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Note 7 - Revenue, Deferred Revenue and Accounts Receivable

12 Months Ended

Nov. 30, 2023

Revenue, Deferred Revenue and Accounts Receivable [Text Block]

7.	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 warranty, for the years ended November 30, 2023 and 2022 are summarized below (in thousands).


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
Net additions to deferred revenue		31,049
Reductions in deferred revenue for revenue recognized during the fiscal year		(29,912	)
Deferred revenue balance, November 30, 2023	$	1,935
Less current portion		1,844
Deferred revenue, non-current	$	91

Revenue Disaggregation

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

	Years Ended
	November 30,
Geographical Market		2023		2022
U.S. Domestic	$	40,182	$	38,856
South Africa		402		2,569
Europe/South America/Asia		1,013		6,431
Canada		1,047		180
Total	$	42,644	$	48,036

	Years Ended
	November 30,
Distribution channel	2023		2022
Wholesale (dealer/distributors)	$	12,737	$	17,504
E-commerce		29,907		30,532
Total	$	42,644	$	48,036

Accounts Receivable

The Company records accounts receivables due from dealers/distributors, large end-users such as retail stores, security companies and law enforcement agencies. Accounts receivable, net of allowances, was $2.9 million, $5.9 million, and $1.7 million as of November 30, 2023, 2022 and 2021 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, 2023, 2022 and 2021, the allowance for doubtful accounts receivable was $0.6 million, $0.02 million, and $0.01 million, respectively.