Accounts Receivable and Contract Assets, Net

6 Months Ended

Jun. 30, 2023

Accounts Receivable, after Allowance for Credit Loss [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, 2023			December 31, 2022
Accounts receivable amortized cost	$	105,278		$	127,298
Allowance for credit losses		(8,596	)		(7,312	)
Net accounts receivable	$	96,682		$	119,986

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,
	2023			2022			2023			2022
Balance, beginning of period	$	(7,930	)	$	(6,773	)	$	(7,312	)	$	(6,922	)
Provision for expected credit losses, net		(1,242	)		(247	)		(2,170	)		(396	)
Write-offs, net		576			335			886			633
Balance, end of period	$	(8,596	)	$	(6,685	)	$	(8,596	)	$	(6,685	)

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, 2023			December 31, 2022
Contract asset amortized cost	$	11,662		$	8,525
Allowance for credit losses		(1,003	)		(1,015	)
Net contract asset	$	10,659		$	7,510

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,
	2023			2022			2023			2022
Balance, beginning of period	$	(996	)	$	(1,270	)	$	(1,015	)	$	(1,160	)
Provision for expected credit losses, net		—			169			—			38
Write-offs, net		(7	)		34			12			55
Balance, end of period	$	(1,003	)	$	(1,067	)	$	(1,003	)	$	(1,067	)

Credit loss expense was $0.7 million and $0.1 million for the three months ended June 30, 2023 and 2022, respectively. Credit loss expense was $2.3 million and $0.3 million for the six months ended June 30, 2023 and 2022, respectively.

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

	Three Months Ended June 30,						Six Months Ended June 30,
	2023			2022			2023			2022
Balance, beginning of period	$	(425	)	$	(250	)	$	(425	)	$	(250	)
Additions		—			(1	)		—			(1	)
Balance, end of period	$	(425	)	$	(251	)	$	(425	)	$	(251	)