Allowance for Credit Losses |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Credit Loss [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Allowance for Credit Losses | Allowance for Credit Losses The following table sets forth the Company's allowance for credit losses for the six months ended June 30, 2026 and 2025:
(1) For the six months ended June 30, 2026 and 2025, the Company recorded a provision for credit losses of $5.7 million and $7.7 million, respectively, and for the three months ended June 30, 2026 and 2025, the Company recorded a provision for credit losses of $2.3 million and $3.9 million, respectively. These amounts are included in General and administrative expense in the Consolidated Statements of Operations and Comprehensive (Loss) Income. (2) For the six months ended June 30, 2026 and 2025, the deductions represent amounts written off as uncollectible, net of recoveries. (3) As of June 30, 2026, $13.1 million of the allowance is attributable to Accounts receivable and less than $0.1 million is attributable to Contract assets. As of June 30, 2025, $13.6 million of the allowance is attributable to Accounts receivable and less than $0.1 million is attributable to Contract assets. The Company’s exposure to expected credit losses depends on the financial condition of its clients and other macroeconomic factors. The Company maintains an allowance for credit losses based upon its estimate of potential credit losses. This allowance is based upon historical and current client collection trends, any identified client-specific collection issues, and current as well as expected future economic conditions and market trends.
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