v3.25.2
Allowance for Doubtful Accounts (Tables)
 6 Months Ended
Jun. 30, 2025
Receivables [Abstract]  
Schedule of Notes Receivable Disaggregated by Vintage Year
The following table presents the Company’s four tiers of notes receivable as of and for the six months ended June 30, 2025 further disaggregated by year of origination, as well as write-off activity:
Notes receivable
Amortized cost basis by origination year
20252024202320222021PriorTotal
(in thousands)
Notes receivable
Standard notes receivable$51,922 $16,121 $2,084 $5,875 $— $— $76,002 
Delinquent notes receivable$— $318 $1,054 $1,811 $606 $— $3,789 
Genesis notes receivable$— $— $— $— $— $22,134 $22,134 
Elevated risk notes receivable$— $— $2,709 $— $— $1,491 $4,200 
Current-period gross write-offs$— $— $— $— $— $— $— 
Current-period recoveries— (278)— — — — (278)
Current-period net write-offs$— $(278)$— $— $— $— $(278)
Schedule of Age Analysis of Past-Due Note Receivable
The following table provides information as to the status of payment on the Company’s notes receivable which were past due as of June 30, 2025:
Age analysis of past-due notes receivable as of June 30, 2025
0 - 90 Days91 - 180 DaysGreater than 181 DaysTotal
(in thousands)
Notes receivable
Standard notes receivable$119 $— $— $119 
Delinquent notes receivable378 327 2,698 3,403 
Genesis notes receivable255 286 21,336 21,877 
Elevated risk notes receivable— 150 2,879 3,029 
$752 $763 $26,913 $28,428 
Schedule of Changes in Allowance for Doubtful Accounts
The following tables provide a summary of the changes in the Company’s allowance for doubtful accounts on a portfolio segment basis for the three months ended June 30, 2025 and 2024, respectively:
Allowance for doubtful accounts
Portfolio Segment:March 31,
2025		Reclassifications
Write-Offs1
Bad Debt ExpenseJune 30,
2025
(in thousands)
Accounts receivable
Aged accounts receivable$87,098 $(1,751)$(30,246)$9,642 $64,743 
Genesis accounts receivable— 1,751 — 45,977 47,728 
Total accounts receivable$87,098 $— $(30,246)$55,619 $112,471 
Notes receivable
Standard notes receivable$4,586 $— $— $1,035 $5,621 
Delinquent notes receivable6,013 (5,176)— 235 1,072 
Genesis notes receivable— 5,176 — 15,234 20,410 
Elevated risk notes receivable2,140 — — 170 2,310 
Total notes receivable$12,739 $— $— $16,674 $29,413 
Total accounts and notes receivable$99,837 $— $(30,246)$72,293 $141,884 

1.Write-offs are shown net of recoveries. During the three months ended June 30, 2025, the Company collected less than $0.1 million of accounts and notes receivable which had previously been written-off as uncollectible.

Allowance for doubtful accounts
Portfolio segment:March 31,
2024
Write-Offs1
Bad Debt ExpenseJune 30,
2024
(in thousands)
Accounts receivable$84,087 $(11,955)$31,561 $103,693 
Notes receivable
Standard notes receivable$3,047 $— $(60)$2,987 
Delinquent notes receivable3,698 (69)221 3,850 
Elevated risk notes receivable4,755 — — 4,755 
Total notes receivable$11,500 $(69)$161 $11,592 
Total accounts and notes receivable$95,587 $(12,024)$31,722 $115,285 

1.Write-offs are shown net of recoveries. During the three months ended June 30, 2024, the Company collected less than $0.1 million of accounts and notes receivable which had previously been written-off as uncollectible.
The following tables provide a summary of the changes in the Company’s allowance for doubtful accounts on a portfolio segment basis for the six months ended June 30, 2025 and 2024, respectively:

Allowance for doubtful accounts
Portfolio Segment:December 31,
2024		Reclassifications
Write-Offs1
Bad Debt ExpenseJune 30,
2025
(in thousands)
Accounts receivable
Aged accounts receivable$87,520 $(1,651)$(32,557)$11,431 $64,743 
Genesis accounts receivable— 1,651 — 46,077 47,728 
Total accounts receivable$87,520 $— $(32,557)$57,508 $112,471 
Notes receivable
Standard notes receivable$5,096 — 278 $247 $5,621 
Delinquent notes receivable6,026 (5,176)— 222 1,072 
Genesis notes receivable— 5,176 — 15,234 20,410 
Elevated risk notes receivable2,140 — — 170 2,310 
Total notes receivable$13,262 $— $278 $15,873 $29,413 
Total accounts and notes receivable$100,782 $— $(32,279)$73,381 $141,884 

1.Write-offs are shown net of recoveries. During the six months ended June 30, 2025, the Company collected $0.3 million of accounts and notes receivable which had previously been written-off as uncollectible.

