Annual report pursuant to Section 13 and 15(d)

Revenue recognition

v3.22.4
Revenue recognition
12 Months Ended
Dec. 31, 2022
Revenue recognition  
Revenue recognition

Note 8 – 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 and deposits from customers for future events (in thousands):

    

December 31, 

    

December 31, 

2022

2021

Deferred license revenue (1)

 

297

 

388

Deferred gift card revenue (2)

1,680

1,769

Advanced party deposits (2)

435

260

Konavore rewards program (3)

163

136

(1) Includes the current and long-term portion of deferred license revenue which are included in other current liabilities and other long-term liabilities on the consolidated balance sheets.
(2) Deferred gift card revenue and advance party deposits on goods and services yet to be provided are included in deferred gift card revenue and other on the consolidated balance sheets.
(3) 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, 2022 and 2021 are as follows (in thousands):

    

December 31, 

    

December 31, 

2022

2021

Revenue recognized from deferred license revenue

$

79

$

164

Revenue recognized from deferred gift card revenue

 

1,295

 

1,214

Revenue recognized from advanced party deposits

248

60

As of December 31, 2022, the estimated deferred license revenue to be recognized in the future related to performance obligations that are unsatisfied as of December 31,2022 were as follows for each year ending (in thousands):

2023

    

$

78

2024

 

45

2025

 

44

2026

 

37

2027

 

34

Thereafter

 

59

Total future estimated deferred license revenue

$

297