Accounts Receivable and Contract Assets, Net

3 Months Ended

Mar. 31, 2024

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
	March 31, 2024			December 31, 2023
Accounts receivable amortized cost	$	107,369		$	125,522
Allowance for credit losses		(5,649	)		(6,133	)
Net accounts receivable	$	101,720		$	119,389

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

	Three Months Ended March 31,
	2024			2023
Balance, beginning of period	$	(6,133	)	$	(7,312	)
(Provision for) benefit from expected credit losses, net		163			(928	)
Write-offs		321			310
Balance, end of period	$	(5,649	)	$	(7,930	)

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
	March 31, 2024			December 31, 2023
Contract asset amortized cost	$	6,511		$	9,001
Allowance for credit losses		(579	)		(606	)
Net contract asset	$	5,932		$	8,395

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

	Three Months Ended March 31,
	2024			2023
Balance, beginning of period	$	(606	)	$	(1,015	)
Write-offs		27			19
Balance, end of period	$	(579	)	$	(996	)

Credit loss expense was $0.4 million and $1.6 million for the three months ended March 31, 2024 and 2023, respectively.

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

	Three Months Ended March 31,
	2024			2023
Balance, beginning of period	$	(425	)	$	(425	)
Write-offs		197			—
Balance, end of period	$	(228	)	$	(425	)