On July 31, 2026, the Company, through its wholly owned subsidiary Clairvoyant AI, Inc., completed the acquisition of I Merit Inc., a Delaware Corporation (“iMerit”), pursuant to a securities purchase agreement dated June 22, 2026 (the "Purchase Agreement"). The Company purchased 100% of the issued and outstanding equity securities in iMerit.

iMerit is a recognized leader in AI model training, evaluation and reinforcement learning. It is focused on helping its clients train large language and multimodal models to improve accuracy, precision, and effectiveness. The acquisition strengthens the Company's ability to help enterprises achieve measurable outcomes from AI, builds partnerships with leading foundation model builders and expands its reach into high-growth AI tech sectors.

The base purchase consideration payable at the closing was $170,000, excluding cash and cash equivalents acquired, debt and other estimated post-closing adjustments. The Purchase Agreement allows the sellers the ability to earn up to $125,000 of contingent consideration, based on the achievement of certain performance goals by iMerit during the two years ending June 30, 2028. The Purchase Agreement also allows for deferred consideration of $15,000, payable six months following the closing date. A portion of the purchase consideration otherwise payable was placed into escrow as security for the post-closing working capital adjustments and the indemnification obligations under the Purchase Agreement. To finance the acquisition, the Company utilized available cash on hand and borrowing from its credit facility.

Contingent consideration and deferred consideration are presented under “Accrued expenses and other current liabilities” and “Other non-current liabilities,” as applicable, in the consolidated balance sheets, and are initially classified as non-cash investing activities under ASC Topic 230, Statement of Cash Flows.

The fair value of assets acquired and liabilities assumed from the acquisition of iMerit is based on a preliminary valuation and, as such, the Company's estimates and assumptions are subject to change within the measurement period. The Company is in the process of finalizing the adjustments related to debt, working capital position, tax and other post-closing adjustments, which, when determined, may result in the recognition of additional assets or liabilities as of the acquisition date, and shall, accordingly, lead to the finalization of the purchase consideration. The measurement period will not exceed one year from the acquisition date.


Cash and cash equivalents	$	8,756
Accounts receivable, net	9,306
Intangible assets, net
Customer-related intangibles	60,100
Developed technology	13,300
Trade names and trademarks	2,700
Other assets(1)	18,417
Accrued expenses and other current liabilities	(17,786)
Deferred tax liabilities, net	(10,965)
Other liabilities(2)	(17,050)
Goodwill	163,101
Total purchase consideration	$	229,879

The fair value of customer-related intangible assets was determined using the multi-period excess earnings method, while the fair value of developed technology was determined using the replacement cost method. These intangible assets are amortized on a straight-line basis, which approximates the economic pattern of benefits, over the estimated weighted average useful lives of 7 years for customer-related intangible assets and 3 years for developed technology assets.

As of the acquisition date, the Company recognized an indemnification asset of $12,069 related to potential pre-closing income tax and indirect tax obligations, including estimated interest and penalties, as covered under the terms of the Purchase

Agreement. The indemnification asset is presented under “Other assets” and the $12,069 related tax obligations under "Other non-current liabilities" in the consolidated balance sheets.

The goodwill recognized represents the acquired capabilities, operating synergies and other benefits expected to result from combining the acquired operations with the Company’s existing operations. Goodwill is not deductible for income tax purposes. In connection with the acquisition, goodwill has been allocated to the Company’s Healthcare and Life Sciences, Banking, Capital Markets and Diversified Industries, and International Growth Markets reportable segments based on the Company’s assessment of the nature of services rendered by iMerit and allocated to each segment using a relative fair value method.

Acquisition-related costs are expensed as incurred and are included in “General and administrative expenses” in the unaudited consolidated statements of income. The Company recognized acquisition-related costs of $869 and $2,763 during the three and nine months ended September 30, 2026, respectively.

The results of operations of the acquired business and the fair value of the acquired assets and assumed liabilities are included in the Company’s unaudited consolidated financial statements with effect from the date of the acquisition. The acquisition did not materially impact the Company's financial position, results of operations or cash flows, and therefore, the Company has not provided unaudited supplemental pro forma results.


	Insurance		Healthcare and Life Sciences		Banking, Capital Markets and Diversified Industries		International Growth Markets		Total



Balance as of December 31, 2025	$	77,269	$	189,594	$	100,153	$	52,638	$	419,654
Acquisition	—		16,310		138,636		8,155		163,101

Currency translation adjustments	(30)		(35)		(607)		(488)		(1,160)
Balance as of September 30, 2026	$	77,239	$	205,869	$	238,182	$	60,305	$	581,595

During the three and nine months ended September 30, 2026 and 2025, the Company performed an assessment to determine whether events or circumstances exist that may lead to a determination that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. Based on such assessment, the Company concluded that there was no impairment on goodwill as of September 30, 2026 and 2025.


	As of September 30, 2026						As of December 31, 2025
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Finite-lived intangible assets:
Customer-related intangibles	$	168,650	$	(85,167)	$	83,483	$	108,550	$	(73,482)	$	35,068
Developed technology	16,917		(4,352)		12,565		3,636		(3,558)		78
Trade names and trademarks	4,400		(1,825)		2,575		1,700		(1,542)		158
Non-compete agreements	300		(300)		—		300		(300)		—

	190,267		(91,644)		98,623		114,186		(78,882)		35,304

Indefinite-lived intangible assets:	900		—		900		900		—		900
Other intangible assets	$	191,167	$	(91,644)	$	99,523	$	115,086	$	(78,882)	$	36,204