Quarterly report pursuant to Section 13 or 15(d)

Revenue from Contracts with Customers

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Revenue from Contracts with Customers
 6 Months Ended
Jun. 30, 2020
Revenue from Contracts with Customers [Abstract]  
Revenue from Contracts with Customers Revenue from Contracts with Customers
Revenue by Market
The table below presents disaggregated net revenues by market (in thousands):
Three Months Ended June 30, Six Months Ended June 30,
2020 2019 2020 2019
Connected home $ 29,068    $ 38,593    $ 61,322    $ 82,025   
% of net revenue 45  % 47  % 48  % 49  %
Infrastructure 19,238    22,571    36,779    44,673   
% of net revenue 29  % 27  % 29  % 27  %
Industrial and multi-market 16,914    21,343    29,146    40,444   
% of net revenue 26  % 26  % 23  % 24  %
Total net revenue $ 65,220    $ 82,507    $ 127,247    $ 167,142   
Revenues from sales through the Company’s distributors accounted for 64% and 49% of net revenue for the three months ended June 30, 2020 and 2019, respectively.
Revenues from sales through the Company’s distributors accounted for 63% and 45% of net revenue for the six months ended June 30, 2020 and 2019, respectively.
Contract Liabilities
As of June 30, 2020 and December 31, 2019, customer contract liabilities consist of estimates of obligations to deliver rebates to customers in the form of units of products and were approximately $0.01 million and $0.1 million. Revenue recognized in each of the three and six months ended June 30, 2020 and 2019 that was included in the contract liability balance as of the beginning of each of those respective periods was immaterial.
There were no material changes in the contract liabilities balance during the three and six months ended June 30, 2020 and 2019.
Obligations to Customers for Price Adjustments and Returns and Assets for Right-of-Returns
As of June 30, 2020 and December 31, 2019, obligations to customers consisting of estimates of price protection rights offered to the Company’s end customers totaled $5.9 million and $12.6 million, respectively, and are included in accrued price protection liability in the consolidated balance sheets. For activity in this account, including amounts included in net revenue, refer to Note 6. Other obligations to customers representing estimates of price adjustments to be claimed by distributors upon sell-through of their inventory to their end customer and estimates of stock rotation returns to be claimed by distributors on products sold as of June 30, 2020 were $8.0 million and $1.1 million, respectively, and as of December 31, 2019 were $8.4 million and $1.4 million, respectively, and are included in accrued expenses and other current liabilities in the consolidated balance sheets (Note 6). The increase in revenue in the three and six months ended June 30, 2020 and 2019 from net changes in transaction prices for amounts included in obligations to customers for price adjustments as of the beginning of those respective periods was not material.
As of June 30, 2020 and December 31, 2019, right of return assets under customer contracts representing the estimates of product inventory the Company expects to receive from customers in stock rotation returns were approximately $0.2 million and $0.3 million, respectively. Right of return assets are included in inventory in the consolidated balance sheets.
As of June 30, 2020 and December 31, 2019, there were no impairment losses recorded on customer accounts receivable.