What was the amount of deferred revenue for Basecamp Fitness in 2024?
Basecamp_Fitness Franchise · 2025 FDDAnswer from 2025 FDD Document
| Variable Funding Notes | | 15,000 | - | | Less: Unamortized financing costs | | (15,961) | (5,039) | | Long-term debt, net of financing costs | | 962,827 | 478,749 | | Less: Current maturities | | (7,238) | (3,638) | | Long-term debt, net of current maturities | $ | 955,589 | $ 475,111 | | and financing costs | | | |
The annual principal payment requirements for long-term debt, subject to certain financial conditions set forth in the Indenture, are as follows:
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Source: Item 23 — RECEIPTS (FDD pages 62–248)
What This Means (2025 FDD)
According to Basecamp Fitness's 2025 Franchise Disclosure Document, the deferred revenue as of December 31, 2024, was $77,151. This figure represents revenue that Basecamp Fitness has received but not yet earned, meaning the services or products related to that revenue have not yet been fully provided.
The document indicates that the increase in deferred revenue from 2023 to 2024 resulted from a contribution of $27,689 of deferred revenue into the Purpose Brands Securitization Entities on April 2, 2024, and the net difference between new sales and the standard or accelerated recognition of revenue. This suggests that Basecamp Fitness experienced growth in sales and changes in how revenue was recognized during that period.
For a prospective franchisee, understanding deferred revenue is crucial because it reflects the financial health and stability of Basecamp Fitness. It also provides insight into how the company manages its revenue recognition and obligations to customers. The FDD states that Basecamp Fitness expects to recognize approximately $17,401 of deferred revenue in 2025, with the remainder in subsequent years, offering a glimpse into the company's future revenue projections.