REVENUE

3 Months Ended

Apr. 04, 2026

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.

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

	April 4, 2026		January 3, 2026
Accounts receivable, net	$	136,023	$	141,424
Contract liabilities	$	(10,219)	$	(9,535)

For the three months ended April 4, 2026, we recognized $6.6 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 Ended
	April 4, 2026		March 29, 2025
Net Sales by Channel
Wholesale	$	183,595	$	154,912
Direct-to-consumer	196,819		196,216
Total net sales	$	380,414	$	351,128
Net Sales by Category
Coolers & Equipment	$	156,101	$	140,217
Drinkware	216,905		205,601
Other	7,408		5,310
Total net sales	$	380,414	$	351,128
Net Sales by Geographic Region
United States	$	293,086	$	271,275
International	87,328		79,853
Total net sales	$	380,414	$	351,128

For each of the three months ended April 4, 2026 and March 29, 2025, no single customer represented over 10% of gross sales.