Cash, Cash Equivalents and Restricted Cash (Tables)

9 Months Ended

Sep. 30, 2024

Cash and Cash Equivalents [Abstract]

Schedule of Cash and Cash Equivalents

For the purposes of unaudited statements of cash flows, cash, cash equivalents and restricted cash consist of the following:

	As of
	September 30, 2024		September 30, 2023		December 31, 2023
Cash and cash equivalents	$	150,102	$	122,655	$	136,953
Restricted cash (current) (1)	7,342		3,257		4,062
Restricted cash (non-current) (2)	5,820		2,047		4,386
Cash, cash equivalents and restricted cash	$	163,264	$	127,959	$	145,401

(1) Restricted cash (current) primarily represents funds held on behalf of customers in dedicated bank accounts. The corresponding liability against the same is included under “Accrued Expenses and other current liabilities.” Restricted cash also includes funds held as collateral in a dedicated bank account for irrevocable letters of credit issued in favor of third parties for facility leases.

(2) Restricted cash (non-current) represents deposits with banks against bank guarantees issued through banks in favor of relevant statutory authorities for equipment imports, deposits for obtaining indirect tax registrations and for demands against pending income tax and value added tax (“VAT”) assessments. These deposits with banks will mature one year after the balance sheet date.

Restrictions on Cash and Cash Equivalents

For the purposes of unaudited statements of cash flows, cash, cash equivalents and restricted cash consist of the following:

	As of
	September 30, 2024		September 30, 2023		December 31, 2023
Cash and cash equivalents	$	150,102	$	122,655	$	136,953
Restricted cash (current) (1)	7,342		3,257		4,062
Restricted cash (non-current) (2)	5,820		2,047		4,386
Cash, cash equivalents and restricted cash	$	163,264	$	127,959	$	145,401

(1) Restricted cash (current) primarily represents funds held on behalf of customers in dedicated bank accounts. The corresponding liability against the same is included under “Accrued Expenses and other current liabilities.” Restricted cash also includes funds held as collateral in a dedicated bank account for irrevocable letters of credit issued in favor of third parties for facility leases.

(2) Restricted cash (non-current) represents deposits with banks against bank guarantees issued through banks in favor of relevant statutory authorities for equipment imports, deposits for obtaining indirect tax registrations and for demands against pending income tax and value added tax (“VAT”) assessments. These deposits with banks will mature one year after the balance sheet date.