	0	0	0	0	0	(45,100)	0	0	0
Total Assets		503	(3,100)	(2,718)	(3,103)	(1,340)	(816)	(894)	(1,039)	(2,961)	(1,091)	(3,137)
Current Liabilities:
Accounts payable		(79)	(25)	0	0	27	52	0	0	0	0	0
Accrued compensation		0	0	0	0	0	0	0	0	0	0	0
Other accrued liabilities		(193)	(51)	(229)	(229)	(36)	76	(4)	314	314	(36)	(36)
Current portion of lease liabilities		0	0	0	0	0	0	0	0	0	0	0
Deferred revenue		0	0	0	0	0	0	0	(350)	(350)	0	0
Line of credit			0	0	0	0	0	0	0	0	0	0
Current portion of long-term debt, net			0	0	0						0	0
Current liabilities, discontinued operations		0	0	0	0	0	0	0	0	0	0	0
Total Current Liabilities		(272)	(76)	(229)	(229)	(9)	128	(4)	(36)	(36)	(36)	(36)
Line of credit		0
Long-term debt, net		(64)				0	0	0	0	0	0	0
Long-term lease liabilities		0	0	0	0	0	0	0	0	0	0	0
Deferred taxes, net		0	0	0	0	(165)	(166)	(142)	(165)	(504)	(114)	(482)
Other non-current liabilities		0	0	0	0	0	0	0	0	0	0	0
Non-current liabilities, discontinued operations		0	0	0	0	0	0	0	0	0	0	0
Total Liabilities		(336)	(76)	(229)	(229)	(174)	(38)	(146)	(201)	(540)	(150)	(518)
Convertible Preferred Stock		25
Stockholders’ (Deficit) Equity:
Common stock, $0.001 par value; 50,000 shares authorized		0	0	0	0	0	0	0	0	0	0	0
Additional paid-in capital		(25)	(178)	0	0	0	0	0	0	0	0	0
Accumulated deficit		839	(2,846)	(2,489)	(2,874)	(1,166)	(778)	(748)	(838)	(2,421)	(941)	(2,619)
Accumulated other comprehensive loss				0	0	0	0	0	0	0	0	0
Total Stockholders’ (Deficit) Equity		814	(3,024)	(2,489)	(2,874)	(1,166)	(778)	(748)	(838)	(2,421)	(941)	(2,619)	$ (1,209)
Total Liabilities, Convertible Preferred Stock and Stockholders’ (Deficit) Equity		503	(3,100)	(2,718)	(3,103)	(1,340)	(816)	(894)	(1,039)	(2,961)	(1,091)	(3,137)
As Restated
Current Assets:
Cash and cash equivalents		2,950	6,830	4,222	1,643	1,854	1,091	1,447	1,159	2,248	2,491	589
Accounts receivable, net		31,700	35,167	40,412	47,650	49,037	64,754	61,434	40,908	69,577	66,545	65,027
Inventories, net		45,259	71,588	59,425	62,012	71,109	77,609	68,065	62,023	75,306	70,624	59,378
Prepaid expenses and other current assets		3,217	5,496	5,446	5,363	5,140	7,099	7,720	4,108	11,191	12,169	19,973
Current assets, discontinued operations		0	0	0	0	0	0	0	37,103	0	0	0
Total Current Assets		83,126	119,081	109,505	116,668	127,140	150,553	138,666	145,301	158,322	151,829	144,967
Investment in non-public company									44,769	45,100	45,100	55,100
Property and equipment, net		126,732	123,853	121,988	122,566	126,766	183,081	183,309	122,598	170,337	172,240	172,476
Operating lease right-of-use assets		5,807	7,861	8,167	8,486	8,796	11,979	14,299	17,098	23,528	21,070	22,109
Goodwill		13,881	13,881	13,881	13,881	33,916	37,329	69,386	33,916	69,386	69,386	69,386
Trademarks/tradenames, net		4,400	7,400	8,700	8,700	17,100	25,328	25,328	17,100	25,328	25,328	25,328
Customer relationships			1,292	1,346	1,400	7,476	9,799	10,295	8,532	11,288	11,784	12,281
Other assets		2,710	2,605	2,793	3,002	3,048	3,239	3,442	3,531	3,573	1,332	1,396
Non-current Assets, discontinued operations		0	0	0	0	0	0	0	109,040	0	0	0
Total Assets		236,656	275,973	266,380	274,703	324,242	421,308	444,725	501,885	506,862	498,069	503,043
Current Liabilities:
Accounts payable		14,683	27,946	16,366	15,802	20,041	59,150	46,355	16,298	56,323	60,892	50,722
Accrued compensation		6,733	4,602	6,373	9,238	9,757	7,214	9,173	7,754	11,218	7,689	8,895
Other accrued liabilities		11,819	10,375	7,603	7,418	14,047	9,880	10,851	4,269	11,500	12,679	9,571
Current portion of lease liabilities		1,455	5,013	5,021	5,026	5,045	2,988	4,054	1,600	4,027	3,785	4,001
Deferred revenue		2,711	731	803	919	1,614	1,160	1,216	287	1,245	644	477
Line of credit			48,000	44,000	40,000	39,900	42,000	32,000	29,000	41,000	77,000	69,000
Current portion of long-term debt, net			98,953	98,569	98,178						11,189	11,027
Current liabilities, discontinued operations		0	0	0	0	0	0	0	42,644	0	0	0
Total Current Liabilities		37,401	195,620	178,735	176,581	90,404	122,392	103,649	101,852	125,313	173,878	153,693
Line of credit		16,000
Long-term debt, net		98,900				79,598	124,194	123,833	164,902	145,051	82,000	93,919
Long-term lease liabilities		10,516	8,999	9,447	9,983	10,342	14,203	17,072	20,359	24,430	22,206	23,018
Deferred taxes, net		80	10	124	126	796	1,201	3,949	5,975	6,104	6,631	8,877
Other non-current liabilities		203	201	199	190	544	3,894	3,105	2,870	3,761	5,357	4,997
Non-current liabilities, discontinued operations		0	0	0	0	0	0	0	3,981	0	0	0
Total Liabilities		163,100	204,830	188,505	186,880	181,684	265,884	251,608	299,939	304,659	290,072	284,504
Convertible Preferred Stock		38,535
Stockholders’ (Deficit) Equity:
Common stock, $0.001 par value; 50,000 shares authorized		30	30	30	30	29	29	29	29	29	29	29
Additional paid-in capital		174,243	173,858	168,070	167,352	166,943	166,327	165,725	165,533	164,865	164,068	163,388
Accumulated deficit		(139,252)	(102,745)	(89,939)	(78,973)	(23,702)	(10,116)	28,355	37,742	39,025	46,003	57,626
Accumulated other comprehensive loss				(286)	(586)	(712)	(816)	(992)	(1,358)	(1,716)	(2,103)	(2,504)
Total Stockholders’ (Deficit) Equity		35,021	71,143	77,875	87,823	142,558	155,424	193,117	201,946	202,203	207,997	218,539
Total Liabilities, Convertible Preferred Stock and Stockholders’ (Deficit) Equity		236,656	275,973	266,380	274,703	324,242	421,308	444,725	501,885	506,862	498,069	503,043
Discontinued Operations
Current Assets:
Cash and cash equivalents		0	892	1,682	652	753	482	508	396	395	15	150
Accounts receivable, net		726	7,709	8,483	9,336	9,290	37,259	35,218	9,317	40,714	36,945	37,855
Inventories, net		3,217	33,168	23,271	26,012	36,351	37,894	31,196	28,093	43,865	38,220	30,469
Prepaid expenses and other current assets		1,744	3,823	3,460	3,310	3,322	5,658	6,396	2,606	5,245	5,374	6,039
Current assets, discontinued operations		5,687	45,592	36,896	39,310	49,716	81,293	73,318	40,412	90,219	80,554	74,513
Investment in non-public company									0	0	0	0
Property and equipment, net		406	3,666	3,798	3,896	16,263	74,320	74,909	15,467	74,548	77,252	78,712
Operating lease right-of-use assets		707	2,610	2,771	2,933	3,093	4,492	6,603	3,562	8,125	8,379	8,750
Goodwill		0	0	0	0	20,035	23,448	55,505	20,035	55,505	55,505	55,505
Trademarks/tradenames, net		200	3,200	4,500	4,500	12,900	21,128	21,128	12,900	21,128	21,128	21,128
Customer relationships			1,292	1,346	1,400	7,425	9,671	10,090	8,250	10,929	11,348	11,767
Other assets		11	113	113	113	113	156	191	113	198	200	203
Non-current Assets, discontinued operations		1,324	10,881	12,528	12,842	59,829	133,215	168,426	60,327	170,433	173,812	176,065
Current Liabilities:
Accounts payable		26	14,645	6,743	2,850	6,747	50,495	37,749	4,676	47,436	52,907	44,371
Accrued compensation		0	498	452	297	339	3,958	4,438	254	4,794	3,561	4,921
Other accrued liabilities		193	1,010	981	939	1,054	6,000	6,138	1,260	5,724	6,564	5,902
Current portion of lease liabilities		239	679	669	658	650	1,770	2,818	623	3,022	3,075	3,290
Deferred revenue		0	0	0	0	0	193	147	0	505	347	477
Line of credit			0	0	0	0	0	0	0	0	0	0
Current portion of long-term debt, net			0	0	0						0	0
Current liabilities, discontinued operations		458	16,832	8,845	4,744	8,790	62,416	51,290	6,813	61,481	66,454	58,961
Line of credit		0
Long-term debt, net		0				0	0	0	0	0	0	0
Long-term lease liabilities		518	1,979	2,153	2,325	2,494	2,859	5,417	2,984	6,511	6,731	7,002
Deferred taxes, net		0	0	0	0	0	0	0	0	0	0	0
Other non-current liabilities		0	0	0	0	0	1,962	729	0	729	1,333	859
Non-current liabilities, discontinued operations		518	1,979	2,153	2,325	2,494	4,821	6,146	2,984	7,240	8,064	7,861
Total Liabilities		0
Convertible Preferred Stock		0
Stockholders’ (Deficit) Equity:
Common stock, $0.001 par value; 50,000 shares authorized		0	0	0	0	0	0	0	0	0	0	0
Additional paid-in capital		0	0	0	0	0	0	0	0	0	0	0
Accumulated deficit		0	0	0	0	0	0	0	0	0	0	0
Accumulated other comprehensive loss				0	0	0	0	0	0	0	0	0
Total Stockholders’ (Deficit) Equity		0	0	0	0	0	0	0	0	0	0	0
Total Liabilities, Convertible Preferred Stock and Stockholders’ (Deficit) Equity		$ 0	0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0
Continuing Operations
Stockholders’ (Deficit) Equity:
Common stock, $0.001 par value; 50,000 shares authorized			$ 30

Unaudited Quarterly Consolidated Financial Information - Discontinued Operations - Assets and Liabilities (Details) - USD ($) $ in Thousands	May 28, 2023	Feb. 26, 2023	Nov. 27, 2022	Aug. 28, 2022	May 29, 2022	Feb. 27, 2022	Nov. 28, 2021	Aug. 29, 2021	May 30, 2021	Feb. 28, 2021	Nov. 29, 2020	Aug. 30, 2020
ASSETS
Cash and cash equivalents	$ 0				$ 652				$ 532
Total current assets, discontinued operations	0	$ 5,687	$ 45,592	$ 36,896	39,310	$ 49,716	$ 81,293	$ 73,318	77,515	$ 90,219	$ 80,554	$ 74,513
Total other assets, discontinued operations	0	1,324	10,881	12,528	12,842	59,829	133,215	168,426	169,367	170,433	173,812	176,065
LIABILITIES
Total current liabilities, discontinued operations	0	458	16,832	8,845	4,744	8,790	62,416	51,290	49,457	61,481	66,454	58,961
Non-current liabilities, discontinued operations	$ 0	518	1,979	2,153	2,325	2,494	4,821	6,146	6,965	7,240	8,064	7,861
Discontinued Operations
ASSETS
Total current assets, discontinued operations		5,687	45,592	36,896	39,310	49,716	81,293	73,318	40,412	90,219	80,554	74,513
Total other assets, discontinued operations		1,324	10,881	12,528	12,842	59,829	133,215	168,426	60,327	170,433	173,812	176,065
LIABILITIES
Total current liabilities, discontinued operations		458	16,832	8,845	4,744	8,790	62,416	51,290	6,813	61,481	66,454	58,961
Non-current liabilities, discontinued operations		518	1,979	2,153	2,325	2,494	4,821	6,146	2,984	7,240	8,064	7,861
As Reported
ASSETS
Total current assets, discontinued operations		0	0	0	0	0	0	0	37,618	0	0	0
Total other assets, discontinued operations		0	0	0	0	0	0	0	154,140	0	0	0
LIABILITIES
Total current liabilities, discontinued operations		0	0	0	0	0	0	0	42,644	0	0	0
Non-current liabilities, discontinued operations		0	0	0	0	0	0	0	3,981	0	0	0
Restatement
ASSETS
Total current assets, discontinued operations		0	0	0	0	0	0	0	(515)	0	0	0
Total other assets, discontinued operations		0	0	0	0	0	0	0	(45,100)	0	0	0
LIABILITIES
Total current liabilities, discontinued operations		0	0	0	0	0	0	0	0	0	0	0
Non-current liabilities, discontinued operations		0	0	0	0	0	0	0	0	0	0	0
As Restated
ASSETS
Total current assets, discontinued operations		0	0	0	0	0	0	0	37,103	0	0	0
Total other assets, discontinued operations		0	0	0	0	0	0	0	109,040	0	0	0
LIABILITIES
Total current liabilities, discontinued operations		0	0	0	0	0	0	0	42,644	0	0	0
Non-current liabilities, discontinued operations		$ 0	$ 0	$ 0	0	0	$ 0	$ 0	$ 3,981	$ 0	$ 0	$ 0
Discontinued Operations \| Yucatan Foods \| As Reported
ASSETS
Cash and cash equivalents					652
Accounts receivable, less allowance for credit losses					8,078
Inventories					22,545
Prepaid expenses and other current assets					1,869
Total current assets, discontinued operations					33,144
Property and equipment, net					3,500
Operating lease right-of-use assets					2,061
Other assets					102
Total other assets, discontinued operations					11,063
Total assets, discontinued operations					44,207
LIABILITIES
Accounts payable					2,814
Accrued compensation					297
Other accrued liabilities					800
Current portion of lease liabilities					434
Total current liabilities, discontinued operations					4,345
Long-term lease liabilities					1,627
Non-current liabilities, discontinued operations					1,627
Total liabilities, discontinued operations					5,972
Discontinued Operations \| Yucatan Foods \| Restatement
ASSETS
Cash and cash equivalents					0
Accounts receivable, less allowance for credit losses					0
Inventories					(120)
Prepaid expenses and other current assets					(498)
Total current assets, discontinued operations					(618)
Property and equipment, net					0
Operating lease right-of-use assets					0
Other assets					0
Total other assets, discontinued operations					0
Total assets, discontinued operations					(618)
LIABILITIES
Accounts payable					0
Accrued compensation					0
Other accrued liabilities					(36)
Current portion of lease liabilities					0
Total current liabilities, discontinued operations					(36)
Long-term lease liabilities					0
Non-current liabilities, discontinued operations					0
Total liabilities, discontinued operations					(36)
Discontinued Operations \| Yucatan Foods \| As Restated
ASSETS
Cash and cash equivalents					652
Accounts receivable, less allowance for credit losses					8,078
Inventories					22,425
Prepaid expenses and other current assets					1,371
Total current assets, discontinued operations					32,526
Property and equipment, net					3,500
Operating lease right-of-use assets					2,061
Other assets					102
Total other assets, discontinued operations					11,063
Total assets, discontinued operations					43,589
LIABILITIES
Accounts payable					2,814
Accrued compensation					297
Other accrued liabilities					764
Current portion of lease liabilities					434
Total current liabilities, discontinued operations					4,309
Long-term lease liabilities					1,627
Non-current liabilities, discontinued operations					1,627
Total liabilities, discontinued operations					5,936
Discontinued Operations \| Yucatan Foods \| Trademarks/tradenames \| As Reported
ASSETS
Intangible assets, non-current					4,000
Discontinued Operations \| Yucatan Foods \| Trademarks/tradenames \| Restatement
ASSETS
Intangible assets, non-current					0
Discontinued Operations \| Yucatan Foods \| Trademarks/tradenames \| As Restated
ASSETS
Intangible assets, non-current					4,000
Discontinued Operations \| Yucatan Foods \| Customer relationships \| As Reported
ASSETS
Intangible assets, non-current					1,400
Discontinued Operations \| Yucatan Foods \| Customer relationships \| Restatement
ASSETS
Intangible assets, non-current					0
Discontinued Operations \| Yucatan Foods \| Customer relationships \| As Restated
ASSETS
Intangible assets, non-current					$ 1,400
Discontinued Operations \| Eat Smart \| As Reported
ASSETS
Cash and cash equivalents						136
Accounts receivable, less allowance for credit losses						28,583
Inventories						6,587
Prepaid expenses and other current assets						2,312
Total current assets, discontinued operations						37,618
Investment in non-public company, fair value						45,100
Property and equipment, net						59,273
Operating lease right-of-use assets						3,729
Goodwill						35,470
Other assets						80
Total other assets, discontinued operations						154,140
Total assets, discontinued operations						191,758
LIABILITIES
Accounts payable						31,271
Accrued compensation						4,550
Other accrued liabilities						4,041
Current portion of lease liabilities						2,289
Deferred revenue						493
Total current liabilities, discontinued operations						42,644
Long-term lease liabilities						3,252
Other non-current liabilities						729
Non-current liabilities, discontinued operations						3,981
Total liabilities, discontinued operations						46,625
Discontinued Operations \| Eat Smart \| Restatement
ASSETS
Cash and cash equivalents						0
Accounts receivable, less allowance for credit losses						0
Inventories						0
Prepaid expenses and other current assets						(515)
Total current assets, discontinued operations						(515)
Investment in non-public company, fair value						(45,100)
Property and equipment, net						0
Operating lease right-of-use assets						0
Goodwill						0
Other assets						0
Total other assets, discontinued operations						(45,100)
Total assets, discontinued operations						(45,615)
LIABILITIES
Accounts payable						0
Accrued compensation						0
Other accrued liabilities						350
Current portion of lease liabilities						0
Deferred revenue						(350)
Total current liabilities, discontinued operations						0
Long-term lease liabilities						0
Other non-current liabilities						0
Non-current liabilities, discontinued operations						0
Total liabilities, discontinued operations						0
Discontinued Operations \| Eat Smart \| As Restated
ASSETS
Cash and cash equivalents						136
Accounts receivable, less allowance for credit losses						28,583
Inventories						6,587
Prepaid expenses and other current assets						1,797
Total current assets, discontinued operations						37,103
Investment in non-public company, fair value						0
Property and equipment, net						59,273
Operating lease right-of-use assets						3,729
Goodwill						35,470
Other assets						80
Total other assets, discontinued operations						109,040
Total assets, discontinued operations						146,143
LIABILITIES
Accounts payable						31,271
Accrued compensation						4,550
Other accrued liabilities						4,391
Current portion of lease liabilities						2,289
Deferred revenue						143
Total current liabilities, discontinued operations						42,644
Long-term lease liabilities						3,252
Other non-current liabilities						729
Non-current liabilities, discontinued operations						3,981
Total liabilities, discontinued operations						46,625
Discontinued Operations \| Eat Smart \| Trademarks/tradenames \| As Reported
ASSETS
Intangible assets, non-current						8,228
Discontinued Operations \| Eat Smart \| Trademarks/tradenames \| Restatement
ASSETS
Intangible assets, non-current						0
Discontinued Operations \| Eat Smart \| Trademarks/tradenames \| As Restated
ASSETS
Intangible assets, non-current						8,228
Discontinued Operations \| Eat Smart \| Customer relationships \| As Reported
ASSETS
Intangible assets, non-current						2,260
Discontinued Operations \| Eat Smart \| Customer relationships \| Restatement
ASSETS
Intangible assets, non-current						0
Discontinued Operations \| Eat Smart \| Customer relationships \| As Restated
ASSETS
Intangible assets, non-current						$ 2,260

Organization, Basis of Presentation, and Summary of Significant Accounting Policies - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended											6 Months Ended			9 Months Ended		12 Months Ended
	May 28, 2023	Feb. 26, 2023	Nov. 27, 2022	Aug. 28, 2022	May 29, 2022	Feb. 27, 2022	Nov. 28, 2021	Aug. 29, 2021	Feb. 28, 2021	Nov. 29, 2020	Aug. 30, 2020	Nov. 27, 2022	Nov. 28, 2021	Nov. 29, 2020	Feb. 26, 2023	Feb. 27, 2022	May 28, 2023	May 29, 2022	May 30, 2021
Segment Reporting Information [Line Items]
Product sales	$ 31,145	$ 26,536	$ 21,864	$ 23,724	$ 28,107	$ 35,232	$ 25,601	$ 22,330	$ 27,807	$ 23,792	$ 22,675	$ 45,587					$ 103,269	$ 111,270	$ 100,874
Transferred over time
Segment Reporting Information [Line Items]
Product sales																	28,600	35,800	28,200
Transferred at point in time
Segment Reporting Information [Line Items]
Product sales																	74,600	73,600	70,300
Contract development and manufacturing organization
Segment Reporting Information [Line Items]
Product sales		18,015	16,205	18,268		24,801	21,401	17,789	18,770	18,283	16,716	34,473	$ 39,190	$ 34,999	$ 52,488	$ 63,991	76,378	86,353	75,789
Fermentation
Segment Reporting Information [Line Items]
Product sales		8,521	5,659	5,456		10,009	3,583	4,163	8,597	4,960	5,316	11,114	7,746	10,277	19,635	17,756	26,891	23,007	22,790
Other
Segment Reporting Information [Line Items]
Product sales		$ 0	$ 0	$ 0		$ 422	$ 617	$ 378	$ 440	$ 549	$ 643	$ 0	$ 995	$ 1,192	$ 0	$ 1,417	$ 0	$ 1,910	$ 2,295

- Definition

+ References

+ Details

Income Taxes (Tables)

12 Months Ended

May 28, 2023

Income Tax Disclosure [Abstract]

Schedule of Benefits and Provisions for Income Taxes

The (benefit) provision for income taxes from continuing operations consisted of the following:


(in thousands)	Year Ended
	May 28, 2023		May 29, 2022		May 30, 2021
			As Restated		As Restated
Current:
Federal	$	(1)	$	—	$	(38)
State	55		23		74
Foreign	—		356		56
Total	54		379		92

Deferred:
Federal	234		(4,936)		(5,983)
State	20		(654)		(459)
Total	254		(5,590)		(6,442)
Income tax provision (benefit)	$	308	$	(5,211)	$	(6,350)

Schedule of Actual Provisions for Income Taxes

The actual (benefit) provision for income taxes from continuing operations differs from the statutory U.S. federal income tax rate as follows:


(in thousands)	Year Ended
	May 28, 2023		May 29, 2022		May 30, 2021
			As Restated		As Restated
Tax at U.S. statutory rate (1)	$	(13,932)	$	(4,344)	$	(6,256)
State income taxes, net of federal benefit	(1,805)		(638)		(830)

Change in valuation allowance	19,461		(1,065)		2,597
Tax credit carryforwards	(611)		(436)		(606)
Other compensation-related activity	283		234		249
Impairment of goodwill	—		2,347		—
Foreign rate differential	(2,749)		(496)		(1,414)
Other	(339)		(813)		(90)
Income tax provision (benefit)	$	308	$	(5,211)	$	(6,350)

(1) Statutory rate was 21.0% for fiscal year 2023, 2022 and 2021.

Schedule of Deferred Tax Assets and Liabilities

Significant components of deferred tax assets and liabilities reported in the accompanying Consolidated Balance Sheets consisted of the following:


(in thousands)	Year Ended
	May 28, 2023		May 29, 2022
			As Restated
Deferred tax assets:
Accruals and reserves	$	1,798	$	1,753
Net operating loss carryforwards	44,618		28,957
Stock-based compensation	984		880
Research and AMT credit carryforwards	6,269		5,611
Lease liability	1,843		2,874
Limitations on business interest expense	8,614		3,504
Goodwill and other indefinite life intangibles	—		2,745
Other	434		752
Gross deferred tax assets	64,560		47,076

Valuation allowance	(52,510)		(36,531)
Net deferred tax assets	12,050		10,545

Deferred tax liabilities:
Depreciation and amortization	(10,526)		(8,594)
Goodwill and other indefinite life intangibles	(877)		—

Right of use asset	(1,027)		(2,077)
Deferred tax liabilities	(12,430)		(10,671)

Net deferred tax liabilities	$	(380)	$	(126)

Reconciliation of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:


(in thousands)	Year Ended
	May 28, 2023		May 29, 2022		May 30, 2021
			As Restated		As Restated
Unrecognized tax benefits – beginning of the period	$	1,041	$	958	$	836
Gross increases – prior-period tax positions	16		—		—

Gross increases – current-period tax positions	116		83		122


Unrecognized tax benefits – end of the period	$	1,173	$	1,041	$	958

Leases

12 Months Ended

May 28, 2023

Leases [Abstract]

Leases

Operating Leases

The Company has entered into various non-cancellable operating lease agreements for manufacturing and distribution facilities, equipment and office space. Right-of-use assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Right-of-use assets and liabilities are recognized at the lease commencement date based on the estimated present value of lease payments over the lease term. The Company leases facilities and equipment under operating lease agreements with various terms and conditions, which expire at various dates through fiscal year 2033. Certain of these leases have renewal options.

Finance Leases

On September 3, 2015, Lifecore leased an 80,950 square foot building in Chaska, MN, two miles from its current facility. The initial term of the lease was seven years with two five-year renewal options. In December 2022, Lifecore exercised one of the options to renew the lease for an additional five years. The lease contains a buyout option at any time during the renewal period with the purchase price equal to the mortgage balance on the lessor’s loan secured by the building. Gross assets recorded under finance leases, included in property and equipment, net, were $3.9 million and $3.8 million as of May 28, 2023 and May 29, 2022, respectively. Accumulated amortization associated with finance leases was $0.8 million and $0.7 million as of May 28, 2023 and May 29, 2022, respectively. The monthly lease payment was initially $34,000 and increases by 2.4% per year. Lifecore and the lessor made capital improvements prior to occupancy and thus the lease did not become effective until January 1, 2016. Lifecore is currently using the building for warehousing and final packaging.

The components of lease cost were as follows:


	Year Ended			Year Ended
(In thousands, except term and discount rate)	May 28, 2023			May 29, 2022
Finance lease cost:
Amortization of leased assets	$	119		$	113
Interest on lease liabilities	351			335
Operating lease cost	1,286			1,046
Variable lease cost and other	600			406
Sublease income	(53)			(90)
Total lease cost	$	2,303		$	1,810

Weighted-average remaining lease term:
Operating leases	7.69			8.54
Finance leases	4.57			0.59
Weighted-average discount rate:
Operating leases	4.60		%	4.61		%
Finance leases	11.40		%	10.01		%

The Company’s leases have original lease periods ending between 2023 and 2033. The Company’s maturity analysis of operating and finance lease liabilities as of May 28, 2023 are as follows:


(in thousands)	Operating Leases		Finance Leases		Total
2024	$	1,467	$	492	$	1,959
2025	1,217		496		1,713
2026	1,228		505		1,733
2027	1,234		517		1,751
2028	1,145		2,874		4,019
Thereafter	2,647		—		2,647
Total lease payments	8,938		4,884		13,822
Less: interest	(1,296)		(1,547)		(2,843)
Present value of lease liabilities	7,642		3,337		10,979
Less: current obligation of lease liabilities	(1,147)		(123)		(1,270)
Total long-term lease liabilities	$	6,495	$	3,214	$	9,709

Supplemental cash flow information related to leases are as follows:


	Year Ended		Year Ended
(in thousands)	May 28, 2023		May 29, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	2,067	$	1,578
Operating cash flows from finance leases	351		335
Financing cash flows from finance leases	96		129
Lease liabilities arising from obtaining right-of-use assets:
Operating leases	$	83	$	37

During May 2021 we entered into a transportation management, warehousing, and transportation services agreement with Castellini Company, LLC to outsource Curation Foods’ fresh packaged salads and vegetables logistics management, including transportation, warehousing and distribution. In connection with this arrangement, during the fiscal year ended May 30, 2021 the Company recorded a $1.7 million impairment of our operating lease right-of-use assets related to certain vehicle leases, which is included in Loss from discontinued operations within the Consolidated Statements of Operations.

As disclosed in Note 13 - Restructuring Costs, impairments of our operating lease right-of-use assets were recorded in Restructuring cost in the accompanying Consolidated Statements of Operations for the years ended May 28, 2023 and May 29, 2022. During the years ended May 28, 2023 and May 29, 2022, the Company recorded impairments related to the Curation Foods Santa Maria office lease of $0.6 million and $1.6 million, respectively, and our Curation Foods Los Angeles, California office lease of $0.1 million and $0.4 million, respectively.

Leases

Operating Leases

Finance Leases

The components of lease cost were as follows:


	Year Ended			Year Ended
(In thousands, except term and discount rate)	May 28, 2023			May 29, 2022
Finance lease cost:
Amortization of leased assets	$	119		$	113
Interest on lease liabilities	351			335
Operating lease cost	1,286			1,046
Variable lease cost and other	600			406
Sublease income	(53)			(90)
Total lease cost	$	2,303		$	1,810

Weighted-average remaining lease term:
Operating leases	7.69			8.54
Finance leases	4.57			0.59
Weighted-average discount rate:
Operating leases	4.60		%	4.61		%
Finance leases	11.40		%	10.01		%

The Company’s leases have original lease periods ending between 2023 and 2033. The Company’s maturity analysis of operating and finance lease liabilities as of May 28, 2023 are as follows:


(in thousands)	Operating Leases		Finance Leases		Total
2024	$	1,467	$	492	$	1,959
2025	1,217		496		1,713
2026	1,228		505		1,733
2027	1,234		517		1,751
2028	1,145		2,874		4,019
Thereafter	2,647		—		2,647
Total lease payments	8,938		4,884		13,822
Less: interest	(1,296)		(1,547)		(2,843)
Present value of lease liabilities	7,642		3,337		10,979
Less: current obligation of lease liabilities	(1,147)		(123)		(1,270)
Total long-term lease liabilities	$	6,495	$	3,214	$	9,709

Supplemental cash flow information related to leases are as follows:


	Year Ended		Year Ended
(in thousands)	May 28, 2023		May 29, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	2,067	$	1,578
Operating cash flows from finance leases	351		335
Financing cash flows from finance leases	96		129
Lease liabilities arising from obtaining right-of-use assets:
Operating leases	$	83	$	37

Goodwill and Intangible Assets - Narrative (Details) - USD ($)	12 Months Ended
	May 28, 2023	May 29, 2022	May 30, 2021	Feb. 26, 2023	Nov. 27, 2022	Aug. 28, 2022	Feb. 27, 2022	Nov. 28, 2021	Aug. 29, 2021	Feb. 28, 2021	Nov. 29, 2020	Aug. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 13,881,000	$ 13,881,000	$ 13,881,000	$ 13,881,000	$ 13,881,000	$ 13,881,000	$ 13,881,000	$ 13,881,000	$ 13,881,000	$ 13,881,000	$ 13,881,000	$ 13,881,000
Goodwill, period increase (decrease)	0	0
Amortization expense related to finite-lived intangible assets	$ 0	$ 300,000	$ 300,000

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	May 28, 2023	May 29, 2022	May 30, 2021
Product sales	$ 103,269	$ 111,270	$ 100,874
Cost of product sales	75,284	72,204	61,937
Gross profit	27,985	39,066	38,937
Operating costs and expenses:
Research and development	8,736	7,839	6,684
Selling, general and administrative	38,969	34,659	27,721
Restructuring costs	4,184	8,359	13,355
Total operating costs and expenses	49,781	50,857	47,760
Operating (loss) income	(21,796)	(11,791)	(8,823)
Interest income	68	81	48
Interest expense	(17,649)	(15,551)	(8,933)
Transition services income	349	5,814	0
Loss on debt extinguishment	(23,741)	0	(1,110)
Other income (expense), net	(1,159)	760	(10,969)
Net loss from continuing operations before taxes	(63,928)	(20,687)	(29,787)
Income tax (provision) benefit	(308)	5,211	6,350
Net loss from continuing operations	(64,236)	(15,476)	(23,437)
Discontinued operations:
Loss from discontinued operations	(35,327)	(101,929)	(10,289)
Income tax benefit	0	690	1,432
Loss from discontinued operations	(35,327)	(101,239)	(8,857)
Net loss	$ (99,563)	$ (116,715)	$ (32,294)
Basic net loss per share:
Loss from continuing operations (in dollars per share)	$ (2.14)	$ (0.53)	$ (0.80)
Loss from discontinued operations (in dollars per share)	(1.18)	(3.44)	(0.30)
Total basic net loss per share (in dollars per share)	(3.32)	(3.97)	(1.10)
Diluted net loss per share:
Loss from continuing operations (in dollars per share)	(2.14)	(0.53)	(0.80)
Loss from discontinued operations (in dollars per share)	(1.18)	(3.44)	(0.30)
Total diluted net loss per share (in dollars per share)	$ (3.32)	$ (3.97)	$ (1.10)
Shares used in per share computation:
Basic (in shares)	29,958	29,466	29,294
Diluted (in shares)	29,958	29,466	29,294
Revenue from Contract with Customer, Product and Service [Extensible Enumeration]	Product [Member]	Product [Member]	Product [Member]
Cost, Product and Service [Extensible Enumeration]	Product [Member]	Product [Member]	Product [Member]
BreatheWay
Operating costs and expenses:
Gain (loss) on disposition of business	$ (2,108)	$ 0	$ 0

Unaudited Quarterly Consolidated Financial Information - Income Statement (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended											6 Months Ended			9 Months Ended			12 Months Ended
	May 28, 2023	Feb. 26, 2023	Nov. 27, 2022	Aug. 28, 2022	May 29, 2022	Feb. 27, 2022	Nov. 28, 2021	Aug. 29, 2021	Feb. 28, 2021	Nov. 29, 2020	Aug. 30, 2020	Nov. 27, 2022	Nov. 28, 2021	Nov. 29, 2020	Feb. 26, 2023	Feb. 27, 2022	Feb. 28, 2021	May 28, 2023	May 29, 2022	May 30, 2021
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Product sales	$ 31,145	$ 26,536	$ 21,864	$ 23,724	$ 28,107	$ 35,232	$ 25,601	$ 22,330	$ 27,807	$ 23,792	$ 22,675	$ 45,587						$ 103,269	$ 111,270	$ 100,874
Cost of product sales		17,988	16,185	17,745		23,593	14,143	16,785	16,877	13,018	17,381	33,929						75,284	72,204	61,937
Gross profit	7,779	8,548	5,679	5,979	10,424	11,639	11,458	5,545	10,930	10,774	5,294	11,658						27,985	39,066	38,937
Operating costs and expenses:
Research and development		2,234	2,177	2,211		2,254	1,680	1,689	1,637	1,591	1,739	4,388						8,736	7,839	6,684
Selling, general and administrative		10,279	8,291	8,103		13,749	5,461	6,951	7,149	6,710	7,490	16,395						38,969	34,659	27,721
Legal settlement charge										0
Impairment of goodwill and long-lived and indefinite-lived assets			0									0							0
Restructuring costs		2,566	563	1,047		5,274	627	1,128	2,071	1,099	6,667	1,610						4,184	8,359	13,355
Total operating costs and expenses		15,079	11,031	9,253		21,277	7,768	9,768	10,857	9,400	15,896	20,285						49,781	50,857	47,760
Operating (loss) income		(6,531)	(5,352)	(3,274)		(9,638)	3,690	(4,223)	73	1,374	(10,602)	(8,627)						(21,796)	(11,791)	(8,823)
Dividend income										0	0
Interest income		22	16	15		20	19	27	13	10	8	31						68	81	48
Interest expense		(4,855)	(3,624)	(3,246)		(3,676)	(2,767)	(6,130)	(2,562)	(1,596)	(1,665)	(6,870)						(17,649)	(15,551)	(8,933)
Transition services income		78	24	44		5,473			(1,110)			68						349	5,814	0
Other income (expense), net		26	(261)	(242)		290	330	46	305	(9,706)	(1,519)	(502)						(1,159)	760	(10,969)
Net loss from continuing operations before taxes		(11,260)	(9,197)	(6,703)		(7,531)	1,272	(10,280)	(3,281)	(9,918)	(13,778)	(15,900)						(63,928)	(20,687)	(29,787)
Income tax provision (benefit)		(70)	(4)	(4)		(3,389)	6,275	1,807	1,530	1,528	3,788	(8)						(308)	5,211	6,350
Net loss from continuing operations	(36,998)	(11,330)	(9,201)	(6,707)	(3,630)	(10,920)	7,547	(8,473)	(1,751)	(8,390)	(9,990)	(15,908)						(64,236)	(15,476)	(23,437)
Discontinued operations:
Loss from discontinued operations		(25,177)	(3,605)	(4,259)		(6,552)	(42,591)	(1,196)	(4,304)	(4,037)	(3,239)	(7,864)						(35,327)	(101,929)	(10,289)
Income tax benefit						3,886	(3,427)	282	(923)	804	819							0	690	1,432
Loss from discontinued operations	$ (2,286)	(25,177)	(3,605)	(4,259)	$ (51,641)	(2,666)	(46,018)	(914)	(5,227)	(3,233)	(2,420)	(7,864)						(35,327)	(101,239)	(8,857)
Net loss		$ (36,507)	$ (12,806)	$ (10,966)		$ (13,586)	$ (38,471)	$ (9,387)	$ (6,978)	$ (11,623)	$ (12,410)	$ (23,772)	$ (47,858)		$ (60,279)	$ (61,444)	$ (31,011)	$ (99,563)	$ (116,715)	$ (32,294)
Basic net loss per share:
Net loss per basic share from continuing operations (in dollars per share)	$ (1.23)	$ (0.37)	$ (0.31)	$ (0.23)	$ (0.12)	$ (0.37)	$ 0.25	$ (0.29)	$ (0.06)	$ (0.29)	$ (0.34)	$ (0.54)						$ (2.14)	$ (0.53)	$ (0.80)
Net loss per basic share from discontinued operations (in dollars per share)	(0.09)	(0.83)	(0.12)	(0.14)	(1.76)	(0.09)	(1.56)	(0.03)	(0.18)	(0.11)	(0.08)	(0.26)						(1.18)	(3.44)	(0.30)
Total basic net loss per share (in dollars per share)	(1.32)	(1.20)	(0.43)	(0.37)	(1.88)	(0.46)	(1.31)	(0.32)	(0.24)	(0.40)	(0.42)	(0.80)						(3.32)	(3.97)	(1.10)
Diluted net loss per share:
Net loss per diluted share from continuing operations (in dollars per share)	(1.23)	(0.37)	(0.31)	(0.23)	(0.12)	(0.37)	0.25	(0.29)	(0.06)	(0.29)	(0.34)	(0.54)						(2.14)	(0.53)	(0.80)
Net loss per diluted share from discontinued operations (in dollars per share)	(0.09)	(0.83)	(0.12)	(0.14)	(1.76)	(0.09)	(1.56)	(0.03)	(0.18)	(0.11)	(0.08)	(0.26)						(1.18)	(3.44)	(0.30)
Total diluted net loss per share (in dollars per share)	$ (1.32)	$ (1.20)	$ (0.43)	$ (0.37)	$ (1.88)	$ (0.46)	$ (1.31)	$ (0.32)	$ (0.24)	$ (0.40)	$ (0.42)	$ (0.80)	$ (1.63)	$ (0.82)	$ (2.02)	$ (2.09)	$ (1.06)	$ (3.32)	$ (3.97)	$ (1.10)
Shares used in per share computation:
Basic (in shares)		30,304	29,634	29,577		29,482	29,471	29,424	29,323	29,280	29,242	29,605						29,958	29,466	29,294
Diluted (in shares)		30,304	29,634	29,577		29,482	29,471	29,424	29,323	29,280	29,242	29,605	29,448	29,261	29,838	29,459	29,282	29,958	29,466	29,294
BreatheWay
Operating costs and expenses:
Gain (loss) on disposition of business				$ (2,108)								$ (2,108)			$ (2,108)			$ (2,108)	$ 0	$ 0
After Discontinued Operations Restatement
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Product sales													$ 47,931	$ 46,468	72,123
Cost of product sales													30,928	30,401	51,917
Gross profit													17,003	16,067	20,206
Operating costs and expenses:
Research and development													3,369	3,330	6,621
Selling, general and administrative													12,412	14,200	26,675
Legal settlement charge														0
Impairment of goodwill and long-lived and indefinite-lived assets															0
Restructuring costs													1,755	7,766	4,176
Total operating costs and expenses													17,536	25,296	35,364
Operating (loss) income													(533)	(9,229)	(15,158)
Dividend income														0
Interest income													46	18	53
Interest expense													(8,897)	(3,261)	(11,725)
Transition services income															146
Other income (expense), net													376	(11,225)	(476)
Net loss from continuing operations before taxes													(9,008)	(23,697)	(27,160)
Income tax provision (benefit)													8,082	5,316	(78)
Net loss from continuing operations													(926)	(18,381)	(27,238)
Discontinued operations:
Loss from discontinued operations													(43,787)	(7,275)	(33,041)
Income tax benefit													(3,145)	1,623
Loss from discontinued operations													(46,932)	(5,652)	(33,041)
Net loss													$ (47,858)	$ (24,033)	$ (60,279)
Basic net loss per share:
Net loss per basic share from continuing operations (in dollars per share)													$ (0.04)	$ (0.63)	$ (0.91)
Net loss per basic share from discontinued operations (in dollars per share)													(1.59)	(0.19)	(1.11)
Total basic net loss per share (in dollars per share)													(1.63)	(0.82)	(2.02)
Diluted net loss per share:
Net loss per diluted share from continuing operations (in dollars per share)													(0.04)	(0.63)	(0.91)
Net loss per diluted share from discontinued operations (in dollars per share)													(1.59)	(0.19)	(1.11)
Total diluted net loss per share (in dollars per share)													$ (1.63)	$ (0.82)	$ (2.02)
Shares used in per share computation:
Basic (in shares)													29,448	29,261	29,838
Diluted (in shares)													29,448	29,261	29,838
After Discontinued Operations Restatement \| BreatheWay
Operating costs and expenses:
Gain (loss) on disposition of business															$ (2,108)
Discontinued Operations
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Product sales		$ 1,270	$ 17,111	19,652		$ 2,169	$ 17,889	$ 19,302				36,764							74,556	71,164
Cost of product sales		1,371	16,789	19,436		1,733	15,210	14,752				36,226							67,115	60,163
Gross profit		(101)	322	216		436	2,679	4,550				538							7,441	11,001
Operating costs and expenses:
Research and development		6	90	79		34	176	184				169							523	739
Selling, general and administrative		640	2,459	4,369		589	2,633	2,751				6,828							11,073	10,396
Impairment of goodwill and long-lived and indefinite-lived assets			1,300									1,300							46,089
Restructuring costs		0	0	0		0	0	0				0							0	0
Total operating costs and expenses		646	3,849	4,448		623	2,809	2,935				8,297							57,685	11,135
Operating (loss) income		(747)	(3,527)	(4,232)		(187)	(130)	1,615				(7,759)							(50,244)	(134)
Interest income		0	0	0		0	0	0				0							0	0
Interest expense		0	0	0		0	0	0				0							0	0
Transition services income		0	0	0		0						0							0
Other income (expense), net		0	0	0		0	0	0				0							0	0
Net loss from continuing operations before taxes		(747)	(3,527)	(4,232)		(187)	(130)	1,615				(7,759)							(50,244)	(134)
Income tax provision (benefit)		0	0	0		1,462	(1,043)	(289)				0							447	452
Net loss from continuing operations		(747)	(3,527)	(4,232)		1,275	(1,173)	1,326				(7,759)							(49,797)	318
Discontinued operations:
Loss from discontinued operations		747	3,527	4,232		187	130	(1,615)				7,759							50,244	134
Income tax benefit						(1,462)	1,043	289											(447)	(452)
Loss from discontinued operations		747	3,527	4,232		(1,275)	1,173	(1,326)				7,759							49,797	(318)
Net loss		$ 0	$ 0	$ 0		$ 0	$ 0	$ 0				$ 0							$ 0	$ 0
Basic net loss per share:
Net loss per basic share from continuing operations (in dollars per share)		$ (0.02)	$ (0.12)	$ (0.14)		$ 0.04	$ (0.04)	$ 0.05				$ (0.26)							$ (1.69)	$ 0.01
Net loss per basic share from discontinued operations (in dollars per share)		0.02	0.12	0.14		(0.04)	0.04	(0.05)				0.26							1.69	(0.01)
Total basic net loss per share (in dollars per share)		0	0	0		0	0	0				0							0	0
Diluted net loss per share:
Net loss per diluted share from continuing operations (in dollars per share)		(0.02)	(0.12)	(0.14)		0.04	(0.04)	0.05				(0.26)							(1.69)	0.01
Net loss per diluted share from discontinued operations (in dollars per share)		0.02	0.12	0.14		(0.04)	0.04	(0.05)				0.26							1.69	(0.01)
Total diluted net loss per share (in dollars per share)		$ 0	$ 0	$ 0		$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0		$ 0	$ 0
Shares used in per share computation:
Basic (in shares)		0	0	0		0	0	0				0							0	0
Diluted (in shares)		0	0	0		0	0	0	0	0	0	0	0	0	0	0	0		0	0
Discontinued Operations \| BreatheWay
Operating costs and expenses:
Gain (loss) on disposition of business				$ 0								$ 0
Discontinued Operations \| Before Discontinued Operations Restatement
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Product sales									$ 17,025	$ 107,136	$ 113,196
Cost of product sales									14,409	97,231	102,243
Gross profit									2,616	9,905	10,953
Operating costs and expenses:
Research and development									206	981	769
Selling, general and administrative									2,289	9,396	10,447
Legal settlement charge										0
Restructuring costs									0	563	1,737
Total operating costs and expenses									2,495	10,940	12,953
Operating (loss) income									121	(1,035)	(2,000)
Dividend income										281	281
Interest income									0	0	0
Interest expense									0	(1,239)	(1,239)
Transition services income									0
Other income (expense), net									0	(281)	(281)
Net loss from continuing operations before taxes									121	(2,274)	(3,239)
Income tax provision (benefit)									(1,133)	441	819
Net loss from continuing operations									(1,012)	(1,833)	(2,420)
Discontinued operations:
Loss from discontinued operations									(121)	2,274	3,239
Income tax benefit									1,133	(441)	(819)
Loss from discontinued operations									1,012	1,833	2,420
Net loss									$ 0	$ 0	$ 0
Basic net loss per share:
Net loss per basic share from continuing operations (in dollars per share)									$ (0.03)	$ (0.06)	$ (0.08)
Net loss per basic share from discontinued operations (in dollars per share)									0.03	0.06	0.08
Total basic net loss per share (in dollars per share)									0	0	0
Diluted net loss per share:
Net loss per diluted share from continuing operations (in dollars per share)									(0.03)	(0.06)	(0.08)
Net loss per diluted share from discontinued operations (in dollars per share)									0.03	0.06	0.08
Total diluted net loss per share (in dollars per share)									$ 0	$ 0	$ 0
Shares used in per share computation:
Basic (in shares)									0	0	0
Diluted (in shares)									0	0	0
Discontinued Operations \| After Discontinued Operations Restatement
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Product sales													$ 37,191	$ 220,331	$ 6,025	$ 7,016	$ 52,749
Cost of product sales													29,962	199,473	5,356	5,622	44,808
Gross profit													7,229	20,858	669	1,394	7,941
Operating costs and expenses:
Research and development													360	1,750	32	81	555
Selling, general and administrative													5,384	19,843	2,109	1,708	7,958
Legal settlement charge														0			0
Impairment of goodwill and long-lived and indefinite-lived assets															300
Restructuring costs													0	2,300	0	0	0
Total operating costs and expenses													5,744	23,893	2,441	1,789	8,513
Operating (loss) income													1,485	(3,035)	(1,772)	(395)	(572)
Dividend income														563
Interest income													0	0	0	0	0
Interest expense													0	(2,478)	0	0	0
Transition services income															0	0	0
Other income (expense), net													0	(562)	0	0	0
Net loss from continuing operations before taxes													1,485	(5,512)	(1,772)	(395)	(572)
Income tax provision (benefit)													(1,332)	1,260	0	130	127
Net loss from continuing operations													153	(4,252)	(1,772)	(265)	(445)
Discontinued operations:
Loss from discontinued operations													(1,485)	5,512	1,772	395	572
Income tax benefit													1,332	(1,260)		(130)	(127)
Loss from discontinued operations													(153)	4,252	1,772	265	445
Net loss													$ 0	$ 0	$ 0	$ 0	$ 0
Basic net loss per share:
Net loss per basic share from continuing operations (in dollars per share)													$ 0.01	$ (0.14)	$ (0.06)	$ (0.01)	$ (0.01)
Net loss per basic share from discontinued operations (in dollars per share)													(0.01)	0.14	0.06	0.01	0.01
Total basic net loss per share (in dollars per share)													0	0	0	0	0
Diluted net loss per share:
Net loss per diluted share from continuing operations (in dollars per share)													0.01	(0.14)	(0.06)	(0.01)	(0.01)
Net loss per diluted share from discontinued operations (in dollars per share)													(0.01)	0.14	0.06	0.01	0.01
Total diluted net loss per share (in dollars per share)													$ 0	$ 0	$ 0	$ 0	$ 0
Shares used in per share computation:
Basic (in shares)													0	0	0	0	0
Diluted (in shares)													0	0	0	0	0
Discontinued Operations \| After Discontinued Operations Restatement \| BreatheWay
Operating costs and expenses:
Gain (loss) on disposition of business															$ 0
Continuing Operations
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Product sales																$ 83,164	$ 74,274
Cost of product sales																54,522	47,278
Gross profit																28,642	26,996
Operating costs and expenses:
Research and development																5,624	4,968
Selling, general and administrative																26,162	21,348
Legal settlement charge																	0
Restructuring costs																7,028	9,837
Total operating costs and expenses																38,814	36,153
Operating (loss) income																(10,172)	(9,157)
Interest income																66	31
Interest expense																(12,573)	(5,823)
Transition services income																5,473	(1,110)
Other income (expense), net																666	(10,920)
Net loss from continuing operations before taxes																(16,540)	(26,979)
Income tax provision (benefit)																5,461	4,775
Net loss from continuing operations																(11,079)	(22,204)
Discontinued operations:
Loss from discontinued operations																(50,338)	(11,577)
Income tax benefit																(27)	2,770
Loss from discontinued operations																(50,365)	(8,807)
Net loss																$ (61,444)	$ (31,011)
Basic net loss per share:
Net loss per basic share from continuing operations (in dollars per share)																$ (0.38)	$ (0.76)
Net loss per basic share from discontinued operations (in dollars per share)																(1.71)	(0.30)
Total basic net loss per share (in dollars per share)																(2.09)	(1.06)
Diluted net loss per share:
Net loss per diluted share from continuing operations (in dollars per share)																(0.38)	(0.76)
Net loss per diluted share from discontinued operations (in dollars per share)																(1.71)	(0.30)
Total diluted net loss per share (in dollars per share)																$ (2.09)	$ (1.06)
Shares used in per share computation:
Basic (in shares)																29,459	29,282
Diluted (in shares)																29,459	29,282
As Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Product sales																			$ 185,786	$ 171,546
Cost of product sales																			135,416	121,075
Gross profit																			50,370	50,471
Operating costs and expenses:
Research and development																			7,841	7,423
Selling, general and administrative																			46,127	37,660
Impairment of goodwill and long-lived and indefinite-lived assets																			46,089
Restructuring costs																			8,961	3,759
Total operating costs and expenses																			109,018	50,605
Operating (loss) income																			(58,648)	(134)
Interest income																			81	48
Interest expense																			(17,357)	(10,387)
Transition services income																			5,814
Other income (expense), net																			641	111
Net loss from continuing operations before taxes																			(69,469)	(11,472)
Income tax provision (benefit)																			5,945	1,903
Net loss from continuing operations																			(63,524)	(9,569)
Discontinued operations:
Loss from discontinued operations																			(51,276)	(28,994)
Income tax benefit																			121	5,898
Loss from discontinued operations																			(51,155)	(23,096)
Net loss				$ (11,351)				$ (9,477)			$ (11,000)	$ (23,800)	$ (47,918)	$ (24,301)	$ (63,992)		$ (29,799)		$ (114,679)	$ (32,665)
Basic net loss per share:
Net loss per basic share from continuing operations (in dollars per share)																			$ (2.16)	$ (0.33)
Net loss per basic share from discontinued operations (in dollars per share)																			(1.74)	(0.79)
Total basic net loss per share (in dollars per share)																			(3.90)	(1.12)
Diluted net loss per share:
Net loss per diluted share from continuing operations (in dollars per share)																			(2.16)	(0.33)
Net loss per diluted share from discontinued operations (in dollars per share)																			(1.74)	(0.79)
Total diluted net loss per share (in dollars per share)		$ (1.33)	$ (0.42)	$ (0.38)		$ (0.45)	$ (1.30)	$ (0.32)	$ (0.19)	$ (0.45)	$ (0.38)	$ (0.80)	$ (1.63)	$ (0.83)	$ (2.14)		$ (1.02)		$ (3.90)	$ (1.12)
Shares used in per share computation:
Basic (in shares)																			29,466	29,294
Diluted (in shares)		30,304	29,634	29,577		29,482	29,471	29,424	29,323	29,280	29,242	29,605	29,448	29,261	29,838		29,282		29,466	29,294
As Reported \| BreatheWay
Operating costs and expenses:
Gain (loss) on disposition of business				$ (2,108)								$ (2,108)			$ (2,108)
As Reported \| Before Discontinued Operations Restatement
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Product sales		$ 27,600	$ 38,802	43,355		$ 37,399	$ 43,452	$ 41,632	$ 44,690	$ 130,904	$ 135,643	82,157
Cost of product sales		21,622	31,694	37,103		24,533	28,737	31,197	30,249	110,267	119,296	68,797
Gross profit		5,978	7,108	6,252		12,866	14,715	10,435	14,441	20,637	16,347	13,360
Operating costs and expenses:
Research and development		1,964	2,118	2,048		2,000	1,856	1,873	1,843	2,572	2,508	4,166
Selling, general and administrative		10,972	10,773	10,661		14,163	8,012	9,470	8,134	16,106	17,903	21,435
Legal settlement charge										1,763
Impairment of goodwill and long-lived and indefinite-lived assets			1,300									1,300
Restructuring costs		2,741	823	1,047		5,270	707	1,834	2,023	1,662	8,404	1,870
Total operating costs and expenses		15,677	15,014	13,756		21,433	10,575	13,177	12,000	22,103	28,815	28,771
Operating (loss) income		(9,699)	(7,906)	(7,504)		(8,567)	4,140	(2,742)	2,441	(1,466)	(12,468)	(15,411)
Dividend income										281	281
Interest income		22	16	15		20	19	27	13	10	8	31
Interest expense		(5,818)	(4,219)	(3,678)		(4,105)	(3,094)	(6,678)	(2,939)	(3,039)	(3,109)	(7,897)
Transition services income		70	0	0		5,473			(1,110)			0
Other income (expense), net		34	(336)	(180)		454	79	109	72	(11,787)	(21)	(515)
Net loss from continuing operations before taxes		(15,391)	(12,445)	(11,347)		(6,725)	1,144	(9,284)	(1,523)	(16,001)	(15,309)	(23,792)
Income tax provision (benefit)		(70)	(4)	(4)		87	3,085	1,651	58	2,700	4,309	(8)
Net loss from continuing operations		(15,461)	(12,449)	(11,351)		(6,638)	4,229	(7,633)	(1,465)	(13,301)	(11,000)	(23,800)
Discontinued operations:
Loss from discontinued operations		(24,731)	0	0		(6,859)	(42,409)	(2,305)	(4,192)	0	0	0
Income tax benefit						411	(261)	461	159	0	0
Loss from discontinued operations		(24,731)	0	0		(6,448)	(42,670)	(1,844)	(4,033)	0	0	0
Net loss		$ (40,192)	$ (12,449)	$ (11,351)		$ (13,086)	$ (38,441)	$ (9,477)	$ (5,498)	$ (13,301)	$ (11,000)	$ (23,800)
Basic net loss per share:
Net loss per basic share from continuing operations (in dollars per share)		$ (0.51)	$ (0.42)	$ (0.38)		$ (0.23)	$ 0.14	$ (0.26)	$ (0.05)	$ (0.45)	$ (0.38)	$ (0.80)
Net loss per basic share from discontinued operations (in dollars per share)		(0.82)	0	0		(0.22)	(1.44)	(0.06)	(0.14)	0	0	0
Total basic net loss per share (in dollars per share)		(1.33)	(0.42)	(0.38)		(0.45)	(1.30)	(0.32)	(0.19)	(0.45)	(0.38)	(0.80)
Diluted net loss per share:
Net loss per diluted share from continuing operations (in dollars per share)		(0.51)	(0.42)	(0.38)		(0.23)	0.14	(0.26)	(0.05)	(0.45)	(0.38)	(0.80)
Net loss per diluted share from discontinued operations (in dollars per share)		(0.82)	0	0		(0.22)	(1.44)	(0.06)	(0.14)	0	0	0
Total diluted net loss per share (in dollars per share)		$ (1.33)	$ (0.42)	$ (0.38)		$ (0.45)	$ (1.30)	$ (0.32)	$ (0.19)	$ (0.45)	$ (0.38)	$ (0.80)
Shares used in per share computation:
Basic (in shares)		30,304	29,634	29,577		29,482	29,471	29,424	29,323	29,280	29,242	29,605
Diluted (in shares)		30,304	29,634	29,577		29,482	29,471	29,424	29,323	29,280	29,242	29,605
As Reported \| After Discontinued Operations Restatement
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Product sales													$ 85,084	$ 266,547	77,748	$ 90,140	$ 126,629
Cost of product sales													59,934	229,564	58,178	58,507	90,739
Gross profit													25,150	36,983	19,570	31,633	35,890
Operating costs and expenses:
Research and development													3,729	5,080	6,128	5,722	5,523
Selling, general and administrative													17,482	34,009	31,201	27,659	27,968
Legal settlement charge														1,763			1,763
Impairment of goodwill and long-lived and indefinite-lived assets															300
Restructuring costs													2,541	10,066	4,611	7,530	2,826
Total operating costs and expenses													23,752	50,918	40,132	40,911	38,080
Operating (loss) income													1,398	(13,935)	(20,562)	(9,278)	(2,190)
Dividend income														563
Interest income													46	18	53	66	31
Interest expense													(9,772)	(6,148)	(13,715)	(13,877)	(6,609)
Transition services income															70	5,473	(1,110)
Other income (expense), net													188	(11,808)	(481)	642	64
Net loss from continuing operations before taxes													(8,140)	(31,310)	(34,635)	(16,974)	(9,814)
Income tax provision (benefit)													4,736	7,009	(78)	5,591	1,025
Net loss from continuing operations													(3,404)	(24,301)	(34,713)	(11,383)	(8,789)
Discontinued operations:
Loss from discontinued operations													(44,714)	0	(29,279)	(49,576)	(27,210)
Income tax benefit													200	0		(157)	6,200
Loss from discontinued operations													(44,514)	0	(29,279)	(49,733)	(21,010)
Net loss													$ (47,918)	$ (24,301)	$ (63,992)	$ (61,116)	$ (29,799)
Basic net loss per share:
Net loss per basic share from continuing operations (in dollars per share)													$ (0.12)	$ (0.83)	$ (1.16)	$ (0.39)	$ (0.30)
Net loss per basic share from discontinued operations (in dollars per share)													(1.51)	0	(0.98)	(1.69)	(0.72)
Total basic net loss per share (in dollars per share)													(1.63)	(0.83)	(2.14)	(2.08)	(1.02)
Diluted net loss per share:
Net loss per diluted share from continuing operations (in dollars per share)													(0.12)	(0.83)	(1.16)	(0.39)	(0.30)
Net loss per diluted share from discontinued operations (in dollars per share)													(1.51)	0	(0.98)	(1.69)	(0.72)
Total diluted net loss per share (in dollars per share)													$ (1.63)	$ (0.83)	$ (2.14)	$ (2.08)	$ (1.02)
Shares used in per share computation:
Basic (in shares)													29,448	29,261	29,838	29,459	29,282
Diluted (in shares)													29,448	29,261	29,838	29,459	29,282
As Reported \| After Discontinued Operations Restatement \| BreatheWay
Operating costs and expenses:
Gain (loss) on disposition of business															$ (2,108)
As Reported \| Continuing Operations \| After Discontinued Operations Restatement
Operating costs and expenses:
Income tax provision (benefit)														$ 7,009
Restatement
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Product sales																			$ 40	$ 492
Cost of product sales																			3,903	1,025
Gross profit																			(3,863)	(533)
Operating costs and expenses:
Research and development																			521	0
Selling, general and administrative																			(395)	457
Impairment of goodwill and long-lived and indefinite-lived assets																			0
Restructuring costs																			(602)	9,596
Total operating costs and expenses																			(476)	8,290
Operating (loss) income																			(3,387)	(8,823)
Interest income																			0	0
Interest expense																			1,806	1,454
Transition services income																			0
Other income (expense), net																			119	(11,080)
Net loss from continuing operations before taxes																			(1,462)	(18,449)
Income tax provision (benefit)																			(287)	4,899
Net loss from continuing operations																			(1,749)	(13,550)
Discontinued operations:
Loss from discontinued operations																			(409)	18,839
Income tax benefit																			122	(4,918)
Loss from discontinued operations																			(287)	13,921
Net loss				$ 385				$ 90			$ (1,410)	$ 28	$ 60	$ 268	$ 3,713		$ (1,212)		$ (2,036)	$ 371
Basic net loss per share:
Net loss per basic share from continuing operations (in dollars per share)																			$ (0.06)	$ (0.46)
Net loss per basic share from discontinued operations (in dollars per share)																			(0.01)	0.48
Total basic net loss per share (in dollars per share)																			(0.07)	0.02
Diluted net loss per share:
Net loss per diluted share from continuing operations (in dollars per share)																			(0.06)	(0.46)
Net loss per diluted share from discontinued operations (in dollars per share)																			(0.01)	0.48
Total diluted net loss per share (in dollars per share)		$ 0.13	$ (0.01)	$ 0.01		$ (0.01)	$ (0.01)	$ 0	$ (0.05)	$ 0.05	$ (0.04)	$ 0	$ 0	$ 0.01	$ 0.12		$ (0.04)		$ (0.07)	$ 0.02
Shares used in per share computation:
Basic (in shares)																			0	0
Diluted (in shares)		0	0	0		0	0	0	0	0	0	0	0	0	0		0		0	0
Restatement \| BreatheWay
Operating costs and expenses:
Gain (loss) on disposition of business				$ 0											$ 0
Restatement \| Before Discontinued Operations Restatement
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Product sales		$ 206	$ 173	21		$ 2	$ 38	$ 0	$ 142	$ 24	$ 228	$ 194
Cost of product sales		(2,263)	1,280	78		793	616	340	1,037	(18)	328	1,358
Gross profit		2,469	(1,107)	(57)		(791)	(578)	(340)	(895)	42	(100)	(1,164)
Operating costs and expenses:
Research and development		276	149	242		288	0	0	0	0	0	391
Selling, general and administrative		(53)	(23)	1,811		175	82	232	1,304	0	34	1,788
Legal settlement charge										(1,763)
Impairment of goodwill and long-lived and indefinite-lived assets			0									0
Restructuring costs		(175)	(260)	0		4	(80)	(706)	48	0	0	(260)
Total operating costs and expenses		48	(134)	(55)		467	2	(474)	1,352	(1,763)	34	(189)
Operating (loss) income		2,421	(973)	(2)		(1,258)	(580)	134	(2,247)	1,805	(134)	(975)
Dividend income										0	0
Interest income		0	0	0		0	0	0	0	0	0	0
Interest expense		963	595	432		429	327	548	377	204	205	1,027
Transition services income		8	24	44		0			0			68
Other income (expense), net		(8)	75	(62)		(164)	251	(63)	233	1,800	(1,779)	13
Net loss from continuing operations before taxes		3,384	(279)	412		(993)	(2)	619	(1,637)	3,809	(1,708)	133
Income tax provision (benefit)		0	0	0		(2,014)	2,147	(133)	339	(731)	298	0
Net loss from continuing operations		3,384	(279)	412		(3,007)	2,145	486	(1,298)	3,078	(1,410)	133
Discontinued operations:
Loss from discontinued operations		301	(78)	(27)		494	(52)	(506)	(233)	(1,763)	0	(105)
Income tax benefit						2,013	(2,123)	110	51	363	0
Loss from discontinued operations		301	(78)	(27)		2,507	(2,175)	(396)	(182)	(1,400)	0	(105)
Net loss		$ 3,685	$ (357)	$ 385		$ (500)	$ (30)	$ 90	$ (1,480)	$ 1,678	$ (1,410)	$ 28
Basic net loss per share:
Net loss per basic share from continuing operations (in dollars per share)		$ 0.12	$ (0.01)	$ 0.01		$ (0.10)	$ 0.07	$ 0.02	$ (0.04)	$ 0.10	$ (0.04)	$ 0
Net loss per basic share from discontinued operations (in dollars per share)		0.01	0	0		0.09	(0.08)	(0.02)	(0.01)	(0.05)	0	0
Total basic net loss per share (in dollars per share)		0.13	(0.01)	0.01		(0.01)	(0.01)	0	(0.05)	0.05	(0.04)	0
Diluted net loss per share:
Net loss per diluted share from continuing operations (in dollars per share)		0.12	(0.01)	0.01		(0.10)	0.07	0.02	(0.04)	0.10	(0.04)	0
Net loss per diluted share from discontinued operations (in dollars per share)		0.01	0	0		0.09	(0.08)	(0.02)	(0.01)	(0.05)	0	0
Total diluted net loss per share (in dollars per share)		$ 0.13	$ (0.01)	$ 0.01		$ (0.01)	$ (0.01)	$ 0	$ (0.05)	$ 0.05	$ (0.04)	$ 0
Shares used in per share computation:
Basic (in shares)		0	0	0		0	0	0	0	0	0	0
Diluted (in shares)		0	0	0		0	0	0	0	0	0	0
Restatement \| Before Discontinued Operations Restatement \| BreatheWay
Operating costs and expenses:
Gain (loss) on disposition of business				$ (2,108)								$ (2,108)
Restatement \| After Discontinued Operations Restatement
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Product sales													$ 38	$ 252	400	$ 40	$ 394
Cost of product sales													956	310	(905)	1,637	1,347
Gross profit													(918)	(58)	1,305	(1,597)	(953)
Operating costs and expenses:
Research and development													0	0	525	(17)	0
Selling, general and administrative													314	34	(2,417)	211	1,338
Legal settlement charge														(1,763)			(1,763)
Impairment of goodwill and long-lived and indefinite-lived assets															0
Restructuring costs													(786)	0	(435)	(502)	7,011
Total operating costs and expenses													(472)	(1,729)	(2,327)	(308)	6,586
Operating (loss) income													(446)	1,671	3,632	(1,289)	(7,539)
Dividend income														0
Interest income													0	0	0	0	0
Interest expense													875	409	1,990	1,304	786
Transition services income															76	0	0
Other income (expense), net													188	21	5	24	(10,984)
Net loss from continuing operations before taxes													617	2,101	5,703	39	(17,737)
Income tax provision (benefit)													2,014	(433)	0	0	3,877
Net loss from continuing operations													2,631	1,668	5,703	39	(13,860)
Discontinued operations:
Loss from discontinued operations													(558)	(1,763)	(1,990)	(367)	16,205
Income tax benefit													(2,013)	363		0	(3,557)
Loss from discontinued operations													(2,571)	(1,400)	(1,990)	(367)	12,648
Net loss													$ 60	$ 268	$ 3,713	$ (328)	$ (1,212)
Basic net loss per share:
Net loss per basic share from continuing operations (in dollars per share)													$ 0.09	$ 0.06	$ 0.19	$ 0	$ (0.47)
Net loss per basic share from discontinued operations (in dollars per share)													(0.09)	(0.05)	(0.07)	(0.01)	0.43
Total basic net loss per share (in dollars per share)													0	0.01	0.12	(0.01)	(0.04)
Diluted net loss per share:
Net loss per diluted share from continuing operations (in dollars per share)													0.09	0.06	0.19	0	(0.47)
Net loss per diluted share from discontinued operations (in dollars per share)													(0.09)	(0.05)	(0.07)	(0.01)	0.43
Total diluted net loss per share (in dollars per share)													$ 0	$ 0.01	$ 0.12	$ (0.01)	$ (0.04)
Shares used in per share computation:
Basic (in shares)													0	0	0	0	0
Diluted (in shares)													0	0	0	0	0
Restatement \| After Discontinued Operations Restatement \| BreatheWay
Operating costs and expenses:
Gain (loss) on disposition of business															$ 0
Restatement \| Continuing Operations \| After Discontinued Operations Restatement
Operating costs and expenses:
Income tax provision (benefit)														$ (433)
As Restated
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Product sales																			$ 185,826	$ 172,038
Cost of product sales																			139,319	122,100
Gross profit																			46,507	49,938
Operating costs and expenses:
Research and development																			8,362	7,423
Selling, general and administrative																			45,732	38,117
Impairment of goodwill and long-lived and indefinite-lived assets																			46,089
Restructuring costs																			8,359	13,355
Total operating costs and expenses																			108,542	58,895
Operating (loss) income																			(62,035)	(8,957)
Interest income																			81	48
Interest expense																			(15,551)	(8,933)
Transition services income																			5,814
Other income (expense), net																			760	(10,969)
Net loss from continuing operations before taxes																			(70,931)	(29,921)
Income tax provision (benefit)																			5,658	6,802
Net loss from continuing operations																			(65,273)	(23,119)
Discontinued operations:
Loss from discontinued operations																			(51,685)	(10,155)
Income tax benefit																			243	980
Loss from discontinued operations																			(51,442)	(9,175)
Net loss														$ (24,033)					$ (116,715)	$ (32,294)
Basic net loss per share:
Net loss per basic share from continuing operations (in dollars per share)																			$ (2.22)	$ (0.79)
Net loss per basic share from discontinued operations (in dollars per share)																			(1.75)	(0.31)
Total basic net loss per share (in dollars per share)																			(3.97)	(1.10)
Diluted net loss per share:
Net loss per diluted share from continuing operations (in dollars per share)																			(2.22)	(0.79)
Net loss per diluted share from discontinued operations (in dollars per share)																			(1.75)	(0.31)
Total diluted net loss per share (in dollars per share)		$ (1.20)	$ (0.43)	$ (0.37)		$ (0.46)	$ (1.31)	$ (0.32)	$ (0.24)	$ (0.40)	$ (0.42)	$ (0.80)	$ (1.63)	$ (0.82)	$ (2.02)		$ (1.06)		$ (3.97)	$ (1.10)
Shares used in per share computation:
Basic (in shares)																			29,466	29,294
Diluted (in shares)		30,304	29,634	29,577		29,482	29,471	29,424	29,323	29,280	29,242	29,605	29,448	29,261	29,838		29,282		29,466	29,294
As Restated \| Before Discontinued Operations Restatement
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Product sales		$ 27,806	$ 38,975	$ 43,376		$ 37,401	$ 43,490	$ 41,632	$ 44,832	$ 130,928	$ 135,871	$ 82,351
Cost of product sales		19,359	32,974	37,181		25,326	29,353	31,537	31,286	110,249	119,624	70,155
Gross profit		8,447	6,001	6,195		12,075	14,137	10,095	13,546	20,679	16,247	12,196
Operating costs and expenses:
Research and development		2,240	2,267	2,290		2,288	1,856	1,873	1,843	2,572	2,508	4,557
Selling, general and administrative		10,919	10,750	12,472		14,338	8,094	9,702	9,438	16,106	17,937	23,223
Legal settlement charge										0
Impairment of goodwill and long-lived and indefinite-lived assets			1,300									1,300
Restructuring costs		2,566	563	1,047		5,274	627	1,128	2,071	1,662	8,404	1,610
Total operating costs and expenses		15,725	14,880	13,701		21,900	10,577	12,703	13,352	20,340	28,849	28,582
Operating (loss) income		(7,278)	(8,879)	(7,506)		(9,825)	3,560	(2,608)	194	339	(12,602)	(16,386)
Dividend income										281	281
Interest income		22	16	15		20	19	27	13	10	8	31
Interest expense		(4,855)	(3,624)	(3,246)		(3,676)	(2,767)	(6,130)	(2,562)	(2,835)	(2,904)	(6,870)
Transition services income		78	24	44		5,473			(1,110)			68
Other income (expense), net		26	(261)	(242)		290	330	46	305	(9,987)	(1,800)	(502)
Net loss from continuing operations before taxes		(12,007)	(12,724)	(10,935)		(7,718)	1,142	(8,665)	(3,160)	(12,192)	(17,017)	(23,659)
Income tax provision (benefit)		(70)	(4)	(4)		(1,927)	5,232	1,518	397	1,969	4,607	(8)
Net loss from continuing operations		(12,077)	(12,728)	(10,939)		(9,645)	6,374	(7,147)	(2,763)	(10,223)	(12,410)	(23,667)
Discontinued operations:
Loss from discontinued operations		(24,430)	(78)	(27)		(6,365)	(42,461)	(2,811)	(4,425)	(1,763)	0	(105)
Income tax benefit						2,424	(2,384)	571	210	363	0
Loss from discontinued operations		(24,430)	(78)	(27)		(3,941)	(44,845)	(2,240)	(4,215)	(1,400)	0	(105)
Net loss		$ (36,507)	$ (12,806)	$ (10,966)		$ (13,586)	$ (38,471)	$ (9,387)	$ (6,978)	$ (11,623)	$ (12,410)	$ (23,772)
Basic net loss per share:
Net loss per basic share from continuing operations (in dollars per share)		$ (0.39)	$ (0.43)	$ (0.37)		$ (0.33)	$ 0.21	$ (0.24)	$ (0.09)	$ (0.35)	$ (0.42)	$ (0.80)
Net loss per basic share from discontinued operations (in dollars per share)		(0.81)	0	0		(0.13)	(1.52)	(0.08)	(0.15)	(0.05)	0	0
Total basic net loss per share (in dollars per share)		(1.20)	(0.43)	(0.37)		(0.46)	(1.31)	(0.32)	(0.24)	(0.40)	(0.42)	(0.80)
Diluted net loss per share:
Net loss per diluted share from continuing operations (in dollars per share)		(0.39)	(0.43)	(0.37)		(0.33)	0.21	(0.24)	(0.09)	(0.35)	(0.42)	(0.80)
Net loss per diluted share from discontinued operations (in dollars per share)		(0.81)	0	0		(0.13)	(1.52)	(0.08)	(0.15)	(0.05)	0	0
Total diluted net loss per share (in dollars per share)		$ (1.20)	$ (0.43)	$ (0.37)		$ (0.46)	$ (1.31)	$ (0.32)	$ (0.24)	$ (0.40)	$ (0.42)	$ (0.80)
Shares used in per share computation:
Basic (in shares)		30,304	29,634	29,577		29,482	29,471	29,424	29,323	29,280	29,242	29,605
Diluted (in shares)		30,304	29,634	29,577		29,482	29,471	29,424	29,323	29,280	29,242	29,605
As Restated \| Before Discontinued Operations Restatement \| BreatheWay
Operating costs and expenses:
Gain (loss) on disposition of business				$ (2,108)								$ (2,108)
As Restated \| After Discontinued Operations Restatement
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Product sales													$ 85,122	$ 266,799	$ 78,148	$ 90,180	$ 127,023
Cost of product sales													60,890	229,874	57,273	60,144	92,086
Gross profit													24,232	36,925	20,875	30,036	34,937
Operating costs and expenses:
Research and development													3,729	5,080	6,653	5,705	5,523
Selling, general and administrative													17,796	34,043	28,784	27,870	29,306
Legal settlement charge														0			0
Impairment of goodwill and long-lived and indefinite-lived assets															300
Restructuring costs													1,755	10,066	4,176	7,028	9,837
Total operating costs and expenses													23,280	49,189	37,805	40,603	44,666
Operating (loss) income													952	(12,264)	(16,930)	(10,567)	(9,729)
Dividend income														563
Interest income													46	18	53	66	31
Interest expense													(8,897)	(5,739)	(11,725)	(12,573)	(5,823)
Transition services income															146	5,473	(1,110)
Other income (expense), net													376	(11,787)	(476)	666	(10,920)
Net loss from continuing operations before taxes													(7,523)	(29,209)	(28,932)	(16,935)	(27,551)
Income tax provision (benefit)													6,750	6,576	(78)	5,591	4,902
Net loss from continuing operations													(773)	(22,633)	(29,010)	(11,344)	(22,649)
Discontinued operations:
Loss from discontinued operations													(45,272)	(1,763)	(31,269)	(49,943)	(11,005)
Income tax benefit													(1,813)	363		(157)	2,643
Loss from discontinued operations													(47,085)	(1,400)	(31,269)	(50,100)	(8,362)
Net loss													$ (47,858)	$ (24,033)	$ (60,279)	$ (61,444)	$ (31,011)
Basic net loss per share:
Net loss per basic share from continuing operations (in dollars per share)													$ (0.03)	$ (0.77)	$ (0.97)	$ (0.39)	$ (0.77)
Net loss per basic share from discontinued operations (in dollars per share)													(1.60)	(0.05)	(1.05)	(1.70)	(0.29)
Total basic net loss per share (in dollars per share)													(1.63)	(0.82)	(2.02)	(2.09)	(1.06)
Diluted net loss per share:
Net loss per diluted share from continuing operations (in dollars per share)													(0.03)	(0.77)	(0.97)	(0.39)	(0.77)
Net loss per diluted share from discontinued operations (in dollars per share)													(1.60)	(0.05)	(1.05)	(1.70)	(0.29)
Total diluted net loss per share (in dollars per share)													$ (1.63)	$ (0.82)	$ (2.02)	$ (2.09)	$ (1.06)
Shares used in per share computation:
Basic (in shares)													29,448	29,261	29,838	29,459	29,282
Diluted (in shares)													29,448	29,261	29,838	29,459	29,282
As Restated \| After Discontinued Operations Restatement \| BreatheWay
Operating costs and expenses:
Gain (loss) on disposition of business															$ (2,108)
As Restated \| Continuing Operations \| After Discontinued Operations Restatement
Operating costs and expenses:
Income tax provision (benefit)														$ 6,576

