v3.24.2.u1
Revenues, net and Accounts Receivable, net (Tables)
 6 Months Ended
Jun. 30, 2024
Revenue from Contract with Customer [Abstract]  
Contracts with Customer, Receivables, Liabilities and Revenue Recognized
The following table provides information about accounts receivable, contract assets and contract liabilities from contracts with customers:
As of
June 30, 2024December 31, 2023
Accounts receivable, net$327,613 $308,108 
Contract assets$6,448 $9,665 
Contract liabilities:
Deferred revenue (consideration received in advance)$12,588 $9,764 
Consideration received for process transition activities$16,440 $12,411 
Revenue recognized during the three and six months ended June 30, 2024 and 2023, which was included in the contract liabilities balance at the beginning of the respective periods:

Three months ended June 30,Six months ended June 30,
2024202320242023
Deferred revenue (consideration received in advance)$1,231 $2,990 $8,292 $15,992 
Consideration received for process transition activities$647 $305 $1,279 $1,008 
Contract Acquisition and Fulfillment Costs
The following table provides details of the Company’s contract acquisition and fulfillment costs:
Contract Acquisition Costs
Three months endedSix months endedYear ended
June 30, 2024June 30, 2023June 30, 2024June 30, 2023December 31, 2023
Opening Balance$1,901 $1,994 $2,122 $1,095 $1,095 
Additions364 397 371 1,476 1,841 
Amortization(275)(208)(503)(388)(814)
Closing Balance$1,990 $2,183 $1,990 $2,183 $2,122 
Contract Fulfillment Costs
Three months endedSix months endedYear ended
June 30, 2024June 30, 2023June 30, 2024June 30, 2023December 31, 2023
Opening Balance$27,287 $17,873 $24,673 $13,871 $13,871 
Additions3,958 4,225 7,284 8,843 13,605 
Amortization(841)(653)(1,553)(1,269)(2,803)
Closing Balance$30,404 $21,445 $30,404 $21,445 $24,673 
Movement in Allowance for Expected Credit Loss
The following table provides information about accounts receivable, net of allowance for expected credit losses:

As of
June 30, 2024December 31, 2023
Accounts receivable, including unbilled receivables$331,173 $311,811 
Less: Allowance for expected credit losses(3,560)(3,703)
Accounts receivable, net$327,613 $308,108 


The movement in “Allowance for expected credit losses” was as follows:

Three months endedSix months endedYear ended
June 30, 2024June 30, 2023June 30, 2024June 30, 2023December 31, 2023
Opening Balance$3,358 $1,671 $3,703 $1,332 $1,332 
Additions/(reductions)201 134 (68)477 2,450 
Reductions due to write-off of accounts receivable— (5)(76)(8)(79)
Currency translation adjustments1 — 1 (1)— 
Closing Balance$3,560 $1,800 $3,560 $1,800 $3,703