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Revenue and Segment Disclosure (Tables)
 12 Months Ended
Feb. 28, 2025
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment
The following table shows information by reportable operating segment for the fiscal year ended February 28, 2025:
 For the Year Ended
Secure CommunicationsQNXLicensingSegment Totals
Segment revenue$272.6 $236.0 $26.3 $534.9 
Segment cost of sales92.7 38.8 6.1 137.6 
Segment gross margin (1)
$179.9 $197.2 $20.2 $397.3 
______________________________
(1) A reconciliation of total segment gross margin to consolidated pre-tax income from continuing operations is set forth below.
The following table shows information by reportable operating segment for the years ended February 29, 2024 and February 28, 2023:
For the Years Ended
Secure CommunicationsQNXLicensingSegment Totals
Feb 29Feb 28Feb 29Feb 28Feb 29Feb 28Feb 29Feb 28
20242023202420232024202320242023
Segment revenue$283.8 $288.2 $215.4 $205.7 $259.9 $32.4 $759.1 $526.3 
Segment cost of sales80.7 110.4 33.8 34.8 150.9 11.5 265.4 156.7 
Segment gross margin (1)
$203.1 $177.8 $181.6 $170.9 $109.0 $20.9 $493.7 $369.6 
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(1) A reconciliation of total segment gross margin to consolidated pre-tax income (loss) from continuing operations is set forth below.
Reconciliation of Operating Profit (Loss) from Segments to Consolidated
The following table reconciles segment gross margin for the fiscal year ended February 28, 2025, February 29, 2024 and February 28, 2023 to the Company’s consolidated totals:
 For the Years Ended
February 28, 2025February 29, 2024February 28, 2023
Total segment gross margin$397.3 $493.7 $369.6 
Adjustments (1):
Stock compensation2.4 3.0 3.0 
Less:
Research & development108.8 127.1 134.2 
Sales and marketing95.5 104.0 102.6 
General and administrative159.7 187.2 172.0 
Amortization17.7 26.7 27.4 
Impairment of goodwill— 15.9 112.1 
Impairment of long-lived assets9.6 15.3 3.5 
Gain on sale of property, plant and equipment, net— — (6.0)
Prior Debentures fair value adjustment— 3.5 (137.4)
Litigation settlement2.8 — 165.0 
Investment income, net(7.7)(18.8)(5.0)
Income (loss) from continuing operations before income taxes$8.5 $29.8 $(201.8)
Revenue from External Customers by Geographic Areas
The Company’s revenue, classified by major geographic region in which the Company’s customers are located, was as follows:
 For the Years Ended
 February 28, 2025February 29, 2024February 28, 2023
North America (1)
$248.7 46.5 %$496.9 65.5 %$261.7 49.7 %
Europe, Middle East and Africa188.6 35.3 %159.0 20.9 %203.1 38.6 %
Other regions97.6 18.2 %103.2 13.6 %61.5 11.7 %
Total $534.9 100.0 %$759.1 100.0 %$526.3 100.0 %
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(1) North America includes all revenue from the Company’s intellectual property arrangements, due to the global applicability of the patent portfolio and licensing arrangements thereof.
Revenue Classified by Timing of Recognition
Revenue, classified by timing of recognition, was as follows:
 For the Years Ended
February 28, 2025February 29, 2024February 28, 2023
Products and services transferred over time$246.9 $210.0 $245.7 
Products and services transferred at a point in time288.0 549.1 280.6 
Total$534.9 $759.1 $526.3 
Revenue Contract Balances
The following table sets forth the activity in the Company’s revenue contract balances for the fiscal year ended February 28, 2025:
Accounts ReceivableDeferred RevenueDeferred Commissions
Opening balance as at February 29, 2024$255.1 $163.3 $15.1 
Increases due to invoicing of new or existing contracts, associated contract acquisition costs, or other668.9 528.3 20.2 
Decrease due to payment, fulfillment of performance obligations, or other(684.0)(524.5)(20.7)
Increase (decrease), net(15.1)3.8 (0.5)
Closing balance as at February 28, 2025$240.0 $167.1 $14.6 
Current portion$173.7 $161.5 $8.3 
Long-term portion66.3 5.6 6.3 
$240.0 $167.1 $14.6 
Transaction Price Allocated to the Remaining Performance Obligation
The table below discloses the aggregate amount of the transaction price allocated to performance obligations that are unsatisfied or partially unsatisfied as at February 28, 2025 and the time frame in which the Company expects to recognize this revenue. The disclosure includes estimates of variable consideration, except when the variable consideration is a sales-based or usage-based royalty promised in exchange for a license of intellectual property.
The disclosure excludes estimates of variable consideration relating to future royalty revenues from the Malikie Transaction, which have been constrained based on the Company’s accounting policies and critical accounting estimates as described in Note 1 and under “Patent Sale” in this Note 13.
As at February 28, 2025
Less than 12 Months12 to 24 MonthsThereafterTotal
Remaining performance obligations$161.5 $2.7 $2.9 $167.1 
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas
Property, plant and equipment, intangible assets, operating lease ROU assets and goodwill, classified by geographic region in which the Company’s assets are located, were as follows:
 As at
 February 28, 2025February 29, 2024
Property, Plant and Equipment, Intangible Assets, Operating Lease ROU Assets and GoodwillTotal AssetsProperty, Plant and Equipment, Intangible Assets, Operating Lease ROU Assets and GoodwillTotal Assets
Canada$68.2 $462.7 $78.8 $342.4 
United States459.4 752.7 478.0 922.5 
Other27.5 80.2 28.2 130.1 
$555.1 $1,295.6 $585.0 $1,395.0