Annual report pursuant to Section 13 and 15(d)

Deferred Revenues

v3.3.1.900
Deferred Revenues
 12 Months Ended
Dec. 31, 2015
Deferred Revenue Disclosure [Abstract]  
Deferred Revenues
8. Deferred Revenues
 
In connection with the Company’s medical device sales and research services, the Company often receives cash payments before its earnings process is complete. In these instances, the Company records the payments as customer deposits until a device is shipped to the customer, or as customer advances in the case of research services until the earnings process is achieved. In both cases, the cash received is recorded as a component of deferred revenue.
 
Revenue from the Company’s medical device sales is deferred and recognized over the maintenance period. Accordingly, at the time of shipment to the customer the amount billed is recorded as deferred revenue. Also, at the time of shipment, 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.
 
Deferred revenues and deferred cost of revenues consisted of the following:
 
 
 
December 31,
 
 
 
2015
 
2014
 
Customer deposits and advances
 
$
48
 
$
105
 
Deferred Ekso medical device revenues
 
 
6,167
 
 
5,327
 
Deferred service and leasing revenues
 
 
2,358
 
 
1,875
 
Deferred revenues
 
 
8,573
 
 
7,307
 
Less current portion
 
 
(3,960)
 
 
(3,412)
 
Deferred revenues, non-current
 
$
4,613
 
$
3,895
 
Deferred Ekso medical device costs
 
$
4,590
 
$
3,568
 
Less current portion
 
 
(2,088)
 
 
(1,551)
 
Deferred cost of revenue, non-current
 
$
2,502
 
$
2,017