Acquisitions (Tables)
3 Months Ended
May 31, 2021
Acquisitions  
Schedule of purchase consideration

Consideration Paid

    

  

Cash consideration, net of cash acquired

$

228,013

Fair value of common stock issued

 

116,187

Fair value of replacement awards

1,520

Fair value of contingent consideration

 

76,248

Total consideration paid

$

421,968

Schedule of estimated fair values of the assets acquired and liabilities assumed

Assets acquired:

    

  

Accounts receivable

$

5,550

Unbilled revenue

226

Current portion of deferred contract acquisition costs

176

Prepaid and other current assets

 

1,052

Property and equipment

4,344

Deferred contract acquisition costs

564

Goodwill

 

210,164

Intangible assets(1)

 

Customer relationships

120,000

Technology

58,000

Supplier-based network

25,000

Trade name

3,400

Non-compete agreement

3,100

Total assets acquired

$

431,576

 

  

Liabilities assumed:

 

  

Accounts payable

$

1,195

Accrued expenses

585

Accrued compensation

3,817

Deferred rent and other current liabilities

 

904

Due to customers

294

Current portion of deferred revenue

625

Deferred rent and other noncurrent liabilities

2,188

Total liabilities assumed

$

9,608

 

  

Net assets acquired

$

421,968

(1)The weighted-average useful life of intangible assets acquired is approximately 14 years.
Schedule of proforma results

Unaudited Pro Forma

Three months ended May 31, 

    

2021

    

2020

Revenue

$

59,791

$

44,463

Net loss

$

(48,990)

$

(25,641)