Revenue Disclosures (Tables)
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3 Months Ended |
Mar. 31, 2025 |
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| Revenue from Contract with Customer [Abstract] |
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| Schedule of Disaggregation of Revenue |
The following table shows the Company’s revenues disaggregated according to the timing of transfer of services:
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Three Months Ended
March 31, |
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2025 |
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2024 |
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| Revenue recognized at a point in time |
$ |
10,787,104 |
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$ |
10,142,066 |
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| Revenue recognized over time |
2,290,486 |
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2,042,650 |
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| Total Revenue |
$ |
13,077,590 |
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$ |
12,184,716 |
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| Schedule of Rollforward of Accounts Receivable |
Changes in the Company’s accounts receivable, net during the three months ended March 31, 2025 were as follows:
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Accounts Receivable, Net |
| Balance at December 31, 2023 |
$ |
2,580,589 |
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| Balance at December 31, 2024 |
$ |
2,586,381 |
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| Cash received against accounts receivable included at the beginning of the year |
(2,154,256) |
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| Net increase during the three months ended March 31, 2025 |
2,537,972 |
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| Balance at March 31, 2025 |
$ |
2,970,097 |
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| Schedule of Rollforward of Contract Liabilities Contract Assets |
Changes in the Company’s contract liability for deferred franchise fees during the three months ended March 31, 2025 were as follows:
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Deferred Revenue
short and long-term |
| Balance at December 31, 2023 |
$ |
16,113,879 |
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| Balance at December 31, 2024 |
$ |
14,997,105 |
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| Revenue recognized that was included in the contract liability at the beginning of the year |
(845,978) |
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| Net increase during the three months ended March 31, 2025 |
311,285 |
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| Balance at March 31, 2025 |
$ |
14,462,412 |
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The Company’s deferred franchise and development costs represent capitalized sales commissions. Changes during the three months ended March 31, 2025 were as follows:
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Deferred Franchise and Development Costs
short and long-term |
| Balance at December 31, 2023 |
$ |
6,251,366 |
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| Balance at December 31, 2024 |
$ |
5,569,473 |
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| Cost of revenue recognized that was included in the contract asset at the beginning of the year |
(363,559) |
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| Net increase during the three months ended March 31, 2025 |
108,574 |
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| Balance at March 31, 2025 |
$ |
5,314,488 |
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| Schedule of Estimated Revenue 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, 2025:
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| Contract liabilities expected to be recognized in |
Amount |
| 2025 (remainder) |
$ |
1,912,155 |
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| 2026 |
2,464,407 |
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| 2027 |
2,358,259 |
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| 2028 |
2,193,584 |
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| 2029 |
1,839,251 |
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| Thereafter |
3,694,756 |
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| Total |
$ |
14,462,412 |
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