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REVENUE RECOGNITION AND RECEIVABLES (Tables) | 6 Months Ended
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Jun. 30, 2024
REVENUE RECOGNITION AND RECEIVABLES |
Summary of revenues | Revenue accounted for in accordance with ASC 606 consisted of the following for the periods presented below (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | Three months ended June 30, 2024 | ​ | Three months ended June 30, 2023
​ | International | ​ | US | ​ | ​ | ​ | ​ | International | ​ | US | ​ | ​ | ​
​ | Telecom | ​ | Telecom | ​ | Total | ​ | Telecom | ​ | Telecom | ​ | Total
Services transferred over time | $ | 90,271 | ​ | $ | 71,829 | ​ | $ | 162,100 | ​ | $ | 86,730 | ​ | $ | 80,330 | ​ | $ | 167,060
Goods and services transferred at a point in time | ​ | 3,618 | ​ | ​ | 3,648 | ​ | ​ | 7,266 | ​ | ​ | 3,781 | ​ | ​ | 2,597 | ​ | ​ | 6,378
Total revenue accounted for under ASC 606 | $ | 93,889 | ​ | $ | 75,477 | ​ | $ | 169,366 | ​ | $ | 90,511 | ​ | $ | 82,927 | ​ | $ | 173,438
Operating lease income | ​ | 75 | ​ | ​ | 2,036 | ​ | ​ | 2,111 | ​ | ​ | 73 | ​ | ​ | 1,887 | ​ | ​ | 1,960
Government grant revenue (1) | ​ | 1,393 | ​ | ​ | 10,411 | ​ | ​ | 11,804 | ​ | ​ | 1,397 | ​ | ​ | 9,646 | ​ | ​ | 11,043
Total revenue | $ | 95,357 | ​ | $ | 87,924 | ​ | $ | 183,281 | ​ | $ | 91,981 | ​ | $ | 94,460 | ​ | $ | 186,441
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | Six months ended June 30, 2024 | ​ | Six months ended June 30, 2023
​ | International | ​ | US | ​ | ​ | ​ | ​ | International | ​ | US | ​ | ​ | ​
​ | Telecom | ​ | Telecom | ​ | Total | ​ | Telecom | ​ | Telecom | ​ | Total
Services transferred over time | $ | 178,831 | ​ | $ | 149,872 | ​ | $ | 328,703 | ​ | $ | 172,409 | ​ | $ | 161,403 | ​ | $ | 333,812
Goods and services transferred at a point in time | ​ | 6,652 | ​ | ​ | 6,919 | ​ | ​ | 13,571 | ​ | ​ | 7,040 | ​ | ​ | 5,144 | ​ | ​ | 12,184
Total revenue accounted for under ASC 606 | $ | 185,483 | ​ | $ | 156,791 | ​ | $ | 342,274 | ​ | $ | 179,449 | ​ | $ | 166,547 | ​ | $ | 345,996
Operating lease income | ​ | 147 | ​ | ​ | 4,070 | ​ | ​ | 4,217 | ​ | ​ | 145 | ​ | ​ | 3,717 | ​ | ​ | 3,862
Government grant revenue (1) | ​ | 2,786 | ​ | ​ | 20,799 | ​ | ​ | 23,585 | ​ | ​ | 2,795 | ​ | ​ | 19,561 | ​ | ​ | 22,356
Total revenue | $ | 188,416 | ​ | $ | 181,660 | ​ | $ | 370,076 | ​ | $ | 182,389 | ​ | $ | 189,825 | ​ | $ | 372,214
​
| (1) | Revenue recognized from CAF II, USF and RDOF programs. Refer to Note 8.
Summary of contracts asset and liabilities | Contract assets and liabilities consisted of the following (amounts in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | June 30, 2024 | ​ | December 31, 2023 | ​ | ​ | $ Change | ​ | % Change
Contract asset – current | $ | 3,701 | ​ | $ | 3,616 | ​ | $ | 85 | ​ | ​ | 2.4 | %
Contract asset – noncurrent | ​ | 5,149 | ​ | ​ | 5,509 | ​ | ​ | (360) | ​ | ​ | (6.5) | %
Contract liability – current | ​ | (32,283) | ​ | ​ | (30,990) | ​ | ​ | (1,293) | ​ | ​ | 4.2 | %
Contract liability – noncurrent | ​ | (59,373) | ​ | ​ | (64,035) | ​ | ​ | 4,662 | ​ | ​ | (7.3) | %
Net contract liability | $ | (82,806) | ​ | $ | (85,900) | ​ | $ | 3,094 | ​ | ​ | (3.6) | %
Schedule of activity in allowances for credit losses | Activity in the allowance for credit losses is below (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Six months ended
​ |  | June 30, 2024 |  | June 30, 2023
​ | ​ | ​ | ​ | ​ | ​ | ​
Balance at beginning of period |  | $ | 16,362 | ​ | $ | 15,171
Current period provision for expected losses |  | ​ | 2,855 | ​ | ​ | 2,463
Write-offs charged against the allowance |  | ​ | (2,918) | ​ | ​ | (1,878)
Recoveries collected | ​ | ​ | 133 | ​ | ​ | 188
Balance at end of period | ​ | $ | 16,432 | ​ | $ | 15,944
​

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