SEGMENT INFORMATION AND GEOGRAPHIC DATA (Tables)

9 Months Ended

Nov. 30, 2022

Segment Reporting [Abstract]

Summary of Segment Information

Segment information is as follows (in thousands):

	Three Months Ended November 30, 2022												Three Months Ended November 30, 2021
	Reportable Segments												Reportable Segments
	Software & Subscription Services			Telematics Products			Corporate Expenses			Total			Software & Subscription Services			Telematics Products			Corporate Expenses			Total
Revenues	$	49,264		$	29,625					$	78,889		$	36,602		$	32,175					$	68,777
Gross profit	$	20,880		$	5,734					$	26,614		$	18,128		$	9,892					$	28,020
Gross margin		42	%		19	%					34	%		50	%		31	%					41	%
Adjusted EBITDA	$	8,110		$	(2,671	)	$	(741	)	$	4,698		$	6,699		$	(2,808	)	$	(900	)	$	2,991

	Nine Months Ended November 30, 2022												Nine Months Ended November 30, 2021
	Reportable Segments												Reportable Segments
	Software & Subscription Services			Telematics Products			Corporate Expenses			Total			Software & Subscription Services			Telematics Products			Corporate Expenses			Total
Revenues	$	133,332		$	83,111					$	216,443		$	113,079		$	114,383					$	227,462
Gross profit	$	59,803		$	21,470					$	81,273		$	56,282		$	37,555					$	93,837
Gross margin		45	%		26	%					38	%		50	%		33	%					41	%
Adjusted EBITDA	$	18,688		$	(4,662	)	$	(2,706	)	$	11,320		$	22,231		$	446		$	(3,000	)	$	19,677

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,
	2022			2021			2022			2021
Net loss	$	(4,733	)	$	(11,437	)	$	(24,400	)	$	(18,810	)
Less: net (loss) income from discontinued operations		-			(895	)	$	-		$	3,157
Net loss from continuing operations	$	(4,733	)	$	(10,542	)	$	(24,400	)	$	(21,967	)
Investment income		(818	)		(150	)		(646	)		(1,218	)
Interest expense		1,648			3,830			4,645			11,483
Income tax provision		268			205			643			831
Depreciation		3,893			4,581			12,108			13,053
Amortization of intangible assets		1,323			1,386			3,995			4,033
Stock-based compensation		2,030			3,152			8,186			8,561
Non-recurring legal expenses		86			213			4,634			1,332
Costs incurred in transition of LoJack North America business to acquiror		232			69			1,217			1,784
Other		769			247			938			1,785
Adjusted EBITDA	$	4,698		$	2,991		$	11,320		$	19,677

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,
	2022		2021		2022		2021
United States	$	50,387	$	44,613	$	137,029	$	150,133
EMEA		14,919		12,097		39,733		39,450
LATAM		9,011		5,537		23,177		19,687
APAC		2,794		5,760		13,603		15,534
All other		1,778		770		2,901		2,658
	$	78,889	$	68,777	$	216,443	$	227,462