Property and Equipment - Narrative (Details) - USD ($)		3 Months Ended	6 Months Ended	9 Months Ended	12 Months Ended
Property and Equipment - Narrative (Details) - USD ($)	Jun. 02, 2022	Aug. 28, 2022	Nov. 27, 2022	Feb. 26, 2023	May 28, 2023	May 29, 2022	May 30, 2021
Property, Plant and Equipment [Line Items]
Depreciation and amortization expense					$ 10,300,000	$ 7,100,000	$ 5,300,000
Amortization of leased assets					119,000	113,000
Capitalized software development costs					400,000	300,000	400,000
Amortization related to computer software					500,000	400,000	400,000
Unamortized computer software cost					1,800,000	1,800,000
Capitalized interest					3,600,000	$ 2,100,000	1,800,000
Impairment, Long-Lived Asset, Held-for-Use, Statement of Income or Comprehensive Income [Extensible Enumeration]						Selling, general and administrative
Asset held for sale						$ 1,000,000
Impairment of long-lived assets to be disposed of						0
BreatheWay
Property, Plant and Equipment [Line Items]
Gain on Sale of BreatheWay		$ 2,108,000	$ 2,108,000	$ 2,108,000	2,108,000	0	0
Proceeds from divestiture of businesses		$ 3,135,000	$ 3,135,000	$ 3,135,000	3,135,000	0	$ 0
Discontinued Operations, Disposed of by Sale \| BreatheWay
Property, Plant and Equipment [Line Items]
Gain on Sale of BreatheWay	$ 2,100,000
Proceeds from divestiture of businesses	$ 3,100,000
Property and Equipment
Property, Plant and Equipment [Line Items]
Asset held for sale						100,000
Inventories
Property, Plant and Equipment [Line Items]
Asset held for sale						900,000
Yucatan Foods \| Property and Equipment
Property, Plant and Equipment [Line Items]
Impairment of property and equipment					$ 0	11,900,000
Curation Foods Santa Maria Office
Property, Plant and Equipment [Line Items]
Impairment of property and equipment						$ 3,700,000

Correction of Errors in Previously Reported Fiscal Year 2022 and 2021 Annual Financial Statements - Statement of Equity (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended									6 Months Ended			9 Months Ended			12 Months Ended
	Feb. 26, 2023	Nov. 27, 2022	Aug. 28, 2022	Feb. 27, 2022	Nov. 28, 2021	Aug. 29, 2021	Feb. 28, 2021	Nov. 29, 2020	Aug. 30, 2020	Nov. 27, 2022	Nov. 28, 2021	Nov. 29, 2020	Feb. 26, 2023	Feb. 27, 2022	Feb. 28, 2021	May 28, 2023	May 29, 2022	May 30, 2021
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)			29,513							29,513			29,513			29,513
Beginning balance	$ 71,143	$ 77,875	$ 87,823	$ 155,424	$ 193,117	$ 201,946	$ 207,997	$ 218,539	$ 229,835	$ 87,823	$ 201,946	$ 229,835	$ 87,823	$ 201,946	$ 229,835	$ 87,823	$ 201,946	$ 229,835
Issuance of stock under stock plans, net of shares withheld																	1
Taxes paid by Company for employee stock plans	(65)	(142)	(67)	(6)	(84)	(428)		(215)	(82)							(274)	(789)	(405)
Stock-based compensation	903	1,108	785	622	686	620	797	895	892							3,612	2,608	3,360
Net loss	(36,507)	(12,806)	(10,966)	(13,586)	(38,471)	(9,387)	(6,978)	(11,623)	(12,410)	(23,772)	(47,858)	(24,033)	(60,279)	(61,444)	(31,011)	(99,563)	(116,715)	(32,294)
Other comprehensive income, net of tax		286	300	104	176	366	387	401	304	586	542	705	586	646	1,092	$ 586	$ 772	1,450
Ending balance (in shares)																30,322	29,513
Ending balance	35,021	71,143	77,875	142,558	155,424	193,117	202,203	207,997	218,539	71,143	155,424	207,997	35,021	142,558	202,203	$ (4,230)	$ 87,823	201,946
As Reported
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	74,167	80,364	90,697	156,202	193,865	202,784	208,938	221,158	231,044	90,697	202,784	231,044	90,697	202,784	231,044	90,697	202,784	231,044
Issuance of stock under stock plans, net of shares withheld																	1
Taxes paid by Company for employee stock plans	(65)	(142)	(67)	(6)	(84)	(428)		(215)	(82)								(789)	(405)
Stock-based compensation	903	1,108	785	622	686	620	797	895	892								2,608	3,360
Net loss	(40,192)	(12,449)	(11,351)	(13,086)	(38,441)	(9,477)	(5,498)	(13,301)	(11,000)	(23,800)	(47,918)	(24,301)	(63,992)		(29,799)		(114,679)	(32,665)
Other comprehensive income, net of tax		286	300	104	176	366	387	401	304	586	542	705	586		1,092		772	1,450
Ending balance	34,207	74,167	80,364	143,724	156,202	193,865	204,624	208,938	221,158	74,167	156,202	208,938	34,207	143,724	204,624		90,697	202,784
Restatement
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(3,024)	(2,489)	(2,874)	(778)	(748)	(838)	(941)	(2,619)	(1,209)	(2,874)	(838)	(1,209)	(2,874)	(838)	(1,209)	$ (2,874)	(838)	(1,209)
Net loss	3,685	(357)	385	(500)	(30)	90	(1,480)	1,678	(1,410)	28	60	268	3,713		(1,212)		(2,036)	371
Other comprehensive income, net of tax		0	0	0	0	0	0	0	0	0	0	0	0		0		0	0
Ending balance	$ 814	$ (3,024)	$ (2,489)	$ (1,166)	$ (778)	$ (748)	$ (2,421)	$ (941)	$ (2,619)	$ (3,024)	$ (778)	$ (941)	$ 814	$ (1,166)	$ (2,421)		$ (2,874)	$ (838)
Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)	30,297	29,593	29,513	29,481	29,462	29,333	29,323	29,242	29,224	29,513	29,333	29,224	29,513	29,333	29,224	29,513	29,333	29,224
Beginning balance	$ 30	$ 30	$ 30	$ 29	$ 29	$ 29	$ 29	$ 29	$ 29	$ 30	$ 29	$ 29	$ 30	$ 29	$ 29	$ 30	$ 29	$ 29
Issuance of stock under stock plans, net of shares withheld (in shares)	22	76	80	1	19	129		81	18							181	180	109
Issuance of stock under stock plans, net of shares withheld																	$ 1
Ending balance (in shares)	30,319	30,297	29,593	29,482	29,481	29,462	29,323	29,323	29,242	30,297	29,481	29,323	30,319	29,482	29,323	30,322	29,513	29,333
Ending balance	$ 30	$ 30	$ 30	$ 29	$ 29	$ 29	$ 29	$ 29	$ 29	$ 30	$ 29	$ 29	$ 30	$ 29	$ 29	$ 30	$ 30	$ 29
Common Stock \| As Reported
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)	30,297	29,593	29,513	29,481	29,462	29,333	29,323	29,242	29,224	29,513	29,333	29,224	29,513	29,333	29,224	29,513	29,333	29,224
Beginning balance	$ 30	$ 30	$ 30	$ 29	$ 29	$ 29	$ 29	$ 29	$ 29	$ 30	$ 29	$ 29	$ 30	$ 29	$ 29	$ 30	$ 29	$ 29
Issuance of stock under stock plans, net of shares withheld (in shares)	22	76	80	1	19	129		81	18								180	109
Issuance of stock under stock plans, net of shares withheld																	$ 1
Ending balance (in shares)	30,319	30,297	29,593	29,482	29,481	29,462	29,323	29,323	29,242	30,297	29,481	29,323	30,319	29,482	29,323		29,513	29,333
Ending balance	$ 30	$ 30	$ 30	$ 29	$ 29	$ 29	$ 29	$ 29	$ 29	$ 30	$ 29	$ 29	$ 30	$ 29	$ 29		$ 30	$ 29
Additional Paid-in Capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	173,858	168,070	167,352	166,327	165,725	165,533	164,068	163,388	162,578	167,352	165,533	162,578	167,352	165,533	162,578	167,352	165,533	162,578
Taxes paid by Company for employee stock plans	(65)	(142)	(67)	(6)	(84)	(428)		(215)	(82)							(274)	(789)	(405)
Stock-based compensation	903	1,108	785	622	686	620	797	895	892							3,612	2,608	3,360
Ending balance	174,243	173,858	168,070	166,943	166,327	165,725	164,865	164,068	163,388	173,858	166,327	164,068	174,243	166,943	164,865	174,276	167,352	165,533
Additional Paid-in Capital \| As Reported
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	174,036	168,070	167,352	166,327	165,725	165,533	164,068	163,388	162,578	167,352	165,533	162,578	167,352	165,533	162,578	167,352	165,533	162,578
Taxes paid by Company for employee stock plans	(65)	(142)	(67)	(6)	(84)	(428)		(215)	(82)								(789)	(405)
Stock-based compensation	903	1,108	785	622	686	620	797	895	892								2,608	3,360
Ending balance	174,268	174,036	168,070	166,943	166,327	165,725	164,865	164,068	163,388	174,036	166,327	164,068	174,268	166,943	164,865		167,352	165,533
Retained Earnings (Accumulated Deficit)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(102,745)	(89,939)	(78,973)	(10,116)	28,355	37,742	46,003	57,626	70,036	(78,973)	37,742	70,036	(78,973)	37,742	70,036	(78,973)	37,742	70,036
Net loss	(36,507)	(12,806)	(10,966)	(13,586)	(38,471)	(9,387)	(6,978)	(11,623)	(12,410)							(99,563)	(116,715)	(32,294)
Ending balance	(139,252)	(102,745)	(89,939)	(23,702)	(10,116)	28,355	39,025	46,003	57,626	(102,745)	(10,116)	46,003	(139,252)	(23,702)	39,025	(178,536)	(78,973)	37,742
Retained Earnings (Accumulated Deficit) \| As Reported
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(99,899)	(87,450)	(76,099)	(9,338)	29,103	38,580	46,944	60,245	71,245	(76,099)	38,580	71,245	(76,099)	38,580	71,245	(76,099)	38,580	71,245
Net loss	(40,192)	(12,449)	(11,351)	(13,086)	(38,441)	(9,477)	(5,498)	(13,301)	(11,000)								(114,679)	(32,665)
Ending balance	(140,091)	(99,899)	(87,450)	(22,424)	(9,338)	29,103	41,446	46,944	60,245	(99,899)	(9,338)	46,944	(140,091)	(22,424)	41,446		(76,099)	38,580
Retained Earnings (Accumulated Deficit) \| Restatement
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(2,846)	(2,489)	(2,874)	(666)	(748)	(838)	(941)	(2,619)	(1,209)	(2,874)	(838)	(1,209)	(2,874)	(838)	(1,209)	(2,874)	(838)	(1,209)
Net loss	3,685	(357)	385	(500)	(30)	90	(1,480)	1,678	(1,410)								(2,036)	371
Ending balance		(2,846)	(2,489)		(666)	(748)		(941)	(2,619)	(2,846)	(666)	(941)					(2,874)	(838)
Accumulated Other Comprehensive Loss
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	0	(286)	(586)	(816)	(992)	(1,358)	(2,103)	(2,504)	(2,808)	(586)	(1,358)	(2,808)	(586)	(1,358)	(2,808)	(586)	(1,358)	(2,808)
Other comprehensive income, net of tax		286	300	104	176	366	387	401	304							586	772	1,450
Ending balance	0	0	(286)	(712)	(816)	(992)	(1,716)	(2,103)	(2,504)	0	(816)	(2,103)	0	(712)	(1,716)	0	(586)	(1,358)
Accumulated Other Comprehensive Loss \| As Reported
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	0	(286)	(586)	(816)	(992)	(1,358)	(2,103)	(2,504)	(2,808)	(586)	(1,358)	(2,808)	(586)	(1,358)	(2,808)	$ (586)	(1,358)	(2,808)
Other comprehensive income, net of tax		286	300	104	176	366	387	401	304								772	1,450
Ending balance	$ 0	$ 0	$ (286)	$ (712)	$ (816)	$ (992)	$ (1,716)	$ (2,103)	$ (2,504)	$ 0	$ (816)	$ (2,103)	$ 0	$ (712)	$ (1,716)		$ (586)	$ (1,358)

Organization, Basis of Presentation, and Summary of Significant Accounting Policies - Concentration of Risk (Details) - Customer Concentration Risk	12 Months Ended
	May 28, 2023	May 29, 2022	May 30, 2021
Revenue \| Customer A
Related Party Transaction [Line Items]
Concentration risk	39.00%	26.00%	32.00%
Revenue \| Customer B
Related Party Transaction [Line Items]
Concentration risk	18.00%	22.00%	23.00%
Revenue \| Customer C
Related Party Transaction [Line Items]
Concentration risk		14.00%	12.00%
Accounts Receivable \| Customer A
Related Party Transaction [Line Items]
Concentration risk	31.00%	33.00%
Accounts Receivable \| Customer B
Related Party Transaction [Line Items]
Concentration risk	18.00%	16.00%

Goodwill and Intangible Assets (Tables)

12 Months Ended

May 28, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Indefinite-Lived Intangible Assets

As of May 28, 2023 and May 29, 2022, the Company's intangible assets consisted of the following (in thousands):


		May 28, 2023				May 29, 2022
	Amortization Period (years)	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Customer relationships
Lifecore	12	$	3,700	$	3,700	$	3,700	$	3,700
Total customer relationships		$	3,700	$	3,700	$	3,700	$	3,700
Trademarks/tradenames
Lifecore		$	4,200	$	—	$	4,200	$	—
Total trademarks/tradenames		$	4,200	$	—	$	4,200	$	—
Total intangible assets		$	7,900	3,700		$	7,900	$	3,700

Schedule of Finite-Lived Intangible Assets

As of May 28, 2023 and May 29, 2022, the Company's intangible assets consisted of the following (in thousands):


		May 28, 2023				May 29, 2022
	Amortization Period (years)	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Customer relationships
Lifecore	12	$	3,700	$	3,700	$	3,700	$	3,700
Total customer relationships		$	3,700	$	3,700	$	3,700	$	3,700
Trademarks/tradenames
Lifecore		$	4,200	$	—	$	4,200	$	—
Total trademarks/tradenames		$	4,200	$	—	$	4,200	$	—
Total intangible assets		$	7,900	3,700		$	7,900	$	3,700

Organization, Basis of Presentation, and Summary of Significant Accounting Policies (Tables)

12 Months Ended

May 28, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Components of AOCL, Net of Tax

The components of AOCL, net of tax, are as follows (in thousands):


	AOCL
Balance as of May 31, 2020	$	(2,808)
Other comprehensive income before reclassifications, net of tax effect	(344)
Amounts reclassified from OCI	1,794
Other comprehensive income, net	1,450
Balance as of May 30, 2021	(1,358)
Amounts reclassified from OCI	772
Other comprehensive income, net	772
Balance as of May 29, 2022	(586)

Amounts reclassified from OCI	586
Other comprehensive income, net	586
Balance as of May 28, 2023	$	—

Schedule of Accounts, Notes, Loans and Financing Receivable

The changes in the allowance for credit losses related to accounts receivable are as follows (in thousands):


	Year Ended
	May 28, 2023		May 29, 2022		May 30, 2021
			As Restated		As Restated
Beginning balance	$	522	$	522	$	—
Provision	163		—		773
Charge-offs	(200)		—		(251)

Ending Balance	$	485	$	522	$	522

Disaggregation of Revenue


	Year Ended
	May 28, 2023		May 29, 2022		May 30, 2021
			As Restated		As Restated
Contract development and manufacturing organization	$	76,378	$	86,353	$	75,789
Fermentation	26,891		23,007		22,790
Other	—		1,910		2,295
Total	$	103,269	$	111,270	$	100,874

Schedule of Cash and Cash Equivalents


	May 28, 2023		May 29, 2022		May 30, 2021
			As Restated		As Restated
Cash and cash equivalents – Consolidated Balance Sheet	$	19,091	$	991	$	763

Cash and cash equivalents, discontinued operations	—		652		532
Cash and cash equivalents – Consolidated Statement of Cash Flow	$	19,091	$	1,643	$	1,295

Schedule of Inventories

As of May 28, 2023 and May 29, 2022, inventories consisted of the following (in thousands):


	Year Ended
	May 28, 2023		May 29, 2022
			As Restated
Finished goods	$	13,141	$	13,397
Raw materials	17,351		15,488
Work in progress	10,349		7,115
Total inventories	$	40,841	$	36,000

Schedule of Diluted Net (Loss) Income Per Share

The following table sets forth the computation of diluted net loss per share:


	Year Ended
(in thousands, except per share amounts)	May 28, 2023		May 29, 2022		May 30, 2021
			As Restated		As Restated
Numerator:
Net loss	$	(99,563)	$	(116,715)	$	(32,294)

Denominator:
Weighted average shares for basic net loss per share	29,958		29,466		29,294


Weighted average shares for diluted net loss per share	29,958		29,466		29,294

Diluted net loss per share	$	(3.32)	$	(3.97)	$	(1.10)

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following table summarizes the fair value of the Company’s assets and liabilities that are measured at fair value on a recurring and non-recurring basis (in thousands):


	Fair Value at May 28, 2023						Fair Value at May 29, 2022
Assets:	Level 1		Level 2		Level 3		Level 1		Level 2		Level 3
Assets held for sale - nonrecurring	$	—	$	—	$	—	$	—	$	—	$	1,027




Total assets	$	—	$	—	$	—	$	—	$	—	$	1,027
Liabilities:
Debt derivative liability	$	—	$	—	$	64,900	$	—	$	—	$	—

Total liabilities	$	—	$	—	$	64,900			$	—	$	—

Fair Value Measurement Inputs and Valuation Techniques

The key inputs to the valuation models that were utilized to estimate the fair value of the debt derivative liability were as follows as of May 28, 2023:


						Debt Derivative Liability
Assumptions
Discount rate						22.3% — 24.5%
Implied spread						18.5%
Risk free rate						3.8% — 6.0%

Schedule of Fair Value Reconciliation of Level 3

The following table reflects the fair value roll forward reconciliation of Level 3 assets and liabilities measured at fair value for the twelve months ended May 29, 2022 (in thousands):


	Windset Investment (As Restated)
Balance as of May 30, 2021	$	44,769
Sale of Investment in non-public company	(44,769)
Balance as of May 29, 2022	$	—

CONSOLIDATED STATEMENTS OF CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS’ (DEFICIT) EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Retained Earnings (Accumulated Deficit)	Accumulated Other Comprehensive Loss
Convertible Preferred Stock, beginning balance (in shares) at May. 31, 2020	0
Convertible Preferred Stock, beginning balance at May. 31, 2020	$ 0
Convertible Preferred Stock, ending balance (in shares) at Aug. 30, 2020	0
Convertible Preferred Stock, ending balance at Aug. 30, 2020	$ 0
Beginning balance (in shares) at May. 31, 2020		29,224,000
Beginning balance at May. 31, 2020	229,835	$ 29	$ 162,578	$ 70,036	$ (2,808)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of stock under stock plans, net of shares withheld (in shares)		18,000
Taxes paid by Company for employee stock plans	(82)		(82)
Stock-based compensation	892		892
Net loss	(12,410)			(12,410)
Other comprehensive income, net of tax	304				304
Ending balance (in shares) at Aug. 30, 2020		29,242,000
Ending balance at Aug. 30, 2020	$ 218,539	$ 29	163,388	57,626	(2,504)
Convertible Preferred Stock, beginning balance (in shares) at May. 31, 2020	0
Convertible Preferred Stock, beginning balance at May. 31, 2020	$ 0
Convertible Preferred Stock, ending balance (in shares) at Nov. 29, 2020	0
Convertible Preferred Stock, ending balance at Nov. 29, 2020	$ 0
Beginning balance (in shares) at May. 31, 2020		29,224,000
Beginning balance at May. 31, 2020	229,835	$ 29	162,578	70,036	(2,808)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(24,033)
Other comprehensive income, net of tax	705
Ending balance (in shares) at Nov. 29, 2020		29,323,000
Ending balance at Nov. 29, 2020	$ 207,997	$ 29	164,068	46,003	(2,103)
Convertible Preferred Stock, beginning balance (in shares) at May. 31, 2020	0
Convertible Preferred Stock, beginning balance at May. 31, 2020	$ 0
Convertible Preferred Stock, ending balance (in shares) at Feb. 28, 2021	0
Convertible Preferred Stock, ending balance at Feb. 28, 2021	$ 0
Beginning balance (in shares) at May. 31, 2020		29,224,000
Beginning balance at May. 31, 2020	229,835	$ 29	162,578	70,036	(2,808)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(31,011)
Other comprehensive income, net of tax	1,092
Ending balance (in shares) at Feb. 28, 2021		29,323,000
Ending balance at Feb. 28, 2021	$ 202,203	$ 29	164,865	39,025	(1,716)
Convertible Preferred Stock, beginning balance (in shares) at May. 31, 2020	0
Convertible Preferred Stock, beginning balance at May. 31, 2020	$ 0
Convertible Preferred Stock, ending balance (in shares) at May. 30, 2021	0
Convertible Preferred Stock, ending balance at May. 30, 2021	$ 0
Beginning balance (in shares) at May. 31, 2020		29,224,000
Beginning balance at May. 31, 2020	229,835	$ 29	162,578	70,036	(2,808)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of stock under stock plans, net of shares withheld (in shares)		109,000
Convertible Preferred Stock Paid in Kind (PIK) dividend	0
Taxes paid by Company for employee stock plans	(405)		(405)
Stock-based compensation	3,360		3,360
Net loss	(32,294)			(32,294)
Other comprehensive income, net of tax	1,450				1,450
Ending balance (in shares) at May. 30, 2021		29,333,000
Ending balance at May. 30, 2021	$ 201,946	$ 29	165,533	37,742	(1,358)
Convertible Preferred Stock, beginning balance (in shares) at Aug. 30, 2020	0
Convertible Preferred Stock, beginning balance at Aug. 30, 2020	$ 0
Convertible Preferred Stock, ending balance (in shares) at Nov. 29, 2020	0
Convertible Preferred Stock, ending balance at Nov. 29, 2020	$ 0
Beginning balance (in shares) at Aug. 30, 2020		29,242,000
Beginning balance at Aug. 30, 2020	218,539	$ 29	163,388	57,626	(2,504)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of stock under stock plans, net of shares withheld (in shares)		81,000
Taxes paid by Company for employee stock plans	(215)		(215)
Stock-based compensation	895		895
Net loss	(11,623)			(11,623)
Other comprehensive income, net of tax	401				401
Ending balance (in shares) at Nov. 29, 2020		29,323,000
Ending balance at Nov. 29, 2020	$ 207,997	$ 29	164,068	46,003	(2,103)
Convertible Preferred Stock, ending balance (in shares) at Feb. 28, 2021	0
Convertible Preferred Stock, ending balance at Feb. 28, 2021	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	797		797
Net loss	(6,978)			(6,978)
Other comprehensive income, net of tax	387				387
Ending balance (in shares) at Feb. 28, 2021		29,323,000
Ending balance at Feb. 28, 2021	$ 202,203	$ 29	164,865	39,025	(1,716)
Convertible Preferred Stock, beginning balance (in shares) at May. 30, 2021	0
Convertible Preferred Stock, beginning balance at May. 30, 2021	$ 0
Convertible Preferred Stock, ending balance (in shares) at Aug. 29, 2021	0
Convertible Preferred Stock, ending balance at Aug. 29, 2021	$ 0
Beginning balance (in shares) at May. 30, 2021		29,333,000
Beginning balance at May. 30, 2021	201,946	$ 29	165,533	37,742	(1,358)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of stock under stock plans, net of shares withheld (in shares)		129,000
Taxes paid by Company for employee stock plans	(428)		(428)
Stock-based compensation	620		620
Net loss	(9,387)			(9,387)
Other comprehensive income, net of tax	366				366
Ending balance (in shares) at Aug. 29, 2021		29,462,000
Ending balance at Aug. 29, 2021	$ 193,117	$ 29	165,725	28,355	(992)
Convertible Preferred Stock, beginning balance (in shares) at May. 30, 2021	0
Convertible Preferred Stock, beginning balance at May. 30, 2021	$ 0
Convertible Preferred Stock, ending balance (in shares) at Nov. 28, 2021	0
Convertible Preferred Stock, ending balance at Nov. 28, 2021	$ 0
Beginning balance (in shares) at May. 30, 2021		29,333,000
Beginning balance at May. 30, 2021	201,946	$ 29	165,533	37,742	(1,358)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(47,858)
Other comprehensive income, net of tax	542
Ending balance (in shares) at Nov. 28, 2021		29,481,000
Ending balance at Nov. 28, 2021	$ 155,424	$ 29	166,327	(10,116)	(816)
Convertible Preferred Stock, beginning balance (in shares) at May. 30, 2021	0
Convertible Preferred Stock, beginning balance at May. 30, 2021	$ 0
Convertible Preferred Stock, ending balance (in shares) at Feb. 27, 2022	0
Convertible Preferred Stock, ending balance at Feb. 27, 2022	$ 0
Beginning balance (in shares) at May. 30, 2021		29,333,000
Beginning balance at May. 30, 2021	201,946	$ 29	165,533	37,742	(1,358)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(61,444)
Other comprehensive income, net of tax	646
Ending balance (in shares) at Feb. 27, 2022		29,482,000
Ending balance at Feb. 27, 2022	$ 142,558	$ 29	166,943	(23,702)	(712)
Convertible Preferred Stock, beginning balance (in shares) at May. 30, 2021	0
Convertible Preferred Stock, beginning balance at May. 30, 2021	$ 0
Convertible Preferred Stock, ending balance (in shares) at May. 29, 2022	0
Convertible Preferred Stock, ending balance at May. 29, 2022	$ 0
Beginning balance (in shares) at May. 30, 2021		29,333,000
Beginning balance at May. 30, 2021	201,946	$ 29	165,533	37,742	(1,358)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of stock under stock plans, net of shares withheld (in shares)		180,000
Issuance of stock under stock plans, net of shares withheld	1	$ 1
Convertible Preferred Stock Paid in Kind (PIK) dividend	0
Taxes paid by Company for employee stock plans	(789)		(789)
Stock-based compensation	2,608		2,608
Net loss	(116,715)			(116,715)
Other comprehensive income, net of tax	$ 772				772
Ending balance (in shares) at May. 29, 2022	29,513,000	29,513,000
Ending balance at May. 29, 2022	$ 87,823	$ 30	167,352	(78,973)	(586)
Convertible Preferred Stock, beginning balance (in shares) at Aug. 29, 2021	0
Convertible Preferred Stock, beginning balance at Aug. 29, 2021	$ 0
Convertible Preferred Stock, ending balance (in shares) at Nov. 28, 2021	0
Convertible Preferred Stock, ending balance at Nov. 28, 2021	$ 0
Beginning balance (in shares) at Aug. 29, 2021		29,462,000
Beginning balance at Aug. 29, 2021	193,117	$ 29	165,725	28,355	(992)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of stock under stock plans, net of shares withheld (in shares)		19,000
Taxes paid by Company for employee stock plans	(84)		(84)
Stock-based compensation	686		686
Net loss	(38,471)			(38,471)
Other comprehensive income, net of tax	176				176
Ending balance (in shares) at Nov. 28, 2021		29,481,000
Ending balance at Nov. 28, 2021	$ 155,424	$ 29	166,327	(10,116)	(816)
Convertible Preferred Stock, ending balance (in shares) at Feb. 27, 2022	0
Convertible Preferred Stock, ending balance at Feb. 27, 2022	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of stock under stock plans, net of shares withheld (in shares)		1,000
Taxes paid by Company for employee stock plans	(6)		(6)
Stock-based compensation	622		622
Net loss	(13,586)			(13,586)
Other comprehensive income, net of tax	104				104
Ending balance (in shares) at Feb. 27, 2022		29,482,000
Ending balance at Feb. 27, 2022	$ 142,558	$ 29	166,943	(23,702)	(712)
Convertible Preferred Stock, beginning balance (in shares) at May. 29, 2022	0
Convertible Preferred Stock, beginning balance at May. 29, 2022	$ 0
Convertible Preferred Stock, ending balance (in shares) at Aug. 28, 2022	0
Convertible Preferred Stock, ending balance at Aug. 28, 2022	$ 0
Beginning balance (in shares) at May. 29, 2022	29,513,000	29,513,000
Beginning balance at May. 29, 2022	$ 87,823	$ 30	167,352	(78,973)	(586)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of stock under stock plans, net of shares withheld (in shares)		80,000
Taxes paid by Company for employee stock plans	(67)		(67)
Stock-based compensation	785		785
Net loss	(10,966)			(10,966)
Other comprehensive income, net of tax	300				300
Ending balance (in shares) at Aug. 28, 2022		29,593,000
Ending balance at Aug. 28, 2022	$ 77,875	$ 30	168,070	(89,939)	(286)
Convertible Preferred Stock, beginning balance (in shares) at May. 29, 2022	0
Convertible Preferred Stock, beginning balance at May. 29, 2022	$ 0
Convertible Preferred Stock, ending balance (in shares) at Nov. 27, 2022	0
Convertible Preferred Stock, ending balance at Nov. 27, 2022	$ 0
Beginning balance (in shares) at May. 29, 2022	29,513,000	29,513,000
Beginning balance at May. 29, 2022	$ 87,823	$ 30	167,352	(78,973)	(586)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(23,772)
Other comprehensive income, net of tax	586
Ending balance (in shares) at Nov. 27, 2022		30,297,000
Ending balance at Nov. 27, 2022	$ 71,143	$ 30	173,858	(102,745)	0
Convertible Preferred Stock, beginning balance (in shares) at May. 29, 2022	0
Convertible Preferred Stock, beginning balance at May. 29, 2022	$ 0
Convertible Preferred Stock, ending balance (in shares) at Feb. 26, 2023	39,000
Convertible Preferred Stock, ending balance at Feb. 26, 2023	$ 38,535
Beginning balance (in shares) at May. 29, 2022	29,513,000	29,513,000
Beginning balance at May. 29, 2022	$ 87,823	$ 30	167,352	(78,973)	(586)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Convertible Preferred Stock Paid in Kind (PIK) dividend	(428)
Net loss	(60,279)
Other comprehensive income, net of tax	586
Ending balance (in shares) at Feb. 26, 2023		30,319,000
Ending balance at Feb. 26, 2023	$ 35,021	$ 30	174,243	(139,252)	0
Convertible Preferred Stock, beginning balance (in shares) at May. 29, 2022	0
Convertible Preferred Stock, beginning balance at May. 29, 2022	$ 0
Increase (Decrease) in Temporary Equity [Roll Forward]
Proceeds of Convertible Preferred Stock, net of issuance costs (in shares)	39,000
Proceeds of Convertible Preferred Stock, net of issuance costs	$ 38,082
Accretion of Convertible Preferred Stock	73
Convertible Preferred Stock Paid in Kind (PIK) dividend	$ 1,163
Convertible Preferred Stock, ending balance (in shares) at May. 28, 2023	39,000
Convertible Preferred Stock, ending balance at May. 28, 2023	$ 39,318
Beginning balance (in shares) at May. 29, 2022	29,513,000	29,513,000
Beginning balance at May. 29, 2022	$ 87,823	$ 30	167,352	(78,973)	(586)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of stock under stock plans, net of shares withheld (in shares)		181,000
Accretion of Convertible Preferred Stock	(73)		(73)
Convertible Preferred Stock Paid in Kind (PIK) dividend	(1,163)		(1,163)
Taxes paid by Company for employee stock plans	(274)		(274)
Stock-based compensation	3,612		3,612
Net loss	(99,563)			(99,563)
Other comprehensive income, net of tax	586				586
Issuance of shares to Wynnefield Capital, Inc., net of issuance costs (in shares)		628,000
Issuance of shares to Wynnefield Capital, Inc., net of issuance costs	$ 4,822		4,822
Ending balance (in shares) at May. 28, 2023	30,322,000	30,322,000
Ending balance at May. 28, 2023	$ (4,230)	$ 30	174,276	(178,536)	0
Convertible Preferred Stock, beginning balance (in shares) at Aug. 28, 2022	0
Convertible Preferred Stock, beginning balance at Aug. 28, 2022	$ 0
Convertible Preferred Stock, ending balance (in shares) at Nov. 27, 2022	0
Convertible Preferred Stock, ending balance at Nov. 27, 2022	$ 0
Beginning balance (in shares) at Aug. 28, 2022		29,593,000
Beginning balance at Aug. 28, 2022	77,875	$ 30	168,070	(89,939)	(286)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of stock under stock plans, net of shares withheld (in shares)		76,000
Taxes paid by Company for employee stock plans	(142)		(142)
Stock-based compensation	1,108		1,108
Net loss	(12,806)			(12,806)
Other comprehensive income, net of tax	286				286
Issuance of shares to Wynnefield Capital, Inc., net of issuance costs (in shares)		628,000
Issuance of shares to Wynnefield Capital, Inc., net of issuance costs	4,822		4,822
Ending balance (in shares) at Nov. 27, 2022		30,297,000
Ending balance at Nov. 27, 2022	$ 71,143	$ 30	173,858	(102,745)	0
Increase (Decrease) in Temporary Equity [Roll Forward]
Proceeds of Convertible Preferred Stock, net of issuance costs (in shares)	39,000
Proceeds of Convertible Preferred Stock, net of issuance costs	$ 38,082
Accretion of Convertible Preferred Stock	25
Convertible Preferred Stock Paid in Kind (PIK) dividend	$ 428
Convertible Preferred Stock, ending balance (in shares) at Feb. 26, 2023	39,000
Convertible Preferred Stock, ending balance at Feb. 26, 2023	$ 38,535
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of stock under stock plans, net of shares withheld (in shares)		22,000
Accretion of Convertible Preferred Stock	(25)		(25)
Convertible Preferred Stock Paid in Kind (PIK) dividend			(428)
Taxes paid by Company for employee stock plans	(65)		(65)
Stock-based compensation	903		903
Net loss	(36,507)			(36,507)
Ending balance (in shares) at Feb. 26, 2023		30,319,000
Ending balance at Feb. 26, 2023	$ 35,021	$ 30	174,243	(139,252)	0
Convertible Preferred Stock, ending balance (in shares) at May. 28, 2023	39,000
Convertible Preferred Stock, ending balance at May. 28, 2023	$ 39,318
Ending balance (in shares) at May. 28, 2023	30,322,000	30,322,000
Ending balance at May. 28, 2023	$ (4,230)	$ 30	$ 174,276	$ (178,536)	$ 0

Unaudited Quarterly Consolidated Financial Information - Operations by Business Segment (Details) - USD ($) $ in Thousands	3 Months Ended											6 Months Ended			9 Months Ended			12 Months Ended
	May 28, 2023	Feb. 26, 2023	Nov. 27, 2022	Aug. 28, 2022	May 29, 2022	Feb. 27, 2022	Nov. 28, 2021	Aug. 29, 2021	Feb. 28, 2021	Nov. 29, 2020	Aug. 30, 2020	Nov. 27, 2022	Nov. 28, 2021	Nov. 29, 2020	Feb. 26, 2023	Feb. 27, 2022	Feb. 28, 2021	May 28, 2023	May 29, 2022	May 30, 2021
Segment Reporting Information [Line Items]
Product sales	$ 31,145	$ 26,536	$ 21,864	$ 23,724	$ 28,107	$ 35,232	$ 25,601	$ 22,330	$ 27,807	$ 23,792	$ 22,675	$ 45,587						$ 103,269	$ 111,270	$ 100,874
Gross profit	7,779	8,548	5,679	5,979	10,424	11,639	11,458	5,545	10,930	10,774	5,294	11,658						27,985	39,066	38,937
Net income (loss) from continuing operations	(36,998)	(11,330)	(9,201)	(6,707)	(3,630)	(10,920)	7,547	(8,473)	(1,751)	(8,390)	(9,990)	(15,908)						(64,236)	(15,476)	(23,437)
Loss from discontinued operations, net of tax	$ (2,286)	(25,177)	(3,605)	(4,259)	$ (51,641)	(2,666)	(46,018)	(914)	(5,227)	(3,233)	(2,420)	(7,864)						(35,327)	(101,239)	(8,857)
Consolidated net loss		(36,507)	(12,806)	(10,966)		(13,586)	(38,471)	(9,387)	(6,978)	(11,623)	(12,410)	(23,772)	$ (47,858)		$ (60,279)	$ (61,444)	$ (31,011)	(99,563)	(116,715)	(32,294)
Dividend income										0	0
Interest income		22	16	15		20	19	27	13	10	8	31						68	81	48
Income tax (benefit) expense, continuing operations		70	4	4		3,389	(6,275)	(1,807)	(1,530)	(1,528)	(3,788)	8						$ 308	(5,211)	(6,350)
Continuing Operations
Segment Reporting Information [Line Items]
Product sales																83,164	74,274
Gross profit																28,642	26,996
Net income (loss) from continuing operations																(11,079)	(22,204)
Loss from discontinued operations, net of tax																(50,365)	(8,807)
Consolidated net loss																(61,444)	(31,011)
Interest income																66	31
Income tax (benefit) expense, continuing operations																(5,461)	(4,775)
After Discontinued Operations Restatement
Segment Reporting Information [Line Items]
Product sales													47,931	$ 46,468	72,123
Gross profit													17,003	16,067	20,206
Net income (loss) from continuing operations													(926)	(18,381)	(27,238)
Loss from discontinued operations, net of tax													(46,932)	(5,652)	(33,041)
Consolidated net loss													(47,858)	(24,033)	(60,279)
Dividend income														0
Interest income													46	18	53
Income tax (benefit) expense, continuing operations													(8,082)	(5,316)	78
As Reported
Segment Reporting Information [Line Items]
Product sales																			185,786	171,546
Gross profit																			50,370	50,471
Net income (loss) from continuing operations																			(63,524)	(9,569)
Loss from discontinued operations, net of tax																			(51,155)	(23,096)
Consolidated net loss				(11,351)				(9,477)			(11,000)	(23,800)	(47,918)	(24,301)	(63,992)		(29,799)		(114,679)	(32,665)
Depreciation and amortization																			10,757	8,571
Interest income																			81	48
Interest expense																			17,357	(10,387)
Income tax (benefit) expense, continuing operations																			(5,945)	(1,903)
Corporate overhead allocation																			0	0
As Reported \| Before Discontinued Operations Restatement
Segment Reporting Information [Line Items]
Product sales		27,600	38,802	43,355		37,399	43,452	41,632	44,690	130,904	135,643	82,157
Gross profit		5,978	7,108	6,252		12,866	14,715	10,435	14,441	20,637	16,347	13,360
Net income (loss) from continuing operations		(15,461)	(12,449)	(11,351)		(6,638)	4,229	(7,633)	(1,465)	(13,301)	(11,000)	(23,800)
Loss from discontinued operations, net of tax		(24,731)	0	0		(6,448)	(42,670)	(1,844)	(4,033)	0	0	0
Consolidated net loss		(40,192)	(12,449)	(11,351)		(13,086)	(38,441)	(9,477)	(5,498)	(13,301)	(11,000)	(23,800)
Dividend income										281	281
Depreciation and amortization		2,131	2,442	3,949		1,996	2,585	2,454	2,237	4,292	4,748	6,391
Interest income		22	16	15		20	19	27	13	10	8	31
Interest expense		5,818	4,219	3,678		4,105	3,094	6,678	2,939	3,039	3,109	7,897
Income tax (benefit) expense, continuing operations		70	4	4		(87)	(3,085)	(1,651)	(58)	(2,700)	(4,309)	8
Corporate overhead allocation		0	0	0		0	0	0	0	0	0	0
As Reported \| After Discontinued Operations Restatement
Segment Reporting Information [Line Items]
Product sales													85,084	266,547	77,748	90,140	126,629
Gross profit													25,150	36,983	19,570	31,633	35,890
Net income (loss) from continuing operations													(3,404)	(24,301)	(34,713)	(11,383)	(8,789)
Loss from discontinued operations, net of tax													(44,514)	0	(29,279)	(49,733)	(21,010)
Consolidated net loss													(47,918)	(24,301)	(63,992)	(61,116)	(29,799)
Dividend income														563
Depreciation and amortization													5,039	9,039	8,160	5,328	6,582
Interest income													46	18	53	66	31
Interest expense													9,772	6,148	13,715	13,877	6,609
Income tax (benefit) expense, continuing operations													(4,736)	(7,009)	78	(5,591)	(1,025)
Corporate overhead allocation													0	0	0	0	0
As Reported \| After Discontinued Operations Restatement \| Continuing Operations
Segment Reporting Information [Line Items]
Income tax (benefit) expense, continuing operations														(7,009)
Restatement
Segment Reporting Information [Line Items]
Product sales																			40	492
Gross profit																			(3,863)	(533)
Net income (loss) from continuing operations																			(1,749)	(13,550)
Loss from discontinued operations, net of tax																			(287)	13,921
Consolidated net loss				385				90			(1,410)	28	60	268	3,713		(1,212)		(2,036)	371
Depreciation and amortization																			83
Interest income																			0	0
Interest expense																			(1,806)	1,454
Income tax (benefit) expense, continuing operations																			287	(4,899)
Restatement \| Before Discontinued Operations Restatement
Segment Reporting Information [Line Items]
Product sales		206	173	21		2	38	0	142	24	228	194
Gross profit		2,469	(1,107)	(57)		(791)	(578)	(340)	(895)	42	(100)	(1,164)
Net income (loss) from continuing operations		3,384	(279)	412		(3,007)	2,145	486	(1,298)	3,078	(1,410)	133
Loss from discontinued operations, net of tax		301	(78)	(27)		2,507	(2,175)	(396)	(182)	(1,400)	0	(105)
Consolidated net loss		3,685	(357)	385		(500)	(30)	90	(1,480)	1,678	(1,410)	28
Dividend income										0	0
Depreciation and amortization		31	31	30		24	24	11			(205)	61
Interest income		0	0	0		0	0	0	0	0	0	0
Interest expense		(963)	(595)	(432)		(429)	(327)	(548)	(377)	(204)		(1,027)
Income tax (benefit) expense, continuing operations		0	0	0		2,014	(2,147)	133	(339)	731	(298)	0
Restatement \| After Discontinued Operations Restatement
Segment Reporting Information [Line Items]
Product sales													38	252	400	40	394
Gross profit													(918)	(58)	1,305	(1,597)	(953)
Net income (loss) from continuing operations													2,631	1,668	5,703	39	(13,860)
Loss from discontinued operations, net of tax													(2,571)	(1,400)	(1,990)	(367)	12,648
Consolidated net loss													60	268	3,713	(328)	(1,212)
Dividend income														0
Depreciation and amortization													35		92	59
Interest income													0	0	0	0	0
Interest expense													(875)	(409)	(1,990)	(1,304)	(786)
Income tax (benefit) expense, continuing operations													(2,014)	433	0	0	(3,877)
Restatement \| After Discontinued Operations Restatement \| Continuing Operations
Segment Reporting Information [Line Items]
Income tax (benefit) expense, continuing operations														433
As Restated
Segment Reporting Information [Line Items]
Product sales																			185,826	172,038
Gross profit																			46,507	49,938
Net income (loss) from continuing operations																			(65,273)	(23,119)
Loss from discontinued operations, net of tax																			(51,442)	(9,175)
Consolidated net loss														(24,033)					(116,715)	(32,294)
Depreciation and amortization																			10,840	8,571
Interest income																			81	48
Interest expense																			15,551	(8,933)
Income tax (benefit) expense, continuing operations																			(5,658)	(6,802)
Corporate overhead allocation																			0	0
As Restated \| Before Discontinued Operations Restatement
Segment Reporting Information [Line Items]
Product sales		27,806	38,975	43,376		37,401	43,490	41,632	44,832	130,928	135,871	82,351
Gross profit		8,447	6,001	6,195		12,075	14,137	10,095	13,546	20,679	16,247	12,196
Net income (loss) from continuing operations		(12,077)	(12,728)	(10,939)		(9,645)	6,374	(7,147)	(2,763)	(10,223)	(12,410)	(23,667)
Loss from discontinued operations, net of tax		(24,430)	(78)	(27)		(3,941)	(44,845)	(2,240)	(4,215)	(1,400)	0	(105)
Consolidated net loss		(36,507)	(12,806)	(10,966)		(13,586)	(38,471)	(9,387)	(6,978)	(11,623)	(12,410)	(23,772)
Dividend income										281	281
Depreciation and amortization		2,162	2,473	3,979		2,020	2,609	2,465	2,237	4,292	4,748	6,452
Interest income		22	16	15		20	19	27	13	10	8	31
Interest expense		4,855	3,624	3,246		3,676	2,767	6,130	2,562	2,835	2,904	6,870
Income tax (benefit) expense, continuing operations		70	4	4		1,927	(5,232)	(1,518)	(397)	(1,969)	(4,607)	8
Corporate overhead allocation		0	0	0		0	0	0	0	0	0	0
As Restated \| After Discontinued Operations Restatement
Segment Reporting Information [Line Items]
Product sales													85,122	266,799	78,148	90,180	127,023
Gross profit													24,232	36,925	20,875	30,036	34,937
Net income (loss) from continuing operations													(773)	(22,633)	(29,010)	(11,344)	(22,649)
Loss from discontinued operations, net of tax													(47,085)	(1,400)	(31,269)	(50,100)	(8,362)
Consolidated net loss													(47,858)	(24,033)	(60,279)	(61,444)	(31,011)
Dividend income														563
Depreciation and amortization													5,074	9,039	8,252	5,387	6,582
Interest income													46	18	53	66	31
Interest expense													8,897	5,739	11,725	12,573	5,823
Income tax (benefit) expense, continuing operations													(6,750)	(6,576)	78	(5,591)	(4,902)
Corporate overhead allocation													0	0	0	0	0
As Restated \| After Discontinued Operations Restatement \| Continuing Operations
Segment Reporting Information [Line Items]
Income tax (benefit) expense, continuing operations														(6,576)
Lifecore \| As Reported
Segment Reporting Information [Line Items]
Product sales																			109,320	98,087
Gross profit																			43,746	38,265
Net income (loss) from continuing operations																			16,675	14,461
Loss from discontinued operations, net of tax																			0	0
Depreciation and amortization																			6,673	5,502
Interest income																			72	0
Interest expense																			0	0
Income tax (benefit) expense, continuing operations																			5,266	4,568
Corporate overhead allocation																			4,484	4,773
Lifecore \| As Reported \| Before Discontinued Operations Restatement
Segment Reporting Information [Line Items]
Product sales		26,330	21,691	23,703		34,808	24,946	21,952	27,225	23,219	21,804	45,393
Gross profit		6,072	6,675	6,101		12,905	11,715	5,764	11,561	10,474	5,002	12,776
Net income (loss) from continuing operations		851	916	502		5,054	5,682	580	5,104	4,492	112	1,419
Loss from discontinued operations, net of tax		0				0	0	0	0
Dividend income										0	0
Depreciation and amortization		1,878	1,843	1,771		1,674	1,673	1,547	1,385	1,360	1,310	3,614
Interest income		16	16	15		18	19	20	0	0	0	31
Interest expense		0	0	0		0	0	0	0	0	0	0
Income tax (benefit) expense, continuing operations		268	290	158		1,596	1,794	183	1,612	1,419	35	448
Corporate overhead allocation		739	1,022	1,038		1,175	1,078	1,137	1,102	1,162	1,403	2,060
Lifecore \| As Reported \| After Discontinued Operations Restatement
Segment Reporting Information [Line Items]
Product sales													46,898	45,024	71,723	81,707	72,248
Gross profit													17,479	15,476	18,847	30,384	27,036
Net income (loss) from continuing operations													6,262	4,604	2,269	11,317	9,708
Loss from discontinued operations, net of tax													0	0	0	0	0
Dividend income														0
Depreciation and amortization													3,220	2,669	5,492	4,894	4,055
Interest income													39	0	47	57	0
Interest expense													0	0	0	0	0
Income tax (benefit) expense, continuing operations													1,977		717	3,574	3,066
Corporate overhead allocation													2,215	2,565	2,799	3,389	3,668
Lifecore \| As Reported \| After Discontinued Operations Restatement \| Continuing Operations
Segment Reporting Information [Line Items]
Income tax (benefit) expense, continuing operations														1,454
Lifecore \| Restatement
Segment Reporting Information [Line Items]
Product sales																			40	492
Gross profit																			(3,863)	(533)
Net income (loss) from continuing operations																			(39)	(573)
Loss from discontinued operations, net of tax																			0	0
Depreciation and amortization																			83
Interest expense																			0	0
Income tax (benefit) expense, continuing operations																			(3,824)	(482)
Lifecore \| Restatement \| Before Discontinued Operations Restatement
Segment Reporting Information [Line Items]
Product sales		206	173	21		2	38	0	142	24	228	194
Gross profit		2,469	(987)	(127)		(791)	(498)	(308)	(895)	42	(100)	(1,114)
Net income (loss) from continuing operations		2,557	(697)	31		2,268	(5,293)	(205)	(14)	500	(78)	(666)
Loss from discontinued operations, net of tax		0	0	0		0	0	0	0	0		0
Depreciation and amortization		31	31	30		24	24	11			0	61
Interest expense		0	0	0		0	0	0	0	0		0
Income tax (benefit) expense, continuing operations		(288)	(290)	(158)		(3,059)	4,795	(103)	(881)	(458)	(22)	(448)
Lifecore \| Restatement \| After Discontinued Operations Restatement
Segment Reporting Information [Line Items]
Product sales													38	252	400	40	394
Gross profit													(806)	(58)	1,355	(1,597)	(953)
Net income (loss) from continuing operations													(5,498)	45	1,883	(2,412)	10
Loss from discontinued operations, net of tax													0	0	0	0	0
Depreciation and amortization													35		92	59
Interest expense													0	0	0	0	0
Income tax (benefit) expense, continuing operations													4,692		(728)	815	(963)
Lifecore \| Restatement \| After Discontinued Operations Restatement \| Continuing Operations
Segment Reporting Information [Line Items]
Income tax (benefit) expense, continuing operations														(103)
Lifecore \| As Restated
Segment Reporting Information [Line Items]
Product sales																			109,360	98,579
Gross profit																			39,883	37,732
Net income (loss) from continuing operations																			16,636	13,888
Loss from discontinued operations, net of tax																			0	0
Depreciation and amortization																			6,756	5,502
Interest income																			72	0
Interest expense																			0	0
Income tax (benefit) expense, continuing operations																			1,442	4,086
Corporate overhead allocation																			4,484	4,773
Lifecore \| As Restated \| Before Discontinued Operations Restatement
Segment Reporting Information [Line Items]
Product sales		26,536	21,864	23,724		34,810	24,984	21,952	27,367	23,243	22,032	45,587
Gross profit		8,541	5,688	5,974		12,114	11,217	5,456	10,666	10,516	4,902	11,662
Net income (loss) from continuing operations		3,408	219	533		7,322	389	375	5,090	4,992	34	753
Loss from discontinued operations, net of tax		0	0	0		0	0	0	0	0		0
Dividend income										0	0
Depreciation and amortization		1,909	1,874	1,801		1,698	1,697	1,558	1,385	1,360	1,310	3,675
Interest income		16	16	15		18	19	20	0	0	0	31
Interest expense		0	0	0		0	0	0	0	0	0	0
Income tax (benefit) expense, continuing operations		(20)	0	0		(1,463)	6,589	80	731	961	13	0
Corporate overhead allocation		739	1,022	1,038		1,175	1,078	1,137	1,102	1,162	1,403	2,060
Lifecore \| As Restated \| After Discontinued Operations Restatement
Segment Reporting Information [Line Items]
Product sales													46,936	45,276	72,123	81,747	72,642
Gross profit													16,673	15,418	20,202	28,787	26,083
Net income (loss) from continuing operations													764	4,649	4,152	8,905	9,718
Loss from discontinued operations, net of tax													0	0	0	0	0
Dividend income														0
Depreciation and amortization													3,255	2,669	5,584	4,953	4,055
Interest income													39	0	47	57	0
Interest expense													0	0	0	0	0
Income tax (benefit) expense, continuing operations													6,669		(11)	4,389	2,103
Corporate overhead allocation													2,215	2,565	2,799	3,389	3,668
Lifecore \| As Restated \| After Discontinued Operations Restatement \| Continuing Operations
Segment Reporting Information [Line Items]
Income tax (benefit) expense, continuing operations														1,351
Curation Foods \| As Reported
Segment Reporting Information [Line Items]
Product sales																			76,466	73,459
Gross profit																			6,624	12,206
Net income (loss) from continuing operations																			(47,783)	(357)
Loss from discontinued operations, net of tax																			(48,114)	(23,096)
Depreciation and amortization																			4,004	2,972
Interest income																			0	0
Interest expense																			299	(545)
Income tax (benefit) expense, continuing operations																			(13,831)	(3,020)
Corporate overhead allocation																			1,092	946
Curation Foods \| As Reported \| Before Discontinued Operations Restatement
Segment Reporting Information [Line Items]
Product sales		1,270	17,111	19,652		2,591	18,506	19,680	17,465	107,685	113,839	36,764
Gross profit		(94)	433	151		(39)	3,000	4,671	2,880	10,163	11,345	584
Net income (loss) from continuing operations		280	(3,295)	(2,721)		(5,380)	(747)	(284)	(394)	(12,383)	(8,271)	(6,017)
Loss from discontinued operations, net of tax		(22,802)				(3,407)	(42,670)	(1,844)	(4,033)
Dividend income										281	281
Depreciation and amortization		243	588	2,167		304	886	881	830	2,906	3,410	2,756
Interest income		0	0	0		0	0	0	0	0	0	0
Interest expense		0	0	0		26	136	137	136	1,376	1,376	1
Income tax (benefit) expense, continuing operations		(3,019)	(836)	(1,065)		(1,678)	(579)	(218)	(1,614)	(3,911)	(2,612)	(1,901)
Corporate overhead allocation		241	283	334		289	1,231	1,471	87	1,402	1,856	617
Curation Foods \| As Reported \| After Discontinued Operations Restatement
Segment Reporting Information [Line Items]
Product sales													38,186	221,523	6,025	8,433	54,381
Gross profit													7,671	21,507	723	1,249	8,854
Net income (loss) from continuing operations													(1,030)	(20,654)	(1,974)	4,640	(1,346)
Loss from discontinued operations, net of tax													(44,514)	0	(27,350)	(46,692)	(21,010)
Dividend income														563
Depreciation and amortization													1,767	6,316	2,637	364	2,451
Interest income													0	0	0	0	0
Interest expense													273	2,751	1	300	410
Income tax (benefit) expense, continuing operations													(797)		(4,135)	(13,422)	(2,095)
Corporate overhead allocation													2,702	3,258	858	778	621
Curation Foods \| As Reported \| After Discontinued Operations Restatement \| Continuing Operations
Segment Reporting Information [Line Items]
Income tax (benefit) expense, continuing operations														(6,523)
Curation Foods \| Restatement
Segment Reporting Information [Line Items]
Product sales																			0	0
Gross profit																			0	0
Net income (loss) from continuing operations																			(8,411)	(16,816)
Loss from discontinued operations, net of tax																			(287)	13,921
Depreciation and amortization																			0
Interest expense																			0	0
Income tax (benefit) expense, continuing operations																			8,960	(2,032)
Curation Foods \| Restatement \| Before Discontinued Operations Restatement
Segment Reporting Information [Line Items]
Product sales		0	0	0		0	0	0	0	0	0	0
Gross profit		0	(120)	70		0	(80)	(32)	0	0	0	(50)
Net income (loss) from continuing operations		(2,882)	(724)	(959)		(4,229)	716	183	(2,340)	1,708	(988)	(1,684)
Loss from discontinued operations, net of tax		301	(78)	(27)		2,507	(2,175)	(396)	(182)	(1,400)		(105)
Depreciation and amortization		0	0	0		0	0	0			0	0
Interest expense		0	0	0		0	0	0	0	0		0
Income tax (benefit) expense, continuing operations		3,034	837	1,066		3,598	(547)	196	1,221	1,855	(825)	1,904
Curation Foods \| Restatement \| After Discontinued Operations Restatement
Segment Reporting Information [Line Items]
Product sales													0	0	0	0	0
Gross profit													(112)	0	(50)	0	0
Net income (loss) from continuing operations													899	953	(1,587)	(10,300)	(15,927)
Loss from discontinued operations, net of tax													(2,571)	(1,400)	(1,990)	(367)	12,648
Depreciation and amortization													0		0	0
Interest expense													0	0	0	0	0
Income tax (benefit) expense, continuing operations													(351)		4,145	10,632	(1,643)
Curation Foods \| Restatement \| After Discontinued Operations Restatement \| Continuing Operations
Segment Reporting Information [Line Items]
Income tax (benefit) expense, continuing operations														797
Curation Foods \| As Restated
Segment Reporting Information [Line Items]
Product sales																			76,466	73,459
Gross profit																			6,624	12,206
Net income (loss) from continuing operations																			(56,194)	(17,173)
Loss from discontinued operations, net of tax																			(48,401)	(9,175)
Depreciation and amortization																			4,004	2,972
Interest income																			0	0
Interest expense																			299	(545)
Income tax (benefit) expense, continuing operations																			(4,871)	(5,052)
Corporate overhead allocation																			1,092	946
Curation Foods \| As Restated \| Before Discontinued Operations Restatement
Segment Reporting Information [Line Items]
Product sales		1,270	17,111	19,652		2,591	18,506	19,680	17,465	107,685	113,839	36,764
Gross profit		(94)	313	221		(39)	2,920	4,639	2,880	10,163	11,345	534
Net income (loss) from continuing operations		(2,602)	(4,019)	(3,680)		(9,609)	(31)	(101)	(2,734)	(10,675)	(9,259)	(7,701)
Loss from discontinued operations, net of tax		(22,501)	(78)	(27)		(900)	(44,845)	(2,240)	(4,215)	(1,400)		(105)
Dividend income										281	281
Depreciation and amortization		243	588	2,167		304	886	881	830	2,906	3,410	2,756
Interest income		0	0	0		0	0	0	0	0	0	0
Interest expense		0	0	0		26	136	137	136	1,376	1,376	1
Income tax (benefit) expense, continuing operations		15	1	1		1,920	(1,126)	(22)	(393)	(2,056)	(3,437)	3
Corporate overhead allocation		241	283	334		289	1,231	1,471	87	1,402	1,856	617
Curation Foods \| As Restated \| After Discontinued Operations Restatement
Segment Reporting Information [Line Items]
Product sales													38,186	221,523	6,025	8,433	54,381
Gross profit													7,559	21,507	673	1,249	8,854
Net income (loss) from continuing operations													(131)	(19,701)	(3,561)	(5,660)	(17,273)
Loss from discontinued operations, net of tax													(47,085)	(1,400)	(29,340)	(47,059)	(8,362)
Dividend income														563
Depreciation and amortization													1,767	6,316	2,637	364	2,451
Interest income													0	0	0	0	0
Interest expense													273	2,751	1	300	410
Income tax (benefit) expense, continuing operations													(1,148)		10	(2,790)	(3,738)
Corporate overhead allocation													2,702	3,258	858	778	621
Curation Foods \| As Restated \| After Discontinued Operations Restatement \| Continuing Operations
Segment Reporting Information [Line Items]
Income tax (benefit) expense, continuing operations														(5,726)
Other \| As Reported
Segment Reporting Information [Line Items]
Product sales																			0	0
Gross profit																			0	0
Net income (loss) from continuing operations																			(32,416)	(23,673)
Loss from discontinued operations, net of tax																			(3,041)	0
Depreciation and amortization																			80	97
Interest income																			9	48
Interest expense																			17,058	(9,842)
Income tax (benefit) expense, continuing operations																			2,620	(3,451)
Corporate overhead allocation																			(5,576)	(5,719)
Other \| As Reported \| Before Discontinued Operations Restatement
Segment Reporting Information [Line Items]
Product sales		0	0	0		0	0	0	0	0	0	0
Gross profit		0	0	0		0	0	0	0	0	0	0
Net income (loss) from continuing operations		(16,592)	(10,070)	(9,132)		(6,312)	(706)	(7,929)	(6,175)	(5,410)	(2,841)	(19,202)
Loss from discontinued operations, net of tax		(1,929)				(3,041)	0	0	0
Dividend income										0	0
Depreciation and amortization		10	11	11		18	26	26	22	26	28	21
Interest income		6	0	0		2	0	7	13	10	8	0
Interest expense		5,818	4,219	3,678		4,079	2,958	6,541	2,803	1,663	1,733	7,896
Income tax (benefit) expense, continuing operations		2,821	550	911		(5)	(4,300)	(1,616)	(56)	(208)	(1,732)	1,461
Corporate overhead allocation		(980)	(1,305)	(1,372)		(1,464)	(2,309)	(2,608)	(1,189)	(2,564)	(3,259)	(2,677)
Other \| As Reported \| After Discontinued Operations Restatement
Segment Reporting Information [Line Items]
Product sales													0	0	0	0	0
Gross profit													0	0	0	0	0
Net income (loss) from continuing operations													(8,636)	(8,251)	(35,008)	(27,340)	(17,151)
Loss from discontinued operations, net of tax													0	0	(1,929)	(3,041)	0
Dividend income														0
Depreciation and amortization													52	54	31	70	76
Interest income													7	18	6	9	31
Interest expense													9,499	3,397	13,714	13,577	6,199
Income tax (benefit) expense, continuing operations													(5,916)		3,496	4,257	(1,996)
Corporate overhead allocation													(4,917)	(5,823)	(3,657)	(4,167)	(4,289)
Other \| As Reported \| After Discontinued Operations Restatement \| Continuing Operations
Segment Reporting Information [Line Items]
Income tax (benefit) expense, continuing operations														(1,940)
Other \| Restatement
Segment Reporting Information [Line Items]
Product sales																			0	0
Gross profit																			0	0
Net income (loss) from continuing operations																			6,701	3,839
Loss from discontinued operations, net of tax																			0	0
Depreciation and amortization																			0
Interest expense																			(1,806)	1,454
Income tax (benefit) expense, continuing operations																			(4,849)	(2,385)
Other \| Restatement \| Before Discontinued Operations Restatement
Segment Reporting Information [Line Items]
Product sales		0	0	0		0	0	0	0	0	0	0
Gross profit		0	0	0		0	0	0	0	0	0	0
Net income (loss) from continuing operations		3,709	1,142	1,340		(1,046)	6,722	508	1,056	870	(344)	2,483
Loss from discontinued operations, net of tax		0	0	0		0	0	0	0	0		0
Depreciation and amortization		0	0	0		0	0	0			(205)	0
Interest expense		(963)	(595)	(432)		(429)	(327)	(548)	(377)	(204)		(1,027)
Income tax (benefit) expense, continuing operations		(2,746)	(547)	(908)		1,475	(6,395)	40	(679)	(666)	549	(1,456)
Other \| Restatement \| After Discontinued Operations Restatement
Segment Reporting Information [Line Items]
Product sales													0	0	0	0	0
Gross profit													0	0	0	0	0
Net income (loss) from continuing operations													7,230	670	5,407	12,751	2,057
Loss from discontinued operations, net of tax													0	0	0	0	0
Depreciation and amortization													0		0	0
Interest expense													(875)	(409)	(1,990)	(1,304)	(786)
Income tax (benefit) expense, continuing operations													(6,355)		(3,417)	(11,447)	(1,271)
Other \| Restatement \| After Discontinued Operations Restatement \| Continuing Operations
Segment Reporting Information [Line Items]
Income tax (benefit) expense, continuing operations														(261)
Other \| As Restated
Segment Reporting Information [Line Items]
Product sales																			0	0
Gross profit																			0	0
Net income (loss) from continuing operations																			(25,715)	(19,834)
Loss from discontinued operations, net of tax																			(3,041)	0
Depreciation and amortization																			80	97
Interest income																			9	48
Interest expense																			15,252	(8,388)
Income tax (benefit) expense, continuing operations																			(2,229)	(5,836)
Corporate overhead allocation																			$ (5,576)	$ (5,719)
Other \| As Restated \| Before Discontinued Operations Restatement
Segment Reporting Information [Line Items]
Product sales		0	0	0		0	0	0	0	0	0	0
Gross profit		0	0	0		0	0	0	0	0	0	0
Net income (loss) from continuing operations		(12,883)	(8,928)	(7,792)		(7,358)	6,016	(7,421)	(5,119)	(4,540)	(3,185)	(16,719)
Loss from discontinued operations, net of tax		(1,929)	0	0		(3,041)	0	0	0	0		0
Dividend income										0	0
Depreciation and amortization		10	11	11		18	26	26	22	26	28	21
Interest income		6	0	0		2	0	7	13	10	8	0
Interest expense		4,855	3,624	3,246		3,650	2,631	5,993	2,426	1,459	1,528	6,869
Income tax (benefit) expense, continuing operations		75	3	3		1,470	(10,695)	(1,576)	(735)	(874)	(1,183)	5
Corporate overhead allocation		$ (980)	$ (1,305)	$ (1,372)		$ (1,464)	$ (2,309)	$ (2,608)	$ (1,189)	$ (2,564)	$ (3,259)	$ (2,677)
Other \| As Restated \| After Discontinued Operations Restatement
Segment Reporting Information [Line Items]
Product sales													0	0	0	0	0
Gross profit													0	0	0	0	0
Net income (loss) from continuing operations													(1,406)	(7,581)	(29,601)	(14,589)	(15,094)
Loss from discontinued operations, net of tax													0	0	(1,929)	(3,041)	0
Dividend income														0
Depreciation and amortization													52	54	31	70	76
Interest income													7	18	6	9	31
Interest expense													8,624	2,988	11,724	12,273	5,413
Income tax (benefit) expense, continuing operations													(12,271)		79	(7,190)	(3,267)
Corporate overhead allocation													$ (4,917)	(5,823)	$ (3,657)	$ (4,167)	$ (4,289)
Other \| As Restated \| After Discontinued Operations Restatement \| Continuing Operations
Segment Reporting Information [Line Items]
Income tax (benefit) expense, continuing operations														$ (2,201)

Goodwill and Intangible Assets - Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	May 28, 2023	May 29, 2022
Intangible Assets [Line Items]
Accumulated Amortization	$ 3,700	$ 3,700
Total intangible assets	7,900	7,900
Trademarks/tradenames
Intangible Assets [Line Items]
Gross Carrying Amount	4,200	4,200
Impairment of intangible assets	0	0
Customer relationships
Intangible Assets [Line Items]
Gross Carrying Amount	3,700	3,700
Accumulated Amortization	3,700	3,700
Lifecore \| Trademarks/tradenames
Intangible Assets [Line Items]
Gross Carrying Amount	4,200	4,200
Impairment of intangible assets	$ 0	0
Lifecore \| Customer relationships
Intangible Assets [Line Items]
Amortization Period (years)	12 years
Gross Carrying Amount	$ 3,700	3,700
Accumulated Amortization	$ 3,700	$ 3,700

Property and Equipment (Tables)

12 Months Ended

May 28, 2023

Property, Plant and Equipment [Abstract]

Schedule of Property and Equipment

Property and equipment consists of the following (in thousands):


	Years of Useful Life			Year Ended
				May 28, 2023		May 29, 2022
						As Restated
Land				$	3,739	$	3,710
Buildings	15	-	40	60,688		58,359
Leasehold improvements	3	-	15	4,019		4,019
Computers, capitalized software, machinery, equipment and autos	3	-	25	75,181		70,462
Furniture and fixtures	3	-	7	2,182		2,091
Construction in process				45,587		26,892
Gross property and equipment				191,396		165,533
Less accumulated depreciation and amortization				(57,006)		(46,863)
Property and equipment, net				$	134,390	$	118,670

Correction of Errors in Previously Reported Fiscal Year 2022 and 2021 Annual Financial Statements - Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended									6 Months Ended			9 Months Ended			12 Months Ended
	Feb. 26, 2023	Nov. 27, 2022	Aug. 28, 2022	Feb. 27, 2022	Nov. 28, 2021	Aug. 29, 2021	Feb. 28, 2021	Nov. 29, 2020	Aug. 30, 2020	Nov. 27, 2022	Nov. 28, 2021	Nov. 29, 2020	Feb. 26, 2023	Feb. 27, 2022	Feb. 28, 2021	May 28, 2023	May 29, 2022	May 30, 2021
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net loss	$ (36,507)	$ (12,806)	$ (10,966)	$ (13,586)	$ (38,471)	$ (9,387)	$ (6,978)	$ (11,623)	$ (12,410)	$ (23,772)	$ (47,858)	$ (24,033)	$ (60,279)	$ (61,444)	$ (31,011)	$ (99,563)	$ (116,715)	$ (32,294)
Other comprehensive income, net of tax:
Net unrealized gains (losses) on interest rate swaps, net of tax effect		286	300	104	176	366	387	401	304	586	542	705	586	646	1,092	586	772	1,450
Other comprehensive income, net		286	300	104	176	366	387	401	304	586	542	705	586	646	1,092	586	772	1,450
Total comprehensive loss	(36,507)	(12,520)	(10,666)	(13,482)	(38,295)	(9,021)	(6,591)	(11,222)	(12,106)	(23,186)	(47,316)	(23,328)	(59,693)	(60,798)	(29,919)	(98,977)	(115,943)	(30,844)
Changes in net unrealized gains (losses) on interest rate swap, tax																$ 16	(430)	(455)
Discontinued Operations
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net loss	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0		0	0
Other comprehensive income, net of tax:
Net unrealized gains (losses) on interest rate swaps, net of tax effect		0	0	0	0	0	0	0	0	0	0	0	0	0	0		0	0
Other comprehensive income, net		0	0	0	0	0	0	0	0	0	0	0	0	0	0		0	0
Total comprehensive loss	0	0	0	0	0	0	0	0	0	0	0	0	0	$ 0	0		0	0
As Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net loss	(40,192)	(12,449)	(11,351)	(13,086)	(38,441)	(9,477)	(5,498)	(13,301)	(11,000)	(23,800)	(47,918)	(24,301)	(63,992)		(29,799)		(114,679)	(32,665)
Other comprehensive income, net of tax:
Net unrealized gains (losses) on interest rate swaps, net of tax effect		286	300	104	176	366	387	401	304	586	542	705	586		1,092		772	1,450
Other comprehensive income, net		286	300	104	176	366	387	401	304	586	542	705	586		1,092		772	1,450
Total comprehensive loss	(40,192)	(12,163)	(11,051)	(12,982)	(38,265)	(9,111)	(5,111)	(12,900)	(10,696)	(23,214)	(47,376)	(23,596)	(63,406)		(28,707)		(113,907)	(31,215)
Restatement
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net loss	3,685	(357)	385	(500)	(30)	90	(1,480)	1,678	(1,410)	28	60	268	3,713		(1,212)		(2,036)	371
Other comprehensive income, net of tax:
Net unrealized gains (losses) on interest rate swaps, net of tax effect		0	0	0	0	0	0	0	0	0	0	0	0		0		0	0
Other comprehensive income, net		0	0	0	0	0	0	0	0	0	0	0	0		0		0	0
Total comprehensive loss	3,685	(357)	385	(500)	(30)	90	(1,480)	1,678	(1,410)	28	60	268	3,713		(1,212)		(2,036)	371
As Restated
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net loss	(36,507)	(12,806)	(10,966)	(13,586)	(38,471)	(9,387)	(6,978)	(11,623)	(12,410)	(23,772)	(47,858)	(24,033)	(60,279)		(31,011)		(116,715)	(32,294)
Other comprehensive income, net of tax:
Net unrealized gains (losses) on interest rate swaps, net of tax effect		286	300	104	176	366	387	401	304	586	542	705	586		1,092		772	1,450
Other comprehensive income, net		286	300	104	176	366	387	401	304	586	542	705	586		1,092		772	1,450
Total comprehensive loss	$ (36,507)	$ (12,520)	$ (10,666)	$ (13,482)	$ (38,295)	$ (9,021)	$ (6,591)	$ (11,222)	$ (12,106)	$ (23,186)	$ (47,316)	$ (23,328)	$ (59,693)		$ (29,919)		$ (115,943)	$ (30,844)

Unaudited Quarterly Consolidated Financial Information - Inventories (Details) - USD ($) $ in Thousands	May 28, 2023	Feb. 26, 2023	Nov. 27, 2022	Aug. 28, 2022	May 29, 2022	Feb. 27, 2022	Nov. 28, 2021	Aug. 29, 2021	May 30, 2021	Feb. 28, 2021	Nov. 29, 2020	Aug. 30, 2020
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Finished goods	$ 13,141	$ 13,541	$ 15,659	$ 10,781	$ 13,397	$ 13,403	$ 20,885	$ 19,044	$ 17,754	$ 12,651	$ 14,662	$ 12,906
Raw materials	17,351	18,651	15,477	16,261	15,488	17,413	14,739	14,342	10,301	11,009	10,118	9,640
Work in progress	10,349	9,850	7,284	9,112	7,115	3,942	4,091	3,483	5,875	7,781	7,624	6,363
Total inventories	$ 40,841	42,042	38,420	36,154	36,000	34,758	39,715	36,869	33,930	31,441	32,404	28,909
Discontinued Operations
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Finished goods		1,284	23,408	14,321	19,629	29,036	22,309	16,278	22,453	28,877	21,674	14,727
Raw materials		1,933	9,000	8,762	6,340	7,294	15,583	14,914	5,615	14,983	16,494	15,675
Work in progress		0	760	188	43	21	2	4	25	5	52	67
Total inventories		3,217	33,168	23,271	26,012	36,351	37,894	31,196	28,093	43,865	38,220	30,469
As Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Finished goods		14,636	38,882	25,266	33,029	42,387	42,967	35,142	40,204	41,533	36,325	27,635
Raw materials		22,554	26,959	27,402	24,221	26,644	31,924	30,344	16,644	26,855	26,983	25,794
Work in progress		11,506	11,683	11,617	9,595	4,669	4,542	3,929	6,228	8,391	7,894	6,569
Total inventories		48,696	77,524	64,285	66,845	73,700	79,433	69,415	63,076	76,779	71,202	59,998
Restatement
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Finished goods		189	185	(164)	(3)	52	227	180	3	(5)	11	(2)
Raw materials		(1,970)	(2,482)	(2,379)	(2,393)	(1,937)	(1,602)	(1,088)	(728)	(863)	(371)	(479)
Work in progress		(1,656)	(3,639)	(2,317)	(2,437)	(706)	(449)	(442)	(328)	(605)	(218)	(139)
Total inventories		(3,437)	(5,936)	(4,860)	(4,833)	(2,591)	(1,824)	(1,350)	(1,053)	(1,473)	(578)	(620)
As Restated
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Finished goods		14,825	39,067	25,102	33,026	42,439	43,194	35,322	40,207	41,528	36,336	27,633
Raw materials		20,584	24,477	25,023	21,828	24,707	30,322	29,256	15,916	25,992	26,612	25,315
Work in progress		9,850	8,044	9,300	7,158	3,963	4,093	3,487	5,900	7,786	7,676	6,430
Total inventories		$ 45,259	$ 71,588	$ 59,425	$ 62,012	$ 71,109	$ 77,609	$ 68,065	$ 62,023	$ 75,306	$ 70,624	$ 59,378

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Restructuring Costs

12 Months Ended

May 28, 2023

Restructuring and Related Activities [Abstract]

Restructuring Costs

During fiscal year 2020, the Company announced a restructuring plan to drive enhanced profitability, focus the business on its strategic assets and redesign the organization to be the appropriate size to compete and thrive. This includes a reduction-in-force, a reduction in leased office spaces and the sale of non-strategic assets.

