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REVENUE
9 Months Ended
Oct. 01, 2022
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 doubtful accounts.

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 contract liabilities relate to advance cash deposits received from customers for certain customized product orders. As products are shipped and control transfers, we recognize contract liabilities as revenue.

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

October 1,
2022
January 1,
2022
Accounts receivable, net$93,898 $109,530 
Contract liabilities$(9,136)$(20,761)

For the nine months ended October 1, 2022, we recognized $20.8 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 end-consumer location) for the periods indicated (in thousands):
Three Months EndedNine Months Ended
October 1,
2022
October 2,
2021
October 1,
2022
October 2,
2021
Net Sales by Channel
Wholesale$206,153 $165,504 $539,014 $447,068 
Direct-to-consumer227,403 197,139 608,212 520,796 
Total net sales$433,556 $362,643 $1,147,226 $967,864 
Net Sales by Category
Coolers & Equipment$185,657 $149,002 $482,030 $400,261 
Drinkware238,987 205,035 639,055 546,796 
Other8,912 8,606 26,141 20,807 
Total net sales$433,556 $362,643 $1,147,226 $967,864 
Net Sales by Geographic Region(1)
United States$377,067 $327,413 $1,005,238 $871,194 
International56,489 35,230 141,988 96,670 
Total net sales$433,556 $362,643 $1,147,226 $967,864 
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(1) Prior period net sales by geographic region have been reclassified to align with current year presentation which is based on end-consumer location.
For both the three and nine months ended October 1, 2022, our largest single customer represented approximately 12% of gross sales. For the three and nine months ended October 2, 2021, our largest single customer represented approximately 11% and 10% of gross sales, respectively.