Revenues

12 Months Ended

Mar. 31, 2022

Revenue from Contract with Customer [Abstract]

Revenues

REVENUES

Our revenues from contracts with customers disaggregated by revenue source, excluding sales-based taxes, were as follows (in thousands):

	Year Ended March 31,		Three-Months Ended March 31, (transition period)		Year Ended December 31,
	2022		2021		2020		2019
Product sales	$	567,914	$	199,755	$	534,758	$	296,447
Extended warranties and services	7,053		2,860		8,157		6,691
Other(1)	14,567		3,460		9,645		6,147
Net sales	$	589,534	$	206,075	$	552,560	$	309,285

(1) Other revenue is primarily subscription revenue, freight and delivery and royalty income.

Subscriptions

Sales of our subscriptions are deemed to be one performance obligation and we recognize revenue from these arrangements ratably over the subscription term as the performance obligation is satisfied. Revenue generated from subscriptions is recorded in our Direct segment.

We offer free trials of subscriptions, bundled with product offerings (e.g., subscription for premium content). For these types of transactions that involve multiple performance obligations, the transaction price require allocations to the distinct performance obligation, as the free trial provides a material right. The transaction price is then allocated to each performance obligation based on standalone selling price. We determine stand-alone selling price based on prices charged to customers. Breakage is factored into the determination of the stand-alone selling price of a subscription. Breakage or activation rate, is defined as a percentage of those that never activate a free-trial offering.

Our revenues disaggregated by geographic region, based on ship-to address, were as follows (in thousands):

	Year Ended March 31,		Three-Months Ended March 31, (transition period)		Year Ended December 31,
	2022		2021		2020		2019
United States	$	460,237	$	156,607	$	461,521	$	256,182
Canada	74,883		26,987		43,196		24,768
Europe, the Middle East and Africa	41,026		18,477		36,166		17,303
All other	13,388		4,004		11,677		11,032
Net sales	$	589,534	$	206,075	$	552,560	$	309,285

As of March 31, 2022, estimated revenue expected to be recognized in the future totaled $32.9 million, primarily related to customer order backlog, which includes firm orders for future shipment and unfulfilled orders to our Retail customers, as well as unfulfilled consumer orders within the Direct channel. As of March 31, 2022, Retail orders were $32.1 million, as retailers are now ordering closer to need compared to last year and Direct orders of $0.8 million as product demand declines. The estimated future revenues are net of contractual rebates and consideration payable for applicable Retail customers, and net of current promotional programs and sales discounts for our Direct customers.

The following table provides information about our liabilities from contracts with customers, primarily customer deposits and deferred revenue for which advance consideration is received prior to the transfer of control or the performance obligation is not satisfied. Revenue is recognized when transfer of control occurs. All customer deposits and deferred revenue received are short-term in nature, recognized over the next twelve months. Significant changes in contract liabilities balances, including revenue recognized in the reporting period that was included in opening contract liabilities, are shown below (in thousands):

	Year Ended March 31,		Three-Months Ended March 31, (transition period)		Year Ended December 31,
	2022		2021		2020		2019
Balance, beginning	$	5,551	$	6,392	$	1,225	$	816
Cash additions	4,537		4,739		9,148		2,330
Deferred revenue	6,875		—		—		—
Revenue recognition	(10,678)		(5,580)		(3,981)		(1,921)
Balance, ending	$	6,285	$	5,551	$	6,392	$	1,225