The following table summarizes the restructuring costs recognized in the Company’s Consolidated Statements of Operations for the fiscal year ended May 28, 2023:


(In thousands)	For the Year Ended
Year Ended May 28, 2023		May 28, 2023		May 29, 2022		May 30, 2021
				As Restated		As Restated
Asset write-off costs		$	—	$	3,127	$	8,359
Employee severance and benefit costs		2,542		405		180
Lease costs		96		2,072		1,774
Other restructuring costs		1,546		2,755		3,042
Total restructuring costs		$	4,184	$	8,359	$	13,355

Asset Write-off Costs

Asset write-off costs are costs related to impairment or disposal of property and equipment as part of the Company’s restructuring plan to drive enhanced profitability, focus the business on its strategic assets and redesign the organization to be the appropriate size to compete and thrive. These costs are included in restructuring costs within the Consolidated Statements of Operations.

In the fourth quarter of fiscal year 2020, the Company recognized a $1.9 million impairment loss related to BreatheWay equipment and an additional $1.9 million impairment loss related to BreatheWay equipment in the third quarter of fiscal year 2021, both as a result of our changing business model driven by our restructuring plan.

The Company leases its main office located in Santa Maria, California (the “Santa Maria Office”). During the third quarter of fiscal year 2022, the Company approved a plan to explore opportunities to sub lease its Santa Maria Office. The Santa Maria Office assets, included as lease hold improvements within property and equipment, net, had been designated as held for use within the Consolidated Balance Sheets as of May 29, 2022, as no finalized plan for disposition existed at the balance sheet date. The Company recognized a $5.3 million impairment loss, which is included in Restructuring costs within the Consolidated Statements of Operations ($3.7 million included in asset write-off costs related to lease hold improvements impairment and $1.6 million included in lease costs related to right-of-use asset impairment) for the year ended May 29, 2022. The Company executed a sub-lease in March 2023 with plans to sublease additional space within the first half of fiscal year 2024.

Employee Severance and Benefit Costs

Employee severance and benefit costs are costs incurred as a result of reduction-in-force driven by our restructuring plan and closure of offices and facilities. These costs were driven primarily by a reduction-in-force related to our Curation Foods business.

Lease Costs

In August 2020, the Company closed its leased Santa Clara, California office and entered into a sublease agreement. In the fourth quarter of fiscal year 2020 the Company closed its leased Los Angeles, California office and plans to sublease the office.

Other restructuring costs

Other restructuring costs primarily related to consulting costs to execute the Company’s restructuring plan to drive enhanced profitability, focus the business on its strategic assets, and redesign the organization to be the appropriate size to compete and thrive.

The restructuring plan has been substantially completed as of May 28, 2023. The following table summarizes the restructuring costs recognized in the Company’s Consolidated Statements of Operations since inception of the restructuring plan in fiscal year 2020 through the fiscal year ended May 28, 2023, excluding discontinued operations:



(In thousands)	Total
Asset write-off costs	$	13,893
Employee severance and benefit costs	4,099
Lease costs	4,114
Other restructuring costs	7,850
Total restructuring costs	$	29,956

Discontinued Operations

12 Months Ended

May 28, 2023

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

As discussed in Note 1 – Organization, Basis of Presentation, and Summary of Significant Accounting Policies - Discontinued Operations - O Olive Sale, Yucatan Disposition, BreatheWay Disposition and Eat Smart Disposition, during fiscal year 2023 we completed the O Olive Sale, Yucatan Disposition and BreatheWay Disposition, and during fiscal year 2022 we completed the Eat Smart Disposition. The accounting requirements for reporting the Eat Smart, Yucatan and O Olive businesses as discontinued operations were met when the Eat Smart Disposition, Yucatan Disposition and O Olive Sale were completed on each respective closing date. The BreatheWay Disposition did not meet the requirements for reporting the businesses as discontinued operations; therefore, the amounts are included in continuing operations for the years ended May 28 2023, May 29, 2022 and May 30, 2021 relate to BreatheWay. Accordingly, the consolidated financial statements and notes to the consolidated financial statements reflect the results of the Eat Smart, Yucatan and O Olive businesses as a discontinued operation for the periods presented.

The key components of loss from discontinued operations for the fiscal years ended May 28, 2023, May 29, 2022, and May 30, 2021 were as follows (in thousands):


	Year Ended
	May 28, 2023		May 29, 2022		May 30, 2021
			As Restated		As Restated
Product sales	$	49,988	$	261,311	$	443,779
Cost of product sales	51,175		248,670		401,775
Gross profit	(1,187)		12,641		42,004
Operating costs and expenses:
Research and development	220		2,441		3,538
Selling, general and administrative	10,143		24,423		38,100
Impairment of goodwill and long-lived and indefinite-lived assets	1,300		78,146		—
Legal settlement charge	407		—		1,763
Loss on Sale of Eat Smart	—		336		—
Loss on Sale of Yucatan	20,663		—		—
Loss on Sale of O Olive	319		—		—
Gain on Sale of BreatheWay	—		—		—
Restructuring costs	1,255		6,542		3,935
Total operating costs and expenses	34,307		111,888		47,336
Operating loss	(35,494)		(99,247)		(5,332)
Dividend income	—		—		—

Interest expenses	—		(2,682)		(4,957)
Other expense, net	167		—		—
Loss from discontinued operations before taxes	(35,327)		(101,929)		(10,289)
Income tax benefit	—		690		1,432
Loss from discontinued operations, net of tax	$	(35,327)	$	(101,239)	$	(8,857)

Cash provided by (used in) operating activities by the O Olive, Yucatan, and Eat Smart businesses totaled $0.1 million, $(13.6) million, and $22.0 thousand for the years ended May 28, 2023, May 29, 2022, and May 30, 2021, respectively.

Cash provided by (used in) investing activities from the O Olive, Yucatan, and Eat Smart businesses totaled $(42.0) thousand, $105.3 million, and $5.3 million for the years ended May 28, 2023, May 29, 2022, and May 30, 2021, respectively.

Depreciation and amortization expense of the O Olive, Yucatan, and Eat Smart businesses totaled $0.4 million, $7.6 million, and $11.2 million for the years ended May 28, 2023, May 29, 2022, and May 30, 2021, respectively.

Capital expenditures of the O Olive, Yucatan, and Eat Smart businesses totaled $42.0 thousand, $4.5 million, and $7.6 million for the years ended May 28, 2023, May 29, 2022, and May 30, 2021, respectively.

The carrying amounts of the major classes of assets and liabilities of O Olive and Yucatan businesses included in assets and liabilities of discontinued operations are as follows (in thousands):


	May 29, 2022
	As Restated
ASSETS

Cash and cash equivalents	$	652
Accounts receivable, less allowance for credit losses	9,336
Inventories	26,012
Prepaid expenses and other current assets	3,310
Total current assets, discontinued operations	39,310


Property and equipment, net	3,896
Operating lease right-of-use assets	2,933

Trademarks/tradenames, net	4,500
Customer relationships, net	1,400
Other assets	113
Total other assets, discontinued operations	12,842
Total assets, discontinued operations	$	52,152

LIABILITIES

Accounts payable	$	2,850
Accrued compensation	297
Other accrued liabilities	939
Current portion of lease liabilities	658


Total current liabilities, discontinued operations	4,744
Long-term lease liabilities	2,325


Non-current liabilities, discontinued operations	2,325
Total liabilities, discontinued operations	$	7,069

Correction of Errors in Previously Reported Fiscal Year 2022 and 2021 Annual Financial Statements - Statement of Cash Flow (Details) - USD ($) $ in Thousands	3 Months Ended									6 Months Ended			9 Months Ended			12 Months Ended
	Feb. 26, 2023	Nov. 27, 2022	Aug. 28, 2022	Feb. 27, 2022	Nov. 28, 2021	Aug. 29, 2021	Feb. 28, 2021	Nov. 29, 2020	Aug. 30, 2020	Nov. 27, 2022	Nov. 28, 2021	Nov. 29, 2020	Feb. 26, 2023	Feb. 27, 2022	Feb. 28, 2021	May 28, 2023	May 29, 2022	May 30, 2021
Cash flows from operating activities:
Consolidated net loss	$ (36,507)	$ (12,806)	$ (10,966)	$ (13,586)	$ (38,471)	$ (9,387)	$ (6,978)	$ (11,623)	$ (12,410)	$ (23,772)	$ (47,858)		$ (60,279)	$ (61,444)	$ (31,011)	$ (99,563)	$ (116,715)	$ (32,294)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Impairment of goodwill and long-lived and indefinite-lived assets										1,300	32,057		300	32,057		1,300	78,146	0
Depreciation, amortization of intangibles and amortization of debt costs			4,354			5,065			5,102	7,294	10,994		10,507	14,547	14,808	13,285	18,061	19,867
Loss on debt extinguishment																23,741	0	1,110
Deferred taxes			(17)			(2,115)			(4,647)	(13)	(4,964)		57	(5,471)	(7,627)	357	(6,825)	(7,874)
Loss on disposal of property and equipment related to restructuring, net									6,005					5,185		0	5,185	10,143
Change in investment in non-public company, fair value															11,800	0	0	11,469
Non-cash restructuring and impairment of assets charges						(92)					(92)				7,881	640	0	0
Stock-based compensation expense			785			620			892	1,893	1,306		2,796	1,928	2,584	3,612	2,608	3,360
Loss on Sale of Eat Smart														235		0	336	0
Net loss on disposal of property and equipment						16			(11)	22	22			25	39	38	152	61
Provision (benefit) for expected credit losses						60					196		200	(14)	284	163	(14)	940
Other, net			(18)			(70)			21	86	(111)		101	(551)	(12)	86	(426)	(74)
Changes in current assets and current liabilities:
Accounts receivable, net			7,238			7,997			11,179	12,483	4,541		8,943	(7,525)	6,345	10,824	(6,138)	5,775
Inventory, net			2,587			545			6,413	(9,576)	(8,999)		(14,847)	(10,372)	(9,515)	(14,811)	(2,180)	(2,819)
Prepaid expenses and other current assets			(739)			(2,602)			1,366	(725)	(1,938)		(1,309)	(1,440)	1,715	2,156	(689)	8,281
Accounts payable			581			1,517			917	11,709	15,200		11,330	13,534	6,372	16,038	9,343	(5,982)
Accrued compensation			(2,865)			(3,131)			(139)	(4,636)	(5,090)		(1,895)	(2,027)	2,184	(4,483)	(2,546)	3,270
Other accrued liabilities			183			2,870			613	2,777	1,275		8,570	(70)	3,536	7,166	(873)	810
Deferred revenue			(116)			86			125	(188)	30		1,792	662	893	3,136	(18)	428
Net cash (used in) provided by operating activities			(1,101)			1,379			17,226	(3,454)	(3,431)		(15,179)	(20,741)	11,386	(17,441)	(22,593)	16,471
Cash flows from investing activities:
Eat Smart sale net working capital adjustment														(2,390)		0	(9,839)	0
Proceeds from sale of investment in non-public company						45,100					45,100			45,100		0	45,100	0
Purchases of property and equipment			(3,361)			(8,461)			(4,828)	(7,209)	(13,885)		(14,309)	(19,843)	(12,169)	(21,482)	(29,940)	(25,223)
Proceeds from sales of property and equipment						1,082			4,855		1,082			1,096	12,885	0	1,141	12,913
Net cash (used in) provided by investing activities			(226)			37,721			27	(4,074)	32,297		1,357	97,463	716	(4,811)	79,962	(12,310)
Cash flows from financing activities:
Proceeds from long-term debt													3,367		150,000	150,000	20,000	170,000
Payments on long-term debt			(27)			(41,388)			(8,030)	(76)	(41,426)		(3,199)	(86,376)	(114,095)	(123,690)	(86,411)	(114,130)
Proceeds from line of credit			4,000			8,000			11,000	8,800	26,000		18,400	45,011	83,000	31,450	55,111	100,000
Payments on line of credit						(5,000)			(19,400)	(800)	(13,000)		(42,400)	(34,111)	(119,400)	(54,640)	(44,111)	(148,400)
Payments for debt issuance costs						(132)			(512)		(132)		(3,669)	(169)	(9,615)	(6,050)	(821)	(10,484)
Taxes paid by Company for employee stock plans			(67)			(428)			(82)	(209)	(512)		(274)	(518)	(297)	(274)	(789)	(405)
Net cash provided by (used in) financing activities			3,906			(38,948)			(17,024)	12,715	(29,070)		15,129	(76,163)	(10,407)	39,700	(57,021)	(3,419)
Net increase in cash, cash equivalents and restricted cash			2,579			152			229	5,187	(204)		1,307	559	1,695	17,448	348	742
Cash, cash equivalents and restricted cash, beginning of period	6,830	4,222	1,643	1,091	1,447	1,295		589	553	1,643	1,295	$ 553	1,643	1,295	553	1,643	1,295	553
Cash, cash equivalents and restricted cash, end of period	2,950	6,830	4,222	1,854	1,091	1,447	2,248		589	6,830	1,091		2,950	1,854	2,248	19,091	1,643	1,295
As Reported
Cash flows from operating activities:
Consolidated net loss			(11,351)			(9,477)			(11,000)	(23,800)	(47,918)	(24,301)	(63,992)		(29,799)		(114,679)	(32,665)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Impairment of goodwill and long-lived and indefinite-lived assets										1,300	32,057		300				78,146
Depreciation, amortization of intangibles and amortization of debt costs			4,356			5,054			5,102	7,237	10,959	9,826	10,392		14,808		17,884	19,867
Loss on debt extinguishment																		1,110
Deferred taxes			(17)			(2,138)			(4,349)	(13)	(4,963)	(7,070)	57		(7,307)		(6,990)	(7,893)
Loss on disposal of property and equipment related to restructuring, net									6,005								5,185	10,143
Change in investment in non-public company, fair value												11,800			11,800			11,800
Non-cash restructuring and impairment of assets charges						(92)					(92)	6,005			7,881
Stock-based compensation expense			785			620			892	1,893	1,306	1,787	2,796		2,584		2,608	3,360
Loss on Sale of Eat Smart																	336
Net loss on disposal of property and equipment						16			(11)	22	22	(34)			39		152	61
Provision (benefit) for expected credit losses						60					196		0		284		(14)	418
Other, net			(18)			(70)			21	86	(111)	21	101		(12)		(426)	(74)
Changes in current assets and current liabilities:
Accounts receivable, net			7,238			7,997			11,179	12,483	4,541	9,661	8,994		6,345		(6,138)	5,775
Inventory, net			2,560			248			6,313	(10,679)	(9,770)	(4,891)	(13,451)		(10,468)		(5,960)	(3,352)
Prepaid expenses and other current assets			(761)			(2,697)			1,353	(585)	(1,784)	1,539	(1,169)		350		(602)	7,941
Accounts payable			581			1,517			917	11,730	15,148	10,539	11,405		6,372		9,343	(5,982)
Accrued compensation			(2,865)			(3,131)			(139)	(4,636)	(5,090)	(1,345)	(1,895)		2,184		(2,546)	3,270
Other accrued liabilities			183			2,838			613	2,777	1,163	4,627	8,570		3,186		(680)	460
Deferred revenue			(116)			86			125	(188)	30	292	1,792		1,243		(18)	778
Net cash (used in) provided by operating activities			(1,533)			831			17,021	(4,481)	(4,306)	18,456	(17,169)		10,600		(24,399)	15,017
Cash flows from investing activities:
Eat Smart sale net working capital adjustment																	(9,839)
Proceeds from sale of investment in non-public company						45,100					45,100						45,100
Purchases of property and equipment			(2,929)			(7,913)			(4,623)	(6,182)	(13,010)	(7,407)	(12,319)		(11,383)		(28,134)	(23,769)
Proceeds from sales of property and equipment						1,082			4,855		1,082	12,885			12,885		1,141	12,913
Net cash (used in) provided by investing activities			206			38,269			232	(3,047)	33,172	5,478	3,347		1,502		81,768	(10,856)
Cash flows from financing activities:
Proceeds from long-term debt													3,367		150,000		20,000	170,000
Payments on long-term debt			(27)			(41,388)			(8,030)	(76)	(41,426)	(20,062)	(3,199)		(114,095)		(86,411)	(114,130)
Proceeds from line of credit			4,000			8,000			11,000	8,800	26,000	24,000	18,400		83,000		55,111	100,000
Payments on line of credit						(5,000)			(19,400)	(800)	(13,000)	(24,400)	(42,400)		(119,400)		(44,111)	(148,400)
Payments for debt issuance costs						(132)			(512)		(132)	(1,237)	(3,669)		(9,615)		(821)	(10,484)
Taxes paid by Company for employee stock plans			(67)			(428)			(82)	(209)	(512)	(297)	(274)		(297)		(789)	(405)
Net cash provided by (used in) financing activities			3,906			(38,948)			(17,024)	12,715	(29,070)	(21,996)	15,129		(10,407)		(57,021)	(3,419)
Net increase in cash, cash equivalents and restricted cash			2,579			152			229	5,187	(204)	1,938	1,307		1,695		348	742
Cash, cash equivalents and restricted cash, beginning of period	6,830	4,222	1,643	1,091	1,447	1,295	2,491	589	553	1,643	1,295	553	1,643	1,295	553	1,643	1,295	553
Cash, cash equivalents and restricted cash, end of period	2,950	6,830	4,222		1,091	1,447	2,248	2,491	589	6,830	1,091	2,491	2,950		2,248		1,643	1,295
Restatement
Cash flows from operating activities:
Consolidated net loss			385			90			(1,410)	28	60	268	3,713		(1,212)		(2,036)	371
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Impairment of goodwill and long-lived and indefinite-lived assets										0	0		0				0
Depreciation, amortization of intangibles and amortization of debt costs			(2)			11			0	57	35	0	115		0		177	0
Loss on debt extinguishment																		0
Deferred taxes			0			23			(298)	0	(1)	70	0		(320)		165	19
Loss on disposal of property and equipment related to restructuring, net									0								0	0
Change in investment in non-public company, fair value												0			0			(331)
Non-cash restructuring and impairment of assets charges						0					0	0			0
Stock-based compensation expense			0			0			0	0	0	0	0		0		0	0
Loss on Sale of Eat Smart																	0
Net loss on disposal of property and equipment						0			0	0	0	0			0		0	0
Provision (benefit) for expected credit losses						0					0		200		0		0	522
Other, net			0			0			0	0	0	0	0		0		0	0
Changes in current assets and current liabilities:
Accounts receivable, net			0			0			0	0	0	0	(51)		0		0	0
Inventory, net			27			297			100	1,103	771	58	(1,396)		953		3,780	533
Prepaid expenses and other current assets			22			95			13	(140)	(154)	13	(140)		1,365		(87)	340
Accounts payable			0			0			0	(21)	52	0	(75)		0		0	0
Accrued compensation			0			0			0	0	0	0	0		0		0	0
Other accrued liabilities			0			32			0	0	112	0	0		350		(193)	350
Deferred revenue			0			0			0	0	0	0	0		(350)		0	(350)
Net cash (used in) provided by operating activities			432			548			205	1,027	875	409	1,990		786		1,806	1,454
Cash flows from investing activities:
Eat Smart sale net working capital adjustment																	0
Proceeds from sale of investment in non-public company						0					0						0
Purchases of property and equipment			(432)			(548)			(205)	(1,027)	(875)	(409)	(1,990)		(786)		(1,806)	(1,454)
Proceeds from sales of property and equipment						0			0		0	0			0		0	0
Net cash (used in) provided by investing activities			(432)			(548)			(205)	(1,027)	(875)	(409)	(1,990)		(786)		(1,806)	(1,454)
Cash flows from financing activities:
Proceeds from long-term debt													0		0		0	0
Payments on long-term debt			0			0			0	0	0	0	0		0		0	0
Proceeds from line of credit			0			0			0	0	0	0	0		0		0	0
Payments on line of credit						0			0	0	0	0	0		0		0	0
Payments for debt issuance costs						0			0		0	0	0		0		0	0
Taxes paid by Company for employee stock plans			0			0			0	0	0	0	0		0		0	0
Net cash provided by (used in) financing activities			0			0			0	0	0	0	0		0		0	0
Net increase in cash, cash equivalents and restricted cash			0			0			0	0	0	0	0		0		0	0
Cash, cash equivalents and restricted cash, beginning of period	0	0	0	$ 0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash, cash equivalents and restricted cash, end of period	$ 0	$ 0	$ 0		$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0		$ 0		0	0
Eat Smart
Cash flows from investing activities:
Proceeds from divestiture of businesses														$ 73,500		$ 0	73,500	$ 0
Eat Smart \| As Reported
Cash flows from investing activities:
Proceeds from divestiture of businesses																	73,500
Eat Smart \| Restatement
Cash flows from investing activities:
Proceeds from divestiture of businesses																	$ 0

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended						12 Months Ended
Income Taxes - Narrative (Details) - USD ($) $ in Thousands	Feb. 27, 2022	Nov. 28, 2021	Aug. 29, 2021	Feb. 28, 2021	Nov. 29, 2020	Aug. 30, 2020	May 28, 2023	May 29, 2022	May 30, 2021	May 31, 2020
Tax Credit Carryforward [Line Items]
Effective tax rate for the fiscal year							(0.48%)	(25.19%)	21.32%
Income tax benefit	$ 3,886	$ (3,427)	$ 282	$ (923)	$ 804	$ 819	$ 0	$ 690	$ 1,432
Deferred tax asset valuation allowance							52,510	36,531	10,428
Unrecognized tax benefits							1,173	$ 1,041	$ 958	$ 836
Unrecognized tax benefits that would change the effect tax rate if recognized							1,000
Domestic Tax Authority
Tax Credit Carryforward [Line Items]
Net operating loss carryforwards							171,800
Tax credit carryforward amount							$ 3,300
Tax credit carryforward, period							20 years
Deferred tax asset valuation allowance							$ 41,100
State and Local Jurisdiction
Tax Credit Carryforward [Line Items]
Deferred tax asset valuation allowance							11,700
State and Local Jurisdiction \| California
Tax Credit Carryforward [Line Items]
Net operating loss carryforwards							70,700
Tax credit carryforward amount							2,200
State and Local Jurisdiction \| Indiana
Tax Credit Carryforward [Line Items]
Net operating loss carryforwards							33,700
State and Local Jurisdiction \| Other States, Tax Board
Tax Credit Carryforward [Line Items]
Net operating loss carryforwards							33,100
State and Local Jurisdiction \| Minnesota
Tax Credit Carryforward [Line Items]
Tax credit carryforward amount							$ 1,700
Tax credit carryforward, period							15 years

Income Taxes - Provision for Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended									6 Months Ended	12 Months Ended
	Feb. 26, 2023	Nov. 27, 2022	Aug. 28, 2022	Feb. 27, 2022	Nov. 28, 2021	Aug. 29, 2021	Feb. 28, 2021	Nov. 29, 2020	Aug. 30, 2020	Nov. 27, 2022	May 28, 2023	May 29, 2022	May 30, 2021
Current:
Federal											$ (1)	$ 0	$ (38)
State											55	23	74
Foreign											0	356	56
Total											54	379	92
Deferred:
Federal											234	(4,936)	(5,983)
State											20	(654)	(459)
Total											254	(5,590)	(6,442)
Income tax provision (benefit)	$ 70	$ 4	$ 4	$ 3,389	$ (6,275)	$ (1,807)	$ (1,530)	$ (1,528)	$ (3,788)	$ 8	$ 308	$ (5,211)	$ (6,350)

Leases - Maturity Analysis of Operating and Finance Lease Liabilities (Details) $ in Thousands	May 28, 2023 USD ($)
Operating Leases
2024	$ 1,467
2025	1,217
2026	1,228
2027	1,234
2028	1,145
Thereafter	2,647
Total lease payments	8,938
Less: interest	(1,296)
Present value of lease liabilities	7,642
Less: current obligation of lease liabilities	(1,147)
Total long-term lease liabilities	6,495
Finance Leases
2024	492
2025	496
2026	505
2027	517
2028	2,874
Thereafter	0
Total lease payments	4,884
Less: interest	(1,547)
Present value of lease liabilities	3,337
Less: current obligation of lease liabilities	(123)
Total long-term lease liabilities	3,214
Total
2024	1,959
2025	1,713
2026	1,733
2027	1,751
2028	4,019
Thereafter	2,647
Total lease payments	13,822
Less: interest	(2,843)
Present value of lease liabilities	10,979
Less: current obligation of lease liabilities	(1,270)
Total long-term lease liabilities	$ 9,709
Operating lease, liability, current, statement of financial position, extensible enumeration	Current portion of lease liabilities
Finance lease, liability, current, statement of financial position, extensible enumeration	Current portion of lease liabilities
Operating lease, liability, noncurrent, statement of financial position, extensible enumeration	Long-term lease liabilities
Finance lease, liability, noncurrent, statement of financial position, extensible enumeration	Long-term lease liabilities

Debt - Long-term Debt (Details) - USD ($) $ in Thousands	May 28, 2023	Feb. 26, 2023	Nov. 27, 2022	Aug. 28, 2022	May 29, 2022	Feb. 27, 2022	Nov. 28, 2021	Aug. 29, 2021	May 30, 2021	Feb. 28, 2021	Nov. 29, 2020	Aug. 30, 2020
Debt Instrument [Line Items]
Total principal amount of long-term debt	$ 150,233				$ 103,712
Less: unamortized debt discount (2023) / Less: unamortized debt issuance costs (2022)	(605)				(5,534)
Less: debt discount	(64,792)				0
Total long-term debt, net of unamortized debt issuance costs	84,836				98,178
Less: current portion of long-term debt, net	(580)		$ (98,953)	$ (98,569)	(98,178)						$ (11,189)	$ (11,027)
Long-term debt, net	84,256	$ 98,900			0	$ 79,598	$ 124,194	$ 123,833	$ 164,902	$ 145,051	$ 82,000	$ 93,919
Term loan \| Term loan
Debt Instrument [Line Items]
Total principal amount of long-term debt	142,503				103,712
Long-term debt, net	150,233
Equipment sale finance liability
Debt Instrument [Line Items]
Total principal amount of long-term debt	$ 7,730				$ 0

Correction of Errors in Previously Reported Fiscal Year 2022 and 2021 Annual Financial Statements - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended											6 Months Ended			9 Months Ended		12 Months Ended
	May 28, 2023	Feb. 26, 2023	Nov. 27, 2022	Aug. 28, 2022	May 29, 2022	Feb. 27, 2022	Nov. 28, 2021	Aug. 29, 2021	Feb. 28, 2021	Nov. 29, 2020	Aug. 30, 2020	Nov. 27, 2022	Nov. 28, 2021	Nov. 29, 2020	Feb. 26, 2023	Feb. 27, 2022	May 28, 2023	May 29, 2022	May 30, 2021
Disaggregation of Revenue [Line Items]
Product sales	$ 31,145	$ 26,536	$ 21,864	$ 23,724	$ 28,107	$ 35,232	$ 25,601	$ 22,330	$ 27,807	$ 23,792	$ 22,675	$ 45,587					$ 103,269	$ 111,270	$ 100,874
Discontinued Operations
Disaggregation of Revenue [Line Items]
Product sales		1,270	17,111	19,652		2,169	17,889	19,302				36,764						74,556	71,164
As Reported
Disaggregation of Revenue [Line Items]
Product sales																		185,786	171,546
Restatement
Disaggregation of Revenue [Line Items]
Product sales																		40	492
As Restated
Disaggregation of Revenue [Line Items]
Product sales																		185,826	172,038
Contract development and manufacturing organization and Fermentation
Disaggregation of Revenue [Line Items]
Product sales		26,536	21,864	23,724		34,810	24,984	21,952	27,367	23,243	22,032	45,587	$ 46,936	$ 45,276	$ 72,123	$ 81,747		109,360	98,579
Contract development and manufacturing organization and Fermentation \| Discontinued Operations
Disaggregation of Revenue [Line Items]
Product sales		0	0	0		0	0	0	0	0	0	0	0	0				0	0
Contract development and manufacturing organization and Fermentation \| As Reported
Disaggregation of Revenue [Line Items]
Product sales		26,330	21,691	23,703			24,946	21,952		23,219	21,804	45,393	46,898	45,024				109,320	98,087
Contract development and manufacturing organization and Fermentation \| Restatement
Disaggregation of Revenue [Line Items]
Product sales		206	173	21			38	0		24	228	194	38	252				40	492
Contract development and manufacturing organization and Fermentation \| As Restated
Disaggregation of Revenue [Line Items]
Product sales		26,536	21,864	23,724			24,984	21,952		23,243	22,032	45,587	46,936	45,276				109,360	98,579
Contract development and manufacturing organization
Disaggregation of Revenue [Line Items]
Product sales		18,015	16,205	18,268		24,801	21,401	17,789	18,770	18,283	16,716	34,473	39,190	34,999	52,488	63,991	76,378	86,353	75,789
Contract development and manufacturing organization \| Discontinued Operations
Disaggregation of Revenue [Line Items]
Product sales		0	0	0		0	0	0	0	0	0	0	0	0				0	0
Contract development and manufacturing organization \| As Reported
Disaggregation of Revenue [Line Items]
Product sales		17,809	16,032	18,247			21,363	17,789		18,259	16,488	34,279	39,152	34,747				86,313	75,297
Contract development and manufacturing organization \| Restatement
Disaggregation of Revenue [Line Items]
Product sales		206	173	21			38	0		24	228	194	38	252				40	492
Contract development and manufacturing organization \| As Restated
Disaggregation of Revenue [Line Items]
Product sales		18,015	16,205	18,268			21,401	17,789		18,283	16,716	34,473	39,190	34,999				86,353	75,789
Fermentation
Disaggregation of Revenue [Line Items]
Product sales		8,521	5,659	5,456		10,009	3,583	4,163	8,597	4,960	5,316	11,114	7,746	10,277	19,635	17,756	26,891	23,007	22,790
Fermentation \| Discontinued Operations
Disaggregation of Revenue [Line Items]
Product sales		0	0	0		0	0	0	0	0	0	0	0	0				0	0
Fermentation \| As Reported
Disaggregation of Revenue [Line Items]
Product sales		8,521	5,659	5,456			3,583	4,163		4,960	5,316	11,114	7,746	10,277				23,007	22,790
Fermentation \| Restatement
Disaggregation of Revenue [Line Items]
Product sales		0	0	0			0	0		0	0	0	0	0				0	0
Fermentation \| As Restated
Disaggregation of Revenue [Line Items]
Product sales		8,521	5,659	5,456			3,583	4,163		4,960	5,316	11,114	7,746	10,277				23,007	22,790
Other
Disaggregation of Revenue [Line Items]
Product sales		0	0	0		422	617	378	440	549	643	0	995	1,192	0	1,417	$ 0	1,910	2,295
Other \| Discontinued Operations
Disaggregation of Revenue [Line Items]
Product sales		(1,270)	(17,111)	(19,652)		(2,169)	(17,889)	(19,302)	(17,025)	(107,136)	(113,196)	(36,764)	(37,191)	(220,331)				(74,556)	(71,164)
Other \| As Reported
Disaggregation of Revenue [Line Items]
Product sales		1,270	17,111	19,652			18,506	19,680		107,685	113,839	36,764	38,186	221,523				76,466	73,459
Other \| Restatement
Disaggregation of Revenue [Line Items]
Product sales		0	0	0			0	0		0	0	0	0	0				0	0
Other \| As Restated
Disaggregation of Revenue [Line Items]
Product sales		1,270	17,111	19,652			18,506	19,680		107,685	113,839	36,764	38,186	221,523				76,466	73,459
Avocado Products
Disaggregation of Revenue [Line Items]
Product sales		0	0	0			0	0	0	0	0	0	0	0	$ 0			0	0
Avocado Products \| Discontinued Operations
Disaggregation of Revenue [Line Items]
Product sales		(1,270)	(14,915)	(17,093)			(15,381)	(16,962)	(15,378)	(14,713)	(17,017)	(32,009)	(32,343)	(31,730)				(65,269)	(63,575)
Avocado Products \| As Reported
Disaggregation of Revenue [Line Items]
Product sales		1,270	14,915	17,093			15,381	16,962		14,713	17,017	32,009	32,343	31,730				65,269	63,575
Avocado Products \| Restatement
Disaggregation of Revenue [Line Items]
Product sales		0	0	0			0	0		0	0	0	0	0				0	0
Avocado Products \| As Restated
Disaggregation of Revenue [Line Items]
Product sales		$ 1,270	14,915	17,093			15,381	16,962		14,713	17,017	32,009	32,343	31,730				65,269	63,575
Olive oil and vinegars
Disaggregation of Revenue [Line Items]
Product sales			0	0		0	0	0	0			0	0			0		0	0
Olive oil and vinegars \| Discontinued Operations
Disaggregation of Revenue [Line Items]
Product sales			(2,196)	(2,559)		(2,169)	(2,508)	(2,340)	(1,647)			(4,755)	(4,848)					(9,287)	(7,589)
Olive oil and vinegars \| As Reported
Disaggregation of Revenue [Line Items]
Product sales			2,196	2,559			2,508	2,340				4,755	4,848					9,287	7,589
Olive oil and vinegars \| Restatement
Disaggregation of Revenue [Line Items]
Product sales			0	0			0	0				0	0					0	0
Olive oil and vinegars \| As Restated
Disaggregation of Revenue [Line Items]
Product sales			$ 2,196	$ 2,559			2,508	2,340				$ 4,755	4,848					9,287	7,589
Technology
Disaggregation of Revenue [Line Items]
Product sales						422	617	378	440	549	643		995	1,192		$ 1,417		1,910	2,295
Technology \| Discontinued Operations
Disaggregation of Revenue [Line Items]
Product sales						$ 0	0	0	$ 0	0	0		0	0				0	0
Technology \| As Reported
Disaggregation of Revenue [Line Items]
Product sales							617	378		549	643		995	1,192				1,910	2,295
Technology \| Restatement
Disaggregation of Revenue [Line Items]
Product sales							0	0		0	0		0	0				0	0
Technology \| As Restated
Disaggregation of Revenue [Line Items]
Product sales							$ 617	$ 378		$ 549	$ 643		$ 995	$ 1,192				$ 1,910	$ 2,295

Cover Page - USD ($)	12 Months Ended
Cover Page - USD ($)	May 28, 2023	Mar. 11, 2024	Nov. 27, 2022
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	May 28, 2023
Document Transition Report	false
Entity File Number	000-27446
Entity Registrant Name	LIFECORE BIOMEDICAL, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	94-3025618
Entity Address, Address Line One	3515 Lyman Boulevard
Entity Address, City or Town	Chaska,
Entity Address, State or Province	MN
Entity Address, Postal Zip Code	55318
City Area Code	952
Local Phone Number	368-4300
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	LFCR
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	No
Entity Interactive Data Current	No
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction	true
Document Financial Statement Restatement Recovery Analysis	false
Entity Shell Company	false
Entity Public Float			$ 180,939,000
Entity Common Stock, Shares Outstanding		30,546,936
Documents Incorporated by Reference	None.
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Entity Central Index Key	0001005286
Current Fiscal Year End Date	--05-28

Organization, Basis of Presentation, and Summary of Significant Accounting Policies - Organization (Details)	May 28, 2023 product
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of product category	2

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	May 28, 2023	Feb. 26, 2023	Nov. 27, 2022	Aug. 28, 2022	May 29, 2022	Feb. 27, 2022	Nov. 28, 2021	Aug. 29, 2021	May 30, 2021	Feb. 28, 2021	Nov. 29, 2020	Aug. 30, 2020	May 31, 2020
Current Assets:
Cash and cash equivalents	$ 19,091	$ 2,950	$ 5,938	$ 2,540	$ 991	$ 1,101	$ 609	$ 939	$ 763	$ 1,853	$ 2,476	$ 439
Accounts receivable, less allowance for credit losses	29,024	30,974	27,458	31,929	38,314	39,747	27,495	26,216	31,591	28,863	29,600	27,172
Inventories, net	40,841	42,042	38,420	36,154	36,000	34,758	39,715	36,869	33,930	31,441	32,404	28,909
Prepaid expenses and other current assets	4,919	1,473	1,673	1,986	2,053	1,818	1,441	1,324	1,502	5,946	6,795	13,934
Current assets, discontinued operations	0	5,687	45,592	36,896	39,310	49,716	81,293	73,318	77,515	90,219	80,554	74,513
Total Current Assets	93,875	83,126	119,081	109,505	116,668	127,140	150,553	138,666	145,301	158,322	151,829	144,967
Property and equipment, net	134,390	126,326	120,187	118,190	118,670	110,503	108,761	108,400	107,131	95,789	94,988	93,764
Operating lease right-of-use assets	4,282	5,100	5,251	5,396	5,553	5,703	7,487	7,696	13,536	15,403	12,691	13,359
Goodwill	13,881	13,881	13,881	13,881	13,881	13,881	13,881	13,881	13,881	13,881	13,881	13,881
Trademarks/tradenames, net	4,200	4,200	4,200	4,200	4,200	4,200	4,200	4,200	4,200	4,200	4,200	4,200
Other assets	2,917	2,699	2,492	2,680	2,889	2,935	3,083	3,251	3,418	3,375	1,132	1,193
Non-current Assets, discontinued operations	0	1,324	10,881	12,528	12,842	59,829	133,215	168,426	169,367	170,433	173,812	176,065
Total Assets	253,545	236,656	275,973	266,380	274,703	324,242	421,308	444,725	501,885	506,862	498,069	503,043
Current Liabilities:
Accounts payable	22,097	14,657	13,301	9,623	12,952	13,294	8,655	8,606	11,622	8,887	7,985	6,351
Accrued compensation	4,145	6,733	4,104	5,921	8,941	9,418	3,256	4,735	7,500	6,424	4,128	3,974
Other accrued liabilities	7,142	11,626	9,365	6,622	6,479	12,993	3,880	4,713	3,009	5,776	6,115	3,669
Current portion of lease liabilities	1,270	1,216	4,334	4,352	4,368	4,395	1,218	1,236	977	1,005	710	711
Deferred revenue	4,055	2,711	731	803	919	1,614	967	1,069	287	740	297	0
Line of credit	0		48,000	44,000	40,000	39,900	42,000	32,000	29,000	41,000	77,000	69,000
Current portion of long-term debt, net	580		98,953	98,569	98,178						11,189	11,027
Current liabilities, discontinued operations	0	458	16,832	8,845	4,744	8,790	62,416	51,290	49,457	61,481	66,454	58,961
Total Current Liabilities	39,289	37,401	195,620	178,735	176,581	90,404	122,392	103,649	101,852	125,313	173,878	153,693
Long-term debt, net	84,256	98,900			0	79,598	124,194	123,833	164,902	145,051	82,000	93,919
Line of credit	16,809	16,000			0
Debt derivative liability	64,900				0
Long-term lease liabilities	9,709	9,998	7,020	7,294	7,658	7,848	11,344	11,655	17,375	17,919	15,475	16,016
Deferred taxes, net	380	80	10	124	126	796	1,201	3,949	5,975	6,104	6,631	8,877
Other non-current liabilities	3,114	203	201	199	190	544	1,932	2,376	2,870	3,032	4,024	4,138
Non-current liabilities, discontinued operations	0	518	1,979	2,153	2,325	2,494	4,821	6,146	6,965	7,240	8,064	7,861
Total Liabilities	218,457	163,100	204,830	188,505	186,880	181,684	265,884	251,608	299,939	304,659	290,072	284,504
Convertible Preferred stock, $0.001 par value; 2,000 shares authorized; 39 shares issued and outstanding at May 28, 2023 (none at May 29, 2022)	39,318	38,535			0
Stockholders’ (Deficit) Equity:
Common stock, $0.001 par value; 50,000 shares authorized; 30,322 and 29,513 shares issued and outstanding at May 28, 2023 and May 29, 2022, respectively	30	30		30	30	29	29	29	29	29	29	29
Additional paid-in capital	174,276	174,243	173,858	168,070	167,352	166,943	166,327	165,725	165,533	164,865	164,068	163,388
Accumulated deficit	(178,536)	(139,252)	(102,745)	(89,939)	(78,973)	(23,702)	(10,116)	28,355	37,742	39,025	46,003	57,626
Accumulated other comprehensive loss	0			(286)	(586)	(712)	(816)	(992)	(1,358)	(1,716)	(2,103)	(2,504)
Total Stockholders’ (Deficit) Equity	(4,230)	35,021	71,143	77,875	87,823	142,558	155,424	193,117	201,946	202,203	207,997	218,539	$ 229,835
Total Liabilities, Convertible Preferred Stock and Stockholders’ (Deficit) Equity	$ 253,545	$ 236,656	$ 275,973	$ 266,380	$ 274,703	$ 324,242	$ 421,308	$ 444,725	$ 501,885	$ 506,862	$ 498,069	$ 503,043

Organization, Basis of Presentation, and Summary of Significant Accounting Policies - Accounts Receivable, Sales Returns and Allowance for Credit Losses (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended			9 Months Ended			12 Months Ended
	Aug. 28, 2022	Aug. 29, 2021	Aug. 30, 2020	Nov. 27, 2022	Nov. 28, 2021	Nov. 29, 2020	Feb. 26, 2023	Feb. 27, 2022	Feb. 28, 2021	May 28, 2023	May 29, 2022	May 30, 2021
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 522	$ 522	$ 0	$ 522	$ 522	$ 0	$ 522	$ 522	$ 0	$ 522	$ 522	$ 0
Provision	0	0	0	0	0	0	200	0	0	163	0	773
Charge-offs	0	0	0	0	0	0	(200)	0	0	(200)	0	(251)
Ending Balance	$ 522	$ 522	$ 0	$ 522	$ 522	$ 0	$ 522	$ 522	$ 0	$ 485	$ 522	$ 522

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	May 28, 2023	May 29, 2022
Statement of Financial Position [Abstract]
Temporary equity par value (usd per share)	$ 0.001	$ 0.00
Temporary equity, stock authorized (in shares)	2,000,000	0
Temporary equity, shares issued (in shares)	39,000	0
Temporary equity, shares outstanding (in shares)	39,000	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	50,000,000	50,000,000
Common stock, shares issued (in shares)	30,322,000	29,513,000
Common stock, shares outstanding (in shares)	30,322,000	29,513,000

Correction of Errors in Previously Reported Fiscal Year 2022 and 2021 Annual Financial Statements - Restructuring (Details) - USD ($)	3 Months Ended								6 Months Ended			9 Months Ended	12 Months Ended			36 Months Ended
	Feb. 26, 2023	Nov. 27, 2022	Feb. 27, 2022	Nov. 28, 2021	Aug. 29, 2021	Feb. 28, 2021	Nov. 29, 2020	Aug. 30, 2020	Nov. 27, 2022	Nov. 28, 2021	Nov. 29, 2020	Feb. 26, 2023	May 28, 2023	May 29, 2022	May 30, 2021	May 29, 2022
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Impairment of goodwill and long-lived and indefinite-lived assets	$ 2,566,000	$ 563,000	$ 5,274,000	$ 627,000	$ 1,128,000	$ 2,071,000	$ 1,099,000	$ 6,667,000	$ 1,610,000	$ 1,755,000	$ 7,766,000	$ 4,176,000	$ 4,184,000	$ 8,359,000	$ 13,355,000	$ 29,956,000
Curation Foods
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Impairment of goodwill and long-lived and indefinite-lived assets	726,000	(74,000)	5,224,000	(82,000)	(238,000)	1,956,000	943,000	6,020,000	348,000	(320,000)	6,963,000	1,074,000		5,823,000	11,504,000
Other
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Impairment of goodwill and long-lived and indefinite-lived assets	1,840,000	637,000	50,000	709,000	1,366,000	115,000	156,000	647,000	1,262,000	2,075,000	803,000	3,102,000		2,536,000	1,851,000
Discontinued Operations
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Impairment of goodwill and long-lived and indefinite-lived assets	0	0		0	0	0			0	0				0	0
As Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Impairment of goodwill and long-lived and indefinite-lived assets	2,741,000	823,000	5,270,000	707,000	1,834,000	2,023,000	1,662,000	8,404,000	1,870,000	2,541,000	10,066,000	4,611,000		8,961,000	3,759,000
As Reported \| Curation Foods
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Impairment of goodwill and long-lived and indefinite-lived assets	901,000	186,000	5,220,000	(2,000)	468,000	1,908,000	1,506,000	7,757,000	608,000	466,000	9,263,000	1,509,000		6,425,000	1,908,000
As Reported \| Other
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Impairment of goodwill and long-lived and indefinite-lived assets	1,840,000	637,000	50,000	709,000	1,366,000	115,000	156,000	647,000	1,262,000	2,075,000	803,000	3,102,000		2,536,000	1,851,000
Restatement
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Impairment of goodwill and long-lived and indefinite-lived assets	(175,000)	(260,000)	4,000	(80,000)	(706,000)	48,000	0	0	(260,000)	(786,000)	0	(435,000)		(602,000)	9,596,000
Restatement \| Curation Foods
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Impairment of goodwill and long-lived and indefinite-lived assets	(175,000)	(260,000)	4,000	(80,000)	(706,000)	48,000			(260,000)	(786,000)		(435,000)		(602,000)	9,596,000
Restatement \| Other
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Impairment of goodwill and long-lived and indefinite-lived assets	0	0	$ 0	0	0	0			0	0		$ 0		0	0
As Restated
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Impairment of goodwill and long-lived and indefinite-lived assets	2,566,000	563,000		627,000	1,128,000	2,071,000	1,662,000	8,404,000	1,610,000	1,755,000	10,066,000			8,359,000	13,355,000
Asset write-off costs
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Impairment of goodwill and long-lived and indefinite-lived assets					(566,000)	1,877,000		6,005,000		(566,000)	6,005,000		0	3,127,000	8,359,000	13,893,000
Asset write-off costs \| Discontinued Operations
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Impairment of goodwill and long-lived and indefinite-lived assets					0	0				0				0	0
Asset write-off costs \| As Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Impairment of goodwill and long-lived and indefinite-lived assets					0	1,897,000		6,005,000		0	6,005,000			3,693,000	1,870,000
Asset write-off costs \| Restatement
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Impairment of goodwill and long-lived and indefinite-lived assets					(566,000)	(20,000)		0		(566,000)	0			(566,000)	6,489,000
Asset write-off costs \| As Restated
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Impairment of goodwill and long-lived and indefinite-lived assets					(566,000)	1,877,000		6,005,000		(566,000)	6,005,000			3,127,000	8,359,000
Employee severance and benefit costs
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Impairment of goodwill and long-lived and indefinite-lived assets	2,187,000	(113,000)			34,000	65,000	51,000	0	95,000	34,000	51,000		2,542,000	405,000	180,000	4,099,000
Employee severance and benefit costs \| Discontinued Operations
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Impairment of goodwill and long-lived and indefinite-lived assets	0	0			0	0			0	0				0	0
Employee severance and benefit costs \| As Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Impairment of goodwill and long-lived and indefinite-lived assets	2,362,000	36,000			0	0	211,000	905,000	244,000	0	1,115,000			371,000	0
Employee severance and benefit costs \| Restatement
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Impairment of goodwill and long-lived and indefinite-lived assets	(175,000)	(149,000)			34,000	65,000	0	0	(149,000)	34,000	0			34,000	180,000
Employee severance and benefit costs \| As Restated
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Impairment of goodwill and long-lived and indefinite-lived assets	2,187,000	(113,000)			34,000	65,000	211,000	905,000	95,000	34,000	1,115,000			405,000	180,000
Lease costs
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Impairment of goodwill and long-lived and indefinite-lived assets	43,000	25,000			468,000				45,000	468,000			96,000	2,072,000	1,774,000	4,114,000
Lease costs \| Discontinued Operations
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Impairment of goodwill and long-lived and indefinite-lived assets	0	0			0				0	0				0	0
Lease costs \| As Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Impairment of goodwill and long-lived and indefinite-lived assets	43,000	25,000			468,000				45,000	468,000				2,072,000	0
Lease costs \| Restatement
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Impairment of goodwill and long-lived and indefinite-lived assets	0	0			0				0	0				0	1,774,000
Lease costs \| As Restated
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Impairment of goodwill and long-lived and indefinite-lived assets	43,000	25,000			468,000				45,000	468,000				2,072,000	1,774,000
Other restructuring costs
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Impairment of goodwill and long-lived and indefinite-lived assets	336,000	651,000		627,000	1,192,000	129,000	1,048,000	662,000	1,470,000	1,819,000	1,710,000		$ 1,546,000	2,755,000	3,042,000	$ 7,850,000
Other restructuring costs \| Discontinued Operations
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Impairment of goodwill and long-lived and indefinite-lived assets	0	0		0	0	0			0	0				0	0
Other restructuring costs \| As Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Impairment of goodwill and long-lived and indefinite-lived assets	336,000	762,000		707,000	1,366,000	126,000	1,451,000	1,494,000	1,581,000	2,073,000	2,946,000			2,825,000	1,889,000
Other restructuring costs \| Restatement
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Impairment of goodwill and long-lived and indefinite-lived assets	0	(111,000)		(80,000)	(174,000)	3,000	0	0	(111,000)	(254,000)	0			(70,000)	1,153,000
Other restructuring costs \| As Restated
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Impairment of goodwill and long-lived and indefinite-lived assets	$ 336,000	$ 651,000		$ 627,000	$ 1,192,000	$ 129,000	$ 1,451,000	$ 1,494,000	$ 1,470,000	$ 1,819,000	$ 2,946,000			$ 2,755,000	$ 3,042,000

Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	May 28, 2023	May 29, 2022	May 30, 2021
Deferred tax assets:
Accruals and reserves	$ 1,798	$ 1,753	$ 3,622
Net operating loss carryforwards	44,618	28,957	22,083
Stock-based compensation	984	880	1,123
Research and AMT credit carryforwards	6,269	5,611	5,150
Lease liability	1,843	2,874	5,902
Limitations on business interest expense	8,614	3,504	2,108
Goodwill and other indefinite life intangibles	0	2,745
Other	434	752	940
Gross deferred tax assets	64,560	47,076	40,928
Valuation allowance	(52,510)	(36,531)	(10,428)
Net deferred tax assets	12,050	10,545	30,500
Deferred tax liabilities:
Depreciation and amortization	(10,526)	(8,594)	(16,600)
Goodwill and other indefinite life intangibles	(877)	0	(13,406)
Basis difference in investment in non-public company			(1,382)
Right of use asset	(1,027)	(2,077)	(5,087)
Deferred tax liabilities	(12,430)	(10,671)	(36,475)
Net deferred tax liabilities	$ (380)	$ (126)	$ (5,975)

Restructuring Costs - Schedule of Costs (Details) - USD ($) $ in Thousands	3 Months Ended								6 Months Ended			9 Months Ended	12 Months Ended			36 Months Ended
	Feb. 26, 2023	Nov. 27, 2022	Feb. 27, 2022	Nov. 28, 2021	Aug. 29, 2021	Feb. 28, 2021	Nov. 29, 2020	Aug. 30, 2020	Nov. 27, 2022	Nov. 28, 2021	Nov. 29, 2020	Feb. 26, 2023	May 28, 2023	May 29, 2022	May 30, 2021	May 29, 2022
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 2,566	$ 563	$ 5,274	$ 627	$ 1,128	$ 2,071	$ 1,099	$ 6,667	$ 1,610	$ 1,755	$ 7,766	$ 4,176	$ 4,184	$ 8,359	$ 13,355	$ 29,956
Curation Foods
Restructuring Cost and Reserve [Line Items]
Restructuring costs	726	(74)	5,224	(82)	(238)	1,956	943	6,020	348	(320)	6,963	1,074		5,823	11,504
Other
Restructuring Cost and Reserve [Line Items]
Restructuring costs	1,840	637	$ 50	709	1,366	115	156	647	1,262	2,075	803	$ 3,102		2,536	1,851
Asset write-off costs
Restructuring Cost and Reserve [Line Items]
Restructuring costs					(566)	1,877		6,005		(566)	6,005		0	3,127	8,359	13,893
Employee severance and benefit costs
Restructuring Cost and Reserve [Line Items]
Restructuring costs	2,187	(113)			34	65	51	0	95	34	51		2,542	405	180	4,099
Lease costs
Restructuring Cost and Reserve [Line Items]
Restructuring costs	43	25			468				45	468			96	2,072	1,774	4,114
Other restructuring costs
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 336	$ 651		$ 627	$ 1,192	$ 129	$ 1,048	$ 662	$ 1,470	$ 1,819	$ 1,710		$ 1,546	$ 2,755	$ 3,042	$ 7,850

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Organization, Basis of Presentation, and Summary of Significant Accounting Policies - Advertising Cost, Related Party, and Property and Equipment and Finite-Lived Intangible Assets Narrative (Details)				3 Months Ended											6 Months Ended	9 Months Ended	12 Months Ended
	May 03, 2023	Jan. 09, 2023 USD ($) d $ / shares shares	Nov. 25, 2022 USD ($) $ / shares shares	May 28, 2023 USD ($) $ / shares	Feb. 26, 2023 USD ($) shares	Nov. 27, 2022 USD ($)	Aug. 28, 2022 USD ($)	May 29, 2022 USD ($) $ / shares	Feb. 27, 2022 USD ($)	Nov. 28, 2021 USD ($)	Aug. 29, 2021 USD ($)	Feb. 28, 2021 USD ($)	Nov. 29, 2020 USD ($)	Aug. 30, 2020 USD ($)	Nov. 27, 2022 USD ($)	Feb. 26, 2023 USD ($)	May 28, 2023 USD ($) $ / shares shares	May 29, 2022 USD ($) $ / shares	May 30, 2021 USD ($)
Organization, Basis of Presentation, and Summary of Significant Accounting Policies [Line Items]
Advertising expense																	$ 5,100	$ 5,600	$ 100
Product sales				$ 31,145,000	$ 26,536,000	$ 21,864,000	$ 23,724,000	$ 28,107,000	$ 35,232,000	$ 25,601,000	$ 22,330,000	$ 27,807,000	$ 23,792,000	$ 22,675,000	$ 45,587,000		103,269,000	111,270,000	100,874,000
Accounts receivable, less allowance for credit losses				$ 29,024,000	$ 30,974,000	$ 27,458,000	$ 31,929,000	$ 38,314,000	$ 39,747,000	$ 27,495,000	$ 26,216,000	$ 28,863,000	$ 29,600,000	$ 27,172,000	$ 27,458,000	$ 30,974,000	$ 29,024,000	$ 38,314,000	31,591,000
Proceeds of Convertible Preferred Stock, net of issuance costs (in shares) \| shares					39,000												39,000
Temporary equity par value (usd per share) \| $ / shares				$ 0.001				$ 0.00									$ 0.001	$ 0.00
Proceeds from sale of preferred stock, net of issuance costs																$ 38,082,000	$ 38,082,000	$ 0	0
Percent of preferred stock outstanding																	30.00%
Available I=indebtedness threshold				$ 175,000,000													$ 175,000,000
Supply agreement, automatic term extension	2 years
Related Party
Organization, Basis of Presentation, and Summary of Significant Accounting Policies [Line Items]
Product sales																	40,200,000	29,400,000	$ 31,900,000
Accounts receivable, less allowance for credit losses				9,100,000				$ 6,300,000									$ 9,100,000	6,300,000
Series A Preferred Stock
Organization, Basis of Presentation, and Summary of Significant Accounting Policies [Line Items]
Proceeds of Convertible Preferred Stock, net of issuance costs (in shares) \| shares		38,750
Temporary equity par value (usd per share) \| $ / shares		$ 0.001
Proceeds from sale of preferred stock, net of issuance costs		$ 38,800,000		$ 38,800,000
Dividend percentage rate		7.50%
Liquidation preference per share (usd per share) \| $ / shares		$ 7.00
Mandatory conversion right, threshold trading days \| d		20
Mandatory conversion right minimum		150.00%
Private Placement
Organization, Basis of Presentation, and Summary of Significant Accounting Policies [Line Items]
Number of shares issued in transaction (in shares) \| shares			627,746
Consideration received on transaction			$ 5,000,000
Sale of stock price (usd per share) \| $ / shares			$ 7.97
Property, Plant and Equipment \| Yucatan Foods
Organization, Basis of Presentation, and Summary of Significant Accounting Policies [Line Items]
Asset impairment charges																		11,900,000
Customer relationships \| Yucatan Foods
Organization, Basis of Presentation, and Summary of Significant Accounting Policies [Line Items]
Asset impairment charges																		$ 5,800,000
Minimum \| Software Development
Organization, Basis of Presentation, and Summary of Significant Accounting Policies [Line Items]
Useful life of property and equipment				3 years													3 years
Maximum \| Software Development
Organization, Basis of Presentation, and Summary of Significant Accounting Policies [Line Items]
Useful life of property and equipment				7 years													7 years

Income Taxes - Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands	3 Months Ended									6 Months Ended	12 Months Ended
	Feb. 26, 2023	Nov. 27, 2022	Aug. 28, 2022	Feb. 27, 2022	Nov. 28, 2021	Aug. 29, 2021	Feb. 28, 2021	Nov. 29, 2020	Aug. 30, 2020	Nov. 27, 2022	May 28, 2023	May 29, 2022	May 30, 2021
Income Tax Disclosure [Abstract]
Tax at U.S. statutory rate											$ (13,932)	$ (4,344)	$ (6,256)
State income taxes, net of federal benefit											(1,805)	(638)	(830)
Change in valuation allowance											19,461	(1,065)	2,597
Tax credit carryforwards											(611)	(436)	(606)
Other compensation-related activity											283	234	249
Impairment of goodwill											0	2,347	0
Foreign rate differential											(2,749)	(496)	(1,414)
Other											(339)	(813)	(90)
Income tax provision (benefit)	$ 70	$ 4	$ 4	$ 3,389	$ (6,275)	$ (1,807)	$ (1,530)	$ (1,528)	$ (3,788)	$ 8	$ 308	$ (5,211)	$ (6,350)

Property and Equipment

12 Months Ended

May 28, 2023

Property, Plant and Equipment [Abstract]

Property and Equipment

Property and equipment consists of the following (in thousands):


	Years of Useful Life			Year Ended
				May 28, 2023		May 29, 2022
						As Restated
Land				$	3,739	$	3,710
Buildings	15	-	40	60,688		58,359
Leasehold improvements	3	-	15	4,019		4,019
Computers, capitalized software, machinery, equipment and autos	3	-	25	75,181		70,462
Furniture and fixtures	3	-	7	2,182		2,091
Construction in process				45,587		26,892
Gross property and equipment				191,396		165,533
Less accumulated depreciation and amortization				(57,006)		(46,863)
Property and equipment, net				$	134,390	$	118,670

Depreciation and amortization expense for property and equipment for the fiscal years ended May 28, 2023, May 29, 2022 and May 30, 2021 was $10.3 million, $7.1 million and $5.3 million, respectively. Amortization related to finance leases,

which is included in depreciation expense, was $0.1 million for the fiscal years ended May 28, 2023, May 29, 2022, and May 30, 2021.

During fiscal years 2023, 2022 and 2021, the Company capitalized $0.4 million, $0.3 million, and $0.4 million in software development costs, respectively. Amortization related to capitalized software was $0.5 million, $0.4 million, and $0.4 million for fiscal years ended May 28, 2023, May 29, 2022 and May 30, 2021, respectively. The unamortized computer software costs as of May 28, 2023 and May 29, 2022 were $1.8 million and $1.8 million, respectively. Capitalized interest on construction projects was $3.6 million, $2.1 million, and $1.8 million for fiscal years ended May 28, 2023, May 29, 2022 and May 30, 2021, respectively.

The Company recorded an impairment of property and equipment related to the Curation Foods Santa Maria Office leasehold improvements of $3.7 million and an impairment of property and equipment related to Yucatan of $11.9 million for the year ended May 29, 2022, which are recorded in Loss on discontinued operations on the Consolidated Statements of Operations. There were no impairments to Property & Equipment for the year ended May 28, 2023.

Assets Held for Sale

In May 2022 the Board of Directors approved a plan to sell the assets of Curation Foods’ BreatheWay packaging technology business. The $1.0 million carrying value of these assets ($0.9 million of inventory and $0.1 million net book value of property and equipment) are included in Prepaid expenses and other current assets on the Consolidated Balance Sheets as of May 29, 2022, and were classified as assets held for sale. There was no impairment recorded in fiscal year 2022. These assets were sold in fiscal year 2023 for gross proceeds of $3.1 million and for a gain of $2.1 million.

