Company: ACCS
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0000843006-25-000012
Chunk: 100

Company: ACCESS Newswire Inc.
Filing Date: 2025-03-25
Form: 10-K
Item: Item 1
Chunk 100
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 remaining price to that subscription or service. The Company reviews standalone selling prices, at least annually, and updates these estimates if necessary. 

 F-12Table of Contents

The Company invoices its customers based on the billing schedules designated in its contracts, typically upfront on either a monthly, quarterly or annual basis or per transaction at the completion of the performance obligation. Deferred revenue for the periods presented was primarily related to press release packages which have been prepaid, however the releases have not yet been disseminated, as well as, subscription and service contracts, which are billed upfront, quarterly, or annually, however the revenue has not yet been recognized. The associated deferred revenue is generally recognized as releases are disseminated for press release packages and ratably over the billing period for subscriptions. Deferred revenue as of December 31, 2024 and December 31, 2023, was $4,743,000 and $4,750,000, respectively, and is expected to be recognized within one year. Approximately $200,000 of the deferred revenue balance as of December 31, 2024, relates to contracts for press release packages with an expiration date after December 31, 2025, however the customer may use the balance within one year. As of January 1, 2023, deferred revenue was $4,788,000. Revenue recognized for the years ended December 31, 2024 and 2023, which was included in the deferred revenue balance at the beginning of each reporting period, was approximately $4,750,000 and $4,788,000, respectively. Accounts receivable, net of allowance for credit losses, related to contracts with customers was $3,351,000 and $3,005,000 as of December 31, 2024 and 2023, respectively. As of January 1, 2023, accounts receivable, net of allowance for credit losses was $2,130,000. Since substantially all the contracts have terms of one year or less, the Company has elected to use the practical expedient regarding the existence of a significant financing. Costs to obtain contracts with customers consist primarily of sales commissions. As of December 31, 2024 and 2023, the Company has capitalized $69,000 and $73,000, respectively, of costs to obtain contracts that are expected to be amortized over more than one year. For contract costs expected to be amortized in less than one year, the Company has elected to