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Segment and Geographical Information
 6 Months Ended
Jun. 30, 2024
Segment Reporting [Abstract]  
Segment and Geographical Information Segment and Geographical Information
The Company is a provider of data analytics and digital operations and solutions.

The Company manages and reports financial information through its four reportable segments: Insurance, Healthcare, Analytics and Emerging Business, which reflects how management reviews financial information and makes operating decisions. These business units develop client-specific solutions, build capabilities, maintain a unified go-to-market approach and are integrally responsible for service delivery, customer satisfaction, growth and profitability.

The CODM generally reviews financial information such as revenues, cost of revenues and gross profit, disaggregated by the operating segments to allocate an overall budget among the operating segments.

The Company does not allocate and therefore the CODM does not evaluate, certain operating expenses, interest expense or income taxes by segment. Many of the Company’s assets are shared by multiple operating segments. The Company manages these assets on a total Company basis, not by operating segment, and therefore asset information and capital expenditures by operating segment are not presented.

Revenues and cost of revenues for the three months ended June 30, 2024 and 2023, respectively, for each of the reportable segments, are as follows:
Three months ended June 30, 2024
InsuranceHealthcareEmerging BusinessAnalyticsTotal
Revenues, net$149,297 $28,098 $77,185 $193,786 $448,366 
Cost of revenues (1)
95,524 18,802 45,069 122,711 282,106 
Gross profit (1)
$53,773 $9,296 $32,116 $71,075 $166,260 
Operating expenses104,811 
Foreign exchange gain, net, interest expense and other income, net(1,742)
Income tax expense13,873 
Loss from equity-method investment(9)
Net income$45,825 
(1) Exclusive of depreciation and amortization expense.
Three months ended June 30, 2023
InsuranceHealthcareEmerging BusinessAnalyticsTotal
Revenues, net$128,457 $27,156 $67,200 $182,183 $404,996 
Cost of revenues (1)
84,322 17,540 37,845 113,513 253,220 
Gross profit (1)
$44,135 $9,616 $29,355 $68,670 $151,776 
Operating expenses86,965 
Foreign exchange gain, net, interest expense and other income, net(255)
Income tax expense15,554 
Gain from equity-method investment66 
Net income$49,068 
(1) Exclusive of depreciation and amortization expense.

Revenues and cost of revenues for the six months ended June 30, 2024 and 2023, respectively, for each of the reportable segments, are as follows:

Six months ended June 30, 2024
InsuranceHealthcareEmerging BusinessAnalyticsTotal
Revenues, net$294,436 $54,348 $151,577 $384,512 $884,873 
Cost of revenues (1)
187,816 36,119 86,048 245,547 555,530 
Gross profit (1)
$106,620 $18,229 $65,529 $138,965 $329,343 
Operating expenses206,370 
Foreign exchange gain, net, interest expense and other income, net(722)
Income tax expense27,626 
Loss from equity-method investment(37)
Net income$94,588 
(1) Exclusive of depreciation and amortization expense.

Six months ended June 30, 2023
InsuranceHealthcareEmerging BusinessAnalyticsTotal
Revenues, net$254,393 $53,859 $133,361 $364,026 $805,639 
Cost of revenues (1)
166,646 36,349 73,815 227,879 504,689 
Gross profit (1)
$87,747 $17,510 $59,546 $136,147 $300,950 
Operating expenses176,691 
Foreign exchange gain, net, interest expense and other income, net(380)
Income tax expense23,612 
Gain from equity-method investment132 
Net income$100,399 
(1) Exclusive of depreciation and amortization expense.
Revenues, net by service type, were as follows:
Three months ended June 30,Six months ended June 30,
2024202320242023
Digital operations and solutions (1)
$254,580 $222,813 $500,361 $441,613 
Analytics services193,786 182,183 384,512 364,026 
Revenues, net$448,366 $404,996 $884,873 $805,639 

(1) Digital operations and solutions include revenues of the Company’s Insurance, Healthcare and Emerging Business reportable segments. Refer to the reportable segment disclosure above.

The Company attributes the revenues to regions based upon the location of its customers.
 Three months ended June 30,Six months ended June 30,
 2024202320242023
Revenues, net
The United States$370,749 $340,675 $733,055 $679,748 
Non-United States
The United Kingdom52,967 43,648 103,369 85,222 
Rest of World24,650 20,673 48,449 40,669 
Total Non-United States77,617 64,321 151,818 125,891 
Revenues, net$448,366 $404,996 $884,873 $805,639 

Long-lived assets by geographic area, which consist of property and equipment, net and operating lease ROU assets were as follows:
As of
June 30, 2024December 31, 2023
Long-lived assets
India$61,157 $53,813 
The United States58,184 61,592 
The Philippines25,636 21,952 
South Africa25,329 20,890 
Rest of World5,994 6,982 
Long-lived assets$176,300 $165,229