REVENUE

9 Months Ended

Sep. 30, 2024

REVENUE

REVENUE

NOTE 16 – REVENUE

The following table presents revenue recognized from contracts with customers as well as revenue from other sources:

	Three months ended September 30,				Nine months ended September 30,
	2024		2023		2024		2023
Revenue recognized at a point in time	$	179,641	$	144,665	$	510,188	$	417,788
Revenue recognized over time		719		537		1,873		16,265
Revenue from contracts with customers	$	180,360	$	145,202	$	512,061	$	434,053
Interest income on customer balances	$	65,162	$	60,416	$	196,251	$	165,767
Capital advance income		2,752		2,417		7,665		6,963
Revenue from other sources	$	67,914	$	62,833	$	203,916	$	172,730
Total revenues	$	248,274	$	208,035	$	715,977	$	606,783

Based on the information provided to and reviewed by the Company’s Chief Operating Decision Maker (“CODM”), the Company believes that the nature, amount, timing, and uncertainty of its revenue and cash flows and how they are affected by economic factors are most appropriately depicted through its primary regional markets. The following table presents the Company’s revenue disaggregated by primary regional market, with revenues being attributed to the country (in the region) in which the billing address of the transacting customer is located, with the exception of global bank transfer revenues, where revenues are disaggregated based on the billing address of the transaction funds source.

	Three months ended				Nine months ended
	September 30,				September 30,
	2024		2023		2024		2023
Primary regional markets
Greater China1	$	85,111	$	72,513	$	250,908	$	207,700
Europe2		48,666		42,378		137,730		122,698
Asia-Pacific2		37,770		29,145		107,360		81,911
North America3		25,162		22,358		70,970		73,935
South Asia, Middle East and North Africa2		26,809		22,181		76,648		63,837
Latin America2		24,756		19,460		72,361		56,702
Total revenues	$	248,274	$	208,035	$	715,977	$	606,783

(1) Greater China is inclusive of mainland China, Hong Kong, Macao and Taiwan.

(2) No single country included in any of these regions generated more than 10% of total revenue.

(3) The United States is the Company’s country of domicile. Of North America revenues, the U.S. represents $24,030 and $21,348 during the three months ended September 30, 2024 and 2023, respectively, and $67,600 and $70,919 during the nine months ended September 30, 2024 and 2023, respectively.