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SIGNIFICANT ACCOUNTING POLICIES (Tables) | 3 Months Ended
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Nov. 30, 2023
Accounting Policies [Abstract] |
Disaggregation of Revenue | The components of disaggregation of revenue for the three months ended November 30, 2023 and 2022 were as follows:
|  |  |  | Three Months Ended November 30, |  |
(in thousands) |  |  |  |  |  | 2023 |  | 2022 |  |
Software licenses |  |  |  |  |  |  |  |  |  |
Point in time |  |  |  |  |  | $ | 7,321 |  |  | $ | 5,802 |  |  |
Over time |  |  |  |  |  | 268 |  |  | 272 |  |  |
Services |  |  |  |  |  |  |  |  |  |
Over time |  |  |  |  |  | 6,911 |  |  | 5,890 |  |  |
Total revenue |  |  |  |  |  | $ | 14,500 |  |  | $ | 11,964 |  |  |
Schedule of Geographical Revenues | Geographical revenues for the three months ended November 30, 2023 and 2022 were as follows:
|  | Three Months Ended November 30, |  |  |  |  |  |  |  |
(in thousands) |  | 2023 |  | 2022 |  |  |  |  |  |
|  | $ |  | % of total |  | $ |  | % of total |  |  |  |  |  |  |  |
Americas |  | $ | 10,891 |  |  | 75 | % |  | $ | 8,500 |  |  | 71 | % |  |  |  |  |  |  |  |
EMEA |  | 2,302 |  |  | 16 | % |  | 2,130 |  |  | 18 | % |  |  |  |  |  |  |  |
Asia Pacific |  | 1,307 |  |  | 9 | % |  | 1,334 |  |  | 11 | % |  |  |  |  |  |  |  |
Total |  | $ | 14,500 |  |  | 100 | % |  | $ | 11,964 |  |  | 100 | % |  |  |  |  |  |  |  |
Accounts Receivable, Allowance for Credit Loss | The activity in the allowance for credit losses related to our trade receivables is summarized as follows:
|  |  |  | Three Months Ended November 30, |  |
(in thousands) |  |  |  |  |  | 2023 |  | 2022 |  |
Balance, beginning of period |  |  |  |  |  | $ | 46 |  |  | $ | 12 |  |  |
Provision for expected credit losses |  |  |  |  |  | (9) |  |  | — |  |  |
Balance, end of period |  |  |  |  |  | $ | 37 |  |  | $ | 12 |  |  |
Property and Equipment estimated useful lives | Depreciation and amortization are calculated using the straight-line method over the estimated useful lives as follows:
Equipment | 5 years
Computer equipment | 3 to 7 years
Furniture and fixtures | 5 to 7 years
Leasehold improvements | Shorter of the asset life or lease term
Lease, Cost | Supplemental balance sheet information related to operating leases was as follows as of November 30, 2023:
(in thousands) |  |
Right of use assets |  | $ | 1,118 |
Lease liabilities, current |  | $ | 420 |
Lease liabilities, long-term |  | $ | 669 |
Operating lease costs |  | $ | 117 |
Weighted-average remaining lease term |  | 3.12 years
Weighted-average discount rate |  | 4.93 | %
Schedule of Finite-Lived Intangible Assets | The following table summarizes other intangible assets as of November 30, 2023:
(in thousands) |  | Amortization Period |  | Acquisition Value |  | Accumulated Amortization |  | Net Book Value
Trade names |  | None |  | $ | 4,210 |  |  | $ | — |  |  | $ | 4,210 |
Covenants not to compete |  | Straight line 2 to 3 years |  | 30 |  |  | 7 |  |  | 23 |
Other internal use software |  | Straight line 3 to 5 years |  | 306 |  |  | 13 |  |  | 293 |
Customer relationships |  | Straight line 8 to 14 years |  | 8,230 |  |  | 2,085 |  |  | 6,145 |
ERP |  | Straight line 15 years |  | 2,529 |  |  | 246 |  |  | 2,283 |
|  |  |  | $ | 15,305 |  |  | $ | 2,351 |  |  | $ | 12,954 |
The following table summarizes other intangible assets as of August 31, 2023:
(in thousands) |  | Amortization Period |  | Acquisition Value |  | Accumulated Amortization |  | Net Book Value
Trade names |  | None |  | $ | 4,210 |  |  | $ | — |  |  | $ | 4,210 |
Covenants not to compete |  | Straight line 3 years |  | 30 |  |  | 3 |  |  | 27 |
Other internal use software |  | Straight line 3 to 5 years |  | 350 |  |  | 10 |  |  | 340 |
Customer relationships |  | Straight line 8 to 14 years |  | 8,230 |  |  | 1,887 |  |  | 6,343 |
ERP |  | Straight line 15 years |  | 2,112 |  |  | 207 |  |  | 1,905 |
|  |  |  | $ | 14,932 |  |  | $ | 2,107 |  |  | $ | 12,825 |
Finite-lived Intangible Assets Amortization Expense | Estimated future amortization of finite-lived intangible assets for the next five fiscal years is as follows:
(in thousands) |  |
Years ending August 31, |  | Amount
Remainder of 2024 |  | $ | 716 |
2025 |  | $ | 957 |
2026 |  | $ | 945 |
2027 |  | $ | 898 |
2028 |  | $ | 755 |
