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SEGMENT REPORTING | 9 Months Ended
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May 31, 2023
Segment Reporting [Abstract] |
SEGMENT REPORTING | SEGMENT REPORTING The Company applies ASC 280, Segment Reporting, in determining reportable segments. The Company has two reportable segments: Software and Services. Segment information is presented in the same manner that the chief operating decision maker (“CODM”) reviews certain financial information based on these reportable segments. The CODM reviews revenue and gross profit for both of the reportable segments. Gross profit is defined as revenue less cost of revenue incurred by the segment. No operating segments have been aggregated to form the reportable segments. The Company does not allocate assets at the reportable segment level, as these are managed on an entity-wide group basis and, accordingly, the Company does not report asset information by segment. The Company does not allocate operating expenses that are managed on an entity-wide group basis and, accordingly, the Company does not allocate and report operating expenses at a segment level. There are no internal revenue transactions between the Company’s segments. The following tables summarize the results for each segment for the three months ended May 31, 2023, and 2022:
(in thousands) |  | Three Months Ended May 31, 2023
|  | Software |  | Services |  | Total
Revenues |  | $ | 10,632 |  |  | $ | 5,602 |  |  | $ | 16,234 |
Cost of revenues |  | 908 |  |  | 2,053 |  |  | 2,961 |
Gross profit |  | $ | 9,724 |  |  | $ | 3,549 |  |  | $ | 13,273 |
Gross margin |  | 91 | % |  | 63 | % |  | 82 | %
Our software business and services business represented 65% and 35% of total revenue, respectively, for the three months ended May 31, 2023.
(in thousands) |  | Three Months Ended May 31, 2022
|  | Software |  | Services |  | Total
Revenues |  | $ | 9,647 |  |  | $ | 5,312 |  |  | $ | 14,959 |
Cost of revenues |  | 730 |  |  | 1,829 |  |  | 2,559 |
Gross profit |  | $ | 8,917 |  |  | $ | 3,483 |  |  | $ | 12,400 |
Gross margin |  | 92 | % |  | 66 | % |  | 83 | %
Our software business and services business represented 64% and 36% of total revenue, respectively, for the three months ended May 31, 2022. The following tables summarize the results for each segment for the nine months ended May 31, 2023, and 2022:
(in thousands) |  | Nine Months Ended May 31, 2023
|  | Software |  | Services |  | Total
Revenues |  | $ | 27,193 |  |  | $ | 16,755 |  |  | $ | 43,948 |
Cost of revenues |  | 2,636 |  |  | 5,616 |  |  | 8,252 |
Gross profit |  | $ | 24,557 |  |  | $ | 11,139 |  |  | $ | 35,696 |
Gross margin |  | 90 | % |  | 66 | % |  | 81 | %
Our software business and services business represented 62% and 38% of total revenue, respectively, for the nine months ended May 31, 2023.
(in thousands) |  | Nine Months Ended May 31, 2022
|  | Software |  | Services |  | Total
Revenues |  | $ | 26,767 |  |  | $ | 15,405 |  |  | $ | 42,172 |
Cost of revenues |  | 2,245 |  |  | 5,900 |  |  | 8,145 |
Gross profit |  | $ | 24,522 |  |  | $ | 9,505 |  |  | $ | 34,027 |
Gross margin |  | 92 | % |  | 62 | % |  | 81 | %
Our software business and services business represented 63% and 37% of total revenue, respectively, for the nine months ended May 31, 2022.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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