Revenue and Geographic Information

9 Months Ended

Sep. 30, 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 nine months ended September 30, 2022 and September 24, 2021:

	Nine Months Ended
	September 30, 2022		September 24, 2021
Deferred revenue – beginning of period	$	33,385	$	30,466
Amounts billed, but not recognized	25,809		20,971
Recognition of revenue	(24,641)		(20,168)
Deferred revenue acquired	218		1,469
Deferred revenue – end of period	$	34,771	$	32,738

The Company recorded deferred revenue of $22,121 in accrued liabilities and $12,650 in other liabilities as of September 30, 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 nine months ended September 30, 2022 and September 24, 2021:

	Three Months Ended				Nine Months Ended
	September 30, 2022		September 24, 2021		September 30, 2022		September 24, 2021
United States integrators(a)	$	230,173	$	208,524	$	694,254	$	603,713
United States other(b)	14,940		19,037		46,107		41,746
International(c)	36,121		33,185		115,212		89,060
Total	$	281,234	$	260,746	$	855,573	$	734,519

(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, specifically Access Networks.

(b)United States other is defined as recently acquired entities, specifically Access Networks, 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 nine months ended September 30, 2022 and September 24, 2021:

	Three Months Ended				Nine Months Ended
	September 30, 2022		September 24, 2021		September 30, 2022		September 24, 2021
Proprietary products(a)	$	192,172	$	184,640	$	588,165	$	517,095
Third-party products(b)	89,062		76,106		267,408		217,424
Total	$	281,234	$	260,746	$	855,573	$	734,519

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

(b)Third-party products consist of products 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 nine months ended September 30, 2022 and September 24, 2021:

	Three Months Ended				Nine Months Ended
	September 30, 2022		September 24, 2021		September 30, 2022		September 24, 2021
Products transferred at a point in time	$	271,500	$	254,170	$	830,932	$	714,351
Services transferred over time	9,734		6,576		24,641		20,168
Total	$	281,234	$	260,746	$	855,573	$	734,519

As of September 30, 2022 and December 31, 2021, the Company’s accounts receivable, net consisted of the following:

	September 30, 2022		December 31, 2021
Accounts receivable	$	56,553	$	55,088
Allowance for doubtful accounts	(2,382)		(2,468)
Accounts receivable, net	$	54,171	$	52,620