Annual report pursuant to Section 13 and 15(d)

Accounts Receivable

v3.23.1
Accounts Receivable
 12 Months Ended
Mar. 31, 2023
Receivables [Abstract]  
Accounts Receivable Accounts Receivable
March 31, 2023 March 31, 2022
Billed $ 136,921  $ 189,208 
Unbilled 51,474  82,324 
Allowance for credit losses (10,206) (8,393)
Accounts receivable, net $ 178,189  $ 263,139 
Billed accounts receivable represent amounts billed to customers for which the Company has an unconditional right to consideration. Unbilled accounts receivable represents revenue recognized but billed after period-end. All unbilled receivables as of March 31, 2023, are expected to be billed and collected (subject to the allowance for credit losses) within twelve months.
Allowance for Credit Losses
The Company maintains reserves for current expected credit losses on accounts receivable. Management reviews the composition of accounts receivable and analyzes historical bad debts, customer concentrations, current economic trends, and changes in customer payment patterns to evaluate the adequacy of these reserves.
The Company recorded $3,342, $1,583, and $1,032 of bad debt expense during the years ended March 31, 2023, 2022, and 2021, respectively, in general and administrative expenses on the consolidated statements of operations and comprehensive income (loss).