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SEGMENT REPORTING | 3 Months Ended
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Nov. 30, 2024
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 November 30, 2024 and 2023, respectively:
(in thousands) |  | Three Months Ended November 30, 2024
|  | Software |  | Services |  | Total
Revenues |  | $ | 10,715 |  |  | $ | 8,209 |  |  | $ | 18,924 |
Cost of revenues |  | 2,638 |  |  | 6,068 |  |  | 8,706 |
Gross profit |  | $ | 8,077 |  |  | $ | 2,141 |  |  | $ | 10,218 |
Gross margin |  | 75 | % |  | 26 | % |  | 54 | %
Our software business and services business represented 57% and 43% of total revenue, respectively, for the three months ended November 30, 2024.
(in thousands) |  | Three Months Ended November 30, 2023
|  | Software |  | Services |  | Total
Revenues |  | $ | 7,589 |  |  | $ | 6,911 |  |  | $ | 14,500 |
Cost of revenues |  | 991 |  |  | 3,661 |  |  | 4,652 |
Gross profit |  | $ | 6,598 |  |  | $ | 3,250 |  |  | $ | 9,848 |
Gross margin |  | 87 | % |  | 47 | % |  | 68 | %
Our software business and services business represented 52% and 48% of total revenue, respectively, for the three months ended November 30, 2023. The Company allocates revenues to geographic areas based on the locations of its customers. Geographical revenues for the three months ended November 30, 2024 and 2023 were as follows:
|  | Three Months Ended |  |  |  |
(in thousands) |  | November 30, 2024 |  | November 30, 2023 |  |
|  | $ |  | % of total* |  | $ |  | % of total |  |  |  |
Americas |  | $ | 14,469 |  |  | 76 | % |  | $ | 10,891 |  |  | 75 | % |  |  |  |
EMEA |  | 2,720 |  |  | 14 | % |  | 2,302 |  |  | 16 | % |  |  |  |
Asia Pacific |  | 1,735 |  |  | 9 | % |  | 1,307 |  |  | 9 | % |  |  |  |
Total |  | $ | 18,924 |  |  | 100 | % |  | $ | 14,500 |  |  | 100 | % |  |  |  |
*Percentages may not add due to rounding

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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/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards 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