Revenue from Contracts with Customers | Revenue from Contracts with Customers Disaggregation of Revenue The f ollowing presents the Company's net revenues disaggregated by product category for the thirteen and thirty-nine weeks ended November 2, 2024 and October 28, 2023 (in thousands): Thirteen Weeks Ended November 2, 2024 VB Direct Segment VB Indirect Segment Pura Vida Segment Total Product categories Bags $ 23,326 $ 10,294 $ 21 $ 33,641 Travel 12,968 4,321 — 17,289 Accessories 8,704 1,764 9,721 20,189 Home 4,542 818 — 5,360 Apparel/Footwear 1,585 325 82 1,992 Other 1,350 (1) 486 (2) 271 (3) 2,107 Total net revenues $ 52,475 (4) $ 18,008 (5) $ 10,095 (4) $ 80,578 (1) Primarily includes net revenues from stationery, freight, and gift card breakage. (2) Primarily includes net revenues from licensing agreements, freight, and merchandising. (3) Related to freight. (4) Net revenues were related to product sales recognized at a point in time. (5) $17.6 million of net revenues related to product sales recognized at a point in time and $0.4 million of net revenues related to sales-based royalties recognized over time. Thirteen Weeks Ended October 28, 2023 VB Direct Segment VB Indirect Segment Pura Vida Segment Total Product categories Bags $ 30,970 $ 13,167 $ 111 $ 44,248 Travel 15,374 5,038 — 20,412 Accessories 12,782 3,566 16,757 33,105 Home 7,824 1,415 — 9,239 Apparel/Footwear 3,601 1,081 357 5,039 Other 1,758 (1) 719 (2) 467 (3) 2,944 Total net revenues $ 72,309 (4) $ 24,986 (5) $ 17,692 (4) $ 114,987 (1) Primarily includes net revenues from stationery, freight, and gift card breakage. (2) Primarily includes net revenues from licensing agreements, freight, and merchandising. (3) Related to freight. (4) Net revenues were related to product sales recognized at a point in time. (5) $24.5 million of net revenues related to product sales recognized at a point in time and $0.5 million of net revenues related to sales-based royalties recognized over time. Thirty-Nine Weeks Ended November 2, 2024 VB Direct Segment VB Indirect Segment Pura Vida Segment Total Product categories Bags $ 79,290 $ 29,912 $ 57 $ 109,259 Travel 44,633 10,663 — 55,296 Accessories 30,493 5,869 38,197 74,559 Home 15,795 2,103 — 17,898 Apparel/Footwear 6,357 1,051 385 7,793 Other 4,572 (1) 1,696 (2) 930 (3) 7,198 Total net revenues $ 181,140 (4) $ 51,294 (5) $ 39,569 (4) $ 272,003 (1) Primarily includes net revenues from stationery, freight, and gift card breakage. (2) Primarily includes net revenues from licensing agreements, freight, and merchandising. (3) Related to freight. (4) Net revenues were related to product sales recognized at a point in time. (5) $49.9 million of net revenues related to product sales recognized at a point in time and $1.4 million of net revenues related to sales-based royalties recognized over time. Thirty-Nine Weeks Ended October 28, 2023 VB Direct Segment VB Indirect Segment Pura Vida Segment Total Product categories Bags $ 89,267 $ 31,123 $ 348 $ 120,738 Travel 50,740 11,696 — 62,436 Accessories 38,416 7,511 59,440 105,367 Home 22,890 2,956 — 25,846 Apparel/Footwear 10,591 1,865 1,117 13,573 Other 5,012 (1) 2,571 (2) 1,978 (3) 9,561 Total net revenues $ 216,916 (4) $ 57,722 (5) $ 62,883 (4) $ 337,521 (1) Primarily includes net revenues from stationery, freight, and gift card breakage. (2) Primarily includes net revenues from licensing agreements and freight. (3) Related to freight. (4) Net revenues were related to product sales recognized at a point in time. (5) $55.8 million of net revenues related to product sales recognized at a point in time and $1.9 million of net revenues related to sales-based royalties recognized over time. Contract Balances Contract liabilities as of November 2, 2024 and February 3, 2024, were $2.0 million and $2.6 million, respectively. The balance as of November 2, 2024 and February 3, 2024 consisted of unredeemed gift cards, unearned revenue related to the monthly bracelet and jewelry clubs of the Pura Vida segment, Pura Vida loyalty club points, and Pura Vida customer deposits and payments collected before shipment. These contract liabilities are recognized within other accrued liabilities on the Company’s Condensed Consolidated Balance Sheets. Substantially all contract liabilities are recognized within one year. The Company did not have contract assets as of November 2, 2024 and February 3, 2024. The balance for accounts receivable from contracts with customers, net of allowances, as of November 2, 2024 and February 3, 2024, was $23.8 million and $16.4 million, respectively, which is recognized within accounts receivable, net, on the Company’s Condensed Consolidated Balance Sheets. The provision for doubtful accounts was $1.1 million as of November 2, 2024 and February 3, 2024, respectively. The provision for doubtful accounts is based upon the likelihood of default expected during the life of the receivable. Performance Obligations The performance obligations for the VB Direct, VB Indirect, and Pura Vida segments include the promise to transfer distinct goods (or a bundle of distinct goods). The VB Indirect segment also includes the right to access intellectual property (“IP”) related to the Vera Bradley brand. Remaining Performance Obligations The Company does not have remaining performance obligations in excess of one year or contracts that it does not have the right to invoice as of November 2, 2024. |