Note 3 - Revenue

3 Months Ended

Mar. 31, 2022

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, 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

	Three Months Ended March 31, 2021
	Connectivity Solutions		Power Solutions and Protection		Magnetic Solutions		Consolidated
By Geographic Region:
North America	$	29,542	$	29,777	$	7,077	$	66,396
Europe		6,747		9,959		1,248		17,954
Asia		1,767		3,905		20,621		26,293
	$	38,056	$	43,641	$	28,946	$	110,643
By Sales Channel:
Direct to customer	$	23,637	$	26,489	$	24,335	$	74,461
Through distribution		14,419		17,152		4,611		36,182
	$	38,056	$	43,641	$	28,946	$	110,643

The balances of the Company’s contract assets and contract liabilities at  March 31, 2022 and December 31, 2021 are as follows:

	March 31,		December 31,
	2022		2021
Contract assets - current (unbilled receivables)	$	20,556	$	28,275
Contract liabilities - current (deferred revenue)	$	3,977	$	2,224

The change in balance of our unbilled receivables from December 31, 2021 to March 31, 2022 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).

The aggregate amount of transaction price allocated to remaining performance obligations that have not been satisfied as of March 31, 2022 related to contracts that exceed one year in duration amounted to $61.5 million, with expected contract expiration dates that range from 2023 - 2025. It is expected that 88% of this aggregate amount will be recognized in 2023, 7% will be recognized in 2024 and the remainder will be recognized in years beyond 2024.