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ACCOUNTS RECEIVABLE AND CONTRACT ASSETS
 6 Months Ended
Jun. 30, 2026
Receivables [Abstract]  
ACCOUNTS RECEIVABLE AND CONTRACT ASSETS ACCOUNTS RECEIVABLE AND CONTRACT ASSETS
Accounts receivable and contract assets are recorded net of allowances for credit losses. Accounts receivable represent invoiced and accrued revenue while contract assets represent accrued revenue that has yet to be invoiced to the customer. The Company’s accounts receivable, contract assets and allowance for credit losses consisted of the following as of the below dates:
June 30, 2026December 31, 2025
Accounts receivables$382,834 $369,669 
Contract assets204,262 154,510 
Allowance for credit losses(2,077)(3,447)
Total accounts receivables and contract assets$585,019 $520,732 
The Company records an allowance for credit losses for accounts receivable based on management’s expected credit losses. Management’s estimate of expected credit losses is based on its assessment of the business environment, customers’ financial condition, historical collection experience, accounts receivable aging and customer disputes.
Changes to the allowance for credit losses are adjusted through credit loss expense, which is included within “Selling, general and administrative expenses” in the condensed consolidated statements of operations and comprehensive income (loss).