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SEGMENT REPORTING (Tables) | 12 Months Ended
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Dec. 31, 2023
SEGMENT REPORTING [Abstract] |
Information about Segments | Information about segments for the years ended December 31, 2021, 2022 and 2023 presented were as follows:
|  | Year ended December 31, 2021 |
|  | E-Commerce $ |  |  | Digital Financial Services $ |  |  | Digital Entertainment $ |  |  | Other Services $ |  |  | Unallocated expenses(1) $ |  |  | Consolidated $ |
Revenue |  |  | 5,122,959 |  |  |  | 469,774 |  |  |  | 4,320,013 |  |  |  | 42,444 |  |  |  | – |  |  |  | 9,955,190 |
Operating (loss) income |  |  | (2,766,566 | ) |  |  | (640,422 | ) |  |  | 2,500,081 |  |  |  | (177,633 | ) |  |  | (498,520 | ) |  |  | (1,583,060 | )
Non-operating loss, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (132,124 | )
Income tax expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (332,865 | )
Share of results of equity investees |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 5,019 |
Net loss |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (2,043,030 | )
|  | Year ended December 31, 2022 |
|  | E-Commerce $ |  |  | Digital Financial Services $ |  |  | Digital Entertainment $ |  |  | Other Services $ |  |  | Unallocated expenses(1) $ |  |  | Consolidated $ |
Revenue |  |  | 7,288,677 |  |  |  | 1,221,996 |  |  |  | 3,877,163 |  |  |  | 61,869 |  |  |  | – |  |  |  | 12,449,705 |
Operating (loss) income |  |  | (2,013,360 | ) |  |  | (277,264 | ) |  |  | 1,971,416 |  |  |  | (252,162 | ) |  |  | (916,138 | ) |  |  | (1,487,508 | )
Non-operating loss, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (13,025 | )
Income tax expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (168,395 | )
Share of results of equity investees |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 11,156 |
Net loss |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (1,657,772 | )
|  | Year ended December 31, 2023 |
|  | E-Commerce $ |  |  | Digital Financial Services $ |  |  | Digital Entertainment $ |  |  | Other Services $ |  |  | Unallocated expenses(1) $ |  |  | Consolidated $ |
Revenue |  |  | 9,000,848 |  |  |  | 1,759,422 |  |  |  | 2,172,009 |  |  |  | 131,281 |  |  |  | – |  |  |  | 13,063,560 |
Operating (loss) income |  |  | (550,470 | ) |  |  | 490,209 |  |  |  | 1,177,871 |  |  |  | (56,728 | ) |  |  | (836,104 | ) |  |  | 224,778 |
Non-operating income, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 207,616 |
Income tax expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (262,680 | )
Share of results of equity investees |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (7,032 | )
Net income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 162,682 |
| (1) | Unallocated expenses are mainly relating to share-based compensation, impairment of goodwill of prior acquisitions that are not under the Company’s reportable segments, and general and corporate administrative costs such as professional fees and other miscellaneous items that are not allocated to segments. These expenses are excluded from segments results as they are not reviewed by the CODM as part of segment performance.
Revenue from External Customers Based on Geographical Locations | Revenue from external customers is classified based on the geographical locations where the services were provided.
|  | Year ended December 31, |
|  | 2021 $ |  |  | 2022 $ |  |  | 2023 $ |
Revenue |  |  |  |  |  |  |  |  |
Southeast Asia |  |  | 6,316,782 |  |  |  | 8,321,249 |  |  |  | 9,179,527 |
Latin America |  |  | 1,850,861 |  |  |  | 2,043,918 |  |  |  | 2,193,758 |
Rest of Asia |  |  | 1,394,342 |  |  |  | 1,727,187 |  |  |  | 1,496,433 |
Rest of the world |  |  | 393,205 |  |  |  | 357,351 |  |  |  | 193,842 |
Consolidated revenue |  |  | 9,955,190 |  |  |  | 12,449,705 |  |  |  | 13,063,560 |
Long-Lived Assets | Long-lived assets consist of property and equipment, operating lease ROU assets and intangible assets.
|  | As of December 31, |
|  | 2022 $ |  |  | 2023 $ |
Long-lived assets |  |  |  |  |  |
Southeast Asia |  |  | 1,804,846 |  |  |  | 1,699,461 |
Rest of Asia |  |  | 348,116 |  |  |  | 258,078 |
Rest of the world |  |  | 257,792 |  |  |  | 316,962 |
|  |  | 2,410,754 |  |  |  | 2,274,501 |

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- Definition Tabular disclosure of long-lived assets, excluding financial instruments, long-term customer relationships of a financial institution, mortgage rights, deferred policy acquisition costs, and deferred tax assets, by geographic areas located in the entity's country of domicile and foreign countries in which the entity holds assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Subparagraph b -SubTopic 10 -Topic 280 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 + Details
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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-25 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30 + Details
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