v3.26.1
Accounts Receivable, Net
12 Months Ended
Dec. 31, 2025
Accounts Receivable, Net [Abstract]  
ACCOUNTS RECEIVABLE, NET
5. ACCOUNTS RECEIVABLE, NET

 

Accounts receivable, net consisted of the following:

 

   As of December 31, 
   2024   2025 
Accounts receivable  $97,467   $86,384 
Allowance for credit losses   (21,862)   (26,617)
Accounts receivable, net  $75,605   $59,767 

 

The Group reversed credit losses of $4,112 for the year ended December 31, 2023, recognized credit losses of $1,314 for the year ended December 31, 2024, and recognized credit losses of $3,695 for the year ended December 31, 2025.

 

As of April 28, 2026, approximately 58.1% of the accounts receivable balance outstanding as of December 31, 2025 had been subsequently collected.

 

The movement of allowance for credit losses for the years ended December 31, 2023, 2024 and 2025 were as following:

 

   For the years ended December 31, 
   2023   2024   2025 
Balance at the beginning of the year  $25,348   $21,144   $21,862 
Additions   
-
    1,314    3,695 
Reversals   (4,112)   
-
    
-
 
Foreign currency translation   (92)   (596)   1,060 
Balance at the end of the year  $21,144   $21,862   $26,617