v3.25.4
Segment and Geographical Information
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Segment and Geographical Information Segment and Geographical Information
The Company's CODM is its Chief Executive Officer. The CODM has determined that the Company operates in one single operating and reportable segment and manages segment performance and resource allocation based upon consolidated net income (loss). The CODM uses consolidated net income (loss) in deciding whether to reinvest profits into opportunities for the business, invest in business combinations or equity investments or return a portion of such profits to shareholders. The measure of segment assets is reported on the consolidated balance sheets as total consolidated assets. Significant expenses reviewed by the CODM include those that are presented in the consolidated statements of operations and comprehensive income.
The following table presents total external revenues by geographic location, based on the location of the Company’s merchants:
Years ended
 December 31, 2025December 31, 2024December 31, 2023
(in US $ millions, except percentages)
North America
United States7,331 63 %5,708 64 %4,649 66 %
Canada567 5 %483 6 %388 5 %
EMEA2,426 21 %1,707 19 %1,255 18 %
APAC1,128 10 %885 10 %699 10 %
Latin America104 1 %97 1 %69 1 %
Total Revenue11,556 100 %8,880 100 %7,060 100 %