REVENUES

6 Months Ended

Jun. 30, 2024

Revenue from Contract with Customer [Abstract]

REVENUES

REVENUES

Disaggregation of Revenues

The following tables present the disaggregation of the Company’s revenues by client location, including a reconciliation of the disaggregated revenues with the reportable segments (Note 15 “Segment Information”) for the periods indicated:

	Three Months Ended June 30, 2024
	Reportable Segments
	North America		Europe		Consolidated Revenues
Client Locations
Americas	$	665,178	$	26,021	$	691,199
EMEA	32,717		398,604		431,321
APAC	734		23,343		24,077
CEE(1)	—		—		—
Revenues	$	698,629	$	447,968	$	1,146,597

	Six Months Ended June 30, 2024
	Reportable Segments
	North America		Europe		Consolidated Revenues
Client Locations
Americas	$	1,333,360	$	50,759	$	1,384,119
EMEA	68,541		812,027		880,568
APAC	1,457		45,918		47,375
CEE(1)	—		—		—
Revenues	$	1,403,358	$	908,704	$	2,312,062

(1)As a result of the Company’s exit from Russia and sale of the Company’s remaining holdings in Russia to a third-party on July 26, 2023, revenues from the CEE region are no longer material. Starting in 2024, revenues from the CEE region are included in the EMEA region.

	Three Months Ended June 30, 2023
	Reportable Segments
	North America		Europe		Russia		Consolidated Revenues
Client Locations
Americas	$	653,601	$	25,150	$	336	$	679,087
EMEA	25,629		433,456		—		459,085
APAC	649		23,570		—		24,219
CEE	192		1,266		6,357		7,815
Revenues	$	680,071	$	483,442	$	6,693	$	1,170,206

	Six Months Ended June 30, 2023
	Reportable Segments
	North America		Europe		Russia		Consolidated Revenues
Client Locations
Americas	$	1,337,154	$	51,104	$	631	$	1,388,889
EMEA	51,001		872,021		—		923,022
APAC	1,375		49,654		—		51,029
CEE	498		3,810		13,899		18,207
Revenues	$	1,390,028	$	976,589	$	14,530	$	2,381,147

The following tables present the disaggregation of the Company’s revenues by industry vertical, including a reconciliation of the disaggregated revenues with the reportable segments (Note 15 “Segment Information”) for the periods indicated:

	Three Months Ended June 30, 2024
	Reportable Segments
	North America		Europe		Consolidated Revenues
Industry Verticals
Consumer Goods, Retail & Travel(1)	$	113,999	$	138,328	$	252,327
Financial Services	123,369		121,000		244,369
Software & Hi-Tech	128,261		40,561		168,822
Business Information & Media	110,789		54,973		165,762
Life Sciences & Healthcare	120,607		19,477		140,084
Emerging Verticals	101,604		73,629		175,233
Revenues	$	698,629	$	447,968	$	1,146,597

	Six Months Ended June 30, 2024
	Reportable Segments
	North America		Europe		Consolidated Revenues
Industry Verticals
Consumer Goods, Retail & Travel(1)	$	231,690	$	279,767	$	511,457
Financial Services	247,661		239,444		487,105
Software & Hi-Tech	261,455		80,799		342,254
Business Information & Media	217,481		118,599		336,080
Life Sciences & Healthcare	242,324		37,969		280,293
Emerging Verticals	202,747		152,126		354,873
Revenues	$	1,403,358	$	908,704	$	2,312,062

	Three Months Ended June 30, 2023
	Reportable Segments
	North America		Europe		Russia		Consolidated Revenues
Industry Verticals
Consumer Goods, Retail & Travel(1)	$	120,038	$	151,639	$	1,782	$	273,459
Financial Services	135,178		120,361		3,429		258,968
Software & Hi-Tech	135,755		38,910		553		175,218
Business Information & Media	106,357		83,260		67		189,684
Life Sciences & Healthcare	99,966		14,454		21		114,441
Emerging Verticals	82,777		74,818		841		158,436
Revenues	$	680,071	$	483,442	$	6,693	$	1,170,206

	Six Months Ended June 30, 2023
	Reportable Segments
	North America		Europe		Russia		Consolidated Revenues
Industry Verticals
Consumer Goods, Retail & Travel(1)	$	243,697	$	304,694	$	3,428	$	551,819
Financial Services	279,028		243,969		6,636		529,633
Software & Hi-Tech	285,553		77,592		1,264		364,409
Business Information & Media	222,515		169,368		181		392,064
Life Sciences & Healthcare	196,563		28,980		156		225,699
Emerging Verticals	162,672		151,986		2,865		317,523
Revenues	$	1,390,028	$	976,589	$	14,530	$	2,381,147

(1) The Company renamed the Travel & Consumer vertical to Consumer Goods, Retail & Travel to better reflect the mix of clients included in this vertical. This constitutes a naming change only and no changes were made to amounts reported.

