SEGMENT INFORMATION AND GEOGRAPHIC DATA (Tables)

3 Months Ended

May 31, 2022

Segment Reporting [Abstract]

Summary of Segment Information

Segment information is as follows (in thousands):

	Three Months Ended May 31, 2022												Three Months Ended May 31, 2021
	Reportable Segments												Reportable Segments
	Software & Subscription Services			Telematics Products			Corporate Expenses			Total			Software & Subscription Services			Telematics Products			Corporate Expenses			Total
Revenues	$	39,557		$	25,169					$	64,726		$	35,043		$	44,631					$	79,674
Gross profit	$	18,058		$	7,589					$	25,647		$	16,822		$	15,625					$	32,447
Gross margin		46	%		30	%					40	%		48	%		35	%					41	%
Adjusted EBITDA	$	3,955		$	(747	)	$	(1,352	)	$	1,856		$	5,894		$	3,632		$	(1,141	)	$	8,385

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 May 31,
	2022			2021
Net loss	$	(12,173	)	$	(1,948	)
Less: net income from discontinued operations		-			4,052
Net loss from continuing operations	$	(12,173	)	$	(6,000	)
Investment income (loss)		114			(648	)
Interest expense		1,533			3,849
Income tax provision		249			293
Depreciation		4,156			4,230
Amortization of intangible assets		1,342			1,253
Stock-based compensation		2,960			2,472
Litigation and non-recurring legal expenses		3,131			648
Costs incurred in transition of LoJack North America business to acquiror		752			1,233
Other		(208	)		1,055
Adjusted EBITDA	$	1,856		$	8,385

Summary of Revenues by Geographic Area

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

	Three Months Ended
	May 31,
	2022		2021
United States	$	40,402	$	51,200
EMEA		12,539		14,475
LATAM		5,977		6,525
APAC		5,219		5,401
All other		589		2,073
	$	64,726	$	79,674