| Revenue |
Revenues are recognized when control of the promised services or goods is transferred to the Company’s customers, in an amount that reflects the consideration it expects to be entitled to in exchange for those services or goods. The following table presents the Company’s revenues disaggregated by revenue source:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
|
Nine Months Ended |
|
|
September 30, |
|
|
October 1, |
|
|
September 30, |
|
|
October 1, |
|
|
2023 |
|
|
2022 |
|
|
2023 |
|
|
2022 |
|
Digital Subscription Revenues |
$ |
140,889 |
|
|
$ |
155,881 |
|
|
$ |
437,613 |
|
|
$ |
521,582 |
|
Workshops + Digital Fees |
|
52,618 |
|
|
|
64,865 |
|
|
|
171,473 |
|
|
|
196,540 |
|
Clinical Subscription Revenues |
|
9,989 |
|
|
|
— |
|
|
|
17,581 |
|
|
|
— |
|
Subscription Revenues, net |
$ |
203,496 |
|
|
$ |
220,746 |
|
|
$ |
626,667 |
|
|
$ |
718,122 |
|
Product sales and other, net |
|
11,375 |
|
|
|
28,972 |
|
|
|
56,927 |
|
|
|
98,810 |
|
Revenues, net |
$ |
214,871 |
|
|
$ |
249,718 |
|
|
$ |
683,594 |
|
|
$ |
816,932 |
|
Segment information for the three and nine months ended October 1, 2022 presented below has been updated to reflect the new reportable segment structure. The following tables present the Company’s revenues disaggregated by revenue source and segment:
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|
|
|
|
|
|
|
|
|
|
|
Three Months Ended September 30, 2023 |
|
|
North America |
|
|
International |
|
|
Total |
|
Digital Subscription Revenues |
$ |
92,437 |
|
|
$ |
48,452 |
|
|
$ |
140,889 |
|
Workshops + Digital Fees |
|
42,867 |
|
|
|
9,751 |
|
|
|
52,618 |
|
Clinical Subscription Revenues |
|
9,989 |
|
|
|
— |
|
|
|
9,989 |
|
Subscription Revenues, net |
$ |
145,293 |
|
|
$ |
58,203 |
|
|
$ |
203,496 |
|
Product sales and other, net |
|
9,394 |
|
|
|
1,981 |
|
|
|
11,375 |
|
Revenues, net |
$ |
154,687 |
|
|
$ |
60,184 |
|
|
$ |
214,871 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended October 1, 2022 |
|
|
North America |
|
|
International |
|
|
Total |
|
Digital Subscription Revenues |
$ |
102,735 |
|
|
$ |
53,146 |
|
|
$ |
155,881 |
|
Workshops + Digital Fees |
|
52,113 |
|
|
|
12,752 |
|
|
|
64,865 |
|
Subscription Revenues, net |
$ |
154,848 |
|
|
$ |
65,898 |
|
|
$ |
220,746 |
|
Product sales and other, net |
|
21,621 |
|
|
|
7,351 |
|
|
|
28,972 |
|
Revenues, net |
$ |
176,469 |
|
|
$ |
73,249 |
|
|
$ |
249,718 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months Ended September 30, 2023 |
|
|
North America |
|
|
International |
|
|
Total |
|
Digital Subscription Revenues |
$ |
285,655 |
|
|
$ |
151,958 |
|
|
$ |
437,613 |
|
Workshops + Digital Fees |
|
138,639 |
|
|
|
32,834 |
|
|
|
171,473 |
|
Clinical Subscription Revenues |
|
17,581 |
|
|
|
— |
|
|
|
17,581 |
|
Subscription Revenues, net |
$ |
441,875 |
|
|
$ |
184,792 |
|
|
$ |
626,667 |
|
Product sales and other, net |
|
46,025 |
|
|
|
10,902 |
|
|
|
56,927 |
|
Revenues, net |
$ |
487,900 |
|
|
$ |
195,694 |
|
|
$ |
683,594 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months Ended October 1, 2022 |
|
|
North America |
|
|
International |
|
|
Total |
|
Digital Subscription Revenues |
$ |
342,489 |
|
|
$ |
179,093 |
|
|
$ |
521,582 |
|
Workshops + Digital Fees |
|
155,558 |
|
|
|
40,982 |
|
|
|
196,540 |
|
Subscription Revenues, net |
$ |
498,047 |
|
|
$ |
220,075 |
|
|
$ |
718,122 |
|
Product sales and other, net |
|
71,478 |
|
|
|
27,332 |
|
|
|
98,810 |
|
Revenues, net |
$ |
569,525 |
|
|
$ |
247,407 |
|
|
$ |
816,932 |
|
Information about Contract Balances For Subscription Revenues, the Company can collect payment in advance of providing services. Any amounts collected in advance of services being provided are recorded in deferred revenue. In the case where amounts are not collected, but the service has been provided and the revenue has been recognized, the amounts are recorded in accounts receivable. The opening and ending balances of the Company’s deferred revenues were as follows:
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|
|
|
|
|
|
|
|
|
Deferred |
|
|
Deferred |
|
|
|
Revenue |
|
|
Revenue-Long Term |
|
Balance as of December 31, 2022 |
|
$ |
32,156 |
|
|
$ |
360 |
|
Net increase (decrease) during the period |
|
|
289 |
|
|
|
(155 |
) |
Balance as of September 30, 2023 |
|
$ |
32,445 |
|
|
$ |
205 |
|
|
|
|
|
|
|
|
Balance as of January 1, 2022 |
|
$ |
45,855 |
|
|
$ |
28 |
|
Net (decrease) increase during the period |
|
|
(6,083 |
) |
|
|
11 |
|
Balance as of October 1, 2022 |
|
$ |
39,772 |
|
|
$ |
39 |
|
Revenue recognized from amounts included in current deferred revenue as of December 31, 2022 was $31,855 for the nine months ended September 30, 2023. Revenue recognized from amounts included in current deferred revenue as of January 1, 2022 was $44,375 for the nine months ended October 1, 2022. The Company’s long-term deferred revenue, which is included in other liabilities on the Company’s consolidated balance sheet, represents revenue that will not be recognized during the next 12 months and is generally related to upfront payments received as an inducement for entering into certain sales-based royalty agreements with third party licensees. This revenue is amortized on a straight-line basis over the term of the applicable agreement.
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