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Revenue and Accounts Receivable, Net
 6 Months Ended
Jun. 30, 2025
Receivables [Abstract]  
Revenue and Accounts Receivable, Net Revenue and Accounts Receivable, Net
Revenue Details    

The pattern of revenue recognition was as follows:
Three Months Ended June 30,Six Months Ended June 30,
(In thousands)2025202420252024
Goods and services transferred at a point in time$77,656 $75,982 $149,047 $150,386 
Goods and services transferred over time20,00914,47040,94431,966 
Net sales$97,665 $90,452 $189,991 $182,352 


Our net sales to external customers by channel were as follows:
Three Months Ended June 30,Six Months Ended June 30,
(In thousands)2025202420252024
Connected home (1)
$34,099 $23,291 $65,828 $47,462 
Home entertainment (2)
63,56667,161124,163134,890 
Net sales$97,665 $90,452 $189,991 $182,352 
(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.
Our net sales to external customers by geographic area were as follows:
Three Months Ended June 30,Six Months Ended June 30,
(In thousands)2025202420252024
United States$28,974 $18,910 $59,532 $45,622 
Asia (excluding PRC)22,19018,224 40,93737,108 
Europe26,11020,71546,80838,254
Latin America6,8089,48313,35817,724
PRC8,25517,41217,17331,813
Other5,3285,70812,18311,831
Total net sales$97,665 $90,452 $189,991 $182,352 

Specific identification of the customer billing location was the basis used for attributing revenues from external customers to geographic areas.

Accounts Receivable, Net

Accounts receivable, net were as follows:
(In thousands)June 30, 2025December 31, 2024
Trade receivables, gross$82,918 $93,773 
Allowance for credit losses(1,468)(1,863)
Allowance for sales returns(285)(383)
Trade receivables, net81,165 91,527 
Other (1)
16,275 22,655 
Accounts receivable, net (2)
$97,440 $114,182 
(1)Other accounts receivable is primarily comprised of supplier, supplier rebate and interest receivables.
(2)Accounts receivable, net at December 31, 2023 was $112.6 million.

Allowance for Credit Losses

Changes in the allowance for credit losses were as follows:
(In thousands)Six Months Ended June 30,
20252024
Balance at beginning of period$1,863 $815 
Additions (reductions) to costs and expenses19 — 
Cash receipts(266)— 
Write-offs/Foreign exchange effects(148)(16)
Balance at end of period$1,468 $799 

Contract Assets

Contract assets were $7.6 million and $10.3 million at June 30, 2025 and December 31, 2024, respectively. The change in balances between periods is due to the fluctuation of custom product inventory balances for which we have an enforceable right to payment for performance completed to date.
Contract Liabilities

We have current and non-current contract liability balances primarily consisting of cash received in advance of providing our cloud-based software services. Contract liabilities are included within other accrued liabilities and other long-term liabilities in our consolidated balance sheets.

Changes in the carrying amount of contract liabilities were as follows: 
(In thousands)Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Balance at beginning of period$4,285 $4,384 $3,237 $3,501 
Payments received656 1,626 2,849 3,463 
Revenue recognized(877)(1,287)(2,027)(2,225)
Foreign exchange effects4 (6)9 (22)
Balance at end of period$4,068 $4,717 $4,068 $4,717 

Significant Customers

Net sales to the following customers totaled more than 10% of our net sales: 
 Three Months Ended June 30,
20252024
 $ (thousands)% of Net Sales$ (thousands)% of Net Sales
Daikin Industries Ltd. $18,230 18.7 %$12,930 14.3 %
Comcast Communications$11,942 12.2 %
(1)
(1)
Sony Corporation
(1)
(1)
$9,577 10.6 %
(1)    Sales associated with this customer did not total more than 10% of our net sales for the indicated period.

 Six Months Ended June 30,
20252024
 $ (thousands)% of Net Sales$ (thousands)% of Net Sales
Daikin Industries Ltd. $34,594 18.2 %$25,039 13.7 %
Comcast Communications$22,291 11.7 %
(1)
(1)
(1)    Sales associated with this customer did not total more than 10% of our net sales for the indicated period.

Trade receivables associated with this significant customer that totaled more than 10% of our accounts receivable, net was as follows:
June 30, 2025December 31, 2024
$ (thousands)% of Accounts Receivable, Net$ (thousands)% of Accounts Receivable, Net
Daikin Industries Ltd. $10,989 11.3 %
(1)
(1)
(1) Trade receivables associated with this customer did not total more than 10% of our accounts receivable, net for the indicated period.