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:

			1‑30 days	30‑60	60‑90	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:

			1‑30 days	30‑60	60‑90	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 30‑60	Due in 60‑90	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 30‑60	Due in 60‑90	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