Note 4 - Revenue

3 Months Ended

Mar. 31, 2025

Notes to Financial Statements

Revenue from Contract with Customer [Text Block]

4. 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 March 31, 2025
	Power Solutions and Protection		Connectivity Solutions		Magnetic Solutions		Consolidated
By Geographic Region:
North America	$	49,691	$	39,155	$	7,425	$	96,271
Europe		15,035		10,613		674		26,322
Asia		18,328		962		10,355		29,645
	$	83,054	$	50,730	$	18,454	$	152,238
By Sales Channel:
Direct to customer	$	64,167	$	31,426	$	13,847	$	109,440
Through distribution		18,887		19,304		4,607		42,798
	$	83,054	$	50,730	$	18,454	$	152,238

	Three Months Ended March 31, 2024
	Power Solutions and Protection		Connectivity Solutions		Magnetic Solutions		Consolidated
By Geographic Region:
North America	$	39,549	$	43,884	$	6,123	$	89,556
Europe		16,333		9,436		1,216		26,985
Asia		4,365		965		6,219		11,549
	$	60,247	$	54,285	$	13,558	$	128,090
By Sales Channel:
Direct to customer	$	38,825	$	34,070	$	9,786	$	82,681
Through distribution		21,422		20,215		3,772		45,409
	$	60,247	$	54,285	$	13,558	$	128,090

  
The balances of the Company’s contract assets and contract liabilities at  March 31, 2025 and December 31, 2024 are as follows:

	March 31,		December 31,
	2025		2024
Contract assets - current (unbilled receivables)	$	5,594	$	4,994
Contract liabilities - current (deferred revenue)	$	5,458	$	6,120

The change in balance of our unbilled receivables from December 31, 2024 to March 31, 2025 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). Our deferred revenue balances at  December 31, 2024 and  March 31, 2025 primarily relate to customer prepayments on invoices, which will be recorded as revenue in the period in which the related finished goods are shipped to the customer.

Transaction Price Allocated to Future Obligations

The aggregate amount of transaction price allocated to remaining performance obligations that have not been fully satisfied as of  March 31, 2025 related to contracts that exceed one year in duration amounted to $11.3 million, with expected contract expiration dates that range from 2026 – 2030. Based on the Company's current estimates, it is currently expected that approximately $7.6 million of this aggregate amount will be recognized in 2026, $1.8 million will be recognized in 2027, $0.1 million will be recognized in each of 2028 and 2029, and $1.6 million will be recognized in 2030. The majority of the Company's orders received (but not yet shipped) at  March 31, 2025 are related to contracts that have an original expected duration of one year or less, for which the Company is electing to utilize the practical expedient available within the applicable guidance, and are excluded from the transaction price related to these future obligations. The Company will generally satisfy the remaining performance obligations as we transfer control of the products ordered to our customers.