17. Operating segments Change to internal reporting structure and restatement of previously reported information During September 2020, the Companys chief operating decision maker changed the Companys operating and internal reporting structures following the Companys decisions to focus primarily on the South African market and to exit its operating activities performed through IPG. The chief operating decision maker has decided to analyze the Companys operating performance primarily based on reported information for statutory entity, statutory groups, clustered statutory entities or clustered statutory groups, with certain reallocations, based on the activity of the reporting unit. Previously reported information has been restated. Reallocation of certain activities among operating segments During the first quarter of fiscal 2021, the Company reorganized its operating segments by combining what were previously the South African transaction processing segment and the International transaction processing segment into what is now the Processing segment and bifurcating what was previously the Financial inclusion and applied technologies segment into what are now the Financial services segment and the Technology segment. Segment results for the three months ended September 30, 2020 reflect these changes to the operating segments. Operating segments The Company discloses segment information as reflected in the management information systems reports that its chief operating decision maker uses in making decisions and to report certain entity-wide disclosures about products and services, and the countries in which the entity holds material assets or reports material revenues. The Company currently has three reportable segments: Processing, Financial services and Technology. All three segments operate mainly within South Africa and certain of our activities outside of South Africa have been allocated to Processing. The Companys reportable segments offer different products and services and require different resources and marketing strategies and share the Companys assets. The Processing segment includes fees earned by the Company from processing activities performed for its customers and revenue generated from the distribution of prepaid airtime. The Company provides its customers with transaction processing services that involve the collection, transmittal and retrieval of all transaction data. Customers that have a bank account managed by the Company are issued cards that can be utilized to withdraw funds at an ATM or to transact at a merchant point of sale device (POS). The Company earns processing fees from transactions processed for these customers. The Company also earns fees on transactions performed by other banks customers utilizing its ATM, POS or bill payment infrastructure. The Processing segment includes IPGs processing activities. The Financial services segment includes activities related to the provision of financial services to customers, including a bank account, loans and insurance products. The Company charges monthly administration fees for all bank accounts. The Company provides short-term loans to customers in South Africa for which it earns initiation and monthly service fees. The Company writes life insurance contracts, primarily funeral-benefit policies, and policy holders pay the Company a monthly insurance premium. The Technology segment includes sale of hardware and licenses to customers. Hardware includes the sale of POS devices, SIM cards and other consumables which can occur on an ad hoc basis. Licenses include the right to use certain technology developed by the Company. Corporate/Eliminations includes the Companys head office cost center and the amortization of acquisition-related intangible assets. Revenue Reportable Segment Inter-segment From external customers Processing $ 24,483 $ 988 $ 23,495 Financial services 8,265 745 7,520 Technology 6,211 113 6,098 Total for the three months ended September 30, 2020 $ 38,959 $ 1,846 $ 37,113 Processing $ 30,017 $ 2,202 $ 27,815 Financial services 14,168 953 13,215 Technology 7,209 301 6,908 Total for the three months ended September 30, 2019 $ 51,394 $ 3,456 $ 47,938 The Company does not allocate interest income, interest expense or income tax expense to its reportable segments. The Company evaluates segment performance based on segment operating income before acquisition-related intangible asset amortization which represents operating income before acquisition-related intangible asset amortization and expenses allocated to Corporate/Eliminations, all under GAAP. The reconciliation of the reportable segments measures of profit or loss to loss before income tax (benefit) expense for the three months ended September 30, 2020 and 2019, is as follows: Three months ended September 30, 2020 2019 Reportable segments measure of profit or loss $ ( 7,898) $ ( 4,015) Operating income: Corporate/Eliminations ( 2,877) ( 2,421) Interest income 611 363 Interest expense ( 747) ( 1,347) Loss before income tax (benefit) expense $ ( 10,911) $ ( 7,420) 17. Operating segments (continued) Operating segments (continued) The following tables summarize segment information that is prepared in accordance with GAAP for the three months ended September 30, 2020 and 2019: Three months ended September 30, 2020 2019 Revenues Processing $ 24,483 $ 30,017 IPG 1,209 793 All others 23,274 29,224 Financial services 8,265 14,168 Technology 6,211 7,209 Total 38,959 51,394 Operating (loss) income Processing ( 7,301) ( 5,505) IPG ( 2,772) ( 1,973) All others ( 4,529) ( 3,532) Financial services ( 2,372) 345 Technology 1,775 1,145 Subtotal: Operating segments ( 7,898) ( 4,015) Corporate/Eliminations ( 2,877) ( 2,421) Total ( 10,775) ( 6,436) Depreciation and amortization Processing 704 823 Financial services 136 218 Technology 2 166 Subtotal: Operating segments 842 1,207 Corporate/Eliminations 81 117 Total 923 1,324 Expenditures for long-lived assets Processing 246 2,068 Financial services 28 79 Technology 1 2 Subtotal: Operating segments 275 2,149 Corporate/Eliminations - - Total $ 275 $ 2,149 The segment information as reviewed by the chief operating decision maker does not include a measure of segment assets per segment as all of the significant assets are used in the operations of all, rather than any one, of the segments. The Company does not have dedicated assets assigned to a particular operating segment. Accordingly, it is not meaningful to attempt an arbitrary allocation and segment asset allocation is therefore not presented.