Contract Receivables

3 Months Ended

Mar. 31, 2020

Contract Receivables [Abstract]

Contract Receivables

5. Contract Receivables

Contract receivables represent our unconditional rights to consideration due from a broad base of both domestic and international customers. All contract receivables are considered to be collectible within    .

The components of contract receivables are as follows:

(in thousands)	March 31, 2020			December 31, 2019
Billed receivables	$	6,707		$	11,041
Unbilled receivables		7,377			6,624
Allowance for doubtful accounts		(434	)		(458	)
Total contract receivables, net	$	13,650		$	17,207

Management reviews collectability of receivables periodically and records an allowance for doubtful accounts to reduce its receivables to their net realizable value when it is probable that we will not be able to collect all amounts according to the contractual terms of the receivable. The allowance for doubtful accounts is based on historical trends of past due accounts, write-offs, specific identification and review of customer accounts. During the three months ended March 31, 2020 and 2019, we recorded bad debt expense of $93 thousand and $0, respectively.

During April 2020, we invoiced $4.5 million of the March 31, 2020 unbilled amounts.

As of March 31, 2020, we had one customer that accounted for 20% of our consolidated contract receivables. As of December 31, 2019, we had two customers that accounted for 13% and 10% of our consolidated contract receivables.