Triterras, Inc. Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Operating segment

Operating segment

12 Months Ended

Feb. 28, 2022

Disclosure Of Operating Segments [Abstract]

29	Operating segment

Operating segments are identified on the basis of internal reports about components of the Group that are regularly reviewed by the CODM (“Chief Operating Decision Maker”) for the purpose of resource allocation and performance assessment.

Segment results, assets and liabilities include items directly attributable to a segment as well as those that can be allocated on a reasonable basis. The Group operates in a single business segment which is a financial technology platform that facilitates trading and trade finance for small and medium sized enterprises using innovative blockchain-enabled technology. No operating segments have been aggregated to form the following reportable operating segment.

Business segment

The Group has only one operating segment for the year ended February 28, 2022, namely the platform marketplace, the details of which are set out below:

•

Platform – Engage customers to trade on the platform where the Group earns a fee based on the percentage agreed in the sales contract. Fees charged are based on total trading volume or total approved funds.

•

Trade marketplace – Connects trade participants and offer a range of trade financial solutions. Sales and purchase contracts are entered respectively with the suppliers and buyers. The Group acts as a principal in the trade to provide extended credit terms at a fee as agreed in the contract to the customers.

Geographical information

Revenue

	Year ended February 28, 2022		Year ended February 28, 2021		Year ended February 29, 2020
	US$		US$		US$
United Arab Emirates		53,625,000		26,769,533		1,634,115
Singapore		2,900,987		14,517,264		9,496,854
Hong Kong		147,537		7,488,714		3,378,300
Malaysia		1,562		4,584,790		1,887,039
Other countries		4,667		2,113,424		501,870
		56,679,753		55,473,725		16,898,178

The revenue information of continuing operations above is based on the location of the customers’ country of incorporation.

Non-current assets

All non-current assets of continuing operations above are based in Singapore, United Arab Emirates and United Kingdom.

Major customers

Revenue from top five customers of the Group’s trading platform business segment represents US$16,448,042 (2021: US$19,361,802; 2020: 8,619,056) of the Group’s total revenues.