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Note B - Revenue From Contracts With Customers
 12 Months Ended
Dec. 31, 2023
Notes to Financial Statements  
Revenue from Contract with Customer [Text Block]

NOTE B—REVENUE FROM CONTRACTS WITH CUSTOMERS

 

Disaggregation of Revenue

 

The following table summarizes revenue from contracts with customers for the years ended December 31, 2023 and 2022:

 

  

North

              

December 31,

 
  

America

  

Africa

  

EMESA*

  

Asia

  

2023

 
                     

License fees

 $1,971,348  $552,630  $1,801,381  $16,651  $4,342,010 

Hardware

  147,815   0   1,013,295   32,900   1,194,010 

Services

  1,116,935   101,816   981,848   18,286   2,218,885 

Total revenues

 $3,236,098  $654,446  $3,796,524  $67,837  $7,754,905 

 

  

North

              

December 31,

 
  

America

  

Africa

  

EMESA*

  

Asia

  

2022

 
                     

License fees

 $1,856,814  $517,161  $2,124,088  $85,989  $4,584,052 

Hardware

  422,275   25,833   19,914   178,464   646,486 

Services

  1,270,067   83,306   436,293   54   1,789,720 

Total revenues

 $3,549,156  $626,300  $2,580,295  $264,507  $7,020,258 

 

* EMESA – Europe, Middle East, South America

 

Revenue recognized during the year ended December 31, 2023 from amounts included in deferred revenue at the beginning of the year was approximately $467,000. Revenue recognized during the year ended December 31, 2022 from amounts included in deferred revenue at the beginning of the year was approximately $489,000. Total deferred revenue (contract liability) was approximately $443,000 and $515,000 at December 31, 2023 and 2022, respectively.

 

Transaction Price Allocated to the Remaining Performance Obligations

 

ASC 606 requires that the Company disclose the aggregate amount of transaction price that is allocated to performance obligations that have not yet been satisfied. The guidance provides certain practical expedients that limit this requirement, which the Company’s contracts meet as follows:

 

 

●

The performance obligation is part of a contract that has an original expected duration of one year or less, in accordance with ASC 606-10-50-14.

 

Deferred revenue represents the Company’s remaining performance obligations related to prepaid support and maintenance, all of which is expected to be recognized from one to five years.