v3.25.4
ACCOUNTS RECEIVABLE
 12 Months Ended
Dec. 31, 2025
Receivables [Abstract]  
ACCOUNTS RECEIVABLE

5. ACCOUNTS RECEIVABLE

 

The following table summarizes the accounts receivable of the Company as of the period end dates set forth below (in US$ thousands):

 

   December 31,
2025		   December 31,
2024		   December 31,
2023		 
Trade receivables  $191,792   $152,471   $180,989 
Less: allowance for credit losses   (13,772)   (15,206)   (9,720)
Total  $178,020   $137,265   $171,269 

 

Trade receivables relate to the sale of services, for which credit is extended based on the Company’s evaluation of the customer’s creditworthiness. The movement in the allowance for credit losses is as follows (in US$ thousands):

 

   December 31,
2025		   December 31,
2024		   December 31,
2023		 
   Year ended 
   December 31,
2025		   December 31,
2024		   December 31,
2023		 
             
Allowance for credit losses at beginning of period  $(15,206)  $(9,720)  $(12,664)
(Increase) decrease to allowance for the period   2,329   (8,844)   410 
Write-off of credit losses   1,365    3,358    2,534 
Reclassifications   (2,260)   -    - 
Allowance for credit losses at end of period  $(13,772)  $(15,206)  $(9,720)

 

During the year ended December 31, 2025, the Company recognized allowance for doubtful receivables and unbilled revenue of $8.7 million during the year, consisting of an allowance on unbilled revenue of $11.0 million less reversals of the allowance on billed receivables of $2.3 million. For the years ended December 31, 2024, and 2023, these amounts were exclusive to doubtful receivables.