SeaChange International, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Accounts Receivables, Unbilled Receivables, Allowance for Credit Losses and Contract Liabilities (Tables)

Accounts Receivables, Unbilled Receivables, Allowance for Credit Losses and Contract Liabilities (Tables)

3 Months Ended

Apr. 30, 2023

Schedule of Accounts Receivable, Net and Unbilled Receivables, Net

The following table summarizes the Company’s accounts receivable, net and unbilled receivables, net:



	As of April 30, 2023		As of January 31, 2023
	(Amounts in thousands)
Accounts receivable, net	$	7,362	$	10,382
Unbilled receivables, net - current		8,354		7,757
Unbilled receivables, net - long-term		4,659		5,044
	$	20,375	$	23,183

Schedule of Unbilled Receivables, Net Expected to be Billed in Future

Unbilled receivables, net are expected to be billed in the future as follows (amounts in thousands, except percentage amounts):


	As of April 30,
	2023		Percentage
1 year or less	$	8,354		64	%
1-2 years		2,280		18	%
2-5 years		2,379		18	%
Total unbilled receivables, net	$	13,013		100	%

Allowance for Credit Losses

The following table summarizes the Company’s allowance for credit losses for the three months ended April 30, 2023:


	Trade Accounts Receivable			Unbilled Receivables		Total Receivables
	(Amounts in thousands)
Balance as of February 1, 2023	$	841		$	168	$	1,009
Impact of CECL adoption		(151	)		369		218
Adjustment to allowance for expected credit losses		1			33		34
Write-offs charged against allowance		(111	)		—		(111	)
Balance as of April 30, 2023	$	580		$	570	$	1,150

Schedule of Change in Deferred Revenue

The change in deferred revenue as of April 30, 2023 is due to new billings in advance of revenue recognition offset by revenue recognized during the period.


	Deferred Revenue
	Current			Long-Term
	(Amounts in thousands)
Balance as of January 31, 2023	$	5,172		$	130
Decrease, net		(85	)		(38	)
Balance as of April 30, 2023	$	5,087		$	92