SEGMENT INFORMATION and GEOGRAPHIC INFORMATION (Tables)

3 Months Ended

Mar. 31, 2025

SEGMENT INFORMATION and GEOGRAPHIC INFORMATION


	Lofty		Trucker Path		The Corporate		Eliminations		Consolidated
For the three months ended March 31, 2025
Revenues:
Subscription services	$	8,561	$	7,776	$	—	$	—	$	16,337
Advertising services		395		328		—		—		723
Other Saas services		855		43		—		—		898
Other services		—		—		157		(115)		42
Total revenues		9,811		8,147		157		(115)		18,000
Cost		2,063		2,484		39		—		4,586
Gross profit		7,748		5,663		118		(115)		13,414
Operating expenses:
Selling and marketing expense		4,585		1,200		45		(107)		5,723
Research and development expense		2,916		2,840		12		(7)		5,761
General and administrative expense		1,691		681		533		(1)		2,904
Total operating expenses		9,192		4,721		590		(115)		14,388
(Loss) income from operations	$	(1,444)	$	942	$	(472)	$	—	$	(974)
Other income, net										66
Loss from fair value change of a long-term investment										(21)
Interest income										282
Loss before provision of income tax and loss in equity method investments and non-controlling interest, net of tax									$	(647)

Other segment information:
Depreciation and amortization	$	142	$	13	$	31	$	—	$	186
Goodwill		2,739		—		—		—		2,739
Intangible assets, net		1,483		360		19		—		1,862

For the three months ended March 31, 2024
Revenues:
Subscription services	$	7,514	$	5,638	$	—	$	—	$	13,152
Advertising services		359		405		—		—		764
Other Saas services		76		(10)		—		—		66
Other services		—		—		156		(115)		41
Total revenues		7,949		6,033		156		(115)		14,023
Cost		1,387		1,893		36		—		3,316
Gross profit		6,562		4,140		120		(115)		10,707
Operating expenses:
Selling and marketing expense		3,166		959		58		(107)		4,076
Research and development expense		2,111		2,131		223		(7)		4,458
General and administrative expense		1,260		690		1,449		(1)		3,398
Impairment of intangible assets		207				—		—		207
Total operating expenses		6,744		3,780		1,730		(115)		12,139
Loss from operations	$	(182)	$	360	$	(1,610)	$	—	$	(1,432)
Other income, net										34
Loss from fair value change of a long-term investment										(1,488)
Interest income										362
Loss before provision of income tax and loss in equity method investments and non-controlling interest, net of tax									$	(2,524)

Other segment information:
Depreciation and amortization	$	81	$	12	$	33	$	—	$	126
Intangible assets, net		59		371		27		—		457

Schedule of total revenues


	For the three months ended March 31,
		2024		2025
United States	$	13,670	$	16,853
International		353		1,147
Total operating revenues	$	14,023	$	18,000

Schedule of long-lived assets, net


	As of December 31,		As of March 31,
	2024		2025
United States	$	7,281	$	7,144
International		2,301		2,437
Long-lived assets, net	$	9,582	$	9,581

Moatable, Inc. 10-Q