Annual report pursuant to Section 13 and 15(d)

Revenue recognition

v3.20.4
Revenue recognition
12 Months Ended
Dec. 31, 2020
Revenue recognition  
Revenue recognition

Note 12 – Revenue recognition

The following table provides information about contract receivables and liabilities from contracts with customers, which include deferred license revenue, deferred gift card revenue and the Konavore rewards program (in thousands):

 

 

 

 

 

 

 

 

    

December 31, 

    

December 31, 

 

 

2020

 

2019

Receivables (1)

 

$

125

 

$

250

Deferred license revenue (2)

 

 

1,160

 

 

1,368

Deferred gift card and gift certificate revenue (3)

 

 

1,945

 

 

3,210

Konavore rewards program (4)

 

$

102

 

$

84


(1)

Receivables are included in accounts receivable on the consolidated balance sheets.

(2)

Includes the current and long-term portion of deferred license revenue.

(3)

Deferred gift card revenue is included in deferred gift card revenue and other on the consolidated balance sheets.

(4)

Konavore rewards program is included in accrued expenses on the consolidated balance sheets.

 

 

Significant changes in deferred license revenue and deferred gift card revenue for the years ended December 31, 2020 and 2019 are as follows (in thousands):

 

 

 

 

 

 

 

 

    

December 31, 

    

December 31, 

 

 

2020

 

2019

Revenue recognized from deferred license revenue

 

$

206

 

$

483

Revenue recognized from deferred gift card revenue

 

 

1,904

 

 

2,145

Deferred gift card revenue acquired in Kona Grill acquisition

 

$

 —

 

$

2,277

 

As of December 31, 2020, the estimated deferred license revenue to be recognized in the future related to performance obligations that are unsatisfied as of December 31, 2020 were as follows for each year ending (in thousands):

 

 

 

 

2021

    

$

207

2022

 

 

180

2023

 

 

169

2024

 

 

134

2025

 

 

133

Thereafter

 

 

337

Total future estimated deferred license revenue

 

$

1,160