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Accounts receivable, net
 12 Months Ended
Dec. 31, 2024
Receivables [Abstract]  
Accounts receivable, net Accounts receivable, net
The Company recognizes current estimated credit losses (“CECL”) for accounts receivable not subject to provisional pricing. The CECL for accounts receivable are estimated based on days past due consisting of a customers with similar risk characteristics that operate under similar economic environments. The Company determined the CECL based on an evaluation of certain criteria and evidence of collection uncertainty including client industry profile. When specific customers are identified as no longer sharing the same risk profile as their current pool, they are removed from the pool and evaluated separately.
The allowance for credit losses as at December 31, 2024 was $nil (December 31, 2023, $nil) and no expected credit loss provisions were recognized for the year ended December 31, 2024.
Recovery of bad debt expense for the year ended December 31, 2024 was $1.0 million, compared to bad debt expense of $1.2 million for the year ended December 31, 2023.
The following table summarizes the concentration of credit risk for the Company's accounts receivable with specific customers above 10% of the total balance:
Trade accounts receivable
As atDecember 31, 2024December 31, 2023
Customer A83.0 %0.0 %
Customer B0.0 %32.5 %
Customer C0.0 %31.6 %
Accounts receivable are stated at the amount the Company expects to collect. The Company generally does not require collateral or other security in support of accounts receivable. To reduce credit risk, the Company performs ongoing credit evaluations of its customers’ financial condition.