LIFECORE BIOMEDICAL INC DE
For the period ended Aug 25, 2024. Filed Oct 4, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Aug 25, 2024 · Filed Oct 4, 2024
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Accounts Receivable
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- Accounts Receivable
Accounts receivable balances are as follows:
| August 25, 2024 | May 26, 2024 | |
|---|---|---|
| Accounts receivable | $25,845 | $31,864 |
| Less: Allowance for credit losses | (700) | (711) |
| Accounts receivable, less allowance for credit losses | $25,145 | $31,153 |
Gross receivable by bill type are as follows:
| August 25, 2024 | May 26, 2024 | |
|---|---|---|
| Billed | $21,720 | $27,795 |
| Unbilled | 4,125 | 4,069 |
| Accounts receivable | $25,845 | $31,864 |
Three of the Company’s customers had accounts receivable concentrations of 10% or greater as of August 25, 2024, accounting for 29%,22% and 12% of accounts receivable. Two of the Company’s customers had accounts receivable concentrations of 10% or greater as of May 26, 2024, accounting for and 34% and 18%.
Changes in the allowance for credit losses related to accounts receivable are as follows:
| Three Months Ended | ||
|---|---|---|
| August 25, 2024 | August 27, 2023 | |
| Beginning balance | $711 | $485 |
| Provision (Reduction) | (11) | 21 |
| Charge-offs | — | — |
| Ending Balance | $700 | $506 |
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