DISCONTINUED OPERATIONS (Tables)

12 Months Ended

Feb. 28, 2023

Discontinued Operations and Disposal Groups [Abstract]

Summary of Financial Results of Discontinued Operations

The amounts in the statements of operations that are included in discontinued operations are summarized in the following table (in thousands):

	Year Ended February 28,
	2022			2021
Revenues	$	823		$	32,692
Cost of revenues		950			21,133
Gross profit		(127	)		11,559
Operating expenses:
Research and development		32			1,441
Selling and marketing		167			9,988
General and administrative		75			7,041
Intangible asset amortization		141			2,199
Restructuring		404			2,220
Impairment losses		-			23,822
Total operating expenses		819			46,711
Operating loss from discontinued operations		(946	)		(35,152	)
Gain on sale of discontinued operations		4,103			-
Net income (loss) from discontinued operations, net of tax	$	3,157		$	(35,152	)

The amounts in the statements of cash flows that are included in discontinued operations are summarized in the following table (in thousands):

	Year Ended February 28,
	2022			2021
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss) from discontinued operations, net of tax	$	3,157		$	(35,152	)
Adjustments to reconcile net income (loss) from discontinued operations to net cash provided by (used in) operating activities:
Depreciation		-			2,260
Intangible asset amortization		141			2,199
Stock-based compensation		25			1,516
Impairment losses		-			23,822
Gain on sale of discontinued operations		(4,103	)		-
Non-cash operating lease cost		-			4,901
Changes in operating assets and liabilities:
Accounts receivable		452			2,584
Inventories		425			2,585
Prepaid expenses and other current assets		4			(123	)
Accounts payable		(331	)		(1,859	)
Accrued liabilities		(135	)		(1,363	)
Deferred revenue		(30	)		(428	)
Operating lease liabilities		-			(5,354	)
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES FROM DISCONTINUED OPERATIONS		(395	)		(4,412	)
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures		-			(2,338	)
Net proceeds from sale of discontinued operations		5,721			-
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES FROM DISCONTINUED OPERATIONS		5,721			(2,338	)
Net change in cash and cash equivalents		5,326			(6,750	)