v3.26.1
REVENUES
 3 Months Ended
Mar. 31, 2026
Revenue from Contract with Customer [Abstract]  
REVENUES REVENUES
Disaggregation of Revenues
The following tables present the disaggregation of the Company’s revenues by client location, including a reconciliation of the disaggregated revenues with the reportable segments (Note 14 “Segment Information”) for the periods indicated:
Three Months Ended March 31, 2026
Reportable Segments
AmericasEuropeConsolidated Revenues
Client Locations
Americas$748,501 $50,968 $799,469 
EMEA46,426 529,586 576,012 
APAC469 24,111 24,580 
Revenues$795,396 $604,665 $1,400,061 

Three Months Ended March 31, 2025
Reportable Segments
AmericasEuropeConsolidated Revenues
Client Locations
Americas$742,052 $38,233 $780,285 
EMEA34,916 462,199 497,115 
APAC200 24,092 24,292 
Revenues$777,168 $524,524 $1,301,692 
The following tables present the disaggregation of the Company’s revenues by industry vertical, including a reconciliation of the disaggregated revenues with the reportable segments (Note 14 “Segment Information”) for the periods indicated:
Three Months Ended March 31, 2026
Reportable Segments
AmericasEuropeConsolidated Revenues
Industry Verticals
Financial Services$165,446 $184,754 $350,200 
Consumer Goods, Retail & Travel122,190 151,687 273,877 
Software & Hi-Tech132,822 77,898 210,720 
Business Information & Media115,897 49,482 165,379 
Life Sciences & Healthcare125,033 39,101 164,134 
Emerging Verticals134,008 101,743 235,751 
Revenues$795,396 $604,665 $1,400,061 

Three Months Ended March 31, 2025
Reportable Segments
AmericasEuropeConsolidated Revenues
Industry Verticals
Financial Services$149,350 $164,615 $313,965 
Consumer Goods, Retail & Travel114,675 140,837 255,512 
Software & Hi-Tech135,662 54,411 190,073 
Business Information & Media113,220 53,327 166,547 
Life Sciences & Healthcare125,979 28,975 154,954 
Emerging Verticals138,282 82,359 220,641 
Revenues$777,168 $524,524 $1,301,692 
The following tables present the disaggregation of the Company’s revenues by contract type including a reconciliation of the disaggregated revenues with the Company’s reportable segments (Note 14 “Segment Information”) for the periods indicated:
Three Months Ended March 31, 2026
Reportable Segments
AmericasEuropeConsolidated Revenues
Contract Types
Time-and-materials$630,569 $458,459 $1,089,028 
Fixed-price158,094 145,614 303,708 
Licensing and other revenues6,733 592 7,325 
Revenues$795,396 $604,665 $1,400,061 
Three Months Ended March 31, 2025
Reportable Segments
AmericasEuropeConsolidated Revenues
Contract Types
Time-and-materials$641,173 $400,539 $1,041,712 
Fixed-price129,378 122,784 252,162 
Licensing and other revenues6,617 1,201 7,818 
Revenues$777,168 $524,524 $1,301,692 
Performance Obligations
During the three months ended March 31, 2026, the Company recognized $24.0 million of revenues from performance obligations satisfied in previous periods compared to $12.6 million during the three months ended March 31, 2025.
The following table includes the estimated revenues expected to be recognized in the future related to performance obligations that are partially or fully unsatisfied as of March 31, 2026. The Company applies a practical expedient and does not disclose the value of unsatisfied performance obligations for contracts (i) that have an original expected duration of one year or less and (ii) for which it recognizes revenues at the amount to which it has the right to invoice for services provided.
Less than 1 year1 Year2 Years3 YearsTotal
Contract Type
Fixed-price$43,432 $1,840 $— $— $45,272 
The Company applies a practical expedient and does not disclose the amount of the transaction price allocated to the remaining performance obligations nor provide an explanation of when the Company expects to recognize that amount as revenue for certain variable consideration.

Contract Balances
The following table provides information on the classification of contract assets and liabilities in the condensed consolidated balance sheets:
 As of
March 31,
2026		As of
December 31,
2025
Contract assets included in trade receivables and contract assets, net$69,859 $58,513 
Contract assets included in other noncurrent assets
$1,909 $246 
Contract liabilities included in accrued expenses and other current liabilities$88,162 $104,219 
Contract liabilities included in other noncurrent liabilities$1,076 $674 
Contract assets comprise amounts where the Company’s right to bill is contingent on something other than the passage of time such as achievement of contractual milestones. Contract assets have increased from December 31, 2025 primarily due to contracts where the Company’s right to bill is contingent upon achievement of contractual milestones. Contract liabilities comprise amounts collected from the Company’s clients for revenues not yet earned and such amounts are anticipated to be recorded as revenues when services are performed in subsequent periods. Contract liabilities included $38.2 million and $51.2 million from a single customer at March 31, 2026 and December 31, 2025, respectively. Contract liabilities have decreased from December 31, 2025 primarily due to lower levels of advance collections.
During the three months ended March 31, 2026, the Company recognized $43.3 million of revenues that were included in Accrued expenses and other current liabilities at December 31, 2025. During the three months ended March 31, 2025, the Company recognized $26.3 million of revenues that were included in Accrued expenses and other current liabilities at December 31, 2024.