Quarterly report pursuant to Section 13 or 15(d)

Customer Deposits, Advances and Deferred Revenues

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Customer Deposits, Advances and Deferred Revenues
 6 Months Ended
Jun. 30, 2014
Customer Deposits, Advances and Deferred Revenues [Abstract]  
Customer Deposits, 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:

 

    June 30, 
2014		     December, 31,
2013		  
             
Customer deposits and advances   $ 681,873     $ 443,436  
Deferred Ekso unit revenues     4,414,996       3,462,980  
Deferred service, leasing and software revenues     1,277,175       721,921  
Customer advances and deferred revenues     6,374,044       4,628,337  
Less current portion     (3,570,689 )     (2,419,226 )
Customer advances and deferred revenues, non-current   $ 2,803,355     $ 2,209,111  
                 
Deferred Ekso unit costs   $ 2,566,198     $ 1,571,897  
Less current portion     (1,169,000 )     (768,599 )
                 
Deferred cost of revenue, non-current   $ 1,397,198     $ 803,298