v3.26.1
Operating Segment Information
12 Months Ended
Dec. 31, 2025
Operating Segment Information [Abstract]  
OPERATING SEGMENT INFORMATION
4. OPERATING SEGMENT INFORMATION

 

The Company operates an online financial comparison platform across multiple geographic markets, with each market considered an operating and reportable segment. Each segment functions within a distinct regulatory, political, and economic environment, and its financial performance is influenced by local market dynamics and strategic initiatives. The segments are also at different stages of development, with Hong Kong and Singapore being the most mature.

 

Following the cessation of consumer-facing operations in Malaysia and Other Asia in prior years, the Company has four operating and reportable segments in 2025: Hong Kong, Singapore, the Philippines, and Taiwan.

 

Management monitors the results of the Group’s operating segments separately for the purpose of assessing performance and making decisions about resource allocations. Segment performance is evaluated based on reportable segment results which is a measure of operating profit/(loss) before tax.

 

Note: Included in the segment profit (loss) are allocated cost and expenses such as cost of revenue, advertising and market expenses and other segment costs and expenses.

 

   Hong Kong   Singapore   Philippines   Taiwan   Total 
   US$   US$   US$   US$   US$ 
Year ended December 31, 2025                    
Segment revenue                         
Sales to external customers   31,116,926    30,933,640    7,372,109    4,003,706    73,426,381 
                          
Segment profit/(loss) (Note)   1,559,363    (86,764)   (1,662,319)   (109,698)   (299,418)
Reconciliation:                         
Interest income                       581,768 
Finance costs                       (53,853)
Depreciation and amortization                       (1,012,507)
Written off of intangible assets                       (1,193,246)
Equity-settled share-based payment expense                       (1,288,714)
Changes in fair value of financial instruments                       262,829 
Unrealized foreign exchange differences, net                       4,800,870 
Technology costs – other corporate                       (2,811,975)
Investor relations costs – other corporate                       (565,982)
Legal and professional fees – other corporate                       (2,646,323)
Other corporate costs                       (912,019)
Loss before tax                       (5,138,570)
   Hong Kong   Singapore   Philippines   Taiwan   Malaysia   Other Asia   Unallocated   Total 
   US$   US$   US$   US$   US$   US$   US$   US$ 
Year ended December 31, 2024                                
Segment revenue                                        
Sales to external customers   30,443,311    30,890,285    12,843,932    5,136,523    196,695    
-
    
-
    79,510,746 
                                         
Segment loss   (2,585,990)   (6,501,311)   (1,726,411)   (1,331,595)   (552,509)   (88,113)   (11,432,169)   (24,218,098)
Reconciliation:                                        
Interest income                                      1,478,436 
Gain on disposal of
assets in Malaysian operations
                                      600,000 
Finance costs                                      (25,472)
Depreciation and amortization                                      (4,042,969)
Impairment of intangible assets                                      (4,541,074)
Equity-settled share-based payment expense                                      (3,179,214)
Changes in fair value of financial instruments                                      446,811 
Unrealized foreign exchange differences, net                                      (4,196,831)
                                         
Loss before tax                                      (37,678,411)
   Hong Kong   Singapore   Philippines   Taiwan   Malaysia   Other Asia   Unallocated   Total 
    US$    US$    US$    US$    US$    US$    US$    US$ 
Year ended December 31, 2023                                        
Segment revenue                                        
Sales to external customers   26,947,177    32,069,713    14,169,389    6,742,747    738,053    4,002    
-
    80,671,081 
                                         
Segment profit/(loss)   680,500    (1,579,640)   768,659    (826,446)   (485,596)   (105,546)   (5,216,442)   (6,764,511)
Reconciliation:                                        
Interest income                                      872,503 
Finance costs                                      (19,028,007)
Depreciation and amortization                                      (7,164,677)
Impairment of intangible assets                                      (3,105,507)
Equity-settled share-based payment expense                                      (6,629,044)
Other long-term employee benefits expense                                      (109,702)
Changes in fair value of financial instruments                                      (57,333,432)
Share-based payment on listing                                      (67,027,178)
Transaction expenses                                      (6,643,367)
Other equity-settled transactions                                      (500,000)
Unrealized foreign exchange differences, net                                      895,392 
                                         
Loss before tax                                      (172,537,530)

Geographical information

 

Information about the Group’s non-current assets is presented based on the geographical location of the assets and excludes financial instruments.

 

   2025   2024 
   US$   US$ 
         
Hong Kong   298,503    119,515 
Singapore   996,304    1,693,004 
Philippines   382,408    121,049 
Taiwan   36,814    42,735 
Malaysia   17,655    
-
 
           
Total non-current assets   1,731,684    1,976,303 

 

A measure of segment assets and liabilities for each reportable segment is not disclosed as such amounts are not regularly provided to the Chief Operating Decision Maker (“CODM”), comprising the executive directors of the Group.

 

Entity-wide disclosures on revenues information by geographical markets, by vertical, and information about major customers are included in note 5.