Property and Equipment, net (Tables)

12 Months Ended

Dec. 31, 2025

Property, Plant and Equipment [Abstract]

Property and equipment consists of the following:


		As of
	Estimated useful lives (Years)	December 31, 2025		December 31, 2024
Owned Assets:
Network equipment and computers	3-5	$	189,459	$	167,525
Software	2-5	81,340		105,874
Leasehold improvements	3-8	53,299		45,819
Office furniture and equipment	3-8	27,139		23,898
Motor vehicles	2-5	650		635
Buildings	30	885		929
Land	—	579		608
Capital work in progress	—	10,680		7,504
		364,031		352,792
Less: Accumulated depreciation and amortization		(254,243)		(252,667)
		$	109,788	$	100,125
ROU assets under finance leases:
Network equipment and computers		49		56
Leasehold improvements		410		587
Office furniture and equipment		124		417
Motor vehicles		2,944		2,208
		3,527		3,268
Less: Accumulated amortization		(1,494)		(1,556)
		$	2,033	$	1,712
Property and equipment, net		$	111,821	$	101,837

The depreciation and amortization expense, excluding amortization of acquisition-related intangibles, recognized in the consolidated statements of income was as follows:


	Year ended December 31,
	2025		2024		2023
Depreciation and amortization expense	$	45,944	$	41,589	$	35,812

Internally developed software costs included in property and equipment were as follows:


	As of
	December 31, 2025		December 31, 2024
Cost	$	59,391	$	60,447
Less : Accumulated amortization	(39,332)		(38,243)
Internally developed software, net	$	20,059	$	22,204

The amortization expense on internally developed software recognized in the consolidated statements of income was as follows:


	Year ended December 31,
	2025		2024		2023
Amortization expense	$	13,403	$	12,849	$	9,282

ExlService Holdings, Inc. 10-K