Quarterly report [Sections 13 or 15(d)]

Segment

v3.25.1
Segment
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Segment

Note 15. Segment

 

The Company operates as one operating segment. The Company’s chief operating decision maker (“CODM”) is its chief executive officer, who reviews financial information presented on a consolidated basis. The CODM uses consolidated operating margin and net income to assess financial performance and allocate resources. These financial metrics are used by the CODM to make key operating decisions, such as the determination of the rate at which the Company seeks to grow global operating margin and the allocation of budget between cost of revenues, sales and marketing, technology and development, and general and administrative expenses.

 

 

The following table presents selected financial information with respect to the Company’s single operating segment for the three months ended March 31, 2025 and 2024:

 

    2025     2024     Change     %  
    Three Months Ended              
    March 31,              
    2025     2024     Change     %  
Revenue   $ 238,494     $ 1,050,155     $ (811,661 )     (77 )%
Cost of revenue     1,866,972       966,091       900,881       93 %
Gross Profit (Loss)     (1,628,478 )     84,064       (1,712,542 )     (2037 )%
Gross Profit Percentage     (683 )%     8 %        
                                 
Operating expense     4,444,442       3,645,583       798,859       22 %
Other expense     (341,707 )     (248,981 )     (92,726 )     37 %
Net loss   $ (6,414,627 )   $ (3,810,500 )   $ (2,604,127 )     68 %

 

    2025     2024     Change     %  
    Three Months Ended              
    March 31,              
    2025     2024     Change     %  
Selling, General & Administrative expenses                                
Payroll expenses   $ 2,508,800     $ 1,505,298     $ 1,003,502       67 %
Sales and marketing expenses     54,088       35,418       18,670       53 %
Lease expense     101,442       92,204       9,238       10 %
Professional fees     208,475       448,077       (239,602 )     (53 )%
General and administrative expense     1,571,637       1,564,586       7,051       0 %
Total   $ 4,444,442     $ 3,645,583     $ 798,859       22 %