For the purposes of statements of cash flows, cash, cash equivalents and restricted cash consist of the following:


	As of
	December 31, 2024		December 31, 2023		December 31, 2022
Cash and cash equivalents	$	153,355	$	136,953	$	118,669
Restricted cash (current) (1)	9,972		4,062		4,897
Restricted cash (non-current) (2)	8,071		4,386		2,055
Cash, cash equivalents and restricted cash	$	171,398	$	145,401	$	125,621

(1) Restricted cash (current) primarily represents funds held on behalf of customers in dedicated bank accounts. The corresponding liability against the same is included under “Accrued Expenses and other current liabilities.” Restricted cash also includes funds held as collateral in a dedicated bank account for irrevocable letters of credit issued in favor of third parties for facility leases.

(2) Restricted cash (non-current) represents deposits with banks against bank guarantees issued through banks in favor of relevant statutory authorities for equipment imports, deposits for obtaining indirect tax registrations and for demands against pending income tax and value added tax (“VAT”) assessments. These deposits with banks will mature one year after the balance sheet date.