REVENUES

9 Months Ended

Sep. 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 16 “Segment Information”) for the periods indicated:

	Three Months Ended September 30, 2024
	Reportable Segments
	North America		Europe		Consolidated Revenues
Client Locations
Americas	$	669,582	$	27,585	$	697,167
EMEA(1)	34,679		410,188		444,867
APAC	352		25,141		25,493
CEE(1)	—		—		—
Revenues	$	704,613	$	462,914	$	1,167,527

	Nine Months Ended September 30, 2024
	Reportable Segments
	North America		Europe		Consolidated Revenues
Client Locations
Americas	$	2,002,942	$	78,344	$	2,081,286
EMEA(1)	103,220		1,222,215		1,325,435
APAC	1,809		71,059		72,868
CEE(1)	—		—		—
Revenues	$	2,107,971	$	1,371,618	$	3,479,589

(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 September 30, 2023
	Reportable Segments
	North America		Europe		Russia		Consolidated Revenues
Client Locations
Americas	$	654,717	$	22,693	$	—	$	677,410
EMEA	29,251		416,986		—		446,237
APAC	786		24,265		—		25,051
CEE	24		1,869		1,545		3,438
Revenues	$	684,778	$	465,813	$	1,545	$	1,152,136

	Nine Months Ended September 30, 2023
	Reportable Segments
	North America		Europe		Russia		Consolidated Revenues
Client Locations
Americas	$	1,991,871	$	73,797	$	631	$	2,066,299
EMEA	80,252		1,289,007		—		1,369,259
APAC	2,161		73,919		—		76,080
CEE	522		5,679		15,444		21,645
Revenues	$	2,074,806	$	1,442,402	$	16,075	$	3,533,283

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 16 “Segment Information”) for the periods indicated:

	Three Months Ended September 30, 2024
	Reportable Segments
	North America		Europe		Consolidated Revenues
Industry Verticals
Consumer Goods, Retail & Travel(1)	$	107,866	$	143,259	$	251,125
Financial Services	129,339		125,296		254,635
Software & Hi-Tech	131,145		46,928		178,073
Business Information & Media	115,121		52,273		167,394
Life Sciences & Healthcare	120,659		21,675		142,334
Emerging Verticals	100,483		73,483		173,966
Revenues	$	704,613	$	462,914	$	1,167,527

	Nine Months Ended September 30, 2024
	Reportable Segments
	North America		Europe		Consolidated Revenues
Industry Verticals
Consumer Goods, Retail & Travel(1)	$	339,556	$	423,026	$	762,582
Financial Services	377,000		364,740		741,740
Software & Hi-Tech	392,600		127,727		520,327
Business Information & Media	332,602		170,872		503,474
Life Sciences & Healthcare	362,983		59,644		422,627
Emerging Verticals	303,230		225,609		528,839
Revenues	$	2,107,971	$	1,371,618	$	3,479,589

	Three Months Ended September 30, 2023
	Reportable Segments
	North America		Europe		Russia		Consolidated Revenues
Industry Verticals
Consumer Goods, Retail & Travel(1)	$	115,778	$	146,837	$	342	$	262,957
Financial Services	131,499		114,122		814		246,435
Software & Hi-Tech	136,520		37,545		281		174,346
Business Information & Media	104,863		78,983		15		183,861
Life Sciences & Healthcare	109,137		15,143		(36)		124,244
Emerging Verticals	86,981		73,183		129		160,293
Revenues	$	684,778	$	465,813	$	1,545	$	1,152,136

	Nine Months Ended September 30, 2023
	Reportable Segments
	North America		Europe		Russia		Consolidated Revenues
Industry Verticals
Consumer Goods, Retail & Travel(1)	$	359,475	$	451,531	$	3,770	$	814,776
Financial Services	410,527		358,091		7,450		776,068
Software & Hi-Tech	422,073		115,137		1,545		538,755
Business Information & Media	327,378		248,351		196		575,925
Life Sciences & Healthcare	305,700		44,123		120		349,943
Emerging Verticals	249,653		225,169		2,994		477,816
Revenues	$	2,074,806	$	1,442,402	$	16,075	$	3,533,283