Correction of Errors in Previously Reported Fiscal Year 2022 and 2021 Annual Financial Statements - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	May 28, 2023	May 29, 2022	May 30, 2021
Deferred tax assets:
Accruals and reserves	$ 1,798	$ 1,753	$ 3,622
Net operating loss carryforwards	44,618	28,957	22,083
Stock-based compensation	984	880	1,123
Research and AMT credit carryforwards	6,269	5,611	5,150
Lease liability	1,843	2,874	5,902
Limitations on business interest expense	8,614	3,504	2,108
Goodwill and other indefinite life intangibles	0	2,745
Other	434	752	940
Gross deferred tax assets	64,560	47,076	40,928
Valuation allowance	(52,510)	(36,531)	(10,428)
Net deferred tax assets	(12,050)	(10,545)	(30,500)
Deferred tax liabilities:
Depreciation and amortization	(10,526)	(8,594)	(16,600)
Goodwill and other indefinite life intangibles	(877)	0	(13,406)
Basis difference in investment in non-public company			(1,382)
Right of use asset	(1,027)	(2,077)	(5,087)
Deferred tax liabilities	(12,430)	(10,671)	(36,475)
Net deferred tax liabilities	$ (380)	(126)	(5,975)
Discontinued Operations
Deferred tax assets:
Accruals and reserves		0	0
Net operating loss carryforwards		0	0
Stock-based compensation		0	0
Research and AMT credit carryforwards		0	0
Lease liability		0	0
Limitations on business interest expense		0	0
Goodwill and other indefinite life intangibles		0
Other		0	0
Gross deferred tax assets		0	0
Valuation allowance		0	0
Net deferred tax assets		0	0
Deferred tax liabilities:
Depreciation and amortization		0	0
Goodwill and other indefinite life intangibles			0
Basis difference in investment in non-public company			0
Right of use asset		0	0
Deferred tax liabilities		0	0
Net deferred tax liabilities		0	0
As Reported
Deferred tax assets:
Accruals and reserves		867	3,366
Net operating loss carryforwards		28,558	21,916
Stock-based compensation		880	1,123
Research and AMT credit carryforwards		5,611	5,150
Lease liability		2,874	5,902
Limitations on business interest expense		4,245	2,411
Goodwill and other indefinite life intangibles		2,745
Other		750	927
Gross deferred tax assets		46,530	40,795
Valuation allowance		(35,942)	(10,460)
Net deferred tax assets		(10,588)	(30,335)
Deferred tax liabilities:
Depreciation and amortization		(8,614)	(16,600)
Goodwill and other indefinite life intangibles			(13,406)
Basis difference in investment in non-public company			(1,382)
Right of use asset		(2,100)	(5,087)
Deferred tax liabilities		(10,714)	(36,475)
Net deferred tax liabilities		(126)	(6,140)
Restatement
Deferred tax assets:
Accruals and reserves		886	256
Net operating loss carryforwards		399	167
Stock-based compensation		0	0
Research and AMT credit carryforwards		0	0
Lease liability		0	0
Limitations on business interest expense		(741)	(303)
Goodwill and other indefinite life intangibles		0
Other		2	13
Gross deferred tax assets		546	133
Valuation allowance		(589)	32
Net deferred tax assets		43	(165)
Deferred tax liabilities:
Depreciation and amortization		20	0
Goodwill and other indefinite life intangibles			0
Basis difference in investment in non-public company			0
Right of use asset		23	0
Deferred tax liabilities		43	0
Net deferred tax liabilities		0	165
As Restated
Deferred tax assets:
Accruals and reserves		1,753	3,622
Net operating loss carryforwards		28,957	22,083
Stock-based compensation		880	1,123
Research and AMT credit carryforwards		5,611	5,150
Lease liability		2,874	5,902
Limitations on business interest expense		3,504	2,108
Goodwill and other indefinite life intangibles		2,745
Other		752	940
Gross deferred tax assets		47,076	40,928
Valuation allowance		(36,531)	(10,428)
Net deferred tax assets		(10,545)	(30,500)
Deferred tax liabilities:
Depreciation and amortization		(8,594)	(16,600)
Goodwill and other indefinite life intangibles			(13,406)
Basis difference in investment in non-public company			(1,382)
Right of use asset		(2,077)	(5,087)
Deferred tax liabilities		(10,671)	(36,475)
Net deferred tax liabilities		$ (126)	$ (5,975)

Organization, Basis of Presentation, and Summary of Significant Accounting Policies - Diluted Net (Loss) Income Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended											6 Months Ended			9 Months Ended			12 Months Ended
	May 28, 2023	Feb. 26, 2023	Nov. 27, 2022	Aug. 28, 2022	May 29, 2022	Feb. 27, 2022	Nov. 28, 2021	Aug. 29, 2021	Feb. 28, 2021	Nov. 29, 2020	Aug. 30, 2020	Nov. 27, 2022	Nov. 28, 2021	Nov. 29, 2020	Feb. 26, 2023	Feb. 27, 2022	Feb. 28, 2021	May 28, 2023	May 29, 2022	May 30, 2021
Numerator:
Net loss		$ (36,507)	$ (12,806)	$ (10,966)		$ (13,586)	$ (38,471)	$ (9,387)	$ (6,978)	$ (11,623)	$ (12,410)	$ (23,772)	$ (47,858)	$ (24,033)	$ (60,279)	$ (61,444)	$ (31,011)	$ (99,563)	$ (116,715)	$ (32,294)
Denominator:
Weighted average shares for basic net loss per share (in shares)		30,304	29,634	29,577		29,482	29,471	29,424	29,323	29,280	29,242	29,605	29,448	29,261	29,838	29,459	29,282	29,958	29,466	29,294
Weighted average shares for diluted net loss per share (in shares)		30,304	29,634	29,577		29,482	29,471	29,424	29,323	29,280	29,242	29,605	29,448	29,261	29,838	29,459	29,282	29,958	29,466	29,294
Diluted net loss per share (in dollars per share)	$ (1.32)	$ (1.20)	$ (0.43)	$ (0.37)	$ (1.88)	$ (0.46)	$ (1.31)	$ (0.32)	$ (0.24)	$ (0.40)	$ (0.42)	$ (0.80)	$ (1.63)	$ (0.82)	$ (2.02)	$ (2.09)	$ (1.06)	$ (3.32)	$ (3.97)	$ (1.10)

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-3

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482635/260-10-55-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (e)(4)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-7

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-2

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 60B
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-60B

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-4

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(25))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(27))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(23))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 15: http://www.xbrl.org/2003/role/exampleRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 52
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482635/260-10-55-52

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-7

+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Stock-based Compensation and Stockholders’ Equity - Summary of Stock-based Compensation by Income Statement Line Item (Details) - USD ($) $ in Thousands	12 Months Ended
	May 28, 2023	May 29, 2022	May 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation	$ 3,612	$ 2,608	$ 3,360
Discontinued Operations
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation	0	(34)	55
Cost of sales \| Continuing Operations
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation	404	314	348
Research and development \| Continuing Operations
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation	193	202	223
Selling, general and administrative \| Continuing Operations
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation	$ 3,015	$ 2,126	$ 2,734

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Restructuring Costs - Narrative (Details) - USD ($)	3 Months Ended		12 Months Ended
Restructuring Costs - Narrative (Details) - USD ($)	Feb. 28, 2021	May 31, 2020	May 28, 2023	May 29, 2022	May 30, 2021
Restructuring Cost and Reserve [Line Items]
Impairment of long-lived assets to be disposed of				$ 0
Operating lease, impairment loss					$ 1,700,000
Equipment \| BreatheWay
Restructuring Cost and Reserve [Line Items]
Impairment of long-lived assets to be disposed of	$ 1,900,000	$ 1,900,000
Santa Maria Office
Restructuring Cost and Reserve [Line Items]
Impairment of long-lived assets to be disposed of				3,700,000
Impairment of leasehold				5,300,000
Operating lease, impairment loss			$ 600,000	$ 1,600,000

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Unaudited Quarterly Consolidated Financial Information - Statement of Cash Flow (Details) - USD ($) $ in Thousands	3 Months Ended										6 Months Ended			9 Months Ended			12 Months Ended
	May 28, 2023	Feb. 26, 2023	Nov. 27, 2022	Aug. 28, 2022	Feb. 27, 2022	Nov. 28, 2021	Aug. 29, 2021	Feb. 28, 2021	Nov. 29, 2020	Aug. 30, 2020	Nov. 27, 2022	Nov. 28, 2021	Nov. 29, 2020	Feb. 26, 2023	Feb. 27, 2022	Feb. 28, 2021	May 28, 2023	May 29, 2022	May 30, 2021
Cash flows from operating activities:
Consolidated net loss		$ (36,507)	$ (12,806)	$ (10,966)	$ (13,586)	$ (38,471)	$ (9,387)	$ (6,978)	$ (11,623)	$ (12,410)	$ (23,772)	$ (47,858)		$ (60,279)	$ (61,444)	$ (31,011)	$ (99,563)	$ (116,715)	$ (32,294)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Impairment of goodwill and long-lived and indefinite-lived assets											1,300	32,057		300	32,057		1,300	78,146	0
Depreciation, amortization of intangibles and amortization of debt costs				4,354			5,065			5,102	7,294	10,994		10,507	14,547	14,808	13,285	18,061	19,867
Loss on debt extinguishment																1,110
Stock-based compensation expense				785			620			892	1,893	1,306		2,796	1,928	2,584	3,612	2,608	3,360
Deferred taxes				(17)			(2,115)			(4,647)	(13)	(4,964)		57	(5,471)	(7,627)	357	(6,825)	(7,874)
Loss on Sale of Eat Smart															235		0	336	0
Loss on disposal of property and equipment related to restructuring, net										6,005					5,185		0	5,185	10,143
Provision (benefit) for expected credit losses							60					196		200	(14)	284	163	(14)	940
Change in investment in non-public company, fair value																11,800	0	0	11,469
Net loss on disposal of property and equipment							16			(11)	22	22			25	39	38	152	61
Loss on Windset										1,800
Non-cash restructuring and impairment of assets charges							(92)					(92)				7,881	640	0	0
Other, net				(18)			(70)			21	86	(111)		101	(551)	(12)	86	(426)	(74)
Changes in current assets and current liabilities:
Accounts receivable, net				7,238			7,997			11,179	12,483	4,541		8,943	(7,525)	6,345	10,824	(6,138)	5,775
Inventory, net				2,587			545			6,413	(9,576)	(8,999)		(14,847)	(10,372)	(9,515)	(14,811)	(2,180)	(2,819)
Prepaid expenses and other current assets				(739)			(2,602)			1,366	(725)	(1,938)		(1,309)	(1,440)	1,715	2,156	(689)	8,281
Accounts payable				581			1,517			917	11,709	15,200		11,330	13,534	6,372	16,038	9,343	(5,982)
Accrued compensation				(2,865)			(3,131)			(139)	(4,636)	(5,090)		(1,895)	(2,027)	2,184	(4,483)	(2,546)	3,270
Other accrued liabilities				183			2,870			613	2,777	1,275		8,570	(70)	3,536	7,166	(873)	810
Deferred revenue				(116)			86			125	(188)	30		1,792	662	893	3,136	(18)	428
Net cash (used in) provided by operating activities				(1,101)			1,379			17,226	(3,454)	(3,431)		(15,179)	(20,741)	11,386	(17,441)	(22,593)	16,471
Cash flows from investing activities:
Purchases of property and equipment				(3,361)			(8,461)			(4,828)	(7,209)	(13,885)		(14,309)	(19,843)	(12,169)	(21,482)	(29,940)	(25,223)
Proceeds from sale of investment in non-public company							45,100					45,100			45,100		0	45,100	0
Eat Smart sale net working capital adjustment															(2,390)		0	(9,839)	0
Proceeds from sales of property and equipment							1,082			4,855		1,082			1,096	12,885	0	1,141	12,913
Net cash (used in) provided by investing activities				(226)			37,721			27	(4,074)	32,297		1,357	97,463	716	(4,811)	79,962	(12,310)
Cash flows from financing activities:
Proceeds from sale of common stock, net of issuance costs											5,000			4,822			4,822	0	0
Proceeds from long-term debt														3,367		150,000	150,000	20,000	170,000
Payments on long-term debt				(27)			(41,388)			(8,030)	(76)	(41,426)		(3,199)	(86,376)	(114,095)	(123,690)	(86,411)	(114,130)
Proceeds from line of credit				4,000			8,000			11,000	8,800	26,000		18,400	45,011	83,000	31,450	55,111	100,000
Payments on line of credit							(5,000)			(19,400)	(800)	(13,000)		(42,400)	(34,111)	(119,400)	(54,640)	(44,111)	(148,400)
Payments for debt issuance costs							(132)			(512)		(132)		(3,669)	(169)	(9,615)	(6,050)	(821)	(10,484)
Proceeds from sale of preferred stock, net of issuance costs														38,082			38,082	0	0
Taxes paid by Company for employee stock plans				(67)			(428)			(82)	(209)	(512)		(274)	(518)	(297)	(274)	(789)	(405)
Net cash provided by (used in) financing activities				3,906			(38,948)			(17,024)	12,715	(29,070)		15,129	(76,163)	(10,407)	39,700	(57,021)	(3,419)
Net increase in cash, cash equivalents and restricted cash				2,579			152			229	5,187	(204)		1,307	559	1,695	17,448	348	742
Cash, cash equivalents and restricted cash, beginning of period	$ 2,950	6,830	4,222	1,643	1,091	1,447	1,295		589	553	1,643	1,295	$ 553	1,643	1,295	553	1,643	1,295	553
Cash, cash equivalents and restricted cash, end of period	19,091	2,950	6,830	4,222	1,854	1,091	1,447	2,248		589	6,830	1,091		2,950	1,854	2,248	19,091	1,643	1,295
Supplemental disclosure of non-cash investing and financing activities:
Purchases of property and equipment on trade vendor credit				2,243			1,994			978	2,700	1,105		3,918	1,764	1,124	6,945	2,260	4,724
Convertible Preferred Stock Paid in Kind (PIK) dividend														(428)			(1,163)	0	0
After Discontinued Operations Restatement
Cash flows from operating activities:
Consolidated net loss												(47,858)	(24,033)	(60,279)
As Reported
Cash flows from operating activities:
Consolidated net loss				(11,351)			(9,477)			(11,000)	(23,800)	(47,918)	(24,301)	(63,992)		(29,799)		(114,679)	(32,665)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Impairment of goodwill and long-lived and indefinite-lived assets											1,300	32,057		300				78,146
Depreciation, amortization of intangibles and amortization of debt costs				4,356			5,054			5,102	7,237	10,959	9,826	10,392		14,808		17,884	19,867
Loss on debt extinguishment																1,110
Stock-based compensation expense				785			620			892	1,893	1,306	1,787	2,796		2,584		2,608	3,360
Deferred taxes				(17)			(2,138)			(4,349)	(13)	(4,963)	(7,070)	57		(7,307)		(6,990)	(7,893)
Loss on Sale of Eat Smart																		336
Loss on disposal of property and equipment related to restructuring, net										6,005								5,185	10,143
Provision (benefit) for expected credit losses							60					196		0		284		(14)	418
Change in investment in non-public company, fair value													11,800			11,800			11,800
Net loss on disposal of property and equipment							16			(11)	22	22	(34)			39		152	61
Loss on Windset										0
Non-cash restructuring and impairment of assets charges							(92)					(92)	6,005			7,881
Other, net				(18)			(70)			21	86	(111)	21	101		(12)		(426)	(74)
Changes in current assets and current liabilities:
Accounts receivable, net				7,238			7,997			11,179	12,483	4,541	9,661	8,994		6,345		(6,138)	5,775
Inventory, net				2,560			248			6,313	(10,679)	(9,770)	(4,891)	(13,451)		(10,468)		(5,960)	(3,352)
Prepaid expenses and other current assets				(761)			(2,697)			1,353	(585)	(1,784)	1,539	(1,169)		350		(602)	7,941
Accounts payable				581			1,517			917	11,730	15,148	10,539	11,405		6,372		9,343	(5,982)
Accrued compensation				(2,865)			(3,131)			(139)	(4,636)	(5,090)	(1,345)	(1,895)		2,184		(2,546)	3,270
Other accrued liabilities				183			2,838			613	2,777	1,163	4,627	8,570		3,186		(680)	460
Deferred revenue				(116)			86			125	(188)	30	292	1,792		1,243		(18)	778
Net cash (used in) provided by operating activities				(1,533)			831			17,021	(4,481)	(4,306)	18,456	(17,169)		10,600		(24,399)	15,017
Cash flows from investing activities:
Purchases of property and equipment				(2,929)			(7,913)			(4,623)	(6,182)	(13,010)	(7,407)	(12,319)		(11,383)		(28,134)	(23,769)
Proceeds from sale of investment in non-public company							45,100					45,100						45,100
Eat Smart sale net working capital adjustment																		(9,839)
Proceeds from sales of property and equipment							1,082			4,855		1,082	12,885			12,885		1,141	12,913
Net cash (used in) provided by investing activities				206			38,269			232	(3,047)	33,172	5,478	3,347		1,502		81,768	(10,856)
Cash flows from financing activities:
Proceeds from sale of common stock, net of issuance costs											5,000			4,822
Proceeds from long-term debt														3,367		150,000		20,000	170,000
Payments on long-term debt				(27)			(41,388)			(8,030)	(76)	(41,426)	(20,062)	(3,199)		(114,095)		(86,411)	(114,130)
Proceeds from line of credit				4,000			8,000			11,000	8,800	26,000	24,000	18,400		83,000		55,111	100,000
Payments on line of credit							(5,000)			(19,400)	(800)	(13,000)	(24,400)	(42,400)		(119,400)		(44,111)	(148,400)
Payments for debt issuance costs							(132)			(512)		(132)	(1,237)	(3,669)		(9,615)		(821)	(10,484)
Proceeds from sale of preferred stock, net of issuance costs														38,082
Taxes paid by Company for employee stock plans				(67)			(428)			(82)	(209)	(512)	(297)	(274)		(297)		(789)	(405)
Net cash provided by (used in) financing activities				3,906			(38,948)			(17,024)	12,715	(29,070)	(21,996)	15,129		(10,407)		(57,021)	(3,419)
Net increase in cash, cash equivalents and restricted cash				2,579			152			229	5,187	(204)	1,938	1,307		1,695		348	742
Cash, cash equivalents and restricted cash, beginning of period	2,950	6,830	4,222	1,643	1,091	1,447	1,295	2,491	589	553	1,643	1,295	553	1,643	1,295	553	1,643	1,295	553
Cash, cash equivalents and restricted cash, end of period		2,950	6,830	4,222		1,091	1,447	2,248	2,491	589	6,830	1,091	2,491	2,950		2,248		1,643	1,295
Supplemental disclosure of non-cash investing and financing activities:
Purchases of property and equipment on trade vendor credit				2,243			1,994			978	2,700	1,105	1,526	3,918		1,124
Convertible Preferred Stock Paid in Kind (PIK) dividend		(428)												(428)
As Reported \| Before Discontinued Operations Restatement
Cash flows from operating activities:
Consolidated net loss		(40,192)	(12,449)	(11,351)	(13,086)	(38,441)	(9,477)	(5,498)	(13,301)	(11,000)	(23,800)
Cash flows from financing activities:
Cash, cash equivalents and restricted cash, beginning of period										360			360			360			360
As Reported \| After Discontinued Operations Restatement
Cash flows from operating activities:
Consolidated net loss												(47,918)	(24,301)	(63,992)	(61,116)	(29,799)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Impairment of goodwill and long-lived and indefinite-lived assets															32,057
Depreciation, amortization of intangibles and amortization of debt costs															14,488
Stock-based compensation expense															1,928
Deferred taxes															(5,471)
Loss on Sale of Eat Smart															235
Loss on disposal of property and equipment related to restructuring, net															5,185
Provision (benefit) for expected credit losses															(14)
Net loss on disposal of property and equipment															25
Other, net															(551)
Changes in current assets and current liabilities:
Accounts receivable, net															(7,525)
Inventory, net															(11,910)
Prepaid expenses and other current assets															(1,448)
Accounts payable															13,507
Accrued compensation															(2,027)
Other accrued liabilities															(70)
Deferred revenue															662
Net cash (used in) provided by operating activities															(22,045)
Cash flows from investing activities:
Purchases of property and equipment															(18,539)
Proceeds from sale of investment in non-public company															45,100
Eat Smart sale net working capital adjustment															(2,390)
Proceeds from sales of property and equipment															1,096
Net cash (used in) provided by investing activities															98,767
Cash flows from financing activities:
Payments on long-term debt															(86,376)
Proceeds from line of credit															45,011
Payments on line of credit															(34,111)
Payments for debt issuance costs															(169)
Taxes paid by Company for employee stock plans															(518)
Net cash provided by (used in) financing activities															(76,163)
Net increase in cash, cash equivalents and restricted cash															559
Cash, cash equivalents and restricted cash, beginning of period							1,295					1,295			1,295			1,295
Cash, cash equivalents and restricted cash, end of period					1,854										1,854				1,295
Supplemental disclosure of non-cash investing and financing activities:
Purchases of property and equipment on trade vendor credit															1,764
Restatement
Cash flows from operating activities:
Consolidated net loss				385			90			(1,410)	28	60	268	3,713		(1,212)		(2,036)	371
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Impairment of goodwill and long-lived and indefinite-lived assets											0	0		0				0
Depreciation, amortization of intangibles and amortization of debt costs				(2)			11			0	57	35	0	115		0		177	0
Loss on debt extinguishment																0
Stock-based compensation expense				0			0			0	0	0	0	0		0		0	0
Deferred taxes				0			23			(298)	0	(1)	70	0		(320)		165	19
Loss on Sale of Eat Smart																		0
Loss on disposal of property and equipment related to restructuring, net										0								0	0
Provision (benefit) for expected credit losses							0					0		200		0		0	522
Change in investment in non-public company, fair value													0			0			(331)
Net loss on disposal of property and equipment							0			0	0	0	0			0		0	0
Loss on Windset										1,800
Non-cash restructuring and impairment of assets charges							0					0	0			0
Other, net				0			0			0	0	0	0	0		0		0	0
Changes in current assets and current liabilities:
Accounts receivable, net				0			0			0	0	0	0	(51)		0		0	0
Inventory, net				27			297			100	1,103	771	58	(1,396)		953		3,780	533
Prepaid expenses and other current assets				22			95			13	(140)	(154)	13	(140)		1,365		(87)	340
Accounts payable				0			0			0	(21)	52	0	(75)		0		0	0
Accrued compensation				0			0			0	0	0	0	0		0		0	0
Other accrued liabilities				0			32			0	0	112	0	0		350		(193)	350
Deferred revenue				0			0			0	0	0	0	0		(350)		0	(350)
Net cash (used in) provided by operating activities				432			548			205	1,027	875	409	1,990		786		1,806	1,454
Cash flows from investing activities:
Purchases of property and equipment				(432)			(548)			(205)	(1,027)	(875)	(409)	(1,990)		(786)		(1,806)	(1,454)
Proceeds from sale of investment in non-public company							0					0						0
Eat Smart sale net working capital adjustment																		0
Proceeds from sales of property and equipment							0			0		0	0			0		0	0
Net cash (used in) provided by investing activities				(432)			(548)			(205)	(1,027)	(875)	(409)	(1,990)		(786)		(1,806)	(1,454)
Cash flows from financing activities:
Proceeds from sale of common stock, net of issuance costs											0			0
Proceeds from long-term debt														0		0		0	0
Payments on long-term debt				0			0			0	0	0	0	0		0		0	0
Proceeds from line of credit				0			0			0	0	0	0	0		0		0	0
Payments on line of credit							0			0	0	0	0	0		0		0	0
Payments for debt issuance costs							0			0		0	0	0		0		0	0
Proceeds from sale of preferred stock, net of issuance costs														0
Taxes paid by Company for employee stock plans				0			0			0	0	0	0	0		0		0	0
Net cash provided by (used in) financing activities				0			0			0	0	0	0	0		0		0	0
Net increase in cash, cash equivalents and restricted cash				0			0			0	0	0	0	0		0		0	0
Cash, cash equivalents and restricted cash, beginning of period	$ 0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash, cash equivalents and restricted cash, end of period		0	0	0		0	0	0	0	0	0	0	0	0		0		0	0
Supplemental disclosure of non-cash investing and financing activities:
Purchases of property and equipment on trade vendor credit				0			0			0	0	0	0	0		0
Convertible Preferred Stock Paid in Kind (PIK) dividend														0
Restatement \| Before Discontinued Operations Restatement
Cash flows from operating activities:
Consolidated net loss		3,685	(357)	385	(500)	(30)	90	(1,480)	1,678	(1,410)	28
Restatement \| After Discontinued Operations Restatement
Cash flows from operating activities:
Consolidated net loss												60	268	3,713	(328)	(1,212)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Impairment of goodwill and long-lived and indefinite-lived assets															0
Depreciation, amortization of intangibles and amortization of debt costs															59
Stock-based compensation expense															0
Deferred taxes															0
Loss on Sale of Eat Smart															0
Loss on disposal of property and equipment related to restructuring, net															0
Provision (benefit) for expected credit losses															0
Net loss on disposal of property and equipment															0
Other, net															0
Changes in current assets and current liabilities:
Accounts receivable, net															0
Inventory, net															1,538
Prepaid expenses and other current assets															8
Accounts payable															27
Accrued compensation															0
Other accrued liabilities															0
Deferred revenue															0
Net cash (used in) provided by operating activities															1,304
Cash flows from investing activities:
Purchases of property and equipment															(1,304)
Proceeds from sale of investment in non-public company															0
Eat Smart sale net working capital adjustment															0
Proceeds from sales of property and equipment															0
Net cash (used in) provided by investing activities															(1,304)
Cash flows from financing activities:
Payments on long-term debt															0
Proceeds from line of credit															0
Payments on line of credit															0
Payments for debt issuance costs															0
Taxes paid by Company for employee stock plans															0
Net cash provided by (used in) financing activities															0
Net increase in cash, cash equivalents and restricted cash															0
Cash, cash equivalents and restricted cash, beginning of period							0					0			0			0
Cash, cash equivalents and restricted cash, end of period					0										0				0
Supplemental disclosure of non-cash investing and financing activities:
Purchases of property and equipment on trade vendor credit															0
As Restated
Cash flows from operating activities:
Consolidated net loss													(24,033)					(116,715)	(32,294)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Depreciation, amortization of intangibles and amortization of debt costs													9,826
Stock-based compensation expense													1,787
Deferred taxes													(7,000)
Change in investment in non-public company, fair value													11,800
Net loss on disposal of property and equipment													(34)
Non-cash restructuring and impairment of assets charges													6,005
Other, net													21
Changes in current assets and current liabilities:
Accounts receivable, net													9,661
Inventory, net													(4,833)
Prepaid expenses and other current assets													1,552
Accounts payable													10,539
Accrued compensation													(1,345)
Other accrued liabilities													4,627
Deferred revenue													292
Net cash (used in) provided by operating activities													18,865
Cash flows from investing activities:
Purchases of property and equipment													(7,816)
Proceeds from sales of property and equipment													12,885
Net cash (used in) provided by investing activities													5,069
Cash flows from financing activities:
Payments on long-term debt													(20,062)
Proceeds from line of credit													24,000
Payments on line of credit													(24,400)
Payments for debt issuance costs													(1,237)
Taxes paid by Company for employee stock plans													(297)
Net cash provided by (used in) financing activities													(21,996)
Net increase in cash, cash equivalents and restricted cash													1,938
Cash, cash equivalents and restricted cash, beginning of period								2,491		360			360			360			360
Cash, cash equivalents and restricted cash, end of period									2,491				2,491
Supplemental disclosure of non-cash investing and financing activities:
Purchases of property and equipment on trade vendor credit													1,526
Convertible Preferred Stock Paid in Kind (PIK) dividend		(428)
As Restated \| Before Discontinued Operations Restatement
Cash flows from operating activities:
Consolidated net loss		$ (36,507)	$ (12,806)	(10,966)	$ (13,586)	$ (38,471)	$ (9,387)	$ (6,978)	$ (11,623)	(12,410)	(23,772)
Cash flows from financing activities:
Cash, cash equivalents and restricted cash, beginning of period										$ 553			553			553			553
As Restated \| After Discontinued Operations Restatement
Cash flows from operating activities:
Consolidated net loss												$ (47,858)	$ (24,033)	(60,279)	(61,444)	$ (31,011)
BreatheWay
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Gain (loss) on disposition of business				(2,108)							(2,108)			(2,108)			(2,108)	0	0
Cash flows from investing activities:
Proceeds from divestiture of businesses				3,135							3,135			3,135			3,135	0	0
BreatheWay \| After Discontinued Operations Restatement
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Gain (loss) on disposition of business														(2,108)
BreatheWay \| As Reported
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Gain (loss) on disposition of business				(2,108)							(2,108)			(2,108)
Cash flows from investing activities:
Proceeds from divestiture of businesses				3,135							3,135			3,135
BreatheWay \| As Reported \| After Discontinued Operations Restatement
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Gain (loss) on disposition of business														(2,108)
BreatheWay \| Restatement
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Gain (loss) on disposition of business				0										0
Cash flows from investing activities:
Proceeds from divestiture of businesses				0							0			0
BreatheWay \| Restatement \| Before Discontinued Operations Restatement
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Gain (loss) on disposition of business				(2,108)							(2,108)
BreatheWay \| Restatement \| After Discontinued Operations Restatement
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Gain (loss) on disposition of business														0
BreatheWay \| As Restated \| Before Discontinued Operations Restatement
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Gain (loss) on disposition of business				$ (2,108)							$ (2,108)
BreatheWay \| As Restated \| After Discontinued Operations Restatement
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Gain (loss) on disposition of business														(2,108)
Eat Smart
Cash flows from investing activities:
Proceeds from divestiture of businesses															73,500		0	73,500	0
Eat Smart \| As Reported
Cash flows from investing activities:
Proceeds from divestiture of businesses																		73,500
Eat Smart \| As Reported \| After Discontinued Operations Restatement
Cash flows from investing activities:
Proceeds from divestiture of businesses															73,500
Eat Smart \| Restatement
Cash flows from investing activities:
Proceeds from divestiture of businesses																		0
Eat Smart \| Restatement \| After Discontinued Operations Restatement
Cash flows from investing activities:
Proceeds from divestiture of businesses															$ 0
Yucatan Foods
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Gain (loss) on disposition of business																	20,663	0	0
Loss on Sale of Eat Smart														20,663
Cash flows from investing activities:
Proceeds from divestiture of businesses																	$ 11,803	$ 0	$ 0
Yucatan Foods \| After Discontinued Operations Restatement
Cash flows from investing activities:
Proceeds from divestiture of businesses														12,531
Yucatan Foods \| As Reported
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Loss on Sale of Eat Smart														21,039
Cash flows from investing activities:
Proceeds from divestiture of businesses														12,531
Yucatan Foods \| Restatement
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Loss on Sale of Eat Smart														(376)
Cash flows from investing activities:
Proceeds from divestiture of businesses														$ 0

Income Taxes

12 Months Ended

May 28, 2023

Income Tax Disclosure [Abstract]

Income Taxes

The (benefit) provision for income taxes from continuing operations consisted of the following:


(in thousands)	Year Ended
	May 28, 2023		May 29, 2022		May 30, 2021
			As Restated		As Restated
Current:
Federal	$	(1)	$	—	$	(38)
State	55		23		74
Foreign	—		356		56
Total	54		379		92

Deferred:
Federal	234		(4,936)		(5,983)
State	20		(654)		(459)
Total	254		(5,590)		(6,442)
Income tax provision (benefit)	$	308	$	(5,211)	$	(6,350)

The actual (benefit) provision for income taxes from continuing operations differs from the statutory U.S. federal income tax rate as follows:


(in thousands)	Year Ended
	May 28, 2023		May 29, 2022		May 30, 2021
			As Restated		As Restated
Tax at U.S. statutory rate (1)	$	(13,932)	$	(4,344)	$	(6,256)
State income taxes, net of federal benefit	(1,805)		(638)		(830)

Change in valuation allowance	19,461		(1,065)		2,597
Tax credit carryforwards	(611)		(436)		(606)
Other compensation-related activity	283		234		249
Impairment of goodwill	—		2,347		—
Foreign rate differential	(2,749)		(496)		(1,414)
Other	(339)		(813)		(90)
Income tax provision (benefit)	$	308	$	(5,211)	$	(6,350)

(1) Statutory rate was 21.0% for fiscal year 2023, 2022 and 2021.

The effective tax rate for fiscal year 2023 changed from a tax benefit of 25.19% to a tax provision of 0.48% in comparison to fiscal year 2022 after adjustment for discontinued operations. The decrease in the effective tax rate for fiscal year 2023 was primarily due to a significant valuation allowance increase and the impairment of Yucatan goodwill. The income tax (provision) benefit from discontinued operations for fiscal years 2023, 2022, and 2021 of $0.0 million, $0.7 million, and $1.4 million are not included in the above income tax benefit from continuing operations.

The effective tax rate for fiscal year 2022 changed from a tax provision benefit of 21.32% to a tax provision benefit of 25.19% in comparison to fiscal year 2021 after adjustment for discontinued operations. The increase in the income tax benefit for fiscal year 2022 was primarily due to significant decrease in the Company’s loss before tax from continuing operations, and the decrease in change in valuation allowance which offsets the impairment of Yucatan goodwill.

Significant components of deferred tax assets and liabilities reported in the accompanying Consolidated Balance Sheets consisted of the following:


(in thousands)	Year Ended
	May 28, 2023		May 29, 2022
			As Restated
Deferred tax assets:
Accruals and reserves	$	1,798	$	1,753
Net operating loss carryforwards	44,618		28,957
Stock-based compensation	984		880
Research and AMT credit carryforwards	6,269		5,611
Lease liability	1,843		2,874
Limitations on business interest expense	8,614		3,504
Goodwill and other indefinite life intangibles	—		2,745
Other	434		752
Gross deferred tax assets	64,560		47,076

Valuation allowance	(52,510)		(36,531)
Net deferred tax assets	12,050		10,545

Deferred tax liabilities:
Depreciation and amortization	(10,526)		(8,594)
Goodwill and other indefinite life intangibles	(877)		—

Right of use asset	(1,027)		(2,077)
Deferred tax liabilities	(12,430)		(10,671)

Net deferred tax liabilities	$	(380)	$	(126)

The effective tax rates for fiscal years 2023 and 2022 differ from the blended statutory federal income tax rate of 21% as a result of several factors, including the change in valuation allowance related with federal, state and foreign deferred balances, foreign rate differential, change in ending state deferred blended rate, impairment of goodwill and intangibles, and the benefit of federal and state research and development credits.

As of May 28, 2023, the Company had federal, California, Indiana, and other state net operating loss carryforwards of approximately $171.8 million, $70.7 million, $33.7 million, and $33.1 million respectively. These losses expire in different periods through 2032, if not utilized. The Company acquired additional net operating losses through the acquisition of Greenline. Utilization of these acquired net operating losses in a specific year is limited due to the “change in ownership” provision of the Internal Revenue Code of 1986 and similar state provisions. The net operating losses presented above for federal and state purposes is net of any such limitation.

As of May 28, 2023, the Company has federal, California, and Minnesota research and development tax credit carryforwards of approximately $3.3 million, $2.2 million, and $1.7 million, respectively. The research and development tax credit carryforwards have an unlimited carryforward period for California purposes, 20-year carryforward for federal purposes, and 15-year carryforward for Minnesota purposes.

Valuation allowances are reviewed each period on a tax jurisdiction by jurisdiction basis to analyze whether there is sufficient positive or negative evidence to support a change in judgment about the realizability of the related deferred tax assets. Based on this analysis and considering all positive and negative evidence, we determined that as of May 28, 2023, a valuation allowance of federal $41.1 million, and state $11.7 million should be recorded as a result of uncertainty around the utilization of federal and state net operating losses, and federal capital loss carryforward.

The accounting for uncertainty in income taxes recognized in an enterprise’s financial statements prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken

or expected to be taken in a tax return, and the derecognition of tax benefits, classification on the balance sheet, interest and penalties, accounting in interim periods, disclosure, and transition.

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:


(in thousands)	Year Ended
	May 28, 2023		May 29, 2022		May 30, 2021
			As Restated		As Restated
Unrecognized tax benefits – beginning of the period	$	1,041	$	958	$	836
Gross increases – prior-period tax positions	16		—		—

Gross increases – current-period tax positions	116		83		122


Unrecognized tax benefits – end of the period	$	1,173	$	1,041	$	958

As of May 28, 2023, the total amount of net unrecognized tax benefits is $1.2 million, of which, $1.0 million, if recognized, would affect the effective tax rate. The Company accrues interest and penalties related to unrecognized tax benefits in its provision for income taxes. The total amount of penalties and interest is not material as of May 28, 2023. The Company does not expect its unrecognized tax benefits to decrease within the next twelve months.

Due to tax attribute carryforwards, the Company is subject to examination for tax years 2013 forward for U.S. tax purposes. The Company was also subject to examination in various state jurisdictions for tax years 2012 forward, none of which were individually material.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

Convertible Preferred Stock (Details) $ / shares in Units, $ in Thousands		3 Months Ended		9 Months Ended	12 Months Ended
	Jan. 09, 2023 USD ($) d $ / shares shares	May 28, 2023 USD ($) $ / shares shares	Feb. 26, 2023 USD ($) shares	Feb. 26, 2023 USD ($) shares	May 28, 2023 USD ($) $ / shares shares	May 29, 2022 USD ($) $ / shares shares	May 30, 2021 USD ($) shares	Mar. 18, 2024 USD ($)	Nov. 27, 2022 USD ($) shares	Aug. 28, 2022 USD ($) shares	Feb. 27, 2022 USD ($) shares	Nov. 28, 2021 USD ($) shares	Aug. 29, 2021 USD ($) shares	Feb. 28, 2021 USD ($) shares	Nov. 29, 2020 USD ($) shares	Aug. 30, 2020 USD ($) shares	May 31, 2020 USD ($) shares
Class of Stock [Line Items]
Proceeds of Convertible Preferred Stock, net of issuance costs (in shares) \| shares			39,000		39,000
Temporary equity par value (usd per share) \| $ / shares		$ 0.001			$ 0.001	$ 0.00
Registration Rights Agreement penalty		$ 500			$ 500
Proceeds from sale of preferred stock, net of issuance costs				$ 38,082	38,082	$ 0	$ 0
Proceeds of Convertible Preferred Stock, net of issuance costs			$ 38,082		38,082
Convertible Preferred Stock Paid In Kind Dividend				428	1,163	0	0
Convertible preferred stock		$ 39,318	$ 38,535	$ 38,535	$ 39,318	$ 0	$ 0		$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0
Temporary equity, shares outstanding (in shares) \| shares		39,000	39,000	39,000	39,000	0	0		0	0	0	0	0	0	0	0	0
Subsequent Event
Class of Stock [Line Items]
Registration Rights Agreement penalty								$ 2,000
Additional Paid-in Capital
Class of Stock [Line Items]
Convertible Preferred Stock Paid In Kind Dividend			$ 428		$ 1,163
Series A Preferred Stock
Class of Stock [Line Items]
Proceeds of Convertible Preferred Stock, net of issuance costs (in shares) \| shares	38,750
Temporary equity par value (usd per share) \| $ / shares	$ 0.001
Payments of stock issuance costs	$ 700	$ 700
Dividend percentage rate	7.50%
Contingent Interest	1.00%
Liquidation preference per share (usd per share) \| $ / shares	$ 7.00
Exchange limit	19.99%
Conversion limit	9.99%
Mandatory conversion right, threshold trading days \| d	20
Mandatory conversion right minimum	150.00%
Proceeds from sale of preferred stock, net of issuance costs	$ 38,800	38,800
Proceeds of Convertible Preferred Stock, net of issuance costs		38,100
Convertible Preferred Stock Paid In Kind Dividend					1,200
Accretion of discount					100
Convertible preferred stock		$ 39,300			$ 39,300
Temporary equity, shares outstanding (in shares) \| shares		39,000			39,000
Series A Preferred Stock \| Additional Paid-in Capital
Class of Stock [Line Items]
Convertible Preferred Stock Paid In Kind Dividend					$ (1,200)

Stock-based Compensation and Stockholders’ Equity - Narrative (Details) - USD ($)		12 Months Ended
	Oct. 16, 2019	May 28, 2023	May 29, 2022	May 30, 2021	May 31, 2020	Oct. 10, 2013	Jul. 14, 2010
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options to purchase restricted stock units outstanding (in shares)		2,374,325	1,947,686	1,834,017	1,716,358
Number of shares available for award under stock incentive plan (in shares)		4,200,000
Preferred stock authorized (in shares)		2,000,000.0
Preferred stock outstanding (in shares)		38,750	0
Amount of unrecognized compensation expense related to unvested equity compensation		$ 4,200,000
Maximum repurchase amount of common stock							$ 10,000,000.0
Stock repurchased during period (in shares)		0	0	0
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total expense expected to be recognized over the weighted-average period		1 year 9 months 18 days
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options to purchase restricted stock units outstanding (in shares)		2,302,740
Total expense expected to be recognized over the weighted-average period		1 year 4 months 9 days
Stock Incentive Plan 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock initially available under stock award plan (in shares)	2,000,000.0
Stock Incentive Plan 2019 \| Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum amount of award within a fiscal year (in shares)	500,000
Stock Incentive Plan 2019 \| Stock Grants and Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum amount of award within a fiscal year (in shares)	250,000
Stock Incentive Plan 2019 \| Stock Appreciation Rights (SARs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum amount of award within a fiscal year (in shares)	500,000
Maximum award for a non-employee direct within a fiscal year	$ 120,000
Stock Incentive Plan 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock initially available under stock award plan (in shares)						2,000,000.0
Amount of shares and RSUs outstanding to be purchased (in shares)		408,375

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	May 28, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Discontinued Operations - Components of Loss from Discontinued Operations (Details) - USD ($) $ in Thousands	3 Months Ended											6 Months Ended	12 Months Ended
	May 28, 2023	Feb. 26, 2023	Nov. 27, 2022	Aug. 28, 2022	May 29, 2022	Feb. 27, 2022	Nov. 28, 2021	Aug. 29, 2021	Feb. 28, 2021	Nov. 29, 2020	Aug. 30, 2020	Nov. 27, 2022	May 28, 2023	May 29, 2022	May 30, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss from discontinued operations		$ (25,177)	$ (3,605)	$ (4,259)		$ (6,552)	$ (42,591)	$ (1,196)	$ (4,304)	$ (4,037)	$ (3,239)	$ (7,864)	$ (35,327)	$ (101,929)	$ (10,289)
Income tax benefit						3,886	(3,427)	282	(923)	804	819		0	690	1,432
Loss from discontinued operations	$ (2,286)	$ (25,177)	$ (3,605)	$ (4,259)	$ (51,641)	$ (2,666)	$ (46,018)	$ (914)	$ (5,227)	$ (3,233)	$ (2,420)	$ (7,864)	(35,327)	(101,239)	(8,857)
O Olive, Yucatan and Eat Smart \| Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Product sales													49,988	261,311	443,779
Cost of product sales													51,175	248,670	401,775
Gross profit													(1,187)	12,641	42,004
Research and development													220	2,441	3,538
Selling, general and administrative													10,143	24,423	38,100
Impairment of goodwill and long-lived and indefinite-lived assets													1,300	78,146	0
Legal settlement charge													407	0	1,763
Restructuring costs													1,255	6,542	3,935
Total operating costs and expenses													34,307	111,888	47,336
Operating loss													(35,494)	(99,247)	(5,332)
Dividend income													0	0	0
Interest expenses													0	(2,682)	(4,957)
Other expense, net													167	0	0
Loss from discontinued operations													(35,327)	(101,929)	(10,289)
Income tax benefit													0	690	1,432
Loss from discontinued operations													(35,327)	(101,239)	(8,857)
Eat Smart \| Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on sale of business													0	336	0
Yucatan Foods \| Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on sale of business													20,663	0	0
O Olive \| Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on sale of business													319	0	0
BreatheWay \| Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on sale of business													$ 0	$ 0	$ 0

Correction of Errors in Previously Reported Fiscal Year 2022 and 2021 Annual Financial Statements (Tables)

12 Months Ended

May 28, 2023

Accounting Changes and Error Corrections [Abstract]

Schedule of Error Corrections

The effects of the restatement on the consolidated balance sheet as of May 29, 2022 are summarized in the following table:


	May 29, 2022
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
ASSETS
Current Assets:
Cash and cash equivalents	$	1,643	$	—	$	1,643	$	(652)	$	991
Accounts receivable, net	48,172		(522)		47,650		(9,336)		38,314
Inventories	66,845		(4,833)		62,012		(26,012)		36,000
Prepaid expenses and other current assets	7,052		(1,689)		5,363		(3,310)		2,053
Current Assets, discontinued operations	—		—		—		39,310		39,310
Total Current Assets	123,712		(7,044)		116,668		—		116,668

Property and equipment, net	118,531		4,035		122,566		(3,896)		118,670
Operating lease right-of-use assets	8,580		(94)		8,486		(2,933)		5,553
Goodwill	13,881		—		13,881		—		13,881
Trademarks/tradenames, net	8,700		—		8,700		(4,500)		4,200
Customer relationships, net	1,400		—		1,400		(1,400)		—
Other assets	3,002		—		3,002		(113)		2,889
Non-current Assets, discontinued operations	—		—		—		12,842		12,842
Total Assets	$	277,806	$	(3,103)	$	274,703	$	—	$	274,703

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities:
Accounts payable	$	15,802	$	—	$	15,802	$	(2,850)	$	12,952
Accrued compensation	9,238		—		9,238		(297)		8,941
Other accrued liabilities	7,647		(229)		7,418		(939)		6,479
Current portion of lease liabilities	5,026		—		5,026		(658)		4,368
Deferred revenue	919		—		919		—		919
Line of credit	40,000		—		40,000		—		40,000
Current portion of long-term debt, net	98,178		—		98,178		—		98,178
Current liabilities, discontinued operations	—		—		—		4,744		4,744
Total Current Liabilities	176,810		(229)		176,581		—		176,581

Long-term lease liabilities	9,983		—		9,983		(2,325)		7,658
Deferred taxes, net	126		—		126		—		126
Other non-current liabilities	190		—		190		—		190
Non-current liabilities, discontinued operations	—		—		—		2,325		2,325
Total Liabilities	187,109		(229)		186,880		—		186,880

Stockholders’ Equity:
Common stock, $0.001 par value; 50,000 shares authorized	30		—		30		—		30
Additional paid-in capital	167,352		—		167,352		—		167,352
Accumulated deficit	(76,099)		(2,874)		(78,973)		—		(78,973)
Accumulated other comprehensive loss	(586)		—		(586)		—		(586)
Total Stockholders’ Equity	90,697		(2,874)		87,823		—		87,823
Total Liabilities and Stockholders’ Equity	$	277,806	$	(3,103)	$	274,703	$	—	$	274,703

The effects of the restatement on the consolidated statement of operations and comprehensive income (loss) for the year ended May 29, 2022 are summarized in the following table:


	Year ended May 29, 2022
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Product sales	$	185,786	$	40	$	185,826	$	(74,556)	$	111,270
Cost of product sales	135,416		3,903		139,319		(67,115)		72,204
Gross profit	50,370		(3,863)		46,507		(7,441)		39,066
Operating costs and expenses:
Research and development	7,841		521		8,362		(523)		7,839
Selling, general and administrative	46,127		(395)		45,732		(11,073)		34,659
Impairment of goodwill and long-lived and indefinite-lived assets	46,089		—		46,089		(46,089)		—
Restructuring costs	8,961		(602)		8,359		—		8,359
Total operating costs and expenses	109,018		(476)		108,542		(57,685)		50,857
Operating (loss) income	(58,648)		(3,387)		(62,035)		50,244		(11,791)


Interest income	81		—		81		—		81
Interest expense	(17,357)		1,806		(15,551)		—		(15,551)
Transition services income	5,814		—		5,814		—		5,814
Other expense	641		119		760		—		760
Net (loss) income from continuing operations before taxes	(69,469)		(1,462)		(70,931)		50,244		(20,687)
Income tax benefit (provision)	5,945		(287)		5,658		(447)		5,211
Net (loss) income from continuing operations	(63,524)		(1,749)		(65,273)		49,797		(15,476)

Discontinued operations:
Loss from discontinued operations	(51,276)		(409)		(51,685)		(50,244)		(101,929)
Income tax benefit	121		122		243		447		690
Loss from discontinued operations, net of tax	(51,155)		(287)		(51,442)		(49,797)		(101,239)
Net loss	(114,679)		(2,036)		(116,715)		—		(116,715)

Basic net (loss) income per share:
Loss from continuing operations	$	(2.16)	$	(0.06)	$	(2.22)	$	1.69	$	(0.53)
Loss from discontinued operations	$	(1.74)	$	(0.01)	$	(1.75)	$	(1.69)	$	(3.44)
Total basic loss income per share	$	(3.90)	$	(0.07)	$	(3.97)	$	—	$	(3.97)

Diluted net loss per share:
Loss from continuing operations	$	(2.16)	$	(0.06)	$	(2.22)	$	1.69	$	(0.53)
Loss from discontinued operations	$	(1.74)	$	(0.01)	$	(1.75)	$	(1.69)	$	(3.44)
Total diluted net loss per share	$	(3.90)	$	(0.07)	$	(3.97)	$	—	$	(3.97)

Shares used in per share computation
Basic	29,466		—		29,466		—		29,466
Diluted	29,466		—		29,466		—		29,466


	Year ended May 29, 2022
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Net loss applicable to common shareholders	$	(114,679)	$	(2,036)	$	(116,715)	$	—	$	(116,715)
Other comprehensive (loss) income, net of tax:
Net unrealized gains on interest rate swaps (net of tax effect of $(430)	$	772	$	—	$	772	$	—	$	772
Other comprehensive (loss) income, net of tax	$	772	$	—	$	772	$	—	$	772
Total comprehensive (loss) income	$	(113,907)	$	(2,036)	$	(115,943)	$	—	$	(115,943)

The effects of the restatement on the consolidated statement of stockholders’ equity (deficit) for the year ended May 29, 2022 are summarized in the following table:


(in thousands, except per share amounts)	Common Stock			Additional Paid-in Capital		Retained Earnings (Accumulated Deficit)		Accumulated Other Comprehensive Loss		Total Stockholders’ Equity
	Shares	Amount
As Reported
Balance at May 30, 2021	29,333	$	29	$	165,533	$	38,580	$	(1,358)	$	202,784

Issuance of stock under stock plans, net of shares withheld	180	1		—		—		—		1
Taxes paid by Company for employee stock plans	—	—		(789)		—		—		(789)
Stock-based compensation	—	—		2,608		—		—		2,608
Net loss	—	—		—		(114,679)		—		(114,679)
Other comprehensive income, net of tax	—	—		—		—		772		772
Balance at May 29, 2022	29,513	$	30	$	167,352	$	(76,099)	$	(586)	$	90,697

Restatements Adjustments
Opening retained earnings	—	—		—		(838)		—		(838)
Net loss	—	—		—		(2,036)		—		(2,036)

As Restated
Balance at May 30, 2021	29,333	$	29	$	165,533	$	37,742	$	(1,358)	$	201,946

Issuance of stock under stock plans, net of shares withheld	180	1		—		—		—		1
Taxes paid by Company for employee stock plans	—	—		(789)		—		—		(789)
Stock-based compensation	—	—		2,608		—		—		2,608
Net loss	—	—		—		(116,715)		—		(116,715)
Other comprehensive income, net of tax	—	—		—		—		772		772
Balance at May 29, 2022	29,513	$	30	$	167,352	$	(78,973)	$	(586)	$	87,823

The effects of the restatement on the consolidated statement of cash flows for the year ended May 29, 2022 are summarized in the following table:


	Year Ended May 29, 2022
	As Reported		Restatement Adjustment		As Restated
Cash flows from operating activities:
Net loss	$	(114,679)	$	(2,036)	$	(116,715)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Impairment of goodwill and long-lived and indefinite-lived assets	78,146		—		78,146
Depreciation, amortization of intangibles, debt costs and right-of-use assets	17,884		177		18,061
Deferred taxes	(6,990)		165		(6,825)
Loss on disposal of property and equipment related to restructuring, net	5,185		—		5,185
Stock-based compensation expense	2,608		—		2,608
Loss on sale of Eat Smart	336		—		336
Net loss on disposal of property and equipment held and used	152		—		152
Provision for expected credit losses	(14)		—		(14)
Other, net	(426)		—		(426)
Changes in current assets and current liabilities:
Accounts receivable, net	(6,138)		—		(6,138)
Inventory	(5,960)		3,780		(2,180)
Prepaid expenses and other current assets	(602)		(87)		(689)
Accounts payable	9,343		—		9,343
Accrued compensation	(2,546)		—		(2,546)
Other accrued liabilities	(680)		(193)		(873)
Deferred revenue	(18)		—		(18)
Net cash (used in) provided by operating activities	(24,399)		1,806		(22,593)
Cash flows from investing activities:
Proceeds from the Sale of Eat Smart	73,500		—		73,500
Eat Smart sale net working capital adjustment	(9,839)		—		(9,839)
Proceeds from sale of investment in non-public company	45,100		—		45,100
Purchases of property and equipment	(28,134)		(1,806)		(29,940)
Proceeds from sales of property and equipment	1,141		—		1,141
Net cash provided by (used in) investing activities	81,768		(1,806)		79,962
Cash flows from financing activities:
Proceeds from long-term debt	20,000		—		20,000
Payments on long-term debt	(86,411)		—		(86,411)
Proceeds from line of credit	55,111		—		55,111
Payments on line of credit	(44,111)		—		(44,111)
Payments for debt issuance costs	(821)		—		(821)
Taxes paid by Company for employee stock plans	(789)		—		(789)
Net cash used in financing activities	(57,021)		—		(57,021)
Net increase in cash, cash equivalents and restricted cash	348		—		348
Cash, cash equivalents and restricted cash, beginning of period	1,295		—		1,295
Cash, cash equivalents and restricted cash, end of period	$	1,643	$	—	$	1,643

The effects of this error on our previously reported fiscal year 2022 changes in the Company’s allowance for sales returns and credit losses for the year ended May 29, 2022 as presented in the Company’s fiscal year 2022 Annual Report on Form 10-K/A Note 1, are as follows:


	Year Ended May 29, 2022
(in thousands)	Balance at beginning of period		Provision (benefit) for expected credit losses	Write offs, net of recoveries	Balance at end of period
Year ended May 29, 2022, As Reported	$	85	(14)	(6)	$	65
Restatement Adjustment	$	522	—	—	$	522
Year ended May 29, 2022, As Restated	$	607	(14)	(6)	$	587
Discontinued Operations	$	(85)	14	6	$	(65)
Year ended May 29, 2022, As Restated, after Discontinued Operations	$	522	—	—	$	522

The effects of this error on our previously reported fiscal year 2022 inventories as of May 29, 2022 as presented in the Company’s fiscal year 2022 Annual Report on Form 10-K/A Note 1, are as follows:


	May 29, 2022
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Finished goods	$	33,029	$	(3)	$	33,026	$	(19,629)	$	13,397
Raw materials	24,221		(2,393)		21,828		(6,340)		15,488
Work in progress	9,595		(2,437)		7,158		(43)		7,115
Total inventories	$	66,845	$	(4,833)	$	62,012	$	(26,012)	$	36,000

The effects of this error on our previously reported fiscal year 2022 basic and diluted net loss per share for the year ended May 29, 2022 as presented in the Company’s fiscal year 2022 Annual Report on Form 10-K/A Note 1, are as follows:


	Year ended May 29, 2022
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Numerator:
Net loss applicable to Common Stockholders	$	(114,679)	$	(2,036)	$	(116,715)	$	—	$	(116,715)

Denominator:
Weighted average shares for basic net income per share	29,466		—		29,466		—		29,466



Weighted average shares for diluted net income per share	29,466		—		29,466		—		29,466

Diluted net loss per share	$	(3.90)	$	(0.07)	$	(3.97)	$	—	$	(3.97)

The effects of this error on our previously reported fiscal year 2022 disaggregated revenue for the year ended May 29, 2022 as presented in the Company’s fiscal year 2022 Annual Report on Form 10-K/A Note 1, are as follows:


	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Contact development and manufacturing organization	$	86,313	$	40	$	86,353	$	—	$	86,353
Fermentation	23,007		—		23,007		—		23,007

Total	$	109,320	$	40	$	109,360	$	—	$	109,360

	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Avocado Products	$	65,269	$	—	$	65,269	$	(65,269)	$	—
Olive oil and vinegars	9,287		—		9,287		(9,287)		—
Technology	1,910		—		1,910		—		1,910
Total	$	76,466	$	—	$	76,466	$	(74,556)	$	1,910

The effects of this error on our previously reported fiscal year 2022 property and equipment, net as of May 29, 2022 as presented in the Company’s fiscal year 2022 Annual Report on Form 10-K/A Note 3, are as follows:


	May 29, 2022
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Land	$	3,710	$	—	$	3,710	$	—	$	3,710
Buildings	58,359		—		58,359		—		58,359
Leasehold improvements	5,143		—		5,143		(1,124)		4,019
Computers, capitalized software, machinery, equipment and autos	74,974		—		74,974		(4,512)		70,462
Furniture and fixtures	2,099		—		2,099		(8)		2,091
Construction in process	22,786		4,118		26,904		(12)		26,892
Gross property and equipment	167,071		4,118		171,189		(5,656)		165,533
Less accumulated depreciation and amortization	(48,540)		(83)		(48,623)		1,760		(46,863)
Net property and equipment	$	118,531	$	4,035	$	122,566	$	(3,896)	$	118,670

The effects of this error on our previously reported fiscal year 2022 income taxes as of and for the year ended May 29, 2022 as presented in the Company’s fiscal year 2022 Annual Report on Form 10-K/A Note 7, are as follows:


	For the Year Ended May 29, 2022
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Current:

State	23		—		23		—		23
Foreign	356		—		356		—		356
	379		—		379		—		379

Deferred:
Federal	$	(5,670)	$	287	$	(5,383)	$	447	$	(4,936)
State	(654)		—		(654)		—		(654)
	(6,324)		287		(6,037)		447		(5,590)
Total (provision) benefit for income taxes	(5,945)		287		(5,658)		447		(5,211)


	For the Year Ended May 29, 2022
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Tax at U.S. statutory rate	$	(14,548)	$	(288)	$	(14,836)	$	10,492	$	(4,344)
State income taxes, net of federal benefit	(2,195)		(44)		(2,239)		1,601		(638)

Change in valuation allowance	10,134		634		10,768		(11,833)		(1,065)
Tax credit carryforwards	(436)		—		(436)		—		(436)
Other compensation-related activity	234		—		234		—		234
Impairment of goodwill	2,347		—		2,347		—		2,347
Foreign rate differential	(496)		—		(496)		—		(496)
Other	(985)		(15)		(1,000)		187		(813)
Income tax (expense) benefit	$	(5,945)	$	287	$	(5,658)	$	447	$	(5,211)


	As of May 29, 2022
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Deferred tax assets:
Accruals and reserves	$	867	$	886	$	1,753	$	—	$	1,753
Net operating loss carryforwards	28,558		399		28,957		—		28,957
Stock-based compensation	880		—		880		—		880
Research and AMT credit carryforwards	5,611		—		5,611		—		5,611
Lease Liability	2,874		—		2,874		—		2,874
Limitations on business interest expense	4,245		(741)		3,504		—		3,504
Goodwill and other indefinite life intangibles	2,745		—		2,745		—		2,745
Other	750		2		752		—		752
Gross deferred tax assets	46,530		546		47,076		—		47,076
Valuation Allowance	(35,942)		(589)		(36,531)		—		(36,531)
Net deferred tax assets	10,588		(43)		10,545		—		10,545

Deferred tax liabilities:
Depreciation and amortization	(8,614)		20		(8,594)		—		(8,594)


Right of use asset	(2,100)		23		(2,077)		—		(2,077)
Deferred tax liabilities	(10,714)		43		(10,671)		—		(10,671)

Net deferred tax liabilities	$	(126)	$	—	$	(126)	$	—	$	(126)


	As of May 29, 2022
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Unrecognized tax benefits – beginning of the period	$	942	$	16	$	958	$	—	$	958


Gross increases – current-period tax positions	83		—		83		—		83

Unrecognized tax benefits – end of the period	$	1,025	$	16	$	1,041	$	—	$	1,041

The effects of this error on our previously reported fiscal year 2022 segment reporting for the year ended May 29, 2022 as presented in the Company’s fiscal year 2022 Annual Report on Form 10-K/A Note 10, are as follows.

The segment table below has been restated to reflect the correction of accounting errors within the consolidated financial statements for the period ending year ended May 29, 2022. Refer to Note 13 for the related income statement line items reported in the segment table of the Company after giving effect to the discontinued operations previously reported under the Curation segment. The Company disclosed Other to reconcile the segment information to the consolidated financial statements.


	For the Year Ended May 29, 2022
(in thousands)	Lifecore		Curation Foods		Other		Total
Year Ended May 29, 2022, As Reported
Net sales	$	109,320	$	76,466	$	—	$	185,786
Gross profit	43,746		6,624		—		50,370
Net income (loss) from continuing operations	16,675		(47,783)		(32,416)		(63,524)
Loss from discontinued operations, net of tax	—		(48,114)		(3,041)		(51,155)
Total assets	213,969		59,594		4,243		277,806
Depreciation and amortization	6,673		4,004		80		10,757
Capital expenditures	23,552		2,674		—		26,226
Interest income	72		—		9		81
Interest expense	—		299		17,058		17,357
Income tax (benefit) expense, continuing operations	5,266		(13,831)		2,620		(5,945)
Corporate overhead allocation	4,484		1,092		(5,576)		—

Restatement Adjustments
Net sales	40		—		—		40
Gross profit	(3,863)		—		—		(3,863)
Net (loss) income from continuing operations	(39)		(8,411)		6,701		(1,749)
Loss from discontinued operations, net of tax	—		(287)		—		(287)
Total assets	(1,320)		(1,783)		—		(3,103)
Depreciation and amortization	83		—		—		83
Interest expense	—		—		(1,806)		(1,806)
Income tax (benefit) expense, continuing operations	(3,824)		8,960		(4,849)		287







Year Ended May 29, 2022, As Restated
Net sales	$	109,360	$	76,466	$	—	$	185,826
Gross profit	39,883		6,624		—		46,507
Net income (loss) from continuing operations	16,636		(56,194)		(25,715)		(65,273)
Loss from discontinued operations, net of tax	—		(48,401)		(3,041)		(51,442)
Total assets	212,649		57,811		4,243		274,703
Depreciation and amortization	6,756		4,004		80		10,840
Capital expenditures	23,552		2,674		—		26,226
Interest income	72		—		9		81
Interest expense	—		299		15,252		15,551
Income tax (benefit) expense, continuing operations	1,442		(4,871)		(2,229)		(5,658)
Corporate overhead allocation	4,484		1,092		(5,576)		—

The effects of this error on our previously reported fiscal year 2021 discontinued operations as of and for the year ended May 30, 2021 as presented in the Company’s fiscal year 2022 Annual Report on Form 10-K/A Note 12, are as follows:


	Eat Smart - As of May 30, 2021
(in thousands)	As Reported		Restatement		As Restated
ASSETS
Cash and cash equivalents	$	136	$	—	$	136
Accounts receivable, less allowance for credit losses	28,583		—		28,583
Inventories	6,587		—		6,587
Prepaid expenses and other current assets	2,312		(515)		1,797
Total current assets, discontinued operations	37,618		(515)		37,103

Investment in non-public company, fair value	45,100		(45,100)		—
Property and equipment, net	59,273		—		59,273
Operating lease right-of-use assets	3,729		—		3,729
Goodwill	35,470		—		35,470
Trademarks/tradenames, net	8,228		—		8,228
Customer relationships, net	2,260		—		2,260
Other assets	80		—		80
Total other assets, discontinued operations	154,140		(45,100)		109,040
Total assets, discontinued operations	$	191,758	$	(45,615)	$	146,143

LIABILITIES
Accounts payable	31,271		—		31,271
Accrued compensation	4,550		—		4,550
Other accrued liabilities	4,041		350		4,391
Current portion of lease liabilities	2,289		—		2,289
Deferred revenue	493		(350)		143
Total current liabilities, discontinued operations	42,644		—		42,644

Long-term lease liabilities	3,252		—		3,252
Other non-current liabilities	729		—		729
Non-current liabilities, discontinued operations	3,981		—		3,981
Total liabilities, discontinued operations	$	46,625	$	—	$	46,625

The effects of this error on our previously reported fiscal year 2022 restructuring cost for the year ended May 29, 2022 as presented in the Company’s fiscal year 2022 Annual Report on Form 10-K/A Note 13, are as follows:


	May 29, 2022
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Asset write-off costs	$	3,693	$	(566)	$	3,127	$	—	$	3,127
Employee severance and benefit costs	371		34		405		—		405
Lease costs	2,072		—		2,072		—		2,072
Other restructuring costs	2,825		(70)		2,755		—		2,755
Total restructuring costs	$	8,961	$	(602)	$	8,359	$	—	$	8,359


	May 29, 2022
	Curation		Other		Total
Total restructuring costs, As reported	6,425		2,536		8,961
Restatement adjustments	(602)		—		(602)
Total restructuring costs, As restated	$	5,823	$	2,536	$	8,359

As of and for the year ended May 30, 2021

The effects of the restatement on the consolidated balance sheet as of May 30, 2021 are summarized in the following table:


	May 30, 2021
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
ASSETS
Current Assets:
Cash and cash equivalents	$	1,159	$	—	$	1,159	$	(396)	$	763
Accounts receivable, net	41,430		(522)		40,908		(9,317)		31,591
Inventories	63,076		(1,053)		62,023		(28,093)		33,930
Prepaid expenses and other current assets	5,038		(930)		4,108		(2,606)		1,502
Current assets, discontinued operations	37,618		(515)		37,103		40,412		77,515
Total Current Assets	148,321		(3,020)		145,301		—		145,301

Investment in non-public company, fair value	—		44,769		44,769		—		44,769
Property and equipment, net	120,286		2,312		122,598		(15,467)		107,131
Operating lease right-of-use assets	17,098		—		17,098		(3,562)		13,536
Goodwill	33,916		—		33,916		(20,035)		13,881
Trademarks/tradenames, net	17,100		—		17,100		(12,900)		4,200
Customer relationships, net	8,532		—		8,532		(8,250)		282
Other assets	3,531		—		3,531		(113)		3,418
Non-current assets, discontinued operations	154,140		(45,100)		109,040		60,327		169,367
Total Assets	$	502,924	$	(1,039)	$	501,885	$	—	$	501,885

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities:
Accounts payable	$	16,298	$	—	$	16,298	$	(4,676)	$	11,622
Accrued compensation	7,754		—		7,754		(254)		7,500
Other accrued liabilities	3,955		314		4,269		(1,260)		3,009
Current portion of lease liabilities	1,600		—		1,600		(623)		977
Deferred revenue	637		(350)		287		—		287
Line of credit	29,000		—		29,000		—		29,000

Current liabilities, discontinued operations	42,644		—		42,644		6,813		49,457
Total Current Liabilities	101,888		(36)		101,852		—		101,852

Long-term debt, net	164,902		—		164,902		—		164,902
Long-term lease liabilities	20,359		—		20,359		(2,984)		17,375
Deferred taxes, net	6,140		(165)		5,975		—		5,975
Other non-current liabilities	2,870		—		2,870		—		2,870
Non-current liabilities, discontinued operations	3,981		—		3,981		2,984		6,965
Total Liabilities	300,140		(201)		299,939		—		299,939

Stockholders’ Equity:
Common stock, $0.001 par value; 50,000 shares authorized	29		—		29		—		29
Additional paid-in capital	165,533		—		165,533		—		165,533
Retained earnings (Accumulated deficit)	38,580		(838)		37,742		—		37,742
Accumulated other comprehensive loss	(1,358)		—		(1,358)		—		(1,358)
Total Stockholders’ Equity	202,784		(838)		201,946		—		201,946
Total Liabilities and Stockholders’ Equity	$	502,924	$	(1,039)	$	501,885	$	—	$	501,885

The effects of the restatement on the consolidated statement of operations and comprehensive income (loss) for the year ended May 30, 2021 are summarized in the following table:


	For the year ended May 30, 2021
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Product sales	$	171,546	$	492	$	172,038	$	(71,164)	$	100,874
Cost of product sales	121,075		1,025		122,100		(60,163)		61,937
Gross profit	50,471		(533)		49,938		(11,001)		38,937
Operating costs and expenses:
Research and development	7,423		—		7,423		(739)		6,684
Selling, general and administrative	37,660		457		38,117		(10,396)		27,721
Legal settlement charge	1,763		(1,763)		—		—		—
Restructuring costs	3,759		9,596		13,355		—		13,355
Total operating costs and expenses	50,605		8,290		58,895		(11,135)		47,760
Operating (loss) income	(134)		(8,823)		(8,957)		134		(8,823)


Interest income	48		—		48		—		48
Interest expense	(10,387)		1,454		(8,933)		—		(8,933)
Loss on debt refinancing	(1,110)		—		(1,110)		—		(1,110)
Other income (expense), net	111		(11,080)		(10,969)		—		(10,969)
Net (loss) income from continuing operations before taxes	(11,472)		(18,449)		(29,921)		134		(29,787)
Income tax benefit (provision)	1,903		4,899		6,802		(452)		6,350
Net (loss) income from continuing operations	(9,569)		(13,550)		(23,119)		(318)		(23,437)

Discontinued operations:
Loss from discontinued operations	(28,994)		18,839		(10,155)		(134)		(10,289)
Income tax benefit (provision)	5,898		(4,918)		980		452		1,432
Loss from discontinued operations, net of tax	(23,096)		13,921		(9,175)		318		(8,857)
Net (loss) income	$	(32,665)	$	371	$	(32,294)	$	—	$	(32,294)

Basic net loss per share:
Loss from continuing operations	$	(0.33)	$	(0.46)	$	(0.79)	$	(0.01)	$	(0.80)
Loss from discontinued operations	$	(0.79)	$	0.48	$	(0.31)	$	0.01	$	(0.30)
Total basic net loss per share	$	(1.12)	$	0.02	$	(1.10)	$	—	$	(1.10)

Diluted net loss per share:
Loss from continuing operations	$	(0.33)	$	(0.46)	$	(0.79)	$	(0.01)	$	(0.80)
Loss from discontinued operations	$	(0.79)	$	0.48	$	(0.31)	$	0.01	$	(0.30)
Total diluted net loss per share	$	(1.12)	$	0.02	$	(1.10)	$	—	$	(1.10)

Shares used in per share computation
Basic	29,294		—		29,294		—		29,294
Diluted	29,294		—		29,294		—		29,294

	For the year ended May 30, 2021


(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Net loss applicable to common shareholders	$	(32,665)	$	371	$	(32,294)	$	—	$	(32,294)
Other comprehensive (loss) income, net of tax:
Net unrealized gains on interest rate swaps (net of tax effect of $(455))	$	1,450	$	—	$	1,450	$	—	$	1,450
Other comprehensive income, net of tax	$	1,450	$	—	$	1,450	$	—	$	1,450
Total comprehensive (loss) income	$	(31,215)	$	371	$	(30,844)	$	—	$	(30,844)

The effects of the restatement on the consolidated statement of stockholders’ equity (deficit) for the year ended May 30, 2021 are summarized in the following table:


	Common Stock			Additional Paid-in Capital		Retained Earnings		Accumulated Other Comprehensive Loss		Total Stockholders’ Equity
	Shares	Amount
As Reported
Balance at May 31, 2020	29,224	$	29	$	162,578	$	71,245	$	(2,808)	$	231,044
Issuance of stock under stock plans, net of shares withheld	109	—		—		—		—		—

Taxes paid by Company for employee stock plans	—	—		(405)		—		—		(405)
Stock-based compensation	—	—		3,360		—		—		3,360
Net loss	—	—		—		(32,665)		—		(32,665)
Other comprehensive income, net of tax	—	—		—		—		1,450		1,450
Balance at May 30, 2021	29,333	$	29	$	165,533	$	38,580	$	(1,358)	$	202,784

Restatements Adjustments
Opening retained earnings	—	—		—		(1,209)		—		(1,209)
Net income	—	—		—		371		—		371

As Restated
Balance at May 31, 2020	29,224	$	29	$	162,578	$	70,036	$	(2,808)	$	229,835

Issuance of stock under stock plans, net of shares withheld	109	—		—		—		—		—
Taxes paid by Company for employee stock plans	—	—		(405)		—		—		(405)
Stock-based compensation	—	—		3,360		—		—		3,360
Net loss	—	—		—		(32,294)		—		(32,294)
Other comprehensive income, net of tax	—	—		—		—		1,450		1,450
Balance at May 30, 2021	29,333	$	29	$	165,533	$	37,742	$	(1,358)	$	201,946

The effects of the restatement on the consolidated statement of cash flows for the year ended May 30, 2021 are summarized in the following table:


	Year Ended May 30, 2021
	As Reported		Restatement Adjustment		As Restated
Cash flows from operating activities:
Net loss	$	(32,665)	$	371	$	(32,294)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation, amortization of intangibles, debt costs and right-of-use assets	19,867		—		19,867
Loss on debt extinguishment	1,110		—		1,110
Stock-based compensation expense	3,360		—		3,360
Provision for expected credit losses	418		522		940
Deferred taxes	(7,893)		19		(7,874)
Change in investment in non-public company, fair value	11,800		(331)		11,469
Net loss on disposal of property and equipment	61		—		61
Loss on disposal of property and equipment related to restructuring, net	10,143		—		10,143
Other, net	(74)		—		(74)
Changes in current assets and current liabilities:
Accounts receivable, net	5,775		—		5,775
Inventory	(3,352)		533		(2,819)
Prepaid expenses and other current assets	7,941		340		8,281
Accounts payable	(5,982)		—		(5,982)
Accrued compensation	3,270		—		3,270
Other accrued liabilities	460		350		810
Deferred revenue	778		(350)		428
Net cash provided by operating activities	15,017		1,454		16,471
Cash flows from investing activities:
Purchases of property and equipment	(23,769)		(1,454)		(25,223)
Proceeds from sales of property and equipment	12,913		—		12,913
Net cash used in investing activities	(10,856)		(1,454)		(12,310)
Cash flows from financing activities:
Taxes paid by Company for employee stock plans	(405)		—		(405)
Proceeds from long-term debt	170,000		—		170,000
Payments on long-term debt	(114,130)		—		(114,130)
Proceeds from line of credit	100,000		—		100,000
Payments on line of credit	(148,400)		—		(148,400)
Payments for debt issuance costs	(10,484)		—		(10,484)
Net cash used in financing activities	(3,419)		—		(3,419)
Net increase in cash, cash equivalents and restricted cash	742		—		742
Cash, cash equivalents and restricted cash, beginning of period	$	553	$	—	$	553
Cash, cash equivalents and restricted cash, end of period	$	1,295	$	—	$	1,295

The effects of this error on our previously reported fiscal year 2021 changes in the Company’s allowance for sales returns and credit losses for the year ended May 30, 2021 as presented in the Company’s fiscal year 2021 Annual Report on Form 10-K Note 1, are as follows:


	May 30, 2021
(in thousands)	Balance at beginning of period		Provision (benefit) for expected credit losses	Write offs, net of recoveries	Balance at end of period
Year ended May 30, 2021, As Reported	$	186	187	(288)	$	85
Restatement Adjustment	$	—	522	—	$	522
Year ended May 30, 2021, As Restated	$	186	709	(288)	$	607
Discontinued Operations	$	(186)	64	37	$	(85)
Year ended May 30, 2021, As Restated, after Discontinued Operations	$	—	773	(251)	$	522

The effects of this error on our previously reported fiscal year 2021 inventories as of May 30, 2021 as presented in the Company’s fiscal year 2021 Annual Report on Form 10-K Note 1, are as follows:


	May 30, 2021
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Finished goods	$	40,204	$	3	$	40,207	$	(22,453)	$	17,754
Raw materials	16,644		(728)		15,916		(5,615)		10,301
Work in progress	6,228		(328)		5,900		(25)		5,875
Total inventories	$	63,076	$	(1,053)	$	62,023	$	(28,093)	$	33,930

The effects of this error on our previously reported fiscal year 2021 basic and diluted net loss per share for the year ended May 30, 2021 as presented in the Company’s fiscal year 2021 Annual Report on Form 10-K Note 1, are as follows:


	May 30, 2021
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Numerator:
Net (loss) income applicable to Common Stockholders	$	(32,665)	$	371	$	(32,294)	$	—	$	(32,294)

Denominator:
Weighted average shares for basic net income per share	29,294		—		29,294		—		29,294



Weighted average shares for diluted net income per share	29,294		—		29,294		—		29,294

Diluted net (loss) income per share	$	(1.12)	$	0.02	$	(1.10)	$	—	$	(1.10)

The effects of this error on our previously reported fiscal year 2021 fair value measurement as of May 30, 2021 as presented in the Company’s fiscal year 2021 Annual Report on Form 10-K Note 1, are as follows:


	Fair Value at May 30, 2021, As Reported
(in thousands)	Level 1		Level 2		Level 3
Assets:
Current assets, discontinued operations
Assets held for sale - nonrecurring	$	—	$	—	$	515
Other assets, discontinued operations
Investment in non-public company	—		—		45,100
Total assets	$	—	$	—	$	45,615

	Restatement Adjustments
Investment in non-public company	$	—	$	—	$	(331)

	Fair Value at May 30, 2021, As Restated
(in thousands)	Level 1		Level 2		Level 3
Assets:
Current assets, continuing operations (1)
Assets held for sale - nonrecurring, as restated	$	—	$	—	$	515
Other assets, continuing operations (1)
Investment in non-public company, as restated	—		—		44,769
Total assets	$	—	$	—	$	45,284

(1) The restatement adjustment also included a reclassification from discontinued operations to continuing operations.

