Revenues
Disaggregation of revenue
We disaggregate revenue from contracts with customers by product line and ship to location of the customer. Sales are designated in the product line categories of Audio and High-Performance Mixed-Signal ("HPMS").
Total net sales based on the product line disaggregation criteria described above are shown in the table below (in thousands).
| | | | | | | | | | | | | | | | | | | | |
| | Fiscal Years Ended |
| | March 28, 2026 | | March 29, 2025 | | March 30, 2024 |
| Audio Products | | $ | 1,159,933 | | | $ | 1,137,157 | | | $ | 1,083,939 | |
| HPMS Products | | 837,446 | | | 758,920 | | | 704,951 | |
| Total | | $ | 1,997,379 | | | $ | 1,896,077 | | | $ | 1,788,890 | |
The geographic regions that are reviewed are China, the United States, and the rest of the world.
Total net sales based on the geographic disaggregation criteria described are as follows (in thousands):
| | | | | | | | | | | | | | | | | |
| Fiscal Years Ended |
| March 28, | | March 29, | | March 30, |
| 2026 | | 2025 | | 2024 |
| China | $ | 1,066,874 | | | $ | 1,126,367 | | | $ | 1,114,310 | |
| United States | 14,870 | | | 15,838 | | | 17,971 | |
| Rest of World | 915,635 | | | 753,872 | | | 656,609 | |
| Total | $ | 1,997,379 | | | $ | 1,896,077 | | | $ | 1,788,890 | |
See Note 2 - Summary of Significant Accounting Policies for additional discussion surrounding revenue recognition considerations.
About Revenue Disclosures
Revenue disclosures under ASC 606 explain how a company identifies performance obligations, allocates transaction prices, and determines when revenue is recognized. This section is essential for understanding whether reported revenue reflects genuine economic activity or aggressive accounting choices. Analysts examine the mix of point-in-time versus over-time recognition, which directly affects revenue timing and comparability.
Key signals: rising contract liabilities (deferred revenue) suggest strong future revenue visibility, while declining contract assets may indicate slowing project milestones. Watch for variable consideration estimates — rebates, returns, and performance bonuses that require management judgment. Significant changes in disaggregated revenue by geography or product line can reveal shifting business mix before it appears in headline numbers. Compare revenue growth against contract liability growth to assess sustainability, and scrutinize any changes in the timing of recognition that coincide with earnings pressure.