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 twenty-six weeks ended July 29, 2023 and July 30, 2022 (in thousands): Thirteen Weeks Ended July 29, 2023 VB Direct Segment VB Indirect Segment Pura Vida Segment Total Product categories Bags $ 35,396 $ 9,628 $ 176 $ 45,200 Travel 19,960 3,479 — 23,439 Accessories 15,140 1,987 23,672 40,799 Home 9,138 953 — 10,091 Apparel/Footwear 4,043 323 470 4,836 Other 2,025 (1) 993 (2) 789 (3) 3,807 Total net revenues $ 85,702 (4) $ 17,363 (5) $ 25,107 (4) $ 128,172 (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) $16.7 million of net revenues related to product sales recognized at a point in time and $0.7 million of net revenues related to sales-based royalties recognized over time. Thirteen Weeks Ended July 30, 2022 VB Direct Segment VB Indirect Segment Pura Vida Segment Total Product categories Bags $ 38,373 $ 9,603 $ 779 $ 48,755 Travel 20,071 3,033 — 23,104 Accessories 15,757 2,636 23,269 41,662 Home 8,726 732 — 9,458 Apparel/Footwear (6) 2,161 360 1,359 3,880 Other 1,925 (1) 961 (2) 626 (3) 3,512 Total net revenues $ 87,013 (4) $ 17,325 (5) $ 26,033 (4) $ 130,371 (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) $16.6 million of net revenues related to product sales recognized at a point in time and $0.7 million of net revenues related to sales-based royalties recognized over time. (6) Includes mask sales. Twenty-Six Weeks Ended July 29, 2023 VB Direct Segment VB Indirect Segment Pura Vida Segment Total Product categories Bags $ 58,297 $ 17,956 $ 237 $ 76,490 Travel 35,366 6,658 — 42,024 Accessories 25,634 3,945 42,683 72,262 Home 15,066 1,541 — 16,607 Apparel/Footwear 6,990 784 760 8,534 Other 3,254 (1) 1,852 (2) 1,511 (3) 6,617 Total net revenues $ 144,607 (4) $ 32,736 (5) $ 45,191 (4) $ 222,534 (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) $31.3 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. Twenty-Six Weeks Ended July 30, 2022 VB Direct Segment VB Indirect Segment Pura Vida Segment Total Product categories Bags $ 64,505 $ 19,054 $ 842 $ 84,401 Travel 35,159 6,106 — 41,265 Accessories 27,256 4,404 42,129 73,789 Home 14,448 1,858 — 16,306 Apparel/Footwear (6) 4,064 860 1,795 6,719 Other 3,217 (1) 2,020 (2) 1,113 (3) 6,350 Total net revenues $ 148,649 (4) $ 34,302 (5) $ 45,879 (4) $ 228,830 (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) $32.8 million of net revenues related to product sales recognized at a point in time and $1.5 million of net revenues related to sales-based royalties recognized over time. (6) Includes mask sales. Contract Balances Contract liabilities as of July 29, 2023 and January 28, 2023, were $2.5 million and $3.2 million, respectively. The balance as of July 29, 2023 and January 28, 2023 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 July 29, 2023 and January 28, 2023. The balance for accounts receivable from contracts with customers, net of allowances, as of July 29, 2023 and January 28, 2023, was $23.4 million and $20.7 million, respectively, which is recognized within accounts receivable, net, on the Company’s Condensed Consolidated Balance Sheets. The provision for doubtful accounts was $0.8 million as of July 29, 2023 and January 28, 2023. 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 July 29, 2023. |