The effects of this error on our previously reported fiscal year 2021 disaggregated revenue for the year ended May 30, 2021 as presented in the Company’s fiscal year 2021 Annual Report on Form 10-K Note 1, are as follows:


	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Contact development and manufacturing organization	$	75,297	$	492	$	75,789	$	—	$	75,789
Fermentation	22,790		—		22,790		—		22,790
Other	—		—		—		—		—
Total	$	98,087	$	492	$	98,579	$	—	$	98,579

	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Avocado Products	$	63,575	$	—	$	63,575	$	(63,575)	$	—
Olive oil and vinegars	7,589		—		7,589		(7,589)		—
Technology	2,295		—		2,295		—		2,295
Total	$	73,459	$	—	$	73,459	$	(71,164)	$	2,295

The effects of this error on our previously reported fiscal year 2021 property and equipment, net as of May 30, 2021 as presented in the Company’s fiscal year 2021 Annual Report on Form 10-K Note 4, are as follows:


	May 30, 2021
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Land	$	3,670	$	—	$	3,670	$	—	$	3,670
Buildings	47,880		—		47,880		(1,696)		46,184
Leasehold improvements	6,465		—		6,465		(2,410)		4,055
Computers, capitalized software, machinery, equipment and autos	71,832		—		71,832		(13,971)		57,861
Furniture and fixtures	2,513		—		2,513		(199)		2,314
Construction in process	31,383		2,312		33,695		(2,882)		30,813
Gross property and equipment	163,743		2,312		166,055		(21,158)		144,897
Less accumulated depreciation and amortization	(43,457)		—		(43,457)		5,691		(37,766)
Net property and equipment	$	120,286	$	2,312	$	122,598	$	(15,467)	$	107,131

The effects of this error on our previously reported fiscal year 2021 income taxes as of and for the year ended May 30, 2021 as presented in the Company’s fiscal year 2021 Annual Report on Form 10-K Note 8, are as follows:


	For the Year Ended May 30, 2021
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Current:
Federal	$	(38)	$	—	$	(38)	$	—	$	(38)
State	74		—		74		—		74
Foreign	56		—		56		—		56
	92		—		92		—		92

Deferred:
Federal	$	(1,536)	$	(4,899)	$	(6,435)	$	452	$	(5,983)
State	(459)		—		(459)		—		(459)
	(1,995)		(4,899)		(6,894)		452		(6,442)
Total provision for income taxes	(1,903)		(4,899)		(6,802)		452		(6,350)


	For the Year Ended May 30, 2021
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Tax at U.S. statutory rate	$	(2,409)	$	(4,245)	$	(6,654)	$	398	$	(6,256)
State income taxes, net of federal benefit	(304)		(580)		(884)		54		(830)

Change in valuation allowance	2,667		(70)		2,597		—		2,597
Tax credit carryforwards	(606)		—		(606)		—		(606)
Other compensation-related activity	249		—		249		—		249

Foreign rate differential	(1,414)		—		(1,414)		—		(1,414)
Other	(86)		(4)		(90)		—		(90)
Income tax expense	$	(1,903)	$	(4,899)	$	(6,802)	$	452	$	(6,350)


	As of May 30, 2021
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Deferred tax assets:
Accruals and reserves	$	3,366	$	256	$	3,622	$	—	$	3,622
Net operating loss carryforwards	21,916		167		22,083		—		22,083
Stock-based compensation	1,123		—		1,123		—		1,123
Research and AMT credit carryforwards	5,150		—		5,150		—		5,150
Lease Liability	5,902		—		5,902		—		5,902
Limitations on business interest expense	2,411		(303)		2,108		—		2,108

Other	927		13		940		—		940
Gross deferred tax assets	40,795		133		40,928		—		40,928
Valuation Allowance	(10,460)		32		(10,428)		—		(10,428)
Net deferred tax assets	30,335		165		30,500		—		30,500

Deferred tax liabilities:
Depreciation and amortization	(16,600)		—		(16,600)		—		(16,600)
Goodwill and other indefinite life intangibles	(13,406)		—		(13,406)		—		(13,406)
Basis difference in investment in non-public company	(1,382)		—		(1,382)		—		(1,382)
Right of use asset	(5,087)		—		(5,087)		—		(5,087)
Deferred tax liabilities	(36,475)		—		(36,475)		—		(36,475)

Net deferred tax liabilities	$	(6,140)	$	165	$	(5,975)	$	—	$	(5,975)


	As of May 30, 2021
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Unrecognized tax benefits – beginning of the period	$	827	$	9	$	836	$	—	$	836


Gross increases – current-period tax positions	115		7		122		—		122

Unrecognized tax benefits – end of the period	$	942	$	16	$	958	$	—	$	958

The effects of this error on our previously reported fiscal year 2021 segment reporting for the year ended May 30, 2021 as presented in the Company’s fiscal year 2021 Annual Report on Form 10-K Note 11, are as follows.

The segment table below has been restated to reflect the correction of accounting errors within the consolidated financial statements for the period ending year ended May 30, 2021. Refer to Note 13 for the related income statement line items reported in the segment table of the Company after giving effect to the discontinued operations previously reported under the Curation segment. The Company disclosed Other to reconcile the segment information to the consolidated financial statements.


	As of May 30, 2021
(in thousands)	Lifecore		Curation Foods		Other		Total
Year Ended May 30, 2021, As Reported
Net sales	$	98,087	$	73,459	$	—	$	171,546
Gross profit	38,265		12,206		—		50,471
Net income (loss) from continuing operations	14,461		(357)		(23,673)		(9,569)
Loss from discontinued operations, net of tax	—		(23,096)		—		(23,096)
Total assets	185,417		121,069		4,680		311,166
Depreciation and amortization	5,502		2,972		97		8,571
Capital expenditures	16,222		3,042		—		19,264

Interest income	—		—		48		48
Interest expense	—		(545)		(9,842)		(10,387)
Income tax (benefit) expense, continuing operations	4,568		(3,020)		(3,451)		(1,903)
Corporate overhead allocation	4,773		946		(5,719)		—

Restatement Adjustments
Net sales	492		—		—		492
Gross profit	(533)		—		—		(533)
Net (loss) income from continuing operations	(573)		(16,816)		3,839		(13,550)
Loss from discontinued operations, net of tax	—		13,921		—		13,921
Total assets	737		(1,776)		—		(1,039)
Interest expense	—		—		(1,454)		(1,454)
Income tax (benefit) expense, continuing operations	(482)		(2,032)		(2,385)		(4,899)







Year Ended May 30, 2021, As Restated
Net sales	$	98,579	$	73,459	$	—	$	172,038
Gross profit	37,732		12,206		—		49,938
Net income (loss) from continuing operations	13,888		(17,173)		(19,834)		(23,119)
Loss from discontinued operations, net of tax	—		(9,175)		—		(9,175)
Total assets	186,154		119,293		4,680		310,127
Depreciation and amortization	5,502		2,972		97		8,571
Capital expenditures	16,222		3,042		—		19,264

Interest income	—		—		48		48
Interest expense	—		(545)		(8,388)		(8,933)
Income tax (benefit) expense, continuing operations	4,086		(5,052)		(5,836)		(6,802)
Corporate overhead allocation	4,773		946		(5,719)		—

Commitments and Contingencies (Details)				3 Months Ended	12 Months Ended
Commitments and Contingencies (Details)	Nov. 16, 2023 USD ($)	Nov. 03, 2020 USD ($)	Sep. 02, 2020 USD ($)	Feb. 28, 2021 USD ($)	May 28, 2023 USD ($) attempt employee plaintiff	May 27, 2018	May 30, 2021 USD ($)	Feb. 14, 2020 company	May 28, 2017 USD ($) installment
Loss Contingencies [Line Items]
Settlement agreement, number of installments \| installment									3
Settlement agreement, number of installments paid \| installment									2
Insurance recoveries				$ 1,600,000
Number of companies provided labor \| company								2
Discrimination and Wrongful Termination and Wage and Hour Claims
Loss Contingencies [Line Items]
Settlement agreement, percentage share						50.00%
Discrimination and Wrongful Termination and Wage and Hour Claims \| Pacific Harvest
Loss Contingencies [Line Items]
Unsuccessful attempts to unionize \| attempt					3
Number of former and current employees involved in matter \| employee					100
Number of individual arbitrations \| plaintiff					100
Settlement agreement, percentage share						50.00%
Litigation repayment receivable							$ 1,200,000		$ 2,100,000
Compliance Matters
Loss Contingencies [Line Items]
Damages sought			$ 10,000,000
Recoverable amount					$ 0
Compliance Matters \| Subsequent Event
Loss Contingencies [Line Items]
Litigation settlement	$ 406,505
Compliance Matters \| Minimum
Loss Contingencies [Line Items]
Damages sought		$ 80,000,000
Santa Barbara County Superior Court, entitled Pacific Harvest, Inc., et al. v. Curation Foods, Inc., et al
Loss Contingencies [Line Items]
Loss contingency realized							$ 1,800,000
California Labor Code Case
Loss Contingencies [Line Items]
Loss contingency realized					$ 500,000

Goodwill and Intangible Assets

12 Months Ended

May 28, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Goodwill

Goodwill was $13.9 million as of both May 28, 2023 and May 29, 2022. There were no changes in goodwill during fiscal years 2023 and 2022. We have determined that Lifecore is the appropriate reporting unit for testing goodwill for impairment.

Intangible Assets

As of May 28, 2023 and May 29, 2022, the Company's intangible assets consisted of the following (in thousands):


		May 28, 2023				May 29, 2022
	Amortization Period (years)	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Customer relationships
Lifecore	12	$	3,700	$	3,700	$	3,700	$	3,700
Total customer relationships		$	3,700	$	3,700	$	3,700	$	3,700
Trademarks/tradenames
Lifecore		$	4,200	$	—	$	4,200	$	—
Total trademarks/tradenames		$	4,200	$	—	$	4,200	$	—
Total intangible assets		$	7,900	3,700		$	7,900	$	3,700

Amortization expense related to finite-lived intangible assets was $0.3 million for both fiscal year 2022 and 2021. There was no amortization expense during fiscal year 2023. As the finite-lived intangible assets are fully amortized as of May 28, 2023, there is no future amortization expense.

Stock-based Compensation and Stockholders’ Equity

12 Months Ended

May 28, 2023

Share-Based Payment Arrangement [Abstract]

Stock-based Compensation and Stockholders’ Equity

Common Stock and Stock Option Plans

On October 16, 2019, following stockholder approval at the Annual Meeting of Stockholders of the Company, the 2019 Stock Incentive Plan (the “Plan”) became effective and replaced the Company’s 2013 Stock Incentive Plan (the “2013 Plan”). Employees (including officers), consultants and directors of the Company and its subsidiaries and affiliates are eligible to participate in the Plan.

The Plan provides for the grant of stock options (both nonstatutory and incentive stock options), stock grants, stock units and stock appreciation rights. Awards under the Plan will be evidenced by an agreement with the Plan participants and 2.0 million shares of the Company’s Common Stock (“Shares”) were initially available for award under the Plan. Under the Plan, no recipient may receive awards during any fiscal year that exceeds the following amounts: (i) stock options covering in excess of 500,000 Shares in the aggregate; (ii) stock grants and stock units covering in excess of 250,000 Shares in the aggregate; or (iii) stock appreciation rights covering more than 500,000 Shares in the aggregate. In addition, awards to non-employee directors are discretionary. However, a non-employee director may not be granted awards in excess of an aggregate fair market value of $120,000 during any fiscal year. The exercise price of the options is the fair market value of the Company’s Common Stock on the date the options are granted. As of May 28, 2023, 2,302,740 options to purchase shares and restricted stock units (“RSUs”) were outstanding.

On October 10, 2013, following stockholder approval at the Annual Meeting of Stockholders of the Company, the 2013 Plan became effective and replaced the Company’s 2009 Stock Incentive Plan. Employees (including officers), consultants and directors of the Company and its subsidiaries and affiliates were eligible to participate in the 2013 Plan. The 2013 Plan provided for the grant of stock options (both nonstatutory and incentive stock options), stock grants, stock units and stock appreciation rights. Under the 2013 Plan, 2.0 million shares were initially available for awards and as of May 28, 2023, 408,375 options to purchase shares and RSUs were outstanding.

At May 28, 2023, the Company had 4.2 million common shares reserved for future issuance under the Company’s stock incentive plans.

Convertible Preferred Stock

The Company has authorized 2.0 million shares of convertible preferred stock, and as of May 28, 2023 and May 29, 2022 has 38,750 and 0 shares, respectively, of convertible preferred stock outstanding.

Grant Date Fair Value

The Company uses the Black-Scholes option pricing model to calculate the grant date fair value of stock option awards. The use of an option pricing model requires the Company to make estimates and assumptions, including the expected stock price volatility, expected life of option awards, risk-free interest rate, and expected dividend yield which have a significant impact on the fair value estimates. As of May 28, 2023, May 29, 2022 and May 30, 2021, the fair value of stock option grants were estimated using the following weighted average assumptions:


	Year Ended
	May 28, 2023		May 29, 2022		May 30, 2021


Weighted-average grant date fair value	$3.38		$2.62		$2.37
Assumptions:
Expected life (in years)	3.50		2.80		3.36
Risk-free interest rate	3.14	%	0.45	%	0.23	%
Volatility	39	%	33	%	33	%
Dividend yield	—	%	—	%	—	%

Stock-Based Compensation Activity

A summary of the activity under the Company’s stock option plans as of May 28, 2023 and changes during the fiscal year then ended is presented below:


	Options Outstanding	Weighted-Average Exercise Price Per Share		Total Intrinsic Value of Options Exercised		Weighted-Average Remaining Contractual Term in Years	Aggregate Intrinsic Value
Options outstanding at May 31, 2020	1,716,358	$	12.15
Options granted	682,600	$	9.66

Options forfeited	(127,714)	$	9.93
Options expired	(437,227)	$	13.42
Options outstanding at May 30, 2021	1,834,017	$	11.07
Options granted	803,000	$	11.79
Options exercised	(161,415)	$	9.69	$	304,211
Options forfeited	(205,746)	$	10.96
Options expired	(322,170)	$	13.31
Options outstanding at May 29, 2022	1,947,686	$	11.13
Options granted	743,050	$	10.51
Options exercised	(15,474)	$	9.57	$	12,069
Options forfeited	(61,900)	$	10.69
Options expired	(239,037)	$	12.08
Options outstanding at May 28, 2023	2,374,325	$	10.88			3.94	$	—
Options exercisable at May 28, 2023	1,470,091	$	11.01			2.64	$	—

A summary of the Company’s restricted stock unit award activity as of May 28, 2023 and changes during the fiscal year then ended is presented below:


	Restricted Stock Units Outstanding	Weighted-Average Grant Date Fair Value Per Share
Restricted stock units/awards outstanding at May 31, 2020	469,548	$	11.24
Granted	188,225	$	10.13
Vested	(146,197)	$	11.69
Forfeited	(31,180)	$	10.60
Restricted stock units/awards outstanding at May 30, 2021	480,396	$	10.71
Granted	105,858	$	11.98
Vested	(228,568)	$	11.41
Forfeited	(63,087)	$	10.70
Restricted stock units/awards outstanding at May 29, 2022	294,599	$	10.55
Granted	336,186	$	9.59
Vested	(214,494)	$	10.79
Forfeited	(79,500)	$	9.43
Restricted stock units/awards outstanding at May 28, 2023	336,791	$	9.70

Stock-Based Compensation Expense

The following table summarizes the stock-based compensation by statement of operations line item:


	Year Ended
(in thousands)	May 28, 2023		May 29, 2022		May 30, 2021
Continuing operations:
Cost of sales	$	404	$	314	$	348
Research and development	193		202		223
Selling, general and administrative	3,015		2,126		2,734
Discontinued Operations	—		(34)		55
Total stock-based compensation	$	3,612	$	2,608	$	3,360

As of May 28, 2023, there was $4.2 million of total unrecognized compensation expense related to unvested equity compensation awards granted under the Company’s stock incentive plans. Total expense is expected to be recognized over the weighted-average period of 1.80 years for stock options and 1.36 years for restricted stock unit awards.

Stock Repurchase Plan

On July 14, 2010, the Board of Directors of the Company approved the establishment of a stock repurchase plan which allows for the repurchase of up to $10.0 million of the Company’s Common Stock. The Company may repurchase its Common Stock from time to time in open-market purchases or in privately negotiated transactions. The timing and actual number of shares repurchased is at the discretion of management of the Company and will depend on a variety of factors, including stock price, corporate and regulatory requirements, market conditions, the relative attractiveness of other capital deployment opportunities and other corporate priorities. The stock repurchase program does not obligate the Company to acquire any amount of its Common Stock and the program may be modified, suspended or terminated at any time at the Company’s discretion without prior notice. During fiscal years 2023, 2022 and 2021, the Company did not repurchase any shares.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481004/946-505-50-6

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480237/815-40-50-6

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480008/505-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (g)
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-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
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-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Publisher FASB
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (a)
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-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Topic 505
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-Name Accounting Standards Codification
-Section 50
-Paragraph 18
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

+ Details

Correction of Errors in Previously Reported Fiscal Year 2022 and 2021 Annual Financial Statements - Operations by Business Segment (Details) - USD ($) $ in Thousands	3 Months Ended											6 Months Ended			9 Months Ended			12 Months Ended
	May 28, 2023	Feb. 26, 2023	Nov. 27, 2022	Aug. 28, 2022	May 29, 2022	Feb. 27, 2022	Nov. 28, 2021	Aug. 29, 2021	Feb. 28, 2021	Nov. 29, 2020	Aug. 30, 2020	Nov. 27, 2022	Nov. 28, 2021	Nov. 29, 2020	Feb. 26, 2023	Feb. 27, 2022	Feb. 28, 2021	May 28, 2023	May 29, 2022	May 30, 2021
Segment Reporting Information [Line Items]
Product sales	$ 31,145	$ 26,536	$ 21,864	$ 23,724	$ 28,107	$ 35,232	$ 25,601	$ 22,330	$ 27,807	$ 23,792	$ 22,675	$ 45,587						$ 103,269	$ 111,270	$ 100,874
Gross profit	7,779	8,548	5,679	5,979	10,424	11,639	11,458	5,545	10,930	10,774	5,294	11,658						27,985	39,066	38,937
Net income (loss) from continuing operations	(36,998)	(11,330)	(9,201)	(6,707)	(3,630)	(10,920)	7,547	(8,473)	(1,751)	(8,390)	(9,990)	(15,908)						(64,236)	(15,476)	(23,437)
Loss from discontinued operations, net of tax	$ (2,286)	(25,177)	(3,605)	(4,259)	(51,641)	(2,666)	(46,018)	(914)	(5,227)	(3,233)	(2,420)	(7,864)						(35,327)	(101,239)	(8,857)
Dividend income										0	0
Interest income		22	16	15		20	19	27	13	10	8	31						68	81	48
Income tax (benefit) expense, continuing operations		70	4	4		3,389	(6,275)	(1,807)	(1,530)	(1,528)	(3,788)	8						$ 308	(5,211)	(6,350)
After Discontinued Operations Restatement
Segment Reporting Information [Line Items]
Product sales													$ 47,931	$ 46,468	$ 72,123
Gross profit													17,003	16,067	20,206
Net income (loss) from continuing operations													(926)	(18,381)	(27,238)
Loss from discontinued operations, net of tax													(46,932)	(5,652)	(33,041)
Dividend income														0
Interest income													46	18	53
Income tax (benefit) expense, continuing operations													(8,082)	(5,316)	78
As Reported
Segment Reporting Information [Line Items]
Product sales																			185,786	171,546
Gross profit																			50,370	50,471
Net income (loss) from continuing operations																			(63,524)	(9,569)
Loss from discontinued operations, net of tax																			(51,155)	(23,096)
Total assets					277,806														277,806	311,166
Depreciation and amortization																			10,757	8,571
Capital expenditures																			26,226	19,264
Interest income																			81	48
Interest expense																			17,357	(10,387)
Income tax (benefit) expense, continuing operations																			(5,945)	(1,903)
Corporate overhead allocation																			0	0
As Reported \| After Discontinued Operations Restatement
Segment Reporting Information [Line Items]
Product sales													85,084	266,547	77,748	$ 90,140	$ 126,629
Gross profit													25,150	36,983	19,570	31,633	35,890
Net income (loss) from continuing operations													(3,404)	(24,301)	(34,713)	(11,383)	(8,789)
Loss from discontinued operations, net of tax													(44,514)	0	(29,279)	(49,733)	(21,010)
Depreciation and amortization													5,039	9,039	8,160	5,328	6,582
Dividend income														563
Interest income													46	18	53	66	31
Interest expense													9,772	6,148	13,715	13,877	6,609
Income tax (benefit) expense, continuing operations													(4,736)	(7,009)	78	(5,591)	(1,025)
Corporate overhead allocation													0	0	0	0	0
As Reported \| Before Discontinued Operations Restatement
Segment Reporting Information [Line Items]
Product sales		27,600	38,802	43,355		37,399	43,452	41,632	44,690	130,904	135,643	82,157
Gross profit		5,978	7,108	6,252		12,866	14,715	10,435	14,441	20,637	16,347	13,360
Net income (loss) from continuing operations		(15,461)	(12,449)	(11,351)		(6,638)	4,229	(7,633)	(1,465)	(13,301)	(11,000)	(23,800)
Loss from discontinued operations, net of tax		(24,731)	0	0		(6,448)	(42,670)	(1,844)	(4,033)	0	0	0
Depreciation and amortization		2,131	2,442	3,949		1,996	2,585	2,454	2,237	4,292	4,748	6,391
Dividend income										281	281
Interest income		22	16	15		20	19	27	13	10	8	31
Interest expense		5,818	4,219	3,678		4,105	3,094	6,678	2,939	3,039	3,109	7,897
Income tax (benefit) expense, continuing operations		70	4	4		(87)	(3,085)	(1,651)	(58)	(2,700)	(4,309)	8
Corporate overhead allocation		0	0	0		0	0	0	0	0	0	0
Restatement
Segment Reporting Information [Line Items]
Product sales																			40	492
Gross profit																			(3,863)	(533)
Net income (loss) from continuing operations																			(1,749)	(13,550)
Loss from discontinued operations, net of tax																			(287)	13,921
Total assets					(3,103)														(3,103)	(1,039)
Depreciation and amortization																			83
Interest income																			0	0
Interest expense																			(1,806)	1,454
Income tax (benefit) expense, continuing operations																			287	(4,899)
Restatement \| After Discontinued Operations Restatement
Segment Reporting Information [Line Items]
Product sales													38	252	400	40	394
Gross profit													(918)	(58)	1,305	(1,597)	(953)
Net income (loss) from continuing operations													2,631	1,668	5,703	39	(13,860)
Loss from discontinued operations, net of tax													(2,571)	(1,400)	(1,990)	(367)	12,648
Depreciation and amortization													35		92	59
Dividend income														0
Interest income													0	0	0	0	0
Interest expense													(875)	(409)	(1,990)	(1,304)	(786)
Income tax (benefit) expense, continuing operations													(2,014)	433	0	0	(3,877)
Restatement \| Before Discontinued Operations Restatement
Segment Reporting Information [Line Items]
Product sales		206	173	21		2	38	0	142	24	228	194
Gross profit		2,469	(1,107)	(57)		(791)	(578)	(340)	(895)	42	(100)	(1,164)
Net income (loss) from continuing operations		3,384	(279)	412		(3,007)	2,145	486	(1,298)	3,078	(1,410)	133
Loss from discontinued operations, net of tax		301	(78)	(27)		2,507	(2,175)	(396)	(182)	(1,400)	0	(105)
Depreciation and amortization		31	31	30		24	24	11			(205)	61
Dividend income										0	0
Interest income		0	0	0		0	0	0	0	0	0	0
Interest expense		(963)	(595)	(432)		(429)	(327)	(548)	(377)	(204)		(1,027)
Income tax (benefit) expense, continuing operations		0	0	0		2,014	(2,147)	133	(339)	731	(298)	0
As Restated
Segment Reporting Information [Line Items]
Product sales																			185,826	172,038
Gross profit																			46,507	49,938
Net income (loss) from continuing operations																			(65,273)	(23,119)
Loss from discontinued operations, net of tax																			(51,442)	(9,175)
Total assets					274,703														274,703	310,127
Depreciation and amortization																			10,840	8,571
Capital expenditures																			26,226	19,264
Interest income																			81	48
Interest expense																			15,551	(8,933)
Income tax (benefit) expense, continuing operations																			(5,658)	(6,802)
Corporate overhead allocation																			0	0
As Restated \| After Discontinued Operations Restatement
Segment Reporting Information [Line Items]
Product sales													85,122	266,799	78,148	90,180	127,023
Gross profit													24,232	36,925	20,875	30,036	34,937
Net income (loss) from continuing operations													(773)	(22,633)	(29,010)	(11,344)	(22,649)
Loss from discontinued operations, net of tax													(47,085)	(1,400)	(31,269)	(50,100)	(8,362)
Depreciation and amortization													5,074	9,039	8,252	5,387	6,582
Dividend income														563
Interest income													46	18	53	66	31
Interest expense													8,897	5,739	11,725	12,573	5,823
Income tax (benefit) expense, continuing operations													(6,750)	(6,576)	78	(5,591)	(4,902)
Corporate overhead allocation													0	0	0	0	0
As Restated \| Before Discontinued Operations Restatement
Segment Reporting Information [Line Items]
Product sales		27,806	38,975	43,376		37,401	43,490	41,632	44,832	130,928	135,871	82,351
Gross profit		8,447	6,001	6,195		12,075	14,137	10,095	13,546	20,679	16,247	12,196
Net income (loss) from continuing operations		(12,077)	(12,728)	(10,939)		(9,645)	6,374	(7,147)	(2,763)	(10,223)	(12,410)	(23,667)
Loss from discontinued operations, net of tax		(24,430)	(78)	(27)		(3,941)	(44,845)	(2,240)	(4,215)	(1,400)	0	(105)
Depreciation and amortization		2,162	2,473	3,979		2,020	2,609	2,465	2,237	4,292	4,748	6,452
Dividend income										281	281
Interest income		22	16	15		20	19	27	13	10	8	31
Interest expense		4,855	3,624	3,246		3,676	2,767	6,130	2,562	2,835	2,904	6,870
Income tax (benefit) expense, continuing operations		70	4	4		1,927	(5,232)	(1,518)	(397)	(1,969)	(4,607)	8
Corporate overhead allocation		0	0	0		0	0	0	0	0	0	0
Lifecore \| As Reported
Segment Reporting Information [Line Items]
Product sales																			109,320	98,087
Gross profit																			43,746	38,265
Net income (loss) from continuing operations																			16,675	14,461
Loss from discontinued operations, net of tax																			0	0
Total assets					213,969														213,969	185,417
Depreciation and amortization																			6,673	5,502
Capital expenditures																			23,552	16,222
Interest income																			72	0
Interest expense																			0	0
Income tax (benefit) expense, continuing operations																			5,266	4,568
Corporate overhead allocation																			4,484	4,773
Lifecore \| As Reported \| After Discontinued Operations Restatement
Segment Reporting Information [Line Items]
Product sales													46,898	45,024	71,723	81,707	72,248
Gross profit													17,479	15,476	18,847	30,384	27,036
Net income (loss) from continuing operations													6,262	4,604	2,269	11,317	9,708
Loss from discontinued operations, net of tax													0	0	0	0	0
Depreciation and amortization													3,220	2,669	5,492	4,894	4,055
Dividend income														0
Interest income													39	0	47	57	0
Interest expense													0	0	0	0	0
Income tax (benefit) expense, continuing operations													1,977		717	3,574	3,066
Corporate overhead allocation													2,215	2,565	2,799	3,389	3,668
Lifecore \| As Reported \| Before Discontinued Operations Restatement
Segment Reporting Information [Line Items]
Product sales		26,330	21,691	23,703		34,808	24,946	21,952	27,225	23,219	21,804	45,393
Gross profit		6,072	6,675	6,101		12,905	11,715	5,764	11,561	10,474	5,002	12,776
Net income (loss) from continuing operations		851	916	502		5,054	5,682	580	5,104	4,492	112	1,419
Loss from discontinued operations, net of tax		0				0	0	0	0
Depreciation and amortization		1,878	1,843	1,771		1,674	1,673	1,547	1,385	1,360	1,310	3,614
Dividend income										0	0
Interest income		16	16	15		18	19	20	0	0	0	31
Interest expense		0	0	0		0	0	0	0	0	0	0
Income tax (benefit) expense, continuing operations		268	290	158		1,596	1,794	183	1,612	1,419	35	448
Corporate overhead allocation		739	1,022	1,038		1,175	1,078	1,137	1,102	1,162	1,403	2,060
Lifecore \| Restatement
Segment Reporting Information [Line Items]
Product sales																			40	492
Gross profit																			(3,863)	(533)
Net income (loss) from continuing operations																			(39)	(573)
Loss from discontinued operations, net of tax																			0	0
Total assets					(1,320)														(1,320)	737
Depreciation and amortization																			83
Interest expense																			0	0
Income tax (benefit) expense, continuing operations																			(3,824)	(482)
Lifecore \| Restatement \| After Discontinued Operations Restatement
Segment Reporting Information [Line Items]
Product sales													38	252	400	40	394
Gross profit													(806)	(58)	1,355	(1,597)	(953)
Net income (loss) from continuing operations													(5,498)	45	1,883	(2,412)	10
Loss from discontinued operations, net of tax													0	0	0	0	0
Depreciation and amortization													35		92	59
Interest expense													0	0	0	0	0
Income tax (benefit) expense, continuing operations													4,692		(728)	815	(963)
Lifecore \| Restatement \| Before Discontinued Operations Restatement
Segment Reporting Information [Line Items]
Product sales		206	173	21		2	38	0	142	24	228	194
Gross profit		2,469	(987)	(127)		(791)	(498)	(308)	(895)	42	(100)	(1,114)
Net income (loss) from continuing operations		2,557	(697)	31		2,268	(5,293)	(205)	(14)	500	(78)	(666)
Loss from discontinued operations, net of tax		0	0	0		0	0	0	0	0		0
Depreciation and amortization		31	31	30		24	24	11			0	61
Interest expense		0	0	0		0	0	0	0	0		0
Income tax (benefit) expense, continuing operations		(288)	(290)	(158)		(3,059)	4,795	(103)	(881)	(458)	(22)	(448)
Lifecore \| As Restated
Segment Reporting Information [Line Items]
Product sales																			109,360	98,579
Gross profit																			39,883	37,732
Net income (loss) from continuing operations																			16,636	13,888
Loss from discontinued operations, net of tax																			0	0
Total assets					212,649														212,649	186,154
Depreciation and amortization																			6,756	5,502
Capital expenditures																			23,552	16,222
Interest income																			72	0
Interest expense																			0	0
Income tax (benefit) expense, continuing operations																			1,442	4,086
Corporate overhead allocation																			4,484	4,773
Lifecore \| As Restated \| After Discontinued Operations Restatement
Segment Reporting Information [Line Items]
Product sales													46,936	45,276	72,123	81,747	72,642
Gross profit													16,673	15,418	20,202	28,787	26,083
Net income (loss) from continuing operations													764	4,649	4,152	8,905	9,718
Loss from discontinued operations, net of tax													0	0	0	0	0
Depreciation and amortization													3,255	2,669	5,584	4,953	4,055
Dividend income														0
Interest income													39	0	47	57	0
Interest expense													0	0	0	0	0
Income tax (benefit) expense, continuing operations													6,669		(11)	4,389	2,103
Corporate overhead allocation													2,215	2,565	2,799	3,389	3,668
Lifecore \| As Restated \| Before Discontinued Operations Restatement
Segment Reporting Information [Line Items]
Product sales		26,536	21,864	23,724		34,810	24,984	21,952	27,367	23,243	22,032	45,587
Gross profit		8,541	5,688	5,974		12,114	11,217	5,456	10,666	10,516	4,902	11,662
Net income (loss) from continuing operations		3,408	219	533		7,322	389	375	5,090	4,992	34	753
Loss from discontinued operations, net of tax		0	0	0		0	0	0	0	0		0
Depreciation and amortization		1,909	1,874	1,801		1,698	1,697	1,558	1,385	1,360	1,310	3,675
Dividend income										0	0
Interest income		16	16	15		18	19	20	0	0	0	31
Interest expense		0	0	0		0	0	0	0	0	0	0
Income tax (benefit) expense, continuing operations		(20)	0	0		(1,463)	6,589	80	731	961	13	0
Corporate overhead allocation		739	1,022	1,038		1,175	1,078	1,137	1,102	1,162	1,403	2,060
Curation Foods \| As Reported
Segment Reporting Information [Line Items]
Product sales																			76,466	73,459
Gross profit																			6,624	12,206
Net income (loss) from continuing operations																			(47,783)	(357)
Loss from discontinued operations, net of tax																			(48,114)	(23,096)
Total assets					59,594														59,594	121,069
Depreciation and amortization																			4,004	2,972
Capital expenditures																			2,674	3,042
Interest income																			0	0
Interest expense																			299	(545)
Income tax (benefit) expense, continuing operations																			(13,831)	(3,020)
Corporate overhead allocation																			1,092	946
Curation Foods \| As Reported \| After Discontinued Operations Restatement
Segment Reporting Information [Line Items]
Product sales													38,186	221,523	6,025	8,433	54,381
Gross profit													7,671	21,507	723	1,249	8,854
Net income (loss) from continuing operations													(1,030)	(20,654)	(1,974)	4,640	(1,346)
Loss from discontinued operations, net of tax													(44,514)	0	(27,350)	(46,692)	(21,010)
Depreciation and amortization													1,767	6,316	2,637	364	2,451
Dividend income														563
Interest income													0	0	0	0	0
Interest expense													273	2,751	1	300	410
Income tax (benefit) expense, continuing operations													(797)		(4,135)	(13,422)	(2,095)
Corporate overhead allocation													2,702	3,258	858	778	621
Curation Foods \| As Reported \| Before Discontinued Operations Restatement
Segment Reporting Information [Line Items]
Product sales		1,270	17,111	19,652		2,591	18,506	19,680	17,465	107,685	113,839	36,764
Gross profit		(94)	433	151		(39)	3,000	4,671	2,880	10,163	11,345	584
Net income (loss) from continuing operations		280	(3,295)	(2,721)		(5,380)	(747)	(284)	(394)	(12,383)	(8,271)	(6,017)
Loss from discontinued operations, net of tax		(22,802)				(3,407)	(42,670)	(1,844)	(4,033)
Depreciation and amortization		243	588	2,167		304	886	881	830	2,906	3,410	2,756
Dividend income										281	281
Interest income		0	0	0		0	0	0	0	0	0	0
Interest expense		0	0	0		26	136	137	136	1,376	1,376	1
Income tax (benefit) expense, continuing operations		(3,019)	(836)	(1,065)		(1,678)	(579)	(218)	(1,614)	(3,911)	(2,612)	(1,901)
Corporate overhead allocation		241	283	334		289	1,231	1,471	87	1,402	1,856	617
Curation Foods \| Restatement
Segment Reporting Information [Line Items]
Product sales																			0	0
Gross profit																			0	0
Net income (loss) from continuing operations																			(8,411)	(16,816)
Loss from discontinued operations, net of tax																			(287)	13,921
Total assets					(1,783)														(1,783)	(1,776)
Depreciation and amortization																			0
Interest expense																			0	0
Income tax (benefit) expense, continuing operations																			8,960	(2,032)
Curation Foods \| Restatement \| After Discontinued Operations Restatement
Segment Reporting Information [Line Items]
Product sales													0	0	0	0	0
Gross profit													(112)	0	(50)	0	0
Net income (loss) from continuing operations													899	953	(1,587)	(10,300)	(15,927)
Loss from discontinued operations, net of tax													(2,571)	(1,400)	(1,990)	(367)	12,648
Depreciation and amortization													0		0	0
Interest expense													0	0	0	0	0
Income tax (benefit) expense, continuing operations													(351)		4,145	10,632	(1,643)
Curation Foods \| Restatement \| Before Discontinued Operations Restatement
Segment Reporting Information [Line Items]
Product sales		0	0	0		0	0	0	0	0	0	0
Gross profit		0	(120)	70		0	(80)	(32)	0	0	0	(50)
Net income (loss) from continuing operations		(2,882)	(724)	(959)		(4,229)	716	183	(2,340)	1,708	(988)	(1,684)
Loss from discontinued operations, net of tax		301	(78)	(27)		2,507	(2,175)	(396)	(182)	(1,400)		(105)
Depreciation and amortization		0	0	0		0	0	0			0	0
Interest expense		0	0	0		0	0	0	0	0		0
Income tax (benefit) expense, continuing operations		3,034	837	1,066		3,598	(547)	196	1,221	1,855	(825)	1,904
Curation Foods \| As Restated
Segment Reporting Information [Line Items]
Product sales																			76,466	73,459
Gross profit																			6,624	12,206
Net income (loss) from continuing operations																			(56,194)	(17,173)
Loss from discontinued operations, net of tax																			(48,401)	(9,175)
Total assets					57,811														57,811	119,293
Depreciation and amortization																			4,004	2,972
Capital expenditures																			2,674	3,042
Interest income																			0	0
Interest expense																			299	(545)
Income tax (benefit) expense, continuing operations																			(4,871)	(5,052)
Corporate overhead allocation																			1,092	946
Curation Foods \| As Restated \| After Discontinued Operations Restatement
Segment Reporting Information [Line Items]
Product sales													38,186	221,523	6,025	8,433	54,381
Gross profit													7,559	21,507	673	1,249	8,854
Net income (loss) from continuing operations													(131)	(19,701)	(3,561)	(5,660)	(17,273)
Loss from discontinued operations, net of tax													(47,085)	(1,400)	(29,340)	(47,059)	(8,362)
Depreciation and amortization													1,767	6,316	2,637	364	2,451
Dividend income														563
Interest income													0	0	0	0	0
Interest expense													273	2,751	1	300	410
Income tax (benefit) expense, continuing operations													(1,148)		10	(2,790)	(3,738)
Corporate overhead allocation													2,702	3,258	858	778	621
Curation Foods \| As Restated \| Before Discontinued Operations Restatement
Segment Reporting Information [Line Items]
Product sales		1,270	17,111	19,652		2,591	18,506	19,680	17,465	107,685	113,839	36,764
Gross profit		(94)	313	221		(39)	2,920	4,639	2,880	10,163	11,345	534
Net income (loss) from continuing operations		(2,602)	(4,019)	(3,680)		(9,609)	(31)	(101)	(2,734)	(10,675)	(9,259)	(7,701)
Loss from discontinued operations, net of tax		(22,501)	(78)	(27)		(900)	(44,845)	(2,240)	(4,215)	(1,400)		(105)
Depreciation and amortization		243	588	2,167		304	886	881	830	2,906	3,410	2,756
Dividend income										281	281
Interest income		0	0	0		0	0	0	0	0	0	0
Interest expense		0	0	0		26	136	137	136	1,376	1,376	1
Income tax (benefit) expense, continuing operations		15	1	1		1,920	(1,126)	(22)	(393)	(2,056)	(3,437)	3
Corporate overhead allocation		241	283	334		289	1,231	1,471	87	1,402	1,856	617
Other \| As Reported
Segment Reporting Information [Line Items]
Product sales																			0	0
Gross profit																			0	0
Net income (loss) from continuing operations																			(32,416)	(23,673)
Loss from discontinued operations, net of tax																			(3,041)	0
Total assets					4,243														4,243	4,680
Depreciation and amortization																			80	97
Capital expenditures																			0	0
Interest income																			9	48
Interest expense																			17,058	(9,842)
Income tax (benefit) expense, continuing operations																			2,620	(3,451)
Corporate overhead allocation																			(5,576)	(5,719)
Other \| As Reported \| After Discontinued Operations Restatement
Segment Reporting Information [Line Items]
Product sales													0	0	0	0	0
Gross profit													0	0	0	0	0
Net income (loss) from continuing operations													(8,636)	(8,251)	(35,008)	(27,340)	(17,151)
Loss from discontinued operations, net of tax													0	0	(1,929)	(3,041)	0
Depreciation and amortization													52	54	31	70	76
Dividend income														0
Interest income													7	18	6	9	31
Interest expense													9,499	3,397	13,714	13,577	6,199
Income tax (benefit) expense, continuing operations													(5,916)		3,496	4,257	(1,996)
Corporate overhead allocation													(4,917)	(5,823)	(3,657)	(4,167)	(4,289)
Other \| As Reported \| Before Discontinued Operations Restatement
Segment Reporting Information [Line Items]
Product sales		0	0	0		0	0	0	0	0	0	0
Gross profit		0	0	0		0	0	0	0	0	0	0
Net income (loss) from continuing operations		(16,592)	(10,070)	(9,132)		(6,312)	(706)	(7,929)	(6,175)	(5,410)	(2,841)	(19,202)
Loss from discontinued operations, net of tax		(1,929)				(3,041)	0	0	0
Depreciation and amortization		10	11	11		18	26	26	22	26	28	21
Dividend income										0	0
Interest income		6	0	0		2	0	7	13	10	8	0
Interest expense		5,818	4,219	3,678		4,079	2,958	6,541	2,803	1,663	1,733	7,896
Income tax (benefit) expense, continuing operations		2,821	550	911		(5)	(4,300)	(1,616)	(56)	(208)	(1,732)	1,461
Corporate overhead allocation		(980)	(1,305)	(1,372)		(1,464)	(2,309)	(2,608)	(1,189)	(2,564)	(3,259)	(2,677)
Other \| Restatement
Segment Reporting Information [Line Items]
Product sales																			0	0
Gross profit																			0	0
Net income (loss) from continuing operations																			6,701	3,839
Loss from discontinued operations, net of tax																			0	0
Total assets					0														0	0
Depreciation and amortization																			0
Interest expense																			(1,806)	1,454
Income tax (benefit) expense, continuing operations																			(4,849)	(2,385)
Other \| Restatement \| After Discontinued Operations Restatement
Segment Reporting Information [Line Items]
Product sales													0	0	0	0	0
Gross profit													0	0	0	0	0
Net income (loss) from continuing operations													7,230	670	5,407	12,751	2,057
Loss from discontinued operations, net of tax													0	0	0	0	0
Depreciation and amortization													0		0	0
Interest expense													(875)	(409)	(1,990)	(1,304)	(786)
Income tax (benefit) expense, continuing operations													(6,355)		(3,417)	(11,447)	(1,271)
Other \| Restatement \| Before Discontinued Operations Restatement
Segment Reporting Information [Line Items]
Product sales		0	0	0		0	0	0	0	0	0	0
Gross profit		0	0	0		0	0	0	0	0	0	0
Net income (loss) from continuing operations		3,709	1,142	1,340		(1,046)	6,722	508	1,056	870	(344)	2,483
Loss from discontinued operations, net of tax		0	0	0		0	0	0	0	0		0
Depreciation and amortization		0	0	0		0	0	0			(205)	0
Interest expense		(963)	(595)	(432)		(429)	(327)	(548)	(377)	(204)		(1,027)
Income tax (benefit) expense, continuing operations		(2,746)	(547)	(908)		1,475	(6,395)	40	(679)	(666)	549	(1,456)
Other \| As Restated
Segment Reporting Information [Line Items]
Product sales																			0	0
Gross profit																			0	0
Net income (loss) from continuing operations																			(25,715)	(19,834)
Loss from discontinued operations, net of tax																			(3,041)	0
Total assets					$ 4,243														4,243	4,680
Depreciation and amortization																			80	97
Capital expenditures																			0	0
Interest income																			9	48
Interest expense																			15,252	(8,388)
Income tax (benefit) expense, continuing operations																			(2,229)	(5,836)
Corporate overhead allocation																			$ (5,576)	$ (5,719)
Other \| As Restated \| After Discontinued Operations Restatement
Segment Reporting Information [Line Items]
Product sales													0	0	0	0	0
Gross profit													0	0	0	0	0
Net income (loss) from continuing operations													(1,406)	(7,581)	(29,601)	(14,589)	(15,094)
Loss from discontinued operations, net of tax													0	0	(1,929)	(3,041)	0
Depreciation and amortization													52	54	31	70	76
Dividend income														0
Interest income													7	18	6	9	31
Interest expense													8,624	2,988	11,724	12,273	5,413
Income tax (benefit) expense, continuing operations													(12,271)		79	(7,190)	(3,267)
Corporate overhead allocation													$ (4,917)	$ (5,823)	$ (3,657)	$ (4,167)	$ (4,289)
Other \| As Restated \| Before Discontinued Operations Restatement
Segment Reporting Information [Line Items]
Product sales		0	0	0		0	0	0	0	0	0	0
Gross profit		0	0	0		0	0	0	0	0	0	0
Net income (loss) from continuing operations		(12,883)	(8,928)	(7,792)		(7,358)	6,016	(7,421)	(5,119)	(4,540)	(3,185)	(16,719)
Loss from discontinued operations, net of tax		(1,929)	0	0		(3,041)	0	0	0	0		0
Depreciation and amortization		10	11	11		18	26	26	22	26	28	21
Dividend income										0	0
Interest income		6	0	0		2	0	7	13	10	8	0
Interest expense		4,855	3,624	3,246		3,650	2,631	5,993	2,426	1,459	1,528	6,869
Income tax (benefit) expense, continuing operations		75	3	3		1,470	(10,695)	(1,576)	(735)	(874)	(1,183)	5
Corporate overhead allocation		$ (980)	$ (1,305)	$ (1,372)		$ (1,464)	$ (2,309)	$ (2,608)	$ (1,189)	$ (2,564)	$ (3,259)	$ (2,677)

Correction of Errors in Previously Reported Fiscal Year 2022 and 2021 Annual Financial Statements - Discontinued Operations - Assets and Liabilities (Details) - USD ($) $ in Thousands	May 28, 2023	Feb. 26, 2023	Nov. 27, 2022	Aug. 28, 2022	May 29, 2022	Feb. 27, 2022	Nov. 28, 2021	Aug. 29, 2021	May 30, 2021	Feb. 28, 2021	Nov. 29, 2020	Aug. 30, 2020
ASSETS
Cash and cash equivalents	$ 0				$ 652				$ 532
Total current assets, discontinued operations	0	$ 5,687	$ 45,592	$ 36,896	39,310	$ 49,716	$ 81,293	$ 73,318	77,515	$ 90,219	$ 80,554	$ 74,513
Total other assets, discontinued operations	0	1,324	10,881	12,528	12,842	59,829	133,215	168,426	169,367	170,433	173,812	176,065
LIABILITIES
Total current liabilities, discontinued operations	0	458	16,832	8,845	4,744	8,790	62,416	51,290	49,457	61,481	66,454	58,961
Non-current liabilities, discontinued operations	$ 0	518	1,979	2,153	2,325	2,494	4,821	6,146	6,965	7,240	8,064	7,861
Discontinued Operations
ASSETS
Total current assets, discontinued operations		5,687	45,592	36,896	39,310	49,716	81,293	73,318	40,412	90,219	80,554	74,513
Total other assets, discontinued operations		1,324	10,881	12,528	12,842	59,829	133,215	168,426	60,327	170,433	173,812	176,065
LIABILITIES
Total current liabilities, discontinued operations		458	16,832	8,845	4,744	8,790	62,416	51,290	6,813	61,481	66,454	58,961
Non-current liabilities, discontinued operations		518	1,979	2,153	2,325	2,494	4,821	6,146	2,984	7,240	8,064	7,861
As Reported
ASSETS
Total current assets, discontinued operations		0	0	0	0	0	0	0	37,618	0	0	0
Total other assets, discontinued operations		0	0	0	0	0	0	0	154,140	0	0	0
LIABILITIES
Total current liabilities, discontinued operations		0	0	0	0	0	0	0	42,644	0	0	0
Non-current liabilities, discontinued operations		0	0	0	0	0	0	0	3,981	0	0	0
Restatement
ASSETS
Total current assets, discontinued operations		0	0	0	0	0	0	0	(515)	0	0	0
Total other assets, discontinued operations		0	0	0	0	0	0	0	(45,100)	0	0	0
LIABILITIES
Total current liabilities, discontinued operations		0	0	0	0	0	0	0	0	0	0	0
Non-current liabilities, discontinued operations		0	0	0	0	0	0	0	0	0	0	0
As Restated
ASSETS
Total current assets, discontinued operations		0	0	0	0	0	0	0	37,103	0	0	0
Total other assets, discontinued operations		0	0	0	0	0	0	0	109,040	0	0	0
LIABILITIES
Total current liabilities, discontinued operations		0	0	0	0	0	0	0	42,644	0	0	0
Non-current liabilities, discontinued operations		$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	3,981	$ 0	$ 0	$ 0
Discontinued Operations \| Eat Smart \| As Reported
ASSETS
Cash and cash equivalents									136
Accounts receivable, less allowance for credit losses									28,583
Inventories									6,587
Prepaid expenses and other current assets									2,312
Total current assets, discontinued operations									37,618
Investment in non-public company, fair value									45,100
Property and equipment, net									59,273
Operating lease right-of-use assets									3,729
Goodwill									35,470
Other assets									80
Total other assets, discontinued operations									154,140
Total assets, discontinued operations									191,758
LIABILITIES
Accounts payable									31,271
Accrued compensation									4,550
Other accrued liabilities									4,041
Current portion of lease liabilities									2,289
Deferred revenue									493
Total current liabilities, discontinued operations									42,644
Long-term lease liabilities									3,252
Disposal Group, Including Discontinued Operation, Other Liabilities, Noncurrent									729
Non-current liabilities, discontinued operations									3,981
Total liabilities, discontinued operations									46,625
Discontinued Operations \| Eat Smart \| Restatement
ASSETS
Cash and cash equivalents									0
Accounts receivable, less allowance for credit losses									0
Inventories									0
Prepaid expenses and other current assets									(515)
Total current assets, discontinued operations									(515)
Investment in non-public company, fair value									(45,100)
Property and equipment, net									0
Operating lease right-of-use assets									0
Goodwill									0
Other assets									0
Total other assets, discontinued operations									(45,100)
Total assets, discontinued operations									(45,615)
LIABILITIES
Accounts payable									0
Accrued compensation									0
Other accrued liabilities									350
Current portion of lease liabilities									0
Deferred revenue									(350)
Total current liabilities, discontinued operations									0
Long-term lease liabilities									0
Disposal Group, Including Discontinued Operation, Other Liabilities, Noncurrent									0
Non-current liabilities, discontinued operations									0
Total liabilities, discontinued operations									0
Discontinued Operations \| Eat Smart \| As Restated
ASSETS
Cash and cash equivalents									136
Accounts receivable, less allowance for credit losses									28,583
Inventories									6,587
Prepaid expenses and other current assets									1,797
Total current assets, discontinued operations									37,103
Investment in non-public company, fair value									0
Property and equipment, net									59,273
Operating lease right-of-use assets									3,729
Goodwill									35,470
Other assets									80
Total other assets, discontinued operations									109,040
Total assets, discontinued operations									146,143
LIABILITIES
Accounts payable									31,271
Accrued compensation									4,550
Other accrued liabilities									4,391
Current portion of lease liabilities									2,289
Deferred revenue									143
Total current liabilities, discontinued operations									42,644
Long-term lease liabilities									3,252
Disposal Group, Including Discontinued Operation, Other Liabilities, Noncurrent									729
Non-current liabilities, discontinued operations									3,981
Total liabilities, discontinued operations									46,625
Discontinued Operations \| Eat Smart \| Trademarks/tradenames \| As Reported
ASSETS
Intangible assets, non-current									8,228
Discontinued Operations \| Eat Smart \| Trademarks/tradenames \| Restatement
ASSETS
Intangible assets, non-current									0
Discontinued Operations \| Eat Smart \| Trademarks/tradenames \| As Restated
ASSETS
Intangible assets, non-current									8,228
Discontinued Operations \| Eat Smart \| Customer relationships \| As Reported
ASSETS
Intangible assets, non-current									2,260
Discontinued Operations \| Eat Smart \| Customer relationships \| Restatement
ASSETS
Intangible assets, non-current									0
Discontinued Operations \| Eat Smart \| Customer relationships \| As Restated
ASSETS
Intangible assets, non-current									$ 2,260

Correction of Errors in Previously Reported Fiscal Year 2022 and 2021 Annual Financial Statements

12 Months Ended

May 28, 2023

Accounting Changes and Error Corrections [Abstract]

Correction of Errors in Previously Reported Fiscal Year 2022 and 2021 Annual Financial Statements

The Company is restating (the “Restatement”) the previously issued consolidated financial statements as of and for the fiscal years ended May 29, 2022 (“FY22”) and May 30, 2021 (“FY21”) included in the Company’s Annual Report on Form 10-K/A filed with the Securities and Exchange Commission (the “SEC”), the Company’s unaudited consolidated financial statements as of and for the periods ending August 30, 2020, November 29, 2020, February 28, 2021, August 29, 2021, November 28, 2021, February 27, 2022, August 28, 2022, November 27, 2022 and February 26, 2023 included in the Company’s Quarterly Reports on Form 10-Q filed with the SEC as presented in note 14. Unaudited Quarterly Consolidated Financial Information (collectively, the “Non-Reliance Periods”).

The following descriptions of the restatement adjustments within the respective Non-Reliance Periods exclude a description of errors previously identified and concluded as immaterial that were also corrected as part of the restatement. The more significant adjustments to the Lifecore segment financial statements, are described as follows:

1.The Company restated the Lifecore segment revenues and cost of sales in FY22 and FY21 to gross up revenues and cost of sales for certain performance obligations the Company acted as a principal in the arrangements.

2.The Company restated inventories and cost of sales to write down inventories to their net realizable value in FY22 and FY21 which reduced inventories and increased cost of sales during those periods.

3.The Company restated property and equipment and interest expense to record capitalized interest on assets under construction in FY22 and FY21 which increased property and equipment and reduced interest expense during those periods.

4.The Company restated FY21 opening retained earnings to account for the cumulative effect of the above restatements.

The more significant restatement adjustments to the Company’s former Curation Foods segment financial information is described as follows:

1.The Company restated FY21 opening retained earnings related to its former Curation Foods businesses non-current other receivables that were not collectable prior to the fiscal year periods presented in the consolidated FY23 financial statements.

2.The Company restated the presentation of certain operating costs and expenses of continuing operations and discontinued operations affecting FY22 and FY21.

In addition to the errors described above, the Company corrected certain items that were previously uncorrected and immaterial adjustments to prior periods, but are now being corrected as a part of the restatement.

Description of Annual Restatement Tables

The following tables present the impact of the restatement on our previously reported consolidated statements of operations, comprehensive loss, balance sheet, convertible preferred stock and stockholder’s equity (deficit), cash flows, and certain disclosures for the two years ended May 29, 2022, for which the values were derived from our Annual Report on Form 10-K for the fiscal year ended May 29, 2022 filed on September 14, 2022, as amended by Amendment No. 1 to Annual Report on Form 10-K/A for the fiscal year ended May 29, 2022 filed on March 16, 2023. The tables present the amounts as previously reported in the respective filings, adjustments to restate (restatement), as restated, and then reclassifications for discontinued operations to conform to the presentation in the consolidated financial statements as of and for the fiscal year ended May 28, 2023.

As of and for the year ended May 29, 2022

The effects of the restatement on the consolidated balance sheet as of May 29, 2022 are summarized in the following table:


	May 29, 2022
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
ASSETS
Current Assets:
Cash and cash equivalents	$	1,643	$	—	$	1,643	$	(652)	$	991
Accounts receivable, net	48,172		(522)		47,650		(9,336)		38,314
Inventories	66,845		(4,833)		62,012		(26,012)		36,000
Prepaid expenses and other current assets	7,052		(1,689)		5,363		(3,310)		2,053
Current Assets, discontinued operations	—		—		—		39,310		39,310
Total Current Assets	123,712		(7,044)		116,668		—		116,668

Property and equipment, net	118,531		4,035		122,566		(3,896)		118,670
Operating lease right-of-use assets	8,580		(94)		8,486		(2,933)		5,553
Goodwill	13,881		—		13,881		—		13,881
Trademarks/tradenames, net	8,700		—		8,700		(4,500)		4,200
Customer relationships, net	1,400		—		1,400		(1,400)		—
Other assets	3,002		—		3,002		(113)		2,889
Non-current Assets, discontinued operations	—		—		—		12,842		12,842
Total Assets	$	277,806	$	(3,103)	$	274,703	$	—	$	274,703

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities:
Accounts payable	$	15,802	$	—	$	15,802	$	(2,850)	$	12,952
Accrued compensation	9,238		—		9,238		(297)		8,941
Other accrued liabilities	7,647		(229)		7,418		(939)		6,479
Current portion of lease liabilities	5,026		—		5,026		(658)		4,368
Deferred revenue	919		—		919		—		919
Line of credit	40,000		—		40,000		—		40,000
Current portion of long-term debt, net	98,178		—		98,178		—		98,178
Current liabilities, discontinued operations	—		—		—		4,744		4,744
Total Current Liabilities	176,810		(229)		176,581		—		176,581

Long-term lease liabilities	9,983		—		9,983		(2,325)		7,658
Deferred taxes, net	126		—		126		—		126
Other non-current liabilities	190		—		190		—		190
Non-current liabilities, discontinued operations	—		—		—		2,325		2,325
Total Liabilities	187,109		(229)		186,880		—		186,880

Stockholders’ Equity:
Common stock, $0.001 par value; 50,000 shares authorized	30		—		30		—		30
Additional paid-in capital	167,352		—		167,352		—		167,352
Accumulated deficit	(76,099)		(2,874)		(78,973)		—		(78,973)
Accumulated other comprehensive loss	(586)		—		(586)		—		(586)
Total Stockholders’ Equity	90,697		(2,874)		87,823		—		87,823
Total Liabilities and Stockholders’ Equity	$	277,806	$	(3,103)	$	274,703	$	—	$	274,703

The effects of the restatement on the consolidated statement of operations and comprehensive income (loss) for the year ended May 29, 2022 are summarized in the following table:


	Year ended May 29, 2022
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Product sales	$	185,786	$	40	$	185,826	$	(74,556)	$	111,270
Cost of product sales	135,416		3,903		139,319		(67,115)		72,204
Gross profit	50,370		(3,863)		46,507		(7,441)		39,066
Operating costs and expenses:
Research and development	7,841		521		8,362		(523)		7,839
Selling, general and administrative	46,127		(395)		45,732		(11,073)		34,659
Impairment of goodwill and long-lived and indefinite-lived assets	46,089		—		46,089		(46,089)		—
Restructuring costs	8,961		(602)		8,359		—		8,359
Total operating costs and expenses	109,018		(476)		108,542		(57,685)		50,857
Operating (loss) income	(58,648)		(3,387)		(62,035)		50,244		(11,791)


Interest income	81		—		81		—		81
Interest expense	(17,357)		1,806		(15,551)		—		(15,551)
Transition services income	5,814		—		5,814		—		5,814
Other expense	641		119		760		—		760
Net (loss) income from continuing operations before taxes	(69,469)		(1,462)		(70,931)		50,244		(20,687)
Income tax benefit (provision)	5,945		(287)		5,658		(447)		5,211
Net (loss) income from continuing operations	(63,524)		(1,749)		(65,273)		49,797		(15,476)

Discontinued operations:
Loss from discontinued operations	(51,276)		(409)		(51,685)		(50,244)		(101,929)
Income tax benefit	121		122		243		447		690
Loss from discontinued operations, net of tax	(51,155)		(287)		(51,442)		(49,797)		(101,239)
Net loss	(114,679)		(2,036)		(116,715)		—		(116,715)

Basic net (loss) income per share:
Loss from continuing operations	$	(2.16)	$	(0.06)	$	(2.22)	$	1.69	$	(0.53)
Loss from discontinued operations	$	(1.74)	$	(0.01)	$	(1.75)	$	(1.69)	$	(3.44)
Total basic loss income per share	$	(3.90)	$	(0.07)	$	(3.97)	$	—	$	(3.97)

Diluted net loss per share:
Loss from continuing operations	$	(2.16)	$	(0.06)	$	(2.22)	$	1.69	$	(0.53)
Loss from discontinued operations	$	(1.74)	$	(0.01)	$	(1.75)	$	(1.69)	$	(3.44)
Total diluted net loss per share	$	(3.90)	$	(0.07)	$	(3.97)	$	—	$	(3.97)

Shares used in per share computation
Basic	29,466		—		29,466		—		29,466
Diluted	29,466		—		29,466		—		29,466


	Year ended May 29, 2022
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Net loss applicable to common shareholders	$	(114,679)	$	(2,036)	$	(116,715)	$	—	$	(116,715)
Other comprehensive (loss) income, net of tax:
Net unrealized gains on interest rate swaps (net of tax effect of $(430)	$	772	$	—	$	772	$	—	$	772
Other comprehensive (loss) income, net of tax	$	772	$	—	$	772	$	—	$	772
Total comprehensive (loss) income	$	(113,907)	$	(2,036)	$	(115,943)	$	—	$	(115,943)

The effects of the restatement on the consolidated statement of stockholders’ equity (deficit) for the year ended May 29, 2022 are summarized in the following table:


(in thousands, except per share amounts)	Common Stock			Additional Paid-in Capital		Retained Earnings (Accumulated Deficit)		Accumulated Other Comprehensive Loss		Total Stockholders’ Equity
	Shares	Amount
As Reported
Balance at May 30, 2021	29,333	$	29	$	165,533	$	38,580	$	(1,358)	$	202,784

Issuance of stock under stock plans, net of shares withheld	180	1		—		—		—		1
Taxes paid by Company for employee stock plans	—	—		(789)		—		—		(789)
Stock-based compensation	—	—		2,608		—		—		2,608
Net loss	—	—		—		(114,679)		—		(114,679)
Other comprehensive income, net of tax	—	—		—		—		772		772
Balance at May 29, 2022	29,513	$	30	$	167,352	$	(76,099)	$	(586)	$	90,697

Restatements Adjustments
Opening retained earnings	—	—		—		(838)		—		(838)
Net loss	—	—		—		(2,036)		—		(2,036)

As Restated
Balance at May 30, 2021	29,333	$	29	$	165,533	$	37,742	$	(1,358)	$	201,946

Issuance of stock under stock plans, net of shares withheld	180	1		—		—		—		1
Taxes paid by Company for employee stock plans	—	—		(789)		—		—		(789)
Stock-based compensation	—	—		2,608		—		—		2,608
Net loss	—	—		—		(116,715)		—		(116,715)
Other comprehensive income, net of tax	—	—		—		—		772		772
Balance at May 29, 2022	29,513	$	30	$	167,352	$	(78,973)	$	(586)	$	87,823

The effects of the restatement on the consolidated statement of cash flows for the year ended May 29, 2022 are summarized in the following table:


	Year Ended May 29, 2022
	As Reported		Restatement Adjustment		As Restated
Cash flows from operating activities:
Net loss	$	(114,679)	$	(2,036)	$	(116,715)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Impairment of goodwill and long-lived and indefinite-lived assets	78,146		—		78,146
Depreciation, amortization of intangibles, debt costs and right-of-use assets	17,884		177		18,061
Deferred taxes	(6,990)		165		(6,825)
Loss on disposal of property and equipment related to restructuring, net	5,185		—		5,185
Stock-based compensation expense	2,608		—		2,608
Loss on sale of Eat Smart	336		—		336
Net loss on disposal of property and equipment held and used	152		—		152
Provision for expected credit losses	(14)		—		(14)
Other, net	(426)		—		(426)
Changes in current assets and current liabilities:
Accounts receivable, net	(6,138)		—		(6,138)
Inventory	(5,960)		3,780		(2,180)
Prepaid expenses and other current assets	(602)		(87)		(689)
Accounts payable	9,343		—		9,343
Accrued compensation	(2,546)		—		(2,546)
Other accrued liabilities	(680)		(193)		(873)
Deferred revenue	(18)		—		(18)
Net cash (used in) provided by operating activities	(24,399)		1,806		(22,593)
Cash flows from investing activities:
Proceeds from the Sale of Eat Smart	73,500		—		73,500
Eat Smart sale net working capital adjustment	(9,839)		—		(9,839)
Proceeds from sale of investment in non-public company	45,100		—		45,100
Purchases of property and equipment	(28,134)		(1,806)		(29,940)
Proceeds from sales of property and equipment	1,141		—		1,141
Net cash provided by (used in) investing activities	81,768		(1,806)		79,962
Cash flows from financing activities:
Proceeds from long-term debt	20,000		—		20,000
Payments on long-term debt	(86,411)		—		(86,411)
Proceeds from line of credit	55,111		—		55,111
Payments on line of credit	(44,111)		—		(44,111)
Payments for debt issuance costs	(821)		—		(821)
Taxes paid by Company for employee stock plans	(789)		—		(789)
Net cash used in financing activities	(57,021)		—		(57,021)
Net increase in cash, cash equivalents and restricted cash	348		—		348
Cash, cash equivalents and restricted cash, beginning of period	1,295		—		1,295
Cash, cash equivalents and restricted cash, end of period	$	1,643	$	—	$	1,643


	Year Ended May 29, 2022
(in thousands)	Balance at beginning of period		Provision (benefit) for expected credit losses	Write offs, net of recoveries	Balance at end of period
Year ended May 29, 2022, As Reported	$	85	(14)	(6)	$	65
Restatement Adjustment	$	522	—	—	$	522
Year ended May 29, 2022, As Restated	$	607	(14)	(6)	$	587
Discontinued Operations	$	(85)	14	6	$	(65)
Year ended May 29, 2022, As Restated, after Discontinued Operations	$	522	—	—	$	522


	May 29, 2022
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Finished goods	$	33,029	$	(3)	$	33,026	$	(19,629)	$	13,397
Raw materials	24,221		(2,393)		21,828		(6,340)		15,488
Work in progress	9,595		(2,437)		7,158		(43)		7,115
Total inventories	$	66,845	$	(4,833)	$	62,012	$	(26,012)	$	36,000


	Year ended May 29, 2022
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Numerator:
Net loss applicable to Common Stockholders	$	(114,679)	$	(2,036)	$	(116,715)	$	—	$	(116,715)

Denominator:
Weighted average shares for basic net income per share	29,466		—		29,466		—		29,466



Weighted average shares for diluted net income per share	29,466		—		29,466		—		29,466

Diluted net loss per share	$	(3.90)	$	(0.07)	$	(3.97)	$	—	$	(3.97)


	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Contact development and manufacturing organization	$	86,313	$	40	$	86,353	$	—	$	86,353
Fermentation	23,007		—		23,007		—		23,007

Total	$	109,320	$	40	$	109,360	$	—	$	109,360

	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Avocado Products	$	65,269	$	—	$	65,269	$	(65,269)	$	—
Olive oil and vinegars	9,287		—		9,287		(9,287)		—
Technology	1,910		—		1,910		—		1,910
Total	$	76,466	$	—	$	76,466	$	(74,556)	$	1,910


	May 29, 2022
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Land	$	3,710	$	—	$	3,710	$	—	$	3,710
Buildings	58,359		—		58,359		—		58,359
Leasehold improvements	5,143		—		5,143		(1,124)		4,019
Computers, capitalized software, machinery, equipment and autos	74,974		—		74,974		(4,512)		70,462
Furniture and fixtures	2,099		—		2,099		(8)		2,091
Construction in process	22,786		4,118		26,904		(12)		26,892
Gross property and equipment	167,071		4,118		171,189		(5,656)		165,533
Less accumulated depreciation and amortization	(48,540)		(83)		(48,623)		1,760		(46,863)
Net property and equipment	$	118,531	$	4,035	$	122,566	$	(3,896)	$	118,670


	For the Year Ended May 29, 2022
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Current:

State	23		—		23		—		23
Foreign	356		—		356		—		356
	379		—		379		—		379

Deferred:
Federal	$	(5,670)	$	287	$	(5,383)	$	447	$	(4,936)
State	(654)		—		(654)		—		(654)
	(6,324)		287		(6,037)		447		(5,590)
Total (provision) benefit for income taxes	(5,945)		287		(5,658)		447		(5,211)


	For the Year Ended May 29, 2022
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Tax at U.S. statutory rate	$	(14,548)	$	(288)	$	(14,836)	$	10,492	$	(4,344)
State income taxes, net of federal benefit	(2,195)		(44)		(2,239)		1,601		(638)

Change in valuation allowance	10,134		634		10,768		(11,833)		(1,065)
Tax credit carryforwards	(436)		—		(436)		—		(436)
Other compensation-related activity	234		—		234		—		234
Impairment of goodwill	2,347		—		2,347		—		2,347
Foreign rate differential	(496)		—		(496)		—		(496)
Other	(985)		(15)		(1,000)		187		(813)
Income tax (expense) benefit	$	(5,945)	$	287	$	(5,658)	$	447	$	(5,211)


	As of May 29, 2022
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Deferred tax assets:
Accruals and reserves	$	867	$	886	$	1,753	$	—	$	1,753
Net operating loss carryforwards	28,558		399		28,957		—		28,957
Stock-based compensation	880		—		880		—		880
Research and AMT credit carryforwards	5,611		—		5,611		—		5,611
Lease Liability	2,874		—		2,874		—		2,874
Limitations on business interest expense	4,245		(741)		3,504		—		3,504
Goodwill and other indefinite life intangibles	2,745		—		2,745		—		2,745
Other	750		2		752		—		752
Gross deferred tax assets	46,530		546		47,076		—		47,076
Valuation Allowance	(35,942)		(589)		(36,531)		—		(36,531)
Net deferred tax assets	10,588		(43)		10,545		—		10,545

Deferred tax liabilities:
Depreciation and amortization	(8,614)		20		(8,594)		—		(8,594)


Right of use asset	(2,100)		23		(2,077)		—		(2,077)
Deferred tax liabilities	(10,714)		43		(10,671)		—		(10,671)

Net deferred tax liabilities	$	(126)	$	—	$	(126)	$	—	$	(126)


	As of May 29, 2022
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Unrecognized tax benefits – beginning of the period	$	942	$	16	$	958	$	—	$	958


Gross increases – current-period tax positions	83		—		83		—		83

Unrecognized tax benefits – end of the period	$	1,025	$	16	$	1,041	$	—	$	1,041


	For the Year Ended May 29, 2022
(in thousands)	Lifecore		Curation Foods		Other		Total
Year Ended May 29, 2022, As Reported
Net sales	$	109,320	$	76,466	$	—	$	185,786
Gross profit	43,746		6,624		—		50,370
Net income (loss) from continuing operations	16,675		(47,783)		(32,416)		(63,524)
Loss from discontinued operations, net of tax	—		(48,114)		(3,041)		(51,155)
Total assets	213,969		59,594		4,243		277,806
Depreciation and amortization	6,673		4,004		80		10,757
Capital expenditures	23,552		2,674		—		26,226
Interest income	72		—		9		81
Interest expense	—		299		17,058		17,357
Income tax (benefit) expense, continuing operations	5,266		(13,831)		2,620		(5,945)
Corporate overhead allocation	4,484		1,092		(5,576)		—

Restatement Adjustments
Net sales	40		—		—		40
Gross profit	(3,863)		—		—		(3,863)
Net (loss) income from continuing operations	(39)		(8,411)		6,701		(1,749)
Loss from discontinued operations, net of tax	—		(287)		—		(287)
Total assets	(1,320)		(1,783)		—		(3,103)
Depreciation and amortization	83		—		—		83
Interest expense	—		—		(1,806)		(1,806)
Income tax (benefit) expense, continuing operations	(3,824)		8,960		(4,849)		287







Year Ended May 29, 2022, As Restated
Net sales	$	109,360	$	76,466	$	—	$	185,826
Gross profit	39,883		6,624		—		46,507
Net income (loss) from continuing operations	16,636		(56,194)		(25,715)		(65,273)
Loss from discontinued operations, net of tax	—		(48,401)		(3,041)		(51,442)
Total assets	212,649		57,811		4,243		274,703
Depreciation and amortization	6,756		4,004		80		10,840
Capital expenditures	23,552		2,674		—		26,226
Interest income	72		—		9		81
Interest expense	—		299		15,252		15,551
Income tax (benefit) expense, continuing operations	1,442		(4,871)		(2,229)		(5,658)
Corporate overhead allocation	4,484		1,092		(5,576)		—


	Eat Smart - As of May 30, 2021
(in thousands)	As Reported		Restatement		As Restated
ASSETS
Cash and cash equivalents	$	136	$	—	$	136
Accounts receivable, less allowance for credit losses	28,583		—		28,583
Inventories	6,587		—		6,587
Prepaid expenses and other current assets	2,312		(515)		1,797
Total current assets, discontinued operations	37,618		(515)		37,103

Investment in non-public company, fair value	45,100		(45,100)		—
Property and equipment, net	59,273		—		59,273
Operating lease right-of-use assets	3,729		—		3,729
Goodwill	35,470		—		35,470
Trademarks/tradenames, net	8,228		—		8,228
Customer relationships, net	2,260		—		2,260
Other assets	80		—		80
Total other assets, discontinued operations	154,140		(45,100)		109,040
Total assets, discontinued operations	$	191,758	$	(45,615)	$	146,143

LIABILITIES
Accounts payable	31,271		—		31,271
Accrued compensation	4,550		—		4,550
Other accrued liabilities	4,041		350		4,391
Current portion of lease liabilities	2,289		—		2,289
Deferred revenue	493		(350)		143
Total current liabilities, discontinued operations	42,644		—		42,644

Long-term lease liabilities	3,252		—		3,252
Other non-current liabilities	729		—		729
Non-current liabilities, discontinued operations	3,981		—		3,981
Total liabilities, discontinued operations	$	46,625	$	—	$	46,625


	May 29, 2022
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Asset write-off costs	$	3,693	$	(566)	$	3,127	$	—	$	3,127
Employee severance and benefit costs	371		34		405		—		405
Lease costs	2,072		—		2,072		—		2,072
Other restructuring costs	2,825		(70)		2,755		—		2,755
Total restructuring costs	$	8,961	$	(602)	$	8,359	$	—	$	8,359


	May 29, 2022
	Curation		Other		Total
Total restructuring costs, As reported	6,425		2,536		8,961
Restatement adjustments	(602)		—		(602)
Total restructuring costs, As restated	$	5,823	$	2,536	$	8,359

As of and for the year ended May 30, 2021

The effects of the restatement on the consolidated balance sheet as of May 30, 2021 are summarized in the following table:


	May 30, 2021
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
ASSETS
Current Assets:
Cash and cash equivalents	$	1,159	$	—	$	1,159	$	(396)	$	763
Accounts receivable, net	41,430		(522)		40,908		(9,317)		31,591
Inventories	63,076		(1,053)		62,023		(28,093)		33,930
Prepaid expenses and other current assets	5,038		(930)		4,108		(2,606)		1,502
Current assets, discontinued operations	37,618		(515)		37,103		40,412		77,515
Total Current Assets	148,321		(3,020)		145,301		—		145,301

Investment in non-public company, fair value	—		44,769		44,769		—		44,769
Property and equipment, net	120,286		2,312		122,598		(15,467)		107,131
Operating lease right-of-use assets	17,098		—		17,098		(3,562)		13,536
Goodwill	33,916		—		33,916		(20,035)		13,881
Trademarks/tradenames, net	17,100		—		17,100		(12,900)		4,200
Customer relationships, net	8,532		—		8,532		(8,250)		282
Other assets	3,531		—		3,531		(113)		3,418
Non-current assets, discontinued operations	154,140		(45,100)		109,040		60,327		169,367
Total Assets	$	502,924	$	(1,039)	$	501,885	$	—	$	501,885

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities:
Accounts payable	$	16,298	$	—	$	16,298	$	(4,676)	$	11,622
Accrued compensation	7,754		—		7,754		(254)		7,500
Other accrued liabilities	3,955		314		4,269		(1,260)		3,009
Current portion of lease liabilities	1,600		—		1,600		(623)		977
Deferred revenue	637		(350)		287		—		287
Line of credit	29,000		—		29,000		—		29,000

Current liabilities, discontinued operations	42,644		—		42,644		6,813		49,457
Total Current Liabilities	101,888		(36)		101,852		—		101,852

Long-term debt, net	164,902		—		164,902		—		164,902
Long-term lease liabilities	20,359		—		20,359		(2,984)		17,375
Deferred taxes, net	6,140		(165)		5,975		—		5,975
Other non-current liabilities	2,870		—		2,870		—		2,870
Non-current liabilities, discontinued operations	3,981		—		3,981		2,984		6,965
Total Liabilities	300,140		(201)		299,939		—		299,939

Stockholders’ Equity:
Common stock, $0.001 par value; 50,000 shares authorized	29		—		29		—		29
Additional paid-in capital	165,533		—		165,533		—		165,533
Retained earnings (Accumulated deficit)	38,580		(838)		37,742		—		37,742
Accumulated other comprehensive loss	(1,358)		—		(1,358)		—		(1,358)
Total Stockholders’ Equity	202,784		(838)		201,946		—		201,946
Total Liabilities and Stockholders’ Equity	$	502,924	$	(1,039)	$	501,885	$	—	$	501,885

The effects of the restatement on the consolidated statement of operations and comprehensive income (loss) for the year ended May 30, 2021 are summarized in the following table:


	For the year ended May 30, 2021
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Product sales	$	171,546	$	492	$	172,038	$	(71,164)	$	100,874
Cost of product sales	121,075		1,025		122,100		(60,163)		61,937
Gross profit	50,471		(533)		49,938		(11,001)		38,937
Operating costs and expenses:
Research and development	7,423		—		7,423		(739)		6,684
Selling, general and administrative	37,660		457		38,117		(10,396)		27,721
Legal settlement charge	1,763		(1,763)		—		—		—
Restructuring costs	3,759		9,596		13,355		—		13,355
Total operating costs and expenses	50,605		8,290		58,895		(11,135)		47,760
Operating (loss) income	(134)		(8,823)		(8,957)		134		(8,823)


Interest income	48		—		48		—		48
Interest expense	(10,387)		1,454		(8,933)		—		(8,933)
Loss on debt refinancing	(1,110)		—		(1,110)		—		(1,110)
Other income (expense), net	111		(11,080)		(10,969)		—		(10,969)
Net (loss) income from continuing operations before taxes	(11,472)		(18,449)		(29,921)		134		(29,787)
Income tax benefit (provision)	1,903		4,899		6,802		(452)		6,350
Net (loss) income from continuing operations	(9,569)		(13,550)		(23,119)		(318)		(23,437)

Discontinued operations:
Loss from discontinued operations	(28,994)		18,839		(10,155)		(134)		(10,289)
Income tax benefit (provision)	5,898		(4,918)		980		452		1,432
Loss from discontinued operations, net of tax	(23,096)		13,921		(9,175)		318		(8,857)
Net (loss) income	$	(32,665)	$	371	$	(32,294)	$	—	$	(32,294)

Basic net loss per share:
Loss from continuing operations	$	(0.33)	$	(0.46)	$	(0.79)	$	(0.01)	$	(0.80)
Loss from discontinued operations	$	(0.79)	$	0.48	$	(0.31)	$	0.01	$	(0.30)
Total basic net loss per share	$	(1.12)	$	0.02	$	(1.10)	$	—	$	(1.10)

Diluted net loss per share:
Loss from continuing operations	$	(0.33)	$	(0.46)	$	(0.79)	$	(0.01)	$	(0.80)
Loss from discontinued operations	$	(0.79)	$	0.48	$	(0.31)	$	0.01	$	(0.30)
Total diluted net loss per share	$	(1.12)	$	0.02	$	(1.10)	$	—	$	(1.10)

Shares used in per share computation
Basic	29,294		—		29,294		—		29,294
Diluted	29,294		—		29,294		—		29,294

	For the year ended May 30, 2021


(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Net loss applicable to common shareholders	$	(32,665)	$	371	$	(32,294)	$	—	$	(32,294)
Other comprehensive (loss) income, net of tax:
Net unrealized gains on interest rate swaps (net of tax effect of $(455))	$	1,450	$	—	$	1,450	$	—	$	1,450
Other comprehensive income, net of tax	$	1,450	$	—	$	1,450	$	—	$	1,450
Total comprehensive (loss) income	$	(31,215)	$	371	$	(30,844)	$	—	$	(30,844)

The effects of the restatement on the consolidated statement of stockholders’ equity (deficit) for the year ended May 30, 2021 are summarized in the following table:


	Common Stock			Additional Paid-in Capital		Retained Earnings		Accumulated Other Comprehensive Loss		Total Stockholders’ Equity
	Shares	Amount
As Reported
Balance at May 31, 2020	29,224	$	29	$	162,578	$	71,245	$	(2,808)	$	231,044
Issuance of stock under stock plans, net of shares withheld	109	—		—		—		—		—

Taxes paid by Company for employee stock plans	—	—		(405)		—		—		(405)
Stock-based compensation	—	—		3,360		—		—		3,360
Net loss	—	—		—		(32,665)		—		(32,665)
Other comprehensive income, net of tax	—	—		—		—		1,450		1,450
Balance at May 30, 2021	29,333	$	29	$	165,533	$	38,580	$	(1,358)	$	202,784

Restatements Adjustments
Opening retained earnings	—	—		—		(1,209)		—		(1,209)
Net income	—	—		—		371		—		371

As Restated
Balance at May 31, 2020	29,224	$	29	$	162,578	$	70,036	$	(2,808)	$	229,835

Issuance of stock under stock plans, net of shares withheld	109	—		—		—		—		—
Taxes paid by Company for employee stock plans	—	—		(405)		—		—		(405)
Stock-based compensation	—	—		3,360		—		—		3,360
Net loss	—	—		—		(32,294)		—		(32,294)
Other comprehensive income, net of tax	—	—		—		—		1,450		1,450
Balance at May 30, 2021	29,333	$	29	$	165,533	$	37,742	$	(1,358)	$	201,946

The effects of the restatement on the consolidated statement of cash flows for the year ended May 30, 2021 are summarized in the following table:


	Year Ended May 30, 2021
	As Reported		Restatement Adjustment		As Restated
Cash flows from operating activities:
Net loss	$	(32,665)	$	371	$	(32,294)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation, amortization of intangibles, debt costs and right-of-use assets	19,867		—		19,867
Loss on debt extinguishment	1,110		—		1,110
Stock-based compensation expense	3,360		—		3,360
Provision for expected credit losses	418		522		940
Deferred taxes	(7,893)		19		(7,874)
Change in investment in non-public company, fair value	11,800		(331)		11,469
Net loss on disposal of property and equipment	61		—		61
Loss on disposal of property and equipment related to restructuring, net	10,143		—		10,143
Other, net	(74)		—		(74)
Changes in current assets and current liabilities:
Accounts receivable, net	5,775		—		5,775
Inventory	(3,352)		533		(2,819)
Prepaid expenses and other current assets	7,941		340		8,281
Accounts payable	(5,982)		—		(5,982)
Accrued compensation	3,270		—		3,270
Other accrued liabilities	460		350		810
Deferred revenue	778		(350)		428
Net cash provided by operating activities	15,017		1,454		16,471
Cash flows from investing activities:
Purchases of property and equipment	(23,769)		(1,454)		(25,223)
Proceeds from sales of property and equipment	12,913		—		12,913
Net cash used in investing activities	(10,856)		(1,454)		(12,310)
Cash flows from financing activities:
Taxes paid by Company for employee stock plans	(405)		—		(405)
Proceeds from long-term debt	170,000		—		170,000
Payments on long-term debt	(114,130)		—		(114,130)
Proceeds from line of credit	100,000		—		100,000
Payments on line of credit	(148,400)		—		(148,400)
Payments for debt issuance costs	(10,484)		—		(10,484)
Net cash used in financing activities	(3,419)		—		(3,419)
Net increase in cash, cash equivalents and restricted cash	742		—		742
Cash, cash equivalents and restricted cash, beginning of period	$	553	$	—	$	553
Cash, cash equivalents and restricted cash, end of period	$	1,295	$	—	$	1,295


	May 30, 2021
(in thousands)	Balance at beginning of period		Provision (benefit) for expected credit losses	Write offs, net of recoveries	Balance at end of period
Year ended May 30, 2021, As Reported	$	186	187	(288)	$	85
Restatement Adjustment	$	—	522	—	$	522
Year ended May 30, 2021, As Restated	$	186	709	(288)	$	607
Discontinued Operations	$	(186)	64	37	$	(85)
Year ended May 30, 2021, As Restated, after Discontinued Operations	$	—	773	(251)	$	522


	May 30, 2021
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Finished goods	$	40,204	$	3	$	40,207	$	(22,453)	$	17,754
Raw materials	16,644		(728)		15,916		(5,615)		10,301
Work in progress	6,228		(328)		5,900		(25)		5,875
Total inventories	$	63,076	$	(1,053)	$	62,023	$	(28,093)	$	33,930


	May 30, 2021
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Numerator:
Net (loss) income applicable to Common Stockholders	$	(32,665)	$	371	$	(32,294)	$	—	$	(32,294)

Denominator:
Weighted average shares for basic net income per share	29,294		—		29,294		—		29,294



Weighted average shares for diluted net income per share	29,294		—		29,294		—		29,294

Diluted net (loss) income per share	$	(1.12)	$	0.02	$	(1.10)	$	—	$	(1.10)


	Fair Value at May 30, 2021, As Reported
(in thousands)	Level 1		Level 2		Level 3
Assets:
Current assets, discontinued operations
Assets held for sale - nonrecurring	$	—	$	—	$	515
Other assets, discontinued operations
Investment in non-public company	—		—		45,100
Total assets	$	—	$	—	$	45,615

	Restatement Adjustments
Investment in non-public company	$	—	$	—	$	(331)

	Fair Value at May 30, 2021, As Restated
(in thousands)	Level 1		Level 2		Level 3
Assets:
Current assets, continuing operations (1)
Assets held for sale - nonrecurring, as restated	$	—	$	—	$	515
Other assets, continuing operations (1)
Investment in non-public company, as restated	—		—		44,769
Total assets	$	—	$	—	$	45,284

(1) The restatement adjustment also included a reclassification from discontinued operations to continuing operations.


