Payoneer Global Inc. Segments Disclosure
NOTE 21 – SEGMENT INFORMATION
The Company determines operating segments based on how its CODM manages the business, makes operating decisions around the allocation of resources, and evaluates operating performance. The Company’s CODM are its Chief Executive Officer and Chief Financial Officer, who review its operating results on a consolidated basis. The Company operates in one segment and has one reportable segment.
The Company’s CODM use consolidated net income, as shown on the consolidated statements of comprehensive income (loss), as the measure of segment profitability. The CODM use net income to evaluate the Company’s ongoing operations and for internal planning and forecasting purposes. This analysis is used in making strategic investment decisions. The Company’s measure of segment assets is reported on the consolidated balance sheets as total assets.
Year Ended December 31, | |||||||||
| 2025 | | 2024 | | 2023 | ||||
Revenue | $ | 1,052,774 | $ | 977,716 | $ | 831,103 | |||
Less: |
|
|
| ||||||
Transaction cost1 | (165,239) | (152,106) | (122,291) | ||||||
Labor & related |
| (303,664) |
| (279,254) |
| (272,588) | |||
Stock-based compensation |
| (73,104) |
| (64,787) |
| (65,767) | |||
3rd party contractors | (36,720) | (37,397) | (36,865) | ||||||
IT & communication | (81,670) | (70,783) | (53,962) | ||||||
Depreciation & amortization | (65,625) | (47,296) | (27,814) | ||||||
Other operating expenses2 | (202,085) | (177,062) | (148,207) | ||||||
Income taxes | (42,396) | (18,308) | (39,203) | ||||||
Other segment items3 | (9,079) | (9,560) | 28,927 | ||||||
Net income | $ | 73,192 | $ | 121,163 | $ | 93,333 | |||
| (1) | Refer to Note 20 for disaggregation of transaction cost into significant segment expense categories. |
| (2) | Other operating expenses include miscellaneous, individually insignificant operating expenses. The Company’s CODM review these items in aggregate. |
| (3) | Other segment items included in net income include finance income and expense, which primarily includes corporate interest income, and foreign currency remeasurement gains and losses. |
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 26, 2026 | Showing above |
| 2024 | Feb 27, 2025 | |
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.