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Note 3 - Revenue
 9 Months Ended
Sep. 30, 2022
Notes to Financial Statements  
Revenue from Contract with Customer [Text Block]

3.

REVENUE

 

The following table provides information about disaggregated revenue by geographic region and sales channel, and includes a reconciliation of the disaggregated revenue to our reportable segments:

 

  

Three Months Ended September 30, 2022

  

Nine Months Ended September 30, 2022

 
  

Connectivity Solutions

  

Power Solutions and Protection

  

Magnetic Solutions

  

Consolidated

  

Connectivity Solutions

  

Power Solutions and Protection

  

Magnetic Solutions

  

Consolidated

 
                                 

By Geographic Region:

                                

North America

 $37,877  $60,267  $13,490  $111,634  $105,189  $155,022  $38,616  $298,827 

Europe

  9,327   8,779   2,535   20,641   26,895   29,264   8,128   64,287 

Asia

  3,049   7,387   35,028   45,464   7,978   21,961   91,977   121,916 
  $50,253  $76,433  $51,053  $177,739  $140,062  $206,247  $138,721  $485,030 
                                 

By Sales Channel:

                                

Direct to customer

 $29,974  $48,765  $40,362  $119,101  $84,571  $130,210  $105,619  $320,400 

Through distribution

  20,279   27,668   10,691   58,638   55,491   76,037   33,102   164,630 
  $50,253  $76,433  $51,053  $177,739  $140,062  $206,247  $138,721  $485,030 

 

  

Three Months Ended September 30, 2021

  

Nine Months Ended September 30, 2021

 
  

Connectivity Solutions

  

Power Solutions and Protection

  

Magnetic Solutions

  

Consolidated

  

Connectivity Solutions

  

Power Solutions and Protection

  

Magnetic Solutions

  

Consolidated

 
                                 

By Geographic Region:

                                

North America

 $30,144  $42,064  $11,338  $83,546  $92,868  $109,708  $28,009  $230,585 

Europe

  7,916   9,679   2,635   20,230   22,220   29,306   6,126   57,652 

Asia

  2,284   8,538   32,368   43,190   6,358   20,298   81,458   108,114 
  $40,344  $60,281  $46,341  $146,966  $121,446  $159,312  $115,593  $396,351 
                                 

By Sales Channel:

                                

Direct to customer

 $23,476  $36,154  $38,022  $97,652  $72,898  $96,759  $95,104  $264,761 

Through distribution

  16,868   24,127   8,319   49,314   48,548   62,553   20,489   131,590 
  $40,344  $60,281  $46,341  $146,966  $121,446  $159,312  $115,593  $396,351 


The balances of the Company’s contract assets and contract liabilities at  September 30, 2022 and December 31, 2021 are as follows:

 

  

September 30,

  

December 31,

 
  

2022

  

2021

 
         

Contract assets - current (unbilled receivables)

 $28,592  $28,275 

Contract liabilities - current (deferred revenue)

 $11,303  $2,224 

 

The change in balance of our unbilled receivables from December 31, 2021 to September 30, 2022 primarily relates to a timing difference between the Company’s performance (i.e. when our product is shipped to a customer-controlled hub) and the point at which the Company can invoice the customer per the terms of the customer contract (i.e. when the customer pulls our product from the customer-controlled hub). The increase in our deferred revenue balance from December 31, 2021 to September 30, 2022 primarily relates to customer prepayments on raw material surcharges and expedite fees, which will be recorded as revenue in the period in which the related finished goods are shipped to the customer.

 

The aggregate amount of transaction price allocated to remaining performance obligations that have not been satisfied as of September 30, 2022 related to contracts that exceed one year in duration amounted to $94.5 million, with expected contract expiration dates that range from 2023 - 2026. It is expected that 57% of this aggregate amount will be recognized in 2023, 36% will be recognized in 2024 and the remainder will largely be recognized in 2025.