Quarterly report pursuant to Section 13 or 15(d)

Accounts Receivable

v3.22.1
Accounts Receivable
 3 Months Ended
Jun. 30, 2021
Receivables [Abstract]  
Accounts Receivable Accounts Receivable
June 30, 2021 March 31, 2021
(Unaudited)
Billed $ 155,353  $ 28,636 
Unbilled 69,231  38,837 
Allowance for credit losses (5,485) (5,488)
Accounts receivable, net $ 219,099  $ 61,985 
Billed accounts receivable represent amounts billed to customers for which the Company has an unconditional right to consideration. Unbilled accounts receivable represents revenues recognized but billed after period-end. All unbilled receivables as of June 30, 2021 and March 31, 2021 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 $108 of bad debt expense during the three months ended June 30, 2021 and $92 of bad debt expense during the three months ended June 30, 2020 in general and administrative expenses on the condensed consolidated statements of operations and comprehensive income.