Accounts Receivable and Contract Assets, Net

6 Months Ended

Jun. 30, 2022

Accounts Receivable Net [Abstract]

Accounts Receivable and Contract Assets, Net

(3) Accounts Receivable and Contract Assets, Net

Accounts receivable, net is as follows (in thousands):

	As of			As of
	June 30, 2022			December 31, 2021
Accounts receivable amortized cost	$	104,466		$	127,917
Allowance for credit losses		(6,685	)		(6,922	)
Net accounts receivable	$	97,781		$	120,995

The following table summarizes the changes in the allowance for credit losses for accounts receivable (in thousands):

	Three Months Ended June 30,						Six Months Ended June 30,
	2022			2021			2022			2021
Balance, beginning of period	$	(6,773	)	$	(4,772	)	$	(6,922	)	$	(3,788	)
Provision for expected credit losses		(247	)		(405	)		(396	)		(1,417	)
Write-offs, net		335			(66	)		633			(38	)
Balance, end of period	$	(6,685	)	$	(5,243	)	$	(6,685	)	$	(5,243	)

Contract assets, net, included in deferred costs and other current assets on the condensed consolidated balance sheets is as follows (in thousands):

	As of			As of
	June 30, 2022			December 31, 2021
Contract asset amortized cost	$	7,813		$	8,569
Allowance for credit losses		(1,067	)		(1,160	)
Net contract asset	$	6,746		$	7,409

The following table summarizes the changes in the allowance for credit losses for contract assets (in thousands):

	Three Months Ended June 30,						Six Months Ended June 30,
	2022			2021			2022			2021
Balance, beginning of period	$	(1,270	)	$	(842	)	$	(1,160	)	$	(398	)
Provision for expected credit losses, net		169			(29	)		38			(473	)
Write-offs		34			30			55			30
Balance, end of period	$	(1,067	)	$	(841	)	$	(1,067	)	$	(841	)

Credit loss expense was $0.1 million and $0.1 million for the three months ended June 30, 2022 and 2021, respectively. Credit loss expense was $0.3 million and $1.5 million for the six months ended June 30, 2022 and 2021, respectively. Subsequent to June 30, 2022, the Company received payment from a customer reducing accounts receivable provision for expected credit losses and credit loss expense by $1.4 million.

The following table summarizes the changes in the sales reserve (in thousands):

	Three Months Ended June 30,						Six Months Ended June 30,
	2022			2021			2022			2021
Balance, beginning of period	$	(250	)	$	(149	)	$	(250	)	$	(175	)
Additions		(1	)		(259	)		(1	)		(259	)
Write-offs		—			8			—			34
Balance, end of period	$	(251	)	$	(400	)	$	(251	)	$	(400	)