Note 7. Accounts Receivable

At March 31, 2025 and December 31, 2024, accounts receivable consisted of the following (in thousands):

The company revises its estimate of expected credit losses each reporting period based on current economic conditions and reasonable and supportable forecasts and, as a result, the allowance for credit losses was decreased by $78,000 for the three months ended March 31, 2025. 

Accounts receivable – trade, net for the Company as of January 1, 2024 and  March 31, 2024 were approximately $8.9 million and $12.9 million, respectively.