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ACCOUNTS RECEIVABLE
 12 Months Ended
Dec. 31, 2023
Receivables [Abstract]  
ACCOUNTS RECEIVABLE ACCOUNTS RECEIVABLE
Accounts receivable, net of allowances, consisted of the following:
 As of December 31,
(in thousands)20232022
Accounts receivable$144,731 $110,576 
Less: allowance for expected credit losses and sales returns(3,200)(2,149)
Total$141,531 $108,427 
Trade accounts receivable are recorded at invoiced amounts and do not bear interest. The Company generally does not require collateral and performs ongoing credit evaluations of its customers and provides for expected losses. The Company maintains an allowance for expected credit losses based upon the expected collectability of its accounts receivable. The expectation of collectability is based on the Company’s review of credit profiles of customers, contractual terms and conditions, current economic trends and historical payment experience. The Company offers return rights which are specifically identified and accrued for as sales returns at the end of the period.
The following table is a summary of activities in allowances for expected credit losses and sales returns:
(in thousands)Balance at
Beginning of
Period		Charges to
Revenue		Charges to
Expense		Deductions
from Reserves		Balance at End
of Period
Year ended December 31,
2023$2,149 $1,224 $1,554 $(1,727)$3,200 
2022$2,853 $1,118 $836 $(2,658)$2,149 
2021$2,068 $2,609 $1,533 $(3,357)$2,853 
On September 29, 2023, the Company entered into a Master Receivable Purchase Agreement with JPMorgan Chase Bank, N.A. (“JPM”), as purchaser. The agreement allows the Company, from time to time, to sell certain eligible billed receivables in an aggregate outstanding amount of up to $30 million to JPM. The purchase price of the receivables is equal to the net invoice amount less a financing charge. The Company accounts for the transfers as sales under ASC 860, Transfers and Servicing, derecognize the receivables from its consolidated balance sheets at the date of the sale, and includes the cash received from JPM as part of the cash flows from operating activities on its Consolidated Statement of Operations. During the year ended December 31, 2023, the Company did not sell any of its billed receivables.