Annual report pursuant to Section 13 and 15(d)

Receivables and Unbilled Receivables

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Receivables and Unbilled Receivables
12 Months Ended
Dec. 31, 2021
Receivables [Abstract]  
Receivables and Unbilled Receivables Receivables and Unbilled Receivables
Receivables, net and unbilled receivables, net as of December 31, 2021 and 2020, respectively, were as follows (in thousands):
  2021 2020
Receivables, net $ 76,587  $ 55,471 
Unbilled receivables, net 31,882  22,358 
Total $ 108,469  $ 77,829 

Receivables, net are recorded at face value less an allowance for credit losses of approximately $1.7 million and $1.5 million as of December 31, 2021 and 2020, respectively.

The unbilled receivables balance includes certain costs for work performed at risk but which we believe will be funded by the government totaling $3.6 million and $2.6 million as of December 31, 2021 and 2020, respectively. We expect to invoice substantially all unbilled receivables during 2022.