YETI Holdings, Inc.YETI

YETI Holdings, Inc. Revenue Disclosure

10-KFiled Feb 27, 20262 min read
REVENUE
Contract Balances
Accounts receivable represent an unconditional right to receive consideration from a customer and are recorded at net invoiced amounts, less an estimated allowance for credit losses.

Contract liabilities are recorded when the customer pays consideration before the transfer of a good to the customer and thus represent our obligation to transfer the good to the customer at a future date. Our contract liabilities include advance cash deposits received from customers for certain customized product orders and unredeemed gift card liabilities. As products are shipped and control transfers, we recognize contract liabilities as revenue.

The following table provides information about accounts receivable and contract liabilities at the periods indicated (in thousands):
January 3, 2026December 28,
2024
Accounts receivable, net$141,424 $120,190 
Contract liabilities(9,535)(10,462)
During the year ended January 3, 2026, we recognized $10.5 million of revenue that was previously included in the contract liability balance at the beginning of the period.
Disaggregation of Revenue
The following table disaggregates our net sales by channel, product category, and geography for the periods indicated (in thousands):
2025(1)
2024(1)
2023(1)
Net Sales by Channel:
Wholesale$740,703 $742,278 $661,000 
Direct-to-consumer1,127,791 1,087,595 997,713 
Total net sales$1,868,494 $1,829,873 $1,658,713 
Net Sales by Category:
Coolers & Equipment$748,523 $698,606 $597,511 
Drinkware1,085,838 1,094,165 1,022,982 
Other34,133 37,102 38,220 
Total net sales$1,868,494 $1,829,873 $1,658,713 
Net Sales by Geographic Region(2):
United States$1,474,141 $1,490,468 $1,398,925 
International394,353 339,405 259,788 
Total net sales$1,868,494 $1,829,873 $1,658,713 
_______________________________________
(1)Includes the impact from the recall reserve adjustment. See Note 12 for further discussion of our product recalls.
(2)Net sales by geographic region is based on end-consumer location.
No individual customer accounted for 10% or more of our gross sales during 2025, 2024, and 2023.
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Historical Timeline

Fiscal YearFiled
2026Feb 27, 2026Showing above
2024Feb 24, 2025
2022Feb 27, 2023
2019Feb 18, 2020

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.

Other Available Disclosures

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