CAPITAL ADVANCE ("CA") RECEIVABLES

6 Months Ended

Jun. 30, 2025

NOTE 4 – CAPITAL ADVANCE (“CA”) RECEIVABLES

The Company enters into transactions with pre-qualified sellers in which the Company purchases a designated amount of future receivables for an upfront cash purchase price.

During the six months ended June 30, 2025 and 2024, the Company has purchased and collected the following principal amounts associated with CA receivables, including foreign exchange adjustments:


	Six Months Ended
	June 30,
	2025		2024
Beginning CA receivables, gross	$	61,197	$	50,552
CA extended to customers		167,143		154,357
Change in revenue receivables		(451)		(44)
CA collected from customers		(189,081)		(147,654)
Charge-offs, net of recoveries		(2,123)		(2,288)
Ending CA receivables, gross	$	36,685	$	54,923
Allowance for CA losses		(4,875)		(5,445)
CA receivables, net	$	31,810	$	49,478

The following are current and overdue balances that are segregated into the timing of expected collections at June 30, 2025:


			Due in less	Due in 30‑60	Due in 60‑90	Due in more
Total		Overdue	than 30 days	days	days	than 90 days
$	36,685	2,419	9,456	6,016	11,679	7,115

The following are current and overdue balances that are segregated into the timing of expected collections at December 31, 2024:


			Due in less	Due in 30‑60	Due in 60‑90	Due in more
Total		Overdue	than 30 days	days	days	than 90 days
$	61,197	2,825	13,654	13,357	23,252	8,109

As of June 30, 2025 and December 31, 2024, the Company applied a range of loss rates to the CA portfolio of 0.87% to 2.02% for the allowance for CA losses.