Accounts Receivable and Contract Assets, Net

6 Months Ended

Jun. 27, 2025

Receivables, Net, Current [Abstract]

Accounts Receivable and Contract Assets, Net

3. Accounts Receivable and Contract Assets, Net

Accounts receivable and contract assets, net, consisted of the following (in thousands):

	June 27,			December 27,
	2025			2024
Accounts receivable	$	39,954		$	35,926
Contract assets (unbilled revenue)		25,821			23,530
Allowance for doubtful accounts		(2,372	)		(2,377	)
Accounts receivable and contract assets, net	$	63,403		$	57,079

Accounts receivable as of June 27, 2025 and December 27, 2024, is net of uncollected advanced billings. Contract assets as of June 27, 2025 and December 27, 2024, includes recognized recoverable costs and accrued profits on contracts for which billings had not been presented to clients. As of December 29, 2023, the Company had accounts receivable and contract assets of $35.6 million and $17.5 million, respectively. The allowance for doubtful accounts includes reserves related to client collection concerns and aged receivables. The Company has included $12.3 million and $7.8 million as of June 27, 2025 and December 27, 2024, respectively, in accounts receivable for certain software-related contract assets (unbilled revenue) that are multi-year in nature.