XML 30 R18.htm IDEA: XBRL DOCUMENT
v3.25.3

REVENUES | 9 Months Ended
--- | ---
Sep. 30, 2025
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, 2025
| Reportable Segments |  |
| Americas |  | Europe |  |  |  | Consolidated Revenues
Client Locations |  |  |  |  |  |  |
Americas | $ | 757,980 |  |  | $ | 50,650 |  |  |  |  | $ | 808,630 |
EMEA | 41,278 |  |  | 514,461 |  |  |  |  | 555,739 |
APAC | 611 |  |  | 29,393 |  |  |  |  | 30,004 |
Revenues | $ | 799,869 |  |  | $ | 594,504 |  |  |  |  | $ | 1,394,373 |
| Nine Months Ended September 30, 2025
| Reportable Segments |  |
| Americas |  | Europe |  |  |  | Consolidated Revenues
Client Locations |  |  |  |  |  |  |
Americas | $ | 2,251,226 |  |  | $ | 139,122 |  |  |  |  | $ | 2,390,348 |
EMEA | 112,100 |  |  | 1,465,563 |  |  |  |  | 1,577,663 |
APAC | 1,111 |  |  | 80,386 |  |  |  |  | 81,497 |
Revenues | $ | 2,364,437 |  |  | $ | 1,685,071 |  |  |  |  | $ | 4,049,508 |
| Three Months Ended September 30, 2024
| Reportable Segments |  |
| Americas |  | Europe |  |  |  | Consolidated Revenues
Client Locations |  |  |  |  |  |  |
Americas | $ | 669,582 |  |  | $ | 27,585 |  |  |  |  | $ | 697,167 |
EMEA | 34,679 |  |  | 410,188 |  |  |  |  | 444,867 |
APAC | 352 |  |  | 25,141 |  |  |  |  | 25,493 |
Revenues | $ | 704,613 |  |  | $ | 462,914 |  |  |  |  | $ | 1,167,527 |
| Nine Months Ended September 30, 2024
| Reportable Segments |  |
| Americas |  | Europe |  |  |  | Consolidated Revenues
Client Locations |  |  |  |  |  |  |
Americas | $ | 2,002,942 |  |  | $ | 78,344 |  |  |  |  | $ | 2,081,286 |
EMEA | 103,220 |  |  | 1,222,215 |  |  |  |  | 1,325,435 |
APAC | 1,809 |  |  | 71,059 |  |  |  |  | 72,868 |
Revenues | $ | 2,107,971 |  |  | $ | 1,371,618 |  |  |  |  | $ | 3,479,589 |
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, 2025
| Reportable Segments |  |
| Americas |  | Europe |  |  |  | Consolidated Revenues
Industry Verticals |  |  |  |  |  |  |
Financial Services | $ | 150,573 |  |  | $ | 187,228 |  |  |  |  | $ | 337,801 |
Consumer Goods, Retail & Travel | 122,673 |  |  | 153,354 |  |  |  |  | 276,027 |
Software & Hi-Tech | 143,191 |  |  | 68,965 |  |  |  |  | 212,156 |
Business Information & Media | 116,848 |  |  | 50,782 |  |  |  |  | 167,630 |
Life Sciences & Healthcare | 124,943 |  |  | 34,251 |  |  |  |  | 159,194 |
Emerging Verticals | 141,641 |  |  | 99,924 |  |  |  |  | 241,565 |
Revenues | $ | 799,869 |  |  | $ | 594,504 |  |  |  |  | $ | 1,394,373 |
| Nine Months Ended September 30, 2025
| Reportable Segments |  |
| Americas |  | Europe |  |  |  | Consolidated Revenues
Industry Verticals |  |  |  |  |  |  |
Financial Services | $ | 448,475 |  |  | $ | 531,604 |  |  |  |  | $ | 980,079 |
Consumer Goods, Retail & Travel | 356,090 |  |  | 443,499 |  |  |  |  | 799,589 |
Software & Hi-Tech | 423,163 |  |  | 183,737 |  |  |  |  | 606,900 |
Business Information & Media | 348,912 |  |  | 155,658 |  |  |  |  | 504,570 |
Life Sciences & Healthcare | 375,859 |  |  | 94,794 |  |  |  |  | 470,653 |
Emerging Verticals | 411,938 |  |  | 275,779 |  |  |  |  | 687,717 |
Revenues | $ | 2,364,437 |  |  | $ | 1,685,071 |  |  |  |  | $ | 4,049,508 |
| Three Months Ended September 30, 2024
| Reportable Segments |  |
| Americas |  | Europe |  |  |  | Consolidated Revenues
Industry Verticals |  |  |  |  |  |  |
Financial Services | $ | 129,339 |  |  | $ | 125,296 |  |  |  |  | $ | 254,635 |
Consumer Goods, Retail & Travel | 107,866 |  |  | 143,259 |  |  |  |  | 251,125 |
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 |  |
| Americas |  | Europe |  |  |  | Consolidated Revenues
Industry Verticals |  |  |  |  |  |  |
Financial Services | $ | 377,000 |  |  | $ | 364,740 |  |  |  |  | $ | 741,740 |
Consumer Goods, Retail & Travel | 339,556 |  |  | 423,026 |  |  |  |  | 762,582 |
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 |
