v3.26.1
Revenue and Accounts Receivable, Net (Tables)
 6 Months Ended
Jun. 30, 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 June 30,Six Months Ended June 30,
(In thousands)2026202520262025
Goods and services transferred at a point in time$60,304 $77,656 $125,042 $149,047 
Goods and services transferred over time12,93420,00927,23240,944 
Net sales$73,238 $97,665 $152,274 $189,991 

Our net sales to external customers by channel were as follows:
Three Months Ended June 30,Six Months Ended June 30,
(In thousands)2026202520262025
Connected home (1)
$25,130 $34,099 $53,417 $65,828 
Home entertainment (2)
48,10863,56698,857124,163 
Net sales$73,238 $97,665 $152,274 $189,991 
(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 June 30,Six Months Ended June 30,
(In thousands)2026202520262025
United States$17,823 $28,974 $40,543 $59,532 
Asia (excluding PRC)16,69822,190 33,22440,937 
Europe21,04026,11044,41846,808
Latin America3,4646,8088,68113,358
PRC10,8348,25518,78117,173
Other3,3795,3286,62712,183
Total net sales$73,238 $97,665 $152,274 $189,991 
Schedule of Accounts Receivable, Net and Changes in the Allowance for Credit Losses
Accounts receivable, net were as follows:
(In thousands)June 30, 2026December 31, 2025
Trade receivables, gross$64,931 $71,410 
Allowance for credit losses(1,000)(723)
Allowance for sales returns(255)(283)
Trade receivables, net63,676 70,404 
IEEPA receivable6,944 — 
Other (1)
13,265 8,916 
Accounts receivable, net (2)
$83,885 $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)Six Months Ended June 30,
20262025
Balance at beginning of period$723 $1,863 
Additions (reductions) to costs and expenses299 19 
Cash receipts— (266)
Write-offs/Foreign exchange effects(22)(148)
Balance at end of period$1,000 $1,468 
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 June 30,Six Months Ended June 30,
2026202520262025
Balance at beginning of period$3,204 $4,285 $2,879 $3,237 
Payments received1,047 656 2,529 2,849 
Revenue recognized(1,158)(877)(2,317)(2,027)
Foreign exchange effects3 4 5 9 
Balance at end of period$3,096 $4,068 $3,096 $4,068 
Schedule of Net Sales to Customers
Net sales to the following customers totaled more than 10% of our net sales: 
Three Months Ended June 30,
20262025
$ (thousands)% of Net Sales$ (thousands)% of Net Sales
Daikin Industries Ltd. $15,308 20.9 %$18,230 18.7 %
Comcast Communications$8,327 11.4 %$11,942 12.2 %
Six Months Ended June 30, 2026
20262025
$ (thousands)% of Net Sales$ (thousands)% of Net Sales
Daikin Industries Ltd.$30,171 19.8 %$34,594 18.2 %
Comcast Communications$17,344 11.4 %$22,291 11.7 %
Schedule of Trade Receivables with Significant Customers
Trade receivables associated with significant customers that totaled more than 10% of our accounts receivable, net was as follows:
June 30, 2026December 31, 2025
$ (thousands)% of Accounts Receivable, Net$ (thousands)% of Accounts Receivable, Net
Daikin Industries Ltd.
(1)
(1)
$9,766 12.3 %
(1) Trade receivables associated with this customer did not total more than 10% of our accounts receivable, net for the indicated period.