v3.24.0.1

DEFERRED REVENUES | 12 Months Ended
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Dec. 31, 2023
Revenue Recognition and Deferred Revenue [Abstract] |
DEFERRED REVENUES | NOTE 15: DEFERRED REVENUES 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. Significant changes in the balances of deferred revenues during the period are as follows:
|  | December 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
Balance, at the beginning of the period |  | $ | 213,577 |  |  | $ | 169,345 |  |  | $ | 140,020 |
Revenue recognized |  |  | (29,650 | ) |  |  | (23,017 | ) |  |  | (26,093 | )
Increase in deferred revenues and customer advances |  |  | 71,516 |  |  |  | 67,249 |  |  |  | 55,418 |
Balance, at the end of the period |  |  | 255,443 |  |  |  | 213,577 |  |  |  | 169,345 |
Less current portion |  |  | (40,836 | ) |  |  | (26,641 | ) |  |  | (17,789 | )
Long term portion |  | $ | 214,607 |  |  | $ | 186,936 |  |  | $ | 151,556 |
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 December 31, 2023:
2024 |  | $ | 40,836 |
2025 |  |  | 13,786 |
2026 |  |  | 13,417 |
2027 |  |  | 11,314 |
2028 |  |  | 10,084 |
Thereafter |  |  | 166,006 |
Total deferred revenues |  | $ | 255,443 |

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- 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 + Details
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- References No definition available. + Details
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