v3.25.1
Segment Reporting
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Segment Reporting Disclosure [Text Block]

15. Segment Reporting

 

The Company reports its segments to reflect the manner in which its CODM reviews and assesses performance. The Company’s CODM is its CEO. The primary financial measures used by the CODM to evaluate the performance of its segments and allocate resources to them are revenue and gross profit.

 

The Company has two reportable segments: North America and International. The CODM uses segment revenue and gross profit for each segment during the annual budgeting and forecasting process. Further, the CODM uses segment revenue and gross profit as the metrics to assess the business trajectory of each segment on a quarterly basis, and to make investment decisions and allocate operating resources to each segment. The CODM does not evaluate performance or allocate resources based on segment asset data. Assets are reviewed on a consolidated basis. As such, segment asset data is not provided.

 

The following tables present revenue and gross profit information for each of our reportable segments (dollars in thousands):

 

   Year Ended December 31, 2024 
   North America   International   Total 
Revenue  $18,159   $37,839   $55,998 
Cost of revenue   10,766    22,806    33,572 
Segment gross profit  $7,393   $15,033   $22,426 
                
Depreciation and amortization  $2,011   $253   $2,264 

 

   Year Ended December 31, 2023 
   North America   International   Total 
Revenue  $48,938   $16,931   $65,869 
Cost of revenue   29,742    10,415    40,157 
Segment gross profit  $19,196   $6,516   $25,712 
                
Depreciation and amortization  $1,907   $646   $2,553 

 

The following table provides a reconciliation of total segment gross profit to the Company’s loss before provision for income taxes (in thousands):

 

   Year Ended December 31, 
   2024   2023 
Total segment gross profit  $22,426   $25,712 
Less: Advertising and marketing   95    80 
Less: Research and development   3,848    5,757 
Less: General and administrative   6,933    8,678 
Less: Payroll and payroll taxes   13,837    12,017 
Less: Professional fees   4,372    7,076 
Less: Stock compensation expense   624    1,853 
Less: Depreciation and amortization   2,264    2,553 
Less: Impairment of goodwill   6,675    - 
Less: Impairment of intangible assets   3,028    - 
Less: Restructuring charges   1,636    - 
Less: Other expense, net   (4,800)   (40,510)
Loss before provision for income taxes  $(25,686)  $(52,812)