Note 3 - Revenue

6 Months Ended

Jun. 30, 2022

Notes to Financial Statements

Revenue from Contract with Customer [Text Block]

3. REVENUE

The following table provides information about disaggregated revenue by geographic region and sales channel, and includes a reconciliation of the disaggregated revenue to our reportable segments:

	Three Months Ended June 30, 2022								Six Months Ended June 30, 2022
	Connectivity Solutions		Power Solutions and Protection		Magnetic Solutions		Consolidated		Connectivity Solutions		Power Solutions and Protection		Magnetic Solutions		Consolidated
By Geographic Region:
North America	$	34,781	$	52,407	$	14,248	$	101,436	$	67,313	$	94,755	$	25,126	$	187,194
Europe		8,354		11,101		3,121		22,576		17,568		20,486		5,592		43,646
Asia		2,961		7,518		36,081		46,560		4,928		14,574		56,948		76,450
	$	46,096	$	71,026	$	53,450	$	170,572	$	89,809	$	129,815	$	87,666	$	307,290
By Sales Channel:
Direct to customer	$	28,544	$	45,604	$	39,515	$	113,663	$	54,597	$	81,447	$	65,254	$	201,298
Through distribution		17,552		25,422		13,935		56,909		35,212		48,368		22,412		105,992
	$	46,096	$	71,026	$	53,450	$	170,572	$	89,809	$	129,815	$	87,666	$	307,290

	Three Months Ended June 30, 2021								Six Months Ended June 30, 2021
	Connectivity Solutions		Power Solutions and Protection		Magnetic Solutions		Consolidated		Connectivity Solutions		Power Solutions and Protection		Magnetic Solutions		Consolidated
By Geographic Region:
North America	$	33,182	$	37,867	$	9,594	$	80,643	$	62,724	$	67,644	$	16,671	$	147,039
Europe		7,557		9,668		2,242		19,467		14,304		19,627		3,491		37,422
Asia		2,307		7,855		28,469		38,631		4,074		11,760		49,090		64,924
	$	43,046	$	55,390	$	40,305	$	138,741	$	81,102	$	99,031	$	69,252	$	249,385
By Sales Channel:
Direct to customer	$	25,785	$	34,116	$	32,746	$	92,647	$	49,422	$	60,605	$	57,082	$	167,109
Through distribution		17,261		21,274		7,559		46,094		31,680		38,426		12,170		82,276
	$	43,046	$	55,390	$	40,305	$	138,741	$	81,102	$	99,031	$	69,252	$	249,385

The balances of the Company’s contract assets and contract liabilities at  June 30, 2022 and December 31, 2021 are as follows:

	June 30,		December 31,
	2022		2021
Contract assets - current (unbilled receivables)	$	23,277	$	28,275
Contract liabilities - current (deferred revenue)	$	7,844	$	2,224

The change in balance of our unbilled receivables from December 31, 2021 to June 30, 2022 primarily relates to a timing difference between the Company’s performance (i.e. when our product is shipped to a customer-controlled hub) and the point at which the Company can invoice the customer per the terms of the customer contract (i.e. when the customer pulls our product from the customer-controlled hub). The increase in our deferred revenue balance from December 31, 2021 to June 30, 2022 primarily relates to customer prepayments on raw material surcharges and expedite fees, which will be recorded as revenue in the period in which the related finished goods are shipped to the customer.

The aggregate amount of transaction price allocated to remaining performance obligations that have not been satisfied as of June 30, 2022 related to contracts that exceed one year in duration amounted to $96.0 million, with expected contract expiration dates that range from 2023 - 2025. It is expected that 78% of this aggregate amount will be recognized in 2023, 20% will be recognized in 2024 and the remainder will be recognized in 2025.