Quarterly report pursuant to Section 13 or 15(d)

Revenue Disclosures (Tables)

v3.23.1
Revenue Disclosures (Tables)
 3 Months Ended
Mar. 31, 2023
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue
The following table shows the Company's revenues disaggregated according to the timing of transfer of services:
Three Months Ended March 31,
2023 2022
Revenue recognized at a point in time $ 26,336,390  $ 20,638,788 
Revenue recognized over time 2,113,908  1,799,750 
Balance at Total Revenue $ 28,450,298  $ 22,438,538 
Schedule of Changes in Contract Asset and Liability
Changes in the Company's contract liability for deferred franchise and regional development fees during the three months ended March 31, 2023 were as follows:
Deferred Revenue
short and long-term
Balance at December 31, 2022 $ 18,617,263 
Revenue recognized that was included in the contract liability at the beginning of the year (875,849)
Net increase during the three months ended March 31, 2023 920,356 
Balance at March 31, 2023 $ 18,661,770 
The Company's deferred franchise and development costs represent capitalized sales commissions. Changes during the three months ended March 31, 2023 were as follows:
Deferred Franchise and Development Costs
short and long-term
Balance at December 31, 2022 $ 6,761,738 
Recognized as cost of revenue during the three months ended March 31, 2023 (316,119)
Net increase during the three months ended March 31, 2023 292,442 
Balance at March 31, 2023 $ 6,738,061 
Schedule of Revenue Expected to be Recognized Related to Performance Obligations The following table illustrates estimated revenues expected to be recognized in the future related to performance obligations that were unsatisfied (or partially unsatisfied) as of March 31, 2023:
Contract liabilities expected to be recognized in Amount
2023 (remainder) $ 2,265,557 
2024 2,802,609 
2025 2,615,325 
2026 2,515,649 
2027 2,335,633 
Thereafter 6,126,997 
Total $ 18,661,770