| Schedule of Information About Significant Expense |
The following table presents selected financial information with respect to the Company’s single operating segment for the three and six months ended June 30, 2025 and 2024 (in thousands):
| | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended
June 30, | | 2025 | | 2024 | | 2025 | | 2024 | | Revenue | $ | 104,114 | | | $ | 103,123 | | | $ | 208,318 | | | $ | 209,868 | | | Less: | | | | | | | | | Cost of revenue, adjusted | | | | | | | | Employee compensation and benefits (a) | 25,084 | | | 26,957 | | | 50,125 | | | 54,227 | | | Engineering consulting costs | 6,609 | | | 6,067 | | | 12,754 | | | 12,529 | | | Administrative allocations | 4,273 | | | 4,192 | | | 8,535 | | | 8,231 | | All other costs (b) | 4,667 | | | 4,405 | | | 9,225 | | | 8,935 | | | Total cost of revenue, adjusted | 40,633 | | | 41,621 | | | 80,639 | | | 83,922 | | Sales and marketing, adjusted (c) | 36,992 | | | 36,801 | | | 70,321 | | | 75,538 | | General and administrative, adjusted (c) | 14,770 | | | 17,401 | | | 30,258 | | | 33,390 | | | Stock-based compensation expense | 2,873 | | | 2,405 | | | 5,575 | | | 4,963 | | | Depreciation and amortization expense | 858 | | | 860 | | | 1,789 | | | 1,733 | | | Reorganization costs | 722 | | | 3,208 | | | 1,184 | | | 3,208 | | | Litigation costs and related recoveries, net | (33,932) | | | 1,602 | | | (32,007) | | | 4,527 | | | Interest expense | 1,629 | | | 1,483 | | | 3,304 | | | 2,824 | | | Other (income) expenses, net | (1,232) | | | (1,492) | | | (1,155) | | | (2,457) | | | Income taxes | 10,543 | | | 382 | | | 14,802 | | | 2,051 | | | Segment net income (loss) | 30,258 | | | (1,148) | | | 33,608 | | | 169 | | | | | | | | | | | Reconciliation of profit | | | | | | | | | Adjustments and reconciling items | — | | | — | | | — | | | — | | | Consolidated net income (loss) | $ | 30,258 | | | $ | (1,148) | | | $ | 33,608 | | | $ | 169 | |
(a) Adjusted to exclude stock-based compensation expense. (b) Adjusted to exclude depreciation and amortization expense. (c) Adjusted to exclude stock-based compensation expense as well as depreciation and amortization expense.
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| Schedule of Geographical Revenue |
The Company attributes revenues to geographic regions based on the location of its clients. The following table shows revenues by geographic region (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended
June 30, | | Six Months Ended
June 30, | | | 2025 | | 2024 | | 2025 | | 2024 | | United States of America | $ | 49,163 | | | $ | 51,454 | | | $ | 99,258 | | | $ | 105,262 | | | International | 54,951 | | | 51,669 | | | 109,060 | | | 104,606 | | | Total | $ | 104,114 | | | $ | 103,123 | | | $ | 208,318 | | | $ | 209,868 | |
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| Schedule of Geographical Property Plant and Equipment and Operating Lease Right of Use Asset |
The Company tracks its assets by physical location. The following shows the net carrying value of the Company’s property and equipment by geographic region (in thousands):
| | | | | | | | | | | | | | June 30, 2025 | | December 31, 2024 | | United States of America | $ | 6,364 | | | $ | 7,007 | | | Brazil | 2,425 | | | 754 | | | India | 1,005 | | | 1,432 | | | Rest of World | 1,078 | | | 698 | | | Total property and equipment, net | $ | 10,872 | | | $ | 9,891 | |
The operating lease ROU assets by geographic region were as follows (in thousands):
| | | | | | | | | | | | | | June 30, 2025 | | December 31, 2024 | | India | $ | 15,749 | | | $ | 1,390 | | | United States of America | 3,502 | | | 4,112 | | | Brazil | 1,068 | | | 1,193 | | | Korea | 702 | | | 171 | | | Rest of World | 261 | | | 295 | | | Total operating lease right-of-use assets | $ | 21,282 | | | $ | 7,161 | |
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