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REVENUES
 3 Months Ended
Mar. 31, 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 March 31, 2024
Reportable Segments
North AmericaEuropeConsolidated Revenues
Client Locations
Americas$668,182 $24,738 $692,920 
EMEA35,824 413,423 449,247 
APAC723 22,575 23,298 
CEE(1)
— — — 
        Revenues$704,729 $460,736 $1,165,465 
(1)As a result of the 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 March 31, 2023
Reportable Segments
North AmericaEuropeRussiaConsolidated Revenues
Client Locations
Americas$683,553 $25,954 $295 $709,802 
EMEA25,372 438,565 — 463,937 
APAC726 26,084 — 26,810 
CEE306 2,544 7,542 10,392 
        Revenues$709,957 $493,147 $7,837 $1,210,941 
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 March 31, 2024
Reportable Segments
North AmericaEuropeConsolidated Revenues
Industry Verticals
Consumer Goods, Retail & Travel(1)
$117,691 $141,439 $259,130 
Financial Services124,292 118,444 242,736 
Software & Hi-Tech133,194 40,238 173,432 
Business Information & Media106,692 63,626 170,318 
Life Sciences & Healthcare121,717 18,492 140,209 
Emerging Verticals101,143 78,497 179,640 
        Revenues$704,729 $460,736 $1,165,465 

Three Months Ended March 31, 2023
Reportable Segments
North AmericaEuropeRussiaConsolidated Revenues
Industry Verticals
Consumer Goods, Retail & Travel(1)
$123,659 $153,055 $1,646 $278,360 
Financial Services143,850 123,608 3,207 270,665 
Software & Hi-Tech149,798 38,682 711 189,191 
Business Information & Media116,158 86,108 114 202,380 
Life Sciences & Healthcare96,597 14,526 135 111,258 
Emerging Verticals79,895 77,168 2,024 159,087 
        Revenues$709,957 $493,147 $7,837 $1,210,941 
(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 March 31, 2024
Reportable Segments
North AmericaEuropeConsolidated Revenues
Contract Types
Time-and-material$605,696 $375,830 $981,526 
Fixed-price92,035 84,289 176,324 
Licensing and other revenues6,998 617 7,615 
        Revenues$704,729 $460,736 $1,165,465 
Three Months Ended March 31, 2023
Reportable Segments
North AmericaEuropeRussiaConsolidated Revenues
Contract Types
Time-and-material$644,628 $425,598 $4,753 $1,074,979 
Fixed-price61,231 66,203 3,071 130,505 
Licensing and other revenues4,098 1,346 13 5,457 
        Revenues$709,957 $493,147 $7,837 $1,210,941 
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 March 31, 2024
Reportable Segments
North AmericaEuropeConsolidated Revenues
Timing of Revenue Recognition
Transferred over time$700,384 $460,655 $1,161,039 
Transferred at a point of time4,345 81 4,426 
        Revenues$704,729 $460,736 $1,165,465 
Three Months Ended March 31, 2023
Reportable Segments
North AmericaEuropeRussiaConsolidated Revenues
Timing of Revenue Recognition
Transferred over time$707,034 $492,397 $7,824 $1,207,255 
Transferred at a point of time2,923 750 13 3,686 
        Revenues$709,957 $493,147 $7,837 $1,210,941 
During the three months ended March 31, 2024, the Company recognized $13.1 million of revenues from performance obligations satisfied in previous periods compared to $7.2 million during the three months ended March 31, 2023.
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 March 31, 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 year1 Year2 Years3 YearsTotal
Contract Type
Fixed-price$18,228 $777 $— $— $19,005 
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
March 31,
2024		As of
December 31,
2023
Contract assets included in Trade receivables and contract assets, net$31,117 $24,309 
Contract liabilities included in Accrued expenses and other current liabilities$34,390 $27,988 
Contract liabilities included in Other noncurrent liabilities$496 $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 months ended March 31, 2024, the Company recognized $12.1 million of revenues that were included in Accrued expenses and other current liabilities at December 31, 2023. During the three months ended March 31, 2023, the Company recognized $19.2 million of revenues that were included in Accrued expenses and other current liabilities at December 31, 2022.