Annual report [Section 13 and 15(d), not S-K Item 405]

Accounts Receivable

v3.25.2
Accounts Receivable
 12 Months Ended
Mar. 31, 2025
Receivables [Abstract]  
Accounts Receivable Accounts Receivable
March 31, 2025 March 31, 2024 March 31, 2023
Billed $ 106,880  $ 136,604  $ 136,921 
Unbilled 84,438  64,117  51,474 
Allowance for credit losses (9,548) (9,706) (10,206)
Accounts receivable, net $ 181,770  $ 191,015  $ 178,189 
Billed accounts receivable represent amounts billed to customers for which the Company has an unconditional right to consideration. Unbilled accounts receivable represent revenue recognized but billed after period-end. All unbilled receivables as of March 31, 2025 are expected to be billed and collected (subject to the allowance for credit losses) within twelve months.
The Company considers various factors, including credit risk associated with customers. To the extent any individual debtor is identified whose credit quality has deteriorated, the Company establishes allowances based on the individual risk characteristics of such customer. The Company makes concerted efforts to collect all outstanding balances due, however account balances are charged off against the allowance when management believes it is probable the receivable will not be recovered.
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 considers a receivable past due when a customer has not paid by the contractually specified payment due date. Account balances are written off against the allowance for credit losses if collection efforts are unsuccessful and the receivable balance is deemed uncollectible (customer default), based on factors such as customer credit assessments as well as the length of time the amounts are past due.
Changes in the allowance for credit losses on trade receivables were as follows:

Year ended March 31,
2025 2024
Balance, beginning of period
 $ 9,706  $ 10,206 
Provision for credit losses
 2,767  3,202 
Write-offs
 (2,925) (3,702)
Balance, end of period
 $ 9,548  $ 9,706 
The Company recorded $2,767, $3,202, and $3,342 of credit loss expense during the years ended March 31, 2025, 2024, and 2023, respectively, in general and administrative expenses on the consolidated statements of op
erations and comprehensive (loss) income.