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Revenue (Tables)
3 Months Ended
Mar. 31, 2024
Revenue from Contract with Customer [Abstract]  
Schedule of Remaining Performance Obligations

 

(In thousands)

 

Less than 1 year

 

 

1 to 2 years

 

 

Beyond 2 years

 

 

Total

 

Performance obligations

 

$

53,158

 

 

$

2,908

 

 

$

2,518

 

 

$

58,584

 

Schedule of Contract Balances

The following table reflects the contract balances:

 

(In thousands)

 

Balance Sheet Location

 

March 31, 2024

 

 

December 31, 2023

 

Accounts receivable, net

 

Accounts receivable, net

 

$

172,771

 

 

$

185,059

 

Contract liabilities – current

 

Deferred revenue

 

$

28,393

 

 

$

27,091

 

Contract liabilities – non-current

 

Other non-current liabilities

 

$

5,321

 

 

$

4,903

 

Schedule of Net Revenue Disaggregated by Geographical Region and Sales Channel

In the following tables, 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 tables also include 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.

 

 

Three Months Ended

 

 

 

March 31, 2024

 

 

April 2, 2023

 

(In thousands)

 

Connected
Home

 

 

NETGEAR for Business

 

 

Total

 

 

Connected
Home

 

 

NETGEAR for Business

 

 

Total

 

Geographic regions (1):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Americas

 

$

77,995

 

 

$

31,933

 

 

$

109,928

 

 

$

84,001

 

 

$

37,921

 

 

$

121,922

 

EMEA

 

 

8,010

 

 

 

23,177

 

 

 

31,187

 

 

 

12,064

 

 

 

27,114

 

 

 

39,178

 

APAC

 

 

9,958

 

 

 

13,513

 

 

 

23,471

 

 

 

6,681

 

 

 

13,127

 

 

 

19,808

 

Total

 

$

95,963

 

 

$

68,623

 

 

$

164,586

 

 

$

102,746

 

 

$

78,162

 

 

$

180,908

 

Sales channels:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Service provider

 

$

27,553

 

 

$

243

 

 

$

27,796

 

 

$

14,027

 

 

$

190

 

 

$

14,217

 

Non-service provider

 

 

68,410

 

 

 

68,380

 

 

 

136,790

 

 

 

88,719

 

 

 

77,972

 

 

 

166,691

 

Total

 

$

95,963

 

 

$

68,623

 

 

$

164,586

 

 

$

102,746

 

 

$

78,162

 

 

$

180,908

 

 

(1) No individual foreign country represented more than 10% of the Companys total net revenue in the periods presented.