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, 2025
| Reportable Segments |  |
| Americas |  | Europe |  |  |  | Consolidated Revenues
Contract Types |  |  |  |  |  |  |
Time-and-material | $ | 662,650 |  |  | $ | 456,410 |  |  |  |  | $ | 1,119,060 |
Fixed-price | 131,497 |  |  | 136,602 |  |  |  |  | 268,099 |
Licensing and other revenues | 5,722 |  |  | 1,492 |  |  |  |  | 7,214 |
Revenues | $ | 799,869 |  |  | $ | 594,504 |  |  |  |  | $ | 1,394,373 |
| Nine Months Ended September 30, 2025
| Reportable Segments |  |
| Americas |  | Europe |  |  |  | Consolidated Revenues
Contract Types |  |  |  |  |  |  |
Time-and-material | $ | 1,957,852 |  |  | $ | 1,290,314 |  |  |  |  | $ | 3,248,166 |
Fixed-price | 387,803 |  |  | 390,457 |  |  |  |  | 778,260 |
Licensing and other revenues | 18,782 |  |  | 4,300 |  |  |  |  | 23,082 |
Revenues | $ | 2,364,437 |  |  | $ | 1,685,071 |  |  |  |  | $ | 4,049,508 |
| Three Months Ended September 30, 2024
| Reportable Segments |  |
| Americas |  | 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 |  |
| Americas |  | 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 |
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, 2025
| Reportable Segments |  |
| Americas |  | Europe |  |  |  | Consolidated Revenues
Timing of Revenue Recognition |  |  |  |  |  |  |
Transferred over time | $ | 795,809 |  |  | $ | 594,377 |  |  |  |  | $ | 1,390,186 |
Transferred at a point of time | 4,060 |  |  | 127 |  |  |  |  | 4,187 |
Revenues | $ | 799,869 |  |  | $ | 594,504 |  |  |  |  | $ | 1,394,373 |
| Nine Months Ended September 30, 2025
| Reportable Segments |  |
| Americas |  | Europe |  |  |  | Consolidated Revenues
Timing of Revenue Recognition |  |  |  |  |  |  |
Transferred over time | $ | 2,349,990 |  |  | $ | 1,684,331 |  |  |  |  | $ | 4,034,321 |
Transferred at a point of time | 14,447 |  |  | 740 |  |  |  |  | 15,187 |
Revenues | $ | 2,364,437 |  |  | $ | 1,685,071 |  |  |  |  | $ | 4,049,508 |
| Three Months Ended September 30, 2024
| Reportable Segments |  |
| Americas |  | 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 |  |
| Americas |  | 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 |
During the three and nine months ended September 30, 2025, the Company recognized $21.6 million and $15.5 million, respectively, of revenues from performance obligations satisfied in previous periods compared to $1.6 million and $15.0 million during the three and nine months ended September 30, 2024, 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, 2025. 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 | $ | 39,346 |  |  | $ | 2,506 |  |  | $ | — |  |  | $ | — |  |  | $ | 41,852 |
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, 2025 |  | As of December 31, 2024
Contract assets included in Trade receivables and contract assets, net | $ | 76,796 |  |  | $ | 52,897 |
Contract liabilities included in Accrued expenses and other current liabilities | $ | 43,884 |  |  | $ | 59,321 |
Contract liabilities included in Other noncurrent liabilities | $ | 630 |  |  | $ | 741 |
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, 2024 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 decreased from December 31, 2024 primarily due to lower levels of advance collections. During the three and nine months ended September 30, 2025, the Company recognized $7.3 million and $47.6 million, respectively, of revenues that were included in Accrued expenses and other current liabilities at December 31, 2024. 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.

X
- References No definition available. + Details
Name: | us-gaap_RevenueFromContractWithCustomerAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-7 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent + Details
Name: | us-gaap_RevenueFromContractWithCustomerTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration