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Revenue Recognition
 3 Months Ended
Mar. 31, 2025
Revenue from Contract with Customer [Abstract]  
Revenue Recognition Revenue Recognition
Disaggregated Revenue
For the three months ended March 31, 2025 and 2024, disaggregated revenue from contracts with customers by major source and customer class are as follows (in thousands):
Three Months Ended
March 31,
20252024
Regulated revenue
Water Service
Residential$4,388 $4,162 
Irrigation620 367 
Commercial383 328 
Multi-family81 57 
Construction327 153 
Other water revenue181 159 
Total water revenue5,980 5,226 
Wastewater and recycled water service
Residential5,868 5,834 
Commercial287 305 
Multi-family49 39 
Recycled water revenue193 121 
Other wastewater revenue80 85 
Total wastewater and recycled water revenue6,477 6,384 
Total regulated revenue12,457 11,610 
Total revenue$12,457 $11,610 
Contract Balances
The Company’s contract assets and liabilities consist of the following (in thousands):
March 31, 2025December 31, 2024
Contract assets
Accounts receivable, net$3,300 $3,233 
Total contract assets$3,300 $3,233 
Contract liabilities
Deferred revenue - ICFA$21,559 $21,517 
Total contract liabilities$21,559 $21,517 
Accounts Receivable and Allowance for Credit Losses
Accounts receivable as of March 31, 2025 and December 31, 2024 consist of the following (in thousands):
March 31, 2025December 31, 2024
Billed receivables$3,495 $3,396 
Less provision for credit losses(195)(163)
Accounts receivable, net$3,300 $3,233 
The following table summarizes the allowance for credit loss activity as of March 31, 2025 and December 31, 2024 (in thousands):
March 31, 2025December 31, 2024
Beginning of Period$(163)$(122)
Credit Loss Expense(30)(103)
Write Offs1 90 
Recoveries(3)(28)
End of Period$(195)$(163)
Remaining Performance Obligations
Revenue allocated to remaining performance obligations represents contracted revenue that has not yet been recognized, which includes deferred revenue and amounts that will be invoiced and recognized as revenue in future periods. Deferred revenue - ICFA is recognized as revenue once the obligations specified within the applicable ICFA are met, including construction of sufficient operating capacity to serve the customers for which revenue was deferred. Due to the uncertainty of future events, the Company is unable to estimate when to expect recognition of deferred revenue - ICFA.
December 31, 2024 Balance
Payments Allocated to Deferred Revenue
Revenue Recognized
March 31, 2025 Balance
Deferred Revenue - ICFA
$21,517 $42 $— $21,559