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REVENUE
 6 Months Ended
Jun. 29, 2024
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 contract liabilities include advance cash deposits received from customers for certain customized product orders and unredeemed gift card liabilities. As products are shipped and control transfers, we recognize contract liabilities as revenue.

During the second quarter of 2023, we began issuing gift cards as remedies in connection with our voluntary recalls. We recognize sales from gift cards as they are redeemed for products. As of June 29, 2024, $3.4 million of our contract liabilities represented unredeemed gift card liabilities.
The following table provides information about accounts receivable and contract liabilities at the periods indicated (in thousands):
June 29,
2024		December 30,
2023
Accounts receivable, net$159,050 $95,774 
Contract liabilities$(9,770)$(22,437)
For the six months ended June 29, 2024, we recognized $22.1 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 end-consumer location) for the periods indicated (in thousands):
Three Months EndedSix Months Ended
June 29,
2024
July 1,
2023(1)
June 29,
2024
July 1,
2023(1)
Net Sales by Channel
Wholesale$213,129 $176,175 $366,697 $312,004 
Direct-to-consumer250,370 226,388 438,196 393,355 
Total net sales$463,499 $402,563 $804,893 $705,359 
Net Sales by Category
Coolers & Equipment$205,942 $156,610 $325,848 $260,964 
Drinkware246,523 233,417 461,103 423,704 
Other11,034 12,536 17,942 20,691 
Total net sales$463,499 $402,563 $804,893 $705,359 
Net Sales by Geographic Region
United States$386,886 $345,888 $662,682 $598,874 
International76,613 56,675 142,211 106,485 
Total net sales$463,499 $402,563 $804,893 $705,359 
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(1)Includes an unfavorable impact from the recall reserve adjustment. See Note 10 for further discussion of our recalls.

For the three months ended June 29, 2024, our largest single customer represented approximately 11% of gross sales. For the six months ended June 29, 2024, no single customer represented over 10% of gross sales. For the three and six months ended July 1, 2023, our largest single customer represented approximately 12% and 10% of gross sales, respectively.