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ACCOUNTS RECEIVABLE, NET
 12 Months Ended
Dec. 31, 2024
Receivables [Abstract]  
ACCOUNTS RECEIVABLE, NET ACCOUNTS RECEIVABLE, NET
Table 4.1: Details of Accounts Receivable, Net
As of December 31,
20242023
(in thousands)
Billed accounts receivables$10,070 $18,101 
Unbilled accounts receivable5,412 8,022 
Contract assets3,746 4,584 
Allowance for credit losses(56)(283)
   Accounts receivable, net$19,172 $30,424 
As our primary customer base includes agencies of the U.S. government, we have a concentration of credit risk associated with our accounts receivable, as 88% and 91% of our billed and unbilled accounts receivable, as of December 31, 2024, and 2023, respectively, were directly with U.S. government customers. While we acknowledge the potentially material and adverse risk of such a significant concentration of credit risk, our past experience of collecting substantially all of such receivables provides us with an informed basis that such risk, if any, is manageable. We perform ongoing credit evaluations of all of our customers and generally do not require collateral or other guarantees from our customers. We maintain allowances for potential losses.
Table 4.2: Allowance for Credit Losses Activities
Balance Beginning
of Year
Provision for (Recovery from) Credit Losses (1)
Write-Offs (2)
Balance
End
of Year
(in thousands)
For the Year Ended December 31, 2024$283 $(20)$(207)$56 
For the Year Ended December 31, 2023134 152 (3)283 
(1) Current year account receivable reserves for expected credit losses and subsequent recoveries, net
(2) Accounts receivable written-off
On July 15, 2016, the Company entered into an accounts receivable purchase agreement under which the Company could sell certain accounts receivable (balance not to exceed $10.0 million) to a third party, or the "Factor," without recourse to the Company, with an availability period through June 30, 2022, and from year to year thereafter unless terminated in writing by the parties. There were no accounts receivable sold during 2024 and 2023, respectively. As of December 31, 2024, and 2023, there were no outstanding sold accounts receivable.