	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Contact development and manufacturing organization	$	75,297	$	492	$	75,789	$	—	$	75,789
Fermentation	22,790		—		22,790		—		22,790
Other	—		—		—		—		—
Total	$	98,087	$	492	$	98,579	$	—	$	98,579

	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Avocado Products	$	63,575	$	—	$	63,575	$	(63,575)	$	—
Olive oil and vinegars	7,589		—		7,589		(7,589)		—
Technology	2,295		—		2,295		—		2,295
Total	$	73,459	$	—	$	73,459	$	(71,164)	$	2,295


	May 30, 2021
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Land	$	3,670	$	—	$	3,670	$	—	$	3,670
Buildings	47,880		—		47,880		(1,696)		46,184
Leasehold improvements	6,465		—		6,465		(2,410)		4,055
Computers, capitalized software, machinery, equipment and autos	71,832		—		71,832		(13,971)		57,861
Furniture and fixtures	2,513		—		2,513		(199)		2,314
Construction in process	31,383		2,312		33,695		(2,882)		30,813
Gross property and equipment	163,743		2,312		166,055		(21,158)		144,897
Less accumulated depreciation and amortization	(43,457)		—		(43,457)		5,691		(37,766)
Net property and equipment	$	120,286	$	2,312	$	122,598	$	(15,467)	$	107,131


	For the Year Ended May 30, 2021
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Current:
Federal	$	(38)	$	—	$	(38)	$	—	$	(38)
State	74		—		74		—		74
Foreign	56		—		56		—		56
	92		—		92		—		92

Deferred:
Federal	$	(1,536)	$	(4,899)	$	(6,435)	$	452	$	(5,983)
State	(459)		—		(459)		—		(459)
	(1,995)		(4,899)		(6,894)		452		(6,442)
Total provision for income taxes	(1,903)		(4,899)		(6,802)		452		(6,350)


	For the Year Ended May 30, 2021
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Tax at U.S. statutory rate	$	(2,409)	$	(4,245)	$	(6,654)	$	398	$	(6,256)
State income taxes, net of federal benefit	(304)		(580)		(884)		54		(830)

Change in valuation allowance	2,667		(70)		2,597		—		2,597
Tax credit carryforwards	(606)		—		(606)		—		(606)
Other compensation-related activity	249		—		249		—		249

Foreign rate differential	(1,414)		—		(1,414)		—		(1,414)
Other	(86)		(4)		(90)		—		(90)
Income tax expense	$	(1,903)	$	(4,899)	$	(6,802)	$	452	$	(6,350)


	As of May 30, 2021
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Deferred tax assets:
Accruals and reserves	$	3,366	$	256	$	3,622	$	—	$	3,622
Net operating loss carryforwards	21,916		167		22,083		—		22,083
Stock-based compensation	1,123		—		1,123		—		1,123
Research and AMT credit carryforwards	5,150		—		5,150		—		5,150
Lease Liability	5,902		—		5,902		—		5,902
Limitations on business interest expense	2,411		(303)		2,108		—		2,108

Other	927		13		940		—		940
Gross deferred tax assets	40,795		133		40,928		—		40,928
Valuation Allowance	(10,460)		32		(10,428)		—		(10,428)
Net deferred tax assets	30,335		165		30,500		—		30,500

Deferred tax liabilities:
Depreciation and amortization	(16,600)		—		(16,600)		—		(16,600)
Goodwill and other indefinite life intangibles	(13,406)		—		(13,406)		—		(13,406)
Basis difference in investment in non-public company	(1,382)		—		(1,382)		—		(1,382)
Right of use asset	(5,087)		—		(5,087)		—		(5,087)
Deferred tax liabilities	(36,475)		—		(36,475)		—		(36,475)

Net deferred tax liabilities	$	(6,140)	$	165	$	(5,975)	$	—	$	(5,975)


	As of May 30, 2021
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Unrecognized tax benefits – beginning of the period	$	827	$	9	$	836	$	—	$	836


Gross increases – current-period tax positions	115		7		122		—		122

Unrecognized tax benefits – end of the period	$	942	$	16	$	958	$	—	$	958


	As of May 30, 2021
(in thousands)	Lifecore		Curation Foods		Other		Total
Year Ended May 30, 2021, As Reported
Net sales	$	98,087	$	73,459	$	—	$	171,546
Gross profit	38,265		12,206		—		50,471
Net income (loss) from continuing operations	14,461		(357)		(23,673)		(9,569)
Loss from discontinued operations, net of tax	—		(23,096)		—		(23,096)
Total assets	185,417		121,069		4,680		311,166
Depreciation and amortization	5,502		2,972		97		8,571
Capital expenditures	16,222		3,042		—		19,264

Interest income	—		—		48		48
Interest expense	—		(545)		(9,842)		(10,387)
Income tax (benefit) expense, continuing operations	4,568		(3,020)		(3,451)		(1,903)
Corporate overhead allocation	4,773		946		(5,719)		—

Restatement Adjustments
Net sales	492		—		—		492
Gross profit	(533)		—		—		(533)
Net (loss) income from continuing operations	(573)		(16,816)		3,839		(13,550)
Loss from discontinued operations, net of tax	—		13,921		—		13,921
Total assets	737		(1,776)		—		(1,039)
Interest expense	—		—		(1,454)		(1,454)
Income tax (benefit) expense, continuing operations	(482)		(2,032)		(2,385)		(4,899)







Year Ended May 30, 2021, As Restated
Net sales	$	98,579	$	73,459	$	—	$	172,038
Gross profit	37,732		12,206		—		49,938
Net income (loss) from continuing operations	13,888		(17,173)		(19,834)		(23,119)
Loss from discontinued operations, net of tax	—		(9,175)		—		(9,175)
Total assets	186,154		119,293		4,680		310,127
Depreciation and amortization	5,502		2,972		97		8,571
Capital expenditures	16,222		3,042		—		19,264

Interest income	—		—		48		48
Interest expense	—		(545)		(8,388)		(8,933)
Income tax (benefit) expense, continuing operations	4,086		(5,052)		(5,836)		(6,802)
Corporate overhead allocation	4,773		946		(5,719)		—

Organization, Basis of Presentation, and Summary of Significant Accounting Policies - Inventories (Details) - USD ($) $ in Thousands	12 Months Ended
	May 28, 2023	May 29, 2022	Feb. 26, 2023	Nov. 27, 2022	Aug. 28, 2022	Feb. 27, 2022	Nov. 28, 2021	Aug. 29, 2021	May 30, 2021	Feb. 28, 2021	Nov. 29, 2020	Aug. 30, 2020
Inventory [Line Items]
Finished goods	$ 13,141	$ 13,397	$ 13,541	$ 15,659	$ 10,781	$ 13,403	$ 20,885	$ 19,044	$ 17,754	$ 12,651	$ 14,662	$ 12,906
Raw materials	17,351	15,488	18,651	15,477	16,261	17,413	14,739	14,342	10,301	11,009	10,118	9,640
Work in progress	10,349	7,115	9,850	7,284	9,112	3,942	4,091	3,483	5,875	7,781	7,624	6,363
Total inventories	40,841	36,000	$ 42,042	$ 38,420	$ 36,154	$ 34,758	$ 39,715	$ 36,869	$ 33,930	$ 31,441	$ 32,404	$ 28,909
Inventory write-down	4,900	4,600
Cost of sales
Inventory [Line Items]
Inventory write-down	$ 300	$ 3,500

Unaudited Quarterly Consolidated Financial Information - Allowance for Sales Returns and Credit Losses (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended			9 Months Ended			12 Months Ended
	Aug. 28, 2022	Aug. 29, 2021	Aug. 30, 2020	Nov. 27, 2022	Nov. 28, 2021	Nov. 29, 2020	Feb. 26, 2023	Feb. 27, 2022	Feb. 28, 2021	May 28, 2023	May 29, 2022	May 30, 2021
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 522	$ 522	$ 0	$ 522	$ 522	$ 0	$ 522	$ 522	$ 0	$ 522	$ 522	$ 0
Provision	0	0	0	0	0	0	200	0	0	163	0	773
Charge-offs	0	0	0	0	0	0	(200)	0	0	(200)	0	(251)
Ending Balance	522	522	0	522	522	0	522	522	0	485	522	522
Discontinued Operations
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	65	85	186	65	85	186	65	85	186	65	85	186
Provision	0	0		0	(14)						(14)	(64)
Charge-offs	0	0		0	0						(6)	(37)
Ending Balance	65	85		65	71						65	85
Discontinued Operations \| Before Discontinued Operations Restatement
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance			438			438			438			438
Provision			35			102
Charge-offs			(169)			(263)
Ending Balance			304			277
Discontinued Operations \| After Discontinued Operations Restatement
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	5	5	186	5	5	186	5	5	186	5	5	186
Provision							0	0	284
Charge-offs							(1)	0	(385)
Ending Balance							4	5	85		5	5
As Reported
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	65	85	186	65	85	186	65	85	186	65	85	186
Provision	0	0		0	(14)						(14)	187
Charge-offs	0	0		0	0						(6)	(288)
Ending Balance	65	85		65	71						65	85
As Reported \| Before Discontinued Operations Restatement
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance			438			438			438			438
Provision			35			102
Charge-offs			(169)			(263)
Ending Balance			304			277
As Reported \| After Discontinued Operations Restatement
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	5	5	186	5	5	186	5	5	186	5	5	186
Provision							0	0	284
Charge-offs							(1)	0	(385)
Ending Balance							4	5	85		5	5
Restatement
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	522	522	0	522	522	0	522	522	0	522	522	0
Provision	0	0		0	0						0	522
Charge-offs	0	0		0	0						0	0
Ending Balance	522	522		522	522						522	522
Restatement \| Before Discontinued Operations Restatement
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance			0			0			0			0
Provision						0
Charge-offs						0
Ending Balance						0
Restatement \| After Discontinued Operations Restatement
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	522	522		522	522		522	522		522	522
Provision							200	0
Charge-offs							(200)	0
Ending Balance							522	522			522	522
As Restated
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	587	607	186	587	607	186	587	607	186	587	607	186
Provision	0	0		0	(14)						(14)	709
Charge-offs	0	0		0	0						(6)	(288)
Ending Balance	587	607		587	593						587	607
As Restated \| Before Discontinued Operations Restatement
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance			438			438			438			438
Provision			35			102
Charge-offs			(169)			(263)
Ending Balance			304			277
As Restated \| After Discontinued Operations Restatement
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 527	$ 527	$ 186	$ 527	$ 527	$ 186	527	527	186	$ 527	527	186
Provision							200	0	284
Charge-offs							(201)	0	(385)
Ending Balance							$ 526	$ 527	$ 85		$ 527	$ 527

Correction of Errors in Previously Reported Fiscal Year 2022 and 2021 Annual Financial Statements - Provision for Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended									6 Months Ended	12 Months Ended
	Feb. 26, 2023	Nov. 27, 2022	Aug. 28, 2022	Feb. 27, 2022	Nov. 28, 2021	Aug. 29, 2021	Feb. 28, 2021	Nov. 29, 2020	Aug. 30, 2020	Nov. 27, 2022	May 28, 2023	May 29, 2022	May 30, 2021
Current:
Federal											$ (1)	$ 0	$ (38)
State											55	23	74
Foreign											0	356	56
Total											54	379	92
Deferred:
Federal											234	(4,936)	(5,983)
State											20	(654)	(459)
Total											254	(5,590)	(6,442)
Income tax provision (benefit)	$ 70	$ 4	$ 4	$ 3,389	$ (6,275)	$ (1,807)	$ (1,530)	$ (1,528)	$ (3,788)	$ 8	$ 308	(5,211)	(6,350)
Discontinued Operations
Current:
Federal													0
State												0	0
Foreign												0	0
Total												0	0
Deferred:
Federal												(447)	(452)
State												0	0
Total												(447)	(452)
Income tax provision (benefit)	$ 0	$ 0	$ 0	$ (1,462)	$ 1,043	$ 289				$ 0		(447)	(452)
As Reported
Current:
Federal													(38)
State												23	74
Foreign												356	56
Total												379	92
Deferred:
Federal												(5,670)	(1,536)
State												(654)	(459)
Total												(6,324)	(1,995)
Income tax provision (benefit)												(5,945)	(1,903)
Restatement
Current:
Federal													0
State												0	0
Foreign												0	0
Total												0	0
Deferred:
Federal												287	(4,899)
State												0	0
Total												287	(4,899)
Income tax provision (benefit)												287	(4,899)
As Restated
Current:
Federal													(38)
State												23	74
Foreign												356	56
Total												379	92
Deferred:
Federal												(5,383)	(6,435)
State												(654)	(459)
Total												(6,037)	(6,894)
Income tax provision (benefit)												$ (5,658)	$ (6,802)

Stock-based Compensation and Stockholders’ Equity - Stock-based Compensation Activity (Details) - Restricted Stock - $ / shares	12 Months Ended
	May 28, 2023	May 29, 2022	May 30, 2021
Restricted Stock Units Outstanding
Beginning balance (in shares)	294,599	480,396	469,548
Granted (in shares)	336,186	105,858	188,225
Vested (in shares)	(214,494)	(228,568)	(146,197)
Forfeited (in shares)	(79,500)	(63,087)	(31,180)
Ending balance (in shares)	336,791	294,599	480,396
Weighted-Average Grant Date Fair Value Per Share
Beginning balance (in dollars per share)	$ 10.55	$ 10.71	$ 11.24
Granted (in dollars per share)	9.59	11.98	10.13
Exercised (in dollars per share)	10.79	11.41	11.69
Forfeited (in dollars per share)	9.43	10.70	10.60
Ending balance (in dollars per share)	$ 9.70	$ 10.55	$ 10.71

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended									6 Months Ended			9 Months Ended			12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Feb. 26, 2023	Nov. 27, 2022	Aug. 28, 2022	Feb. 27, 2022	Nov. 28, 2021	Aug. 29, 2021	Feb. 28, 2021	Nov. 29, 2020	Aug. 30, 2020	Nov. 27, 2022	Nov. 28, 2021	Nov. 29, 2020	Feb. 26, 2023	Feb. 27, 2022	Feb. 28, 2021	May 28, 2023	May 29, 2022	May 30, 2021
Pay vs Performance Disclosure
Net loss	$ (36,507)	$ (12,806)	$ (10,966)	$ (13,586)	$ (38,471)	$ (9,387)	$ (6,978)	$ (11,623)	$ (12,410)	$ (23,772)	$ (47,858)	$ (24,033)	$ (60,279)	$ (61,444)	$ (31,011)	$ (99,563)	$ (116,715)	$ (32,294)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Organization, Basis of Presentation, and Summary of Significant Accounting Policies - Securities Purchase Agreement (Details) - Private Placement $ / shares in Units, $ in Millions	Nov. 25, 2022 USD ($) $ / shares shares
Subsidiary, Sale of Stock [Line Items]
Number of shares issued in transaction (in shares) \| shares	627,746
Consideration received on transaction \| $	$ 5.0
Sale of stock price (usd per share) \| $ / shares	$ 7.97

Subsequent Events (Details)						1 Months Ended
Subsequent Events (Details)	Feb. 22, 2024 USD ($)	Dec. 11, 2023 USD ($)	Nov. 01, 2023 USD ($)	Sep. 28, 2023 USD ($)	Sep. 19, 2023 USD ($)	Feb. 29, 2024 USD ($)	Jan. 12, 2024 USD ($)	Dec. 31, 2023 person	Apr. 06, 2023 USD ($)
Discontinued Operations, Disposed of by Sale \| O Olive Oil and Vinegar Business
Subsequent Event [Line Items]
Financing receivable									$ 3,100,000
Subsequent Event
Subsequent Event [Line Items]
Proceeds from legal settlement					$ 1,850,000
Proceeds from note receivable						$ 900,000
Credit guarantee agreement, support personnel threshold (more than) \| person								20
Proceeds from working capital deposit			$ 5,000,000
Subsequent Event \| Landlord Complaint, Past Due Rent, One
Subsequent Event [Line Items]
Loss contingency, minimum amount of damages							$ 200,000
Subsequent Event \| Landlord Complaint, Past Due Rent, Two
Subsequent Event [Line Items]
Loss contingency, minimum amount of damages							$ 100,000
Subsequent Event \| Discontinued Operations, Disposed of by Sale \| O Olive Oil and Vinegar Business
Subsequent Event [Line Items]
Proceeds from note receivable	$ 18,000	$ 300,000		$ 2,400,000

Discontinued Operations (Tables)

12 Months Ended

May 28, 2023

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations

The key components of loss from discontinued operations for the fiscal years ended May 28, 2023, May 29, 2022, and May 30, 2021 were as follows (in thousands):


	Year Ended
	May 28, 2023		May 29, 2022		May 30, 2021
			As Restated		As Restated
Product sales	$	49,988	$	261,311	$	443,779
Cost of product sales	51,175		248,670		401,775
Gross profit	(1,187)		12,641		42,004
Operating costs and expenses:
Research and development	220		2,441		3,538
Selling, general and administrative	10,143		24,423		38,100
Impairment of goodwill and long-lived and indefinite-lived assets	1,300		78,146		—
Legal settlement charge	407		—		1,763
Loss on Sale of Eat Smart	—		336		—
Loss on Sale of Yucatan	20,663		—		—
Loss on Sale of O Olive	319		—		—
Gain on Sale of BreatheWay	—		—		—
Restructuring costs	1,255		6,542		3,935
Total operating costs and expenses	34,307		111,888		47,336
Operating loss	(35,494)		(99,247)		(5,332)
Dividend income	—		—		—

Interest expenses	—		(2,682)		(4,957)
Other expense, net	167		—		—
Loss from discontinued operations before taxes	(35,327)		(101,929)		(10,289)
Income tax benefit	—		690		1,432
Loss from discontinued operations, net of tax	$	(35,327)	$	(101,239)	$	(8,857)

The carrying amounts of the major classes of assets and liabilities of O Olive and Yucatan businesses included in assets and liabilities of discontinued operations are as follows (in thousands):


	May 29, 2022
	As Restated
ASSETS

Cash and cash equivalents	$	652
Accounts receivable, less allowance for credit losses	9,336
Inventories	26,012
Prepaid expenses and other current assets	3,310
Total current assets, discontinued operations	39,310


Property and equipment, net	3,896
Operating lease right-of-use assets	2,933

Trademarks/tradenames, net	4,500
Customer relationships, net	1,400
Other assets	113
Total other assets, discontinued operations	12,842
Total assets, discontinued operations	$	52,152

LIABILITIES

Accounts payable	$	2,850
Accrued compensation	297
Other accrued liabilities	939
Current portion of lease liabilities	658


Total current liabilities, discontinued operations	4,744
Long-term lease liabilities	2,325


Non-current liabilities, discontinued operations	2,325
Total liabilities, discontinued operations	$	7,069

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-SubTopic 10
-Topic 360
-Publisher FASB
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Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
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-SubTopic 20
-Name Accounting Standards Codification
-Section 45
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-Publisher FASB
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Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
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Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org//1943274/2147483499/205-20-50-4B

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
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Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 360
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Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483499/205-20-50-3

+ Details

Unaudited Quarterly Consolidated Financial Information (Tables)

12 Months Ended

May 28, 2023

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Information

The following is a summary of the unaudited quarterly results of operations for fiscal years 2023 and 2022 (in thousands, except for per share amounts).


	As restated		As restated		As restated
Fiscal Year 2023	1st Quarter		2nd Quarter		3rd Quarter		4th Quarter		Annual
Product sales	$	23,724	$	21,864	$	26,536	$	31,145	$	103,269
Gross profit	5,979		5,679		8,548		7,779		27,985
Net loss from continuing operations	(6,707)		(9,201)		(11,330)		(36,998)		(64,236)
Net loss from discontinued operations	(4,259)		(3,605)		(25,177)		(2,286)		(35,327)
Net loss per basic and diluted share from continuing operations	$	(0.23)	$	(0.31)	$	(0.37)	$	(1.23)	$	(2.14)
Net loss per basic and diluted share from discontinued operations	$	(0.14)	$	(0.12)	$	(0.83)	$	(0.09)	$	(1.18)
Total net loss per basic and diluted share	$	(0.37)	$	(0.43)	$	(1.20)	$	(1.32)	$	(3.32)


	As restated		As restated		As restated				As restated
Fiscal Year 2022	1st Quarter		2nd Quarter		3rd Quarter		4th Quarter		Annual
Product sales	$	22,330	$	25,601	$	35,232	$	28,107	$	111,270
Gross profit	5,545		11,458		11,639		10,424		39,066
Net loss from continuing operations	(8,473)		7,547		(10,920)		(3,630)		(15,476)
Net loss from discontinued operations	(914)		(46,018)		(2,666)		(51,641)		(101,239)
Net loss per basic and diluted share from continuing operations	$	(0.29)	$	0.25	$	(0.37)	$	(0.12)	$	(0.53)
Net loss per basic and diluted share from discontinued operations	$	(0.03)	$	(1.56)	$	(0.09)	$	(1.76)	$	(3.44)
Total net loss per basic and diluted share	$	(0.32)	$	(1.31)	$	(0.46)	$	(1.88)	$	(3.97)

Description of Quarterly Restatement Tables

As of and for the three and nine months ended February 26, 2023

The effects of the restatement on the consolidated balance sheet as of February 26, 2023 are summarized in the following table:


	February 26, 2023
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
ASSETS
Current Assets:
Cash and cash equivalents	$	2,950	$	—	$	2,950	$	—	$	2,950
Accounts receivable, net	32,371		(671)		31,700		(726)		30,974
Inventories	48,696		(3,437)		45,259		(3,217)		42,042
Prepaid expenses and other current assets	4,422		(1,205)		3,217		(1,744)		1,473
Current assets, discontinued operations	—		—		—		5,687		5,687
Total Current Assets	88,439		(5,313)		83,126		—		83,126

Property and equipment, net	120,799		5,933		126,732		(406)		126,326
Operating lease right-of-use assets	5,924		(117)		5,807		(707)		5,100
Goodwill	13,881		—		13,881		—		13,881
Trademarks/tradenames, net	4,400		—		4,400		(200)		4,200
Other non-current assets	2,710		—		2,710		(11)		2,699
Non-current assets, discontinued operations	—		—		—		1,324		1,324
Total Assets	$	236,153	$	503	$	236,656	$	—	$	236,656

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities:
Accounts payable	$	14,762	$	(79)	$	14,683	$	(26)	$	14,657
Accrued compensation	6,733		—		6,733		—		6,733
Other accrued liabilities	12,012		(193)		11,819		(193)		11,626
Current portion of lease liabilities	1,455		—		1,455		(239)		1,216
Deferred revenue	2,711		—		2,711		—		2,711
Current liabilities, discontinued operations	—		—		—		458		458
Total Current Liabilities	37,673		(272)		37,401		—		37,401

Line of credit	16,000		—		16,000		—		16,000
Long-term debt, net	98,964		(64)		98,900		—		98,900
Long-term lease liabilities	10,516		—		10,516		(518)		9,998
Deferred taxes, net	80		—		80		—		80
Other non-current liabilities	203		—		203		—		203
Non-current liabilities, discontinued operations	—		—		—		518		518
Total Liabilities	163,436		(336)		163,100		—		163,100

Convertible Preferred Stock	$	38,510	$	25	$	38,535	$	—	$	38,535

Stockholders’ Equity:
Common stock	30		—		30		—		30
Additional paid-in capital	174,268		(25)		174,243		—		174,243
(Accumulated deficit) Retained earnings	(140,091)		839		(139,252)		—		(139,252)

Total Stockholders’ Equity	34,207		814		35,021		—		35,021
Total Liabilities and Stockholders’ Equity	$	236,153	$	503	$	236,656	$	—	$	236,656

The effects of the restatement on the consolidated statement of operations and comprehensive income (loss) for the three months February 26, 2023 are summarized in the following table:


	Three Months Ended February 26, 2023
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Product sales	$	27,600	$	206	$	27,806	$	(1,270)	$	26,536
Cost of product sales	21,622		(2,263)		19,359		(1,371)		17,988
Gross profit	5,978		2,469		8,447		101		8,548
Operating costs and expenses:
Research and development	1,964		276		2,240		(6)		2,234
Selling, general and administrative	10,972		(53)		10,919		(640)		10,279


Restructuring costs	2,741		(175)		2,566		—		2,566
Total operating costs and expenses	15,677		48		15,725		(646)		15,079
Operating (loss) income	(9,699)		2,421		(7,278)		747		(6,531)


Interest income	22		—		22		—		22
Interest expense	(5,818)		963		(4,855)		—		(4,855)
Transition services income	70		8		78		—		78
Other income (expense)	34		(8)		26		—		26
Net (loss) income from continuing operations before taxes	(15,391)		3,384		(12,007)		747		(11,260)
Income tax expense	(70)		—		(70)		—		(70)
Net (loss) income from continuing operations	(15,461)		3,384		(12,077)		747		(11,330)

Discontinued operations:
(Loss) gain from discontinued operations	(24,731)		301		(24,430)		(747)		(25,177)

(Loss) gain from discontinued operations, net of tax	(24,731)		301		(24,430)		(747)		(25,177)
Consolidated net (loss) income	$	(40,192)	$	3,685	$	(36,507)	$	—	$	(36,507)



Basic net (loss) income per share:
(Loss) income from continuing operations	$	(0.51)	$	0.12	$	(0.39)	$	0.02	$	(0.37)
(Loss) income from discontinued operations	$	(0.82)	$	0.01	$	(0.81)	$	(0.02)	$	(0.83)
Total basic net (loss) income per share	$	(1.33)	$	0.13	$	(1.20)	$	—	$	(1.20)

Diluted net (loss) income per share:
(Loss) income from continuing operations	$	(0.51)	$	0.12	$	(0.39)	$	0.02	$	(0.37)
(Loss) income from discontinued operations	$	(0.82)	$	0.01	$	(0.81)	$	(0.02)	$	(0.83)
Total diluted net (loss) income per share	$	(1.33)	$	0.13	$	(1.20)	$	—	$	(1.20)

Shares used in per share computation
Basic	30,304		—		30,304		—		30,304
Diluted	30,304		—		30,304		—		30,304



	Three Months Ended February 26, 2023
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Net (loss) income	$	(40,192)	$	3,685	$	(36,507)	$	—	$	(36,507)



Total comprehensive (loss) income	$	(40,192)	$	3,685	$	(36,507)	$	—	$	(36,507)

The effects of the restatement on the consolidated statement of operations and comprehensive income (loss) for the nine months February 26, 2023 are summarized in the following table:


	Nine Months Ended February 26, 2023
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Product sales	$	77,748	$	400	$	78,148	$	(6,025)	$	72,123
Cost of product sales	58,178		(905)		57,273		(5,356)		51,917
Gross profit	19,570		1,305		20,875		(669)		20,206
Operating costs and expenses:
Research and development	6,128		525		6,653		(32)		6,621
Selling, general and administrative	31,201		(2,417)		28,784		(2,109)		26,675
Impairment of indefinite-lived intangible assets	300		—		300		(300)		—
Gain on sale of BreatheWay	(2,108)		—		(2,108)		—		(2,108)

Restructuring costs	4,611		(435)		4,176		—		4,176
Total operating costs and expenses	40,132		(2,327)		37,805		(2,441)		35,364
Operating (loss) income	(20,562)		3,632		(16,930)		1,772		(15,158)


Interest income	53		—		53		—		53
Interest expense	(13,715)		1,990		(11,725)		—		(11,725)
Transition services income	70		76		146		—		146
Other (expense) income	(481)		5		(476)		—		(476)
Net (loss) income from continuing operations before taxes	(34,635)		5,703		(28,932)		1,772		(27,160)
Income tax expense	(78)		—		(78)		—		(78)
Net (loss) income from continuing operations	(34,713)		5,703		(29,010)		1,772		(27,238)

Discontinued operations:
(Loss) income from discontinued operations	(29,279)		(1,990)		(31,269)		(1,772)		(33,041)

(Loss) income from discontinued operations, net of tax	(29,279)		(1,990)		(31,269)		(1,772)		(33,041)
Consolidated net (loss) income	$	(63,992)	$	3,713	$	(60,279)	$	—	$	(60,279)



Basic net (loss) income per share:
(Loss) income from continuing operations	$	(1.16)	$	0.19	$	(0.97)	$	0.06	$	(0.91)
Loss from discontinued operations	$	(0.98)	$	(0.07)	$	(1.05)	$	(0.06)	$	(1.11)
Total basic net (loss) income per share	$	(2.14)	$	0.12	$	(2.02)	$	—	$	(2.02)

Diluted net (loss) income per share:


(Loss) income from continuing operations	$	(1.16)	$	0.19	$	(0.97)	$	0.06	$	(0.91)
Loss from discontinued operations	$	(0.98)	$	(0.07)	$	(1.05)	$	(0.06)	$	(1.11)
Total diluted net (loss) income per share	$	(2.14)	$	0.12	$	(2.02)	$	—	$	(2.02)

Shares used in per share computation
Basic	29,838		—		29,838		—		29,838
Diluted	29,838		—		29,838		—		29,838

	Nine Months Ended February 26, 2023
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations

Net (loss) income	$	(63,992)	$	3,713	$	(60,279)	$	—	$	(60,279)
Other comprehensive (loss) income, net of tax:
Net unrealized gains on interest rate swaps, net of tax	586		—		586		—		586
Other comprehensive income, net of tax	586		—		586		—		586
Total comprehensive (loss) income	$	(63,406)	$	3,713	$	(59,693)	$	—	$	(59,693)


	Convertible Preferred Stock			Common Stock			Additional Paid-in Capital		Retained Earnings (Accumulated Deficit)		Accumulated Other Comprehensive Loss		Total Stockholders’ Equity
	Shares	Amount		Shares	Amount
As Reported
Balance at May 29, 2022	—	$	—	29,513	$	30	$	167,352	$	(76,099)	$	(586)	$	90,697
Issuance of stock under stock plans, net of shares withheld	—	—		80	—		—		—		—		—
Taxes paid by Company for employee stock plans	—	—		—	—		(67)		—		—		(67)
Stock-based compensation	—	—		—	—		785		—		—		785
Net loss	—	—		—	—		—		(11,351)		—		(11,351)
Other comprehensive income, net of tax	—	—		—	—		—		—		300		300
Balance at August 28, 2022	—	$	—	29,593	$	30	$	168,070	$	(87,450)	$	(286)	$	80,364
Issuance of stock under stock plans, net of shares withheld	—	—		76	—		—		—		—		—
Taxes paid by Company for employee stock plans	—	—		—	—		(142)		—		—		(142)
Stock-based compensation	—	—		—	—		1,108		—		—		1,108
Net loss	—	—		—	—		—		(12,449)		—		(12,449)
Other comprehensive income, net of tax	—	—		—	—		—		—		286		286
Issuance of shares to Wynnefield Capital, Inc., net of issuance costs	—	—		628	—		5,000		—		—		5,000
Balance at November 27, 2022	—	$	—	30,297	$	30	$	174,036	$	(99,899)	$	—	$	74,167
Issuance of stock under stock plans, net of shares withheld	—	—		22	—		—		—		—		—


Proceeds of Convertible Preferred Stock, net of issuance costs	39	38,082		—	—		—		—		—		—
Convertible Preferred Stock PIK dividend	—	428		—	—		(428)		—		—		(428)
Cost of issuance of shares to Wynnefield Capital, Inc.	—	—		—	—		(178)		—		—		(178)
Taxes paid by Company for employee stock plans	—	—		—	—		(65)		—		—		(65)
Stock-based compensation	—	—		—	—		903		—		—		903
Net loss	—	—		—	—		—		(40,192)		—		(40,192)

Balance at February 26, 2023	39	$	38,510	30,319	$	30	$	174,268	$	(140,091)	$	—	$	34,207

Restatements Adjustments
Opening retained earnings (at May 29, 2022)	—	—		—	—		—		(2,874)		—		(2,874)
Net income at August 28, 2022	—	—		—	—		—		385		—		385
Opening retained earnings (at August 28, 2022)	—	—		—	—		—		(2,489)		—		(2,489)
Cost of issuance of shares to Wynnefield Capital, Inc.	—	—		—	—		(178)		—		—		(178)
Net loss at November 27, 2022	—	—		—	—		—		(357)		—		(357)
Opening retained earnings	—	—		—	—		—		(2,846)		—		(2,846)
Q3 Accretion of Preferred Stock Issue costs	—	25		—	—		(25)		—		—		(25)
Net income at February 26, 2023	—	—		—	—		—		3,685		—		3,685

As Restated
Balance at May 29, 2022	—	$	—	29,513	$	30	$	167,352	$	(78,973)	$	(586)	$	87,823

Issuance of stock under stock plans, net of shares withheld	—	—		80	—		—		—		—		—
Taxes paid by Company for employee stock plans	—	—		—	—		(67)		—		—		(67)
Stock-based compensation	—	—		—	—		785		—		—		785
Net loss	—	—		—	—		—		(10,966)		—		(10,966)
Other comprehensive income, net of tax	—	—		—	—		—		—		300		300
Balance at August 28, 2022	—	$	—	29,593	$	30	$	168,070	$	(89,939)	$	(286)	$	77,875

Issuance of stock under stock plans, net of shares withheld	—	—		76	—		—		—		—		—
Taxes paid by Company for employee stock plans	—	—		—	—		(142)		—		—		(142)
Stock-based compensation	—	—		—	—		1,108		—		—		1,108
Net loss	—	—		—	—		—		(12,806)		—		(12,806)
Other comprehensive income, net of tax	—	—		—	—		—		—		286		286
Issuance of shares to Wynnefield Capital, Inc., net of issuance costs	—	—		628	—		4,822		—		—		4,822
Balance at November 27, 2022	—	$	—	30,297	$	30	$	173,858	$	(102,745)	$	—	$	71,143

Issuance of stock under stock plans, net of shares withheld	—	—		22	—		—		—		—		—


Proceeds of Convertible Preferred Stock, net of issuance costs	39	38,082		—	—		—		—		—		—
Accretion of Convertible Preferred Stock	—	25		—	—		(25)		—		—		(25)
Convertible Preferred Stock PIK dividend	—	428		—	—		(428)		—		—		(428)
Taxes paid by Company for employee stock plans	—	—		—	—		(65)		—		—		(65)
Stock-based compensation	—	—		—	—		903		—		—		903
Net loss	—	—		—	—		—		(36,507)		—		(36,507)

Balance at February 26, 2023	39	$	38,535	30,319	$	30	$	174,243	$	(139,252)	$	—	$	35,021

The effects of the restatement on the consolidated statement of cash flows for the nine months ended February 26, 2023 are summarized in the following table:


	Nine Months Ended February 26, 2023
	As Reported		Restatement Adjustment		As Restated
Cash flows from operating activities:
Net (loss) income	$	(63,992)	$	3,713	$	(60,279)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Impairment of indefinite-lived intangible assets and goodwill	300		—		300
Depreciation, amortization of intangibles, debt costs and right-of-use assets	10,392		115		10,507

Gain on sale of BreatheWay	(2,108)		—		(2,108)
Stock-based compensation expense	2,796		—		2,796
Deferred taxes	57		—		57
Provision for expected credit losses	—		200		200




Loss (gain) on sale of Yucatan	21,039		(376)		20,663
Other, net	101		—		101
Changes in current assets and current liabilities:
Accounts receivable, net	8,994		(51)		8,943
Inventories	(13,451)		(1,396)		(14,847)
Prepaid expenses and other current assets	(1,169)		(140)		(1,309)
Accounts payable	11,405		(75)		11,330
Accrued compensation	(1,895)		—		(1,895)
Other accrued liabilities	8,570		—		8,570
Deferred revenue	1,792		—		1,792
Net cash (used in) provided by operating activities	(17,169)		1,990		(15,179)

Cash flows from investing activities:
Purchases of property and equipment	(12,319)		(1,990)		(14,309)

Proceeds from the sale of BreatheWay, net	3,135		—		3,135

Proceeds from the sale of Yucatan, net	12,531		—		12,531



Net cash provided by (used in) investing activities	3,347		(1,990)		1,357

Cash flows from financing activities:
Proceeds from sale of common stock, net of issuance costs	4,822		—		4,822
Proceeds from long-term debt	3,367		—		3,367
Payments on long-term debt	(3,199)		—		(3,199)
Proceeds from line of credit	18,400		—		18,400
Payments on line of credit	(42,400)		—		(42,400)
Taxes paid for employee stock plans	(274)		—		(274)
Payments for debt issuance costs	(3,669)		—		(3,669)
Proceeds from sale of preferred stock, net of issuance costs	38,082		—		38,082
Net cash provided by financing activities	15,129		—		15,129

Net increase in cash and cash equivalents	1,307		—		1,307
Cash and cash equivalents, beginning of period	1,643		—		1,643
Cash and cash equivalents, end of period	$	2,950	$	—	$	2,950

Supplemental disclosure of non-cash investing and financing activities:
Purchases of property and equipment on trade vendor credit	$	3,918	$	—	$	3,918
Convertible Preferred Stock PIK dividend	$	(428)	$	—	$	(428)


	February 26, 2023
(in thousands)	Balance at beginning of period		Provision (benefit) for expected credit losses	Write offs, net of recoveries	Balance at end of period
Nine months ended February 26, 2023, As Reported	$	5	—	(1)	$	4
Restatement Adjustment	$	522	200	(200)	$	522
Nine months ended February 26, 2023, As Restated	$	527	200	(201)	$	526
Discontinued Operations	$	(5)	—	1	$	(4)
Nine months ended February 26, 2023, As Restated, after Discontinued Operations	$	522	200	(200)	$	522

The effects of this error on our previously reported inventories as of February 26, 2023 as presented in the Company’s Quarterly Report on Form 10-Q Note 1, are as follows:


	February 26, 2023
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Finished goods	$	14,636	$	189	$	14,825	$	(1,284)	$	13,541
Raw materials	22,554		(1,970)		20,584		(1,933)		18,651
Work in progress	11,506		(1,656)		9,850		—		9,850
Total inventories	$	48,696	$	(3,437)	$	45,259	$	(3,217)	$	42,042


	Three Months Ended February 26, 2023
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Numerator:
Net (loss) income applicable to Common Stockholders	$	(40,192)	$	3,685	$	(36,507)	$	—	$	(36,507)

Denominator:
Weighted average shares for basic net income per share	30,304		—		30,304		—		30,304



Weighted average shares for diluted net income per share	30,304		—		30,304		—		30,304

Diluted net (loss) income per share	$	(1.33)	$	0.13	$	(1.20)	$	—	$	(1.20)


	Nine Months Ended February 26, 2023
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Numerator:
Net (loss) income applicable to Common Stockholders	$	(63,992)	$	3,713	$	(60,279)	$	—	$	(60,279)

Denominator:
Weighted average shares for basic net income per share	29,838		—		29,838		—		29,838



Weighted average shares for diluted net income per share	29,838		—		29,838		—		29,838

Diluted net (loss) income per share	$	(2.14)	$	0.12	$	(2.02)	$	—	$	(2.02)


	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Contact development and manufacturing organization	$	17,809	$	206	$	18,015	$	—	$	18,015
Fermentation	8,521		—		8,521		—		8,521
Total	$	26,330	$	206	$	26,536	$	—	$	26,536

	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Olive oil and vinegars	$	1,270	$	—	$	1,270	$	(1,270)	$	—

Total	$	1,270	$	—	$	1,270	$	(1,270)	$	—


	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Contact development and manufacturing organization	$	52,088	$	400	$	52,488	$	—	$	52,488
Fermentation	19,635		—		19,635		—		19,635
Total	$	71,723	$	400	$	72,123	$	—	$	72,123

	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Olive oil and vinegars	$	6,025	$	—	$	6,025	$	(6,025)	$	—

Total	$	6,025	$	—	$	6,025	$	(6,025)	$	—


	Three Months Ended February 26, 2023
(in thousands)	Lifecore		Curation Foods		Other		Total
Three Months Ended February 26, 2023, As Reported
Net sales	$	26,330	$	1,270	$	—	$	27,600
Gross profit	6,072		(94)		—		5,978
Net income (loss) from continuing operations	851		280		(16,592)		(15,461)
Loss from discontinued operations, net of tax	—		(22,802)		(1,929)		(24,731)
Depreciation and amortization	1,878		243		10		2,131
Interest income	16		—		6		22
Interest expense	—		—		5,818		5,818
Income tax (benefit) expense, continuing operations	268		(3,019)		2,821		70
Corporate overhead allocation	739		241		(980)		—

Restatement Adjustments
Net sales	206		—		—		206
Gross profit	2,469		—		—		2,469
Net income from continuing operations	2,557		(2,882)		3,709		3,384
Loss from discontinued operations, net of tax	—		301		—		301
Depreciation and amortization	31		—		—		31
Interest expense	—		—		(963)		(963)
Income tax (benefit) expense, continuing operations	(288)		3,034		(2,746)		—







Three Months Ended February 26, 2023, As Restated
Net sales	$	26,536	$	1,270	$	—	$	27,806
Gross profit	8,541		(94)		—		8,447
Net income (loss) from continuing operations	3,408		(2,602)		(12,883)		(12,077)
Loss from discontinued operations, net of tax	—		(22,501)		(1,929)		(24,430)
Depreciation and amortization	1,909		243		10		2,162
Interest income	16		—		6		22
Interest expense	—		—		4,855		4,855
Income tax (benefit) expense, continuing operations	(20)		15		75		70
Corporate overhead allocation	739		241		(980)		—


	Nine Months Ended February 26, 2023
(in thousands)	Lifecore		Curation Foods		Other		Total
Nine Months Ended February 26, 2023, As Reported
Net sales	$	71,723	$	6,025	$	—	$	77,748
Gross profit	18,847		723		—		19,570
Net income (loss) from continuing operations	2,269		(1,974)		(35,008)		(34,713)
Loss from discontinued operations, net of tax	—		(27,350)		(1,929)		(29,279)
Depreciation and amortization	5,492		2,637		31		8,160
Interest income	47		—		6		53
Interest expense	—		1		13,714		13,715
Income tax expense (benefit), continuing operations	717		(4,135)		3,496		78
Corporate overhead allocation	2,799		858		(3,657)		—

Restatement Adjustments
Net sales	400		—		—		400
Gross profit	1,355		(50)		—		1,305
Net income (loss) from continuing operations	1,883		(1,587)		5,407		5,703
Loss from discontinued operations, net of tax	—		(1,990)		—		(1,990)
Depreciation and amortization	92		—		—		92
Interest expense	—		—		(1,990)		(1,990)
Income tax (benefit) expense, continuing operations	(728)		4,145		(3,417)		—







Nine Months Ended February 26, 2023, As Restated
Net sales	$	72,123	$	6,025	$	—	$	78,148
Gross profit	20,202		673		—		20,875
Net income (loss) from continuing operations	4,152		(3,561)		(29,601)		(29,010)
Loss from discontinued operations, net of tax	—		(29,340)		(1,929)		(31,269)
Depreciation and amortization	5,584		2,637		31		8,252
Interest income	47		—		6		53
Interest expense	—		1		11,724		11,725
Income tax (benefit) expense, continuing operations	(11)		10		79		78
Corporate overhead allocation	2,799		858		(3,657)		—

The effects of this error on our previously reported discontinued operations as of February 26, 2023 as presented in the Company’s Quarterly Report on Form 10-Q Note 9, are as follows:


	Yucatan Foods - As of May 29, 2022
(in thousands)	As Reported		Restatement		As Restated
ASSETS
Cash and cash equivalents	$	652	$	—	$	652
Accounts receivable, less allowance for credit losses	8,078		—		8,078
Inventories	22,545		(120)		22,425
Prepaid expenses and other current assets	1,869		(498)		1,371
Total current assets, discontinued operations	33,144		(618)		32,526
Property and equipment, net	3,500		—		3,500
Operating lease right-of-use assets	2,061		—		2,061
Trademarks/tradenames, net	4,000		—		4,000
Customer relationships, net	1,400		—		1,400
Other assets	102		—		102
Total other assets, discontinued operations	11,063		—		11,063
Total assets, discontinued operations	$	44,207	$	(618)	$	43,589

LIABILITIES
Accounts payable	$	2,814	$	—	$	2,814
Accrued compensation	297		—		297
Other accrued liabilities	800		(36)		764
Current portion of lease liabilities	434		—		434
Total current liabilities, discontinued operations	4,345		(36)		4,309
Long-term lease liabilities	1,627		—		1,627
Non-current liabilities, discontinued operations	1,627		—		1,627
Total liabilities, discontinued operations	$	5,972	$	(36)	$	5,936


	Three Months Ended February 26, 2023
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations

Employee severance and benefit costs	$	2,362	$	(175)	$	2,187	$	—	$	2,187
Lease costs	43		—		43		—		43
Other restructuring costs	336		—		336		—		336
Total restructuring costs	$	2,741	$	(175)	$	2,566	$	—	$	2,566


	Three Months Ended February 26, 2023
	Curation		Other		Total
Total restructuring costs, As reported	$	901	$	1,840	$	2,741
Restatement adjustments	(175)		—		(175)
Total restructuring costs, As restated	$	726	$	1,840	$	2,566


	Nine Months Ended February 26, 2023
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations

Employee severance and benefit costs	$	2,606	$	(324)	$	2,282	$	—	$	2,282
Lease costs	88		—		88		—		88
Other restructuring costs	1,917		(111)		1,806		—		1,806
Total restructuring costs	$	4,611	$	(435)	$	4,176	$	—	$	4,176


	Nine Months Ended February 26, 2023
	Curation		Other		Total
Total restructuring costs, As reported	$	1,509	$	3,102	$	4,611
Restatement adjustments	(435)		—		(435)
Total restructuring costs, As restated	$	1,074	$	3,102	$	4,176

As of and for the three and six months ended November 27, 2022

The effects of the restatement on the consolidated balance sheet as of November 27, 2022 are summarized in the following table:


	November 27, 2022
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
ASSETS
Current Assets:
Cash and cash equivalents	$	6,830	$	—	$	6,830	$	(892)	$	5,938
Accounts receivable, net	35,689		(522)		35,167		(7,709)		27,458
Inventories	77,524		(5,936)		71,588		(33,168)		38,420
Prepaid expenses and other current assets	7,049		(1,553)		5,496		(3,823)		1,673
Current Assets, discontinued operations	—		—		—		45,592		45,592
Total Current Assets	127,092		(8,011)		119,081		—		119,081

Property and equipment, net	118,852		5,001		123,853		(3,666)		120,187
Operating lease right-of-use assets	7,951		(90)		7,861		(2,610)		5,251
Goodwill	13,881		—		13,881		—		13,881
Trademarks/tradenames, net	7,400		—		7,400		(3,200)		4,200
Customer relationships, net	1,292		—		1,292		(1,292)		—
Other assets	2,605		—		2,605		(113)		2,492
Non-current Assets, discontinued operations	—		—		—		10,881		10,881
Total Assets	$	279,073	$	(3,100)	$	275,973	$	—	$	275,973

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities:
Accounts payable	$	27,971	$	(25)	27,946		$	(14,645)	13,301
Accrued compensation	4,602		—		4,602		(498)		4,104
Other accrued liabilities	10,426		(51)		10,375		(1,010)		9,365
Current portion of lease liabilities	5,013		—		5,013		(679)		4,334
Deferred revenue	731		—		731		—		731
Line of credit	48,000		—		48,000		—		48,000
Current portion of long-term debt	98,953		—		98,953		—		98,953
Current liabilities, discontinued operations	—		—		—		16,832		16,832
Total Current Liabilities	195,696		(76)		195,620		—		195,620


Long-term lease liabilities	8,999		—		8,999		(1,979)		7,020
Deferred taxes, net	10		—		10		—		10
Other non-current liabilities	201		—		201		—		201
Non-current liabilities, discontinued operations	—		—		—		1,979		1,979
Total Liabilities	204,906		(76)		204,830		—		204,830

Stockholders’ Equity:
Common stock	$	30	$	—	30		$	—	30
Additional paid-in capital	$	174,036	$	(178)	173,858		—		173,858
Accumulated deficit	(99,899)		(2,846)		(102,745)		—		(102,745)

Total Stockholders’ Equity	74,167		(3,024)		71,143		—		71,143
Total Liabilities and Stockholders’ Equity	$	279,073	$	(3,100)	$	275,973	$	—	$	275,973

The effects of the restatement on the consolidated statement of operations and comprehensive income (loss) for the three months November 27, 2022 are summarized in the following table:


	Three Months Ended November 27, 2022
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Product sales	$	38,802	$	173	$	38,975	$	(17,111)	$	21,864
Cost of product sales	31,694		1,280		32,974		(16,789)		16,185
Gross profit	7,108		(1,107)		6,001		(322)		5,679
Operating costs and expenses:
Research and development	2,118		149		2,267		(90)		2,177
Selling, general and administrative	10,773		(23)		10,750		(2,459)		8,291
Impairment of indefinite-lived intangible assets	1,300		—		1,300		(1,300)		—
Restructuring costs	823		(260)		563		—		563
Total operating costs and expenses	15,014		(134)		14,880		(3,849)		11,031
Operating (loss) income	(7,906)		(973)		(8,879)		3,527		(5,352)


Interest income	16		—		16		—		16
Interest expense	(4,219)		595		(3,624)		—		(3,624)
Transition services income	—		24		24		—		24
Other (expense) income	(336)		75		(261)		—		(261)
Net (loss) income from continuing operations before taxes	(12,445)		(279)		(12,724)		3,527		(9,197)
Income tax expense	(4)		—		(4)		—		(4)
Net (loss) income from continuing operations	(12,449)		(279)		(12,728)		3,527		(9,201)

Discontinued operations:
Loss from discontinued operations	—		(78)		(78)		(3,527)		(3,605)

Loss from discontinued operations, net of tax	—		(78)		(78)		(3,527)		(3,605)
Consolidated net loss	$	(12,449)	$	(357)	$	(12,806)	$	—	$	(12,806)



Basic net (loss) income per share:
(Loss) income from continuing operations	$	(0.42)	$	(0.01)	$	(0.43)	$	0.12	$	(0.31)
Loss from discontinued operations	$	—	$	—	$	—	$	(0.12)	$	(0.12)
Total basic net loss per share	$	(0.42)	$	(0.01)	$	(0.43)	$	—	$	(0.43)

Diluted net (loss) income per share:
(Loss) income from continuing operations	$	(0.42)	$	(0.01)	$	(0.43)	$	0.12	$	(0.31)
Loss from discontinued operations	$	—	$	—	$	—	$	(0.12)	$	(0.12)
Total diluted net loss per share	$	(0.42)	$	(0.01)	$	(0.43)	$	—	$	(0.43)

Shares used in per share computation
Basic	29,634		—		29,634		—		29,634
Diluted	29,634		—		29,634		—		29,634

	Three Months Ended November 27, 2022


(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Net loss	$	(12,449)	$	(357)	$	(12,806)	$	—	$	(12,806)
Other comprehensive (loss) income, net of tax:
Net unrealized gains on interest rate swaps, net of tax	286		—		286		—		286
Other comprehensive income, net of tax	286		—		286		—		286
Total comprehensive loss	$	(12,163)	$	(357)	$	(12,520)	$	—	$	(12,520)

The effects of the restatement on the consolidated statement of operations and comprehensive income (loss) for the six months November 27, 2022 are summarized in the following table:


	Six Months Ended November 27, 2022
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Product sales	$	82,157	$	194	$	82,351	$	(36,764)	$	45,587
Cost of product sales	68,797		1,358		70,155		(36,226)		33,929
Gross profit	13,360		(1,164)		12,196		(538)		11,658
Operating costs and expenses:
Research and development	4,166		391		4,557		(169)		4,388
Selling, general and administrative	21,435		1,788		23,223		(6,828)		16,395
Impairment of indefinite-lived intangible assets	1,300		—		1,300		(1,300)		—
Gain on sale of BreatheWay	—		(2,108)		(2,108)		—		(2,108)
Restructuring costs	1,870		(260)		1,610		—		1,610
Total operating costs and expenses	28,771		(189)		28,582		(8,297)		20,285
Operating (loss) income	(15,411)		(975)		(16,386)		7,759		(8,627)


Interest income	31		—		31		—		31
Interest expense	(7,897)		1,027		(6,870)		—		(6,870)
Transition services income	—		68		68		—		68
Other (expense) income	(515)		13		(502)		—		(502)
Net (loss) income from continuing operations before taxes	(23,792)		133		(23,659)		7,759		(15,900)
Income tax expense	(8)		—		(8)		—		(8)
Net (loss) income from continuing operations	(23,800)		133		(23,667)		7,759		(15,908)

Discontinued operations:
Loss from discontinued operations	—		(105)		(105)		(7,759)		(7,864)

Loss from discontinued operations, net of tax	—		(105)		(105)		(7,759)		(7,864)
Consolidated net (loss) income	$	(23,800)	$	28	$	(23,772)	$	—	$	(23,772)



Basic net (loss) income per share:
(Loss) income from continuing operations	$	(0.80)	$	—	$	(0.80)	$	0.26	$	(0.54)
Loss from discontinued operations	$	—	$	—	$	—	$	(0.26)	$	(0.26)


Total basic net loss per share	$	(0.80)	$	—	$	(0.80)	$	—	$	(0.80)

Diluted net (loss) income per share:
(Loss) income from continuing operations	$	(0.80)	$	—	$	(0.80)	$	0.26	$	(0.54)
Loss from discontinued operations	$	—	$	—	$	—	$	(0.26)	$	(0.26)
Total diluted net loss per share	$	(0.80)	$	—	$	(0.80)	$	—	$	(0.80)

Shares used in per share computation
Basic	29,605		—		29,605		—		29,605
Diluted	29,605		—		29,605		—		29,605

	Six Months Ended November 27, 2022
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations

Net (loss) income	$	(23,800)	$	28	$	(23,772)	$	—	$	(23,772)
Other comprehensive (loss) income, net of tax:
Net unrealized gains on interest rate swaps, net of tax	586		—		586		—		586
Other comprehensive income, net of tax	586		—		586		—		586
Total comprehensive (loss) income	$	(23,214)	$	28	$	(23,186)	$	—	$	(23,186)


	Convertible Preferred Stock			Common Stock			Additional Paid-in Capital		Retained Earnings (Accumulated Deficit)		Accumulated Other Comprehensive Loss		Total Stockholders’ Equity
	Shares	Amount		Shares	Amount
As Reported
Balance at May 29, 2022	—	$	—	29,513	$	30	$	167,352	$	(76,099)	$	(586)	$	90,697
Issuance of stock under stock plans, net of shares withheld	—	—		80	—		—		—		—		—
Taxes paid by Company for employee stock plans	—	—		—	—		(67)		—		—		(67)
Stock-based compensation	—	—		—	—		785		—		—		785
Net loss	—	—		—	—		—		(11,351)		—		(11,351)
Other comprehensive income, net of tax	—	—		—	—		—		—		300		300
Balance at August 28, 2022	—	$	—	29,593	$	30	$	168,070	$	(87,450)	$	(286)	$	80,364
Issuance of stock under stock plans, net of shares withheld	—	—		76	—		—		—		—		—
Taxes paid by Company for employee stock plans	—	—		—	—		(142)		—		—		(142)
Stock-based compensation	—	—		—	—		1,108		—		—		1,108
Net loss	—	—		—	—		—		(12,449)		—		(12,449)
Other comprehensive income, net of tax	—	—		—	—		—		—		286		286


Issuance of shares to Wynnefield Capital, Inc., net of issuance costs	—	—		628	—		5,000		—		—		5,000
Balance at November 27, 2022	—	$	—	30,297	$	30	$	174,036	$	(99,899)	$	—	$	74,167

Restatements Adjustments
Opening retained earnings (at May 29, 2022)	—	—		—	—		—		(2,874)		—		(2,874)
Net income at August 28, 2022	—	—		—	—		—		385		—		385
Opening retained earnings (at August 28, 2022)	—	—		—	—		—		(2,489)		—		(2,489)
Cost of issuance of shares to Wynnefield Capital, Inc.	—	—		—	—		(178)		—		—		(178)
Net loss at November 27, 2022	—	—		—	—		—		(357)		—		(357)

As Restated
Balance at May 29, 2022	—	$	—	29,513	$	30	$	167,352	$	(78,973)	$	(586)	$	87,823

Issuance of stock under stock plans, net of shares withheld	—	—		80	—		—		—		—		—
Taxes paid by Company for employee stock plans	—	—		—	—		(67)		—		—		(67)
Stock-based compensation	—	—		—	—		785		—		—		785
Net loss	—	—		—	—		—		(10,966)		—		(10,966)
Other comprehensive income, net of tax	—	—		—	—		—		—		300		300
Balance at August 28, 2022	—	$	—	29,593	$	30	$	168,070	$	(89,939)	$	(286)	$	77,875

Issuance of stock under stock plans, net of shares withheld	—	—		76	—		—		—		—		—
Taxes paid by Company for employee stock plans	—	—		—	—		(142)		—		—		(142)
Stock-based compensation	—	—		—	—		1,108		—		—		1,108
Net loss	—	—		—	—		—		(12,806)		—		(12,806)
Other comprehensive income, net of tax	—	—		—	—		—		—		286		286
Issuance of shares to Wynnefield Capital, Inc., net of issuance costs	—	—		628	—		4,822		—		—		4,822
Balance at November 27, 2022	—	$	—	30,297	$	30	$	173,858	$	(102,745)	$	—	$	71,143

The effects of the restatement on the consolidated statement of cash flows for the six months ended November 27, 2022 are summarized in the following table:


	Six Months Ended November 27, 2022
	As Reported		Restatement Adjustment		As Restated
Cash flows from operating activities:
Net (loss) income	$	(23,800)	$	28	$	(23,772)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Impairment of indefinite-lived intangible assets and goodwill	1,300		—		1,300
Depreciation, amortization of intangibles, debt costs and right-of-use assets	7,237		57		7,294
Gain on sale of BreatheWay	(2,108)		—		(2,108)
Stock-based compensation expense	1,893		—		1,893
Deferred taxes	(13)		—		(13)


Net loss on disposal of property and equipment held and used	22		—		22
Other, net	86		—		86
Changes in current assets and current liabilities:
Accounts receivable, net	12,483		—		12,483
Inventories	(10,679)		1,103		(9,576)
Prepaid expenses and other current assets	(585)		(140)		(725)
Accounts payable	11,730		(21)		11,709
Accrued compensation	(4,636)		—		(4,636)
Other accrued liabilities	2,777		—		2,777
Deferred revenue	(188)		—		(188)
Net cash (used in) provided by operating activities	(4,481)		1,027		(3,454)

Cash flows from investing activities:
Proceeds from sale of BreatheWay, net	3,135		—		3,135
Purchases of property and equipment	(6,182)		(1,027)		(7,209)


Net cash used in investing activities	(3,047)		(1,027)		(4,074)

Cash flows from financing activities:
Proceeds from sale of common stock	5,000		—		5,000
Payments on long-term debt	(76)		—		(76)
Proceeds from line of credit	8,800		—		8,800
Payments on line of credit	(800)		—		(800)
Taxes paid by Company for employee stock plans	(209)		—		(209)

Net cash provided by financing activities	12,715		—		12,715

Net increase in cash and cash equivalents	5,187		—		5,187
Cash and cash equivalents, beginning of period	1,643		—		1,643
Cash and cash equivalents, end of period	$	6,830	$	—	$	6,830

Supplemental disclosure of non-cash investing and financing activities:
Purchases of property and equipment on trade vendor credit	$	2,700	$	—	$	2,700


	November 27, 2022
	Balance at beginning of period		Provision (benefit) for expected credit losses	Write offs, net of recoveries	Balance at end of period
Six months ended November 27, 2022, As Reported	$	65	—	—	$	65
Restatement Adjustment	$	522	—	—	$	522
Six months ended November 27, 2022, As Restated	$	587	—	—	$	587
Discontinued Operations	$	(65)	—	—	$	(65)
Six months ended November 27, 2022, As Restated, after Discontinued Operations	$	522	—	—	$	522

The effects of this error on our previously reported inventories as of November 27, 2022 as presented in the Company’s Quarterly Report on Form 10-Q Note 1, are as follows:


	November 27, 2022
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Finished goods	$	38,882	$	185	$	39,067	$	(23,408)	$	15,659
Raw materials	26,959		(2,482)		24,477		(9,000)		15,477
Work in progress	11,683		(3,639)		8,044		(760)		7,284
Total inventories	$	77,524	$	(5,936)	$	71,588	$	(33,168)	$	38,420


	Three Months Ended November 27, 2022
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Numerator:
Net loss applicable to Common Stockholders	$	(12,449)	$	(357)	$	(12,806)	$	—	$	(12,806)

Denominator:
Weighted average shares for basic net income per share	29,634		—		29,634		—		29,634



Weighted average shares for diluted net income per share	29,634		—		29,634		—		29,634

Diluted net loss per share	$	(0.42)	$	(0.01)	$	(0.43)	$	—	$	(0.43)


	Six Months Ended November 27, 2022
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Numerator:
Net (loss) income applicable to Common Stockholders	$	(23,800)	$	28	$	(23,772)	$	—	$	(23,772)

Denominator:
Weighted average shares for basic net income per share	29,605		—		29,605		—		29,605



Weighted average shares for diluted net income per share	29,605		—		29,605		—		29,605

Diluted loss income per share	$	(0.80)	$	—	$	(0.80)	$	—	$	(0.80)


	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Contact development and manufacturing organization	$	16,032	$	173	$	16,205	$	—	$	16,205
Fermentation	5,659		—		5,659		—		5,659
Total	$	21,691	$	173	$	21,864	$	—	$	21,864

	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Avocado Products	$	14,915	$	—	$	14,915	$	(14,915)	$	—
Olive oil and vinegars	2,196		—		2,196		(2,196)		—
Total	$	17,111	$	—	$	17,111	$	(17,111)	$	—


	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Contact development and manufacturing organization	$	34,279	$	194	$	34,473	$	—	$	34,473
Fermentation	11,114		—		11,114		—		11,114
Total	$	45,393	$	194	$	45,587	$	—	$	45,587

	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Avocado Products	$	32,009	$	—	$	32,009	$	(32,009)	$	—
Olive oil and vinegars	4,755		—		4,755		(4,755)		—
Total	$	36,764	$	—	$	36,764	$	(36,764)	$	—


	Three Months Ended November 27, 2022
(in thousands)	Lifecore		Curation Foods		Other		Total
Three Months Ended November 27, 2022, As Reported
Net sales	$	21,691	$	17,111	$	—	$	38,802
Gross profit	6,675		433		—		7,108
Net income (loss) from continuing operations	916		(3,295)		(10,070)		(12,449)

Depreciation and amortization	1,843		588		11		2,442
Interest income	16		—		—		16
Interest expense	—		—		4,219		4,219
Income tax expense (benefit), continuing operations	290		(836)		550		4
Corporate overhead allocation	1,022		283		(1,305)		—

Restatement Adjustments
Net sales	173		—		—		173
Gross profit	(987)		(120)		—		(1,107)
Net (loss) income from continuing operations	(697)		(724)		1,142		(279)
Loss from discontinued operations, net of tax	—		(78)		—		(78)
Depreciation and amortization	31		—		—		31
Interest expense	—		—		(595)		(595)
Income tax (benefit) expense, continuing operations	(290)		837		(547)		—







Three Months Ended November 27, 2022, As Restated
Net sales	$	21,864	$	17,111	$	—	$	38,975
Gross profit	5,688		313		—		6,001
Net loss from continuing operations	219		(4,019)		(8,928)		(12,728)
Loss from discontinued operations, net of tax	—		(78)		—		(78)
Depreciation and amortization	1,874		588		11		2,473
Interest income	16		—		—		16
Interest expense	—		—		3,624		3,624
Income tax expense, continuing operations	—		1		3		4
Corporate overhead allocation	1,022		283		(1,305)		—

The effects of this error on our previously reported segment reporting for the six months ended November 27, 2022 as presented in the Company’s Quarterly Report on Form 10-Q Note 7, are as follows.


