v3.26.1
Segment and Geographical Information
3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Segment and Geographical Information Segment and Geographical Information
The Company's chief operating decision maker ("CODM") is its Chief Executive Officer. The CODM has determined that the Company operates in one single operating and reportable segment and manages segment performance and resource allocation based upon consolidated net income (loss). The CODM uses consolidated net income (loss) in deciding whether to reinvest profits into opportunities for the business, invest in business combinations or equity investments or return a portion of such profits to shareholders. The measure of segment assets is reported on the condensed consolidated balance sheets as total consolidated assets. Significant expenses reviewed by the CODM include those that are presented in the Condensed Consolidated Statements of Operations and Comprehensive Loss.
The following table presents total external revenues by geographic location, based on the location of the Company’s merchants:
Three months ended March 31,
 20262025
(in US $ millions, except percentages)
North America
United States2,001 63 %1,499 64 %
Canada147 %119 %
Europe
653 21 %461 20 %
APAC312 10 %240 10 %
Rest of World
57 %41 %
Total Revenue
3,170 100 %2,360 100 %