SEGMENT INFORMATION

12 Months Ended

Dec. 31, 2024

NOTE 10 SEGMENT INFORMATION

The Company operates and manages its business as two reportable and operating segments. The Company’s CODM reviews financial information presented and decides how to allocate resources based on net income (loss). Net income (loss) is used for evaluating financial performance.

Significant segment expenses include salaries and payroll, stock based compensation, marketing, public company expenses, audit and accounting, consulting, research and development, travel and entertainment, software subscription and other administrative expenses for the US and salaries and payroll, insurance, rent, travel and entertainment, office supplies and postage, pension and other administrative expenses. The following table presents the significant segment expenses and other segment items regularly reviewed by our CODM.

SCHEDULE OF SEGMENT INFORMATION

										-
	Consolidated			US			Taiwan		Consolidated			US			Taiwan
	December 31, 2024								December 31, 2023

Revenues	$	6,020,639		$	869,261		$	5,151,378	$	6,495,865		$	852,136		$	5,643,729
Cost of Goods Sold		4,719,005			615,010			4,103,995		5,428,261			932,868			4,495,393
Gross Profit		1,301,634			254,251			1,047,383		1,067,604			(80,732	)		1,148,336
										-
Operating Expenses										-
Salaries and Payroll Expenses		1,667,330			967,793			699,537		1,756,364			988,848			767,516
Pension		21,832						21,832		20,518						20,518
Travel and Entertainment		552,123			483,146			68,977		640,815			587,317			53,498
Stock-based compensation		122,600			122,600					104,600			104,600
Marketing		757,736			757,736					332,852			332,852
Public Company expenses		520,966			520,966					354,215			354,215
Audit and Accounting		312,920			312,920					162,700			162,700
Consulting Services		412,962			412,962					367,148			367,148
Research and Development		363,350			363,350					797,112			797,112
Software Subscription		85,111			85,111					42,209			42,209
Insurance		60,873			12,664			48,209		57,851			12,270			45,581
Rent		142,986			101,731			41,255		123,255			83,002			40,253
Office Supplies and Postage		34,276						34,276		25,813						25,813
Other operating expenses		316,872			215,849			101,023		323,027			270,937			52,090
Total Operating Expenses		5,371,937			4,356,828			1,015,109		5,108,479			4,103,210			1,005,269
Loss (Income) from Operations		(4,070,303	)		(4,102,577	)		32,274		(4,040,875	)		(4,183,943	)		143,068
Interest Income and Other (Expenses), net		121,868			95,330			26,538		(83,483	)		(84,452	)		969
Net loss before Income Tax	$	(3,948,435	)	$	(4,007,247	)	$	58,812	$	(4,124,358	)	$	(4,268,395	)	$	144,037

Furthermore, due to operations in various geographic locations, we are susceptible to changes in national, regional, and local economic conditions, demographic trends, consumer confidence in the economy, and discretionary spending priorities that may have a material adverse effect on our future operations and results.

We are required to collect certain taxes and fees from customers on behalf of government agencies and remit them back to the applicable governmental agencies on a periodic basis. The taxes and fees are legal assessments to the customer, for which we have a legal obligation to act as a collection agent. Because we do not retain the taxes and fees, we do not include such amounts in revenue. We record a liability when the amounts are collected and relieve the liability when payments are made to the applicable governmental agencies.

The net assets (liabilities) for our significant geographic regions are as follows:


	Net Assets (Liabilities)
	For the Year Ended		For the Year Ended
	December 31, 2024		December 31, 2023
United States	$	1,775,554	$	3,741,367
Republic of China (Taiwan)	$	729,885	$	907,113
Total Consolidated	$	2,505,439	$	4,648,480

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

Iveda Solutions, Inc. 10-K/A