The ONE Group Hospitality, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Revenue from contracts with customers

Revenue from contracts with customers

3 Months Ended

Mar. 31, 2020

Revenue From Contracts With Customer [Abstract]

Note 10 – Revenue from contracts with customers

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):


	March 31,		December 31,
	2020		2019
Receivables (1)	$	125	$	250
Deferred license revenue (2)	$	1,315	$	1,368
Deferred gift card and gift certificate revenue (3)	$	2,594	$	3,210
Konavore rewards program (4)	$	86	$	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 three months ended March 31, 2020 and 2019 are as follows (in thousands):


	March 31,		March 31,
	2020		2019
Revenue recognized from deferred license revenue	$	52	$	55
Revenue recognized from deferred gift card revenue	$	746	$	283

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


2020, nine months remaining	$	154
2021		206
2022		181
2023		169
2024		134
Thereafter		471
Total future estimated deferred license revenue	$	1,315