Quarterly report pursuant to Section 13 or 15(d)

ACCOUNTS RECEIVABLE

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ACCOUNTS RECEIVABLE
3 Months Ended
Mar. 31, 2023
Receivables [Abstract]  
ACCOUNTS RECEIVABLE ACCOUNTS RECEIVABLE
The Company adopted ASU 2016-13 utilizing the loss rate method which considers historical loss rates, adjusted for current conditions, and reasonable and supportable forecasts to its trade receivable balances. The adoption of ASU 2016-13 did not have a material impact on the Company’s consolidated financial statements. The following table shows the details of accounts receivable as of March 31, 2023, and December 31, 2022:
(In thousands, USD) March 31, 2023 December 31, 2022
Accounts receivable $ 48,483  $ 45,097 
Allowance for credit losses (428) (559)
Accounts receivable, net $ 48,055  $ 44,538 
The Company requires third-party credit support in certain instances to limit credit risk. The Company generally does not require collateral from its customers.