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Property and Equipment
 12 Months Ended
Dec. 31, 2024
Property, Plant and Equipment [Abstract]  
Property and Equipment Property and Equipment
Property and equipment consists of the following:
As of
Estimated useful lives (Years)December 31, 2024December 31, 2023
Owned Assets:
Network equipment and computers
3-5
$167,525 $149,975 
Software
2-5
105,874 94,279 
Leasehold improvements
3-8
45,819 41,933 
Office furniture and equipment
3-8
23,898 21,199 
Motor vehicles
2-5
635 686 
Buildings
30
929 956 
Land—608 625 
Capital work in progress—7,504 12,276 
352,792 321,929 
Less: Accumulated depreciation and amortization(252,667)(222,333)
$100,125 $99,596 
ROU assets under finance leases:
Network equipment and computers56 58 
Leasehold improvements587 604 
Office furniture and equipment417 427 
Motor vehicles2,208 1,020 
3,268 2,109 
Less: Accumulated depreciation(1,556)(1,332)
$1,712 $777 
Property and equipment, net$101,837 $100,373 
During the years ended December 31, 2024 and 2023, there were no material changes in estimated useful lives of property and equipment during the ordinary course of operations.
The depreciation and amortization expense, excluding amortization of acquisition-related intangibles, recognized in the consolidated statements of income was as follows:
Year ended December 31,
202420232022
Depreciation and amortization expense$41,589 $35,812 $39,173 
Internally developed software costs included in property and equipment was as follows:
As of
December 31, 2024December 31, 2023
Cost$60,447 $46,625 
Less : Accumulated amortization(38,243)(25,413)
Internally developed software, net$22,204 $21,212 
The amortization expense on internally developed software recognized in the consolidated statements of income was as follows:
Year ended December 31,
202420232022
Amortization expense$12,849 $9,282 $5,958 

During the years ended December 31, 2024 and 2023, the Company performed an impairment test of its capitalized software for recoverability and determined that the carrying values of certain software were not fully recoverable. The Company recorded impairment charges amounting to $1,187 and $nil for the years ended December 31, 2024 and 2023, respectively under “Depreciation and amortization” expense in the consolidated statements of income.