v3.25.2
Revenue Recognition
 6 Months Ended
Jun. 29, 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 EndedSix-months Ended
June 29, 2025June 30, 2024June 29, 2025June 30, 2024
Americas$92,137 $85,162 $191,867 $168,297 
Europe66,623 57,151 115,833 109,505 
Greater China45,025 54,410 71,815 84,459 
Other Asia45,308 42,569 85,614 87,828 
$249,093 $239,292 $465,129 $450,089 

The following table summarizes disaggregated revenue information by revenue type (in thousands):
Three-months EndedSix-months Ended
June 29, 2025June 30, 2024June 29, 2025June 30, 2024
Standard products and services$216,035 $200,856 $420,545 $388,488 
Application-specific customer solutions33,058 38,436 44,584 61,601 
$249,093 $239,292 $465,129 $450,089 
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 $14,133,000 and $10,705,000 as of June 29, 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 six-month period ended June 29, 2025 (in thousands):
Balance as of December 31, 2024$827 
Increases to the allowance for credit losses80 
Write-offs, net of recoveries(267)
Foreign exchange rate changes(20)
Balance as of June 29, 2025$620 
The following table summarizes the deferred revenue and customer deposits activity for the six-month period ended June 29, 2025 (in thousands):
Balance as of December 31, 2024$25,035 
Deferral of revenue billed in the current period, net of recognition40,837 
Recognition of revenue deferred in prior period(13,450)
Foreign exchange rate changes655 
Balance as of June 29, 2025$53,077 
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.