v3.26.3
Segment information
 9 Months Ended
Sep. 30, 2026
Segment Reporting [Abstract]  
Segment information

11. Segment information

The Company operates as a single operating and reportable segment, identity and information solutions, as defined under ASC 280, “Segment Reporting.” 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”) is a group consisting of its Chief Executive Officer, President, and Chief Financial Officer. 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 September 30,

 

 

Nine Months Ended September 30,

 

(Dollars in thousands)

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Revenue

 

$

27,751

 

 

$

23,083

 

 

$

80,299

 

 

$

66,860

 

Less:

 

 

 

 

 

 

 

 

 

 

 

 

Cost of revenue (exclusive of depreciation and
  amortization)(1)

 

 

4,018

 

 

 

3,622

 

 

 

11,655

 

 

 

10,784

 

Personnel-related expenses

 

 

8,750

 

 

 

7,829

 

 

 

25,997

 

 

 

23,546

 

Advertising, marketing and agency expenses

 

 

438

 

 

 

280

 

 

 

1,124

 

 

 

791

 

Provision for bad debts

 

 

424

 

 

 

134

 

 

 

791

 

 

 

408

 

Share-based compensation expense

 

 

2,064

 

 

 

1,706

 

 

 

6,321

 

 

 

5,129

 

Occupancy expenses

 

 

285

 

 

 

288

 

 

 

849

 

 

 

859

 

Professional fees(2)

 

 

2,228

 

 

 

1,188

 

 

 

5,180

 

 

 

3,799

 

Other segment items(3)

 

 

942

 

 

 

754

 

 

 

2,644

 

 

 

2,103

 

Depreciation and amortization

 

 

2,837

 

 

 

2,706

 

 

 

8,434

 

 

 

7,903

 

Interest income

 

 

(1,069

)

 

 

(386

)

 

 

(1,807

)

 

 

(1,033

)

Income tax expense

 

 

1,389

 

 

 

749

 

 

 

4,318

 

 

 

2,232

 

Segment net income

 

$

5,445

 

 

$

4,213

 

 

$

14,793

 

 

$

10,339

 

Consolidated net income

 

$

5,445

 

 

$

4,213

 

 

$

14,793

 

 

$

10,339

 

 

(1) Cost of revenue (exclusive of depreciation and amortization) includes certain personnel-related expenses and share-based compensation expense, which are not included in the related line items below.

 

(2) Professional fees included $225 and $533 of acquisition-related costs incurred in connection with due diligence of potential strategic targets for the three and nine months ended September 30, 2026, respectively, compared to $(12) and $358 for the three and nine months ended September 30, 2025, respectively.

 

(3) Other segment items include primarily travel and entertainment, write-off of long-lived assets, and other selling, general and administrative expenses.