v3.25.1
Segment information
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Segment Reporting

10. Segment information

The Company currently has one single operating and reporting segment, identity and information solutions, as defined by ASC 280, “Segment Reporting.” The Company adopted ASU 2023-07 as of December 31, 2024. There have been no significant changes in the basis of segmentation or in the basis of measurement of segment profit since the last annual report.

The Company’s chief operating decision maker (the “CODM”) assesses performance for the identity and information solutions segment and decides how to allocate resources based on net income that also is reported on the condensed consolidated statements of operations as net income. The measure of segment assets is reported on the condensed consolidated balance sheet as total assets.

Information about reported segment revenue, segment net income, and significant segment expenses is shown as follows:

 

 

 

Three Months Ended March 31,

 

(Dollars in thousands)

 

2025

 

 

2024

 

Revenue

 

$

22,003

 

 

$

17,511

 

Less:

 

 

 

 

 

 

Cost of revenue (exclusive of depreciation and amortization)

 

 

3,661

 

 

 

3,756

 

Personnel-related expenses

 

 

7,693

 

 

 

5,789

 

Advertising, marketing and agency expenses

 

 

224

 

 

 

159

 

Provision for bad debts

 

 

62

 

 

 

70

 

Share-based compensation expense

 

 

1,596

 

 

 

1,402

 

Occupancy expenses

 

 

306

 

 

 

306

 

Professional fees

 

 

1,051

 

 

 

1,198

 

Other segment items(1)

 

 

649

 

 

 

578

 

Depreciation and amortization

 

 

2,550

 

 

 

2,270

 

Interest income

 

 

(308

)

 

 

(365

)

Income tax expense

 

 

1,079

 

 

 

564

 

Segment net income

 

$

3,440

 

 

$

1,784

 

Consolidated net income

 

$

3,440

 

 

$

1,784

 

 

(1) Other segment items included in segment net income includes primarily travel and entertainments, acquisition costs, write-off of long-lived assets, and other selling, general and administrative expenses.