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SEGMENT REPORTING | 9 Months Ended
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May 31, 2025
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, 2025, and May 31, 2024, respectively. Please refer to Results of Operations within MD&A for a discussion of results in below tables:
(in thousands) |  | Three Months Ended May 31, 2025
|  | Software |  | Services |  | Total
Revenues |  | $ | 12,615 |  |  | $ | 7,748 |  |  | $ | 20,363 |
Cost of revenues |  | 2,540 |  |  | 4,791 |  |  | 7,331 |
Gross profit |  | $ | 10,075 |  |  | $ | 2,957 |  |  | $ | 13,032 |
Gross margin |  | 80 | % |  | 38 | % |  | 64 | %
Our software segment and services segment represented 62% and 38% of total revenue, respectively, for the three months ended May 31, 2025.
(in thousands) |  | Three Months Ended May 31, 2024
|  | Software |  | Services |  | Total
Revenues |  | $ | 11,908 |  |  | $ | 6,636 |  |  | $ | 18,544 |
Cost of revenues |  | 1,400 |  |  | 3,887 |  |  | 5,287 |
Gross profit |  | $ | 10,508 |  |  | $ | 2,749 |  |  | $ | 13,257 |
Gross margin |  | 88 | % |  | 41 | % |  | 71 | %
Our software segment and services segment represented 64% and 36% of total revenue, respectively, for the three months ended May 31, 2024. The following tables summarize the results for each segment for the nine months ended May 31, 2025, and May 31, 2024, respectively. Please refer to Results of Operations within MD&A for a discussion of results in below tables:
(in thousands) |  | Nine Months Ended May 31, 2025
|  | Software |  | Services |  | Total
Revenues |  | $ | 36,814 |  |  | $ | 24,905 |  |  | $ | 61,719 |
Cost of revenues |  | 7,765 |  |  | 17,577 |  |  | 25,342 |
Gross profit |  | $ | 29,049 |  |  | $ | 7,328 |  |  | $ | 36,377 |
Gross margin |  | 79 | % |  | 29 | % |  | 59 | %
Our software segment and services segment represented 60% and 40% of total revenue, respectively, for the nine months ended May 31, 2025.
(in thousands) |  | Nine Months Ended May 31, 2024
|  | Software |  | Services |  | Total
Revenues |  | $ | 31,111 |  |  | $ | 20,238 |  |  | $ | 51,349 |
Cost of revenues |  | 3,739 |  |  | 11,284 |  |  | 15,023 |
Gross profit |  | $ | 27,372 |  |  | $ | 8,954 |  |  | $ | 36,326 |
Gross margin |  | 88 | % |  | 44 | % |  | 71 | %
Our software segment and services segment represented 61% and 39% of total revenue, respectively, for the nine months ended May 31, 2024. The Company allocates revenues to geographic areas based on the locations of its customers. Geographical revenues for the three and nine months ended May 31, 2025, and May 31, 2024, were as follows:
(in thousands) |  | Three Months Ended
|  | May 31, 2025 |  | May 31, 2024
|  | $ |  | % of total |  | $ |  | % of total
Americas |  | $ | 14,544 |  |  | 71 | % |  | $ | 12,428 |  |  | 67 | %
EMEA |  | 3,698 |  |  | 18 | % |  | 4,513 |  |  | 24 | %
Asia Pacific |  | 2,121 |  |  | 11 | % |  | 1,603 |  |  | 9 | %
Total |  | $ | 20,363 |  |  | 100 | % |  | $ | 18,544 |  |  | 100 | %
(in thousands) |  | Nine Months Ended |  |  |  |
|  | May 31, 2025 |  | May 31, 2024 |  |
|  | $ |  | % of total* |  | $ |  | % of total |  |  |  |
Americas |  | $ | 45,125 |  |  | 73 | % |  | $ | 35,781 |  |  | 70 | % |  |  |  |
EMEA |  | 11,224 |  |  | 18 | % |  | 11,479 |  |  | 22 | % |  |  |  |
Asia Pacific |  | 5,370 |  |  | 9 | % |  | 4,089 |  |  | 8 | % |  |  |  |
Total |  | $ | 61,719 |  |  | 100 | % |  | $ | 51,349 |  |  | 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/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 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name 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