Allowance for doubtful accounts
Portfolio segment:December 31,
2023
Write-Offs1
Bad Debt ExpenseJune 30,
2024
(in thousands)
Accounts receivable$80,819 $(12,988)$35,862 $103,693 
Notes receivable
Standard notes receivable$3,510 $— $(523)$2,987 
Delinquent notes receivable2,615 (69)1,304 3,850 
Elevated risk notes receivable4,755 — — 4,755 
Total notes receivable$10,880 $(69)$781 $11,592 
Total accounts and notes receivable$91,699 $(13,057)$36,643 $115,285 

1.Write-offs are shown net of recoveries. During the six months ended June 30, 2024, the Company collected $0.1 million of accounts and notes receivable which had previously been written-off as uncollectible.
Schedule of Changes in Allowance for Notes Receivable
The following tables provide a summary of the changes in the Company’s allowance for doubtful accounts on a portfolio segment basis for the three months ended June 30, 2025 and 2024, respectively:
Allowance for doubtful accounts
Portfolio Segment:March 31,
2025		Reclassifications
Write-Offs1
Bad Debt ExpenseJune 30,
2025
(in thousands)
Accounts receivable
Aged accounts receivable$87,098 $(1,751)$(30,246)$9,642 $64,743 
Genesis accounts receivable— 1,751 — 45,977 47,728 
Total accounts receivable$87,098 $— $(30,246)$55,619 $112,471 
Notes receivable
Standard notes receivable$4,586 $— $— $1,035 $5,621 
Delinquent notes receivable6,013 (5,176)— 235 1,072 
Genesis notes receivable— 5,176 — 15,234 20,410 
Elevated risk notes receivable2,140 — — 170 2,310 
Total notes receivable$12,739 $— $— $16,674 $29,413 
Total accounts and notes receivable$99,837 $— $(30,246)$72,293 $141,884 

1.Write-offs are shown net of recoveries. During the three months ended June 30, 2025, the Company collected less than $0.1 million of accounts and notes receivable which had previously been written-off as uncollectible.

Allowance for doubtful accounts
Portfolio segment:March 31,
2024
Write-Offs1
Bad Debt ExpenseJune 30,
2024
(in thousands)
Accounts receivable$84,087 $(11,955)$31,561 $103,693 
Notes receivable
Standard notes receivable$3,047 $— $(60)$2,987 
Delinquent notes receivable3,698 (69)221 3,850 
Elevated risk notes receivable4,755 — — 4,755 
Total notes receivable$11,500 $(69)$161 $11,592 
Total accounts and notes receivable$95,587 $(12,024)$31,722 $115,285 

1.Write-offs are shown net of recoveries. During the three months ended June 30, 2024, the Company collected less than $0.1 million of accounts and notes receivable which had previously been written-off as uncollectible.
The following tables provide a summary of the changes in the Company’s allowance for doubtful accounts on a portfolio segment basis for the six months ended June 30, 2025 and 2024, respectively:

Allowance for doubtful accounts
Portfolio Segment:December 31,
2024		Reclassifications
Write-Offs1
Bad Debt ExpenseJune 30,
2025
(in thousands)
Accounts receivable
Aged accounts receivable$87,520 $(1,651)$(32,557)$11,431 $64,743 
Genesis accounts receivable— 1,651 — 46,077 47,728 
Total accounts receivable$87,520 $— $(32,557)$57,508 $112,471 
Notes receivable
Standard notes receivable$5,096 — 278 $247 $5,621 
Delinquent notes receivable6,026 (5,176)— 222 1,072 
Genesis notes receivable— 5,176 — 15,234 20,410 
Elevated risk notes receivable2,140 — — 170 2,310 
Total notes receivable$13,262 $— $278 $15,873 $29,413 
Total accounts and notes receivable$100,782 $— $(32,279)$73,381 $141,884 

1.Write-offs are shown net of recoveries. During the six months ended June 30, 2025, the Company collected $0.3 million of accounts and notes receivable which had previously been written-off as uncollectible.

Allowance for doubtful accounts
Portfolio segment:December 31,
2023
Write-Offs1
Bad Debt ExpenseJune 30,
2024
(in thousands)
Accounts receivable$80,819 $(12,988)$35,862 $103,693 
Notes receivable
Standard notes receivable$3,510 $— $(523)$2,987 
Delinquent notes receivable2,615 (69)1,304 3,850 
Elevated risk notes receivable4,755 — — 4,755 
Total notes receivable$10,880 $(69)$781 $11,592 
Total accounts and notes receivable$91,699 $(13,057)$36,643 $115,285 

1.Write-offs are shown net of recoveries. During the six months ended June 30, 2024, the Company collected $0.1 million of accounts and notes receivable which had previously been written-off as uncollectible.