| REVENUE, DEFERRED REVENUE AND ACCOUNTS RECEIVABLE |
| 6. |
REVENUE, DEFERRED
REVENUE AND ACCOUNTS RECEIVABLE |
| |
|
| |
Deferred Revenue |
| |
|
| |
Changes in deferred
revenue, which relate to unfulfilled e-commerce orders and amounts to be recognized under extended 3-year service warranties,
for the year ended November 30, 2020 and 2019 are summarized below. The associated performance obligations are expected to
be satisfied during the year ended November 30, 2021. |
| |
|
Deferred
Revenue |
|
| Deferred revenue
balance, November 30, 2018 |
|
$ |
— |
|
| Net
additions to deferred revenue |
|
|
10,842 |
|
| Deferred revenue
balance, November 30, 2019 |
|
|
10,842 |
|
| Net additions to
deferred revenue |
|
|
18,825,995 |
|
| Reductions
in deferred revenue for revenue recognized during the fiscal year |
|
|
(13,934,750 |
) |
| Deferred
revenue balance, November 30, 2020 |
|
$ |
4,902,087 |
|
Accounts
receivable at November 30, 2020 primarily relates to sales of the new Byrna® HD to several large distributors.
Revenue
Disaggregation
The
following table presents disaggregation of the Company’s revenue by product type and distribution channel:
| |
|
Years
Ended
November 30, |
|
| Product
type |
|
2020 |
|
|
2019 |
|
| Byrna®
HD |
|
$ |
16,322,482 |
|
|
$ |
850,404 |
|
| 40mm |
|
|
243,813 |
|
|
|
74,015 |
|
| Total |
|
$ |
16,566,295 |
|
|
$ |
924,419 |
|
| |
|
Years
Ended
November 30, |
|
| Distribution
channel |
|
2020 |
|
|
2019 |
|
| Wholesale
(dealer/distributors and large end-users) |
|
$ |
2,952,825 |
|
|
$ |
602,838 |
|
| E-commerce |
|
|
13,613,470 |
|
|
|
321,581 |
|
| Total |
|
$ |
16,566,295 |
|
|
$ |
924,419 |
|
|