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REVENUES
6 Months Ended
Jun. 30, 2020
Revenue from Contract with Customer [Abstract]  
REVENUES REVENUES
Disaggregation of Revenues
The following tables present the disaggregation of the Company’s revenues by customer location, including a reconciliation of the disaggregated revenues with the reportable segments (Note 13 “Segment Information”) for the periods indicated:
Three Months Ended June 30, 2020
Reportable Segments
North AmericaEuropeRussiaConsolidated Revenues
Customer Locations
North America$370,693  $10,835  $408  $381,936  
Europe11,195  199,866   211,064  
CIS2,236   19,838  22,078  
APAC705  16,600  —  17,305  
        Revenues$384,829  $227,305  $20,249  $632,383  

Six Months Ended June 30, 2020
Reportable Segments
North AmericaEuropeRussiaConsolidated Revenues
Customer Locations
North America$748,477  $21,254  $2,035  $771,766  
Europe21,527  412,588   434,121  
CIS4,790  16  42,132  46,938  
APAC1,137  29,780  —  30,917  
        Revenues$775,931  $463,638  $44,173  $1,283,742  

Three Months Ended June 30, 2019
Reportable Segments
North AmericaEuropeRussiaConsolidated Revenues
Customer Locations
North America$323,221  $11,551  $16  $334,788  
Europe5,219  172,027  99  177,345  
CIS2,005  —  23,086  25,091  
APAC580  13,783  —  14,363  
        Revenues$331,025  $197,361  $23,201  $551,587  
Six Months Ended June 30, 2019
Reportable Segments
North AmericaEuropeRussiaConsolidated Revenues
Customer Locations
North America$626,966  $24,442  $32  $651,440  
Europe9,966  340,647  240  350,853  
CIS3,744  13  39,508  43,265  
APAC1,038  26,324  —  27,362  
        Revenues$641,714  $391,426  $39,780  $1,072,920  
        
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 13 “Segment Information”) for the periods indicated:
Three Months Ended June 30, 2020
Reportable Segments
North AmericaEuropeRussiaConsolidated Revenues
Industry Verticals
Business Information & Media$81,481  $58,338  $439  $140,258  
Financial Services47,687  66,655  13,633  127,975  
Software & Hi-Tech100,801  18,165  519  119,485  
Travel & Consumer52,193  51,253  3,824  107,270  
Life Sciences & Healthcare61,776  7,069  39  68,884  
Emerging Verticals40,891  25,825  1,795  68,511  
        Revenues$384,829  $227,305  $20,249  $632,383  

Six Months Ended June 30, 2020
Reportable Segments
North AmericaEuropeRussiaConsolidated Revenues
Industry Verticals
Business Information & Media$161,701  $116,484  $799  $278,984  
Financial Services95,555  134,249  29,814  259,618  
Software & Hi-Tech202,538  36,311  2,485  241,334  
Travel & Consumer106,917  112,320  7,563  226,800  
Life Sciences & Healthcare123,387  14,688  48  138,123  
Emerging Verticals85,833  49,586  3,464  138,883  
        Revenues$775,931  $463,638  $44,173  $1,283,742  
Three Months Ended June 30, 2019
Reportable Segments
North AmericaEuropeRussiaConsolidated Revenues
Industry Verticals
Business Information & Media$62,340  $35,691  $104  $98,135  
Financial Services43,517  58,879  18,009  120,405  
Software & Hi-Tech85,600  19,440  478  105,518  
Travel & Consumer48,178  56,175  2,761  107,114  
Life Sciences & Healthcare54,287  4,907   59,198  
Emerging Verticals37,103  22,269  1,845  61,217  
        Revenues$331,025  $197,361  $23,201  $551,587  
Six Months Ended June 30, 2019
Reportable Segments
North AmericaEuropeRussiaConsolidated Revenues
Industry Verticals
Business Information & Media$124,701  $68,222  $244  $193,167  
Financial Services81,911  120,714  31,041  233,666  
Software & Hi-Tech164,721  39,810  918  205,449  
Travel & Consumer95,178  111,377  4,885  211,440  
Life Sciences & Healthcare104,443  9,463  66  113,972  
Emerging Verticals70,760  41,840  2,626  115,226  
        Revenues$641,714  $391,426  $39,780  $1,072,920  

