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Revenue | 6 Months Ended
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Jun. 28, 2026
Revenue from Contract with Customer [Abstract] |
Revenue | Revenue Contract balances The following table reflects the changes in contract balances for the six months ended June 28, 2026:
Contract Classification |  | Balance Sheet Classification |  | June 28, 2026 |  | December 31, 2025 |  | $ change |  | % change
|  |  |  | (In thousands) |  |
Receivables |  | Accounts receivable, net |  | $ | 63,607 |  |  | $ | 39,666 |  |  | $ | 23,941 |  |  | 60.4 | %
Contract liabilities, current |  | Deferred revenue |  | $ | 50,842 |  |  | $ | 37,139 |  |  | $ | 13,703 |  |  | 36.9 | %
Contract liabilities, non-current |  | Other non-current liabilities |  | $ | 957 |  |  | $ | 1,476 |  |  | $ | (519) |  |  | (35.2) | %
Receivables increased primarily due to higher product and service sales. Contract liabilities increased primarily due to growth in subscriptions and services revenue driven by changes in consumer subscription plans, a shift toward additional annual prepaid subscriptions, and increases in cumulative paid accounts and subscription rates. As of June 28, 2026, there were no contract assets. For the six months ended June 28, 2026 and June 29, 2025, $29.5 million and $21.7 million, respectively, of the recognized revenue was included in deferred revenue at the beginning of the periods. There were no significant changes in estimates during the periods that would affect the contract balances. Remaining performance obligations The total estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied and remaining was $54.0 million as of June 28, 2026 and $40.6 million as of December 31, 2025, substantially related to performance obligations classified as less than one year. Under the Supply Agreement with Verisure Sàrl (“Verisure”), our largest customer, a performance obligation is not deemed to exist until we receive and accept Verisure’s purchase order. As of June 28, 2026, we had a backlog of $40.0 million which represents performance obligations that will be recognized as revenue once fulfilled, which is expected to occur over the next six months. Variable consideration Revenue from all sales is recognized at transaction price, the amount we expect to be entitled to in exchange for providing services or transferring goods. Transaction price is calculated as selling price net of variable consideration which includes estimates for sales incentives and sales returns related to current period products revenue. Sales incentives are determined based on a combination of the actual amounts committed and estimated future expenditure based upon historical customary business practice. Sales returns are estimated by analyzing certain factors, including historical sales and returns data, channel inventory levels, current economic trends, and changes in customer demand for our products. Variable consideration estimates are based on predictive historical data or future commitments that we plan and control. However, we continue to assess variable consideration estimates such that it is probable that a significant reversal of revenue will not occur. The following tables provide activities related to sales incentives and sales returns that are recognized as contra-revenue.
| Three Months Ended |  | Six Months Ended
Sales incentives | June 28, 2026 |  | June 29, 2025 |  | June 28, 2026 |  | June 29, 2025
| (In thousands)
Balance at the beginning of the period | $ | 26,450 |  |  | $ | 28,378 |  |  | $ | 29,124 |  |  | $ | 29,846 |
Credits issued | (19,078) |  |  | (19,834) |  |  | (36,746) |  |  | (41,552) |
Additions | 18,929 |  |  | 26,348 |  |  | 33,923 |  |  | 46,598 |
Balance at the end of the period | $ | 26,301 |  |  | $ | 34,892 |  |  | $ | 26,301 |  |  | $ | 34,892 |
| Three Months Ended |  | Six Months Ended
Sales returns | June 28, 2026 |  | June 29, 2025 |  | June 28, 2026 |  | June 29, 2025
| (In thousands)
Balance at the beginning of the period | $ | 7,202 |  |  | $ | 8,963 |  |  | $ | 9,273 |  |  | $ | 11,651 |
Credits issued | (2,985) |  |  | (3,246) |  |  | (5,774) |  |  | (8,749) |
Additions | 1,181 |  |  | 2,373 |  |  | 1,899 |  |  | 5,188 |
Balance at the end of the period | $ | 5,398 |  |  | $ | 8,090 |  |  | $ | 5,398 |  |  | $ | 8,090 |
Disaggregation of revenue We disaggregate our revenue into three geographic regions: the Americas, EMEA, and APAC, where we conduct our business. The following table presents revenue disaggregated by geographic region.
| Three Months Ended |  | Six Months Ended
| June 28, 2026 |  | June 29, 2025 |  | June 28, 2026 |  | June 29, 2025
| (In thousands)
Americas | $ | 88,969 |  |  | $ | 81,902 |  |  | $ | 172,955 |  |  | $ | 151,999 |
EMEA | 61,479 |  |  | 43,320 |  |  | 122,144 |  |  | 86,215 |
APAC | 5,489 |  |  | 4,183 |  |  | 11,220 |  |  | 10,257 |
Total | $ | 155,937 |  |  | $ | 129,405 |  |  | $ | 306,319 |  |  | $ | 248,471 |
For the six months ended June 28, 2026 and June 29, 2025, one customer accounted for 40% and 35% of the total revenue, respectively. No other customer accounted for 10% or greater of the total revenue. As of June 28, 2026, one customer accounted for 60%, and as of December 31, 2025, two customers accounted for 40% and 17% of the total accounts receivable, net. No other customers accounted for 10% or greater of the total accounts receivable, net.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-7 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent + Details
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