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Segment reporting and concentrations

3 Months Ended

Mar. 31, 2024

Segment reporting and concentrations

Segment reporting and concentrations

11.Segment reporting and concentrations

The Company’s operations are classified in three reporting segments: Digital Data Solutions (DDS), Synodex and Agility.

The DDS segment provides AI data preparation services, collecting or creating training data, annotating training data, and training AI algorithms for its customers, and AI model deployment and integration. The DDS segment also provides a range of data engineering support services including data transformation, data curation, data hygiene, data consolidation, data extraction, data compliance, and master data management.

The Synodex segment provides an industry platform that transforms medical records into useable digital data organized in accordance with its proprietary data models or customer data models.

The Agility segment provides an industry platform that provides marketing communications and public relations professionals with the ability to target and distribute content to journalists and social media influencers world-wide and to monitor and analyze global news channels (print, web, radio and TV) and social media channels.

A significant portion of the Company’s revenues is generated from its locations in the Philippines, India, Sri Lanka, Canada, Germany, Israel, United States and the United Kingdom.

Revenues from external customers, segment operating profit (loss), and other reportable segment information are as follows (in thousands):

​

​	​	​	​	​	​	​
​	​	For the Three Months Ended March 31,
​		2024			2023
Revenues:		​			​
DDS	​	$	19,705	​	$	12,746
Synodex	​		1,871	​		1,865
Agility	​		4,928	​		4,228
Total Consolidated	​	$	26,504	​	$	18,839
​	​		​	​		​
Income (loss) before provision for income taxes(1):	​		​	​		​
DDS	​	$	998	​	$	(281)
Synodex	​		150	​		(111)
Agility	​		266	​		(1,503)
Total Consolidated	​	$	1,414	​	$	(1,895)
​	​		​	​		​
Income (loss) before provision for income taxes(2):	​		​	​		​
DDS	​	$	848	​	$	(423)
Synodex	​		276	​		14
Agility	​		290	​		(1,486)
Total Consolidated	​	$	1,414	​	$	(1,895)

​

​	​	​	​	​	​	​
​		March 31, 2024			December 31, 2023
Total assets:		​			​
DDS	​	$	40,329	​	$	37,232
Synodex	​		3,612	​		3,379
Agility	​		19,631	​		18,820
Total Consolidated	​	$	63,572	​	$	59,431

​

​	​	​	​	​	​	​
​		March 31, 2024			December 31, 2023
Goodwill:		​			​
Agility	​	$	2,056	​	$	2,075
Total	​	$	2,056	​	$	2,075

​

(1) Before elimination of any inter-segment profits

(2) After elimination of any inter-segment profits

Revenues for the three-month periods ended March 31, 2024, and 2023 by geographic region (determined based upon customer’s domicile), were as follows (in thousands):

​

​	​	​	​	​	​	​
​	​	For the Three Months Ended
​	​	March 31,
​		2024			2023
United States	​	$	17,872	​	$	11,409
United Kingdom	​		2,249	​		2,555
The Netherlands	​		2,039	​		1,723
Canada	​		2,226	​		1,438
Others - principally other European countries	​		2,118	​		1,714
Totals	​	$	26,504	​	$	18,839

​

Long-lived assets as of March 31, 2024 and December 31, 2023 by geographic region were comprised of (in thousands):

​

​	​	​	​	​	​	​
​		March 31,			December 31,
​		2024			2023
United States	​	$	9,384	​	$	9,101
​	​		​	​		​
Foreign countries:	​		​	​		​
Canada	​		7,030	​		7,328
United Kingdom	​		975	​		1,028
Philippines	​		3,411	​		3,484
India	​		1,628	​		1,791
Sri Lanka	​		394	​		423
Israel	​		11	​		13
Total foreign	​		13,449	​		14,067
Totals	​	$	22,833	​	$	23,168

​

Long-lived assets include the unamortized balance of right-of-use assets amounting to $4.8 million and $5.1 million as of March 31, 2024 and December 31, 2023, respectively.

One customer in the DDS segment generated approximately 24% of the Company’s total revenues for the three months ended March 31, 2024. Two customers in the DDS segment each generated approximately 11% of the Company’s total revenues for the three months ended March 31, 2023. No other customer accounted for 10% or more of total revenues during these periods. Further, for the three months ended March 31, 2024 and 2023, revenues from non-U.S. customers accounted for 33% and 39% respectively, of the Company’s total revenues.

As of March 31, 2024, approximately 27% of the Company’s accounts receivable was due from foreign (principally European) customers and 35% of the Company’s accounts receivable was due from two customers. As of December 31, 2023, approximately 31% of the Company’s accounts receivable was due from foreign (principally European) customers and 53% of the Company’s accounts receivable was due from three customers. No other customer accounted for 10% or more of the accounts receivable as of March 31, 2024 and December 31, 2023.

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The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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