v3.26.1
ACCOUNTS RECEIVABLE AND AGENT ADVANCES RECEIVABLE, NET OF ALLOWANCE
 6 Months Ended
Jun. 30, 2026
Receivables [Abstract]  
ACCOUNTS RECEIVABLE AND AGENT ADVANCES RECEIVABLE, NET OF ALLOWANCE ACCOUNTS RECEIVABLE AND AGENT ADVANCES RECEIVABLE, NET OF ALLOWANCE
Accounts Receivable

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):

June 30, 2026December 31, 2025
Accounts receivable$104,847 $110,899 
Allowance for credit losses(5,103)(5,530)
Accounts receivable, net$99,744 $105,369 

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

June 30, 2026December 31, 2025
Agent advances receivable, current$2,319 $2,001 
Allowance for credit losses(325)(203)
Net current$1,994 $1,798 
Agent advances receivable, long-term$3,215 $2,960 
Allowance for credit losses(425)(264)
Net long-term$2,790 $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 June 30, 2026 and December 31, 2025, there were $5.5 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.

The maturities of agent advances receivable at June 30, 2026 are as follows (in thousands):
Outstanding Balance
Under 1 year$2,319 
Between 1 and 2 years2,171 
More than 2 years
1,044 
Total$5,534 
Allowance for Credit Losses
The changes in the allowance for credit losses related to accounts receivable and agent advances receivable are as follows (in thousands):

Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Beginning balance$5,468 $4,432 $5,997 $3,836 
Provision2,585 1,858 5,476 3,924 
Charge-offs(2,701)(1,337)(6,316)(3,094)
Recoveries360 302 697 472 
Other141 254 (1)371 
Ending Balance$5,853 $5,509 $5,853 $5,509 

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

June 30, 2026December 31, 2025
Accounts receivable$5,103 $5,530 
Agent advances receivable750 467 
Allowance for credit losses$5,853 $5,997