RESTRUCTURING ACTIVITIES

9 Months Ended

Nov. 30, 2023

Restructuring and Related Activities [Abstract]

RESTRUCTURING ACTIVITIES

NOTE 7 - RESTRUCTURING ACTIVITIES

During the third quarter of fiscal 2024, we executed a restructuring plan to reduce future operating expenses and better align resources around our long-term business strategy. The restructuring provided for a reduction of our workforce and the exiting of a leased facility. Under the restructuring plan, we recorded restructuring charges of $1.7 million, which included $1.4 million related to severance and $0.3 million related to the write-off of leasehold improvements due to subleasing a facility. These charges are included in restructuring in the condensed consolidated statements of comprehensive loss for the three and nine month period ended November 30, 2023. The liability related to severance of $1.1 million is recorded in accrued payroll and employee benefits as of November 30, 2023.