SEGMENT INFORMATION AND GEOGRAPHIC DATA (Tables)

6 Months Ended

Aug. 31, 2021

Segment Reporting [Abstract]

Summary of Segment Information

Segment information is as follows (in thousands):

	Three Months Ended August 31, 2021												Three Months Ended August 31, 2020
	Reportable Segments												Reportable Segments
	Software & Subscription Services			Telematics Products			Corporate Expenses			Total			Software & Subscription Services			Telematics Products			Corporate Expenses			Total
Revenues	$	41,434		$	37,577					$	79,011		$	33,440		$	40,957					$	74,397
Gross profit	$	21,332		$	12,038					$	33,370		$	16,639		$	10,823					$	27,462
Gross margin		51	%		32	%					42	%		50	%		26	%					37	%
Adjusted EBITDA	$	9,638		$	(378	)	$	(959	)	$	8,301		$	7,695		$	(1,726	)	$	(921	)	$	5,048

	Six Months Ended August 31, 2021												Six Months Ended August 31, 2020
	Reportable Segments												Reportable Segments
	Software & Subscription Services			Telematics Products			Corporate Expenses			Total			Software & Subscription Services			Telematics Products			Corporate Expenses			Total
Revenues	$	76,477		$	82,208					$	158,685		$	61,213		$	86,915					$	148,128
Gross profit	$	38,154		$	27,663					$	65,817		$	30,347		$	26,220					$	56,567
Gross margin		50	%		34	%					41	%		50	%		30	%					38	%
Adjusted EBITDA	$	15,532		$	3,254		$	(2,100	)	$	16,686		$	14,168		$	1,489		$	(2,318	)	$	13,339

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,
	2021			2020			2021			2020
Net loss	$	(5,425	)	$	(9,478	)	$	(7,373	)	$	(23,900	)
Less: net income (loss) from discontinued operations		-			(1,868	)	$	4,052		$	(9,702	)
Net loss from continuing operations	$	(5,425	)	$	(7,610	)	$	(11,425	)	$	(14,198	)
Investment income		(420	)		(680	)		(1,068	)		(698	)
Interest expense		3,804			3,857			7,653			7,934
Income tax provision		333			266			626			506
Depreciation		4,242			4,274			8,472			8,496
Amortization of intangible assets		1,394			1,190			2,647			2,366
Stock-based compensation		2,937			2,473			5,409			4,845
Impairment loss		—			286			—			286
Restructuring charges		—			144			336			2,017
Non-recurring legal expenses		471			170			1,119			963
Costs incurred in transition of LoJack North America business to acquiror		482			—			1,715			—
Other		483			678			1,202			822
Adjusted EBITDA	$	8,301		$	5,048		$	16,686		$	13,339

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,
	2021		2020		2021		2020
United States	$	54,320	$	49,805	$	105,520	$	94,871
Europe, Middle East and Africa		12,878		15,537		27,353		31,443
South America		7,625		5,687		14,150		11,729
Asia and Pacific Rim		2,794		1,704		8,195		4,043
All other		1,394		1,664		3,467		6,042
	$	79,011	$	74,397	$	158,685	$	148,128