DISCONTINUED OPERATIONS (Tables)

6 Months Ended

Aug. 31, 2021

Discontinued Operations And Disposal Groups [Abstract]

Summary of Financial Results of Discontinued Operations

The below table presents the amounts by balance sheet classification related to our discontinued operations (in thousands):

	February 28,
	2021
Carrying amounts of the major classes of assets included in discontinued operations:
Accounts receivable, net	$	5,050
Inventories		1,721
Prepaid expenses and other current assets		1,101
Total assets	$	7,872
Carrying amounts of the major classes of liabilities included in discontinued operations:
Accounts payable	$	1,956
Deferred revenue		1,849
Other current liabilities		291
Current liabilities of discontinued operations		4,096
Non-current liabilities		1,773
Total liabilities	$	5,869

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

	Three Months Ended			Six Months Ended
	August 31,			August 31,
	2020			2021			2020
Revenues	$	9,140		$	823		$	15,624
Cost of revenues		5,792			950			10,328
Gross profit (loss)		3,348			(127	)		5,296
Operating expenses:
Research and development		416			32			804
Selling and marketing		2,017			167			4,466
General and administrative		1,722			75			3,627
Intangible asset amortization		654			141			1,370
Restructuring		407			404			442
Impairment losses	-				-			4,289
Total operating expenses		5,216			819			14,998
Operating loss from discontinued operations		(1,868	)		(946	)		(9,702	)
Gain on sale of discontinued operations	-				4,998
Net income (loss) from discontinued operations, net of tax	$	(1,868	)	$	4,052		$	(9,702	)

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

	Six Months Ended
	August 31,
	2021			2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss) from discontinued operations, net of tax	$	4,052		$	(9,702	)
Adjustments to reconcile net income (loss) from discontinued operations to net cash used in operating activities:
Depreciation		-			1,487
Intangible asset amortization		141			1,370
Stock-based compensation		25			749
Impairment losses		-			4,289
Gain on sale of discontinued operations		(4,998	)		-
Noncash operating lease cost		-			1,203
Changes in operating assets and liabilities:
Accounts receivable		452			1,453
Inventories		425			1,555
Prepaid expenses and other current assets		4			125
Accounts payable		(331	)		(1,487	)
Accrued liabilities		(135	)		(766	)
Deferred revenue		(30	)		(285	)
Operating lease liabilities		-			(1,384	)
NET CASH USED IN OPERATING ACTIVITIES OF DISCONTINUED OPERATIONS		(395	)		(1,393	)
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures		-			(1,823	)
Proceeds from sale of discontinued operations		6,616			-
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES OF DISCONTINUED OPERATIONS		6,616			(1,823	)
Net change in cash and cash equivalents	$	6,221		$	(3,216	)