Annual report [Section 13 and 15(d), not S-K Item 405]

Revenue Disclosures (Tables)

v3.25.0.1
Revenue Disclosures (Tables)
12 Months Ended
Dec. 31, 2024
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregation of Revenue
The following table shows the Company’s revenues disaggregated according to the timing of transfer of services:
December 31,
2024 2023
Revenue recognized at a point in time $ 43,211,429  $ 39,008,020 
Revenue recognized over time $ 8,685,176  $ 7,969,457 
Total Revenue
$ 51,896,605  $ 46,977,477 
Schedule of Rollforward of Accounts Receivable
Changes in the Company’s accounts receivable, net during the years ended December 31, 2024 and 2023 were as follows:
Accounts Receivable, Net
Balance at December 31, 2022 $ 2,388,163 
Cash received against accounts receivable included at the beginning of the year (2,170,108)
Net increase during the year ended December 31, 2023 2,362,534 
Balance at December 31, 2023 $ 2,580,589 
Cash received against accounts receivable included at the beginning of the year (2,387,577)
Net increase during the year ended December 31, 2024 2,614,262 
Allowance for credit losses (220,893)
Balance at December 31, 2024 $ 2,586,381 
Schedule of Rollforward in Contract Liabilities and Contract Assets
Changes in the Company’s contract liability for deferred franchise fees during the years ended December 31, 2024 and 2023 were as follows:
Deferred Revenue
short and long-term
Balance at December 31, 2022 $ 16,629,735 
Revenue recognized that was included in the contract liability at the beginning of the year (2,709,080)
Net increase during the year ended December 31, 2023 2,193,224 
Balance at December 31, 2023 $ 16,113,879 
Revenue recognized that was included in the contract liability at the beginning of the year (2,841,085)
Net increase during the year ended December 31, 2024 1,724,311 
Balance at December 31, 2024 $ 14,997,105 
The Company’s deferred franchise and development costs represent capitalized sales commissions. Changes during the years ended December 31, 2024 and 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 year (1,135,592)
Net increase during the year ended December 31, 2023 625,220 
Balance at December 31, 2023 $ 6,251,366 
Recognized as cost of revenue during the year (1,221,140)
Net increase during the year ended December 31, 2024 539,247 
Balance at December 31, 2024 $ 5,569,473 
Schedule of Estimated Revenue Related to Performance Obligations
The following table illustrates revenues expected to be recognized in the future related to performance obligations that were unsatisfied (or partially unsatisfied) as of December 31, 2024. The Company has elected to exclude short term contracts, sales and usage based royalties and any other variable consideration recognized on an “as invoiced” basis.
Contract liabilities expected to be recognized in
Amount
2025 $ 2,546,926 
2026 2,458,740 
2027 2,352,593 
2028 2,187,901 
2029 1,835,345 
Thereafter 3,615,600 
Total $ 14,997,105