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Revenue and Accounts Receivable, Net
 9 Months Ended
Sep. 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 September 30,Nine Months Ended September 30,
(In thousands)2025202420252024
Goods and services transferred at a point in time$75,652 $85,186 $224,699 $235,572 
Goods and services transferred over time14,90016,88755,84448,853 
Net sales$90,552 $102,073 $280,543 $284,425 

Our net sales to external customers by channel were as follows:
Three Months Ended September 30,Nine Months Ended September 30,
(In thousands)2025202420252024
Connected home (1)
$29,793 $26,368 $95,621 $73,830 
Home entertainment (2)
60,75975,705184,922210,595 
Net sales$90,552 $102,073 $280,543 $284,425 
(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 September 30,Nine Months Ended September 30,
(In thousands)2025202420252024
United States$24,926 $25,833 $84,458 $71,455 
Asia (excluding PRC)21,84320,785 62,78057,893 
Europe23,35122,58370,15960,837
Latin America6,7379,16420,09526,888
PRC8,28717,74725,46049,560
Other5,4085,96117,59117,792
Total net sales$90,552 $102,073 $280,543 $284,425 

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)September 30, 2025December 31, 2024
Trade receivables, gross$73,422 $93,773 
Allowance for credit losses(1,213)(1,863)
Allowance for sales returns(283)(383)
Trade receivables, net71,926 91,527 
Other (1)
11,874 22,655 
Accounts receivable, net (2)
$83,800 $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)Nine Months Ended September 30,
20252024
Balance at beginning of period$1,863 $815 
Additions (reductions) to costs and expenses161 17 
Cash receipts(665)— 
Write-offs/Foreign exchange effects(146)9 
Balance at end of period$1,213 $841 

Contract Assets

Contract assets were $5.7 million and $10.3 million at September 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 September 30,Nine Months Ended September 30,
2025202420252024
Balance at beginning of period$4,068 $4,717 $3,237 $3,501 
Payments received502 981 3,351 4,444 
Revenue recognized(1,038)(1,697)(3,065)(3,922)
Foreign exchange effects1 31 10 9 
Balance at end of period$3,533 $4,032 $3,533 $4,032 
Significant Customers

Net sales to the following customers totaled more than 10% of our net sales: 
 Three Months Ended September 30,
20252024
 $ (thousands)% of Net Sales$ (thousands)% of Net Sales
Daikin Industries Ltd. $18,576 20.5 %$12,620 12.4 %
Comcast Communications$13,489 14.9 %
(1)
(1)
Sony Corporation
(1)
(1)
$10,841 10.6 %
(1)    Sales associated with this customer did not total more than 10% of our net sales for the indicated period.

 Nine Months Ended September 30,
20252024
 $ (thousands)% of Net Sales$ (thousands)% of Net Sales
Daikin Industries Ltd. $53,171 19.0 %$37,658 13.2 %
Comcast Communications$35,780 12.8 %
(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:
September 30, 2025December 31, 2024
$ (thousands)% of Accounts Receivable, Net$ (thousands)% of Accounts Receivable, Net
Daikin Industries Ltd. $10,502 12.5 %
(1)
(1)
Comcast Communications$9,133 10.9 %
(1)
(1)
(1) Trade receivables associated with this customer did not total more than 10% of our accounts receivable, net for the indicated period.