What was the amount of deferred revenue for Face Foundrie in 2022?
Face_Foundrie Franchise · 2025 FDDAnswer from 2025 FDD Document
r 31, 2023, and 2022 were $30,000 and $34,000, respectively and for all years reported are classified as current. There were no deferred contract costs as of December 31, 2024.
The Company has estimated the following current and non-current portions of deferred revenue as of December 31, 2024,
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 73)
What This Means (2025 FDD)
According to Face Foundrie's 2025 Franchise Disclosure Document, the company had both current and non-current deferred revenue. Deferred revenue represents payments Face Foundrie has received for goods or services that have not yet been fully earned. This commonly occurs with franchise fees, where the initial fee is recognized over the term of the franchise agreement as services are provided to the franchisee. Understanding deferred revenue is important for assessing the company's financial obligations and future revenue recognition.
As of December 31, 2022, Face Foundrie's current deferred revenue was $131,147 and the non-current deferred revenue was $1,637,657. The current portion represents revenue expected to be recognized within the next year, while the non-current portion is for periods beyond one year.
The total deferred revenue for Face Foundrie as of December 31, 2022, was $1,768,804. This figure is the sum of the current and non-current deferred revenue. Monitoring these deferred revenue balances can help a prospective franchisee understand the financial dynamics of Face Foundrie and how revenue is recognized over time.