Annual report pursuant to Section 13 and 15(d)

DEFERRED REVENUE

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DEFERRED REVENUE
 12 Months Ended
Dec. 31, 2023
Revenue from Contract with Customer [Abstract]  
DEFERRED REVENUE

8. DEFERRED REVENUE

 

The Company is the recipient of various private and governmental grants, rebates and marketing incentives. Reimbursements of periodic expenses are recognized as income when the related expense is incurred. Private and government grants and rebates related to EV charging stations and their installation are deferred and amortized in a manner consistent with the recognition of the related depreciation expense of the related asset over their useful lives.

 

Deferred revenue consisted of the following:

    2023     2022  
    December 31,  
    2023     2022  
Grant and other   $ 346     $ 6,516  
Prepaid network, charging and maintenance fees     25,729       9,314  
Total deferred revenue     26,075       15,830  
Deferred revenue, non-current portion     (12,462 )      (5,258 )
Current portion of deferred revenue   $ 13,613     $ 10,572  

 

It is anticipated that deferred revenue as of December 31, 2023 will be recognized as follows:

 

         

For the Year Ending

December 31,

   Revenue  
2024   $ 13,613  
2025     4,477  
2026     3,849  
2027     2,995  
2028     905  
Thereafter     236  
Total   $ 26,075  

 

 

BLINK CHARGING CO.

 

Notes to Consolidated Financial Statements

(in thousands, except for share and per share amounts)