v3.25.3
Deferred Revenue
 6 Months Ended 12 Months Ended
Jun. 30, 2025
Dec. 31, 2024
Deferred Revenue    
Deferred Revenue

12. Deferred Revenue

 

Deferred revenue represents amounts that have been collected in advance of revenue recognition and is recognized as revenue when transfer of control to customers has occurred or services have been provided. The deferred revenue balance does not represent the total contract value of annual or multi-year, non-cancelable revenue agreements. Differences between the revenue recognized per the below schedule, and the revenue recognized per the condensed consolidated statement of operations, reflect amounts not recognized through the deferred revenue process, and which have been determined to be insignificant. For the six months ended June 30, 2025 and the year ended December 31, 2024, the Company recognized $2,867,837 and $1,214,096 in revenue that was included in the prior year deferred revenue balance, respectively.

The change in total deferred revenue was as follows for the periods indicated:

 

   Six Months
Ended		   Year
Ended		 
   June 30, 2025   December 31, 2024 
Deferred revenue, beginning of period  $3,934,627   $1,214,096 
Billings   4,628,355    4,362,730 
Revenue recognized (prior year deferred revenue)   (2,867,837)   (1,214,096)
Revenue recognized (current year deferred revenue)   (1,923,747)   (3,091,333)
OpenReel deferred revenue - short-term - previously recognized at acquisition   —    2,663,230 
Vidello deferred revenue - short-term   324,449    — 
Deferred revenue - short-term, end of period   4,095,847    3,934,627 
OpenReel deferred revenue - long-term   115,725    — 
Deferred revenue - short-term and long-term, end of period  $4,211,572   $3,934,627 

 

13. Deferred Revenue

 

Deferred revenue represents amounts that have been collected in advance of revenue recognition and is recognized as revenue when transfer of control to customers has occurred or services have been provided. The deferred revenue balance does not represent the total contract value of annual or multi-year, non-cancelable revenue agreements. Differences between the revenue recognized per the below schedule, and the revenue recognized per the consolidated statement of operations, reflect amounts not recognized through the deferred revenue process, and which have been determined to be insignificant. For the years ended December 31, 2024 and 2023, the Company recognized $1,214,096 and $930,436 in revenue that was included in the prior year deferred revenue balance, respectively.

 

The change in total deferred revenue was as follows for the periods indicated:

 

   Year Ended   Year Ended 
   December 31, 2024   December 31, 2023 
Deferred revenue, beginning of period  $1,214,096   $930,436 
Billings   4,362,730    4,781,924 
Revenue recognized (prior year deferred revenue)   (1,214,096)   (930,436)
Revenue recognized (current year deferred revenue)   (3,091,333)   (3,567,828)
OpenReel deferred revenue - short-term   2,663,230    — 
Deferred revenue - short-term, end of period   3,934,627    1,214,096 
OpenReel deferred revenue - long-term   117,643    — 
Deferred revenue - short-term and long-term, end of period  $4,052,270   $1,214,096