	Six Months Ended November 27, 2022
(in thousands)	Lifecore		Curation Foods		Other		Total
Six Months Ended November 27, 2022, As Reported
Net sales	$	45,393	$	36,764	$	—	$	82,157
Gross profit	12,776		584		—		13,360
Net income (loss) from continuing operations	1,419		(6,017)		(19,202)		(23,800)

Depreciation and amortization	3,614		2,756		21		6,391
Interest income	31		—		—		31
Interest expense	—		1		7,896		7,897
Income tax (benefit) expense, continuing operations	448		(1,901)		1,461		8
Corporate overhead allocation	2,060		617		(2,677)		—

Restatement Adjustments
Net sales	194		—		—		194
Gross profit	(1,114)		(50)		—		(1,164)
Net (loss) income from continuing operations	(666)		(1,684)		2,483		133
Loss from discontinued operations, net of tax	—		(105)		—		(105)
Depreciation and amortization	61		—		—		61
Interest expense	—		—		(1,027)		(1,027)
Income tax (benefit) expense, continuing operations	(448)		1,904		(1,456)		—







Six Months Ended November 27, 2022, As Restated
Net sales	$	45,587	$	36,764	$	—	$	82,351
Gross profit	11,662		534		—		12,196
Net income (loss) from continuing operations	753		(7,701)		(16,719)		(23,667)
Loss from discontinued operations, net of tax	—		(105)		—		(105)
Depreciation and amortization	3,675		2,756		21		6,452
Interest income	31		—		—		31
Interest expense	—		1		6,869		6,870
Income tax (benefit) expense, continuing operations	—		3		5		8
Corporate overhead allocation	2,060		617		(2,677)		—


	Three Months Ended November 27, 2022
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations

Employee severance and benefit costs	$	36	$	(149)	$	(113)	$	—	$	(113)
Lease costs	25		—		25		—		25
Other restructuring costs	762		(111)		651		—		651
Total restructuring costs	$	823	$	(260)	$	563	$	—	$	563


	Three Months Ended November 27, 2022
	Curation		Other		Total
Total restructuring costs, As reported	$	186	$	637	$	823
Restatement adjustments	(260)		—		(260)
Total restructuring costs, As restated	$	(74)	$	637	$	563


	Six Months Ended November 27, 2022
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations

Employee severance and benefit costs	$	244	$	(149)	$	95	$	—	$	95
Lease costs	45		—		45		—		45
Other restructuring costs	1,581		(111)		1,470		—		1,470
Total restructuring costs	$	1,870	$	(260)	$	1,610	$	—	$	1,610


	Six Months Ended November 27, 2022
	Curation		Other		Total
Total restructuring costs, As reported	$	608	$	1,262	$	1,870
Restatement adjustments	(260)		—		(260)
Total restructuring costs, As restated	$	348	$	1,262	$	1,610

As of and for the three months ended August 28, 2022

The effects of the restatement on the consolidated balance sheet as of August 28, 2022 are summarized in the following table:


	August 28, 2022
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
ASSETS
Current Assets:
Cash and cash equivalents	$	4,222	$	—	$	4,222	$	(1,682)	$	2,540
Accounts receivable, net	40,934		(522)		40,412		(8,483)		31,929
Inventories	64,285		(4,860)		59,425		(23,271)		36,154
Prepaid expenses and other current assets	7,157		(1,711)		5,446		(3,460)		1,986
Current Assets, discontinued operations	—		—		—		36,896		36,896
Total Current Assets	116,598		(7,093)		109,505		—		109,505

Property and equipment, net	117,551		4,437		121,988		(3,798)		118,190
Operating lease right-of-use assets	8,229		(62)		8,167		(2,771)		5,396
Goodwill	13,881		—		13,881		—		13,881
Trademarks/tradenames, net	8,700		—		8,700		(4,500)		4,200
Customer relationships, net	1,346		—		1,346		(1,346)		—
Other assets	2,793		—		2,793		(113)		2,680
Non-current Assets, discontinued operations	—		—		—		12,528		12,528
Total Assets	$	269,098	$	(2,718)	$	266,380	$	—	$	266,380

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities:
Accounts payable	$	16,366	$	—	$	16,366	$	(6,743)	$	9,623
Accrued compensation	6,373		—		6,373		(452)		5,921
Other accrued liabilities	7,832		(229)		7,603		(981)		6,622
Current portion of lease liabilities	5,021		—		5,021		(669)		4,352
Deferred revenue	803		—		803		—		803
Line of credit	44,000		—		44,000		—		44,000
Current portion of long-term debt	98,569		—		98,569		—		98,569
Current liabilities, discontinued operations	—		—		—		8,845		8,845
Total Current Liabilities	178,964		(229)		178,735		—		178,735


Long-term lease liabilities	9,447		—		9,447		(2,153)		7,294
Deferred taxes, net	124		—		124		—		124
Other non-current liabilities	199		—		199		—		199
Non-current liabilities, discontinued operations	—		—		—		2,153		2,153
Total Liabilities	188,734		(229)		188,505		—		188,505

Stockholders’ Equity:
Common stock	30		—		30		—		30
Additional paid-in capital	168,070		—		168,070		—		168,070
Accumulated deficit	(87,450)		(2,489)		(89,939)		—		(89,939)
Accumulated other comprehensive loss	(286)		—		(286)		—		(286)
Total Stockholders’ Equity	80,364		(2,489)		77,875		—		77,875
Total Liabilities and Stockholders’ Equity	$	269,098	$	(2,718)	$	266,380	$	—	$	266,380

The effects of the restatement on the consolidated statement of operations and comprehensive income (loss) for the three months August 28, 2022 are summarized in the following table:


	Three Months Ended August 28, 2022
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Product sales	$	43,355	$	21	$	43,376	$	(19,652)	$	23,724
Cost of product sales	37,103		78		37,181		(19,436)		17,745
Gross profit	6,252		(57)		6,195		(216)		5,979
Operating costs and expenses:
Research and development	2,048		242		2,290		(79)		2,211
Selling, general and administrative	10,661		1,811		12,472		(4,369)		8,103
Gain on sale of BreatheWay	—		(2,108)		(2,108)		—		(2,108)
Restructuring costs	1,047		—		1,047		—		1,047
Total operating costs and expenses	13,756		(55)		13,701		(4,448)		9,253
Operating (loss) income	(7,504)		(2)		(7,506)		4,232		(3,274)


Interest income	15		—		15		—		15
Interest expense	(3,678)		432		(3,246)		—		(3,246)
Transition services income	—		44		44		—		44
Other expense	(180)		(62)		(242)		—		(242)
Net (loss) income from continuing operations before taxes	(11,347)		412		(10,935)		4,232		(6,703)
Income tax expense	(4)		—		(4)		—		(4)
Net (loss) income from continuing operations	(11,351)		412		(10,939)		4,232		(6,707)

Discontinued operations:
Loss from discontinued operations	—		(27)		(27)		(4,232)		(4,259)

Loss from discontinued operations, net of tax	—		(27)		(27)		(4,232)		(4,259)
Consolidated net (loss) income	$	(11,351)	$	385	$	(10,966)	$	—	$	(10,966)



Basic net (loss) income per share:
(Loss) income from continuing operations	$	(0.38)	$	0.01	$	(0.37)	$	0.14	$	(0.23)
Loss from discontinued operations	$	—	$	—	$	—	$	(0.14)	$	(0.14)
Total basic net (loss) income per share	$	(0.38)	$	0.01	$	(0.37)	$	—	$	(0.37)

Diluted net (loss) income per share:
(Loss) income from continuing operations	$	(0.38)	$	0.01	$	(0.37)	$	0.14	$	(0.23)
Loss from discontinued operations	$	—	$	—	$	—	$	(0.14)	$	(0.14)
Total diluted net (loss) income per share	$	(0.38)	$	0.01	$	(0.37)	$	—	$	(0.37)

Shares used in per share computation
Basic	29,577		—		29,577		—		29,577
Diluted	29,577		—		29,577		—		29,577


	Three Months Ended August 28, 2022
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Net (loss) income	$	(11,351)	$	385	$	(10,966)	$	—	$	(10,966)
Other comprehensive (loss) income, net of tax:
Net unrealized gains on interest rate swaps, net of tax	300		—		300		—		300
Other comprehensive income, net of tax	300		—		300		—		300
Total comprehensive (loss) income	$	(11,051)	$	385	$	(10,666)	$	—	$	(10,666)


	Convertible Preferred Stock			Common Stock			Additional Paid-in Capital		Retained Earnings (Accumulated Deficit)		Accumulated Other Comprehensive Loss		Total Stockholders’ Equity
	Shares	Amount		Shares	Amount
As Reported
Balance at May 29, 2022	—	$	—	29,513	$	30	$	167,352	$	(76,099)	$	(586)	$	90,697
Issuance of stock under stock plans, net of shares withheld	—	—		80	—		—		—		—		—
Taxes paid by Company for employee stock plans	—	—		—	—		(67)		—		—		(67)
Stock-based compensation	—	—		—	—		785		—		—		785
Net loss	—	—		—	—		—		(11,351)		—		(11,351)
Other comprehensive income, net of tax	—	—		—	—		—		—		300		300
Balance at August 28, 2022	—	$	—	29,593	$	30	$	168,070	$	(87,450)	$	(286)	$	80,364

Restatements Adjustments
Opening retained earnings (at May 29, 2022)	—	—		—	—		—		(2,874)		—		(2,874)
Net income at August 28, 2022	—	—		—	—		—		385		—		385


As Restated
Balance at May 29, 2022	—	$	—	29,513	$	30	$	167,352	$	(78,973)	$	(586)	$	87,823

Issuance of stock under stock plans, net of shares withheld	—	—		80	—		—		—		—		—
Taxes paid by Company for employee stock plans	—	—		—	—		(67)		—		—		(67)
Stock-based compensation	—	—		—	—		785		—		—		785
Net loss	—	—		—	—		—		(10,966)		—		(10,966)
Other comprehensive income, net of tax	—	—		—	—		—		—		300		300
Balance at August 28, 2022	—	$	—	29,593	$	30	$	168,070	$	(89,939)	$	(286)	$	77,875

The effects of the restatement on the consolidated statement of cash flows for the three months ended August 28, 2022 are summarized in the following table:


	Three Months Ended August 28, 2022
	As Reported		Restatement Adjustment		As Restated
Cash flows from operating activities:
Net (loss) income	$	(11,351)	$	385	$	(10,966)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Depreciation, amortization of intangibles, debt costs and right-of-use assets	4,356		(2)		4,354
Gain on sale of BreatheWay	(2,108)		—		(2,108)
Stock-based compensation expense	785		—		785
Deferred taxes	(17)		—		(17)



Other, net	(18)		—		(18)
Changes in current assets and current liabilities:
Accounts receivable, net	7,238		—		7,238
Inventory	2,560		27		2,587
Prepaid expenses and other current assets	(761)		22		(739)
Accounts payable	581		—		581
Accrued compensation	(2,865)		—		(2,865)
Other accrued liabilities	183		—		183
Deferred revenue	(116)		—		(116)
Net cash (used in) provided by operating activities	(1,533)		432		(1,101)

Cash flows from investing activities:
Proceeds from sale of BreatheWay, net	3,135		—		3,135
Purchases of property and equipment	(2,929)		(432)		(3,361)


Net cash provided by (used in) investing activities	206		(432)		(226)

Cash flows from financing activities:
Payments on long-term debt	(27)		—		(27)
Proceeds from line of credit	4,000		—		4,000

Taxes paid by Company for employee stock plans	(67)		—		(67)

Net cash provided by financing activities	3,906		—		3,906

Net increase in cash and cash equivalents	2,579		—		2,579
Cash and cash equivalents, beginning of period	1,643		—		1,643
Cash and cash equivalents, end of period	$	4,222	$	—	$	4,222

Supplemental disclosure of non-cash investing and financing activities:
Purchases of property and equipment on trade vendor credit	$	2,243	$	—	$	2,243


	August 28, 2022
	Balance at beginning of period		Provision (benefit) for expected credit losses	Write offs, net of recoveries	Balance at end of period
Three months ended August 28, 2022, As Reported	$	65	—	—	$	65
Restatement Adjustment	$	522	—	—	$	522
Three months ended August 28, 2022, As Restated	$	587	—	—	$	587
Discontinued Operations	$	(65)	—	—	$	(65)
Three months ended August 28, 2022, As Restated, after Discontinued Operations	$	522	—	—	$	522

The effects of this error on our previously reported inventories as of August 28, 2022 as presented in the Company’s Quarterly Report on Form 10-Q Note 1, are as follows:


	August 28, 2022
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Finished goods	$	25,266	$	(164)	$	25,102	$	(14,321)	$	10,781
Raw materials	27,402		(2,379)		25,023		(8,762)		16,261
Work in progress	11,617		(2,317)		9,300		(188)		9,112
Total inventories	$	64,285	$	(4,860)	$	59,425	$	(23,271)	$	36,154


	Three Months Ended August 28, 2022
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Numerator:
Net (loss) income applicable to Common Stockholders	$	(11,351)	$	385	$	(10,966)	$	—	$	(10,966)

Denominator:
Weighted average shares for basic net income per share	29,577		—		29,577		—		29,577



Weighted average shares for diluted net income per share	29,577		—		29,577		—		29,577

Diluted net (loss) income per share	$	(0.38)	$	0.01	$	(0.37)	$	—	$	(0.37)


	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Contact development and manufacturing organization	$	18,247	$	21	$	18,268	$	—	$	18,268
Fermentation	5,456		—		5,456		—		5,456
Total	$	23,703	$	21	$	23,724	$	—	$	23,724

	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Avocado Products	$	17,093	$	—	$	17,093	$	(17,093)	$	—
Olive oil and vinegars	2,559		—		2,559		(2,559)		—
Total	$	19,652	$	—	$	19,652	$	(19,652)	$	—

The effects of this error on our previously reported segment reporting for the three months ended August 28, 2022 as presented in the Company’s Quarterly Report on Form 10-Q Note 7, are as follows.


	Three Months Ended August 28, 2022
(in thousands)	Lifecore		Curation Foods		Other		Total
Three Months Ended August 28, 2022, As Reported
Net sales	$	23,703	$	19,652	$	—	$	43,355
Gross profit	6,101		151		—		6,252
Net income (loss) from continuing operations	502		(2,721)		(9,132)		(11,351)

Depreciation and amortization	1,771		2,167		11		3,949
Interest income	15		—		—		15
Interest expense	—		—		3,678		3,678
Income tax (benefit) expense, continuing operations	158		(1,065)		911		4
Corporate overhead allocation	1,038		334		(1,372)		—

Restatement Adjustments
Net sales	21		—		—		21
Gross profit	(127)		70		—		(57)
Net (loss) income from continuing operations	31		(959)		1,340		412
Loss from discontinued operations, net of tax	—		(27)		—		(27)
Depreciation and amortization	30		—		—		30
Interest expense	—		—		(432)		(432)
Income tax (benefit) expense, continuing operations	(158)		1,066		(908)		—







Three Months Ended August 28, 2022, As Restated
Net sales	$	23,724	$	19,652	$	—	$	43,376
Gross profit	5,974		221		—		6,195
Net income (loss) from continuing operations	533		(3,680)		(7,792)		(10,939)
Loss from discontinued operations, net of tax	—		(27)		—		(27)
Depreciation and amortization	1,801		2,167		11		3,979
Interest income	15		—		—		15
Interest expense	—		—		3,246		3,246
Income tax expense, continuing operations	—		1		3		4
Corporate overhead allocation	1,038		334		(1,372)		—

As of and for the three and nine months ended February 27, 2022

The effects of the restatement on the consolidated balance sheet as of February 27, 2022 are summarized in the following table:


	February 27, 2022
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
ASSETS
Current Assets:
Cash and cash equivalents	$	1,854	$	—	$	1,854	$	(753)	$	1,101
Accounts receivable, net	49,559		(522)		49,037		(9,290)		39,747
Inventories	73,700		(2,591)		71,109		(36,351)		34,758
Prepaid expenses and other current assets	6,924		(1,784)		5,140		(3,322)		1,818
Current assets, discontinued operations	—		—		—		49,716		49,716
Total Current Assets	132,037		(4,897)		127,140		—		127,140

Property and equipment, net	123,209		3,557		126,766		(16,263)		110,503
Operating lease right-of-use assets	8,796		—		8,796		(3,093)		5,703
Goodwill	33,916		—		33,916		(20,035)		13,881
Trademarks/tradenames, net	17,100		—		17,100		(12,900)		4,200
Customer relationships, net	7,476		—		7,476		(7,425)		51
Other assets	3,048		—		3,048		(113)		2,935
Non-current assets, discontinued operations	—		—		—		59,829		59,829
Total Assets	$	325,582	$	(1,340)	$	324,242	$	—	$	324,242

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities:
Accounts payable	$	20,014	$	27	$	20,041	$	(6,747)	$	13,294
Accrued compensation	9,757		—		9,757		(339)		9,418
Other accrued liabilities	14,083		(36)		14,047		(1,054)		12,993
Current portion of lease liabilities	5,045		—		5,045		(650)		4,395
Deferred revenue	1,614		—		1,614		—		1,614
Line of credit	39,900		—		39,900		—		39,900
Current liabilities, discontinued operations	—		—		—		8,790		8,790
Total Current Liabilities	90,413		(9)		90,404		—		90,404

Long-term debt, net	79,598		—		79,598		—		79,598
Long-term lease liabilities	10,342		—		10,342		(2,494)		7,848
Deferred taxes, net	961		(165)		796		—		796
Other non-current liabilities	544		—		544		—		544
Non-current liabilities, discontinued operations	—		—		—		2,494		2,494
Total Liabilities	181,858		(174)		181,684		—		181,684

Stockholders’ Equity:
Common stock	29		—		29		—		29
Additional paid-in capital	166,943		—		166,943		—		166,943
Accumulated deficit	(22,536)		(1,166)		(23,702)		—		(23,702)
Accumulated other comprehensive loss	(712)		—		(712)		—		(712)
Total Stockholders’ Equity	143,724		(1,166)		142,558		—		142,558
Total Liabilities and Stockholders’ Equity	$	325,582	$	(1,340)	$	324,242	$	—	$	324,242

The effects of the restatement on the consolidated statement of operations and comprehensive income (loss) for the three months February 27, 2022 are summarized in the following table:


	Three Months Ended February 27, 2022
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Product sales	$	37,399	$	2	$	37,401	$	(2,169)	$	35,232
Cost of product sales	24,533		793		25,326		(1,733)		23,593
Gross profit	12,866		(791)		12,075		(436)		11,639
Operating costs and expenses:
Research and development	2,000		288		2,288		(34)		2,254
Selling, general and administrative	14,163		175		14,338		(589)		13,749
Restructuring costs	5,270		4		5,274		—		5,274
Total operating costs and expenses	21,433		467		21,900		(623)		21,277
Operating loss	(8,567)		(1,258)		(9,825)		187		(9,638)


Interest income	20		—		20		—		20
Interest expense	(4,105)		429		(3,676)		—		(3,676)
Transition services income	5,473		—		5,473		—		5,473
Other income (expense)	454		(164)		290		—		290
Net loss from continuing operations before taxes	(6,725)		(993)		(7,718)		187		(7,531)
Income tax benefit (expense)	87		(2,014)		(1,927)		(1,462)		(3,389)
Net loss from continuing operations	(6,638)		(3,007)		(9,645)		(1,275)		(10,920)

Discontinued operations:
(Loss) gain from discontinued operations	(6,859)		494		(6,365)		(187)		(6,552)
Income tax benefit (expense)	411		2,013		2,424		1,462		3,886
(Loss) income from discontinued operations, net of tax	(6,448)		2,507		(3,941)		1,275		(2,666)
Consolidated net loss	$	(13,086)	$	(500)	$	(13,586)	$	—	$	(13,586)



Basic net (loss) income per share:
Loss from continuing operations	$	(0.23)	$	(0.10)	$	(0.33)	$	(0.04)	$	(0.37)
Loss from discontinued operations	$	(0.22)	$	0.09	$	(0.13)	$	0.04	$	(0.09)
Total basic net loss per share	$	(0.45)	$	(0.01)	$	(0.46)	$	—	$	(0.46)

Diluted net (loss) income per share:
Loss from continuing operations	$	(0.23)	$	(0.10)	$	(0.33)	$	(0.04)	$	(0.37)
Loss from discontinued operations	$	(0.22)	$	0.09	$	(0.13)	$	0.04	$	(0.09)
Total diluted net loss per share	$	(0.45)	$	(0.01)	$	(0.46)	$	—	$	(0.46)

Shares used in per share computation
Basic	29,482		—		29,482		—		29,482
Diluted	29,482		—		29,482		—		29,482

	Three Months Ended February 27, 2022


(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Net loss	$	(13,086)	$	(500)	$	(13,586)	$	—	$	(13,586)
Other comprehensive (loss) income, net of tax:
Net unrealized gains on interest rate swaps, net of tax	104		—		104		—		104
Other comprehensive income, net of tax	104		—		104		—		104
Total comprehensive loss	$	(12,982)	$	(500)	$	(13,482)	$	—	$	(13,482)

The effects of the restatement on the consolidated statement of operations and comprehensive income (loss) for the nine months February 27, 2022 are summarized in the following table:


	Nine Months Ended February 27, 2022
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Product sales	$	90,140	$	40	$	90,180	$	(7,016)	$	83,164
Cost of product sales	58,507		1,637		60,144		(5,622)		54,522
Gross profit	31,633		(1,597)		30,036		(1,394)		28,642
Operating costs and expenses:
Research and development	5,722		(17)		5,705		(81)		5,624
Selling, general and administrative	27,659		211		27,870		(1,708)		26,162
Restructuring costs	7,530		(502)		7,028		—		7,028
Total operating costs and expenses	40,911		(308)		40,603		(1,789)		38,814
Operating (loss) income	(9,278)		(1,289)		(10,567)		395		(10,172)


Interest income	66		—		66		—		66
Interest expense	(13,877)		1,304		(12,573)		—		(12,573)
Transition services income	5,473		—		5,473		—		5,473
Other income	642		24		666		—		666
Net (loss) income from continuing operations before taxes	(16,974)		39		(16,935)		395		(16,540)
Income tax benefit (expense)	5,591		—		5,591		(130)		5,461
Net loss from continuing operations	(11,383)		39		(11,344)		265		(11,079)

Discontinued operations:
Loss from discontinued operations	(49,576)		(367)		(49,943)		(395)		(50,338)
Income tax (expense) benefit	(157)		—		(157)		130		(27)
Loss from discontinued operations, net of tax	(49,733)		(367)		(50,100)		(265)		(50,365)
Consolidated net loss	$	(61,116)	$	(328)	$	(61,444)	$	—	$	(61,444)



Basic net (loss) income per share:
Loss from continuing operations	$	(0.39)	$	—	$	(0.39)	$	0.01	$	(0.38)
Loss from discontinued operations	$	(1.69)	$	(0.01)	$	(1.70)	$	(0.01)	$	(1.71)
Total basic net loss per share	$	(2.08)	$	(0.01)	$	(2.09)	$	—	$	(2.09)


Diluted net (loss) income per share:
Loss income from continuing operations	$	(0.39)	$	—	$	(0.39)	$	0.01	$	(0.38)
Loss from discontinued operations	$	(1.69)	$	(0.01)	$	(1.70)	$	(0.01)	$	(1.71)
Total diluted net loss per share	$	(2.08)	$	(0.01)	$	(2.09)	$	—	$	(2.09)

Shares used in per share computation
Basic	29,459		—		29,459		—		29,459
Diluted	29,459		—		29,459		—		29,459

	Nine Months Ended February 27, 2022
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Net loss	$	(61,116)	$	(328)	$	(61,444)	$	—	$	(61,444)
Other comprehensive (loss) income, net of tax:
Net unrealized gains on interest rate swaps, net of tax	646		—		646		—		646
Other comprehensive income, net of tax	646		—		646		—		646
Total comprehensive loss	$	(60,470)	$	(328)	$	(60,798)	$	—	$	(60,798)


	Convertible Preferred Stock			Common Stock			Additional Paid-in Capital		Retained Earnings (Accumulated Deficit)		Accumulated Other Comprehensive Loss		Total Stockholders’ Equity
	Shares	Amount		Shares	Amount
As Reported
Balance at May 30, 2021	—	$	—	29,333	$	29	$	165,533	$	38,580	$	(1,358)	$	202,784
Issuance of stock under stock plans, net of shares withheld	—	—		129	—		—		—		—		—
Taxes paid by Company for employee stock plans	—	—		—	—		(428)		—		—		(428)
Stock-based compensation	—	—		—	—		620		—		—		620
Net loss	—	—		—	—		—		(9,477)		—		(9,477)
Other comprehensive income, net of tax	—	—		—	—		—		—		366		366
Balance at August 29, 2021	—	$	—	29,462	$	29	$	165,725	$	29,103	$	(992)	$	193,865
Issuance of stock under stock plans, net of shares withheld	—	—		19	—		—		—		—		—
Taxes paid by Company for employee stock plans	—	—		—	—		(84)		—		—		(84)
Stock-based compensation	—	—		—	—		686		—		—		686
Net loss	—	—		—	—		—		(38,441)		—		(38,441)
Other comprehensive income, net of tax	—	—		—	—		—		—		176		176
Balance at November 28, 2021	—	$	—	29,481	$	29	$	166,327	$	(9,338)	$	(816)	$	156,202
Issuance of stock under stock plans, net of shares withheld	—	—		1	—		—		—		—		—
Taxes paid by Company for employee stock plans	—	—		—	—		(6)		—		—		(6)
Stock-based compensation	—	—		—	—		622		—		—		622


Net loss	—	—		—	—		—		(13,086)		—		(13,086)
Other comprehensive income, net of tax	—	—		—	—		—		—		104		104
Balance at February 27, 2022	—	$	—	29,482	$	29	$	166,943	$	(22,424)	$	(712)	$	143,836

Restatements Adjustments
Opening retained earnings (at May 30, 2021)	—	—		—	—		—		(838)		—		(838)
Net income at August 29, 2021	—	—		—	—		—		90		—		90
Opening retained earnings (at August 29, 2021)	—	—		—	—		—		(748)		—		(748)
Net loss at November 28, 2021	—	—		—	—		—		(30)		—		(30)
Opening retained earnings (at November 28, 2021)	—	—		—	—		—		(666)		—		(666)
Net loss at February 27, 2022	—	—		—	—		—		(500)		—		(500)

As Restated
Balance at May 30, 2021	—	$	—	29,333	$	29	$	165,533	$	37,742	$	(1,358)	$	201,946

Issuance of stock under stock plans, net of shares withheld	—	—		129	—		—		—		—		—
Taxes paid by Company for employee stock plans	—	—		—	—		(428)		—		—		(428)
Stock-based compensation	—	—		—	—		620		—		—		620
Net loss	—	—		—	—		—		(9,387)		—		(9,387)
Other comprehensive income, net of tax	—	—		—	—		—		—		366		366
Balance at August 29, 2021	—	$	—	29,462	$	29	$	165,725	$	28,355	$	(992)	$	193,117

Issuance of stock under stock plans, net of shares withheld	—	—		19	—		—		—		—		—
Taxes paid by Company for employee stock plans	—	—		—	—		(84)		—		—		(84)
Stock-based compensation	—	—		—	—		686		—		—		686
Net loss	—	—		—	—		—		(38,471)		—		(38,471)
Other comprehensive income, net of tax	—	—		—	—		—		—		176		176
Balance at November 28, 2021	—	$	—	29,481	$	29	$	166,327	$	(10,116)	$	(816)	$	155,424

Issuance of stock under stock plans, net of shares withheld	—	—		1	—		—		—		—		—
Taxes paid by Company for employee stock plans	—	—		—	—		(6)		—		—		(6)
Stock-based compensation	—	—		—	—		622		—		—		622
Net loss	—	—		—	—		—		(13,586)		—		(13,586)
Other comprehensive income, net of tax	—	—		—	—		—		—		104		104
Balance at February 27, 2022	—	$	—	29,482	$	29	$	166,943	$	(23,702)	$	(712)	$	142,558

The effects of the restatement on the consolidated statement of cash flows for the nine months ended February 27, 2022 are summarized in the following table:


	Nine Months Ended February 27, 2022
	As Reported		Restatement Adjustment		As Restated
Cash flows from operating activities:
Net loss	$	(61,116)	$	(328)	$	(61,444)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Impairment of goodwill	32,057		—		32,057
Depreciation, amortization of intangibles, debt costs and right-of-use assets	14,488		59		14,547
Loss on disposal of property and equipment related to restructuring, net	5,185		—		5,185
Deferred taxes	(5,471)		—		(5,471)
Loss on sale of Eat Smart	235		—		235
Stock-based compensation expense	1,928		—		1,928
Net loss on disposal of property and equipment held and used	25		—		25
Provision (benefit) for expected credit losses	(14)		—		(14)


Other, net	(551)		—		(551)
Changes in current assets and current liabilities:
Accounts receivable, net	(7,525)		—		(7,525)
Inventory	(11,910)		1,538		(10,372)
Prepaid expenses and other current assets	(1,448)		8		(1,440)
Accounts payable	13,507		27		13,534
Accrued compensation	(2,027)		—		(2,027)
Other accrued liabilities	(70)		—		(70)
Deferred revenue	662		—		662
Net cash (used in) provided by operating activities	(22,045)		1,304		(20,741)

Cash flows from investing activities:
Proceeds from the Sale of Eat Smart	73,500		—		73,500
Sale of investment in non-public company	45,100		—		45,100
Purchases of property and equipment	(18,539)		(1,304)		(19,843)
Eat Smart sale net working capital adjustment	(2,390)		—		(2,390)
Proceeds from sales of property and equipment	1,096		—		1,096
Net cash provided by (used in) investing activities	98,767		(1,304)		97,463

Cash flows from financing activities:

Payments on long-term debt	(86,376)		—		(86,376)
Proceeds from line of credit	45,011		—		45,011
Payments on line of credit	(34,111)		—		(34,111)
Taxes paid by Company for employee stock plans	(518)		—		(518)
Payments for debt issuance costs	(169)		—		(169)
Net cash used in financing activities	(76,163)		—		(76,163)

Net increase in cash, cash equivalents and restricted cash	559		—		559
Cash, cash equivalents and restricted cash, beginning of period	1,295		—		1,295
Cash, cash equivalents and restricted cash, end of period	$	1,854	$	—	$	1,854

Supplemental disclosure of non-cash investing and financing activities:
Purchases of property and equipment on trade vendor credit	$	1,764	$	—	$	1,764


	February 27, 2022
	Balance at beginning of period		Provision (benefit) for expected credit losses	Write offs, net of recoveries	Balance at end of period
Nine months ended February 27, 2022, As Reported	$	5	—	—	$	5
Restatement Adjustment	$	522	—	—	$	522
Nine months ended February 27, 2022, As Restated	$	527	—	—	$	527
Discontinued Operations	$	(5)	—	—	$	(5)
Nine months ended February 27, 2022, As Restated, after Discontinued Operations	$	522	—	—	$	522

The effects of this error on our previously reported inventories as of February 27, 2022 as presented in the Company’s Quarterly Report on Form 10-Q Note 1, are as follows:


	February 27, 2022
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Finished goods	$	42,387	$	52	$	42,439	$	(29,036)	$	13,403
Raw materials	26,644		(1,937)		24,707		(7,294)		17,413
Work in progress	4,669		(706)		3,963		(21)		3,942
Total inventories	$	73,700	$	(2,591)	$	71,109	$	(36,351)	$	34,758


	Three Months Ended February 27, 2022
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Numerator:
Net loss applicable to Common Stockholders	$	(13,086)	$	(500)	$	(13,586)	$	—	$	(13,586)

Denominator:
Weighted average shares for basic net income per share	29,482		—		29,482		—		29,482



Weighted average shares for diluted net income per share	29,482		—		29,482		—		29,482

Diluted net loss per share	$	(0.45)	$	(0.01)	$	(0.46)	$	—	$	(0.46)


	Nine Months Ended February 27, 2022
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Numerator:
Net loss applicable to Common Stockholders	$	(61,116)	$	(328)	$	(61,444)	$	—	$	(61,444)

Denominator:
Weighted average shares for basic net income per share	29,459		—		29,459		—		29,459



Weighted average shares for diluted net income per share	29,459		—		29,459		—		29,459

Diluted net loss per share	$	(2.08)	$	(0.01)	$	(2.09)	$	—	$	(2.09)


	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Contact development and manufacturing organization	$	24,799	$	2	$	24,801	$	—	$	24,801
Fermentation	10,009		—		10,009		—		10,009
Total	$	34,808	$	2	$	34,810	$	—	$	34,810

	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Olive oil and vinegars	$	2,169	$	—	$	2,169	$	(2,169)	$	—
Technology	422		—		422		—		422
Total	$	2,591	$	—	$	2,591	$	(2,169)	$	422


	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Contact development and manufacturing organization	$	63,951	$	40	$	63,991	$	—	$	63,991
Fermentation	17,756		—		17,756		—		17,756
Total	$	81,707	$	40	$	81,747	$	—	$	81,747

	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Olive oil and vinegars	$	7,016	$	—	$	7,016	$	(7,016)	$	—
Technology	1,417		—		1,417		—		1,417
Total	$	8,433	$	—	$	8,433	$	(7,016)	$	1,417


	Three Months Ended February 27, 2022
(in thousands)	Lifecore		Curation Foods		Other		Total
Three Months Ended February 27, 2022, As Reported
Net sales	$	34,808	$	2,591	$	—	$	37,399
Gross profit	12,905		(39)		—		12,866
Net income (loss) from continuing operations	5,054		(5,380)		(6,312)		(6,638)
Loss from discontinued operations, net of tax	—		(3,407)		(3,041)		(6,448)
Depreciation and amortization	1,674		304		18		1,996
Interest income	18		—		2		20
Interest expense	—		26		4,079		4,105
Income tax (benefit) expense, continuing operations	1,596		(1,678)		(5)		(87)
Corporate overhead allocation	1,175		289		(1,464)		—

Restatement Adjustments
Net sales	2		—		—		2
Gross profit	(791)		—		—		(791)
Net (loss) income from continuing operations	2,268		(4,229)		(1,046)		(3,007)
Loss from discontinued operations, net of tax	—		2,507		—		2,507
Depreciation and amortization	24		—		—		24
Interest expense	—		—		(429)		(429)
Income tax (benefit) expense, continuing operations	(3,059)		3,598		1,475		2,014







Three Months Ended February 27, 2022, As Restated
Net sales	$	34,810	$	2,591	$	—	$	37,401
Gross profit	12,114		(39)		—		12,075
Net income (loss) from continuing operations	7,322		(9,609)		(7,358)		(9,645)
Loss from discontinued operations, net of tax	—		(900)		(3,041)		(3,941)
Depreciation and amortization	1,698		304		18		2,020
Interest income	18		—		2		20
Interest expense	—		26		3,650		3,676
Income tax (benefit) expense, continuing operations	(1,463)		1,920		1,470		1,927
Corporate overhead allocation	1,175		289		(1,464)		—


	Nine Months Ended February 27, 2022
(in thousands)	Lifecore		Curation Foods		Other		Total
Nine Months Ended February 27, 2022, As Reported
Net sales	$	81,707	$	8,433	$	—	$	90,140
Gross profit	30,384		1,249		—		31,633
Net income (loss) from continuing operations	11,317		4,640		(27,340)		(11,383)
Loss from discontinued operations, net of tax	—		(46,692)		(3,041)		(49,733)
Depreciation and amortization	4,894		364		70		5,328
Interest income	57		—		9		66
Interest expense	—		300		13,577		13,877
Income tax expense (benefit), continuing operations	3,574		(13,422)		4,257		(5,591)
Corporate overhead allocation	3,389		778		(4,167)		—

Restatement Adjustments
Net sales	40		—		—		40
Gross profit	(1,597)		—		—		(1,597)
Net (loss) income from continuing operations	(2,412)		(10,300)		12,751		39
Loss from discontinued operations, net of tax	—		(367)		—		(367)

Depreciation and amortization	59		—		—		59
Interest expense	—		—		(1,304)		(1,304)
Income tax expense (benefit), continuing operations	815		10,632		(11,447)		—







Nine Months Ended February 27, 2022, As Restated
Net sales	$	81,747	$	8,433	$	—	90,180
Gross profit	28,787		1,249		—		30,036
Net income (loss) from continuing operations	8,905		(5,660)		(14,589)		(11,344)
Loss from discontinued operations, net of tax	—		(47,059)		(3,041)		(50,100)
Depreciation and amortization	4,953		364		70		5,387
Interest income	57		—		9		66
Interest expense	—		300		12,273		12,573
Income tax expense (benefit), continuing operations	4,389		(2,790)		(7,190)		(5,591)
Corporate overhead allocation	3,389		778		(4,167)		—

The effects of this error on our previously reported discontinued operations as of February 27, 2022 as presented in the Company’s Quarterly Report on Form 10-Q Note 9, are as follows:


	Eat Smart - As of May 30, 2021
(in thousands)	As Reported		Restatement		As Restated
ASSETS
Cash and cash equivalents	$	136	$	—	$	136
Accounts receivable, less allowance for credit losses	28,583		—		28,583
Inventories	6,587		—		6,587
Prepaid expenses and other current assets	2,312		(515)		1,797
Total current assets, discontinued operations	37,618		(515)		37,103
Investment in non-public company, fair value	45,100		(45,100)		—
Property and equipment, net	59,273		—		59,273
Operating lease right-of-use assets	3,729		—		3,729
Goodwill	35,470		—		35,470
Trademarks/tradenames, net	8,228		—		8,228
Customer relationships, net	2,260		—		2,260
Other assets	80		—		80
Total other assets, discontinued operations	154,140		(45,100)		109,040
Total assets, discontinued operations	$	191,758	$	(45,615)	$	146,143

LIABILITIES
Accounts payable	31,271		—		31,271
Accrued compensation	4,550		—		4,550
Other accrued liabilities	4,041		350		4,391
Current portion of lease liabilities	2,289		—		2,289
Deferred revenue	493		(350)		143
Total current liabilities, discontinued operations	42,644		—		42,644
Long-term lease liabilities	3,252		—		3,252
Other non-current liabilities	729		—		729
Non-current liabilities, discontinued operations	3,981		—		3,981
Total liabilities, discontinued operations	$	46,625	$	—	$	46,625


	Three Months Ended February 27, 2022
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Asset write-off costs	$	3,693	$	—	$	3,693	$	—	$	3,693
Employee severance and benefit costs	—		—		—		—		—
Lease costs	1,527		—		1,527		—		1,527
Other restructuring costs	50		4		54		—		54
Total restructuring costs	$	5,270	$	4	$	5,274	$	—	$	5,274


	Three Months Ended February 27, 2022
	Curation		Other		Total
Total restructuring costs, As reported	$	5,220	$	50	$	5,270
Restatement adjustments	4		—		4
Total restructuring costs, As restated	$	5,224	$	50	$	5,274


	Nine Months Ended February 27, 2022
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Asset write-off costs	$	3,693	$	(566)	$	3,127	$	—	$	3,127
Employee severance and benefit costs	—		34		34		—		34
Lease costs	1,995		—		1,995		—		1,995
Other restructuring costs	1,842		30		1,872		—		1,872
Total restructuring costs	$	7,530	$	(502)	$	7,028	$	—	$	7,028


	Nine Months Ended February 27, 2022
	Curation		Other		Total
Total restructuring costs, As reported	$	5,686	$	1,844	$	7,530
Restatement adjustments	(502)		—		(502)
Total restructuring costs, As restated	$	5,184	$	1,844	$	7,028

As of and for the three and six months ended November 28, 2021

The effects of the restatement on the consolidated balance sheet as of November 28, 2021 are summarized in the following table:


	November 28, 2021
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
ASSETS
Current Assets:
Cash and cash equivalents	$	1,091	$	—	$	1,091	$	(482)	$	609
Accounts receivable, less allowance for doubtful accounts	65,276		(522)		64,754		(37,259)		27,495
Inventories	79,433		(1,824)		77,609		(37,894)		39,715
Prepaid expenses and other current assets	8,721		(1,622)		7,099		(5,658)		1,441
Current assets, discontinued operations	—		—		—		81,293		81,293
Total Current Assets	154,521		(3,968)		150,553		—		150,553

Property and equipment, net	179,929		3,152		183,081		(74,320)		108,761
Operating lease right-of-use assets	11,979		—		11,979		(4,492)		7,487
Goodwill	37,329		—		37,329		(23,448)		13,881
Trademarks/tradenames, net	25,328		—		25,328		(21,128)		4,200
Customer relationships, net	9,799		—		9,799		(9,671)		128
Other assets	3,239		—		3,239		(156)		3,083
Non-current assets, discontinued operations	—		—		—		133,215		133,215
Total Assets	$	422,124	$	(816)	$	421,308	$	—	$	421,308

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities:
Accounts payable	$	59,098	$	52	$	59,150	$	(50,495)	$	8,655
Accrued compensation	7,214		—		7,214		(3,958)		3,256
Other accrued liabilities	9,804		76		9,880		(6,000)		3,880
Current portion of lease liabilities	2,988		—		2,988		(1,770)		1,218
Deferred revenue	1,160		—		1,160		(193)		967
Line of credit	42,000		—		42,000		—		42,000
Current Liabilities, discontinued operations	—		—		—		62,416		62,416
Total Current Liabilities	122,264		128		122,392		—		122,392

Long-term debt, net	124,194		—		124,194		—		124,194
Long-term lease liabilities	14,203		—		14,203		(2,859)		11,344
Deferred taxes, net	1,367		(166)		1,201		—		1,201
Other non-current liabilities	3,894		—		3,894		(1,962)		1,932
Non-current liabilities, discontinued operations	—		—		—		4,821		4,821
Total Liabilities	265,922		(38)		265,884		—		265,884

Stockholders’ Equity:
Common stock	29		—		29		—		29
Additional paid-in capital	166,327		—		166,327		—		166,327
Accumulated deficit	(9,338)		(778)		(10,116)		—		(10,116)
Accumulated other comprehensive loss	(816)		—		(816)		—		(816)
Total Stockholders’ Equity	156,202		(778)		155,424		—		155,424
Total Liabilities and Stockholders’ Equity	$	422,124	$	(816)	$	421,308	$	—	$	421,308

The effects of the restatement on the consolidated statement of operations and comprehensive income (loss) for the three months November 28, 2021 are summarized in the following table:


	Three Months Ended November 28, 2021
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Product sales	$	43,452	$	38	$	43,490	$	(17,889)	$	25,601
Cost of product sales	28,737		616		29,353		(15,210)		14,143
Gross profit	14,715		(578)		14,137		(2,679)		11,458
Operating costs and expenses:
Research and development	1,856		—		1,856		(176)		1,680
Selling, general and administrative	8,012		82		8,094		(2,633)		5,461

Restructuring costs	707		(80)		627		—		627
Total operating costs and expenses	10,575		2		10,577		(2,809)		7,768
Operating income (loss)	4,140		(580)		3,560		130		3,690


Interest income	19		—		19		—		19
Interest expense	(3,094)		327		(2,767)		—		(2,767)
Other income	79		251		330		—		330
Net income (loss) from continuing operations before taxes	1,144		(2)		1,142		130		1,272
Income tax benefit	3,085		2,147		5,232		1,043		6,275
Net income from continuing operations	4,229		2,145		6,374		1,173		7,547

Discontinued operations:
Loss from discontinued operations	(42,409)		(52)		(42,461)		(130)		(42,591)
Income tax expense	(261)		(2,123)		(2,384)		(1,043)		(3,427)
Loss from discontinued operations, net of tax	(42,670)		(2,175)		(44,845)		(1,173)		(46,018)
Consolidated net loss	$	(38,441)	$	(30)	$	(38,471)	$	—	$	(38,471)



Basic net (loss) income per share:
Income from continuing operations	$	0.14	$	0.07	$	0.21	$	0.04	$	0.25
Loss from discontinued operations	$	(1.44)	$	(0.08)	$	(1.52)	$	(0.04)	$	(1.56)
Total basic net loss per share	$	(1.30)	$	(0.01)	$	(1.31)	$	—	$	(1.31)

Diluted net (loss) income per share:
Income from continuing operations	$	0.14	$	0.07	$	0.21	$	0.04	$	0.25
Loss from discontinued operations	$	(1.44)	$	(0.08)	$	(1.52)	$	(0.04)	$	(1.56)
Total diluted net loss income per share	$	(1.30)	$	(0.01)	$	(1.31)	$	—	$	(1.31)

Shares used in per share computation
Basic	29,471		—		29,471		—		29,471
Diluted	29,471		—		29,471		—		29,471



	Three Months Ended November 28, 2021
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Net (loss) income	$	(38,441)	$	(30)	$	(38,471)	$	—	$	(38,471)
Other comprehensive (loss) income, net of tax:
Net unrealized gains on interest rate swaps, net of tax	176		—		176		—		176
Other comprehensive income, net of tax	176		—		176		—		176
Total comprehensive (loss) income	$	(38,265)	$	(30)	$	(38,295)	$	—	$	(38,295)

The effects of the restatement on the consolidated statement of operations and comprehensive income (loss) for the six months November 28, 2021 are summarized in the following table:


	Six Months Ended November 28, 2021
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Product sales	$	85,084	$	38	$	85,122	$	(37,191)	$	47,931
Cost of product sales	59,934		956		60,890		(29,962)		30,928
Gross profit	25,150		(918)		24,232		(7,229)		17,003
Operating costs and expenses:
Research and development	3,729		—		3,729		(360)		3,369
Selling, general and administrative	17,482		314		17,796		(5,384)		12,412

Restructuring costs	2,541		(786)		1,755		—		1,755
Total operating costs and expenses	23,752		(472)		23,280		(5,744)		17,536
Operating income (loss)	1,398		(446)		952		(1,485)		(533)


Interest income	46		—		46		—		46
Interest expense	(9,772)		875		(8,897)		—		(8,897)
Other income	188		188		376		—		376
Net (loss) income from continuing operations before taxes	(8,140)		617		(7,523)		(1,485)		(9,008)
Income tax benefit	4,736		2,014		6,750		1,332		8,082
Net (loss) income from continuing operations	(3,404)		2,631		(773)		(153)		(926)

Discontinued operations:
(Loss) gain from discontinued operations	(44,714)		(558)		(45,272)		1,485		(43,787)
Income tax benefit (provision)	200		(2,013)		(1,813)		(1,332)		(3,145)
(Loss) gain from discontinued operations, net of tax	(44,514)		(2,571)		(47,085)		153		(46,932)
Consolidated net (loss) income	$	(47,918)	$	60	$	(47,858)	$	—	$	(47,858)



Basic net (loss) income per share:


(Loss) income from continuing operations	$	(0.12)	$	0.09	$	(0.03)	$	(0.01)	$	(0.04)
(Loss) income from discontinued operations	$	(1.51)	$	(0.09)	$	(1.60)	$	0.01	$	(1.59)
Total basic net (loss) income per share	$	(1.63)	$	—	$	(1.63)	$	—	$	(1.63)

Diluted net (loss) income per share:
(Loss) income from continuing operations	$	(0.12)	$	0.09	$	(0.03)	$	(0.01)	$	(0.04)
Loss from discontinued operations	$	(1.51)	$	(0.09)	$	(1.60)	$	0.01	$	(1.59)
Total diluted net (loss) income per share	$	(1.63)	$	—	$	(1.63)	$	—	$	(1.63)

Shares used in per share computation
Basic	29,448		—		29,448		—		29,448
Diluted	29,448		—		29,448		—		29,448

	Six Months Ended November 28, 2021
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations

Net (loss) income	$	(47,918)	$	60	$	(47,858)	$	—	$	(47,858)
Other comprehensive (loss) income, net of tax:
Net unrealized gains on interest rate swaps, net of tax	542		—		542		—		542
Other comprehensive income, net of tax	542		—		542		—		542
Total comprehensive (loss) income	$	(47,376)	$	60	$	(47,316)	$	—	$	(47,316)


	Convertible Preferred Stock			Common Stock			Additional Paid-in Capital		Retained Earnings (Accumulated Deficit)		Accumulated Other Comprehensive Loss		Total Stockholders’ Equity
	Shares	Amount		Shares	Amount
As Reported
Balance at May 30, 2021	—	$	—	29,333	$	29	$	165,533	$	38,580	$	(1,358)	$	202,784
Issuance of stock under stock plans, net of shares withheld	—	—		129	—		—		—		—		—
Taxes paid by Company for employee stock plans	—	—		—	—		(428)		—		—		(428)
Stock-based compensation	—	—		—	—		620		—		—		620
Net loss	—	—		—	—		—		(9,477)		—		(9,477)
Other comprehensive income, net of tax	—	—		—	—		—		—		366		366
Balance at August 29, 2021	—	$	—	29,462	$	29	$	165,725	$	29,103	$	(992)	$	193,865
Issuance of stock under stock plans, net of shares withheld	—	—		19	—		—		—		—		—
Taxes paid by Company for employee stock plans	—	—		—	—		(84)		—		—		(84)
Stock-based compensation	—	—		—	—		686		—		—		686
Net loss	—	—		—	—		—		(38,441)		—		(38,441)
Other comprehensive income, net of tax	—	—		—	—		—		—		176		176


Balance at November 28, 2021	—	$	—	29,481	$	29	$	166,327	$	(9,338)	$	(816)	$	156,202

Restatements Adjustments
Opening retained earnings (at May 30, 2021)	—	—		—	—		—		(838)		—		(838)
Net income at August 29, 2021	—	—		—	—		—		90		—		90
Opening retained earnings (at August 29, 2021)	—	—		—	—		—		(748)		—		(748)
Net loss at November 28, 2021	—	—		—	—		—		(30)		—		(30)


As Restated
Balance at May 30, 2021	—	$	—	29,333	$	29	$	165,533	$	37,742	$	(1,358)	$	201,946

Issuance of stock under stock plans, net of shares withheld	—	—		129	—		—		—		—		—
Taxes paid by Company for employee stock plans	—	—		—	—		(428)		—		—		(428)
Stock-based compensation	—	—		—	—		620		—		—		620
Net loss	—	—		—	—		—		(9,387)		—		(9,387)
Other comprehensive income, net of tax	—	—		—	—		—		—		366		366
Balance at August 29, 2021	—	$	—	29,462	$	29	$	165,725	$	28,355	$	(992)	$	193,117

Issuance of stock under stock plans, net of shares withheld	—	—		19	—		—		—		—		—
Taxes paid by Company for employee stock plans	—	—		—	—		(84)		—		—		(84)
Stock-based compensation	—	—		—	—		686		—		—		686
Net loss	—	—		—	—		—		(38,471)		—		(38,471)
Other comprehensive income, net of tax	—	—		—	—		—		—		176		176
Balance at November 28, 2021	—	$	—	29,481	$	29	$	166,327	$	(10,116)	$	(816)	$	155,424

The effects of the restatement on the consolidated statement of cash flows for the six months ended November 28, 2021 are summarized in the following table:


	Six Months Ended November 28, 2021
	As Reported		Restatement Adjustment		As Restated
Cash flows from operating activities:
Net (loss) income	$	(47,918)	$	60	$	(47,858)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Impairment of goodwill	32,057		—		32,057
Depreciation, amortization of intangibles, debt costs and right-of-use assets	10,959		35		10,994
Deferred taxes	(4,963)		(1)		(4,964)
Stock-based compensation expense	1,306		—		1,306
Provision for expected credit losses	196		—		196
Net loss on disposal of property and equipment held and used	22		—		22
Loss on disposal of property and equipment related to restructuring, net	(92)		—		(92)

Other, net	(111)		—		(111)
Changes in current assets and current liabilities:
Accounts receivable, net	4,541		—		4,541
Inventory	(9,770)		771		(8,999)
Prepaid expenses and other current assets	(1,784)		(154)		(1,938)
Accounts payable	15,148		52		15,200
Accrued compensation	(5,090)		—		(5,090)
Other accrued liabilities	1,163		112		1,275
Deferred revenue	30		—		30
Net cash (used in) provided by operating activities	(4,306)		875		(3,431)

Cash flows from investing activities:
Sale of investment in non-public company	45,100		—		45,100
Purchases of property and equipment	(13,010)		(875)		(13,885)
Proceeds from sales of property and equipment	1,082		—		1,082
Net cash provided by (used in) investing activities	33,172		(875)		32,297

Cash flows from financing activities:
Payments on long-term debt	(41,426)		—		(41,426)
Proceeds from line of credit	26,000		—		26,000
Payments on line of credit	(13,000)		—		(13,000)
Payments for debt issuance costs	(132)		—		(132)
Taxes paid by Company for employee stock plans	(512)		—		(512)
Net cash used in financing activities	(29,070)		—		(29,070)

Net decrease in cash, cash equivalents and restricted cash	(204)		—		(204)
Cash, cash equivalents and restricted cash, beginning of period	1,295		—		1,295
Cash, cash equivalents and restricted cash, end of period	$	1,091	$	—	$	1,091

Supplemental disclosure of non-cash investing and financing activities:
Purchases of property and equipment on trade vendor credit	$	1,105	$	—	$	1,105


	November 28, 2021
	Balance at beginning of period		Provision (benefit) for expected credit losses		Write offs, net of recoveries		Balance at end of period
Six months ended November 28, 2021, As Reported	$	85	$	(14)	$	—	$	71
Restatement Adjustment	$	522	$	—	$	—	$	522
Six months ended November 28, 2021, As Restated	$	607	$	(14)	$	—	$	593
Discontinued Operations	$	(85)	$	14	$	—	$	(71)
Six months ended November 28, 2021, As Restated, after Discontinued Operations	$	522	$	—	$	—	$	522

The effects of this error on our previously reported inventories as of November 28, 2021 as presented in the Company’s Quarterly Report on Form 10-Q Note 1, are as follows:


	November 28, 2021
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Finished goods	$	42,967	$	227	$	43,194	$	(22,309)	$	20,885
Raw materials	31,924		(1,602)		30,322		(15,583)		14,739
Work in progress	4,542		(449)		4,093		(2)		4,091
Total inventories	$	79,433	$	(1,824)	$	77,609	$	(37,894)	$	39,715


	Three Months Ended November 28, 2021
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Numerator:
Net loss applicable to Common Stockholders	$	(38,441)	$	(30)	$	(38,471)	$	—	$	(38,471)

Denominator:
Weighted average shares for basic net income per share	29,471		—		29,471		—		29,471



Weighted average shares for diluted net income per share	29,471		—		29,471		—		29,471

Diluted net loss per share	$	(1.30)	$	(0.01)	$	(1.31)	$	—	$	(1.31)


	Six Months Ended November 28, 2021
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Numerator:
Net (loss) income applicable to Common Stockholders	$	(47,918)	$	60	$	(47,858)	$	—	$	(47,858)

Denominator:
Weighted average shares for basic net income per share	29,448		—		29,448		—		29,448



Weighted average shares for diluted net income per share	29,448		—		29,448		—		29,448

Diluted net (loss) income per share	$	(1.63)	$	—	$	(1.63)	$	—	$	(1.63)


	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Contact development and manufacturing organization	$	21,363	$	38	$	21,401	$	—	$	21,401
Fermentation	3,583		—		3,583		—		3,583
Total	$	24,946	$	38	$	24,984	$	—	$	24,984

	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Avocado Products	$	15,381	$	—	$	15,381	$	(15,381)	$	—
Olive oil and vinegars	2,508		—		2,508		(2,508)		—
Technology	617		—		617		—		617
Total	$	18,506	$	—	$	18,506	$	(17,889)	$	617


	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Contact development and manufacturing organization	$	39,152	$	38	$	39,190	$	—	$	39,190
Fermentation	7,746		—		7,746		—		7,746

Total	$	46,898	$	38	$	46,936	$	—	$	46,936

	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Avocado Products	$	32,343	$	—	$	32,343	$	(32,343)	$	—
Olive oil and vinegars	4,848		—		4,848		(4,848)		—
Technology	995		—		995		—		995
Total	$	38,186	$	—	$	38,186	$	(37,191)	$	995


	Three Months Ended November 28, 2021
(in thousands)	Lifecore		Curation Foods		Other		Total
Three Months Ended November 28, 2021, As Reported
Net sales	$	24,946	$	18,506	$	—	$	43,452
Gross profit	11,715		3,000		—		14,715
Net income (loss) from continuing	5,682		(747)		(706)		4,229
Loss from discontinued operations, net of tax	—		(42,670)		—		(42,670)
Depreciation and amortization	1,673		886		26		2,585
Interest income	19		—		—		19
Interest expense	—		136		2,958		3,094
Income tax (benefit) expense, continuing operations	1,794		(579)		(4,300)		(3,085)
Corporate overhead allocation	1,078		1,231		(2,309)		—

Restatement Adjustments
Net sales	38		—		—		38
Gross profit	(498)		(80)		—		(578)
Net (loss) income from continuing operations	(5,293)		716		6,722		2,145
Loss from discontinued operations, net of tax	—		(2,175)		—		(2,175)
Depreciation and amortization	24		—		—		24
Interest expense	—		—		(327)		(327)
Income tax (benefit) expense, continuing operations	4,795		(547)		(6,395)		(2,147)







Three Months Ended November 28, 2021, As Restated
Net sales	$	24,984	$	18,506	$	—	$	43,490
Gross profit	11,217		2,920		—		14,137
Net income (loss) from continuing	389		(31)		6,016		6,374
Loss from discontinued operations, net of tax	—		(44,845)		—		(44,845)
Depreciation and amortization	1,697		886		26		2,609
Interest income	19		—		—		19
Interest expense	—		136		2,631		2,767
Income tax (benefit) expense, continuing operations	6,589		(1,126)		(10,695)		(5,232)
Corporate overhead allocation	1,078		1,231		(2,309)		—

The effects of this error on our previously reported segment reporting for the six months ended November 28, 2021 as presented in the Company’s Quarterly Report on Form 10-Q Note 7, are as follows.


	Six Months Ended November 28, 2021
(in thousands)	Lifecore		Curation Foods		Other		Total
Six Months Ended November 28, 2021, As Reported
Net sales	$	46,898	$	38,186	$	—	$	85,084
Gross profit	17,479		7,671		—		25,150
Net income (loss) from continuing operations	6,262		(1,030)		(8,636)		(3,404)
Loss from discontinued operations, net of tax	—		(44,514)		—		(44,514)
Depreciation and amortization	3,220		1,767		52		5,039
Interest income	39		—		7		46
Interest expense	—		273		9,499		9,772
Income tax (benefit) expense, continuing operations	1,977		(797)		(5,916)		(4,736)
Corporate overhead allocation	2,215		2,702		(4,917)		—

Restatement Adjustments
Net sales	38		—		—		38
Gross profit	(806)		(112)		—		(918)
Net (loss) income from continuing operations	(5,498)		899		7,230		2,631
Loss from discontinued operations, net of tax	—		(2,571)		—		(2,571)
Depreciation and amortization	35		—		—		35
Interest expense	—		—		(875)		(875)
Income tax (benefit) expense, continuing operations	4,692		(351)		(6,355)		(2,014)







Six Months Ended November 28, 2021, As Restated
Net sales	$	46,936	$	38,186	$	—	$	85,122
Gross profit	16,673		7,559		—		24,232
Net income (loss) from continuing operations	764		(131)		(1,406)		(773)
Loss from discontinued operations, net of tax	—		(47,085)		—		(47,085)
Depreciation and amortization	3,255		1,767		52		5,074
Interest income	39		—		7		46
Interest expense	—		273		8,624		8,897
Income tax (benefit) expense, continuing operations	6,669		(1,148)		(12,271)		(6,750)
Corporate overhead allocation	2,215		2,702		(4,917)		—


	Three Months Ended November 28, 2021
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations



Other restructuring costs	$	707	$	(80)	$	627	$	—	$	627
Total restructuring costs	$	707	$	(80)	$	627	$	—	$	627


	Three Months Ended November 28, 2021
	Curation		Other		Total
Total restructuring costs, As reported	$	(2)	$	709	$	707
Restatement adjustments	(80)		—		(80)
Total restructuring costs, As restated	$	(82)	$	709	$	627


	Six Months Ended November 28, 2021
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Asset write-off costs	$	—	$	(566)	$	(566)	$	—	$	(566)
Employee severance and benefit costs	—		34		34		—		34
Lease costs	$	468	$	—	$	468	$	—	$	468
Other restructuring costs	2,073		(254)		1,819		—		1,819
Total restructuring costs	$	2,541	$	(786)	$	1,755	$	—	$	1,755


	Six Months Ended November 28, 2021
	Curation		Other		Total
Total restructuring costs, As reported	$	466	$	2,075	$	2,541
Restatement adjustments	(786)		—		(786)
Total restructuring costs, As restated	$	(320)	$	2,075	$	1,755

As of and for the three months ended August 29, 2021

The effects of the restatement on the consolidated balance sheet as of August 29, 2021 are summarized in the following table:


	August 29, 2021
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
ASSETS
Current Assets:
Cash and cash equivalents	$	1,447	$	—	$	1,447	$	(508)	$	939
Accounts receivable, less allowance for doubtful accounts	61,956		(522)		61,434		(35,218)		26,216
Inventories	69,415		(1,350)		68,065		(31,196)		36,869
Prepaid expenses and other current assets	9,591		(1,871)		7,720		(6,396)		1,324
Current assets, discontinued operations	—		—		—		73,318		73,318
Total Current Assets	142,409		(3,743)		138,666		—		138,666

Property and equipment, net	180,460		2,849		183,309		(74,909)		108,400
Operating lease right-of-use assets	14,299		—		14,299		(6,603)		7,696
Goodwill	69,386		—		69,386		(55,505)		13,881
Trademarks/tradenames, net	25,328		—		25,328		(21,128)		4,200
Customer relationships, net	10,295		—		10,295		(10,090)		205
Other assets	3,442		—		3,442		(191)		3,251
Non-current assets, discontinued operations	—		—		—		168,426		168,426
Total Assets	$	445,619	$	(894)	$	444,725	$	—	$	444,725


LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities:
Accounts payable	$	46,355	$	—	46,355		$	(37,749)	8,606
Accrued compensation	9,173		—		9,173		(4,438)		4,735
Other accrued liabilities	10,855		(4)		10,851		(6,138)		4,713
Current portion of lease liabilities	4,054		—		4,054		(2,818)		1,236
Deferred revenue	1,216		—		1,216		(147)		1,069
Line of credit	32,000		—		32,000		—		32,000
Current Liabilities, discontinued operations	—		—		—		51,290		51,290
Total Current Liabilities	103,653		(4)		103,649		—		103,649

Long-term debt, net	123,833		—		123,833		—		123,833
Long-term lease liabilities	17,072		—		17,072		(5,417)		11,655
Deferred taxes, net	4,091		(142)		3,949		—		3,949
Other non-current liabilities	3,105		—		3,105		(729)		2,376
Non-current liabilities, discontinued operations	—		—		—		6,146		6,146
Total Liabilities	251,754		(146)		251,608		—		251,608

Stockholders’ Equity:
Common stock	29		—		29		$	—	29


Additional paid-in capital	165,725		—		165,725		—		165,725
Retained earnings (accumulated deficit)	29,103		(748)		28,355		—		28,355
Accumulated other comprehensive loss	(992)		—		(992)		—		(992)
Total Stockholders’ Equity	193,865		(748)		193,117		—		193,117
Total Liabilities and Stockholders’ Equity	$	445,619	$	(894)	$	444,725	$	—	$	444,725

The effects of the restatement on the consolidated statement of operations and comprehensive income (loss) for the three months August 29, 2021 are summarized in the following table:


	Three Months Ended August 29, 2021
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Product sales	$	41,632	$	—	$	41,632	$	(19,302)	$	22,330
Cost of product sales	31,197		340		31,537		(14,752)		16,785
Gross profit	10,435		(340)		10,095		(4,550)		5,545
Operating costs and expenses:
Research and development	1,873		—		1,873		(184)		1,689
Selling, general and administrative	9,470		232		9,702		(2,751)		6,951
Restructuring costs	1,834		(706)		1,128		—		1,128
Total operating costs and expenses	13,177		(474)		12,703		(2,935)		9,768
Operating loss	(2,742)		134		(2,608)		(1,615)		(4,223)


Interest income	27		—		27		—		27
Interest expense	(6,678)		548		(6,130)		—		(6,130)
Other income (expense)	109		(63)		46		—		46
Net (loss) income from continuing operations before taxes	(9,284)		619		(8,665)		(1,615)		(10,280)
Income tax benefit (expense)	1,651		(133)		1,518		289		1,807
Net (loss) income from continuing operations	(7,633)		486		(7,147)		(1,326)		(8,473)

Discontinued operations:
(Loss) gain from discontinued operations	(2,305)		(506)		(2,811)		1,615		(1,196)
Income tax benefit	461		110		571		(289)		282
(Loss) gain from discontinued operations, net of tax	(1,844)		(396)		(2,240)		1,326		(914)
Consolidated net (loss) income	$	(9,477)	$	90	$	(9,387)	$	—	$	(9,387)



Basic net (loss) income per share:
Loss from continuing operations	$	(0.26)	$	0.02	$	(0.24)	$	(0.05)	$	(0.29)
Loss from discontinued operations	$	(0.06)	$	(0.02)	$	(0.08)	$	0.05	$	(0.03)
Total basic net loss per share	$	(0.32)	$	—	$	(0.32)	$	—	$	(0.32)

Diluted net (loss) income per share:
Loss from continuing operations	$	(0.26)	$	0.02	$	(0.24)	$	(0.05)	$	(0.29)


Loss from discontinued operations	$	(0.06)	$	(0.02)	$	(0.08)	$	0.05	$	(0.03)
Total diluted net loss per share	$	(0.32)	$	—	$	(0.32)	$	—	$	(0.32)

Shares used in per share computation
Basic	29,424		—		29,424		—		29,424
Diluted	29,424		—		29,424		—		29,424

	Three Months Ended August 29, 2021
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Net (loss) income	$	(9,477)	$	90	$	(9,387)	$	—	$	(9,387)
Other comprehensive (loss) income, net of tax:
Net unrealized gains on interest rate swaps, net of tax	366		—		366		—		366
Other comprehensive income, net of tax	366		—		366		—		366
Total comprehensive (loss) income	$	(9,111)	$	90	$	(9,021)	$	—	$	(9,021)


	Convertible Preferred Stock				Common Stock			Additional Paid-in Capital		Retained Earnings (Accumulated Deficit)		Accumulated Other Comprehensive Loss		Total Stockholders’ Equity
	Shares		Amount		Shares	Amount
As Reported
Balance at May 30, 2021	—		$	—	29,333	$	29	$	165,533	$	38,580	$	(1,358)	$	202,784
Issuance of stock under stock plans, net of shares withheld	—		—		129	—		—		—		—		—
Taxes paid by Company for employee stock plans	—		—		—	—		(428)		—		—		(428)
Stock-based compensation	—		—		—	—		620		—		—		620
Net loss	—		—		—	—		—		(9,477)		—		(9,477)
Other comprehensive income, net of tax	—		—		—	—		—		—		366		366
Balance at August 29, 2021	$	—	$	—	29,462	$	29	$	165,725	$	29,103	$	(992)	$	193,865

Restatements Adjustments
Opening retained earnings (at May 30, 2021)	—		—		—	—		—		(838)		—		(838)
Net income at August 29, 2021	—		—		—	—		—		90		—		90


As Restated
Balance at May 30, 2021	—		$	—	29,333	$	29	$	165,533	$	37,742	$	(1,358)	$	201,946

Issuance of stock under stock plans, net of shares withheld	—		—		129	—		—		—		—		—
Taxes paid by Company for employee stock plans	—		—		—	—		(428)		—		—		(428)
Stock-based compensation	—		—		—	—		620		—		—		620
Net loss	—		—		—	—		—		(9,387)		—		(9,387)
Other comprehensive income, net of tax	—		—		—	—		—		—		366		366
Balance at August 29, 2021	$	—	$	—	29,462	$	29	$	165,725	$	28,355	$	(992)	$	193,117

The effects of the restatement on the consolidated statement of cash flows for the three months ended August 29, 2021 are summarized in the following table:


	Three Months Ended August 29, 2021
	As Reported		Restatement Adjustment		As Restated
Cash flows from operating activities:
Net (loss) income	$	(9,477)	$	90	$	(9,387)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation, amortization of intangibles, debt costs and right-of-use assets	5,054		11		5,065
Deferred taxes	(2,138)		23		(2,115)
Stock-based compensation expense	620		—		620
Provision for expected credit losses	60		—		60
Net loss on disposal of property and equipment held and used	16		—		16
Loss on disposal of property and equipment related to restructuring, net	(92)		—		(92)
Other, net	(70)		—		(70)
Changes in current assets and current liabilities:
Accounts receivable, net	7,997		—		7,997
Inventory	248		297		545
Prepaid expenses and other current assets	(2,697)		95		(2,602)
Accounts payable	1,517		—		1,517
Accrued compensation	(3,131)		—		(3,131)
Other accrued liabilities	2,838		32		2,870
Deferred revenue	86		—		86
Net cash provided by operating activities	831		548		1,379

Cash flows from investing activities:
Sale of investment in non-public company	45,100		—		45,100
Purchases of property and equipment	(7,913)		(548)		(8,461)
Proceeds from sales of property and equipment	1,082		—		1,082
Net cash provided by (used in) investing activities	38,269		(548)		37,721

Cash flows from financing activities:
Payments on long-term debt	(41,388)		—		(41,388)
Proceeds from line of credit	8,000		—		8,000
Payments on line of credit	(5,000)		—		(5,000)
Payments for debt issuance costs	(132)		—		(132)
Taxes paid by Company for employee stock plans	(428)		—		(428)
Net cash used in financing activities	(38,948)		—		(38,948)

Net increase in cash, cash equivalents and restricted cash	152		—		152
Cash, cash equivalents and restricted cash, beginning of period	1,295		—		1,295
Cash, cash equivalents and restricted cash, end of period	$	1,447	$	—	$	1,447

Supplemental disclosure of non-cash investing and financing activities:
Purchases of property and equipment on trade vendor credit	$	1,994	$	—	$	1,994


	August 29, 2021
	Balance at beginning of period		Provision (benefit) for expected credit losses	Write offs, net of recoveries	Balance at end of period
Three months ended August 29, 2021, As Reported	$	85	—	—	$	85
Restatement Adjustment	$	522	—	—	$	522
Three months ended August 29, 2021, As Restated	$	607	—	—	$	607
Discontinued Operations	$	(85)	—	—	$	(85)
Three months ended August 29, 2021, As Restated, after Discontinued Operations	$	522	—	—	$	522

The effects of this error on our previously reported inventories as of August 29, 2021 as presented in the Company’s Quarterly Report on Form 10-Q Note 1, are as follows:


	August 29, 2021
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Finished goods	$	35,142	$	180	$	35,322	$	(16,278)	$	19,044
Raw materials	30,344		(1,088)		29,256		(14,914)		14,342
Work in progress	3,929		(442)		3,487		(4)		3,483
Total inventories	$	69,415	$	(1,350)	$	68,065	$	(31,196)	$	36,869


	Three Months Ended August 29, 2021
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Numerator:
Net (loss) income applicable to Common Stockholders	$	(9,477)	$	90	$	(9,387)	$	—	$	(9,387)

Denominator:
Weighted average shares for basic net income per share	29,424		—		29,424		—		29,424



Weighted average shares for diluted net income per share	29,424		—		29,424		—		29,424

Diluted net loss per share	$	(0.32)	$	—	$	(0.32)	$	—	$	(0.32)


	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Contact development and manufacturing organization	$	17,789	$	—	$	17,789	$	—	$	17,789
Fermentation	4,163		—		4,163		—		4,163

Total	$	21,952	$	—	$	21,952	$	—	$	21,952

	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Avocado Products	$	16,962	$	—	$	16,962	$	(16,962)	$	—
Olive oil and vinegars	2,340		—		2,340		(2,340)		—
Technology	378		—		378		—		378
Total	$	19,680	$	—	$	19,680	$	(19,302)	$	378

The effects of this error on our previously reported segment reporting for the three months ended August 29, 2021 as presented in the Company’s Quarterly Report on Form 10-Q Note 7, are as follows.


