SEGMENT INFORMATION AND GEOGRAPHIC DATA (Tables)

6 Months Ended

Aug. 31, 2022

Segment Reporting [Abstract]

Summary of Segment Information

Segment information is as follows (in thousands):

	Three Months Ended August 31, 2022												Three Months Ended August 31, 2021
	Reportable Segments												Reportable Segments
	Software & Subscription Services			Telematics Products			Corporate Expenses			Total			Software & Subscription Services			Telematics Products			Corporate Expenses			Total
Revenues	$	44,511		$	28,317					$	72,828		$	41,434		$	37,577					$	79,011
Gross profit	$	20,865		$	8,147					$	29,012		$	21,332		$	12,038					$	33,370
Gross margin		47	%		29	%					40	%		51	%		32	%					42	%
Adjusted EBITDA	$	6,623		$	(1,244	)	$	(613	)	$	4,766		$	9,638		$	(378	)	$	(959	)	$	8,301

	Six Months Ended August 31, 2022												Six Months Ended August 31, 2021
	Reportable Segments												Reportable Segments
	Software & Subscription Services			Telematics Products			Corporate Expenses			Total			Software & Subscription Services			Telematics Products			Corporate Expenses			Total
Revenues	$	84,068		$	53,486					$	137,554		$	76,477		$	82,208					$	158,685
Gross profit	$	38,923		$	15,736					$	54,659		$	38,154		$	27,663					$	65,817
Gross margin		46	%		29	%					40	%		50	%		34	%					41	%
Adjusted EBITDA	$	10,578		$	(1,991	)	$	(1,965	)	$	6,622		$	15,532		$	3,254		$	(2,100	)	$	16,686

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,
	2022			2021			2022			2021
Net loss	$	(7,494	)	$	(5,425	)	$	(19,667	)	$	(7,373	)
Less: net income from discontinued operations		-			-		$	-		$	4,052
Net loss from continuing operations	$	(7,494	)	$	(5,425	)	$	(19,667	)	$	(11,425	)
Investment expense (income)		58			(420	)		172			(1,068	)
Interest expense		1,464			3,804			2,997			7,653
Income tax provision		126			333			375			626
Depreciation		4,059			4,242			8,215			8,472
Amortization of intangible assets		1,330			1,394			2,672			2,647
Stock-based compensation		3,196			2,937			6,156			5,409
Non-recurring legal expenses		1,417			471			4,548			1,119
Costs incurred in transition of LoJack North America business to acquiror		233			482			985			1,715
Other		377			483			169			1,538
Adjusted EBITDA	$	4,766		$	8,301		$	6,622		$	16,686

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,
	2022		2021		2022		2021
United States	$	46,240	$	54,320	$	86,642	$	105,520
EMEA		12,275		12,878		24,814		27,353
LATAM		8,189		7,625		14,166		14,150
APAC		5,590		2,794		10,809		8,195
All other		534		1,394		1,123		3,467
	$	72,828	$	79,011	$	137,554	$	158,685