v3.24.3

DEFERRED REVENUES AND CUSTOMERS ADVANCES

9 Months Ended

Sep. 30, 2024

Revenue Recognition and Deferred Revenue [Abstract]

DEFERRED REVENUES AND CUSTOMERS ADVANCES

NOTE 14:       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 September 30,								Nine Months Ended September 30,
		2024				2023				2024				2023
Balance, at the beginning of the period		$	251,014			$	232,828			$	255,443			$	213,577
Revenue recognized			(17,824	)			(19,869	)			(37,442	)			(25,819	)
Increase in deferred revenues and customer advances			20,947				21,130				36,136				46,331
Balance, at the end of the period			254,137				234,089				254,137				234,089
Less current portion			(27,367	)			(22,064	)			(27,367	)			(22,064	)
Long term portion		$	226,770			$	212,025			$	226,770			$	212,025

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 September 30, 2024:

2024		$	16,674
2025			14,248
2026			13,904
2027			11,829
2028			11,339
Thereafter			186,143
Total deferred revenues		$	254,137

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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