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ACCOUNTS RECEIVABLE AND AGENT ADVANCES RECEIVABLE, NET OF ALLOWANCE
 6 Months Ended
Jun. 30, 2025
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, 2025December 31, 2024
Accounts receivable$146,797 $110,623 
Allowance for credit losses(5,146)(3,546)
Accounts receivable, net$141,651 $107,077 

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

June 30, 2025December 31, 2024
Agent advances receivable, current$1,835 $2,260 
Allowance for credit losses(191)(173)
Net current$1,644 $2,087 
Agent advances receivable, long-term$2,611 $2,315 
Allowance for credit losses(172)(117)
Net long-term$2,439 $2,198 

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, 2025 and December 31, 2024, there were $4.4 million and $4.6 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, 2025 are as follows (in thousands):
Outstanding Balance
Under 1 year$1,835 
Between 1 and 2 years2,190 
More than 2 years to 3 years
421 
Total$4,446 

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,
2025202420252024
Beginning balance$4,432 $2,930 $3,836 $2,794 
Provision1,858 1,776 3,924 3,371 
Charge-offs(1,337)(995)(3,094)(2,842)
Recoveries302 222 472 680 
Other254 (23)371 (93)
Ending Balance$5,509 $3,910 $5,509 $3,910 

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

June 30, 2025December 31, 2024
Accounts receivable$5,146 $3,546 
Agent advances receivable363 290 
Allowance for credit losses$5,509 $3,836