Fair Value, Liabilities Measured on Recurring and Nonrecurring Basis | The following tables summarize our short-term investments as of November 30, 2023, and August 31, 2023:
|  | November 30, 2023
(in thousands) |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
Commercial notes (due within one year) |  | $ | 70,101 |  |  | $ | — |  |  | $ | (33) |  |  | $ | 70,068 |
Term deposits (due within one year) |  | 4,000 |  |  | — |  |  | — |  |  | 4,000 |
Total |  | $ | 74,101 |  |  | $ | — |  |  | $ | (33) |  |  | $ | 74,068 |
|  | August 31, 2023
(in thousands) |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
Commercial notes (due within one year) |  | $ | 53,940 |  |  | $ | — |  |  | $ | (115) |  |  | $ | 53,825 |
Term deposits (due within one year) |  | 4,000 |  |  | — |  |  | — |  |  | 4,000 |
Total |  | $ | 57,940 |  |  | $ | — |  |  | $ | (115) |  |  | $ | 57,825 |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation | The following is a reconciliation of contingent consideration at fair value:
(in thousands) |  | Amount
Contingent consideration as of August 31, 2023 |  | $ | 4,780 |
Change in fair value of contingent consideration |  | (110) |
Contingent consideration as of November 30, 2023 |  | $ | 4,670 |
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination | The following table summarizes intellectual property as of November 30, 2023:
(in thousands) |  | Amortization Period |  | Acquisition Value |  | Accumulated Amortization |  | Net Book Value
Termination/nonassertion agreement-TSRL Inc. |  | Straight line 10 years |  | $ | 6,000 |  |  | $ | 5,725 |  |  | $ | 275 |
Developed technologies–DILIsym acquisition |  | Straight line 9 years |  | 2,850 |  |  | 2,057 |  |  | 793 |
Intellectual rights of Entelos Holding Company |  | Straight line 10 years |  | 50 |  |  | 26 |  |  | 24 |
Developed technologies–Immunetrics acquisition |  | Straight line 5 years |  | 1,080 |  |  | 99 |  |  | 981 |
Developed technologies–Lixoft acquisition |  | Straight line 16 years |  | 8,010 |  |  | 1,802 |  |  | 6,208 |
|  |  |  | $ | 17,990 |  |  | $ | 9,709 |  |  | $ | 8,281 |
The following table summarizes intellectual property as of August 31, 2023:
(in thousands) |  | Amortization Period |  | Acquisition Value |  | Accumulated Amortization |  | Net Book Value
Termination/nonassertion agreement-TSRL Inc. |  | Straight line 10 years |  | $ | 6,000 |  |  | $ | 5,575 |  |  | $ | 425 |
Developed technologies–DILIsym acquisition |  | Straight line 9 years |  | 2,850 |  |  | 1,978 |  |  | 872 |
Intellectual rights of Entelos Holding Company |  | Straight line 10 years |  | 50 |  |  | 25 |  |  | 25 |
Developed technologies–Immunetrics acquisition |  | Straight line 5 years |  | 1,080 |  |  | 45 |  |  | 1,035 |
Developed technologies–Lixoft acquisition |  | Straight line 16 years |  | 8,010 |  |  | 1,678 |  |  | 6,332 |
|  |  |  | $ | 17,990 |  |  | $ | 9,301 |  |  | $ | 8,689 |
Schedule of Future Amortization Expenses | Estimated future amortization of intellectual property for the next five years is as follows:
(in thousands) |  |
Years ending August 31, |  | Amount
Remainder of 2024 |  | $ | 1,026 |
2025 |  | $ | 1,009 |
2026 |  | $ | 933 |
2027 |  | $ | 693 |
2028 |  | $ | 648 |
Schedule of Earnings Per Share, Basic and Diluted | The components of basic and diluted earnings per share for the three months ended November 30, 2023 and 2022 were as follows:
|  |  |  | Three Months Ended November 30, |  |
(in thousands) |  |  |  |  |  | 2023 |  | 2022 |  |
Numerator |  |  |  |  |  |  |  |  |  |
Net income attributable to common shareholders |  |  |  |  |  | $ | 1,945 |  |  | $ | 1,245 |  |  |
Denominator |  |  |  |  |  |  |  |  |  |
Weighted-average number of common shares outstanding during the period |  |  |  |  |  | 19,947 |  |  | 20,286 |  |  |
Dilutive effect of stock options |  |  |  |  |  | 332 |  |  | 539 |  |  |
Common stock and common stock equivalents used for diluted earnings per share |  |  |  |  |  | 20,279 |  |  | 20,825 |  |  |
Schedule of Goodwill | Reconciliation of Goodwill for the three months ended November 30, 2023:
(in thousands) |  | CPP |  | QSP |  |  |  |  |  | Total
Balance, August 31, 2023 |  | $ | 7,323 |  |  | $ | 11,776 |  |  |  |  |  |  | $ | 19,099 |
Addition |  | — |  |  | — |  |  |  |  |  |  | — |
Impairments |  | — |  |  | — |  |  |  |  |  |  | — |
Balance, November 30, 2023 |  | $ | 7,323 |  |  | $ | 11,776 |  |  |  |  |  |  | $ | 19,099 |

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