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SEGMENT REPORTING
 3 Months Ended
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
SoftwareServicesTotal
Revenues$10,715 $8,209 $18,924 
Cost of revenues2,638 6,068 8,706 
Gross profit$8,077 $2,141 $10,218 
Gross margin75 %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
SoftwareServicesTotal
Revenues$7,589 $6,911 $14,500 
Cost of revenues991 3,661 4,652 
Gross profit$6,598 $3,250 $9,848 
Gross margin87 %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, 2024November 30, 2023
$% of total*$% of total
Americas$14,469 76 %$10,891 75 %
EMEA2,720 14 %2,302 16 %
Asia Pacific1,735 9 %1,307 9 %
Total$18,924 100 %$14,500 100 %
*Percentages may not add due to rounding