CONTRACTS IN PROGRESS |
9 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jul. 31, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| CONTRACTS IN PROGRESS |
Note 8 – CONTRACTS IN PROGRESS
Unbilled receivables represent revenue recognized for performance obligations satisfied for which the Company has not yet billed the customer as of the balance sheet date. These amounts are presented as Unbilled Receivables in the consolidated balance sheets and were $3,260,065 and $2,988,779 as of July 31, 2026 and October 31, 2025, respectively.
Deferred revenue consists primarily of customer payments received in advance of the Company’s satisfaction of performance obligations, including the future delivery of products and services, technical support services, warranty obligations, and Through Life Support (“TLS”) services. Total deferred revenue was $1,865,668 and $1,781,876 as of July 31, 2026 and October 31, 2025, respectively.
Certain equipment sales include warranty and TLS obligations. Revenue associated with these obligations is deferred and recognized over the period during which the Company is required to provide the related services. Standard warranty obligations are generally recognized over a twelve-month period, while TLS arrangements are generally recognized over periods of 24, 36, or 60 months, depending on the terms of the underlying contract.
CODA OCTOPUS GROUP, INC. Notes to the Unaudited Consolidated Financial Statements July 31, 2026 and October 31, 2025
Note 8 – CONTRACTS IN PROGRESS (Continued)
Current deferred revenue includes customer payments received in advance of the delivery of products or services, technical support services expected to be provided within twelve months, warranty obligations expected to be satisfied within twelve months, and the current portion of TLS arrangements. Current deferred revenue was $1,829,012 and $1,722,796 as of July 31, 2026, and October 31, 2025, respectively.
Schedule of Deferred Revenue:
Non-current deferred revenue consists primarily of customer prepaid TLS services and other performance obligations that are expected to be satisfied more than twelve months from the balance sheet date. Non-current deferred revenue was $36,656 and $59,080 as of July 31, 2026 and October 31, 2025, respectively.
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