Property and Equipment (Tables)

9 Months Ended

Sep. 30, 2023

Property, Plant and Equipment [Abstract]

Schedule of Property and Equipment

Property and equipment, net consists of the following:

		As of
	Estimated useful lives (Years)	September 30, 2023		December 31, 2022
Owned Assets:
Network equipment and computers	3-5	$	143,357	$	130,218
Software	2-5	99,614		88,487
Leasehold improvements	3-8	39,470		42,890
Office furniture and equipment	3-8	19,407		20,211
Motor vehicles	2-5	727		605
Buildings	30	958		961
Land	—	627		629
Capital work in progress	—	15,674		14,459
		319,834		298,460
Less: Accumulated depreciation and amortization		(223,760)		(216,132)
		96,074		82,328
Right-of-use assets under finance leases:
Network equipment and computers		58		82
Leasehold improvements		605		1,013
Office furniture and equipment		431		662
Motor vehicles		891		742
		1,985		2,499
Less: Accumulated depreciation and amortization		(1,330)		(1,999)
		655		500
Property and equipment, net		$	96,729	$	82,828

The depreciation and amortization expense, excluding amortization of acquisition-related intangibles, recognized in the unaudited consolidated statements of income was as follows:

	Three months ended September 30,				Nine months ended September 30,
	2023		2022		2023		2022
Depreciation and amortization expense	$	8,426	$	10,137	$	26,682	$	29,182

The effect of foreign exchange loss upon settlement of cash flow hedges recorded under depreciation and amortization expense, was as follows:

	Three months ended September 30,				Nine months ended September 30,
	2023		2022		2023		2022
Effect of foreign exchange loss	$	(37)	$	(126)	$	(182)	$	(64)

Internally developed software costs, included under Software, was as follows:

	As of
	September 30, 2023		December 31, 2022
Cost	$	42,585	$	31,544
Less : Accumulated amortization	(22,843)		(16,134)
Internally developed software, net	$	19,742	$	15,410

The amortization expense on internally developed software recognized in the unaudited consolidated statements of income was as follows:

	Three months ended September 30,				Nine months ended September 30,
	2023		2022		2023		2022
Amortization expense	$	2,311	$	1,832	$	6,711	$	4,414