Revenue and Geographic Information

3 Months Ended

Apr. 01, 2022

Revenue from Contract with Customer [Abstract]

Revenue and Geographic Information

Revenue and Geographic Information

Contract Balances — Amounts invoiced in advance of revenue recognition are recorded as deferred revenue on the condensed consolidated balance sheets. Deferred revenue primarily relates to unspecified software updates and upgrades, hosting, technical support, marketing incentive programs, and subscription services. The following table represents the changes in deferred revenue for the three months ended April 1, 2022, and March 26, 2021:

	Three Months Ended
	April 1, 2022		March 26, 2021
Deferred revenue – beginning of period	$	33,385	$	30,466
Amounts billed, but not recognized	8,531		6,661
Recognition of revenue	(7,281)		(6,063)
Deferred revenue – end of period	$	34,635	$	31,064

The Company recorded deferred revenue of $22,197 in accrued liabilities and $12,438 in other liabilities as of April 1, 2022. The Company recorded deferred revenue of $20,944 in accrued liabilities and $12,441 in other liabilities as of December 31, 2021.

Disaggregation of Revenue — The following table sets forth revenue by geography between the United States and all geographies outside of the United States for the three months ended April 1, 2022 and March 26, 2021:

	Three Months Ended
	April 1, 2022		March 26, 2021
United States integrators(a)	$	225,406	$	185,663
United States other(b)	13,353		8,415
International(c)	38,675		26,390
Total	$	277,434	$	220,468

(a)United States integrators is defined as professional “do-it-for-me” integrator customers who transact with Snap One through a traditional integrator channel and excludes the impact of recently acquired businesses domestically.

(b)United States other is defined as recently acquired entities and revenue generated through managed transactions with non-integrator customers, such as national accounts.

(c)International consists of all integrators and distributors who transact with Snap One outside of the United States.

The following table sets forth revenue by product type between proprietary products and third-party products for the three months ended April 1, 2022, and March 26, 2021:

	Three Months Ended
	April 1, 2022		March 26, 2021
Proprietary products(a)	$	187,797	$	152,037
Third-party products(b)	89,637		68,431
Total	$	277,434	$	220,468

(a)Proprietary products consist of product and services internally developed by Snap One and sold under one of Snap One’s proprietary brands.

(b)Third-party products consist of product that Snap One distributes but does not own the intellectual property.

Additionally, the Company’s revenue includes amounts recognized over time and at a point in time, and are as follows for the three months ended April 1, 2022, and March 26, 2021:

	Three Months Ended
	April 1, 2022		March 26, 2021
Products transferred at a point in time	$	270,153	$	214,405
Services transferred over time	7,281		6,063
Total	$	277,434	$	220,468

As of April 1, 2022, and December 31, 2021, the Company’s accounts receivable, net consisted of the following:

	April 1, 2022		December 31, 2021
Accounts receivable	$	59,653	$	55,088
Allowance for doubtful accounts	(2,502)		(2,468)
Accounts receivable, net	$	57,151	$	52,620