SEGMENT INFORMATION AND GEOGRAPHIC DATA (Tables)

3 Months Ended

May 31, 2020

Segment information is as follows (in thousands):

	Three Months Ended May 31, 2020															Three Months Ended May 31, 2019
	Reportable Segments															Reportable Segments
	Software & Subscription Services			Telematics Products			LoJack U.S. SVR Products			Corporate Expenses			Total			Software & Subscription Services			Telematics Products			LoJack U.S. SVR Products			Corporate Expenses			Total
Revenues	$	28,029		$	45,539		$	6,647					$	80,215		$	25,511		$	51,198		$	12,361					$	89,070
Gross profit	$	13,815		$	15,120		$	2,118					$	31,053		$	10,400		$	20,044		$	4,967					$	35,411
Gross margin		49	%		33	%		32	%					39	%		41	%		39	%		40	%					40	%
Adjusted EBITDA	$	6,354		$	3,123		$	(1,573	)	$	(1,397	)	$	6,507		$	2,374		$	7,863		$	(870	)	$	(1,798	)	$	7,569

Summary of Adjusted EBITDA

The adjustments to our net income (losses) prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) to calculate Adjusted EBITDA are itemized below (in thousands):

	Three Months Ended May 31,
	2020			2019
Net loss	$	(14,422	)	$	(8,693	)
Investment income		(18	)		(2,081	)
Interest expense		4,077			5,456
Income tax provision (benefit)		240			(2,257	)
Depreciation		4,910			3,845
Amortization of intangible assets		1,892			3,040
Stock-based compensation		2,748			2,543
Impairment loss		4,289			—
Impairment loss and equity in net loss of affiliate		—			530
Restructuring charges		1,908			—
Non-recurring legal expenses		793			3,807
Acquisition and integration related expenses		—			1,144
Other		90			235
Adjusted EBITDA	$	6,507		$	7,569

Summary of Revenues by Geographic Area

Revenues by geographic area are as follows (in thousands):

	Three Months Ended
	May 31,
	2020		2019
United States	$	51,550	$	63,122
Europe, Middle East and Africa		15,906		13,426
South America		6,042		5,528
Asia and Pacific Rim		2,339		2,409
All other		4,378		4,585
	$	80,215	$	89,070