General form of registration statement for all companies including face-amount certificate companies

Customer Advances and Deferred Revenues

v2.4.0.8
Customer Advances and Deferred Revenues
 3 Months Ended 12 Months Ended
Mar. 31, 2014
Dec. 31, 2013
Customer Advances and Deferred Revenues [Abstract]    
Customer Advances and Deferred Revenues

5. Customer Deposits, Advances and Deferred Revenues

 

In connection with our device sales and research services, we often receive cash payments before our earnings process is complete. In these instances, we record the payments as customer deposits or customer advances until the device is shipped to the customer or in the case of research services until the earnings process or milestone is achieved.

 

As described in our revenue recognition policy for EksoÔ unit sales, revenues are deferred and recognized over the maintenance period. Accordingly, at the time of shipment the amount billed is recorded as deferred revenue. Also, at the time of shipment to the customer, the related inventory is reclassified to deferred cost of revenue where it is amortized to cost of revenue over the same period as the related revenue.

 

Customer deposits, advances, deferred revenues, and deferred unit costs consist of the following:

 

    March 31, 2014     December, 31, 2013  
             
Customer deposits and advances   $ 501,893     $ 443,436  
Deferred Ekso unit revenues     3,928,224       3,462,980  
Deferred service, leasing and software revenues     977,289       721,921  
Customer advances and deferred revenues     5,407,406       4,628,337  
Less current portion     (2,960,026 )     (2,419,226 )
Customer advances and deferred revenues, non-current   $ 2,447,380     $ 2,209,111  
                 
Deferred Ekso unit costs   $ 2,101,674     $ 1,571,897  
Less current portion     (974,405 )     (768,599 )
                 
Deferred cost of revenue, non-current   $ 1,127,269     $ 803,298  

 

6. Customer Advances and Deferred Revenues

 

In connection with its research services, the Company often receives cash payments before its earnings process is complete. In these instances, the Company records the payments as customer advances until the earnings process or milestone is achieved.

 

As described in its revenue recognition policy for EksoÔ unit sales, revenues are deferred and recognized over the expected maintenance period. Accordingly, at the time of shipment the amount billed is recorded as deferred revenue. Also, at the time of shipment to the customer, the related inventory is reclassified to deferred costs of revenue where it is amortized to cost of revenue over the same period as the related revenue.

 

Customer advances, deferred revenues, and deferred unit costs consist of the following:

 

    December 31,  
    2013     2012  
             
Customer advances and deposits   $ 443,436     $ 329,006  
Deferred Ekso unit revenues     3,462,980       2,928,411  
Deferred service and software revenues     721,921       207,296  
Customer advances and deferred revenues     4,628,337       3,464,713  
Less current portion     (2,419,226 )     (1,566,153 )
Customer advances and deferred revenues, non-current   $ 2,209,111     $ 1,898,560  
                 
Deferred Ekso unit costs   $ 1,571,897     $ 1,130,246  
Less current portion     (768,599 )     (436,483 )
                 
Deferred cost of revenue, non-current   $ 803,298     $ 693,763