Accounts Receivable, Net

6 Months Ended

Jun. 30, 2026

Accounts receivable, net consists of (in thousands):


	June 30,		December 31,
	2026		2025
Accounts receivable	$	161,586	$	107,960
Unbilled services	31,762		17,134
Total accounts receivable	193,348		125,094
Allowance for credit losses	(3,977)		(1,676)
Total accounts receivable, net	$	189,371	$	123,418

The following table summarizes changes in the allowance for credit losses for the six months ended June 30, 2026 and year ended December 31, 2025 (in thousands):


	June 30,		December 31,
	2026		2025
Balance at beginning of period	$	1,676	$	3,071
Addition to / (reduction in) provision	2,587		(1,198)
Write-offs, net of recoveries	(286)		(197)
Balance at end of period	$	3,977	$	1,676

The opening balance of accounts receivable, net on January 1, 2025 was $117.8 million.