Revenue and Geographic Information

6 Months Ended

Jul. 01, 2022

Revenue from Contract with Customer [Abstract]

Revenue and Geographic Information

Revenue and Geographic InformationContract 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 six months ended July 1, 2022, and June 25, 2021:

	Six Months Ended
	July 1, 2022		June 25, 2021
Deferred revenue – beginning of period	$	33,385	$	30,466
Amounts billed, but not recognized	17,686		13,271
Recognition of revenue	(14,907)		(13,592)
Deferred revenue acquired	—		1,469
Deferred revenue – end of period	$	36,164	$	31,614

The Company recorded deferred revenue of $23,613 in accrued liabilities and $12,551 in other liabilities as of July 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 and six months ended July 1, 2022 and June 25, 2021:

	Three Months Ended				Six Months Ended
	July 1, 2022		June 25, 2021		July 1, 2022		June 25, 2021
United States integrators(a)	$	238,675	$	209,526	$	464,081	$	395,189
United States other(b)	17,814		14,294		31,167		22,709
International(c)	40,416		29,485		79,091		55,875
Total	$	296,905	$	253,305	$	574,339	$	473,773

(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 and six months ended July 1, 2022, and June 25, 2021:

	Three Months Ended				Six Months Ended
	July 1, 2022		June 25, 2021		July 1, 2022		June 25, 2021
Proprietary products(a)	$	208,196	$	180,418	$	395,993	$	332,455
Third-party products(b)	88,709		72,887		178,346		141,318
Total	$	296,905	$	253,305	$	574,339	$	473,773

(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 to which Snap One 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 and six months ended July 1, 2022, and June 25, 2021:

	Three Months Ended				Six Months Ended
	July 1, 2022		June 25, 2021		July 1, 2022		June 25, 2021
Products transferred at a point in time	$	289,279	$	245,776	$	559,432	$	460,181
Services transferred over time	7,626		7,529		14,907		13,592
Total	$	296,905	$	253,305	$	574,339	$	473,773

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

	July 1, 2022		December 31, 2021
Accounts receivable	$	61,459	$	55,088
Allowance for doubtful accounts	(2,287)		(2,468)
Accounts receivable, net	$	59,172	$	52,620