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 13 “Segment Information”) for the periods indicated:
Three Months Ended June 30, 2020
Reportable Segments
North AmericaEuropeRussiaConsolidated Revenues
Contract Types
Time-and-material$348,715  $192,173  $13,972  $554,860  
Fixed-price33,855  32,253  6,259  72,367  
Licensing1,958  545   2,512  
Other revenues
301  2,334   2,644  
        Revenues$384,829  $227,305  $20,249  $632,383  
Six Months Ended June 30, 2020
Reportable Segments
North AmericaEuropeRussiaConsolidated Revenues
Contract Types
Time-and-material$705,978  $382,493  $27,568  $1,116,039  
Fixed-price65,710  77,508  15,080  158,298  
Licensing3,728  707  1,467  5,902  
Other revenues
515  2,930  58  3,503  
        Revenues$775,931  $463,638  $44,173  $1,283,742  

Three Months Ended June 30, 2019
Reportable Segments
North AmericaEuropeRussiaConsolidated Revenues
Contract Types
Time-and-material$300,326  $167,581  $12,047  $479,954  
Fixed-price29,681  29,204  10,943  69,828  
Licensing624  142  196  962  
Other revenues
394  434  15  843  
        Revenues$331,025  $197,361  $23,201  $551,587  

Six Months Ended June 30, 2019
Reportable Segments
North AmericaEuropeRussiaConsolidated Revenues
Contract Types
Time-and-material$585,051  $335,794  $23,319  $944,164  
Fixed-price54,421  54,450  16,230  125,101  
Licensing1,460  540  202  2,202  
Other revenues
782  642  29  1,453  
        Revenues$641,714  $391,426  $39,780  $1,072,920  

Timing of Revenue Recognition
The following tables present the timing of revenue recognition for the periods indicated:
Three Months Ended June 30, 2020
Reportable Segments
North AmericaEuropeRussiaConsolidated Revenues
Timing of Revenue Recognition
Transferred over time$383,573  $227,073  $20,240  $630,886  
Transferred at a point of time1,256  232   1,497  
        Revenues$384,829  $227,305  $20,249  $632,383  
Six Months Ended June 30, 2020
Reportable Segments
North AmericaEuropeRussiaConsolidated Revenues
Timing of Revenue Recognition
Transferred over time$773,383  $463,244  $42,708  $1,279,335  
Transferred at a point of time2,548  394  1,465  4,407  
        Revenues$775,931  $463,638  $44,173  $1,283,742  

Three Months Ended June 30, 2019
Reportable Segments
North AmericaEuropeRussiaConsolidated Revenues
Timing of Revenue Recognition
Transferred over time$330,819  $197,255  $23,201  $551,275  
Transferred at a point of time206  106  —  312  
        Revenues$331,025  $197,361  $23,201  $551,587  

Six Months Ended June 30, 2019
Reportable Segments
North AmericaEuropeRussiaConsolidated Revenues
Timing of Revenue Recognition
Transferred over time$641,104  $391,273  $39,780  $1,072,157  
Transferred at a point of time610  153  —  763  
        Revenues$641,714  $391,426  $39,780  $1,072,920  

Performance obligations satisfied in prior periods led to a reduction of $3,669 of revenues during the three months ended June 30, 2020 and an increase of $4,182 of revenues during the six months ended June 30, 2020. The Company recognized revenues associated with performance obligations satisfied in previous periods of $7,693 and $4,119 during the three and six months ended June 30, 2019, respectively.
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 June 30, 2020. The Company applies a practical expedient and does not disclose the value of unsatisfied performance obligations for contracts that (i) have an original expected duration of one year or less and (ii) contracts 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$15,395  $546  $—  $—  $15,941  
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
June 30,
2020
As of
December 31,
2019
Contract assets included in Trade receivables and contract assets$12,353  $14,320  
Contract liabilities included in Accrued expenses and other current liabilities$11,461  $9,132  
Contract assets have not materially changed from December 31, 2019. Contract liabilities comprise amounts collected from the Company’s customers for revenues not yet earned. Such amounts are anticipated to be recorded as revenues when services are performed in subsequent periods. Contract liabilities have not materially changed from December 31, 2019.
During the three and six months ended June 30, 2020, the Company recognized $1,325 and $7,862 of revenues, respectively, that were included in Accrued expenses and other current liabilities at December 31, 2019. During the three and six months ended June 30, 2019, the Company recognized $610 and $3,661 of revenues, respectively, that were included in Accrued expenses and other current liabilities at December 31, 2018.