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ACCOUNTS RECEIVABLE, NET
 3 Months Ended
Mar. 31, 2025
Receivables [Abstract]  
ACCOUNTS RECEIVABLE, NET ACCOUNTS RECEIVABLE, NET
Table 4: Details of Accounts Receivable, Net
March 31, 2025December 31, 2024
(in thousands)
Billed accounts receivable$9,384 $10,070 
Unbilled accounts receivable4,972 5,412 
Contract assets4,445 3,746 
Allowance for credit losses (1)
(51)(56)
Accounts receivable, net$18,750 $19,172 
(1) Includes recoveries from credit losses, net of provision.
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 74% and 88% of our billed and unbilled accounts receivable as of March 31, 2025, and December 31, 2024, respectively, were directly with U.S. government customers. While we acknowledge the potential material and adverse risk of such a significant concentration of credit risk, our past experience 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.