NOTES RECEIVABLE

12 Months Ended

Dec. 31, 2024

Receivables [Abstract]

NOTES RECEIVABLE

NOTE 5. NOTES RECEIVABLE

The Company's notes receivable are secured by certain assets with maturities ranging from July 2025 to September 2032 and consisted of the following as of December 31:

	2024			2023
	(in thousands)
Total notes receivable	$	12,494		$	13,701
Less: discount on notes receivable	—			(45)
Less: allowance for credit losses	(7,216)			—
Less: current portion of notes receivable	(4,750)			(6,233)
Notes receivable, net	$	528		$	7,423
Weighted-average effective interest rate	8.07		%	8.05		%

During the years ended December 31, 2024, 2023, and 2022, the Company recorded interest income on its notes receivable of $1.2 million, $1.2 million, and $1.3 million, respectively, to interest income on the consolidated statements of operations.

The Company recorded a provision for credit losses of $7.2 million, zero, and zero for the years ended December 31, 2024, 2023, and 2022, respectively, to other (expense) income, net on the consolidated statements of operations. There was no other allowance for credit losses activity during the years ended December 31, 2024, 2023, and 2022.