SEGMENT INFORMATION AND GEOGRAPHIC DATA (Tables)

9 Months Ended

Nov. 30, 2019

Segment Reporting [Abstract]

Summary of Segment Information

Segment information for the three and nine months ended November 30, 2019 and 2018 is as follows (in thousands):

	Three Months Ended November 30, 2019												Three Months Ended November 30, 2018
	Operating Segments												Operating Segments
	Telematics Systems			Software & Subscription Services			Corporate Expenses			Total			Telematics Systems			Software & Subscription Services			Corporate Expenses			Total
Revenues	$	63,192		$	33,405					$	96,597		$	68,552		$	19,943					$	88,495
Gross profit	$	20,956		$	15,928					$	36,884		$	26,284		$	10,097					$	36,381
Gross margin		33	%		48	%					38	%		38	%		51	%					41	%
Adjusted EBITDA	$	4,518		$	7,254		$	(867	)	$	10,905		$	9,276		$	3,612		$	(1,465	)	$	11,423

	Nine Months Ended November 30, 2019												Nine Months Ended November 30, 2018
	Operating Segments												Operating Segments
	Telematics Systems			Software & Subscription Services			Corporate Expenses			Total			Telematics Systems			Software & Subscription Services			Corporate Expenses			Total
Revenues	$	188,782		$	90,121					$	278,903		$	222,004		$	57,416					$	279,420
Gross profit	$	70,277		$	39,688					$	109,965		$	86,189		$	28,104					$	114,293
Gross margin		37	%		44	%					39	%		39	%		49	%					41	%
Adjusted EBITDA	$	19,025		$	13,575		$	(3,479	)	$	29,121		$	31,772		$	9,907		$	(4,390	)	$	37,289

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 November 30,						Nine Months Ended November 30,
	2019			2018			2019			2018
Net income (loss)	$	(7,415	)	$	(522	)	$	(23,477	)	$	7,135
Investment income		(1,108	)		(1,398	)		(4,445	)		(3,258	)
Interest expense		4,987			5,134			15,998			11,566
Income tax provision		(2,637	)		(778	)		(6,236	)		496
Depreciation		5,018			2,261			14,054			6,602
Amortization of intangible assets		3,325			2,893			9,683			8,534
Stock-based compensation		3,652			2,941			9,378			8,088
Loss on extinguishment of debt		2,408			—			2,408			2,033
Impairment loss and equity in net loss of affiliate		—			445			530			1,414
Restructuring charges		848			1,247			3,120			5,196
Non-recurring legal expenses		957			2,116			5,541			5,253
Acquisition and integration related expenses		382			—			1,572			—
Gain on LoJack battery performance legal Settlement		—			(2,500	)		-			(15,833	)
Other		488			(416	)		995			63
Adjusted EBITDA	$	10,905		$	11,423		$	29,121		$	37,289

Summary of Revenues by Geographic Area

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

	Three Months Ended				Nine Months Ended
	November 30,				November 30,
	2019		2018		2019		2018
United States	$	69,961	$	67,088	$	201,678	$	208,152
Europe, Middle East and Africa		14,818		10,328		41,625		37,460
Latin America		1,044		832		4,307		4,961
Canada		2,236		3,249		7,553		6,951
Asia and Pacific Rim		3,044		3,465		7,394		10,704
All other		5,494		3,533		16,346		11,192
	$	96,597	$	88,495	$	278,903	$	279,420