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SIGNIFICANT ACCOUNTING POLICIES (Tables)
9 Months Ended
Sep. 30, 2022
SIGNIFICANT ACCOUNTING POLICIES  
Schedule of purchased and collected principal amounts associated with Capital Advance (CA) receivables

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

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September 30, 

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2022

​

2021

Beginning CA receivables, gross

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$

56,101

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$

67,682

CA extended to customers

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​

146,439

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​

255,758

Change in revenue receivables

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(129)

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​

205

CA collected from customers

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(163,395)

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(270,520)

Charge-offs, net of recoveries

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(2,059)

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(654)

Ending CA receivables, gross

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$

36,957

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$

52,471

Allowance for CA losses

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(3,629)

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(5,173)

CA receivables, net

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$

33,328

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$

47,298

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Schedule of current and overdue amounts of CAs

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

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1‑30 days

    

30‑60

    

60‑90

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Above 90

Total

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Current

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overdue

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overdue

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overdue

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overdue

$

36,957

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34,532

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606

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343

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305

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1,171

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

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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 September 30, 2022:

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Due in less

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Due in 30‑60

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Due in 60‑90

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Due in more

Total

    

Overdue

    

than 30 days

    

days

    

days

    

than 90 days

$

36,957

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2,425

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4,358

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11,529

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12,268

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6,377

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

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Due in less

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Due in 30‑60

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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 nine months ended September 30, 2022 and 2021:

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September 30, 

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2022

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2021

Beginning balance

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$

2,426

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$

1,587

Adjustment for adoption of new accounting standard

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2,505

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—

Provisions

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1,584

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9,296

Recoveries

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(827)

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(5,056)

Charge-offs

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(2,059)

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(654)

Ending balance

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$

3,629

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$

5,173

Schedule of revenue disaggregated by primary geographical market

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Three months ended

 

Nine months ended

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September 30, 

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September 30, 

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2022

    

2021

    

2022

    

2021

Primary geographical markets

 

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Greater China(1)

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$

50,162

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$

39,412

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$

139,988

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$

116,439

United States

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20,675

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16,731

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58,985

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38,100

All other countries(2)

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88,080

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66,508

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245,092

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​

179,645

Total revenues

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$

158,917

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$

122,651

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$

444,065

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$

334,184

(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

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Three months ended September 30, 

 

Nine months ended September 30, 

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2022

    

2021

    

2022

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2021

Revenue recognized at a point in time

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$

134,394

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$

112,431

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$

395,400

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$

312,199

Revenue recognized over time

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9,477

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9,580

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29,267

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20,171

Revenue from contracts with customers

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143,871

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122,011

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424,667

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332,370

Revenue from other sources

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15,046

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640

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19,398

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​

1,814

Total revenues

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$

158,917

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$

122,651

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$

444,065

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$

334,184

Schedule of deferred customer acquisition costs

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September 30, 

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2022

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2021

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Opening balance

    

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$

11,366

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$

8,976

Additions to deferred customer acquisition costs

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9,002

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7,930

Amortization of deferred customer acquisition costs

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(9,365)

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(6,442)

Ending balance

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$

11,003

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$

10,464