Segment Information

12 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

Segment Information

Note 15 – Segment Information

We operate in three reportable segments: Creatd Labs, Creatd Ventures, and Creatd Partners. Our segments were determined based on the economic characteristics of our products and services, our internal organizational structure, the manner in which our operations are managed and the criteria used by our Chief Operating Decision Maker (CODM) to evaluate performance, which is generally the segment’s operating losses.

Operations of:	Products and services provided:
Creatd Labs	Creatd Labs is the segment focused on development initiatives. Creatd Labs houses the Company’s proprietary technology, including its flagship platform, Vocal, as well as oversees the Company’s content creation framework, and management of its  digital communities. Creatd Labs derives revenues from Vocal creator subscriptions, platform processing fees and technology licensing fees.
Creatd Ventures	Creatd Ventures builds, develops, and scales e-commerce brands. This segment generates revenues through product sales of its two majority-owned direct-to-consumer brands, Camp and Dune Glow Remedy.
Creatd Partners	Creatd Partners fosters relationships between brands and creators through its suite of agency services, including content marketing (Vocal for Brands), performance marketing (Seller’s Choice), and influencer marketing (WHE Agency). Creatd Partners derives revenues in the form of brand fees and talent management commissions.

The following tables present certain financial information related to our reportable segments and Corporate:

	As of December 31, 2021
	Creatd Labs		Creatd Ventures		Creatd Partners		Corporate		Total
Accounts receivable, net	$	-	$	2,884	$	334,556	$	-	$	337,440
Prepaid expenses and other current assets		48,495		-		-		188,170		236,665
Deposits and other assets		626,529		-		-		92,422		718,951
Intangible assets		-		1,637,924		783,676		11,241		2,432,841
Goodwill		-		25,139		1,349,696		-		1,374,835
Inventory		-		106,403		-		-		106,403
All other assets		-		-		-		3,966,124		3,966,124
Total Assets	$	675,024	$	1,772,350	$	2,467,928	$	4,257,957	$	9,173,259
Accounts payable and accrued liabilities	$	9,693	$	766,253	$	6,232	$	2,948,362	$	3,730,540
Note payable, net of debt discount and issuance costs		313,979		-		-		1,028,685		1,342,664
Deferred revenue		161,112		13,477		59,570		-		234,159
All other Liabilities		-		-		-		177,644		177,644
Total Liabilities	$	484,784	$	779,730	$	65,802	$	4,154,691	$	5,485,007

	As of December 31, 2020
	Creatd Labs		Creatd Partners		Corporate		Total
Accounts receivable, net	$	3,800	$	86,555	$	-	$	90,355
Prepaid expenses and other current assets		19,631		-		4,225		23,856
Intangible assets		-		960,611		-		960,611
Goodwill		-		1,035,795		-		1,035,795
All other assets		-		-		8,673,863		8,673,863
Total Assets	$	23,431	$	2,082,961	$	8,678,088	$	10,784,480
Accounts payable and accrued liabilities	$	6,221	$	83,964	$	2,548,503	$	2,638,688
Note payable, net of debt discount and issuance costs		55,928		-		1,165,611		1,221,539
Deferred revenue		-		88,637		-		88,637
All other Liabilities		-		-		1,390,420		1,390,420
Total Liabilities	$	62,149	$	172,601	$	5,104,534	$	5,339,284

	For the year ended December 31, 2021
	Creatd Labs			Creatd Ventures			Creatd Partners			Corporate			Total
Net revenue	$	1,926,374		$	90,194		$	2,283,149		$	-		$	4,299,717
Cost of revenue		3,186,240			148,989			1,964,808			-			5,300,037
Gross margin		(1,259,866	)		(58,940	)		318,341			-			(1,000,320	)
Research and development		758,293			131			225,104			-			983,528
Marketing		8,182,935			-			962,698			481,349			9,626,982
Stock based compensation		1,727,021			1,560,546			1,884,986			4,488,615			9,661,168
Impairment of  goodwill		-			-			1,035,795			-			1,035,795
General and administrative not including depreciation,  amortization, or Impairment		3,918,130			1,665,783			1,600,212			2,791,236			9,975,360
Depreciation and amortization		-			100,633			252,730			44,076			397,440
Impairment of intangibles		-			-			688,127			-			688,127
Total operating expenses	$	14,586,379		$	3,327,093		$	6,649,652		$	11,803,003		$	32,368,400
Interest expense		(12,706	)		-			-			(359,400	)		(372,106	)
All other expenses		-			-			-			(3,638,327	)		(3,638,327	)
Other expenses, net		(12,706	)								(3,997,727	)		(4,010,433	)
Loss before income tax provision and equity in net loss from unconsolidated investments	$	(15,858,951	)	$	(3,385,888	)	$	(6,331,311	)	$	(11,803,003	)	$	(37,379,153	)

	For the year ended December 31, 2020
	Creatd Labs			Creatd Partners			Corporate			Total
Net revenue	$	375,043		$	837,827		$	-		$	1,212,870
Cost of revenue		652,259			842,783			-			1,495,042
Gross margin		(277,216	)		(4,956	)		-			(282,172	)
Research and development		227,656			29,775			-			257,431
Marketing		2,426,668			285,490			142,745			2,854,904
Stock based compensation		1,226,495			1,338,678			4,295,990			6,861,163
General and administrative not including depreciation,  amortization, or Impairment		2,301,088			939,792			2,592,581			5,858,454
Depreciation and amortization		-			132,768			24,993			157,761
Impairment of intangibles		-			-			11,450			11,450
Total operating expenses	$	6,181,907		$	2,726,504		$	7,067,759		$	16,001,163
Interest expense		(15,828	)		-			(356,278	)		(372,106	)
All other expenses		-			-			(7,557,342	)		(7,557,342	)
Other expenses, net		(15,828	)		-			(7,913,620	)		(7,929,448	)
Loss before income tax provision and equity in net loss from unconsolidated investments	$	(6,474,951	)	$	(2,731,460	)	$	(14,981,379	)	$	(24,212,783	)

During the year ended December 31, 2021, Creatd Partners acquired assets from the Purchase of WHE. See note 14 for a list of assets acquired.

During the year ended December 31, 2021, Creatd Ventures acquired assets from the Purchase of Dune and Plant Camp. See note 14 for a list of assets acquired.