Revenue Recognition

3 Months Ended

Mar. 30, 2025

Revenue from Contract with Customer [Abstract]

Revenue Recognition

Revenue Recognition

The following table summarizes disaggregated revenue information by geographic area based upon the customer's country of domicile (in thousands):

	Three-months Ended
	March 30, 2025		March 31, 2024
Americas	$	99,374	$	83,135
Europe	46,790		52,354
Greater China	26,946		30,049
Other Asia	42,926		45,259
	$	216,036	$	210,797

The following table summarizes disaggregated revenue information by revenue type (in thousands):

	Three-months Ended
	March 30, 2025		March 31, 2024
Standard products and services	$	204,510	$	187,632
Application-specific customer solutions	11,526		23,165
	$	216,036	$	210,797

Costs to Fulfill a Contract

Costs to fulfill a contract are included in "Prepaid expenses and other current assets" on the Consolidated Balance Sheet and amounted to $12,326,000 and $10,705,000 as of March 30, 2025 and December 31, 2024, respectively.

Accounts Receivable, Contract Assets, and Contract Liabilities

Accounts receivable represent amounts billed and currently due from customers which are reported at their net estimated realizable value. The Company maintains an allowance against its accounts receivable for credit losses. Contract assets consist of unbilled revenue which arises when revenue is recognized in advance of billing for certain application-specific customer solutions contracts. Contract liabilities consist of deferred revenue and customer deposits which arise when amounts are billed to or collected from customers in advance of revenue recognition.

The following table summarizes the allowance for credit losses activity for the three-month period ended March 30, 2025 (in thousands):

Balance as of December 31, 2024	$	827
Increases to the allowance for credit losses	—
Write-offs, net of recoveries	(223)
Foreign exchange rate changes	(6)
Balance as of March 30, 2025	$	598

The following table summarizes the deferred revenue and customer deposits activity for the three-month period ended March 30, 2025 (in thousands):

Balance as of December 31, 2024	$	25,035
Deferral of revenue billed in the current period, net of recognition	22,175
Recognition of revenue deferred in prior period	(7,414)
Foreign exchange rate changes	62
Balance as of March 30, 2025	$	39,858

As a practical expedient, the Company has elected not to disclose the aggregate amount of the transaction price allocated to unsatisfied performance obligations for our contracts that have an original expected duration of less than one year. The remaining unsatisfied performance obligations for our contracts that have an original expected duration of more than one year, primarily related to extended warranties, are not material.