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

9 Months Ended

Sep. 30, 2020

Revenue from contracts with customers

Note 9 – 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):


	September 30,		December 31,
	2020		2019
Receivables (1)	$	125	$	250
Deferred license revenue (2)	$	1,212	$	1,368
Deferred gift card and gift certificate revenue (3)	$	2,244	$	3,210
Konavore rewards program (4)	$	95	$	84

(1)

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

(4)

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

Significant changes in deferred license revenue and deferred gift card revenue for the nine months ended September 30, 2020 and 2019 are as follows (in thousands):


	September 30,		September 30,
	2020		2019
Revenue recognized from deferred license revenue	$	154	$	148
Revenue recognized from deferred gift card revenue	$	1,173	$	707

The estimated deferred license revenue to be recognized in the future related to performance obligations that are unsatisfied as of September 30, 2020 were as follows for each year ending (in thousands):


2020, three months remaining	$	52
2021		207
2022		180
2023		169
2024		134
Thereafter		470
Total future estimated deferred license revenue	$	1,212