XML 37 R26.htm IDEA: XBRL DOCUMENT v3.22.2
SIGNIFICANT ACCOUNTING POLICIES (Tables)
6 Months Ended
Jun. 30, 2022
SIGNIFICANT ACCOUNTING POLICIES  
Schedule of purchased and collected principal amounts associated with Capital Advance (CA) receivables

During the six months ended June 30, 2022 and 2021, the Company has purchased and collected the following principal amounts associated with CAs:

June 30, 

2022

2021

Beginning CA receivables, gross

$

56,101

$

67,682

CA extended to customers

109,713

193,567

Change in revenue receivables

44

117

CA collected from customers

(122,034)

(206,014)

Charge-offs, net of recoveries

(1,349)

(354)

Ending CA receivables, gross

$

42,475

$

54,998

Allowance for CA losses

 

(3,873)

 

(5,772)

CA receivables, net

$

38,602

$

49,226

Schedule of current and overdue amounts of CAs

The outstanding gross balance at June 30, 2022 consists of the following current and overdue amounts:

130 days

    

3060

    

6090

Above 90

Total

Current

overdue

overdue

overdue

overdue

$

42,475

39,158

1,065

721

236

1,295

The outstanding gross balance at December 31, 2021 consists of the following current and overdue amounts:

    

    

130 days

    

3060

    

6090

    

Above 90

Total

    

Current

    

overdue

    

overdue

    

overdue

    

overdue

$

56,101

 

53,150

 

964

 

704

 

163

 

1,120

Schedule of current and overdue balances CAs that are segregated into the timing of expected collections

The following are current and overdue balances from above that are segregated into the timing of expected collections at June 30, 2022:

Due in less

Due in 3060

Due in 6090

Due in more

Total

    

Overdue

    

than 30 days

    

days

    

days

    

than 90 days

$

42,475

3,318

8,178

6,753

18,365

5,861

The following are current and overdue balances from above that are segregated into the timing of expected collections at December 31, 2021:

    

Due in less

Due in 3060

Due in 6090

    

Due in more

Total

    

Overdue

    

than 30 days

    

days

    

days

    

than 90 days

$

56,101

 

2,951

 

9,511

 

12,457

 

23,008

 

8,174

Schedule of rollforward for the allowance for CA losses ("ALCAL")

Below is a rollforward for the allowance for CA losses (“ALCAL”) for the six months ended June 30, 2022 and 2021:

June 30, 

2022

2021

Beginning balance

$

2,426

$

1,587

Adjustment for adoption of new accounting standard

2,505

Provisions

1,293

8,035

Recoveries

(1,002)

(3,441)

Charge-offs

(1,349)

(409)

Ending balance

$

3,873

$

5,772

Schedule of revenue disaggregated by primary geographical market

Three months ended

 

Six months ended

June 30, 

June 30, 

    

2022

    

2021

    

2022

    

2021

Primary geographical markets

 

  

 

  

Greater China(1)

$

46,785

$

37,640

$

89,826

$

77,027

United States

 

18,528

 

13,409

 

38,310

21,368

All other countries(2)

 

82,877

 

59,878

157,012

113,138

Total revenues

$

148,190

$

110,927

$

285,148

$

211,533

(1)Greater China is inclusive of Mainland China, Hong Kong and Taiwan
(2)No single country included in the other countries’ category generated more than 10% of total revenue
Schedule of revenue recognized from contracts with customers as well as revenue from other sources

Three months ended June 30, 

 

Six months ended June 30, 

    

2022

    

2021

    

2022

2021

Revenue recognized at a point in time

$

135,063

$

102,425

$

261,006

$

199,768

Revenue recognized over time

 

9,634

 

7,856

19,790

10,590

Revenue from contracts with customers

 

144,697

 

110,281

280,796

210,358

Revenue from other sources

 

3,493

 

646

4,352

1,175

Total revenues

$

148,190

$

110,927

$

285,148

$

211,533

Schedule of deferred customer acquisition costs

    

June 30, 

2022

2021

Opening balance

    

$

11,366

$

8,976

Additions to deferred customer acquisition costs

 

6,378

 

2,628

Amortization of deferred customer acquisition costs

 

(5,933)

 

(2,089)

Ending balance

$

11,811

$

9,515