REVENUE

6 Months Ended

Jul. 03, 2021

Revenue from Contract with Customer [Abstract]

REVENUE

REVENUE

Contract Balances

Accounts receivable represent an unconditional right to receive consideration from a customer and are recorded at net invoiced amounts, less an estimated allowance for credit losses.

Contract liabilities are recorded when the customer pays consideration before the transfer of a good to the customer and thus represent our obligation to transfer the good to the customer at a future date. Our primary contract liabilities relate to payment advances for certain customized product transactions. We recognize contract liabilities as revenue once all performance obligations have been satisfied.

The following table provides information about accounts receivable and contract liabilities at the periods indicated (in thousands):

	July 3, 2021		January 2, 2021
Accounts receivable, net	$	81,893	$	65,417
Contract liabilities	(14,297)		(11,074)

For the six months ended July 3, 2021, we recognized $11.1 million of revenue that was previously included in the contract liability balance at the beginning of the period.

Disaggregation of Revenue

The following table disaggregates our net sales by channel, product category, and geography (based on ship to destination) for the periods indicated (in thousands):

	Three Months Ended				Six Months Ended
	July 3, 2021		June 27, 2020		July 3, 2021		June 27, 2020
Net Sales by Channel
Wholesale	$	160,784	$	113,891	$	281,564	$	208,707
Direct-to-consumer	196,883		133,047		323,657		212,643
Total net sales	$	357,667	$	246,938	$	605,221	$	421,350
Net Sales by Category
Coolers & Equipment	$	157,801	$	128,610	$	251,259	$	188,104
Drinkware	192,882		114,326		341,761		226,943
Other	6,984		4,002		12,201		6,303
Total net sales	$	357,667	$	246,938	$	605,221	$	421,350
Net Sales by Geographic Region
United States	$	324,674	$	237,134	$	549,032	$	402,132
International	32,993		9,804		56,189		19,218
Total net sales	$	357,667	$	246,938	$	605,221	$	421,350

For the three and six months ended July 3, 2021 and June 27, 2020, no single customer represented over 10% of gross sales.