Revenue and Geographic Information

3 Months Ended

Mar. 29, 2024

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 March 29, 2024 and March 31, 2023:

	Three Months Ended
	March 29, 2024		March 31, 2023
Deferred revenue – beginning of period	$	34,921	$	35,051
Amounts billed, but not recognized	8,970		8,548
Recognition of revenue	(9,351)		(8,728)
Deferred revenue – end of period	$	34,540	$	34,871

The Company recorded deferred revenue of $23,187 and $23,261 in accrued liabilities and $11,353 and $11,660 in other liabilities as of March 29, 2024 and December 29, 2023, respectively.

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 March 29, 2024 and March 31, 2023:

	Three Months Ended
	March 29, 2024		March 31,  2023(d)
Domestic integrators(a)	$	211,342	$	214,543
Domestic other(b)	5,403		4,176
International(c)	29,333		33,321
Total	$	246,078	$	252,040

(a)“Domestic integrators” is defined as professional “do-it-for-me” integrators who transact with Snap One through a traditional integrator channel in the United States.

(b)“Domestic other” is defined as 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.

(d)Certain amounts, including ANLA, LLC (“Access Networks”) net sales, have been reclassified to conform to the current period presentation.

The following table sets forth revenue by product type between proprietary products and third-party products for the three months ended March 29, 2024 and March 31, 2023:

	Three Months Ended
	March 29, 2024		March 31, 2023
Proprietary products(a)	$	163,621	$	171,375
Third-party products(b)	82,457		80,665
Total	$	246,078	$	252,040

(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 ended March 29, 2024 and March 31, 2023:

	Three Months Ended
	March 29, 2024		March 31, 2023
Products transferred at a point in time	$	236,727	$	243,312
Services transferred over time	9,351		8,728
Total	$	246,078	$	252,040