v3.25.3
ACCOUNTS RECEIVABLE, NET
 9 Months Ended
Sep. 30, 2025
Credit Loss [Abstract]  
ACCOUNTS RECEIVABLE, NET

3. ACCOUNTS RECEIVABLE, NET

 

The following table summarizes the accounts receivable of the Company as of the period end dates set forth below (in US$ thousands):

 

         
   As of 
   September 30, 2025   December 31, 2024 
Trade receivables  $209,533   $152,471 
Less: allowance for credit losses   (16,764)   (15,206)
Total  $192,769   $137,265 

 

Trade receivables relate to the sale of services, for which credit is extended based on the Company’s evaluation of the customer’s creditworthiness. The gross contractual amounts of trade receivables at September 30, 2025, and December 31, 2024, were $209.5 million and $152.5 million, respectively. The movement in the allowance for credit losses is as follows (in US$ thousands):

 

                 
   For the three-month
period ended		   For the nine-month
period ended		 
   September 30, 2025   September 30, 2024   September 30, 2025   September 30, 2024 
                 
Allowance for credit losses at beginning of period  $

(13,908

)  $(13,354)  $

(15,206

)  $(9,720)
(Increase) decrease to allowance for the period   

(1,476

)   (990)   

(694

)   (5,306)

Write-off of credit losses

   848    835    1,364    1,517 
Reclassifications   (2,228)   -    (2,228)   - 
Allowance for credit losses at end of period  $(16,764)  $(13,509)  $

(16,764

)  $(13,509)