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Revenue (Tables)
6 Months Ended
Jun. 30, 2024
Revenue from Contract with Customer [Abstract]  
Schedule of Remaining Performance Obligations

 

(In thousands)

 

Less than 1 year

 

 

1 to 2 years

 

 

Beyond 2 years

 

 

Total

 

Performance obligations

 

$

63,534

 

 

$

3,084

 

 

$

2,589

 

 

$

69,207

 

 

Schedule of Contract Balances

The following table reflects the contract balances:

 

(In thousands)

 

Balance Sheet Location

 

June 30, 2024

 

 

December 31, 2023

 

Accounts receivable, net

 

Accounts receivable, net

 

$

147,069

 

 

$

185,059

 

Contract liabilities – current

 

Deferred revenue

 

$

28,682

 

 

$

27,091

 

Contract liabilities – non-current

 

Other non-current liabilities

 

$

5,534

 

 

$

4,903

 

Schedule of Net Revenue Disaggregated by Geographical Region and Sales Channel

In the following tables, net revenue is disaggregated by geographic region and sales channel. The Company conducts business across three geographic regions: Americas; Europe, Middle East and Africa (“EMEA”); and Asia Pacific (“APAC”). The tables also include reconciliations of the disaggregated revenue by reportable segment. The Company operates and reports in two segments: Connected Home and NETGEAR for Business (formerly known as Small and Medium Business, or SMB). Sales and usage-based taxes are excluded from net revenue.

 

 

 

Three Months Ended

 

 

 

 

June 30, 2024

 

 

July 2, 2023

 

 

(In thousands)

 

Connected
Home

 

 

NETGEAR for Business

 

 

Total

 

 

Connected
Home

 

 

NETGEAR for Business

 

 

Total

 

 

Geographic regions (1) :

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Americas

 

$

66,282

 

 

$

29,221

 

 

$

95,503

 

 

$

77,683

 

 

$

38,928

 

 

$

116,611

 

 

EMEA

 

 

8,958

 

 

 

18,397

 

 

 

27,355

 

 

 

11,317

 

 

 

24,844

 

 

 

36,161

 

 

APAC

 

 

8,793

 

 

 

12,249

 

 

 

21,042

 

 

 

9,406

 

 

 

11,235

 

 

 

20,641

 

 

Total

 

$

84,033

 

 

$

59,867

 

 

$

143,900

 

 

$

98,406

 

 

$

75,007

 

 

$

173,413

 

 

Sales channels:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Service provider

 

$

19,732

 

 

$

202

 

 

$

19,934

 

 

$

24,916

 

 

$

18

 

 

$

24,934

 

 

Non-service provider

 

 

64,301

 

 

 

59,665

 

 

 

123,966

 

 

 

73,490

 

 

 

74,989

 

 

 

148,479

 

 

Total

 

$

84,033

 

 

$

59,867

 

 

$

143,900

 

 

$

98,406

 

 

$

75,007

 

 

$

173,413

 

 

 

 

 

Six Months Ended

 

 

 

June 30, 2024

 

 

July 2, 2023

 

(In thousands)

 

Connected
Home

 

 

NETGEAR for Business

 

 

Total

 

 

Connected
Home

 

 

NETGEAR for Business

 

 

Total

 

Geographic regions (1):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Americas

 

$

144,277

 

 

$

61,154

 

 

$

205,431

 

 

$

161,684

 

 

$

76,849

 

 

$

238,533

 

EMEA

 

 

16,968

 

 

 

41,574

 

 

 

58,542

 

 

 

23,381

 

 

 

51,958

 

 

 

75,339

 

APAC

 

 

18,751

 

 

 

25,762

 

 

 

44,513

 

 

 

16,087

 

 

 

24,362

 

 

 

40,449

 

Total

 

$

179,996

 

 

$

128,490

 

 

$

308,486

 

 

$

201,152

 

 

$

153,169

 

 

$

354,321

 

Sales channels:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Service provider

 

$

47,285

 

 

$

445

 

 

$

47,730

 

 

$

38,943

 

 

$

208

 

 

$

39,151

 

Non-service provider

 

 

132,711

 

 

 

128,045

 

 

 

260,756

 

 

 

162,209

 

 

 

152,961

 

 

 

315,170

 

Total

 

$

179,996

 

 

$

128,490

 

 

$

308,486

 

 

$

201,152

 

 

$

153,169

 

 

$

354,321

 

 

(1) No individual foreign country represented more than 10% of the Companys total net revenue in the periods presented.