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Note 6 - Revenue, Deferred Revenue and Accounts Receivable

12 Months Ended

Nov. 30, 2022

Revenue, Deferred Revenue and Accounts Receivable [Text Block]

6.	REVENUE, DEFERRED REVENUE AND ACCOUNTS RECEIVABLE

Deferred Revenue

Changes in deferred revenue, which relate to unfulfilled e-commerce orders and amounts to be recognized under extended 3-year service warranties, for the year ended November 30, 2022 and 2021 are summarized below.


Deferred revenue balance, November 30, 2020	$	4,902
Net additions to deferred revenue		33,641
Reductions in deferred revenue for revenue recognized during the fiscal year		(37,418	)
Deferred revenue balance, November 30, 2021		1,125
Net additions to deferred revenue		30,817
Reductions in deferred revenue for revenue recognized during the fiscal year		(31,144	)
Deferred revenue balance, November 30, 2022	$	798
Less current portion		458
Deferred revenue, non-current	$	340

Revenue Disaggregation

The following table presents disaggregation of the Company’s revenue by market and distribution channel (in thousands):

	Years Ended
	November 30,
	2022		2021
U.S. Domestic	$	38,856	$	38,690
South Africa		2,569		3,470
Europe/South America/Asia		6,431		—
Canada		180		—
Total	$	48,036	$	42,160

	Years Ended
	November 30,
Distribution channel	2022		2021
Wholesale (dealer/distributors)	$	17,504	$	9,568
E-commerce		30,532		32,592
Total	$	48,036	$	42,160

Accounts Receivable

The Company records accounts receivables due from dealers/distributors, large end-users such as retail stores, security companies and law enforcement agencies. Payment terms to customers other than e-commerce customers are generally 30-60 days for established customers, whereas new wholesale and large end-user customers have prepaid terms for their first order. Accounts receivable, net of allowances, was $5.9 million, $1.7 million, and $0.8 millions as of November 30, 2022, 2021 and 2020 respectively.

An allowance for doubtful accounts receivable is maintained for potential credit losses based upon management's assessment of the expected collectability of all accounts receivable. As of November 30, 2022, 2021 and 2020, the allowance for doubtful accounts receivable totaled less than $0.02 million for each year.