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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Income Statement [Abstract]      
Revenues, net $ 1,630,668 $ 1,412,044 $ 1,122,293
Cost of revenues [1] 1,022,902 896,595 690,934
Gross profit [1] 607,766 515,449 431,359
Operating expenses:      
General and administrative expenses 198,294 169,016 142,040
Selling and marketing expenses 120,227 97,989 84,306
Depreciation and amortization expense 50,490 56,282 49,132
Total operating expenses 369,011 323,287 275,478
Income from operations 238,755 192,162 155,881
Foreign exchange gain, net 1,532 6,199 4,313
Interest expense (13,180) (8,252) (7,561)
Other income/(expense), net 10,834 (10) 6,773
Loss on settlement of convertible notes 0 0 (12,845)
Total before tax 237,941 190,099 146,561
Income tax expense 53,536 47,565 31,850
Income before earnings from equity affiliates 184,405 142,534 114,711
Gain from equity-method investment 153 434 47
Net income attributable to ExlService Holdings, Inc. stockholders $ 184,558 $ 142,968 $ 114,758
Earnings per share attributable to ExlService Holdings, Inc. stockholders:      
Basic (in dollars per share) [2] $ 1.11 $ 0.86 $ 0.68
Diluted (in dollars per share) [2] $ 1.10 $ 0.85 $ 0.67
Weighted average number of shares used in computing earnings per share attributable to ExlService Holdings, Inc. stockholders:      
Basic (in shares) [2] 166,341,213 166,651,585 167,746,375
Diluted (in shares) [2] 168,161,371 169,169,290 171,222,390
[1] Exclusive of depreciation and amortization expense.
[2] Prior period information has been adjusted to reflect the 5-for-1 forward stock split of the Company’s common stock effected in August 2023. Refer to Note 19 – Capital Structure to the consolidated financial statements for further details.