TTM TECHNOLOGIES INC Revenue Disclosure
For contracts in which anticipated total costs exceed the total expected revenue, an estimated loss is recognized in the period when identifiable. A provision for the entire amount of the estimated loss is recorded on a cumulative basis. The estimated remaining costs to complete for loss contracts as of December 29, 2025 and December 30, 2024 were $33,163 and $36,976, respectively.
As of December 29, 2025, the aggregate amount of the transaction price allocated to remaining performance obligations for long‑term contracts was $415,062. The Company expects to recognize revenue on approximately 62% of the remaining performance obligations for the Company’s long-term contracts over the next 12 months with the remaining amount expected to be recognized thereafter. The remaining performance obligations for the Company’s short‑term contracts are expected to be recognized within one year, and the Company is applying the optional exemption to not disclose the amount of transaction price allocated to the remaining performance obligations for contracts with an expected duration of one year or less.
Contract Balances
As of December 29, 2025, total contract assets were $472,255, of which $468,006 are expected to be collected within one year and recorded as contract assets and $4,249 are expected to be collected after one year and included as a component of deposits and other non-current assets on the consolidated balance sheets. As of December 30, 2024, total contract assets were $386,817, of which $381,382 were expected to be collected within one year and recorded as contract assets and $5,435 were expected to be collected after one year and included as a component of deposits and other non-current assets on the consolidated balance sheets. The increase in total contract assets in 2025 is primarily due to recognition of revenues for which invoicing had not yet occurred. In 2025, there were no material impairment losses on contract assets.
Contract liabilities were $175,627 and $170,915 as of December 29, 2025 and December 30, 2024, respectively, and represent customer advances for work yet to be performed. The contract liabilities increased by $4,712 due to timing of customer billings and/or payments. Revenue recognized for the year ended December 29, 2025 from amounts recorded as contract liabilities as of December 30, 2024 was $106,638.
Disaggregated Revenue
Revenue from products and services transferred to customers over time and at a point in time accounted for 96% and 4%, respectively, of the Company’s revenue in 2025, 2024, and 2023.
Disaggregated revenue by principal end markets within reportable segments was as follows:
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For the Year Ended December 29, 2025 |
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A&D |
|
|
Commercial |
|
|
RF&S Components |
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Total |
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(In thousands) |
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End Markets (1): |
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|
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|
|
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Aerospace and Defense |
|
$ |
1,281,536 |
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|
$ |
— |
|
|
$ |
— |
|
|
$ |
1,281,536 |
|
Automotive |
|
|
— |
|
|
|
302,194 |
|
|
|
— |
|
|
|
302,194 |
|
Data Center Computing |
|
|
— |
|
|
|
682,374 |
|
|
|
1,019 |
|
|
|
683,393 |
|
Medical/Industrial/Instrumentation |
|
|
— |
|
|
|
405,132 |
|
|
|
4,329 |
|
|
|
409,461 |
|
Networking |
|
|
— |
|
|
|
195,151 |
|
|
|
34,610 |
|
|
|
229,761 |
|
Total |
|
$ |
1,281,536 |
|
|
$ |
1,584,851 |
|
|
$ |
39,958 |
|
|
$ |
2,906,345 |
|
|
|
For the Year Ended December 30, 2024 |
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|
|
A&D |
|
|
Commercial |
|
|
RF&S Components |
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Total |
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(In thousands) |
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End Markets (1): |
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|
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Aerospace and Defense |
|
$ |
1,130,781 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
1,130,781 |
|
Automotive |
|
|
— |
|
|
|
315,125 |
|
|
|
— |
|
|
|
315,125 |
|
Data Center Computing |
|
|
— |
|
|
|
500,798 |
|
|
|
619 |
|
|
|
501,417 |
|
Medical/Industrial/Instrumentation |
|
|
— |
|
|
|
332,346 |
|
|
|
2,809 |
|
|
|
335,155 |
|
Networking |
|
|
— |
|
|
|
126,565 |
|
|
|
33,710 |
|
|
|
160,275 |
|
Total |
|
$ |
1,130,781 |
|
|
$ |
1,274,834 |
|
|
$ |
37,138 |
|
|
$ |
2,442,753 |
|
|
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For the Year Ended January 1, 2024 |
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A&D |
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Commercial |
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RF&S Components |
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Total |
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(In thousands) |
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End Markets (1): |
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|
|
|
|
|
|
|
|
|
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Aerospace and Defense |
|
$ |
1,030,491 |
|
|
$ |
— |
|
|
$ |
18 |
|
|
$ |
1,030,509 |
|
Automotive |
|
|
— |
|
|
|
351,477 |
|
|
|
— |
|
|
|
351,477 |
|
Data Center Computing |
|
|
— |
|
|
|
313,378 |
|
|
|
51 |
|
|
|
313,429 |
|
Medical/Industrial/Instrumentation |
|
|
— |
|
|
|
357,264 |
|
|
|
3,448 |
|
|
|
360,712 |
|
Networking |
|
|
— |
|
|
|
141,436 |
|
|
|
35,004 |
|
|
|
176,440 |
|
Total |
|
$ |
1,030,491 |
|
|
$ |
1,163,555 |
|
|
$ |
38,521 |
|
|
$ |
2,232,567 |
|
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 17, 2026 | Showing above |
| 2024 | Feb 21, 2025 | |
| 2018 | Feb 26, 2019 | |
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.