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SEGMENT REPORTING
 9 Months Ended
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
SoftwareServicesTotal
Revenues$10,632 $5,602 $16,234 
Cost of revenues908 2,053 2,961 
Gross profit$9,724 $3,549 $13,273 
Gross margin91 %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
SoftwareServicesTotal
Revenues$9,647 $5,312 $14,959 
Cost of revenues730 1,829 2,559 
Gross profit$8,917 $3,483 $12,400 
Gross margin92 %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
SoftwareServicesTotal
Revenues$27,193 $16,755 $43,948 
Cost of revenues2,636 5,616 8,252 
Gross profit$24,557 $11,139 $35,696 
Gross margin90 %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
SoftwareServicesTotal
Revenues$26,767 $15,405 $42,172 
Cost of revenues2,245 5,900 8,145 
Gross profit$24,522 $9,505 $34,027 
Gross margin92 %62 %81 %
Our software business and services business represented 63% and 37% of total revenue, respectively, for the nine months ended May 31, 2022.