Note 4. Accounts Receivable

Receivables are recorded and carried at the original invoiced amount or, for unbilled receivables, at the recognized revenue amount less an allowance for credit losses (in thousands).

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Trade accounts receivable and unbilled receivables as of June 30, 2026 was $3.4 million and $0.6 million, respectively. Trade accounts receivable represent amounts billed to customers for services rendered and network infrastructure installed. Unbilled receivables represent revenue recognized in excess of amounts billed to customers, primarily related to the allocation of contract consideration for network design and installation services recognized over time. As of June 30, 2026, the Company had unbilled receivables of approximately $0.6 million, which are expected to be billed within the next twelve months.

As of June 30, 2026 and December 31, 2025, the Company recorded an allowance for credit losses of approximately $0.5 million and $0.3 million, respectively, related to trade accounts receivable based on the aging schedule methodology described in Note 2.