Company: ACCS
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0000843006-25-000012
Chunk: 18

Company: ACCESS Newswire Inc.
Filing Date: 2025-03-25
Form: 10-K
Item: Item 8
Chunk 18
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 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 use the practical expedient allowing the recognition of incremental costs of obtaining a contract as an expense when incurred. The Company has considered historical renewal rates, expectations of future renewals and economic factors in making these determinations. Fixed Assets                  Fixed assets are recorded at cost and depreciated over the estimated useful lives of the assets using principally the straight-line method. When items are retired or otherwise disposed of, income is charged or credited for the difference between net book value and proceeds realized thereon. Ordinary maintenance and repairs are charged to expense as incurred, and replacements and betterments are capitalized. The range of estimated useful lives used to calculate depreciation for principal items of property and equipment are as follow: Asset Category Depreciation / Amortization PeriodComputer equipment 3 yearsFurniture & equipment 3 to 7