v3.26.1
Revenue and Accounts Receivable, Net (Tables)
3 Months Ended
Mar. 31, 2026
Receivables [Abstract]  
Schedule of Revenue Recognition and Net Sales to External Customers by Channel
The pattern of revenue recognition was as follows:
Three Months Ended March 31,
(In thousands)20262025
Goods and services transferred at a point in time$64,739 $71,391 
Goods and services transferred over time14,29720,935
Net sales$79,036 $92,326 

Our net sales to external customers by channel were as follows:
Three Months Ended March 31,
(In thousands)20262025
Connected home (1)
$28,288 $31,729 
Home entertainment (2)
50,74860,597
Net sales$79,036 $92,326 
(1)The connected home channel represents climate control, smart home and security product sales sold primarily to HVAC, security, home automation and home appliance customers.
(2)The home entertainment channel represents entertainment-related product sales sold primarily to video service providers, consumer electronics original equipment manufacturers ("OEMs") and retailers. It also includes sales associated with intellectual property licensing and our cloud-based software solution.
Schedule of Net Sales to External Customers by Geographic Areas
Our net sales to external customers by geographic area were as follows:
Three Months Ended March 31,
(In thousands)20262025
United States$22,720 $30,558 
Asia (excluding PRC)16,52618,747 
Europe23,37820,698
Latin America5,2176,550
PRC7,9478,918
Other3,2486,855
Total net sales$79,036 $92,326 
Schedule of Accounts Receivable, Net and Changes in the Allowance for Credit Losses
Accounts receivable, net were as follows:
(In thousands)March 31, 2026December 31, 2025
Trade receivables, gross$69,600 $71,410 
Allowance for credit losses(703)(723)
Allowance for sales returns(256)(283)
Trade receivables, net68,641 70,404 
Other (1)
8,217 8,916 
Accounts receivable, net (2)
$76,858 $79,320 
(1)Other accounts receivable is primarily comprised of supplier, supplier rebate and interest receivables.
(2)Accounts receivable, net at December 31, 2024 was $114.2 million.
Changes in the allowance for credit losses were as follows:
(In thousands)Three Months Ended March 31,
20262025
Balance at beginning of period$723 $1,863 
Additions (reductions) to costs and expenses— 19 
Cash receipts— — 
Write-offs/Foreign exchange effects(20)(70)
Balance at end of period$703 $1,812 
Schedule of Changes in Carrying Amount of Contract Liabilities
Changes in the carrying amount of contract liabilities were as follows: 
(In thousands)Three Months Ended March 31,
20262025
Balance at beginning of period$2,879 $3,237 
Payments received1,482 2,193 
Revenue recognized(1,159)(1,150)
Foreign exchange effects
Balance at end of period$3,204 $4,285 
Schedule of Net Sales to Customers
Net sales to the following customers totaled more than 10% of our net sales: 
 Three Months Ended March 31,
20262025
 $ (thousands)% of Net Sales$ (thousands)% of Net Sales
Daikin Industries Ltd. $14,862 18.8 %$16,365 17.7 %
Comcast Communications$9,017 11.4 %$10,349 11.2 %
Schedule of Trade Receivables with Significant Customers
Trade receivables associated with this significant customer that totaled more than 10% of our accounts receivable, net was as follows:
March 31, 2026December 31, 2025
$ (thousands)% of Accounts Receivable, Net$ (thousands)% of Accounts Receivable, Net
Daikin Industries Ltd. $9,226 12.0 %$9,766 12.3 %