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Revenue
 9 Months Ended
Sep. 28, 2024
Revenue from Contract with Customer [Abstract]  
Revenue

NOTE 8. Revenue

The following table represents a disaggregation of revenue by timing of revenue:

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

September 28,

 

 

September 30,

 

 

September 28,

 

 

September 30,

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Point-in-time

$

237,935

 

 

$

194,375

 

 

$

679,517

 

 

$

559,074

 

Over-time

 

14,275

 

 

 

12,810

 

 

 

43,865

 

 

 

37,938

 

Total revenue

$

252,210

 

 

$

207,185

 

 

$

723,382

 

 

$

597,012

 

See Note 14 for additional discussion of the Company’s disaggregated revenue in detail.

Contract Liabilities

The Company records contract liabilities when the customer has been billed in advance of the Company completing its performance obligations primarily with respect to liabilities related to service contracts and installation. For contracts that have a duration of one year or less, these amounts are recorded as current deferred revenue in the Condensed Consolidated Balance Sheets. For contracts with a duration longer than one year, these amounts are recorded in other non-current liabilities in the Condensed Consolidated Balance Sheets. As of September 28, 2024 and December 30, 2023, the Company carried a long-term deferred revenue balance of $3,197 and $2,462, respectively.

Changes in deferred revenue were as follows:

 

 

Three Months Ended

 

 

Nine Months Ended

 

September 28,

 

 

September 30,

 

 

September 28,

 

 

September 30,

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Balance, beginning of the period

$

31,281

 

 

$

27,256

 

 

$

27,225

 

 

$

33,014

 

Deferral of revenue

 

15,926

 

 

 

17,749

 

 

 

50,601

 

 

 

52,039

 

Recognition of current year deferred revenue

 

(13,173

)

 

 

(13,407

)

 

 

(33,416

)

 

 

(36,542

)

Recognition of prior period deferred revenue

 

(4,068

)

 

 

(4,867

)

 

 

(14,444

)

 

 

(21,780

)

Balance, end of the period

$

29,966

 

 

$

26,731

 

 

$

29,966

 

 

$

26,731