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Segments | 3 Months Ended
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Mar. 31, 2025
Segment Reporting [Abstract] |
Segments | 13. Segments The Company organizes its business structure around two operating segments based on review of discrete financial results for each of the operating segments by the Company’s chief operating decision maker (“CODM”), for performance assessment and resource allocation purposes. Each of the Company’s operating segments represents a reportable segment based on ASC 280, Segment Reporting. The Company’s two reportable segments are as follows: (1) Consumer Payments and (2) Business Payments. The Company’s CODM is the Chief Executive Officer. For both segments, the CODM uses the segment gross profit to allocate resources (including employees, property, and financial or capital resources) and assess performance of each segment predominantly in the annual budget and forecasting process. The CODM considers budget-to-actual variances on a monthly basis for the gross profit measure when making decisions about allocating capital and personnel to the segments. Consumer Payments The Consumer Payments segment provides payment processing solutions (including debit and credit card processing, ACH processing and other electronic payment acceptance solutions, as well as our loan disbursement product) that enable the Company’s clients to collect payments and disburse funds to consumers and includes the Company’s clearing and settlement solutions (“RCS”) offering. RCS is the Company’s proprietary clearing and settlement platform through which the Company markets customizable payment processing programs to other Independent Sales Organizations (“ISOs”) and payment facilitators. The strategic vertical markets served by the Consumer Payments segment primarily include personal loans, automotive loans, receivables management, credit unions, mortgage servicing, consumer healthcare and diversified retail. The Consumer Payments segment represented approximately 86% a nd 88% of the Company’s total revenue after any intersegment eliminations for the three months ended March 31, 2025 and 2024, respectively. Business Payments The Business Payments segment provides payment processing solutions (including accounts payable automation, debit and credit card processing, virtual credit card processing, ACH processing and other electronic payment acceptance solutions) that enable the Company’s clients to collect or send payments to other businesses. The strategic vertical markets served within the Business Payments segment primarily include retail automotive, education, field services, governments and municipalities, healthcare, media, HOA management and hospitality. The Business Payments segment represented approximately 14% and 12% of t he Company’s total revenue after any intersegment eliminations for the three months ended March 31, 2025 and 2024, respectively. The following table presents revenue, cost of services and gross profit for each reportable segment.
|  | Three Months Ended March 31, |
($ in thousands) |  | 2025 |  |  | 2024 |
Revenue |  |  |  |  |  |
Consumer Payments |  | $ | 71,942 |  |  | $ | 76,136 |
Business Payments |  |  | 10,988 |  |  |  | 9,677 |
Elimination of intersegment revenues (1) |  |  | (5,605 | ) |  |  | (5,093 | )
Total revenue |  | $ | 77,325 |  |  | $ | 80,720 |
Cost of services (exclusive of depreciation and amortization) |  |  |  |  |  |
Consumer Payments |  | $ | 15,233 |  |  | $ | 16,545 |
Business Payments |  |  | 3,431 |  |  |  | 2,630 |
Total cost of services (exclusive of depreciation and amortization) |  | $ | 18,664 |  |  | $ | 19,175 |
Gross profit (2) |  |  |  |  |  |
Consumer Payments |  | $ | 56,709 |  |  | $ | 59,591 |
Business Payments |  |  | 7,557 |  |  |  | 7,047 |
Elimination of intersegment revenues |  |  | (5,605 | ) |  |  | (5,093 | )
Total gross profit |  | $ | 58,661 |  |  | $ | 61,545 |
Total other operating expenses (3) |  | $ | 62,281 |  |  | $ | 64,049 |
Total other income (expense) |  |  | (5,000 | ) |  |  | (2,559 | )
Loss before income tax (expense) benefit |  |  | (8,620 | ) |  |  | (5,063 | )
Income tax benefit (expense) |  |  | 452 |  |  |  | (302 | )
Net loss |  | $ | (8,168 | ) |  | $ | (5,365 | )
(1) Represents revenue eliminations between business units within the Consumer Payments segment and eliminations of intersegment revenues for consolidation purpose. (2) Represents revenue less costs of services (exclusive of depreciation and amortization). (3) Represents total operating expenses less costs of services (exclusive of depreciation and amortization). Revenue and costs of services are attributed directly to each segment. There is no significant concentration of revenue or assets in foreign countries as of March 31, 2025. The CODM reporting package does not include interest income (expense), net, depreciation and amortization, income tax benefit (expense) and discrete asset details of the operating segments as this information is not considered by the CODM for resource allocation or other segment analysis purposes.

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- Definition 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. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards 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