XML 36 R25.htm IDEA: XBRL DOCUMENT v3.24.0.1
Revenue Recognition (Tables)
12 Months Ended
Dec. 31, 2023
Revenue from Contract with Customer [Abstract]  
Schedule of Remaining Performance Obligations

The following table includes estimated revenue expected to be recognized in the future related to performance obligations that were unsatisfied or partially unsatisfied as of December 31, 2023:

 

(In thousands)

 

Less than 1 year

 

 

1 to 2 years

 

 

Beyond 2 years

 

 

Total

 

Performance obligations

 

$

58,983

 

 

$

2,427

 

 

$

2,486

 

 

$

63,896

 

 

Schedule of Contract Balances

The following table reflects the contract balances:

 

(In thousands)

 

Balance Sheet Location

 

December 31, 2023

 

 

December 31, 2022

 

Accounts receivable, net

 

Accounts receivable, net

 

$

185,059

 

 

$

277,485

 

Contract liabilities - current

 

Deferred revenue

 

$

27,091

 

 

$

21,128

 

Contract liabilities - non-current

 

Other non-current liabilities

 

$

4,903

 

 

$

3,897

 

Schedule of Net Revenue Disaggregated by Geographical Region and Sales Channel

In the following table, net revenue is disaggregated by geographic region and sales channel. The Company conducts business across three geographic regions: Americas; Europe, Middle East, and Africa (“EMEA”); and Asia Pacific (“APAC”). The table also includes reconciliations of the disaggregated revenue by reportable segment. The Company operates and reports in two segments: Connected Home, and NETGEAR for Business (formerly known as Small and Medium Business, or SMB). Sales and usage-based taxes are excluded from net revenue.

 

 

 

Year Ended December 31,

 

 

2023

 

2022

 

2021

(In thousands)

 

Connected
Home

 

NETGEAR
for Business

 

Total

 

Connected
Home

 

NETGEAR
for Business

 

Total

 

Connected
Home

 

NETGEAR
for Business

 

Total

Geographic regions (1):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Americas

 

$358,304

 

$146,045

 

$504,349

 

$443,612

 

$173,599

 

$617,211

 

$651,936

 

$134,390

 

$786,326

EMEA

 

46,083

 

102,839

 

148,922

 

49,732

 

129,626

 

179,358

 

112,368

 

117,461

 

229,829

APAC

 

42,478

 

45,091

 

87,569

 

65,479

 

70,424

 

135,903

 

89,168

 

62,750

 

151,918

Total

 

$446,865

 

$293,975

 

$740,840

 

$558,823

 

$373,649

 

$932,472

 

$853,472

 

$314,601

 

$1,168,073

Sales channels:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Service provider

 

$98,659

 

$579

 

$99,238

 

$148,331

 

$4,234

 

$152,565

 

$129,052

 

$2,481

 

$131,533

Non-service provider

 

348,206

 

293,396

 

641,602

 

410,492

 

369,415

 

779,907

 

724,420

 

312,120

 

1,036,540

Total

 

$446,865

 

$293,975

 

$740,840

 

$558,823

 

$373,649

 

$932,472

 

$853,472

 

$314,601

 

$1,168,073