v3.26.1
Revenues
 6 Months Ended
Jun. 30, 2026
Revenue from Contract with Customer [Abstract]  
Revenues Revenues
Disaggregation of revenues
The tables below present disaggregated revenues from contracts with customer by customer location, industries and contract-types. The Company believes this disaggregation best depicts how the nature, amount, timing and uncertainty of its revenues and cash flows are affected by industry, market and other economic factors. The Company has a single reportable segment for the three and six months ended June 30, 2026 and 2025.
The following table shows the disaggregation of the Company’s revenues by major customer location. Revenues are attributed to geographic regions based upon location of the customer served irrespective of the location billed, or the location of the
delivery center performing the work. Substantially all of the revenue in our North America region relates to operations in the United States.
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Customer Location(in thousands)
North America$74,626 $71,086 $145,649 $143,770 
Europe25,039 20,855 49,671 39,818 
Other8,499 9,154 16,944 17,922 
Revenues
$108,164 $101,095 $212,264 $201,510 
The following table shows the disaggregation of the Company’s revenues by main vertical markets:
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Vertical(in thousands)
Technology, Media and Telecom$34,357 $25,188 $65,116 $48,790 
Retail28,640 28,845 56,423 60,000 
Finance24,736 25,386 49,190 50,414 
CPG/Manufacturing(1)
11,796 11,316 23,344 22,453 
Healthcare and Pharma
2,109 2,556 4,263 4,961 
Other6,526 7,804 13,928 14,892 
Revenues
$108,164 $101,095 $212,264 $201,510 
__________________________
(1)CPG stands for Consumer Packaged Goods.
The following table shows the disaggregation of the Company’s revenues by contract types:
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Contract Type(in thousands)
Time-and-material$100,527 $93,827 $196,066 $186,245 
Fixed-fee7,637 6,683 16,198 14,045 
Other revenues— 585 — 1,220 
Revenues
$108,164 $101,095 $212,264 $201,510 
Contract balances
A contract asset is a right to consideration that is conditional upon factors other than the passage of time. A contract liability, or deferred revenue, consists of advance payments and billings in excess of revenues recognized.
The Company’s contract balances as of the below dates were as follows:
As of
June 30,
2026		December 31, 2025December 31, 2024
(in thousands)
Trade receivables, net:
Billed receivables
$87,240 $71,260 $64,754 
Unbilled receivables
$8,322 $8,225 $4,617 
Contract liabilities in Accrued expenses and other current liabilities
$1,508 $1,469 $2,690 
As of June 30, 2026, December 31, 2025 and 2024, the Company did not have contract assets recorded in its condensed consolidated balance sheets.
During the three and six months ended June 30, 2026, the Company recognized $0.2 million and $0.4 million of revenues, respectively, that were included in Accrued expenses and other current liabilities at December 31, 2025. During the three and six months ended June 30, 2025, the Company recognized $0.7 million and $2.3 million of revenues, respectively, that were included in Accrued expenses and other current liabilities at December 31, 2024.
Remaining performance obligations
ASC Topic 606 requires that the Company disclose the aggregate amount of transaction price that is allocated to performance obligations that have not yet been satisfied as of June 30, 2026. This disclosure is not required for:
1)contracts with an original duration of one year or less, including contracts that can be terminated for convenience without a substantive penalty,
2)contracts for which the Company recognizes revenues based on the right to invoice for services performed,
3)variable consideration allocated entirely to a wholly unsatisfied performance obligation or to a wholly unsatisfied promise to transfer a distinct good or service that forms part of a single performance obligation in accordance with ASC 606-10-25-14(b), for which the criteria in ASC 606-10-32-40 have been met, or
4)variable consideration in the form of a sales-based or usage-based royalty promised in exchange for a license of intellectual property.
All of our performance obligations met one or more of these exemptions as of June 30, 2026.
Customer concentration
The following table shows the amount of revenue derived from each customer exceeding 10% of the Company’s revenues:
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Customer 117.4 %15.1 %17.3 %14.7 %
The following table shows the number of customers exceeding 10% of the Company’s billed and unbilled receivables balances:
As of
June 30,
2026		December 31,
2025
Billed receivables
11
Unbilled receivables
32
Transactions with related parties
During the three and six months ended June 30, 2026 and 2025, the Company conducted transactions with a number of companies affiliated with the members of the Company’s Board of Directors. As a result, during the three and six months ended June 30, 2026, the Company recorded revenues from related parties of $8.7 million and $16.3 million, respectively. During the same periods of 2025, the Company recorded revenues from related parties of $7.5 million and $14.2 million, respectively. As of June 30, 2026 and December 31, 2025, billed receivables from related parties were $6.5 million and $4.6 million, respectively. Unbilled receivables from related parties as of June 30, 2026 and December 31, 2025 were $0.3 million, respectively.