v3.26.1
Deferred Revenue
 3 Months Ended
Mar. 31, 2026
Deferred Revenue [Abstract]  
DEFERRED REVENUE

NOTE 12 – DEFERRED REVENUE

 

Contract liabilities (deferred revenue) consist of advance billings and billing in excess of revenues recognized. Deferred revenue also includes the amount for which services have been rendered but other conditions of revenue recognition are not met, for example, where the Company does not have an enforceable contract.

 

The revenues attributable to the warranty is recognized over the period to which it relates. During the three months ended March 31, 2026, Company had sold eighteen surgical robotic systems. The revenues attributable to warranty for the agreed warranty period in respect of each of the sales contract is deferred for recognition over the period to which it relates.

 

In case of systems sold on a deferred payment basis, the present value of the invoiced system sales, realizable over the deferred payment period, is recognized as system sales. The difference between the invoiced amount and its present value is adjusted (reduced) in the accounts receivable balance. This difference is recorded as interest income under other income, with a corresponding impact on accounts receivable over the collection period of contract. The Company recorded $261,878 and $79,236 as interest income on account of deferred financing component during the period ended March 31, 2026 and March 31, 2025 respectively.

 

   March 31,
2026		   December 31,
2025		 
         
Deferred revenue- beginning of period   10,406,493    6,452,555 
Additions   1,443,770    6,472,933 
Net changes in liability for pre-existing contracts   11,850,263    12,925,488 
Revenue recognized for system sales   
-
    407,118 
Revenue recognized for instrument sales   408,870    1,233,482 
Revenue recognized for warranty sales   357,479    878,395 
Deferred revenue- end of period   11,083,914    10,406,493 
           
Deferred revenue expected to be recognized in:          
One year or less   3,582,631    3,266,686 
More than one year   7,501,283    7,139,807 
    11,083,914    10,406,493 

For the three months ended March 31, 2026 and 2025:

 

The following table disaggregates our revenue by major source as of:

 

   March 31,
2026		   March 31,
2025		 
         
System sales   9,575,370    4,502,482 
Instruments sale   1,151,228    477,208 
Warranty sale   357,686    122,504 
Lease income   17,082    18,416 
Total revenue   11,101,366    5,120,610 

 

Revenues for three months ended March 31, 2026 and 2025 by geographic region (determined based upon customer domicile), were as follows:

 

   March 31,
2026		   March 31,
2025		 
         
India   10,952,543    4,188,394 
South America   74,105    51,884 
Philippines   35,702    
-
 
Indonesia   24,222    872,977 
UAE   7,984    7,355 
Nepal   6,810    
-
 
    11,101,366    5,120,610