Currenc Group Inc. Segments Disclosure
18 Segments
| Years ended December 31, | ||||||||
| 2024 | 2023 | |||||||
| US$ | US$ | |||||||
| Revenue | ||||||||
| Remittance services | ||||||||
| Fiat remittance | 21,592,260 | 25,287,487 | ||||||
| ODL remittance | 880,171 | 1,407,709 | ||||||
| Sales of Airtime | 23,840,573 | 26,398,707 | ||||||
| Other services | 122,408 | 161,458 | ||||||
| 46,435,412 | 53,255,361 | |||||||
| Years ended December 31, | ||||||||
| 2024 | 2023 | |||||||
| US$ | US$ | |||||||
| Cost of sales | ||||||||
| Remittance services | (9,475,812 | ) | (11,375,525 | ) | ||||
| Sales of Airtime | (21,999,692 | ) | (24,206,112 | ) | ||||
| Other services | (367,963 | ) | (317,419 | ) | ||||
| (31,843,467 | ) | (35,899,057 | ) | |||||
| Years ended December 31, | ||||||||
| 2024 | 2023 | |||||||
| US$ | US$ | |||||||
| Gross Profit | ||||||||
| Remittance services | 12,996,619 | 15,319,671 | ||||||
| Sales of Airtime | 1,840,881 | 2,192,595 | ||||||
| Other services | (245,555 | ) | (155,962 | ) | ||||
| 14,591,945 | 17,356,304 | |||||||
CURRENC GROUP INC. AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
| 18 | Segments (Continued) |
The following table sets forth the Expenditures for additions to long-lived assets other than goodwill and acquired intangible assets:
| December 31, | ||||||||
| 2024 | 2023 | |||||||
| US$ | US$ | |||||||
| Remittance services expense | 582,256 | 302,950 | ||||||
| Sales of Airtime | ||||||||
| Other services | ||||||||
| 582,256 | 302,950 | |||||||
The following table sets forth the revenues by geographical area:
| Years ended December 31, | ||||||||
| 2024 | 2023 | |||||||
| US$ | US$ | |||||||
| Revenue | ||||||||
| Hong Kong | 4,370,290 | 9,726,364 | ||||||
| Malaysia | 27,560,318 | 29,317,906 | ||||||
| Indonesia | 14,504,804 | 14,211,091 | ||||||
| 46,435,412 | 53,255,361 | |||||||
The following table sets forth the long-lived assets other than goodwill and intangible assets by geographical area:
| December 31, | ||||||||
| 2024 | 2023 | |||||||
| US$ | US$ | |||||||
Long-lived assets other than goodwill and acquired intangible assets | ||||||||
| Hong Kong | 4,368,106 | |||||||
| Malaysia | 1,352,906 | 1,005,601 | ||||||
| Indonesia | 51,854 | 62,056 | ||||||
| 1,404,760 | 5,435,763 | |||||||
| Add: Non-disclose items | ||||||||
| Investment in an equity security | 100,000 | |||||||
| Deferred tax assets | 342,822 | 664,888 | ||||||
| Goodwill | 12,059,428 | 27,001,383 | ||||||
| Acquired intangible assets | 3,386,117 | 4,926,674 | ||||||
| 15,788,367 | 33,001,041 | |||||||
CURRENC GROUP INC. AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
| 18 | Segments (Continued) |
The following table sets forth the goodwill by reportable segments:
| December 31, | ||||||||
| 2024 | 2023 | |||||||
| US$ | US$ | |||||||
| Remittance services | 12,919,935 | 12,921,592 | ||||||
| Sales of Airtime | 8,639,493 | 14,079,791 | ||||||
| 21,559,428 | 27,001,383 | |||||||
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.