Annual report pursuant to Section 13 and 15(d)

DEFERRED REVENUE

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DEFERRED REVENUE
 12 Months Ended
Dec. 31, 2022
Revenue from Contract with Customer [Abstract]  
DEFERRED REVENUE

10. 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:

  

                 
    December 31,  
    2022     2021  
Grant and other   $ 6,516     $ 339  
Prepaid network, charging and maintenance fees   9,314     2,647  
Total deferred revenue     15,830       2,986  
Deferred revenue, non-current portion     (5,258 )     (128 )
Current portion of deferred revenue   $ 10,572     $ 2,858  

 

It is anticipated that deferred revenue as of December 31, 2022 will be recognized as follows:

  

For the Year Ending      
December 31,   Revenue  
2023   $ 10,572  
2024     1,228  
2025     220  
2026     449  
2027     393  
Thereafter     2,968  
Total   $ 15,830  

 

 

BLINK CHARGING CO.

 

Notes to Consolidated Financial Statements

(in thousands except for share and per share amounts)