SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

3 Months Ended

Mar. 31, 2025

Contract assets and deferred revenues consist of the following as of March 31, 2025 and December 31, 2024:


	Contract Assets										Contract Liability
		Costs of obtaining contracts			Unbilled revenue			Total			Deferred Revenue
Balance at January 1, 2024	$	107,332		$	2,543,477		$	2,650,809		$	2,225,009
Beginning deferred revenue balance recognized during the period		—			—			—			(1,975,009	)
Net change due to acquisition		—			—			—			2,059,560
Net change due to timing of billings, payments and recognition		(44,882	)		(19,215	)		(64,097	)		2,178,126
Balance at December 31, 2024		62,450			2,524,262			2,586,712			4,487,686
Beginning deferred revenue balance recognized during the period		—			—			—			(2,723,593	)
Net change due to timing of billings, payments and recognition		70,596			2,091			72,687			3,856,724
Balance at March 31, 2025	$	133,046		$	2,526,353		$	2,659,399		$	5,620,817

The transaction price allocated to remaining performance obligations consisted of the following:

		March 31, 2025		December 31, 2024
Estimated next twelve months	$	21,664,682	$	20,550,004
Thereafter		12,944,675		13,397,200
Total	$	34,609,357	$	33,947,204

Forian Inc. 10-Q