Segment information (Tables)

9 Months Ended

Sep. 30, 2017

Segment information

Schedule of revenue by segment and geographical region and reconciliations to consolidated revenue and gross profit

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2017		2016		2017		2016
Net Revenue:
APAC	$	4,320,879	$	3,962,539	$	12,558,229	$	11,541,521
The Americas		4,099,625		2,634,887		10,295,406		7,264,448
EMEA		1,112,749		1,578,050		3,623,488		5,962,345
Total multi-currency processing services revenue		9,533,253		8,175,476		26,477,123		24,768,314
Payment processing services revenue		4,272,071		5,445,763		12,573,469		15,640,814
Net revenue	$	13,805,324	$	13,621,239	$	39,050,592	$	40,409,128
Gross Profit:
APAC	$	4,303,113	$	3,942,457	$	12,494,444	$	11,467,607
The Americas		3,904,298		2,470,294		9,703,121		6,766,889
EMEA		912,020		1,229,358		2,875,245		4,636,893
Total multi-currency processing services gross profit		9,119,431		7,642,109		25,072,810		22,871,389
Payment processing services gross profit		1,908,043		2,664,474		6,008,387		7,433,612
Total reportable segment gross profit		11,027,474		10,306,583		31,081,197		30,305,001
Corporate allocated cost of sales		2,617,283		2,344,721		8,024,111		8,005,954
Total gross profit	$	8,410,191	$	7,961,862	$	23,057,086	$	22,299,047
Income from operations before provision for income taxes:
Total gross profit	$	8,410,191	$	7,961,862	$	23,057,086	$	22,299,047
Selling, general and administrative expenses		4,621,566		5,222,560		14,590,609		15,908,166
Restructuring charges		-		229,121		72,742		354,389
Income from operations		3,788,625		2,510,181		8,393,735		6,036,492
Interest expense		(12,863)		(88,669)		(222,008)		(186,366)
Interest income		644		428		1,752		1,250
Other income		111,613		93,016		111,613		93,016
Total other income (expense), net		99,394		4,775		(108,643)		(92,100)
Income from operations before provision for income taxes	$	3,888,019	$	2,514,956	$	8,285,092	$	5,944,392

Schedule of concentration of revenue by customer by geographical region

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2017		2016		2017		2016
Multi-currency processing services revenue:
APAC:
Customer A	59	%	56	%	58	%	56	%
The Americas:
Customer D	12		22		16		22
Customer E	10		*		*		*
Customer F	10		*		*		*
Customer G	*		*		11		*
Customer I	11		15		12		12
Customer J	11		15		10		11
EMEA:
Customer C	36		58		44		61
Customer H	34		37		40		37
Customer K	28		*		15		*

(*)Less than 10% revenue concentration.