Historically, our business activities were organized into two reportable segments – Wireless DataCom and Satellite. Effective August 31, 2016, we ceased operations of the Satellite business and reported thereafter through the first quarter of fiscal 2018 under one reportable segment: Wireless DataCom. In the quarter ended August 31, 2017, we realigned our operations and now operate under two reportable segments: Telematics Systems and Software & Subscription Services. Our organizational structure is based on a number of factors that our CEO, the Chief Operating Decision Maker (“CODM”), uses to evaluate and operate the business, which include customer base, homogeneity of products, and technology. We have recast prior period amounts to conform to the way we internally manage and monitor segment performance.

The Telematics Systems segment offers a portfolio of wireless data communications products, which includes asset tracking units, mobile telematics devices, fixed and mobile wireless gateways and routers. These wireless networking devices underpin a wide range of our own and third party software and service solutions worldwide and are critical for applications demanding secure, reliable and business-critical communications. Telematics Systems segment revenues consist primarily of stand-alone product sales.

The Software & Subscription Services segment offers cloud-based, application enablement and telematics service platforms that facilitate integration of our own applications, as well as those of third parties, through open Applications Programing Interfaces (“APIs”) to deliver full-featured IoT solutions to a wide range of customers and markets. Our scalable proprietary SaaS offerings enable rapid and cost-effective deployment of high-value solutions for customers all around the globe. Software & Subscription Services segment revenues includes SaaS, professional services, devices sold with monitoring services and amortization of costs for customized devices functional only with application subscriptions that are not sold separately.

	Year ended February 28, 2019
	Operating Segments
	Telematics Systems		Software & Subscription Services		Corporate Expenses			Total
Revenues	$	287,370	$	76,430	$	-		$	363,800
Adjusted EBITDA	$	40,821	$	13,093	$	(5,699	)	$	48,215

	Year ended February 28, 2018
	Operating Segments
	Telematics Systems		Software & Subscription Services		Corporate Expenses			Total
Revenues	$	302,126	$	63,786	$	-		$	365,912
Adjusted EBITDA	$	48,943	$	8,233	$	(4,794	)	$	52,382

	Year ended February 28, 2017
	Operating Segments
	Telematics Systems		Software & Subscription Services		Satellite		Corporate Expenses			Total
Revenues	$	274,314	$	61,719	$	15,069	$	-		$	351,102
Adjusted EBITDA	$	47,432	$	3,075	$	2,447	$	(3,586	)	$	49,368

	Operating Segments
	Telematics Systems		Software & Subscription Services		Total
Goodwill
As of February 28, 2019	$	51,203	$	29,602	$	80,805
As of February 28, 2018	$	50,899	$	22,081	$	72,980

The amount shown for each period in the “Corporate Expenses” column above consists of expenses that are not allocated to the business segments. These unallocated corporate expenses include salaries and benefits of certain corporate staff and expenses such as audit fees, investor relations, stock listing fees, director and officer liability insurance, and director fees and expenses.

Our CODM evaluates each segment based on Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (“Adjusted EBITDA”), and we therefore consider Adjusted EBITDA to be a primary measure of operating performance of our operating segments. We define Adjusted EBITDA as earnings before investment income, interest expense, taxes, depreciation, amortization and stock-based compensation and other adjustments as identified below. The adjustments to our financial results prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) to calculate Adjusted EBITDA are itemized below (in thousands):

	Year Ended February 28,
	2019			2018			2017
Net income (loss)	$	18,398		$	16,617		$	(7,904	)
Investment income		(5,258	)		(2,256	)		(1,691	)
Interest expense		16,726			10,280			9,896
Income tax provision (benefits)		(1,330	)		10,681			(1,563	)
Depreciation and amortization		20,016			22,957			23,469
Stock-based compensation		11,029			9,298			7,833
Impairment loss and equity in net loss of affiliate		6,787			1,411			1,284
Loss on extinguishment of debt		2,033			-			-
Acquisition and integration related expenses		935			-			4,513
Non-recurring legal expenses, net of reversal of litigation provision		(11,020	)		10,738			9,192
Gain on LoJack battery performance legal Settlement		(18,333	)		(28,333	)		-
Restructuring		8,015			-			-
Other		217			989			4,339
Adjusted EBITDA	$	48,215		$	52,382		$	49,368

It is not practicable for us to report identifiable assets by segment because these businesses share resources, functions and facilities.

	Year Ended February 28,
	2019		2018		2017
United States	$	268,453	$	265,613	$	259,974
Europe, Middle East and Africa		49,496		45,830		49,918
South America		15,134		20,699		17,738
Canada		9,815		14,958		8,412
Asia and Pacific Rim		13,958		12,873		8,967
All other		6,944		5,939		6,093
	$	363,800	$	365,912	$	351,102

Revenues by geographic area are based upon the country of billing. The geographic location of distributors and OEM customers may be different from the geographic location of the ultimate end users of the products and services provided by us. No single non-U.S. country accounted for more than 10% of our revenue in fiscal years ended February 28, 2019, 2018 and 2017.