What was the balance of deferred revenue for Bft as of December 31, 2024?
Bft Franchise · 2025 FDDAnswer from 2025 FDD Document
statements.
- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control. Accordingly, no such opinion is expressed.
- Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements.
- Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about the Company's ability to continue as a going concern for a reasonable period of time.
We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control-related matters that we identified during the audit.
March 14, 2025
XPOF ASSETCO, LLC CONSOLIDATED BALANCE SHEETS
(amounts in thousands)
| December 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Assets | ||
| Current Assets: | ||
| Cash and cash equivalents | $ 8,593 | $ 8,000 |
| Ac |
Source: Item 23 — RECEIPTS (FDD pages 79–265)
What This Means (2025 FDD)
According to Bft's 2025 Franchise Disclosure Document, the balance of deferred revenue as of December 31, 2024, was detailed in two parts: a current portion and a non-current portion. The current portion of deferred revenue was $14,307, while the non-current portion of deferred revenue amounted to $96,065.
Combining these two figures, the total deferred revenue for Bft as of December 31, 2024, was $110,372 ($14,307 + $96,065). Deferred revenue represents payments Bft has received for goods or services that have not yet been fully earned. This is a common accounting practice, especially in franchise systems where initial franchise fees or ongoing services are paid in advance.
For a prospective Bft franchisee, understanding deferred revenue is crucial because it reflects the financial obligations Bft has to its customers or franchisees. A significant deferred revenue balance can indicate future service obligations. Monitoring these figures can provide insights into the company's financial stability and its ability to meet future obligations.