Annual report [Section 13 and 15(d), not S-K Item 405]

ACCOUNTS RECEIVABLE

v3.26.1
ACCOUNTS RECEIVABLE
12 Months Ended
Dec. 31, 2025
Receivables [Abstract]  
ACCOUNTS RECEIVABLE ACCOUNTS RECEIVABLE
The following table sets forth the details of the Company’s accounts receivable, net balances included on the consolidated balance sheets as of December 31, 2025 and 2024:

December 31,
(in thousands) 2025 2024
Accounts receivable $ 47,330  $ 44,304 
Less: allowance for credit losses (327) (324)
Accounts receivable, net $ 47,003  $ 43,980 

As of January 1, 2024, the Company’s accounts receivable balance was $52.4 million.

Bad debt expense was $0.6 million and $1.0 million for the years ended December 31, 2025 and 2024, respectively. Write-offs were $0.5 million and $0.7 million for the years ended December 31, 2025 and 2024, respectively. Recoveries were $0.1 million and insignificant for the years ended December 31, 2025 and 2024, respectively.