The following tables present the disaggregation of the Company’s revenues by contract type including a reconciliation of the disaggregated revenues with the Company’s reportable segments (Note 15 “Segment Information”) for the periods indicated:

	Three Months Ended June 30, 2024
	Reportable Segments
	North America		Europe		Consolidated Revenues
Contract Types
Time-and-material	$	592,045	$	351,576	$	943,621
Fixed-price	102,328		93,323		195,651
Licensing and other revenues	4,256		3,069		7,325
Revenues	$	698,629	$	447,968	$	1,146,597

	Six Months Ended June 30, 2024
	Reportable Segments
	North America		Europe		Consolidated Revenues
Contract Types
Time-and-material	$	1,197,741	$	727,406	$	1,925,147
Fixed-price	194,363		177,612		371,975
Licensing and other revenues	11,254		3,686		14,940
Revenues	$	1,403,358	$	908,704	$	2,312,062

	Three Months Ended June 30, 2023
	Reportable Segments
	North America		Europe		Russia		Consolidated Revenues
Contract Types
Time-and-material	$	606,766	$	416,194	$	5,060	$	1,028,020
Fixed-price	67,273		66,468		1,612		135,353
Licensing and other revenues	6,032		780		21		6,833
Revenues	$	680,071	$	483,442	$	6,693	$	1,170,206

	Six Months Ended June 30, 2023
	Reportable Segments
	North America		Europe		Russia		Consolidated Revenues
Contract Types
Time-and-material	$	1,251,394	$	841,792	$	9,813	$	2,102,999
Fixed-price	128,504		132,671		4,683		265,858
Licensing and other revenues	10,130		2,126		34		12,290
Revenues	$	1,390,028	$	976,589	$	14,530	$	2,381,147

Timing of Revenue Recognition

The following tables present the timing of revenue recognition reconciled with the Company’s reportable segments (Note 15 “Segment Information”) for the periods indicated:

	Three Months Ended June 30, 2024
	Reportable Segments
	North America		Europe		Consolidated Revenues
Timing of Revenue Recognition
Transferred over time	$	695,853	$	445,577	$	1,141,430
Transferred at a point of time	2,776		2,391		5,167
Revenues	$	698,629	$	447,968	$	1,146,597

	Six Months Ended June 30, 2024
	Reportable Segments
	North America		Europe		Consolidated Revenues
Timing of Revenue Recognition
Transferred over time	$	1,396,237	$	906,232	$	2,302,469
Transferred at a point of time	7,121		2,472		9,593
Revenues	$	1,403,358	$	908,704	$	2,312,062

	Three Months Ended June 30, 2023
	Reportable Segments
	North America		Europe		Russia		Consolidated Revenues
Timing of Revenue Recognition
Transferred over time	$	676,637	$	482,999	$	6,673	$	1,166,309
Transferred at a point of time	3,434		443		20		3,897
Revenues	$	680,071	$	483,442	$	6,693	$	1,170,206

	Six Months Ended June 30, 2023
	Reportable Segments
	North America		Europe		Russia		Consolidated Revenues
Timing of Revenue Recognition
Transferred over time	$	1,383,671	$	975,396	$	14,497	$	2,373,564
Transferred at a point of time	6,357		1,193		33		7,583
Revenues	$	1,390,028	$	976,589	$	14,530	$	2,381,147

During the three and six months ended June 30, 2024, the Company recognized $10.4 million and $15.4 million, respectively, of revenues from performance obligations satisfied in previous periods compared to $3.5 million and $5.6 million during the three and six months ended June 30, 2023, respectively.

The following table includes the estimated revenues expected to be recognized in the future related to performance obligations that are partially or fully unsatisfied as of June 30, 2024. The Company applies a practical expedient and does not disclose the value of unsatisfied performance obligations for contracts (i) that have an original expected duration of one year or less and (ii) for which it recognizes revenues at the amount to which it has the right to invoice for services provided.

	Less than 1 year		1 Year		2 Years		3 Years		Total
Contract Type
Fixed-price	$	29,658	$	1,141	$	29	$	—	$	30,828

The Company applies a practical expedient and does not disclose the amount of the transaction price allocated to the remaining performance obligations nor provide an explanation of when the Company expects to recognize that amount as revenue for certain variable consideration.

Contract Balances

The following table provides information on the classification of contract assets and liabilities in the condensed consolidated balance sheets:

	As of June 30, 2024		As of December 31, 2023
Contract assets included in Trade receivables and contract assets, net	$	51,027	$	24,309
Contract liabilities included in Accrued expenses and other current liabilities	$	31,811	$	27,988
Contract liabilities included in Other noncurrent liabilities	$	243	$	951

Contract assets comprise amounts where the Company’s right to bill is contingent on something other than the passage of time such as achievement of contractual milestones. Contract assets have increased from December 31, 2023 primarily due to contracts where the Company’s right to bill is contingent upon achievement of contractual milestones. Contract liabilities comprise amounts collected from the Company’s clients for revenues not yet earned and such amounts are anticipated to be recorded as revenues when services are performed in subsequent periods. Contract liabilities have increased from December 31, 2023 primarily due to higher levels of advance collections.

During the three and six months ended June 30, 2024, the Company recognized $5.3 million and $17.4 million, respectively, of revenues that were included in Accrued expenses and other current liabilities at December 31, 2023. During the three and six months ended June 30, 2023, the Company recognized $5.0 million and $24.2 million, respectively, of revenues that were included in Accrued expenses and other current liabilities at December 31, 2022.