SEGMENT INFORMATION AND GEOGRAPHIC DATA (Tables)

6 Months Ended

Aug. 31, 2019

Segment Reporting [Abstract]

Summary of Segment Information

Segment information for the three and six months ended August 31, 2019 and 2018 is as follows (in thousands):

	Three Months Ended August 31, 2019												Three Months Ended August 31, 2018
	Operating Segments												Operating Segments
	Telematics Systems			Software & Subscription Services			Corporate Expenses			Total			Telematics Systems			Software & Subscription Services			Corporate Expenses			Total
Revenues	$	62,031		$	31,205		$	—		$	93,236		$	77,100		$	18,937		$	—		$	96,037
Gross profit	$	24,310		$	13,360		$	—		$	37,670		$	30,396		$	9,425		$	—		$	39,821
Gross margin		39	%		43	%		0	%		40	%		39	%		50	%		0	%		41	%
Adjusted EBITDA	$	7,514		$	3,947		$	(814	)	$	10,647		$	11,682		$	3,373		$	(1,366	)	$	13,689

	Six Months Ended August 31, 2019												Six Months Ended August 31, 2018
	Operating Segments												Operating Segments
	Telematics Systems			Software & Subscription Services			Corporate Expenses			Total			Telematics Systems			Software & Subscription Services			Corporate Expenses			Total
Revenues	$	125,590		$	56,716		$	—		$	182,306		$	153,452		$	37,473		$	—		$	190,925
Gross profit	$	49,321		$	23,760		$	—		$	73,081		$	59,905		$	18,007		$	—		$	77,912
Gross margin		39	%		42	%		0	%		40	%		39	%		48	%		0	%		41	%
Adjusted EBITDA	$	14,507		$	6,321		$	(2,612	)	$	18,216		$	22,496		$	6,295		$	(2,925	)	$	25,866

Summary of Adjusted EBITDA

The adjustments to our net income (losses) prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) to calculate Adjusted EBITDA are itemized below (in thousands):

	Three Months Ended August 31,						Six Months Ended August 31,
	2019			2018			2019			2018
Net income (loss)	$	(7,369	)	$	(854	)	$	(16,062	)	$	7,657
Investment income		(1,256	)		(1,007	)		(3,337	)		(1,860	)
Interest expense		5,555			3,767			11,011			6,432
Income tax provision		(1,342	)		(497	)		(3,599	)		1,274
Depreciation		5,191			2,298			9,036			4,341
Amortization of intangible assets		3,318			2,893			6,358			5,641
Stock-based compensation		3,183			2,680			5,726			5,147
Loss on extinguishment of debt		—			2,033			—			2,033
Impairment loss and equity in net loss of affiliate		—			530			530			969
Restructuring charges		2,272			566			2,272			3,949
Non-recurring legal expenses		777			1,023			4,584			3,137
Acquisition and integration related expenses		46			—			1,190			—
Gain on LoJack battery performance legal Settlement		—			—			-			(13,333	)
Other		272			257			507			479
Adjusted EBITDA	$	10,647		$	13,689		$	18,216		$	25,866

Summary of Revenues by Geographic Area

Revenues by geographic area are as follows (in thousands):

	Three Months Ended				Six Months Ended
	August 31,				August 31,
	2019		2018		2019		2018
United States	$	68,684	$	70,647	$	131,806	$	141,064
Europe, Middle East and Africa		13,298		13,788		26,724		27,132
Latin America		4,227		1,723		7,713		4,129
Canada		2,481		2,338		5,317		3,702
Asia and Pacific Rim		1,940		3,480		4,349		7,239
All other		2,606		4,061		6,397		7,659
	$	93,236	$	96,037	$	182,306	$	190,925