v3.25.2
Segment reporting
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Segment reporting Segment reporting
The Company manages various types of business process and information technology services in an integrated manner for clients in various industries and geographic locations. The Company's operating segments are significant strategic business units that align its products and services with how it manages its business, approaches key markets and interacts with its clients.
The Company’s reportable segments are as follows: (i) Financial Services, (ii) Consumer and Healthcare, and (iii) High Tech and Manufacturing.
The Company’s Chief Executive Officer, who has been identified as the Chief Operating Decision Maker ("CODM"), is presented with operating segment revenue and operating segment adjusted income from operations ("AOI"). The CODM uses both revenue and AOI to review the monthly and quarterly performance of the Company's operating segments. The CODM uses AOI, which is gross margin and G&A expenditures, to assess capacity for investments in each segment, including sales capacity, delivery resources, offerings and solutions, or partnerships. The Company does not allocate, and therefore the CODM does not evaluate, stock-based compensation expenses, amortization of acquired intangible assets, unallocated corporate expenses, foreign exchange gain/(loss), interest income/(expense), restructuring (expense)/income, acquisition related expenses, gains/(loss) from businesses held for sale, including impairment charges, other income/(expense), or income taxes by segment. Unallocated corporate expenses primarily represent the impact of certain under or over-absorption of overhead and allowances for credit losses, which are not allocated to the Company’s segments for management’s internal reporting purposes. The Company’s operating assets and liabilities pertain to multiple segments. The Company manages assets and liabilities on a total company basis, not by operating segment, and therefore asset and liability information and capital expenditures by operating segment are not presented to the CODM and are not reviewed by the CODM.
The Company adopted ASU No. 2023-07, "Segment Reporting" (Topic 280), during the year ended December 31, 2024 and has provided the additional segment related information required by ASU 2023-07 for the three and six months ended June 30, 2025 and for the comparative three and six months ended June 30, 2024. Accordingly, the Company has identified cost of revenue as the significant segment expense that is provided to the CODM on a regular basis. The Company has also provided information related to other segment items.
18. Segment reporting (Continued)
Revenues, cost of revenue, other segment items and adjusted income from operations for each of the Company’s segments for the three months ended June 30, 2024 were as follows:
Net revenuesCost of RevenueOther segment items*AOI
Financial Services$319,144 $203,745 $62,304 $53,095 
Consumer and Healthcare424,003 275,487 77,790 70,726 
High Tech and Manufacturing433,065 280,602 77,870 74,593 
Net revenues$1,176,212 
Unallocated corporate expenses— — 
Stock-based compensation expense(18,369)
Amortization of acquired intangible assets
(6,544)
Foreign exchange gains, net2,454 
Interest income (expense), net(13,538)
Income tax expense(40,427)
Net income$121,990 
*Other segment items primarily includes selling, general and administrative expenses (excluding stock-based compensation expenses), other operating (income) expense, net and other income (expense), net.
18. Segment reporting (Continued)

Revenues, cost of revenue, other segment items and adjusted income from operations for each of the Company’s segments for the three months ended June 30, 2025 were as follows:
Net revenuesCost of RevenueOther segment items*AOI
Financial Services$338,617 $213,791 $61,369 $63,457 
Consumer and Healthcare428,565 278,815 73,719 76,031 
High Tech and Manufacturing487,236 311,744 85,476 90,016 
Net revenues$1,254,418 
Unallocated corporate expenses12,234 (12,234)
Stock-based compensation(21,798)
Amortization of acquired intangible assets
(4,315)
Foreign exchange gains, net376 
Interest income (expense), net(13,485)
Acquisition-related expenses
(1,310)
Income tax expense(44,022)
Net income$132,716 
*Other segment items primarily includes selling, general and administrative expenses (excluding stock-based compensation expenses), other operating (income) expense, net and other income (expense), net.        
18. Segment reporting (Continued)
Revenues, cost of revenue, other segment items and adjusted income from operations for each of the Company’s segments for the six months ended June 30, 2024 were as follows:
Net revenuesCost of RevenueOther segment items*AOI
Financial Services$625,612 $401,148 $124,366 $100,098 
Consumer and Healthcare827,376 537,636 152,218 137,522 
High Tech and Manufacturing854,461 555,809 155,013 143,639 
Net revenues$2,307,449 
Unallocated corporate expenses966 (966)
Stock-based compensation(27,550)
Amortization of acquired intangible assets
(13,469)
Foreign exchange gains, net3,291 
Interest income (expense), net(23,780)
Income tax expense(79,848)
Net income$238,937 
*Other segment items primarily includes selling, general and administrative expenses (excluding stock-based compensation expenses), other operating (income) expense, net and other income (expense), net.
18. Segment reporting (Continued)
Revenues, cost of revenue, other segment items and adjusted income from operations for each of the Company’s segments for the six months ended June 30, 2025 were as follows:
Net revenuesCost of RevenueOther segment items*AOI
Financial Services$665,837 $420,629 $123,559 $121,649 
Consumer and Healthcare849,049 552,445 150,249 146,355 
High Tech and Manufacturing954,458 617,208 167,119 170,131 
Net revenues$2,469,344 
Unallocated corporate expenses11,131 (11,131)
Stock-based compensation(41,834)
Amortization of acquired intangible assets
(8,633)
Foreign exchange gains, net1,665 
Interest income (expense), net(24,931)
Acquisition-related expenses
(1,310)
Income tax expense(88,392)
Net income$263,569 
*Other segment items primarily includes selling, general and administrative expenses (excluding stock-based compensation expenses), other operating (income) expense, net and other income (expense), net.