NOTE 11 – Disaggregation of Revenue

 

Revenue was comprised of the following for the years ended December 31, 2025 and 2024, respectively:

 

   2025   2024 
         
Revenue-America  $147,116,306   $144,760,995 
Revenue-International   6,943,050    4,947,516 
Revenue-Other   841,029    1,148,935 
Sales returns   (11,251,836)   (10,840,277)
Discounts   (1,208,313)   (1,764,308)
Total  $142,440,236   $138,252,861 

 

Historical Timeline

Fiscal YearFiled
2025Mar 24, 2026Showing above
2024Mar 27, 2025
2023Mar 26, 2024
2022Mar 31, 2023
2021Apr 1, 2022

About Revenue Disclosures

Revenue disclosures under ASC 606 explain how a company identifies performance obligations, allocates transaction prices, and determines when revenue is recognized. This section is essential for understanding whether reported revenue reflects genuine economic activity or aggressive accounting choices. Analysts examine the mix of point-in-time versus over-time recognition, which directly affects revenue timing and comparability.

Key signals: rising contract liabilities (deferred revenue) suggest strong future revenue visibility, while declining contract assets may indicate slowing project milestones. Watch for variable consideration estimates — rebates, returns, and performance bonuses that require management judgment. Significant changes in disaggregated revenue by geography or product line can reveal shifting business mix before it appears in headline numbers. Compare revenue growth against contract liability growth to assess sustainability, and scrutinize any changes in the timing of recognition that coincide with earnings pressure.