Accounts Receivable, Net and Unbilled Receivables

9 Months Ended

Jul. 31, 2022

Accounts Receivable, Net and Unbilled Receivables

Accounts Receivable, Net and Unbilled Receivables

Note 5. Accounts Receivable, Net and Unbilled Receivables

Accounts receivable, net and Unbilled receivables as of July 31, 2022 and October 31, 2021 consisted of the following (in thousands):

	July 31,		October 31,
	2022		2021
Product, Service and Generation:
Amount billed	$	10,032	$	13,854
Unbilled receivables (1)		8,505		7,175
		18,537		21,029
Advanced Technologies (including U.S. government(2)):
Amount billed		2,069		876
Unbilled receivables		1,956		1,749
		4,025		2,625
Accounts receivable, net and unbilled receivables	$	22,562	$	23,654

(1) Additional long-term unbilled receivables of $10.2 million and $11.6 million are included within “Other assets” as of July 31, 2022 and October 31, 2021, respectively.

(2) Total U.S. government accounts receivable, including unbilled receivables, outstanding as of July 31, 2022 and October 31, 2021 were $2.6 million and $2.3 million, respectively.

We bill customers for power platform and power platform component sales based on certain contractual milestones being reached. We bill service agreements based on the contract price and billing terms of the contracts. Generally, our Advanced Technologies contracts are billed based on actual revenues recorded, typically in the subsequent month. Some Advanced Technologies contracts are billed based on contractual milestones or costs incurred. Unbilled receivables relate to revenue recognized on customer contracts that have not been billed.

The Company had no allowance for doubtful accounts as of July 31, 2022 and October 31, 2021. Uncollectible accounts receivable, including unbilled receivables, are charged against the allowance for doubtful accounts when all collection efforts have failed and it is deemed unlikely that the amount will be recovered or if the Company calculates expected credit loss estimates based upon forward-looking information.