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Reportable segments
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Reportable segments

Note 10 - Reportable segments

 

Segments reflect how the Company’s operations are managed, how the Company Chief Executive Officer, who is the chief operating decision maker, allocates resources and evaluates performance, and how the Company’s internal management financial reporting is structured. For the years ended December 31, 2025, and 2024, the Company’s reporting segments are based on its significant countries of operation (Nigeria), aggregate of operating segments representing all other countries of operation (Argentina, Brazil, South Africa, Portugal and Peru), plus its corporate and software development operations in the United Kingdom.

 

The Company develops and manages the global ecommerce platform in the United Kingdom, with its revenue seeking operations in the foreign countries. The Company’s segments reported by country are consistent with its views of regulatory, economic and currency risks for the businesses as well. Statements of operations for the Company’s reporting segments for the years ending December 31, 2025, and 2024 are as follows:

 

 

REDCLOUD HOLDINGS PLC

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

DECEMBER 31, 2025, AND 2024

 

Note 10 - Reportable segments (continued)

 

Year Ended December 31, 2025  Nigeria   South Africa   Argentina   United Kingdom   Other   Total 
Revenue  $38,541,234   $9,734,927   $98,834   $-   $164,358   $48,539,353 
                               
Operating expenses:                              
General and administrative   159,247    253,292    188,871    9,643,155    229,474    10,474,039 
Salaries, benefits, contractor costs   1,390,893    1,628,107    481,044    15,852,967    2,408,688    21,761,699 
Marketing and commissions   38,450,947    10,020,960    87,879    437,458    127,282    49,124,526 
Travel   247,606    2,427    95    737,981    (34)   988,075 
Professional fees   112,082    4,658    448,094    1,892,675    234,311    2,691,820 
Product and technology development   -    8,774    30,255    4,332,454    14,622    4,386,105 
Depreciation and amortization   -    -    -    2,717,640    -    2,717,640 
Total operating expenses   40,360,775    11,918,218    1,236,238    35,614,330    3,014,343    92,143,904 
Net loss from operations   (1,819,541)   (2,183,291)   (1,137,404)   (35,614,330)   (2,849,985)   (43,604,551)
                               
                               
Other expense:                              
Interest expense   -    6,901    34,403    2,154,175    (5,515)   2,189,964 
Loss on Debt Extinguishment   -    -    -    -    -    - 
Loss from change in fair-value of convertible Shareholder loans   -    -    -    -    -    - 
Stock based Compensation   -    -    -    -    -    - 
Other Income   -    -    -    (1,165,544)   -    (1,165,544)
Gain/Loss of investment in subsidiaries   -    -    -    -    -    - 
Foreign currency loss/(gain)   (6,001)   (106,832)   1,978,367    (325,494)   67,838    1,607,878 
Net loss before income taxes  $(1,813,540)  $(2,083,360)  $(3,150,174)  $(36,277,467)  $(2,912,308)  $(46,236,849)
                               
Income tax benefit (expense)   -    -    -    -    -   $- 
Net loss  $(1,813,540)  $(2,083,360)  $(3,150,174)  $(36,277,467)  $(2,912,308)  $(46,236,849)

 

 

REDCLOUD HOLDINGS PLC

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

DECEMBER 31, 2025, AND 2024

 

Note 10 - Reportable segments (continued) 

 

Year Ended December 31, 2024  Nigeria   South Africa   Argentina   United Kingdom   Other   Total 
Revenue  $22,962,513   $4,070,887   $18,820,235   $-   $645,650   $46,499,285 
                               
Operating expenses:                              
General and administrative   24,268    651,136    1,429,648    1,542,840    274,456    3,922,348 
Salaries, benefits, contractor costs   532,300    1,707,079    643,458    13,056,513    3,316,906    19,256,255 
Marketing and commissions   23,471,054    4,698,161    22,948,625    688,850    1,112,259    52,918,949 
Travel   230,141    3,289    16,552    1,673,044    7,573    1,930,599 
Professional fees   84,017    20,802    -    1,907,956    99,272    2,112,047 
Product and technology development   -    9,010    34,108    3,082,969    -    3,126,087 
Depreciation and amortization   -    -    -    1,881,323    -    1,881,323 
Total operating expenses   24,341,780    7,089,477    25,072,391    23,833,495    4,810,466    85,147,608 
Net loss from operations   (1,379,267)   (3,018,590)   (6,252,156)   (23,833,495)   (4,164,816)   (38,648,323)
                               
                               
Other expense:                              
Interest expense   (2)   (775)   15    3,104,140    16,676    3,120,054 
Loss from change in fair-value of convertible Shareholder loans   -    -    -    4,377,051    -    4,377,051 
(Gain) loss from changes in fair value   -    -    -    5,951,087    -    5,951,087 
Foreign currency loss   (75)   1,086    (528,443)   991,016    6,636    470,219 
Net loss before income taxes  $(1,379,190)  $(3,018,901)  $(5,723,728)  $(38,256,789)  $(4,188,128)  $(52,566,734)
                               
Income tax benefit (expense)   -    -    -    (1,851,038)   -    (1,851,038)
Net loss  $(1,379,190)  $(3,018,901)  $(5,723,728)  $(36,405,751)  $(4,188,128)  $(50,715,696)

 

 

REDCLOUD HOLDINGS PLC

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

DECEMBER 31, 2025, AND 2024

 

Note 10 - Reportable segments (continued)

 

The majority of the Company’s revenue for the years ended December 31, 2025, and 2024 relates to sales activity on its ecommerce platform. In 2025 and 2024, the Company did not have sales to a single customer exceeding 10% of its consolidated revenue.

 

The Company has a significant portion of its operations and net assets outside its home country of the United Kingdom. See the table below for the geographic concentration of the Company’s assets for the years ended December 31, 2025, and 2024.

 

   2025   2024 
United Kingdom          
Cash and cash equivalents  $361,678   $648,453 
Accounts receivables and other receivables, net   201,715    - 
Income taxes receivable   257,040    1,607,754 
Other current assets   1,124,836    2,697,852 
Property and equipment, net   444,967    593,358 
Intangible assets, net   6,730,155    6,168,534 
Investment on Joint Venture   134,476    - 
Total United Kingdom  $9,254,867   $11,715,951 
Nigeria          
Cash and cash equivalents  $60,264   $33,458 
Accounts receivables and other receivables, net   2,539,143    2,052,086 
Other current assets   607,935    35,125 
Total Nigeria  $3,207,342   $2,120,669 
Argentina          
Cash and cash equivalents  $35,878   $49,740 
Accounts receivables and other receivables, net   18,584    2,975,215 
Other current assets   73,887    6,818 
Total Argentina  $128,349   $3,031,773 
South Africa          
Cash and cash equivalents  $15,401   $109 
Accounts receivables and other receivables, net   11,500    500,114 
Other current assets   6,903    2,915 
Total South Africa  $33,804   $503,138 
Other          
Cash and cash equivalents  $5,761   $100,911 
Accounts receivables and other receivables, net   501    1,411 
Income taxes receivable   264    50,075 
Other current assets   23,144    36,115 
Total Other  $29,670   $188,512 
Total Assets  $12,654,032   $17,560,043 

 

 

REDCLOUD HOLDINGS PLC

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

DECEMBER 31, 2025, AND 2024