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Consolidated Statements of Operations - USD ($)
$ in Millions
12 Months Ended
Feb. 28, 2025
Feb. 29, 2024
Feb. 28, 2023
Revenue      
Revenues $ 534.9 $ 759.1 $ 526.3
Cost of sales      
Cost of Revenue (140.0) (268.4) (159.7)
Gross margin 394.9 490.7 366.6
Operating expenses      
Research and development 108.8 127.1 134.2
Sales and marketing 95.5 104.0 102.6
General and administrative 159.7 187.2 172.0
Amortization 17.7 26.7 27.4
Impairment of goodwill (note 4) 0.0 15.9 112.1
Impairment of long-lived assets (note 4) 9.6 15.3 3.5
Gain on sale of property, plant and equipment, net 0.0 0.0 (6.0)
Prior Debentures fair value adjustment 0.0 3.5 (137.4) [1],[2]
Litigation settlement 2.8 0.0 165.0
Total operating expenses 394.1 479.7 573.4
Operating income (loss) 0.8 11.0 (206.8)
Investment income, net (note 4 and note 7) 7.7 18.8 5.0
Income (loss) before income taxes 8.5 29.8 (201.8)
Provision for income taxes (note 6) 17.0 24.2 13.7
Income (loss) from continuing operations before income taxes (8.5) 5.6 (215.5)
Gain from disposal of discontinued operation, net of tax (note 3) 10.2 0.0 0.0
Discontinued Operation, Income (Loss) from Discontinued Operation During Phase-out Period, before Income Tax (80.7) (135.8) (518.9)
Net loss $ (79.0) $ (130.2) $ (734.4)
Earnings (loss) per share (note 9)      
Earnings Per Share, Basic $ (0.13) $ (0.22) $ (1.27)
Earnings Per Share, Diluted (0.13) (0.22) (1.35)
Diluted earnings (loss) per share from continuing operations (0.01) 0.01 (0.54)
Basic earnings (loss) per share from continuing operations $ (0.01) $ 0.01 $ (0.37)
[1] The Company has presented the dilutive effect of the 2020 Debentures using the if-converted method, assuming conversion at the beginning of the fiscal year for the year ended February 28, 2023. Accordingly, to calculate diluted loss per share, the Company adjusted net income (loss) by eliminating the fair value adjustment made to the 2020 Debentures and interest expense incurred on the 2020 Debentures in the year ended February 28, 2023, and added the number of shares that would have been issued upon conversion to the diluted weighted average number of shares outstanding. See Note 7 for details on the 2020 Debentures.
[2] The Company has not presented the dilutive effect of the Debentures using the if-converted method in the calculation of diluted loss per share for the years ended February 28, 2025 and February 29, 2024, as to do so would be antidilutive. See Note 7 for details on the Debentures.