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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
May 31, 2020
May 31, 2019
May 31, 2020
May 31, 2019
Income Statement [Abstract]        
Revenues $ 12,298,036 $ 9,936,921 $ 32,049,003 $ 25,944,545
Cost of revenues 2,665,405 2,324,188 7,974,702 6,734,890
Gross margin 9,632,630 7,612,733 24,074,301 19,209,655
Operating expenses        
Selling, general, and administrative 5,023,132 3,087,445 12,646,512 8,613,788
Research and development 752,719 643,255 2,026,684 1,896,926
Total operating expenses 5,775,851 3,730,700 14,673,197 10,510,714
Income from operations 3,856,779 3,882,033 9,401,104 8,698,941
Other income (expense)        
Interest income 4,465 11,050 27,814 20,296
Interest expense 0 (32,702) 0 (109,078)
Change in value of contingent consideration (81,000) 0 (81,000) 0
(Loss) income on currency exchange (602) (7,941) 1,283 (40,467)
Total other income (expense) (77,137) (29,593) (51,902) (129,249)
Income before provision for income taxes 3,779,642 3,852,440 9,349,202 8,569,692
Provision for income taxes (844,073) (963,734) (2,205,276) (2,045,590)
Net Income $ 2,935,569 $ 2,888,706 $ 7,143,925 $ 6,524,102
Earnings per share        
Basic $ 0.17 $ 0.16 $ 0.40 $ 0.37
Diluted $ 0.16 $ 0.16 $ 0.39 $ 0.36
Weighted-average common shares outstanding        
Basic 17,735,354 17,519,849 17,661,189 17,472,922
Diluted 18,426,872 18,096,195 18,333,596 18,008,336
Other Comprehensive Income (Loss), net of tax        
Foreign currency translation adjustments $ 30,460 $ 0 $ 30,460 $ 0
Comprehensive Income (Loss) $ 2,966,029 $ 2,888,706 $ 7,174,385 $ 6,524,102