What was the amount of deferred revenue for Clear Pest Pros as of December 31, 2023?
Clear_Pest_Pros Franchise · 2025 FDDAnswer from 2025 FDD Document
,869) |
Notes to Consolidated Financial Statements (dollars in thousands)
The details of the net deferred tax assets (liabilities) are as follows:
| December 31, | 2024 | 2023 | (as restated) | |----------------------
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 67)
What This Means (2025 FDD)
According to Clear Pest Pros's 2025 Franchise Disclosure Document, the deferred revenue as of December 31, 2023, was $1,259. The deferred revenue is a liability on the balance sheet, representing payments Clear Pest Pros has received for services or products that have not yet been fully earned or delivered.
For a prospective Clear Pest Pros franchisee, understanding deferred revenue is crucial because it reflects the company's future obligations to provide services or products for which it has already been paid. A higher deferred revenue balance could indicate strong future revenue streams, but also represents a commitment that Clear Pest Pros must fulfill.
It is important to note that the 2023 figures have been restated, suggesting there were adjustments made to the initial financial reporting. Franchisees should inquire about the reasons for these restatements to fully understand the financial history and current standing of Clear Pest Pros.