v3.23.2

DEFERRED REVENUES AND CUSTOMERS ADVANCES

6 Months Ended

Jun. 30, 2023

Revenue Recognition and Deferred Revenue [Abstract]

DEFERRED REVENUES AND CUSTOMERS ADVANCES

NOTE 12: DEFERRED REVENUES AND CUSTOMERS ADVANCES

Deferred revenues consist of deferred cloud-based monitoring services, communication services, warranty extension services and advance payments received from customers for the Company’s products. Deferred revenues are classified as short-term and long-term deferred revenues based on the period in which revenues are expected to be recognized.

Changes in the balances of deferred revenues and customer advances during the period are as follows:

		Three Months Ended June 30,								Six Months Ended June 30,
		2023				2022				2023				2022
Balance, at the beginning of the period		$	224,424			$	184,245			$	213,577			$	169,345
Revenue recognized			(19,000	)			(10,595	)			(21,990	)			(17,560	)
Increase in deferred revenues and customer advances			27,404				27,045				41,241				48,910
Balance, at the end of the period			232,828				200,695				232,828				200,695
Less current portion			(28,135	)			(30,460	)			(28,135	)			(30,460	)
Long term portion		$	204,693			$	170,235			$	204,693			$	170,235

The following table includes estimated revenues expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) as of June 30, 2023:

2023		$	21,700
2024			12,038
2025			10,880
2026			10,649
2027			8,668
Thereafter			168,893
Total deferred revenues		$	232,828

X

- Definition

The entire disclosure for deferred revenues at the end of the reporting period, and description and amounts of significant changes that occurred during the reporting period. Deferred revenue is a liability as of the balance sheet date related to a revenue producing activity for which revenue has not yet been recognized. Generally, an entity records deferred revenue when it receives consideration from a customer before achieving certain criteria that must be met for revenue to be recognized in conformity with GAAP.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 430
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//430/tableOfContent

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X

- References

No definition available.

+ Details

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