XML 20 R10.htm IDEA: XBRL DOCUMENT v3.25.2
REVENUE
 6 Months Ended
Jun. 28, 2025
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. Contract liabilities that represented unredeemed gift card liabilities were $2.9 million as of both June 28, 2025 and December 28, 2024.

The following table provides information about accounts receivable and contract liabilities at the periods indicated (in thousands):
June 28,
2025		December 28,
2024
Accounts receivable, net$163,595 $120,190 
Contract liabilities$(8,629)$(10,462)
For the six months ended June 28, 2025, we recognized $9.8 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 EndedSix Months Ended
June 28,
2025		June 29,
2024		June 28,
2025		June 29,
2024
Net Sales by Channel
Wholesale$197,296 $213,129 $352,208 $366,697 
Direct-to-consumer248,596 250,370 444,812 438,196 
Total net sales$445,892 $463,499 $797,020 $804,893 
Net Sales by Category
Coolers & Equipment$200,572 $205,942 $340,789 $325,848 
Drinkware236,438 246,523 442,039 461,103 
Other8,882 11,034 14,192 17,942 
Total net sales$445,892 $463,499 $797,020 $804,893 
Net Sales by Geographic Region
United States$367,772 $386,886 $639,047 $662,682 
International78,120 76,613 157,973 142,211 
Total net sales$445,892 $463,499 $797,020 $804,893 
For both the three and six months ended June 28, 2025, no single customer represented over 10% of gross sales. 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.