What was the current deferred revenue for Face Foundrie in 2023?
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 current deferred revenue as of December 31, 2023, was $447,000. Deferred revenue represents payments Face Foundrie has received for services or goods that have not yet been fully provided or delivered. In the case of Face Foundrie, this primarily relates to initial franchise fees that are allocated to pre-opening services.
This deferred revenue is classified into current and non-current portions, with the current portion representing revenue expected to be recognized within the next year. For a prospective franchisee, this indicates the amount of revenue Face Foundrie anticipates recognizing in the near term from existing franchise agreements.
The non-current deferred revenue for Face Foundrie as of December 31, 2023, was $1,786,704. This represents revenue that Face Foundrie expects to recognize beyond the next year. The total deferred revenue, which is the sum of the current and non-current portions, was $2,233,704 as of the same date. This provides insight into the future revenue stream Face Foundrie anticipates from its existing franchise agreements.