DISCONTINUED OPERATIONS (Tables)

12 Months Ended

Feb. 28, 2022

Discontinued Operations And Disposal Groups [Abstract]

Summary of Financial Results of Discontinued Operations

The below table presents the amounts by balance sheet classification related to our discontinued operations (in thousands):

	As of February 28,
	2021
Carrying amounts of the major classes of assets included in discontinued operations:
Accounts receivable, net	$	5,050
Inventories		1,721
Prepaid expenses and other current assets		1,101
Total assets	$	7,872
Carrying amounts of the major classes of liabilities included in discontinued operations:
Accounts payable	$	1,956
Deferred revenue		1,849
Other current liabilities		291
Current liabilities of discontinued operations		4,096
Other non-current liabilities		1,773
Total liabilities	$	5,869

The amounts in the statement of operations that are included in discontinued operations are summarized in the following table (in thousands):

	Year Ended February 28/29
	2022			2021			2020
Revenues	$	823		$	32,692		$	44,334
Cost of revenues		950			21,133			26,524
Gross profit		(127	)		11,559			17,810
Operating expenses:
Research and development		32			1,441			2,443
Selling and marketing		167			9,988			13,155
General and administrative		75			7,041			8,190
Intangible asset amortization		141			2,199			6,450
Restructuring		404			2,220			1,935
Impairment losses		-			23,822			13,389
Total operating expenses		819			46,711			45,562
Operating loss from discontinued operations		(946	)		(35,152	)		(27,752	)
Gain on sale of discontinued operations		4,103			-			-
Net income (loss) from discontinued operations, net of tax	$	3,157		$	(35,152	)	$	(27,752	)

The amounts in the statement of cash flow that are included in discontinued operations are summarized in the following table (in thousands):

	Year Ended February 28/29
	2022			2021			2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss) from discontinued operations, net of tax	$	3,157		$	(35,152	)	$	(27,752	)
Adjustments to reconcile net income (loss) from discontinued operations to net cash provided by (used in) operating activities:
Depreciation		-			2,260			2,225
Intangible asset amortization		141			2,199			6,450
Stock-based compensation		25			1,516			1,754
Impairment losses		-			23,822			14,599
Gain on sale of discontinued operations		(4,103	)		-			-
Noncash operating lease cost		-			4,901			3,360
Changes in operating assets and liabilities:
Accounts receivable		452			2,584			2,053
Inventories		425			2,585			2,456
Prepaid expenses and other current assets		4			(123	)		2,376
Accounts payable		(331	)		(1,859	)		1,158
Accrued liabilities		(135	)		(1,363	)		(627	)
Deferred revenue		(30	)		(428	)		(70	)
Operating lease liabilities		-			(5,354	)		(3,275	)
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES FROM DISCONTINUED OPERATIONS		(395	)		(4,412	)		4,707
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures		-			(2,338	)		(891	)
Net proceeds from sale of discontinued operations		5,721			-			-
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES FROM DISCONTINUED OPERATIONS		5,721			(2,338	)		(891	)
Net change in cash and cash equivalents		5,326			(6,750	)		3,816