| 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 and
six months ended June 30, 2025 and 2024:
Schedule
of Operating Segment
Three
months ended June 30, 2025 and 2024
| |
|
2025 |
|
|
2024 |
|
|
Change |
|
|
% |
|
| |
|
Three Months Ended |
|
|
|
|
|
|
|
| |
|
June 30, |
|
|
|
|
|
|
|
| |
|
2025 |
|
|
2024 |
|
|
Change |
|
|
% |
|
| Revenue |
|
$ |
1,261,023 |
|
|
$ |
927,570 |
|
|
$ |
333,453 |
|
|
|
36 |
% |
| Cost of revenue |
|
|
2,288,165 |
|
|
|
1,768,671 |
|
|
|
519,494 |
|
|
|
29 |
% |
| Gross Profit (Loss) |
|
|
(1,027,142 |
) |
|
|
(841,101 |
) |
|
|
(186,041 |
) |
|
|
22 |
% |
| Gross Profit (Loss) Percentage |
|
|
(81 |
)% |
|
|
(91 |
)% |
|
|
9 |
% |
|
|
(10 |
)% |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Operating expense |
|
|
4,263,269 |
|
|
|
3,056,814 |
|
|
|
1,206,455 |
|
|
|
39 |
% |
| Other income (expense) |
|
|
(334,659 |
) |
|
|
(238,169 |
) |
|
|
(96,490 |
) |
|
|
n/a |
|
| Net loss |
|
$ |
(5,625,070 |
) |
|
$ |
(4,136,084 |
) |
|
$ |
(1,488,986 |
) |
|
|
36 |
% |
| |
|
2025 |
|
|
2024 |
|
|
Change |
|
|
% |
|
| |
|
Three Months Ended |
|
|
|
|
|
|
|
| |
|
June 30, |
|
|
|
|
|
|
|
| |
|
2025 |
|
|
2024 |
|
|
Change |
|
|
% |
|
| Operating expenses |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Payroll expenses |
|
$ |
2,499,153 |
|
|
$ |
1,605,026 |
|
|
$ |
894,127 |
|
|
|
56 |
% |
| Sales and marketing expenses |
|
|
59,463 |
|
|
|
70,493 |
|
|
|
(11,030 |
) |
|
|
(16 |
)% |
| Lease expense |
|
|
103,345 |
|
|
|
98,007 |
|
|
|
5,338 |
|
|
|
5 |
% |
| Professional fees |
|
|
166,689 |
|
|
|
205,799 |
|
|
|
(39,110 |
) |
|
|
(19 |
)% |
| General and administrative expense |
|
|
1,434,619 |
|
|
|
1,077,489 |
|
|
|
357,130 |
|
|
|
33 |
% |
| Total |
|
$ |
4,263,269 |
|
|
$ |
3,056,814 |
|
|
$ |
1,206,455 |
|
|
|
39 |
% |
Six
months ended June 30, 2025 and 2024
| |
|
2025 |
|
|
2024 |
|
|
Change |
|
|
% |
|
| |
|
Six Months Ended |
|
|
|
|
|
|
|
| |
|
June 30, |
|
|
|
|
|
|
|
| |
|
2025 |
|
|
2024 |
|
|
Change |
|
|
% |
|
| Revenue |
|
$ |
1,499,517 |
|
|
$ |
1,977,725 |
|
|
$ |
(478,208 |
) |
|
|
(24 |
)% |
| Cost of revenue |
|
|
4,155,137 |
|
|
|
2,734,762 |
|
|
|
1,420,375 |
|
|
|
52 |
% |
| Gross Profit (Loss) |
|
|
(2,655,620 |
) |
|
|
(757,037 |
) |
|
|
(1,898,583 |
) |
|
|
251 |
% |
| Gross Profit Percentage |
|
|
(177 |
)% |
|
|
(38 |
)% |
|
|
(139 |
)% |
|
|
363 |
% |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Operating expense |
|
|
8,707,711 |
|
|
|
6,702,397 |
|
|
|
2,005,314 |
|
|
|
30 |
% |
| Other expense |
|
|
(676,366 |
) |
|
|
(487,150 |
) |
|
|
(189,216 |
) |
|
|
39 |
% |
| Net loss |
|
$ |
(12,039,697 |
) |
|
$ |
(7,946,584 |
) |
|
$ |
(4,093,113 |
) |
|
|
52 |
% |
| |
|
2025 |
|
|
2024 |
|
|
Change |
|
|
% |
|
| |
|
Six Months Ended |
|
|
|
|
|
|
|
| |
|
June 30, |
|
|
|
|
|
|
|
| |
|
2025 |
|
|
2024 |
|
|
Change |
|
|
% |
|
| Operating expenses |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Payroll expenses |
|
$ |
5,007,953 |
|
|
$ |
3,110,324 |
|
|
$ |
1,897,629 |
|
|
|
61 |
% |
| Sales and marketing expenses |
|
|
113,551 |
|
|
|
105,911 |
|
|
|
7,640 |
|
|
|
7 |
% |
| Lease expense |
|
|
204,787 |
|
|
|
190,211 |
|
|
|
14,576 |
|
|
|
8 |
% |
| Professional fees |
|
|
375,164 |
|
|
|
653,876 |
|
|
|
(278,712 |
) |
|
|
(43 |
)% |
| General and administrative expense |
|
|
3,006,256 |
|
|
|
2,642,075 |
|
|
|
364,181 |
|
|
|
14 |
% |
| Total |
|
$ |
8,707,711 |
|
|
$ |
6,702,397 |
|
|
$ |
2,005,314 |
|
|
|
30 |
% |
| Operating expenses |
|
$ |
8,707,711 |
|
|
$ |
6,702,397 |
|
|
$ |
2,005,314 |
|
|
|
30 |
% |
|