| Revenues and Cost of Revenues for Company's Reportable Segments |
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 | | Insurance | | Healthcare | | Emerging Business | | Analytics | | Total | | | 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 expenses | | | | | | | | | 104,811 | | | Foreign exchange gain, net, interest expense and other income, net | | | | | | | | | (1,742) | | | Income tax expense | | | | | | | | | 13,873 | | | Loss from equity-method investment | | | | | | | | | (9) | | | Net income | | | | | | | | | $ | 45,825 | |
(1) Exclusive of depreciation and amortization expense. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three months ended June 30, 2023 | | Insurance | | Healthcare | | Emerging Business | | Analytics | | Total | | | 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 expenses | | | | | | | | | 86,965 | | | Foreign exchange gain, net, interest expense and other income, net | | | | | | | | | (255) | | | Income tax expense | | | | | | | | | 15,554 | | | Gain from equity-method investment | | | | | | | | | 66 | | | 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 | | Insurance | | Healthcare | | Emerging Business | | Analytics | | Total | | | 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 expenses | | | | | | | | | 206,370 | | | Foreign exchange gain, net, interest expense and other income, net | | | | | | | | | (722) | | | Income tax expense | | | | | | | | | 27,626 | | | Loss from equity-method investment | | | | | | | | | (37) | | | Net income | | | | | | | | | $ | 94,588 | |
(1) Exclusive of depreciation and amortization expense.
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Six months ended June 30, 2023 | | Insurance | | Healthcare | | Emerging Business | | Analytics | | Total | | | 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 expenses | | | | | | | | | 176,691 | | | Foreign exchange gain, net, interest expense and other income, net | | | | | | | | | (380) | | | Income tax expense | | | | | | | | | 23,612 | | | Gain from equity-method investment | | | | | | | | | 132 | | | 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, | | 2024 | | 2023 | | 2024 | | 2023 | Digital operations and solutions (1) | $ | 254,580 | | | $ | 222,813 | | | $ | 500,361 | | | $ | 441,613 | | | Analytics services | 193,786 | | | 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.
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| Revenues Based on Geographical Information |
The Company attributes the revenues to regions based upon the location of its customers. | | | | | | | | | | | | | | | | | | | | | | | | | | Three months ended June 30, | | Six months ended June 30, | | | 2024 | | 2023 | | 2024 | | 2023 | | Revenues, net | | | | | | | | | The United States | $ | 370,749 | | | $ | 340,675 | | | $ | 733,055 | | | $ | 679,748 | | | Non-United States | | | | | | | | | The United Kingdom | 52,967 | | | 43,648 | | | 103,369 | | | 85,222 | | | Rest of World | 24,650 | | | 20,673 | | | 48,449 | | | 40,669 | | | Total Non-United States | 77,617 | | | 64,321 | | | 151,818 | | | 125,891 | | | Revenues, net | $ | 448,366 | | | $ | 404,996 | | | $ | 884,873 | | | $ | 805,639 | |
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