Accounts receivable represents primarily outstanding balances from sending agents for pending wire transfers or money orders from our customers. The outstanding balance of accounts receivable, net of allowance for credit losses, consists of the following (in thousands):


	March 31, 2026		December 31, 2025
Accounts receivable	$	111,115	$	110,899
Allowance for credit losses	(4,837)		(5,530)
Accounts receivable, net	$	106,278	$	105,369

Agent advances receivable, net of allowance for credit losses, from sending agents is as follows (in thousands):


	March 31, 2026		December 31, 2025
Agent advances receivable, current	$	2,042	$	2,001
Allowance for credit losses	(246)		(203)
Net current	$	1,796	$	1,798

Agent advances receivable, long-term	$	3,169	$	2,960
Allowance for credit losses	(385)		(264)
Net long-term	$	2,784	$	2,696

The net current portion of agent advances receivable is included in prepaid expenses and other current assets (see Note 5), and the net long-term portion is included in other assets (see Note 5) in the condensed consolidated balance sheets. At March 31, 2026 and December 31, 2025, there were $5.2 million and $5.0 million, respectively, of agent advances receivable collateralized by personal guarantees from sending agents and assets from their businesses in case of a default by the agent.


	Outstanding Balance
Under 1 year	$	2,042
Between 1 and 2 years	2,178
More than 2 years	991
Total	$	5,211

The changes in the allowance for credit losses related to accounts receivable and agent advances receivable are as follows (in thousands):


	Three Months Ended March 31,
		2026		2025
Beginning balance		$	5,997	$	3,836
Provision		2,891		2,066
Charge-offs		(3,615)		(1,757)
Recoveries		337		170
Other		(142)		117
Ending Balance		$	5,468	$	4,432

The allowance for credit losses allocated by financial instrument category is as follows (in thousands):


	March 31, 2026		December 31, 2025
Accounts receivable	$	4,837	$	5,530
Agent advances receivable	631		467
Allowance for credit losses	$	5,468	$	5,997