What was the amount of the deferred revenue, non-current, for Kidokinetics in 2022?
Kidokinetics Franchise · 2024 FDDAnswer from 2024 FDD Document
23, 2022, and 2021
| 2023 | 2022 | 2021 | ||||
|---|---|---|---|---|---|---|
| Assets | ||||||
| Current assets | ||||||
| Cash and cash equivalents | $ | 76,964 | $ | 32,500 | $ | 40,556 |
| Accounts receivable | 446,951 | 498 | - | |||
| Deferred contract costs, current | 340,727 | 326,228 | - | |||
| Total current assets | 864,642 | 359,226 | 40,556 | |||
| Non-current assets | ||||||
| Leasehold improvements, net | 36,727 | 48,127 | 55,087 | |||
| Intangible assets, net | 25,107 | 50,553 | 43,554 | |||
| Right of use asset | 24,593 | 81,087 | - | |||
| Deferred contract costs, non-current | 1,173,255 | 282,706 | - | |||
| Other non-current assets | 9,600 | 9,600 | 9,600 | |||
| Total non-current assets | 1,269,282 | 472,073 | 108,241 | |||
| Total assets | $ | 2,133,924 | $ | 831,299 | $ | 148,797 |
| Liabilities and Members' Equity (Deficit) | ||||||
| Current liabilities | ||||||
| S | 748,939 | $ | 354,239 | S | 68,939 | |
| Accounts payable | Þ | 138,810 | Ф | 41,609 | $ | 08,939 |
| Accrued expenses Credit card liability | 159,035 | 206,381 | 47,806 | |||
| Loans from member | 34,439 | 31,092 | 29,594 | |||
| Lines of credit | 243,821 , | 31,092 60.041 | 29,394 - | |||
| Note payable, current | 13,158 | 60,941 | - | |||
| Operating lease liability, current | 25,318 | 57,509 | - | |||
| Deferred revenue, current | 506,073 | _ | 595,065 | _ | 146 220 | |
| Total current liabilities Non-current liabilities | 1,869,593 16.042 | _ | 1,346,836 | 146,339 | ||
| Note payable, non-current | 16,842 | 25 210 | - | |||
| Operating lease liability, non-current | 1 044 262 | 25,318 | - | |||
| Deferred revenue, non-current | 1,844,262 | _ | 289,713 | _ | ||
| Total non-current liabilities | 1,861,104 | _ | 315,031 | 146 220 | ||
| Total liabilities | _ | 3,730,697 | _ | 1,661,867 | 146,339 | |
| Members' equity (deficit) | ||||||
| Members' interests | 406,386 | 406,386 | 427,077 | |||
| Retained earnings (accumulated deficit) | (2,003,159) | (1,236,954) | (424,619) | |||
| Total members' equity (deficit) | (1,596,773) | (830,568) | 2,458 | |||
| Total liabilities and members' equity (deficit) | $ | 2,133,924 | $ | 831, |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 59)
What This Means (2024 FDD)
According to Kidokinetics's 2024 Franchise Disclosure Document, the company had $289,713 in deferred revenue, non-current, as of December 31, 2022. Deferred revenue represents payments Kidokinetics has received for services or products that have not yet been fully delivered or earned. In the case of Kidokinetics, this primarily relates to initial franchise fees that are recognized over the life of the franchise agreement.
The deferred revenue is split into current and non-current portions, with the non-current portion representing revenue that will be recognized beyond the next 12 months. For a prospective franchisee, this figure provides insight into how Kidokinetics recognizes revenue from its franchise agreements.
It also demonstrates the long-term financial obligations Kidokinetics has to its franchisees. Understanding the breakdown of current and non-current deferred revenue can help a franchisee assess the financial stability and revenue recognition practices of Kidokinetics. This information, in conjunction with other financial statement data, can aid in making an informed investment decision.