v3.23.1

Note 6 - Accounts Receivable | 12 Months Ended
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Dec. 31, 2022
Notes to Financial Statements |
Trade and Financing Receivables [Text Block] | 6. ACCOUNTS RECEIVABLE The Company’s products may be sold under subscription contracts with control passing to the customer at the end of the lease term, which is generally 36 months. These arrangements are considered to be sales-type leases, where the present value of all cash flows to be received within the arrangement is recognized upon shipment to the customer as lease revenue. A financing receivable is a contractual right to receive money, on demand or on fixed or determinable dates, that is recognized as an asset on the Company’s consolidated balance sheets. The Company’s financing receivables, consisting of its sales-type leases, totaled $40,377 and $53,887 at December 31, 2022 and 2021, respectively, and are included in accounts receivable and long-term receivables on the consolidated balance sheets. The Company evaluates the credit quality of an obligor at lease inception and monitors credit quality over the term of the underlying transactions. The Company performed an assessment of the allowance for doubtful accounts as of December 31, 2022 and 2021. Based upon such assessment, the Company recorded an allowance for doubtful totaling $13,619 and $11,997 as of December 31, 2022 and 2021, respectively. A summary of the Company’s accounts receivables is presented as follows:
|  | As of December 31, |
|  | 2022 |  |  | 2021 |
Gross accounts receivable |  | $ | 70,925 |  |  | $ | 86,625 |
Unearned income |  |  | (3,354 | ) |  |  | (4,033 | )
Allowance for doubtful accounts |  |  | (13,619 | ) |  |  | (11,997 | )
|  | $ | 53,952 |  |  | $ | 70,595 |
Reported as: |  |  |  |  |  |  |  |
Current trade receivables |  | $ | 37,262 |  |  | $ | 46,918 |
Current unearned interest income |  |  | (2,397 | ) |  |  | (2,678 | )
Long-term trade receivables |  |  | 20,044 |  |  |  | 27,710 |
Long-term unearned interest income |  |  | (957 | ) |  |  | (1,355 | )
|  | $ | 53,952 |  |  | $ | 70,595 |
Current subscription contracts are reported as part of accounts receivable. The following are the contractual commitments, net of allowance for doubtful accounts, to be received by the Company over the next 5 years:
|  |  |  |  |  | December 31, |
|  | Total |  |  | 2023 |  |  | 2024 |  |  | 2025 |  |  | 2026 |  |  | 2027 |
Current financing receivables, net of allowance of $6,938 |  | $ | 20,333 |  |  | $ | 20,333 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Long-term financing receivables, net of allowance of $906 |  |  | 20,044 |  |  |  | — |  |  |  | 15,965 |  |  |  | 4,029 |  |  |  | 50 |  |  |  | — |
|  | $ | 40,377 |  |  | $ | 20,333 |  |  | $ | 15,965 |  |  | $ | 4,029 |  |  | $ | 50 |  |  | $ | — |
Accounts receivable do not bear interest and are typically not collateralized. The Company performs ongoing credit evaluations of its customers’ financial condition and maintains an allowance for doubtful accounts. Uncollectible accounts are charged to expense when deemed uncollectible, and accounts receivable are presented net of an allowance for doubtful accounts. Accounts receivable are deemed past due in accordance with the contractual terms of the agreement. Actual losses may differ from the Company’s estimates and could be material to its consolidated financial position, results of operations and cash flows. The allowance for doubtful accounts consisted of the following activity for years ended December 31, 2022 and 2021:
|  | As of December 31, |
|  | 2022 |  |  | 2021 |
Balance at beginning of year |  | $ | 11,997 |  |  | $ | 18,490 |
Write-offs |  |  | (5,715 | ) |  |  | (6,230 | )
(Recovery) provision |  |  | 7,337 |  |  |  | (263 | )
Balance at end of year |  | $ | 13,619 |  |  | $ | 11,997 |

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