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Note 3 - Revenue
 3 Months Ended
Mar. 31, 2023
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 March 31, 2023

  
   

Connectivity Solutions

    

Power Solutions and Protection

    

Magnetic Solutions

    

Consolidated

  
                                 

By Geographic Region:

                                

North America

   $ 43,013     $ 62,800     $ 10,354     $ 116,167  

Europe

     8,401       13,599       2,766       24,766  

Asia

     1,982       6,782       22,647       31,411  
    $ 53,396     $ 83,181     $ 35,767     $ 172,344  
                                 

By Sales Channel:

                                

Direct to customer

   $ 33,725     $ 59,614     $ 27,411     $ 120,750  

Through distribution

     19,671       23,567       8,356       51,594  
    $ 53,396     $ 83,181     $ 35,767     $ 172,344  

 

   

Three Months Ended March 31, 2022

  
   

Connectivity Solutions

    

Power Solutions and Protection

    

Magnetic Solutions

    

Consolidated

  
                                 

By Geographic Region:

                                

North America

   $ 32,532     $ 42,349     $ 10,878     $ 85,759  

Europe

     9,214       9,385       2,471       21,070  

Asia

     1,967       7,056       20,866       29,889  
    $ 43,713     $ 58,790     $ 34,215     $ 136,718  
                                 

By Sales Channel:

                                

Direct to customer

   $ 26,053     $ 35,844     $ 25,738     $ 87,635  

Through distribution

     17,660       22,946       8,477       49,083  
    $ 43,713     $ 58,790     $ 34,215     $ 136,718  


The balances of the Company’s contract assets and contract liabilities at  March 31, 2023 and December 31, 2022 are as follows:

 

   

March 31,

    

December 31,

  
   

2023

    

2022

  
                 

Contract assets - current (unbilled receivables)

   $ 15,070     $ 18,244  

Contract liabilities - current (deferred revenue)

   $ 7,145     $ 8,847  

 

The change in balance of our unbilled receivables from December 31, 2022 to March 31, 2023 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). Our deferred revenue balance at  December 31, 2022 and  March 31, 2023 primarily relates to customer prepayments on invoices related to surcharges and expedite fees, which will be recorded as revenue in the period in which the related finished goods are shipped to the customer.