(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 16 “Segment Information”) for the periods indicated:

	Three Months Ended September 30, 2024
	Reportable Segments
	North America		Europe		Consolidated Revenues
Contract Types
Time-and-material	$	596,111	$	372,056	$	968,167
Fixed-price	102,239		89,276		191,515
Licensing and other revenues	6,263		1,582		7,845
Revenues	$	704,613	$	462,914	$	1,167,527

	Nine Months Ended September 30, 2024
	Reportable Segments
	North America		Europe		Consolidated Revenues
Contract Types
Time-and-material	$	1,793,852	$	1,099,462	$	2,893,314
Fixed-price	296,602		266,888		563,490
Licensing and other revenues	17,517		5,268		22,785
Revenues	$	2,107,971	$	1,371,618	$	3,479,589

	Three Months Ended September 30, 2023
	Reportable Segments
	North America		Europe		Russia		Consolidated Revenues
Contract Types
Time-and-material	$	602,765	$	391,479	$	1,355	$	995,599
Fixed-price	73,640		73,226		190		147,056
Licensing and other revenues	8,373		1,108		—		9,481
Revenues	$	684,778	$	465,813	$	1,545	$	1,152,136

	Nine Months Ended September 30, 2023
	Reportable Segments
	North America		Europe		Russia		Consolidated Revenues
Contract Types
Time-and-material	$	1,854,159	$	1,233,271	$	11,168	$	3,098,598
Fixed-price	202,144		205,897		4,873		412,914
Licensing and other revenues	18,503		3,234		34		21,771
Revenues	$	2,074,806	$	1,442,402	$	16,075	$	3,533,283

Timing of Revenue Recognition

The following tables present the timing of revenue recognition reconciled with the Company’s reportable segments (Note 16 “Segment Information”) for the periods indicated:

	Three Months Ended September 30, 2024
	Reportable Segments
	North America		Europe		Consolidated Revenues
Timing of Revenue Recognition
Transferred over time	$	701,014	$	461,923	$	1,162,937
Transferred at a point of time	3,599		991		4,590
Revenues	$	704,613	$	462,914	$	1,167,527

	Nine Months Ended September 30, 2024
	Reportable Segments
	North America		Europe		Consolidated Revenues
Timing of Revenue Recognition
Transferred over time	$	2,097,251	$	1,368,155	$	3,465,406
Transferred at a point of time	10,720		3,463		14,183
Revenues	$	2,107,971	$	1,371,618	$	3,479,589

	Three Months Ended September 30, 2023
	Reportable Segments
	North America		Europe		Russia		Consolidated Revenues
Timing of Revenue Recognition
Transferred over time	$	682,410	$	465,286	$	1,545	$	1,149,241
Transferred at a point of time	2,368		527		—		2,895
Revenues	$	684,778	$	465,813	$	1,545	$	1,152,136

	Nine Months Ended September 30, 2023
	Reportable Segments
	North America		Europe		Russia		Consolidated Revenues
Timing of Revenue Recognition
Transferred over time	$	2,066,081	$	1,440,682	$	16,042	$	3,522,805
Transferred at a point of time	8,725		1,720		33		10,478
Revenues	$	2,074,806	$	1,442,402	$	16,075	$	3,533,283

During the three and nine months ended September 30, 2024, the Company recognized $1.6 million and $15.0 million, respectively, of revenues from performance obligations satisfied in previous periods compared to $9.2 million and $7.1 million during the three and nine months ended September 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 September 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	$	23,832	$	3,269	$	—	$	—	$	27,101

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 September 30, 2024		As of December 31, 2023
Contract assets included in Trade receivables and contract assets, net	$	56,748	$	24,309
Contract liabilities included in Accrued expenses and other current liabilities	$	32,458	$	27,988
Contract liabilities included in Other noncurrent liabilities	$	290	$	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 nine months ended September 30, 2024, the Company recognized $2.9 million and $20.3 million, respectively, of revenues that were included in Accrued expenses and other current liabilities at December 31, 2023. During the three and nine months ended September 30, 2023, the Company recognized $3.1 million and $27.4 million, respectively, of revenues that were included in Accrued expenses and other current liabilities at December 31, 2022.