Company: ACTG
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0000934549-25-000042
Chunk: 17

Company: ACACIA RESEARCH CORP
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 17
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 taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue producing transaction and collected from a customer (e.g., sales, use, value added, and some excise taxes) are excluded from revenue.Printronix offers printer-maintenance services through service agreements that customers may purchase separately from the printer. These agreements commence upon expiration of the standard warranty period. Printronix provides the point-of-customer-contact, dispatches calls and sells the parts used for printer repairs to service providers. Printronix contracts third parties to perform the on-site repair services at the time of sale which covers the period of service at a set amount. The maintenance service agreements are separately priced at a stand-alone value. For those transactions in which maintenance service agreements are purchased concurrently with the purchase of printers, the revenue is deferred based on the selling price, which approximates the stand-alone value for separately sold maintenance services agreements. Revenue from maintenance service contracts are recognized on a straight-line basis over the period of each individual contract, which is consistent with the pattern in which the benefit is consumed by the customer.Printronix’s net revenues were comprised of the following for the periods presented:Three Months EndedJune 30,Six Months EndedJune 30,2025202420252024(In thousands)Printers, consumables and parts$5,795 $5,451 $12,698 $13,529 Services795 884 1,568 1,647 Total$6,590 $6,335 $14,266 $15,176 Refer to Note 19 for additional information regarding net sales to customers by geographic region.Deferred revenue in the consolidated balance sheets represents a contract liability under ASC 606 and consists of payments and billings in advance of the performance. Printronix recognized $570,000 and $454,000 in revenue that was previously included in the beginning balance of deferred revenue during the three months ended June 30, 2025 and 2024, respectively. Printronix recognized $732,000 and $1.0 million in revenue that was previously included in the beginning balance of deferred revenue during the six months ended June 30, 2025 and 2024, respectively.Printronix’s payment terms vary by the type and location of its customers and the products, solutions or services offered. The time between invoicing and when payment is due is not significant. In instances where the timing of revenue recognition differs from the timing