	Three Months Ended August 29, 2021
(in thousands)	Lifecore		Curation Foods		Other		Total
Three Months Ended August 29, 2021, As Reported
Net sales	$	21,952	$	19,680	$	—	$	41,632
Gross profit	5,764		4,671		—		10,435
Net income (loss) from continuing operations	580		(284)		(7,929)		(7,633)
Loss from discontinued operations, net of taxes	—		(1,844)		—		(1,844)
Depreciation and amortization	1,547		881		26		2,454
Interest income	20		—		7		27
Interest expense	—		137		6,541		6,678
Income tax (benefit) expense, continuing operations	183		(218)		(1,616)		(1,651)
Corporate overhead allocation	1,137		1,471		(2,608)		—

Restatement Adjustments
Net sales	—		—		—		—
Gross profit	(308)		(32)		—		(340)
Net (loss) income from continuing operations	(205)		183		508		486
Loss from discontinued operations, net of taxes	—		(396)		—		(396)
Depreciation and amortization	11		—		—		11
Interest expense	—		—		(548)		(548)
Income tax (benefit) expense, continuing operations	(103)		196		40		133







Three Months Ended August 29, 2021, As Restated
Net sales	$	21,952	$	19,680	$	—	$	41,632
Gross profit	5,456		4,639		—		10,095
Net income (loss) from continuing operations	375		(101)		(7,421)		(7,147)
Loss from discontinued operations, net of taxes	—		(2,240)		—		(2,240)
Depreciation and amortization	1,558		881		26		2,465
Interest income	20		—		7		27
Interest expense	—		137		5,993		6,130
Income tax (benefit) expense, continuing operations	80		(22)		(1,576)		(1,518)
Corporate overhead allocation	1,137		1,471		(2,608)		—


	Three Months Ended August 29, 2021
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Asset write-off costs	$	—	$	(566)	$	(566)	$	—	$	(566)
Employee severance and benefit costs	—		34		34		—		34
Lease costs	$	468	$	—	$	468	$	—	$	468
Other restructuring costs	1,366		(174)		1,192		—		1,192
Total restructuring costs	$	1,834	$	(706)	$	1,128	$	—	$	1,128


	Three Months Ended August 29, 2021
	Curation		Other		Total
Total restructuring costs, As reported	$	468	$	1,366	$	1,834
Restatement adjustments	(706)		—		(706)
Total restructuring costs, As restated	$	(238)	$	1,366	$	1,128

As of and for the three and nine months ended February 28, 2021

The effects of the restatement on the consolidated balance sheet as of February 28, 2021 are summarized in the following table:


	February 28, 2021
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
ASSETS
Current Assets:
Cash and cash equivalents	$	2,248	$	—	$	2,248	$	(395)	$	1,853
Accounts receivable, less allowance for doubtful accounts	69,577		—		69,577		(40,714)		28,863
Inventories	76,779		(1,473)		75,306		(43,865)		31,441
Prepaid expenses and other current assets	14,323		(3,132)		11,191		(5,245)		5,946
Current assets, discontinued operations	—		—		—		90,219		90,219
Total Current Assets	162,927		(4,605)		158,322		—		158,322

Investment in non-public company, fair value	45,100		—		45,100		—		45,100
Property and equipment, net	168,693		1,644		170,337		(74,548)		95,789
Operating lease right-of-use assets	23,528		—		23,528		(8,125)		15,403
Goodwill	69,386		—		69,386		(55,505)		13,881
Trademarks/tradenames, net	25,328		—		25,328		(21,128)		4,200
Customer relationships, net	11,288		—		11,288		(10,929)		359
Other assets	3,573		—		3,573		(198)		3,375
Non-current assets, discontinued operations	—		—		—		170,433		170,433
Total Assets	$	509,823	$	(2,961)	$	506,862	$	—	$	506,862

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities:
Accounts payable	$	56,323	$	—	$	56,323	$	(47,436)	$	8,887
Accrued compensation	11,218		—		11,218		(4,794)		6,424
Other accrued liabilities	11,186		314		11,500		(5,724)		5,776
Current portion of lease liabilities	4,027		—		4,027		(3,022)		1,005
Deferred revenue	1,595		(350)		1,245		(505)		740
Line of credit	41,000		—		41,000		—		41,000
Current Liabilities, discontinued operations	—		—		—		61,481		61,481
Total Current Liabilities	125,349		(36)		125,313		—		125,313

Long-term debt, net	145,051		—		145,051		—		145,051
Long-term lease liabilities	24,430		—		24,430		(6,511)		17,919
Deferred taxes, net	6,608		(504)		6,104		—		6,104
Other non-current liabilities	3,761		—		3,761		(729)		3,032
Non-current liabilities, discontinued operations	—		—		—		7,240		7,240
Total Liabilities	305,199		(540)		304,659		—		304,659


Stockholders’ Equity:
Common stock	29		—		29		—		29
Additional paid-in capital	164,865		—		164,865		—		164,865
Retained earnings (accumulated deficit)	41,446		(2,421)		39,025		—		39,025
Accumulated other comprehensive loss	(1,716)		—		(1,716)		—		(1,716)
Total Stockholders’ Equity	204,624		(2,421)		202,203		—		202,203
Total Liabilities and Stockholders’ Equity	$	509,823	$	(2,961)	$	506,862	$	—	$	506,862

The effects of the restatement on the consolidated statement of operations and comprehensive income (loss) for the three months February 28, 2021 are summarized in the following table:


	Three Months Ended February 28, 2021
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Product sales	$	44,690	$	142	$	44,832	$	(17,025)	$	27,807
Cost of product sales	30,249		1,037		31,286		(14,409)		16,877
Gross profit	14,441		(895)		13,546		(2,616)		10,930
Operating costs and expenses:
Research and development	1,843		—		1,843		(206)		1,637
Selling, general and administrative	8,134		1,304		9,438		(2,289)		7,149
Restructuring costs	2,023		48		2,071		—		2,071
Total operating costs and expenses	12,000		1,352		13,352		(2,495)		10,857
Operating income (loss)	2,441		(2,247)		194		(121)		73


Interest income	13		—		13		—		13
Interest expense	(2,939)		377		(2,562)		—		(2,562)
Transition services income	(1,110)		—		(1,110)		—		(1,110)
Other income (expense)	72		233		305		—		305
Net loss from continuing operations before taxes	(1,523)		(1,637)		(3,160)		(121)		(3,281)
Income tax benefit	58		339		397		1,133		1,530
Net loss from continuing operations	(1,465)		(1,298)		(2,763)		1,012		(1,751)

Discontinued operations:
(Loss) gain from discontinued operations	(4,192)		(233)		(4,425)		121		(4,304)
Income tax benefit (provision)	159		51		210		(1,133)		(923)
(Loss) gain from discontinued operations, net of tax	(4,033)		(182)		(4,215)		(1,012)		(5,227)
Consolidated net loss	$	(5,498)	$	(1,480)	$	(6,978)	$	—	$	(6,978)



Basic net (loss) income per share:
Loss from continuing operations	$	(0.05)	$	(0.04)	$	(0.09)	$	0.03	$	(0.06)
Loss from discontinued operations	$	(0.14)	$	(0.01)	$	(0.15)	$	(0.03)	$	(0.18)
Total basic net loss per share	$	(0.19)	$	(0.05)	$	(0.24)	$	—	$	(0.24)

Diluted net (loss) income per share:
Loss from continuing operations	$	(0.05)	$	(0.04)	$	(0.09)	$	0.03	$	(0.06)
Loss from discontinued operations	$	(0.14)	$	(0.01)	$	(0.15)	$	(0.03)	$	(0.18)
Total diluted net loss per share	$	(0.19)	$	(0.05)	$	(0.24)	$	—	$	(0.24)

Shares used in per share computation
Basic	29,323		—		29,323		—		29,323
Diluted	29,323		—		29,323		—		29,323



	Three Months Ended February 28, 2021
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Net loss	$	(5,498)	$	(1,480)	$	(6,978)	$	—	$	(6,978)
Other comprehensive (loss) income, net of tax:
Net unrealized gains on interest rate swaps, net of tax	387		—		387		—		387
Other comprehensive income, net of tax	387		—		387		—		387
Total comprehensive loss	$	(5,111)	$	(1,480)	$	(6,591)	$	—	$	(6,591)

The effects of the restatement on the consolidated statement of operations and comprehensive income (loss) for the nine months February 28, 2021 are summarized in the following table:


	Nine Months Ended February 28, 2021
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Product sales	$	126,629	$	394	$	127,023	$	(52,749)	$	74,274
Cost of product sales	90,739		1,347		92,086		(44,808)		47,278
Gross profit	35,890		(953)		34,937		(7,941)		26,996
Operating costs and expenses:
Research and development	5,523		—		5,523		(555)		4,968
Selling, general and administrative	27,968		1,338		29,306		(7,958)		21,348
Legal settlement charge	1,763		(1,763)		—		—		—
Restructuring costs	2,826		7,011		9,837		—		9,837
Total operating costs and expenses	38,080		6,586		44,666		(8,513)		36,153
Operating (loss) income	(2,190)		(7,539)		(9,729)		572		(9,157)


Interest income	31		—		31		—		31
Interest expense	(6,609)		786		(5,823)		—		(5,823)
Transition services income	(1,110)		—		(1,110)		—		(1,110)
Other income (expense)	64		(10,984)		(10,920)		—		(10,920)
Net (loss) income from continuing operations before taxes	(9,814)		(17,737)		(27,551)		572		(26,979)
Income tax benefit	1,025		3,877		4,902		(127)		4,775
Net (loss) income from continuing operations	(8,789)		(13,860)		(22,649)		445		(22,204)

Discontinued operations:
Loss from discontinued operations	(27,210)		16,205		(11,005)		(572)		(11,577)
Income tax benefit	6,200		(3,557)		2,643		127		2,770
Loss from discontinued operations, net of tax	(21,010)		12,648		(8,362)		(445)		(8,807)
Consolidated net loss	$	(29,799)	$	(1,212)	$	(31,011)	$	—	$	(31,011)



Basic net (loss) income per share:
(Loss) income from continuing operations	$	(0.30)	$	(0.47)	$	(0.77)	$	0.01	$	(0.76)
Loss from discontinued operations	$	(0.72)	$	0.43	$	(0.29)	$	(0.01)	$	(0.30)


Total basic net loss per share	$	(1.02)	$	(0.04)	$	(1.06)	$	—	$	(1.06)

Diluted net (loss) income per share:
(Loss) income from continuing operations	$	(0.30)	$	(0.47)	$	(0.77)	$	0.01	$	(0.76)
Loss from discontinued operations	$	(0.72)	$	0.43	$	(0.29)	$	(0.01)	$	(0.30)
Total diluted net loss per share	$	(1.02)	$	(0.04)	$	(1.06)	$	—	$	(1.06)

Shares used in per share computation
Basic	29,282		—		29,282		—		29,282
Diluted	29,282		—		29,282		—		29,282

	Nine Months Ended February 28, 2021
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations

Net loss	$	(29,799)	$	(1,212)	$	(31,011)	$	—	$	(31,011)
Other comprehensive (loss) income, net of tax:
Net unrealized gains on interest rate swaps, net of tax	1,092		—		1,092		—		1,092
Other comprehensive income, net of tax	1,092		—		1,092		—		1,092
Total comprehensive loss	$	(28,707)	$	(1,212)	$	(29,919)	$	—	$	(29,919)


	Convertible Preferred Stock			Common Stock			Additional Paid-in Capital		Retained Earnings (Accumulated Deficit)		Accumulated Other Comprehensive Loss		Total Stockholders’ Equity
	Shares	Amount		Shares	Amount
As Reported
Balance at May 31, 2020	—	$	—	29,224	$	29	$	162,578	$	71,245	$	(2,808)	$	231,044
Issuance of stock under stock plans	—	—		18	—		—		—		—		—
Taxes paid by Company for employee stock plans	—	—		—	—		(82)		—		—		(82)
Stock-based compensation	—	—		—	—		892		—		—		892
Net loss	—	—		—	—		—		(11,000)		—		(11,000)
Other comprehensive income, net of tax	—	—		—	—		—		—		304		304
Balance at August 30, 2020	—	$	—	29,242	$	29	$	163,388	$	60,245	$	(2,504)	$	221,158
Issuance of stock under stock plans	—	—		81	—		—		—		—		—
Taxes paid by Company for employee stock plans	—	—		—	—		(215)		—		—		(215)
Stock-based compensation	—	—		—	—		895		—		—		895
Net loss	—	—		—	—		—		(13,301)		—		(13,301)
Other comprehensive income, net of tax	—	—		—	—		—		—		401		401
Balance at November 29, 2020	—	$	—	29,323	$	29	$	164,068	$	46,944	$	(2,103)	$	208,938
Stock-based compensation	—	—		—	—		797		—		—		797
Net loss	—	—		—	—		—		(5,498)		—		(5,498)


Other comprehensive income, net of tax	—	—		—	—		—		—		387		387
Balance at February 28, 2021	—	$	—	29,323	$	29	$	164,865	$	41,446	$	(1,716)	$	204,624

Restatements Adjustments
Opening retained earnings (at May 31, 2020)	—	—		—	—		—		(1,209)		—		(1,209)
Net income (loss) at August 30, 2020	—	—		—	—		—		(1,410)		—		(1,410)
Opening retained earnings (at August 30, 2020)	—	—		—	—		—		(2,619)		—		(2,619)
Net income (loss) at November 29, 2020	—	—		—	—		—		1,678		—		1,678
Opening retained earnings (at February 28, 2021)	—	—		—	—		—		(941)		—		(941)
Net income (loss) at February 28, 2021	—	—		—	—		—		(1,480)		—		(1,480)

As Restated
Balance at May 31, 2020	—	$	—	29,224	$	29	$	162,578	$	70,036	$	(2,808)	$	229,835

Issuance of stock under stock plans	—	—		18	—		—		—		—		—
Taxes paid by Company for employee stock plans	—	—		—	—		(82)		—		—		(82)
Stock-based compensation	—	—		—	—		892		—		—		892
Net loss	—	—		—	—		—		(12,410)		—		(12,410)
Other comprehensive income, net of tax	—	—		—	—		—		—		304		304
Balance at August 30, 2020	—	$	—	29,242	$	29	$	163,388	$	57,626	$	(2,504)	$	218,539

Issuance of stock under stock plans	—	—		81	—		—		—		—		—
Taxes paid by Company for employee stock plans	—	—		—	—		(215)		—		—		(215)
Stock-based compensation	—	—		—	—		895		—		—		895
Net loss	—	—		—	—		—		(11,623)		—		(11,623)
Other comprehensive income, net of tax	—	—		—	—		—		—		401		401
Balance at November 29, 2020	—	$	—	29,323	$	29	$	164,068	$	46,003	$	(2,103)	$	207,997

Stock-based compensation	—	—		—	—		797		—		—		797
Net loss	—	—		—	—		—		(6,978)		—		(6,978)
Other comprehensive income, net of tax	—	—		—	—		—		—		387		387
Balance at February 28, 2021	—	$	—	29,323	$	29	$	164,865	$	39,025	$	(1,716)	$	202,203

The effects of the restatement on the consolidated statement of cash flows for the nine months ended February 28, 2021 are summarized in the following table:


	Nine Months Ended February 28, 2021
	As Reported		Restatement Adjustment		As Restated
Cash flows from operating activities:
Net loss	$	(29,799)	$	(1,212)	$	(31,011)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation, amortization of intangibles, debt costs and right-of-use assets	14,808		—		14,808
Loss on debt refinancing	1,110		—		1,110
Stock-based compensation expense	2,584		—		2,584
Provision for expected credit losses	284		—		284
Deferred taxes	(7,307)		(320)		(7,627)
Change in investment in non-public company, fair value	11,800		—		11,800
Net loss on disposal of property and equipment held and used	39		—		39
Loss on disposal of property and equipment related to restructuring, net	7,881		—		7,881
Other, net	(12)		—		(12)


Changes in current assets and current liabilities:
Accounts receivable, net	6,345		—		6,345
Inventory	(10,468)		953		(9,515)
Prepaid expenses and other current assets	350		1,365		1,715
Accounts payable	6,372		—		6,372
Accrued compensation	2,184		—		2,184
Other accrued liabilities	3,186		350		3,536
Deferred revenue	1,243		(350)		893
Net cash provided by operating activities	10,600		786		11,386

Cash flows from investing activities:
Proceeds from sales of property and equipment	12,885		—		12,885
Purchases of property and equipment	(11,383)		(786)		(12,169)

Net cash provided by (used in) investing activities	1,502		(786)		716

Cash flows from financing activities:
Proceeds from long-term debt	150,000		—		150,000
Payments on line of credit	(119,400)		—		(119,400)
Payments on long-term debt	(114,095)		—		(114,095)
Proceeds from line of credit	83,000		—		83,000
Payments for debt issuance costs	(9,615)		—		(9,615)
Taxes paid by Company for employee stock plans	(297)		—		(297)

Net cash used in financing activities	(10,407)		—		(10,407)

Net increase in cash, cash equivalents and restricted cash	1,695		—		1,695
Cash, cash equivalents and restricted cash, beginning of period	553		—		553
Cash, cash equivalents and restricted cash, end of period	$	2,248	$	—	$	2,248

Supplemental disclosure of non-cash investing and financing activities:
Purchases of property and equipment on trade vendor credit	$	1,124	$	—	$	1,124


	February 28, 2021
	Balance at beginning of period		Provision (benefit) for expected credit losses	Write offs, net of recoveries	Balance at end of period
Nine months ended February 28, 2021, As Reported	$	186	284	(385)	$	85

Nine months ended February 28, 2021, As Restated	$	186	284	(385)	$	85
Discontinued Operations	$	(186)	(284)	385	$	(85)
Nine months ended February 28, 2021, As Restated, after Discontinued Operations	$	—	—	—	$	—

The effects of this error on our previously reported inventories as of February 28, 2021 as presented in the Company’s Quarterly Report on Form 10-Q Note 1, are as follows:


	February 28, 2021
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Finished goods	$	41,533	$	(5)	$	41,528	$	(28,877)	$	12,651
Raw materials	26,855		(863)		25,992		(14,983)		11,009
Work in progress	8,391		(605)		7,786		(5)		7,781
Total inventories	$	76,779	$	(1,473)	$	75,306	$	(43,865)	$	31,441


	Three Months Ended February 28, 2021
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Numerator:
Net loss applicable to Common Stockholders	$	(5,498)	$	(1,480)	$	(6,978)	$	—	$	(6,978)

Denominator:
Weighted average shares for basic net income per share	29,323		—		29,323		—		29,323



Weighted average shares for diluted net income per share	29,323		—		29,323		—		29,323

Diluted net loss per share	$	(0.19)	$	(0.05)	$	(0.24)	$	—	$	(0.24)


	Nine Months Ended February 28, 2021
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Numerator:
Net loss applicable to Common Stockholders	$	(29,799)	$	(1,212)	$	(31,011)	$	—	$	(31,011)

Denominator:
Weighted average shares for basic net income per share	29,282		—		29,282		—		29,282



Weighted average shares for diluted net income per share	29,282		—		29,282		—		29,282

Diluted net loss per share	$	(1.02)	$	(0.04)	$	(1.06)	$	—	$	(1.06)


	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Contact development and manufacturing organization	$	18,628	$	142	$	18,770	$	—	$	18,770
Fermentation	8,597		—		8,597		—		8,597

Total	$	27,225	$	142	$	27,367	$	—	$	27,367

	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Avocado Products	$	15,378	$	—	$	15,378	$	(15,378)	$	—
Olive oil and vinegars	1,647		—		1,647		(1,647)		—
Technology	440		—		440		—		440
Total	$	17,465	$	—	$	17,465	$	(17,025)	$	440


	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Contact development and manufacturing organization	$	53,374	$	394	$	53,768	$	—	$	53,768
Fermentation	18,874		—		18,874		—		18,874

Total	$	72,248	$	394	$	72,642	$	—	$	72,642

	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Avocado Products	$	47,107	$	—	$	47,107	$	(47,107)	$	—
Olive oil and vinegars	5,642		—		5,642		(5,642)		—
Technology	1,632		—		1,632		—		1,632
Total	$	54,381	$	—	$	54,381	$	(52,749)	$	1,632


	Three Months Ended February 28, 2021
(in thousands)	Lifecore		Curation Foods		Other		Total
Three Months Ended February 28, 2021, As Reported
Net sales	$	27,225	$	17,465	$	—	$	44,690
Gross profit	11,561		2,880		—		14,441
Net income (loss) from continuing operations	5,104		(394)		(6,175)		(1,465)
Loss from discontinued operations, net of tax	—		(4,033)		—		(4,033)
Depreciation and amortization	1,385		830		22		2,237
Interest income	—		—		13		13
Interest expense	—		136		2,803		2,939
Income tax (benefit) expense, continuing operations	1,612		(1,614)		(56)		(58)
Corporate overhead allocation	1,102		87		(1,189)		—

Restatement Adjustments
Net sales	142		—		—		142
Gross profit	(895)		—		—		(895)
Net income (loss) from continuing operations	(14)		(2,340)		1,056		(1,298)
Loss from discontinued operations, net of tax	—		(182)		—		(182)
Interest expense	—		—		(377)		(377)
Income tax (benefit) expense, continuing operations	(881)		1,221		(679)		(339)






Three Months Ended February 28, 2021, As Restated
Net sales	$	27,367	$	17,465	$	—	$	44,832
Gross profit	10,666		2,880		—		13,546
Net income (loss) from continuing operations	5,090		(2,734)		(5,119)		(2,763)
Loss from discontinued operations, net of tax	—		(4,215)		—		(4,215)
Depreciation and amortization	1,385		830		22		2,237
Interest income	—		—		13		13
Interest expense	—		136		2,426		2,562
Income tax (benefit) expense, continuing operations	731		(393)		(735)		(397)
Corporate overhead allocation	1,102		87		(1,189)		—


	Nine Months Ended February 28, 2021
(in thousands)	Lifecore		Curation Foods		Other		Total
Nine Months Ended February 28, 2021, As Reported
Net sales	$	72,248	$	54,381	$	—	$	126,629
Gross profit	27,036		8,854		—		35,890
Net income (loss) from continuing operations	9,708		(1,346)		(17,151)		(8,789)
Loss from discontinued operations, net of taxes	—		(21,010)		—		(21,010)

Depreciation and amortization	4,055		2,451		76		6,582
Interest income	—		—		31		31
Interest expense	—		410		6,199		6,609
Income tax (benefit) expense, continuing operations	3,066		(2,095)		(1,996)		(1,025)
Corporate overhead allocation	3,668		621		(4,289)		—

Restatement Adjustments
Net sales	394		—		—		394
Gross profit	(953)		—		—		(953)
Net (loss) income	10		(15,927)		2,057		(13,860)
Loss from discontinued operations, net of taxes	—		12,648		—		12,648
Interest expense	—		—		(786)		(786)
Income tax (benefit) expense, continuing operations	(963)		(1,643)		(1,271)		(3,877)






Nine Months Ended February 28, 2021, As Restated
Net sales	$	72,642	$	54,381	$	—	$	127,023
Gross profit	26,083		8,854		—		34,937
Net income (loss) from continuing operations	9,718		(17,273)		(15,094)		(22,649)
Loss from discontinued operations, net of taxes	—		(8,362)		—		(8,362)

Depreciation and amortization	4,055		2,451		76		6,582
Interest income	—		—		31		31
Interest expense	—		410		5,413		5,823
Income tax (benefit) expense, continuing operations	2,103		(3,738)		(3,267)		(4,902)
Corporate overhead allocation	3,668		621		(4,289)		—


	Three Months Ended February 28, 2021
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Asset write-off costs	$	1,897	$	(20)	$	1,877	$	—	$	1,877
Employee severance and benefit costs	—		65		65		—		65

Other restructuring costs	126		3		129		—		129
Total restructuring costs	$	2,023	$	48	$	2,071	$	—	$	2,071


	Three Months Ended February 28, 2021
	Curation		Other		Total
Total restructuring costs, As reported	$	1,908	$	115	$	2,023
Restatement adjustments	48		—		48
Total restructuring costs, As restated	$	1,956	$	115	$	2,071


	Nine Months Ended February 28, 2021
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Asset write-off costs	$	1,897	$	5,985	$	7,882	$	—	$	7,882
Employee severance and benefit costs	—		116		116		—		116

Other restructuring costs	929		910		1,839		—		1,839
Total restructuring costs	$	2,826	$	7,011	$	9,837	$	—	$	9,837


	Nine Months Ended February 28, 2021
	Curation		Other		Total
Total restructuring costs, As reported	$	1,908	$	918	$	2,826
Restatement adjustments	7,011		—		7,011
Total restructuring costs, As restated	$	8,919	$	918	$	9,837

As of and for the three and six months ended November 29, 2020

The effects of the restatement on the consolidated balance sheet as of November 29, 2020 are summarized in the following table:


	November 29, 2020
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
ASSETS
Current Assets:
Cash and cash equivalents	$	2,491	$	—	$	2,491	$	(15)	$	2,476
Accounts receivable, less allowance for doubtful accounts	66,545		—		66,545		(36,945)		29,600
Inventories	71,202		(578)		70,624		(38,220)		32,404
Prepaid expenses and other current assets	13,949		(1,780)		12,169		(5,374)		6,795
Current assets, discontinued operations	—		—		—		80,554		80,554
Total Current Assets	154,187		(2,358)		151,829		—		151,829

Investment in non-public company, fair value	45,100		—		45,100		—		45,100
Property and equipment, net	170,973		1,267		172,240		(77,252)		94,988
Operating lease right-of-use assets	21,070		—		21,070		(8,379)		12,691
Goodwill	69,386		—		69,386		(55,505)		13,881
Trademarks/tradenames, net	25,328		—		25,328		(21,128)		4,200
Customer relationships, net	11,784		—		11,784		(11,348)		436
Other assets	1,332		—		1,332		(200)		1,132
Non-current assets, discontinued operations	—		—		—		173,812		173,812
Total Assets	$	499,160	$	(1,091)	$	498,069	$	—	$	498,069

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities:
Accounts payable	$	60,892	$	—	$	60,892	$	(52,907)	$	7,985
Accrued compensation	7,689		—		7,689		(3,561)		4,128
Other accrued liabilities	12,715		(36)		12,679		(6,564)		6,115
Current portion of lease liabilities	3,785		—		3,785		(3,075)		710
Deferred revenue	644		—		644		(347)		297
Line of credit	77,000		—		77,000		—		77,000
Current portion of long-term debt	11,189		—		11,189		—		11,189
Current Liabilities, discontinued operations	—		—		—		66,454		66,454
Total Current Liabilities	173,914		(36)		173,878		—		173,878

Long-term debt, net	82,000		—		82,000		—		82,000
Long-term lease liabilities	22,206		—		22,206		(6,731)		15,475
Deferred taxes, net	6,745		(114)		6,631		—		6,631
Other non-current liabilities	5,357		—		5,357		(1,333)		4,024
Non-current liabilities, discontinued operations	—		—		—		8,064		8,064
Total Liabilities	290,222		(150)		290,072		—		290,072

Stockholders’ Equity:


Common stock	29		—		29		$	—	29
Additional paid-in capital	164,068		—		164,068		—		164,068
Retained earnings (accumulated deficit)	46,944		(941)		46,003		—		46,003
Accumulated other comprehensive loss	(2,103)		—		(2,103)		—		(2,103)
Total Stockholders’ Equity	208,938		(941)		207,997		—		207,997
Total Liabilities and Stockholders’ Equity	$	499,160	$	(1,091)	$	498,069	$	—	$	498,069

The effects of the restatement on the consolidated statement of operations and comprehensive income (loss) for the three months November 29, 2020 are summarized in the following table:


	Three Months Ended November 29, 2020
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Product sales	$	130,904	$	24	$	130,928	$	(107,136)	$	23,792
Cost of product sales	110,267		(18)		110,249		(97,231)		13,018
Gross profit	20,637		42		20,679		(9,905)		10,774
Operating costs and expenses:
Research and development	2,572		—		2,572		(981)		1,591
Selling, general and administrative	16,106		—		16,106		(9,396)		6,710
Legal settlement charge	1,763		(1,763)		—		—		—
Restructuring costs	1,662		—		1,662		(563)		1,099
Total operating costs and expenses	22,103		(1,763)		20,340		(10,940)		9,400
Operating (loss) income	(1,466)		1,805		339		1,035		1,374

Dividend income	281		—		281		(281)		—
Interest income	10		—		10		—		10
Interest expense	(3,039)		204		(2,835)		1,239		(1,596)
Other (expense) income	(11,787)		1,800		(9,987)		281		(9,706)
Net (loss) income from continuing operations before taxes	(16,001)		3,809		(12,192)		2,274		(9,918)
Income tax benefit (expense)	2,700		(731)		1,969		(441)		1,528
Net (loss) income from continuing operations	(13,301)		3,078		(10,223)		1,833		(8,390)

Discontinued operations:
Loss from discontinued operations	—		(1,763)		(1,763)		(2,274)		(4,037)
Income tax benefit	—		363		363		441		804
Loss from discontinued operations, net of tax	—		(1,400)		(1,400)		(1,833)		(3,233)
Consolidated net (loss) income	$	(13,301)	$	1,678	$	(11,623)	$	—	$	(11,623)



Basic net (loss) income per share:
(Loss) income from continuing operations	$	(0.45)	$	0.10	$	(0.35)	$	0.06	$	(0.29)
Loss from discontinued operations	$	—	$	(0.05)	$	(0.05)	$	(0.06)	$	(0.11)
Total basic net (loss) income per share	$	(0.45)	$	0.05	$	(0.40)	$	—	$	(0.40)

Diluted net (loss) income per share:
(Loss) income from continuing operations	$	(0.45)	$	0.10	$	(0.35)	$	0.06	$	(0.29)
Loss from discontinued operations	$	—	$	(0.05)	$	(0.05)	$	(0.06)	$	(0.11)
Total diluted net (loss) income per share	$	(0.45)	$	0.05	$	(0.40)	$	—	$	(0.40)



Shares used in per share computation
Basic	29,280		—		29,280		—		29,280
Diluted	29,280		—		29,280		—		29,280

	Three Months Ended November 29, 2020
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Net (loss) income	$	(13,301)	$	1,678	$	(11,623)	$	—	$	(11,623)
Other comprehensive (loss) income, net of tax:
Net unrealized gains on interest rate swaps, net of tax	401		—		401		—		401
Other comprehensive income, net of tax	401		—		401		—		401
Total comprehensive (loss) income	$	(12,900)	$	1,678	$	(11,222)	$	—	$	(11,222)

The effects of the restatement on the consolidated statement of operations and comprehensive income (loss) for the six months November 29, 2020 are summarized in the following table:


	Six Months Ended November 29, 2020
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Product sales	$	266,547	$	252	$	266,799	$	(220,331)	$	46,468
Cost of product sales	229,564		310		229,874		(199,473)		30,401
Gross profit	36,983		(58)		36,925		(20,858)		16,067
Operating costs and expenses:
Research and development	5,080		—		5,080		(1,750)		3,330
Selling, general and administrative	34,009		34		34,043		(19,843)		14,200
Legal settlement charge	1,763		(1,763)		—		—		—
Restructuring costs	10,066		—		10,066		(2,300)		7,766
Total operating costs and expenses	50,918		(1,729)		49,189		(23,893)		25,296
Operating (loss) income	(13,935)		1,671		(12,264)		3,035		(9,229)

Dividend income	563		—		563		(563)		—
Interest income	18		—		18		—		18
Interest expense	(6,148)		409		(5,739)		2,478		(3,261)
Other (expense) income	(11,808)		21		(11,787)		562		(11,225)
Net (loss) income from continuing operations before taxes	(31,310)		2,101		(29,209)		5,512		(23,697)
Income tax benefit (expense)	7,009		(433)		6,576		(1,260)		5,316
Net (loss) income from continuing operations	(24,301)		1,668		(22,633)		4,252		(18,381)

Discontinued operations:
Loss from discontinued operations	—		(1,763)		(1,763)		(5,512)		(7,275)
Income tax benefit	—		363		363		1,260		1,623
Loss from discontinued operations, net of tax	—		(1,400)		(1,400)		(4,252)		(5,652)
Consolidated net (loss) income	$	(24,301)	$	268	$	(24,033)	$	—	$	(24,033)



Basic net (loss) income per share:
(Loss) income from continuing operations	$	(0.83)	$	0.06	$	(0.77)	$	0.14	$	(0.63)
Loss from discontinued operations	$	—	$	(0.05)	$	(0.05)	$	(0.14)	$	(0.19)
Total basic net (loss) income per share	$	(0.83)	$	0.01	$	(0.82)	$	—	$	(0.82)

Diluted net (loss) income per share:
(Loss) income from continuing operations	$	(0.83)	$	0.06	$	(0.77)	$	0.14	$	(0.63)
Loss from discontinued operations	$	—	$	(0.05)	$	(0.05)	$	(0.14)	$	(0.19)
Total diluted net (loss) income per share	$	(0.83)	$	0.01	$	(0.82)	$	—	$	(0.82)

Shares used in per share computation
Basic	29,261		—		29,261		—		29,261
Diluted	29,261		—		29,261		—		29,261

	Six Months Ended November 29, 2020
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations

Net (loss) income	$	(24,301)	$	268	$	(24,033)	$	—	$	(24,033)
Other comprehensive (loss) income, net of tax:
Net unrealized gains on interest rate swaps, net of tax	705		—		705		—		705
Other comprehensive income, net of tax	705		—		705		—		705
Total comprehensive (loss) income	$	(23,596)	$	268	$	(23,328)	$	—	$	(23,328)


	Convertible Preferred Stock			Common Stock			Additional Paid-in Capital		Retained Earnings (Accumulated Deficit)		Accumulated Other Comprehensive Loss		Total Stockholders’ Equity
	Shares	Amount		Shares	Amount
As Reported
Balance at May 31, 2020	—	$	—	29,224	$	29	$	162,578	$	71,245	$	(2,808)	$	231,044
Issuance of stock under stock plans	—	—		18	—		—		—		—		—
Taxes paid by Company for employee stock plans	—	—		—	—		(82)		—		—		(82)
Stock-based compensation	—	—		—	—		892		—		—		892
Net loss	—	—		—	—		—		(11,000)		—		(11,000)
Other comprehensive income, net of tax	—	—		—	—		—		—		304		304
Balance at August 30, 2020	—	$	—	29,242	$	29	$	163,388	$	60,245	$	(2,504)	$	221,158
Issuance of stock under stock plans	—	—		81	—		—		—		—		—
Taxes paid by Company for employee stock plans	—	—		—	—		(215)		—		—		(215)
Stock-based compensation	—	—		—	—		895		—		—		895
Net loss	—	—		—	—		—		(13,301)		—		(13,301)
Other comprehensive income, net of tax	—	—		—	—		—		—		401		401
Balance at November 29, 2020	—	$	—	29,323	$	29	$	164,068	$	46,944	$	(2,103)	$	208,938

Restatements Impacts
Opening retained earnings (at May 31, 2020)	—	—		—	—		—		(1,209)		—		(1,209)
Net income (loss) at August 30, 2020	—	—		—	—		—		(1,410)		—		(1,410)
Opening retained earnings (at August 30, 2020)	—	—		—	—		—		(2,619)		—		(2,619)
Net income (loss) at November 29, 2020	—	—		—	—		—		1,678		—		1,678

As Restated
Balance at May 31, 2020	—	$	—	29,224	$	29	$	162,578	$	70,036	$	(2,808)	$	229,835

Issuance of stock under stock plans	—	—		18	—		—		—		—		—
Taxes paid by Company for employee stock plans	—	—		—	—		(82)		—		—		(82)
Stock-based compensation	—	—		—	—		892		—		—		892
Net loss	—	—		—	—		—		(12,410)		—		(12,410)
Other comprehensive income, net of tax	—	—		—	—		—		—		304		304
Balance at August 30, 2020	—	$	—	29,242	$	29	$	163,388	$	57,626	$	(2,504)	$	218,539

Issuance of stock under stock plans	—	—		81	—		—		—		—		—
Taxes paid by Company for employee stock plans	—	—		—	—		(215)		—		—		(215)
Stock-based compensation	—	—		—	—		895		—		—		895
Net loss	—	—		—	—		—		(11,623)		—		(11,623)
Other comprehensive income, net of tax	—	—		—	—		—		—		401		401
Balance at November 29, 2020	—	$	—	29,323	$	29	$	164,068	$	46,003	$	(2,103)	$	207,997

The effects of the restatement on the consolidated statement of cash flows for the six months ended November 29, 2020 are summarized in the following table:


	Six Months Ended November 29, 2020
	As Reported		Restatement Adjustment		As Restated
Cash flows from operating activities:
Net (loss) income	$	(24,301)	$	268	$	(24,033)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation, amortization of intangibles and amortization of debt costs	9,826		—		9,826
Stock-based compensation expense	1,787		—		1,787
Deferred taxes	(7,070)		70		(7,000)
Change in investment in non-public company, fair value	11,800		—		11,800
Net gain on disposal of property and equipment held and used	(34)		—		(34)
Loss on disposal of property and equipment related to restructuring, net	6,005		—		6,005
Other, net	21		—		21


Changes in current assets and current liabilities:
Accounts receivable, net	9,661		—		9,661
Inventory	(4,891)		58		(4,833)
Prepaid expenses and other current assets	1,539		13		1,552
Accounts payable	10,539		—		10,539
Accrued compensation	(1,345)		—		(1,345)
Other accrued liabilities	4,627		—		4,627
Deferred revenue	292		—		292
Net cash provided by operating activities	18,456		409		18,865

Cash flows from investing activities:
Proceeds from sales of property and equipment	12,885		—		12,885
Purchases of property and equipment	(7,407)		(409)		(7,816)

Net cash provided by (used in) investing activities	5,478		(409)		5,069

Cash flows from financing activities:
Taxes paid by Company for employee stock plans	(297)		—		(297)
Payments on long-term debt	(20,062)		—		(20,062)
Proceeds from line of credit	24,000		—		24,000
Payments on line of credit	(24,400)		—		(24,400)
Payments for debt issuance costs	(1,237)		—		(1,237)


Net cash used in financing activities	(21,996)		—		(21,996)

Net increase in cash, cash equivalents and restricted cash	1,938		—		1,938
Cash, cash equivalents and restricted cash, beginning of period	553		—		553
Cash, cash equivalents and restricted cash, end of period	$	2,491	$	—	$	2,491

Supplemental disclosure of non-cash investing and financing activities:
Purchases of property and equipment on trade vendor credit	$	1,526	$	—	$	1,526


	November 29, 2020
	Balance at beginning of period		Provision (benefit) for expected credit losses		Write offs, net of recoveries		Balance at end of period
Six months ended November 29, 2020, As Reported	$	438	$	102	$	(263)	$	277
Restatement Adjustment	$	—	—		—		$	—
Six months ended November 29, 2020, As Restated	$	438	102		(263)		$	277
Discontinued Operations	$	(438)	(102)		263		$	(277)
Six months ended November 29, 2020, As Restated, after Discontinued Operations	$	—	$	—	$	—	$	—

The effects of this error on our previously reported inventories as of November 29, 2020 as presented in the Company’s Quarterly Report on Form 10-Q Note 1, are as follows:


	November 29, 2020
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Finished goods	$	36,325	$	11	$	36,336	$	(21,674)	$	14,662
Raw materials	26,983		(371)		26,612		(16,494)		10,118
Work in progress	7,894		(218)		7,676		(52)		7,624
Total inventories	$	71,202	$	(578)	$	70,624	$	(38,220)	$	32,404


	Three Months Ended November 29, 2020
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Numerator:
Net (loss) income applicable to Common Stockholders	$	(13,301)	$	1,678	$	(11,623)	$	—	$	(11,623)

Denominator:
Weighted average shares for basic net income per share	29,280		—		29,280		—		29,280



Weighted average shares for diluted net income per share	29,280		—		29,280		—		29,280

Diluted net (loss) income per share	$	(0.45)	$	0.05	$	(0.40)	$	—	$	(0.40)


	Six Months Ended November 29, 2020
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Numerator:
Net (loss) income applicable to Common Stockholders	$	(24,301)	$	268	$	(24,033)	$	—	$	(24,033)

Denominator:
Weighted average shares for basic net income per share	29,261		—		29,261		—		29,261



Weighted average shares for diluted net income per share	29,261		—		29,261		—		29,261

Diluted net (loss) income per share	$	(0.83)	$	0.01	$	(0.82)	$	—	$	(0.82)


	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Contact development and manufacturing organization	$	18,259	$	24	$	18,283	$	—	$	18,283
Fermentation	4,960		—		4,960		—		4,960
Total	$	23,219	$	24	$	23,243	$	—	$	23,243

	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Fresh packaged salads and vegetables	$	92,423	$	—	$	92,423	$	(92,423)	$	—
Avocado products	14,713		—		14,713		(14,713)		—
Technology	549		—		549		—		549
Total	$	107,685	$	—	$	107,685	$	(107,136)	$	549


	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Contact development and manufacturing organization	$	34,747	$	252	$	34,999	$	—	$	34,999
Fermentation	10,277		—		10,277		—		10,277
Total	$	45,024	$	252	$	45,276	$	—	$	45,276

	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Fresh packaged salads and vegetables	$	188,601	$	—	$	188,601	$	(188,601)	$	—
Avocado products	31,730		—		31,730		(31,730)		—
Technology	1,192		—		1,192		—		1,192
Total	$	221,523	$	—	$	221,523	$	(220,331)	$	1,192


	Three Months Ended November 29, 2020
(in thousands)	Lifecore		Curation Foods		Other		Total
Three Months Ended November 29, 2020, As Reported
Net sales	$	23,219	$	107,685	$	—	$	130,904
Gross profit	10,474		10,163		—		20,637
Net income (loss) from continuing operations	4,492		(12,383)		(5,410)		(13,301)

Depreciation and amortization	1,360		2,906		26		4,292
Dividend Income	—		281		—		281
Interest income	—		—		10		10
Interest expense	—		1,376		1,663		3,039
Income tax (benefit) expense, continuing operations	1,419		(3,911)		(208)		(2,700)
Corporate overhead allocation	1,162		1,402		(2,564)		—

Restatement Adjustments
Net sales	24		—		—		24
Gross profit	42		—		—		42
Net (loss) income	500		1,708		870		3,078
Loss from discontinued operations	—		(1,400)		—		(1,400)
Interest expense	—		—		(204)		(204)
Income tax (benefit) expense, continuing operations	(458)		1,855		(666)		731






Three Months Ended November 29, 2020, As Restated
Net sales	$	23,243	$	107,685	$	—	$	130,928
Gross profit	10,516		10,163		—		20,679
Net income (loss) from continuing operations	4,992		(10,675)		(4,540)		(10,223)
Loss from discontinued operations	$	—	$	(1,400)	$	—	(1,400)
Depreciation and amortization	1,360		2,906		26		4,292
Dividend Income	—		281		—		281
Interest income	—		—		10		10
Interest expense	—		1,376		1,459		2,835
Income tax (benefit) expense, continuing operations	961		(2,056)		(874)		(1,969)
Corporate overhead allocation	1,162		1,402		(2,564)		—

The effects of this error on our previously reported segment reporting for the six months ended November 29, 2020 as presented in the Company’s Quarterly Report on Form 10-Q Note 7, are as follows.


	Six Months Ended November 29, 2020
(in thousands)	Lifecore		Curation Foods		Other		Total
Six Months Ended November 29, 2020, As Reported
Net sales	$	45,024	$	221,523	$	—	$	266,547
Gross profit	15,476		21,507		—		36,983
Net income (loss) from continuing operations	4,604		(20,654)		(8,251)		(24,301)
Loss from discontinued operations	—		—		—		—
Depreciation and amortization	2,669		6,316		54		9,039
Dividend Income	—		563		—		563
Interest income	—		—		18		18
Interest expense	—		2,751		3,397		6,148
Income tax (benefit) expense, continuing operations	1,454		(6,523)		(1,940)		(7,009)
Corporate overhead allocation	2,565		3,258		(5,823)		—

Restatement Adjustments
Net sales	252		—		—		252
Gross profit	(58)		—		—		(58)
Net income (loss) from continuing operations	45		953		670		1,668
Loss from discontinued operations	—		(1,400)		—		(1,400)
Interest expense	—		—		(409)		(409)
Income tax (benefit) expense, continuing operations	(103)		797		(261)		433






Six Months Ended November 29, 2020, As Restated
Net sales	45,276		221,523		—		266,799
Gross profit	15,418		21,507		—		36,925
Net income (loss) from continuing operations	4,649		(19,701)		(7,581)		(22,633)
Loss from discontinued operations	$	—	$	(1,400)	$	—	(1,400)
Depreciation and amortization	2,669		6,316		54		9,039
Dividend Income	—		563		—		563
Interest income	—		—		18		18
Interest expense	—		2,751		2,988		5,739
Income tax (benefit) expense, continuing operations	1,351		(5,726)		(2,201)		(6,576)
Corporate overhead allocation	2,565		3,258		(5,823)		—


	Three Months Ended November 29, 2020
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations

Employee severance and benefit costs	211		—		211		(160)		51

Other restructuring costs	1,451		—		1,451		(403)		1,048
Total restructuring costs	$	1,662	$	—	$	1,662	$	(563)	$	1,099


	Three Months Ended November 29, 2020
	Curation		Other		Total
Total restructuring costs, As reported	$	1,506	$	156	$	1,662
Discontinued Operations adjustments	(563)		—		(563)
Total restructuring costs, As restated	$	943	$	156	$	1,099


	Six Months Ended November 29, 2020
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Asset write-off costs	$	6,005	$	—	$	6,005	$	—	$	6,005
Employee severance and benefit costs	1,115		—		1,115		(1,064)		51

Other restructuring costs	2,946		—		2,946		(1,236)		1,710
Total restructuring costs	$	10,066	$	—	$	10,066	$	(2,300)	$	7,766


	Six Months Ended November 29, 2020
	Curation		Other		Total
Total restructuring costs, As reported	$	9,263	$	803	$	10,066
Discontinued Operations adjustments	(2,300)		—		(2,300)
Total restructuring costs, As restated	$	6,963	$	803	$	7,766

As of and for the three months ended August 30, 2020

The effects of the restatement on the consolidated balance sheet as of August 30, 2020 are summarized in the following table:


	August 30, 2020
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
ASSETS
Current Assets:
Cash and cash equivalents	$	589	$	—	$	589	$	(150)	$	439
Accounts receivable, less allowance for doubtful accounts	65,027		—		65,027		(37,855)		27,172
Inventories	59,998		(620)		59,378		(30,469)		28,909
Prepaid expenses and other current assets	21,753		(1,780)		19,973		(6,039)		13,934
Current assets, discontinued operations	—		—		—		74,513		74,513
Total Current Assets	147,367		(2,400)		144,967		—		144,967

Investment in non-public company, fair value	56,900		(1,800)		55,100		—		55,100
Property and equipment, net	171,413		1,063		172,476		(78,712)		93,764
Operating lease right-of-use assets	22,109		—		22,109		(8,750)		13,359
Goodwill	69,386		—		69,386		(55,505)		13,881
Trademarks/tradenames, net	25,328		—		25,328		(21,128)		4,200
Customer relationships, net	12,281		—		12,281		(11,767)		514
Other assets	1,396		—		1,396		(203)		1,193
Non-current assets, discontinued operations	—		—		—		176,065		176,065
Total Assets	$	506,180	$	(3,137)	$	503,043	$	—	$	503,043

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities:
Accounts payable	$	50,722	$	—	50,722		$	(44,371)	6,351
Accrued compensation	8,895		—		8,895		(4,921)		3,974
Other accrued liabilities	9,607		(36)		9,571		(5,902)		3,669
Current portion of lease liabilities	4,001		—		4,001		(3,290)		711
Deferred revenue	477		—		477		(477)		—
Line of credit	69,000		—		69,000		—		69,000
Current portion of long-term debt	11,027		—		11,027		—		11,027
Current Liabilities, discontinued operations	—		—		—		58,961		58,961
Total Current Liabilities	153,729		(36)		153,693		—		153,693

Long-term debt, net	93,919		—		93,919		—		93,919
Long-term lease liabilities	23,018		—		23,018		(7,002)		16,016
Deferred taxes, net	9,359		(482)		8,877		—		8,877
Other non-current liabilities	4,997		—		4,997		(859)		4,138
Non-current liabilities, discontinued operations	—		—		—		7,861		7,861
Total Liabilities	285,022		(518)		284,504		—		284,504

Stockholders’ Equity:


Common stock	$	29	$	—	29		$	—	29
Additional paid-in capital	163,388		—		163,388		—		163,388
Retained earnings (Accumulated deficit)	60,245		(2,619)		57,626		—		57,626
Accumulated other comprehensive loss	(2,504)		—		(2,504)		—		(2,504)
Total Stockholders’ Equity	221,158		(2,619)		218,539		—		218,539
Total Liabilities and Stockholders’ Equity	$	506,180	$	(3,137)	$	503,043	$	—	$	503,043

The effects of the restatement on the consolidated statement of operations and comprehensive income (loss) for the three months August 30, 2020 are summarized in the following table:


	Three Months Ended August 30, 2020
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Product sales	$	135,643	$	228	$	135,871	$	(113,196)	$	22,675
Cost of product sales	119,296		328		119,624		(102,243)		17,381
Gross profit	16,347		(100)		16,247		(10,953)		5,294
Operating costs and expenses:
Research and development	2,508		—		2,508		(769)		1,739
Selling, general and administrative	17,903		34		17,937		(10,447)		7,490
Restructuring costs	8,404		—		8,404		(1,737)		6,667
Total operating costs and expenses	28,815		34		28,849		(12,953)		15,896
Operating (loss) income	(12,468)		(134)		(12,602)		2,000		(10,602)

Dividend income	281		—		281		(281)		—
Interest income	8		—		8		—		8
Interest expense	(3,109)		205		(2,904)		1,239		(1,665)
Other expense	(21)		(1,779)		(1,800)		281		(1,519)
Net (loss) income from continuing operations before taxes	(15,309)		(1,708)		(17,017)		3,239		(13,778)
Income tax benefit (expense)	4,309		298		4,607		(819)		3,788
Net (loss) income from continuing operations	(11,000)		(1,410)		(12,410)		2,420		(9,990)

Discontinued operations:
Loss from discontinued operations	—		—		—		(3,239)		(3,239)
Income tax benefit	—		—		—		819		819
Loss from discontinued operations, net of tax	—		—		—		(2,420)		(2,420)
Consolidated net loss	$	(11,000)	$	(1,410)	$	(12,410)	$	—	$	(12,410)



Basic net (loss) income per share:
(Loss) income from continuing operations	$	(0.38)	$	(0.04)	$	(0.42)	$	0.08	$	(0.34)
Loss from discontinued operations	$	—	$	—	$	—	$	(0.08)	$	(0.08)
Total basic net loss per share	$	(0.38)	$	(0.04)	$	(0.42)	$	—	$	(0.42)

Diluted net (loss) income per share:
(Loss) income from continuing operations	$	(0.38)	$	(0.04)	$	(0.42)	$	0.08	$	(0.34)
Loss from discontinued operations	$	—	$	—	$	—	$	(0.08)	$	(0.08)
Total diluted net loss per share	$	(0.38)	$	(0.04)	$	(0.42)	$	—	$	(0.42)


Shares used in per share computation
Basic	29,242		—		29,242		—		29,242
Diluted	29,242		—		29,242		—		29,242

	Three Months Ended August 30, 2020
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Net loss	$	(11,000)	$	(1,410)	$	(12,410)	$	—	$	(12,410)
Other comprehensive (loss) income, net of tax:
Net unrealized gains on interest rate swaps, net of tax	304		—		304		—		304
Other comprehensive income, net of tax	304		—		304		—		304
Total comprehensive loss	$	(10,696)	$	(1,410)	$	(12,106)	$	—	$	(12,106)


	Convertible Preferred Stock			Common Stock			Additional Paid-in Capital		Retained Earnings (Accumulated Deficit)		Accumulated Other Comprehensive Loss		Total Stockholders’ Equity
	Shares	Amount		Shares	Amount
As Reported
Balance at May 31, 2020	—	$	—	29,224	$	29	$	162,578	$	71,245	$	(2,808)	$	231,044
Issuance of stock under stock plans	—	—		18	—		—		—		—		—
Taxes paid by Company for employee stock plans	—	—		—	—		(82)		—		—		(82)
Stock-based compensation	—	—		—	—		892		—		—		892
Net loss	—	—		—	—		—		(11,000)		—		(11,000)
Other comprehensive income, net of tax	—	—		—	—		—		—		304		304
Balance at August 30, 2020	—	$	—	29,242	$	29	$	163,388	$	60,245	$	(2,504)	$	221,158

Restatements Impacts
Opening retained earnings (at May 31, 2020)	—	—		—	—		—		(1,209)		—		(1,209)
Net income (loss) at August 30, 2020	—	—		—	—		—		(1,410)		—		(1,410)





As Restated
Balance at May 31, 2020	—	$	—	29,224	$	29	$	162,578	$	70,036	$	(2,808)	$	229,835

Issuance of stock under stock plans	—	—		18	—		—		—		—		—
Taxes paid by Company for employee stock plans	—	—		—	—		(82)		—		—		(82)
Stock-based compensation	—	—		—	—		892		—		—		892
Net loss	—	—		—	—		—		(12,410)		—		(12,410)
Other comprehensive income, net of tax	—	—		—	—		—		—		304		304
Balance at August 30, 2020	—	$	—	29,242	$	29	$	163,388	$	57,626	$	(2,504)	$	218,539

The effects of the restatement on the consolidated statement of cash flows for the three months ended August 30, 2020 are summarized in the following table:


	Three Months Ended August 30, 2020
	As Reported		Restatement Adjustment		As Restated
Cash flows from operating activities:
Net loss	$	(11,000)	$	(1,410)	$	(12,410)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation, amortization of intangibles and amortization of debt costs	5,102		—		5,102
Stock-based compensation expense	892		—		892
Deferred taxes	(4,349)		(298)		(4,647)
Net gain on disposal of property and equipment held and used	(11)		—		(11)
Loss on Windset	—		1,800		1,800
Loss on disposal of property and equipment related to restructuring, net	6,005		—		6,005
Other, net	21		—		21
Changes in current assets and current liabilities:
Accounts receivable, net	11,179		—		11,179
Inventory	6,313		100		6,413
Prepaid expenses and other current assets	1,353		13		1,366
Accounts payable	917		—		917
Accrued compensation	(139)		—		(139)
Other accrued liabilities	613		—		613
Deferred revenue	125		—		125
Net cash provided by operating activities	17,021		205		17,226

Cash flows from investing activities:
Purchases of property and equipment	(4,623)		(205)		(4,828)

Proceeds from sales of property and equipment	4,855		—		4,855
Net cash provided by (used in) investing activities	232		(205)		27

Cash flows from financing activities:
Taxes paid by Company for employee stock plans	(82)		—		(82)
Payments on long-term debt	(8,030)		—		(8,030)
Proceeds from line of credit	11,000		—		11,000
Payments on line of credit	(19,400)		—		(19,400)
Payments for debt issuance costs	(512)		—		(512)
Net cash used in financing activities	(17,024)		—		(17,024)

Net increase in cash, cash equivalents and restricted cash	229		—		229
Cash, cash equivalents and restricted cash, beginning of period	360		—		360
Cash, cash equivalents and restricted cash, end of period	$	589	$	—	$	589

Supplemental disclosure of non-cash investing and financing activities:
Purchases of property and equipment on trade vendor credit	$	978	$	—	$	978


	August 30, 2020
	Balance at beginning of period		Provision (benefit) for expected credit losses	Write offs, net of recoveries	Balance at end of period
Three months ended August 30, 2020, As Reported	$	438	35	(169)	$	304

Three months ended August 30, 2020, As Restated	$	438	35	(169)	$	304
Discontinued Operations	$	(438)	(35)	169	$	(304)
Three months ended August 30, 2020, As Restated, after Discontinued Operations	$	—	—	—	$	—

The effects of this error on our previously reported inventories as of August 30, 2020 as presented in the Company’s Quarterly Report on Form 10-Q Note 1, are as follows:


	August 30, 2020
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Finished goods	$	27,635	$	(2)	$	27,633	$	(14,727)	$	12,906
Raw materials	25,794		(479)		25,315		(15,675)		9,640
Work in progress	6,569		(139)		6,430		(67)		6,363
Total inventories	$	59,998	$	(620)	$	59,378	$	(30,469)	$	28,909


	Three Months Ended August 30, 2020
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Numerator:
Net loss applicable to Common Stockholders	$	(11,000)	$	(1,410)	$	(12,410)	$	—	$	(12,410)

Denominator:
Weighted average shares for basic net income per share	29,242		—		29,242		—		29,242



Weighted average shares for diluted net income per share	29,242		—		29,242		—		29,242

Diluted net loss per share	$	(0.38)	$	(0.04)	$	(0.42)	$	—	$	(0.42)


	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Contact development and manufacturing organization	$	16,488	$	228	$	16,716	$	—	$	16,716
Fermentation	5,316		—		5,316		—		5,316
Total	$	21,804	$	228	$	22,032	$	—	$	22,032

	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Fresh packaged salads and vegetables	$	96,179	$	—	$	96,179	$	(96,179)	$	—
Avocado Products	17,017		—		17,017		(17,017)		—
Technology	643		—		643		—		643
Total	$	113,839	$	—	$	113,839	$	(113,196)	$	643


	Three Months Ended August 30, 2020
(in thousands)	Lifecore		Curation Foods		Other		Total
Three Months Ended August 30, 2020, As Reported
Net sales	$	21,804	$	113,839	$	—	$	135,643
Gross profit	5,002		11,345		—		16,347
Net income (loss) from continuing operations	112		(8,271)		(2,841)		(11,000)
Depreciation and amortization	1,310		3,410		28		4,748
Dividend Income	—		281		—		281
Interest income	—		—		8		8
Interest expense	—		1,376		1,733		3,109
Income tax (benefit) expense, continuing operations	35		(2,612)		(1,732)		(4,309)
Corporate overhead allocation	1,403		1,856		(3,259)		—

Restatement Adjustments
Net sales	228		—		—		228
Gross profit	(100)		—		—		(100)
Net (loss) income	(78)		(988)		(344)		(1,410)
Interest expense	—		—		(205)		(205)
Income tax (benefit) expense, continuing operations	(22)		(825)		549		(298)






Three Months Ended August 30, 2020, As Restated
Net sales	$	22,032	$	113,839	$	—	$	135,871
Gross profit	4,902		11,345		—		16,247
Net income (loss) from continuing operations	34		(9,259)		(3,185)		(12,410)
Depreciation and amortization	1,310		3,410		28		4,748
Dividend Income	—		281		—		281
Interest income	—		—		8		8
Interest expense	—		1,376		1,528		2,904
Income tax (benefit) expense, continuing operations	13		(3,437)		(1,183)		(4,607)
Corporate overhead allocation	1,403		1,856		(3,259)		—


	Three Months Ended August 30, 2020
(in thousands)	As Reported		Restatement		As Restated		Discontinued Operations		As Restated, after Discontinued Operations
Asset write-off costs	$	6,005	$	—	$	6,005	$	—	$	6,005
Employee severance and benefit costs	905		—		905		(905)		—

Other restructuring costs	1,494		—		1,494		(832)		662
Total restructuring costs	$	8,404	$	—	$	8,404	$	(1,737)	$	6,667


	Three Months Ended August 30, 2020
	Curation		Other		Total
Total restructuring costs, As reported	$	7,757	$	647	$	8,404
Discontinued Operations Adjustment	(1,737)		—		(1,737)
Total restructuring costs, As restated	$	6,020	$	647	$	6,667

Correction of Errors in Previously Reported Fiscal Year 2022 and 2021 Annual Financial Statements - Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	May 28, 2023	May 29, 2022	May 30, 2021
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Unrecognized tax benefits – beginning of the period	$ 1,041	$ 958	$ 836
Gross increases – current-period tax positions	116	83	122
Unrecognized tax benefits – end of the period	1,173	1,041	958
Discontinued Operations
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Unrecognized tax benefits – beginning of the period	0	0	0
Gross increases – current-period tax positions		0	0
Unrecognized tax benefits – end of the period		0	0
As Reported
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Unrecognized tax benefits – beginning of the period	1,025	942	827
Gross increases – current-period tax positions		83	115
Unrecognized tax benefits – end of the period		1,025	942
Restatement
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Unrecognized tax benefits – beginning of the period	16	16	9
Gross increases – current-period tax positions		0	7
Unrecognized tax benefits – end of the period		16	16
As Restated
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Unrecognized tax benefits – beginning of the period	$ 1,041	958	836
Gross increases – current-period tax positions		83	122
Unrecognized tax benefits – end of the period		$ 1,041	$ 958

Debt

12 Months Ended

May 28, 2023

Debt Disclosure [Abstract]

Debt

Prior Term Loan Facility

On December 31, 2020, the Company refinanced its previously existing term loan and revolving credit facility by entering into (i) a credit agreement with Goldman Sachs Specialty Lending Group, L.P. (“Goldman”) and Guggenheim Credit Services, LLC (“Guggenheim”), as lenders, which provided the Company, Curation Foods and Lifecore, as co-borrowers, with term loan borrowings of up to $170.0 million (the “Prior Term Loan Facility”), and (ii) a credit agreement with BMO Harris Bank, N.A. (“BMO”) as lender, which provided the Company, Curation Foods and Lifecore, as co-borrowers, with an up to $75.0 million revolving line of credit (the “Revolving Credit Facility” and together with Prior Term Loan Facility, the “Credit Facilities”). The Revolving Credit Facility is, and the Prior Term Loan Facility was, guaranteed, and secured by, substantially all of the Company’s and the Company’s direct and indirect subsidiaries’ assets.

In April 2022, the Company amended the Credit Facilities to make available an additional $20.0 million of term debt that had been previously repaid. In connection with this amendment, the Company incurred debt issuance costs from the lender of $0.7 million.

On January 9, 2023, the Company entered into further amendments to the Credit Facilities to, among other things, provide for the limited waiver from events of default under the Credit Facilities related to certain financial covenant requirements, as well as a waiver of certain existing terms and covenants under the Prior Term Loan, including with respect to the fixed coverage ratio leverage ratio and minimum liquidity covenants, 2% increase of annual interest rate, which was payable in kind, and a one-time amendment fee in an amount equal to 3% of the principal amount as of January 9, 2023. This amendment also reduced the maximum commitment under the Revolving Credit Facility from $75.0 million to $60.0 million, which was further reduced to $40.0 million upon the sale of Yucatan.

The Prior Term Loan Facility would have matured on December 31, 2025. The Revolving Credit Facility matures on December 31, 2025.

Interest on the Revolving Credit Facility is based upon the Company’s average availability, at a per annum rate of either (i) SOFR rate plus a spread of between 2.00% and 2.50% or (ii) base rate plus a spread of between 1.00% and 1.50%, plus a commitment fee, as applicable, of 0.375% and plus (iii) for the period from December 1, 2022 until January 31, 2023, additional 2% per annum. Interest on the Prior Term Loan Facility was at a per annum rate based on either (i) the base rate plus a spread of 7.50% or (ii) the SOFR rate plus a spread of 8.50%. The Prior Term Loan Credit Facility also provided that in the event of a prepayment of any amount other than the scheduled installments within twelve months after the closing date, a penalty will be assessed equal to the aggregate amount of interest that would have otherwise been payable from date of prepayment event until twelve months after the closing date plus 3% of the amount prepaid.

The Revolving Credit Facility contains, and the Prior Term Loan Facility contained, customary financial covenants and events of default under which the obligations thereunder could be accelerated and/or the interest rate increased in specified circumstances.

In connection with the January 2023 amendments to the Credit Facilities, the Company incurred debt issuance costs from the lender and third-parties of $4.2 million (comprised of $1.1 million in cash and $3.1 million paid-in-kind) and $62.5 thousand, respectively, during the year ended May 28, 2023.

Refinancing Transactions

Loss on Debt Extinguishment

On May 22, 2023, the Company entered into the New Term Loan Credit Facility (as defined below) with Alcon. The proceeds of this New Term Loan Credit Facility were used to repay the Prior Term Loan Facility in its entirety. In connection with the New Term Loan Credit Facility, the Company recorded a loss on debt extinguishment in the consolidated statement of operations amounting to $23.7 million, comprised of a prepayment penalty of $12.9 million, write-off unamortized deferred financing fees related to the Prior Term Loan Credit Facility of $7.5 million and third-party fees of $3.3 million.

New Term Loan Credit Facility

On May 22, 2023, the Company, Curation and Lifecore Biomedical (together with the Company and Curation, the “Borrowers”), certain of the Company’s other subsidiaries, as guarantors, and Alcon, as administrative agent, collateral agent and lender, entered into that certain Credit and Guaranty Agreement (the “New Term Loan Credit Facility”). The New Term Loan

Credit Facility refinanced in full all obligations of the Borrowers and their subsidiaries under the Prior Term Loan Credit Facility, which was terminated upon the entry into the New Term Loan Credit Facility and all noncompliance with debt covenants was thereby cured. Prior to the New Term Loan Credit Facility and continuing, Alcon was/is a significant customer of the Company.

The New Term Loan Credit Facility provides for up to $142.3 million in term loans, subject to certain adjustments based on the post-closing adjustments to the Purchase Price (as defined in the Equipment Sale and Leaseback Agreement, defined below), which were funded in full on May 22, 2023. The obligations under the New Term Loan Credit Facility mature on May 22, 2029. The New Term Loan Credit Facility is secured by the same collateral that secures the Revolving Credit Facility, with relative priorities in respect thereof, as set forth in the Intercreditor Agreement (as defined below).

The loans under the New Term Loan Credit Facility have a fixed interest rate equal to 10% per annum. Interest is payable-in-kind until the third anniversary of the closing date and following the third anniversary of the closing date is payable at a rate equal to 3% per annum in cash with the remainder payable-in-kind, in each case, unless otherwise elected by the Borrowers to pay a greater proportion in cash. The New Term Loan Credit Facility contains customary affirmative covenants including, but not limited to, financial reporting requirements and maintenance of existence requirements and negative covenants, including, but not limited to, limitations on the incurrence of debt, liens, investments, restricted payments, restricted debt payments, and affiliate transactions. The New Term Loan Credit Facility contains one financial covenant, a minimum liquidity covenant, requiring $4.0 million of Consolidated Liquidity (as defined in the New Term Loan Credit Facility) as of the end of each fiscal quarter of the Company.

The Company identified a number of embedded derivatives that require bifurcation from the New Term Loan Credit Facility that were separately accounted for in the consolidated financial statements as one compound derivative liability. Certain of these embedded features include change in control provisions, events of default and contingent rate increases and were determined to qualify as an embedded derivative under ASC 815-40. The embedded derivative and the New Term Loan Credit Facility obligation have been netted to result in a net embedded derivative liability and is classified as a Level 3 financial liability in the fair value hierarchy as of May 28, 2023. The fair value of the embedded derivative liabilities associated with the term loans was estimated using the discounted cash flow method under the income approach. This involves significant Level 3 inputs and assumptions including an estimated probability and timing of a change in control and events of default. The Company will re-evaluate this assessment each reporting period and record any gains or losses in other income (expense). The initial recognition of the embedded derivative liability upon issuance of the New Term Loan Credit Facility on May 22, 2023 was $64.9 million and is recorded as a reduction the term loan obligation in the consolidated Balance Sheets. Amortization of the debt discount is based on the effective interest method over the term of the debt. The amortization of the debt discount between the issuance of May 22, 2023 and May 28, 2023 amounted to $0.1 million. At May 28, 2023, the fair value of the embedded derivative liability approximated the fair value upon issuance.

Pledge and Security Agreement

Also on May 22, 2023, the Borrowers and certain of the Company’s other subsidiaries, as grantors (collectively, the “Grantors”), entered into that certain Pledge and Security Agreement (the “Term Loan Security Agreement”), dated as of May 22, 2023, with Alcon, as collateral agent. Pursuant to the Term Loan Security Agreement, the Grantors secured their obligations under the New Term Loan Credit Facility by granting to Alcon, as collateral agent, a first priority security interest in certain collateral, including but not limited to equipment, fixtures, real property and intellectual property. The security interest granted by the Grantors under the Term Loan Security Agreement continues in effect until the payment in full of all of the secured obligations under the New Term Loan Credit Facility.

Amendment to Revolving Credit Facility

On May 22, 2023, the Borrowers and certain of the Company’s other subsidiaries, as guarantors, entered into a Limited Waiver, Consent and Fifth Amendment (the “Revolving Loan Amendment”) to the Revolving Credit Facility.

The Revolving Loan Amendment provides for, among other things, (i) a waiver of all known existing defaults under the Revolving Credit Agreement as of the date of the Revolving Loan Amendment, (ii) the reduction of the maximum amount available under the Revolving Credit Agreement to up to the lesser of (x) $40.0 million, less a reserve for certain secured credit products, if any, and (y) the borrowing base (which, pursuant to the Revolving Loan Amendment, was modified to include a further reduction of the borrowing base by an additional $4.0 million), (iii) the modification of the springing minimum fixed charge coverage ratio of 1.00 to 1.00, with such covenant not tested until the fiscal quarter ending on or about February 28, 2024 and, on or thereafter, upon the earlier of the occurrence of an Event of Default or availability being less than the greater of 10% of the maximum borrowing amount and $4.0 million, (iv) cash dominion at all times the Revolving Credit Facility remains outstanding, and (v) certain other revisions to align with the terms of the New Term Loan Credit Facility and address the relative priorities and credit for borrowings related to the Company’s commercial relationships with Alcon.

In connection with the entry into the Revolving Loan Amendment, the Company also agreed to pay to BMO an amendment fee of $1.2 million, $0.8 million of which is paid concurrently with the Company’s entry into the Revolving Loan Amendment. The remaining $0.4 million obligation is payable at the earlier of (i) repayment in full of the Company’s obligations, and termination of all commitments, under the Revolving Credit Facility and (ii) the occurrence of a Change of Control (as defined in the Revolving Credit Facility). The Company will accrete the remaining amendment fee over the life of the credit facility. In connection with the entry into the Revolving Loan Amendment, the Company recorded $1.2 million of debt origination costs.

BMO and Alcon also entered into an intercreditor agreement regarding their relative rights, as lenders, in the assets of the Company and its subsidiaries that serve as collateral for their respective credit facilities (the “Intercreditor Agreement”).

As the Company's borrowings under the Amended Loan Amendments for the next twelve months will increase to above the $16.8 million as of the balance sheet date, and scheduled repayments is not due until December 31, 2025, we have determined the line of credit to be classified as a long-term liability as of May 28, 2023.

Equipment Sale and Leaseback Agreements

On May 22, 2023, the Company entered into that certain Equipment Sale and Leaseback Agreement (the “Equipment Sale and Leaseback Agreement”), dated May 22, 2023, with Alcon, wherein the Company sold $10.0 million (subject to certain post-closing adjustments) (the “Purchase Price”) of certain equipment, machinery, and other property associated with the production of sodium hyaluronate (the “Equipment”) to Alcon. The Equipment Sale Leaseback Agreement contains an option for the Company to repurchase the Equipment upon the earlier of (i) seven (7) years and (ii) the expansion of the Company’s existing production capacity with respect to sodium hyaluronate, for a purchase price equal to the Purchase Price, less the aggregate of all Paydown Payments (as defined in the Equipment Lease Agreement). The Purchase Price was subsequently reduced to $7.7 million based on the fair value of the equipment, as required by the terms of the Equipment Sale and Leaseback Agreement. The difference of $2.3 million between the initial sales value of $10.0 million and the $7.7 million was added to the term loan agreement, which resulted in a term loan amount of $142.3 million and the proceeds to Lifecore across the two agreements did not change.

Concurrently with the entry into the Equipment Sale and Leaseback Agreement, the Company entered into that certain Equipment Lease Agreement (the “Equipment Lease Agreement” and, together with the Equipment Sale Leaseback Agreement, the New Term Loan Credit Facility, the Term Loan Security Agreement, and the Revolving Loan Amendment, collectively, the “Refinancing Transactions”), dated May 22, 2023, with Alcon, wherein Alcon leased the Equipment back to the Company. The Equipment Lease Agreement expires upon the earlier of (i) May 22, 2033, and (ii) the date that the Equipment is repurchased by the Company pursuant to the terms of the Equipment Lease Agreement. Upon the expiration of the Equipment Lease Agreement on May 22, 2033, the Company shall automatically repurchase the Equipment for $1.00 (if not previously repurchased pursuant to the option under the Equipment Sale and Leaseback Agreement).

During the lease term, the Company is obligated to make quarterly rental payments to Alcon equal to (i) 1/40th of the Purchase Price (the “Paydown Payments”), plus (ii) 1.5% times the Purchase Price less cumulative Paydown Payments made. The Company concluded that the Equipment Sale and Leaseback Agreement did not meet the requirements for sale-leaseback accounting, therefore the carrying value of the equipment remains on the balance sheet and the $7.7 million Purchase Price (as adjusted) of the equipment sale finance obligation (the “Equipment Sale Finance Liability”) has been classified in Long Term debt.

The Equipment Lease Agreement contains terms and provisions (including representations, covenants and conditions) that are generally customary for a commercial lease of this nature, including obligations relating to the use, operation and maintenance of the Equipment. During the term of the lease, Alcon is not permitted to sell or encumber the Equipment. Alcon is only entitled to cancel the Equipment Lease Agreement in the event of insolvency, liquidation or bankruptcy, and its remedies for other breaches of the Equipment Lease Agreement are otherwise limited to monetary damages.

As of May 28, 2023, the Company had $16.8 million in borrowings outstanding under the Revolving Credit Facility, at an effective annual interest rate of 12.16%. As of May 28, 2023, the Company had $142.5 million in borrowings outstanding under the New Term Loan Facility, at an effective annual interest rate of 10.0%.

As of May 28, 2023, the Company was in compliance with all financial covenants under the New Term Loan Facility and Revolving Credit Facility. The Company obtained a waiver for the timing of delivery of financial statements and certain amendments to the credit agreements from both of their lenders. See Note 15, Subsequent Events, for further discussion.

Long-term debt consists of the following as of May 28, 2023 and May 29, 2022 (in thousands):


	May 28, 2023		May 29, 2022
Term loan	$	142,503	$	103,712
Equipment sale finance liability	7,730		—
Total principal amount of long-term debt	150,233		103,712
Less: unamortized debt discount (2023) / Less: unamortized debt issuance costs (2022)	(605)		(5,534)
Less: debt discount	(64,792)		—
Total long-term debt, net of unamortized debt issuance costs	84,836		98,178
Less: current portion of long-term debt, net	(580)		(98,178)
Long-term debt, net	$	84,256	$	—



Fiscal year 2024	$	580
Fiscal year 2025	773
Fiscal year 2026	773
Fiscal year 2027	773
Fiscal year 2028	773
Thereafter	146,561
Total	$	150,233

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
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-URI https://asc.fasb.org//470/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details