v3.26.3
Segment Reporting
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segment Reporting
14.Segment Reporting

 

The Company reports its segments to reflect the manner in which its CODM reviews and assesses performance. The Company’s CODM is its CEO. The primary financial measures used by the CODM to evaluate the performance of its segments and allocate resources to them are revenue and gross profit.

 

The Company has two reportable segments: Platform Operations and Fintech Operations. The CODM uses segment revenue and gross profit for each segment during the annual budgeting and forecasting process. Further, the CODM uses segment revenue and gross profit as the metrics to assess the business trajectory of each segment on a periodic basis, and to make investment decisions and allocate operating resources to each segment. The CODM does not evaluate performance or allocate resources based on segment asset information, as assets are reviewed on a consolidated basis. As such, segment asset data is not provided.

 

The following tables present revenue and gross profit information for each of our reportable segments (in thousands):

 

   Three Months Ended
June 30, 2026		   Six Months Ended
June 30, 2026		 
   Platform Operations   Fintech Operations   Total   Platform Operations   Fintech Operations   Total 
Revenue  $630   $1,698   $2,328   $1,183   $1,698   $2,881 
Cost of revenue   433    1,024    1,457    804    1,023    1,827 
Segment gross profit   197    674    871    379    675    1,054 
                               
Depreciation and amortization  $113   $17   $130   $251   $17   $268 
  

Three Months Ended
June 30, 2025

  

Six Months Ended
June 30, 2025

 
   Platform Operations   Fintech Operations   Total   Platform Operations   Fintech Operations   Total 
Revenue  $517   $      -   $517   $962   $       -   $962 
Cost of revenue   229    -    229    551    -    551 
Segment gross profit   288    -    288    411    -    411 
                               
Depreciation and amortization  $54   $-   $54   $111   $-   $111 

 

The following table provides a reconciliation of total segment gross profit to the Company’s loss before provision for income taxes (in thousands):

 

  

Three Months Ended

June 30,

  

Six Months Ended

June 30,

 
   2026   2025   2026   2025 
Total segment gross profit  $871   $288   $1,054   $411 
Less: Research and development   (262)   (117)   (447)   (220)
Less: Selling and Marketing   (2,015)   (319)   (3,452)   (504)
Less: General and administrative   (7,525)   (475)   (9,747)   (870)
Less: Other (expense), net   (639)   505    (1,758)   474 
Loss from operations before income taxes  $(9,570)  $(118)  $(14,350)  $(709)