10. Derivatives

We enter into foreign currency exchange forward contracts with terms of one to three months in order to manage currency exposures related to monetary assets and liabilities denominated in a currency other than an entity’s functional currency. Any foreign currency remeasurement gains or losses recognized in earnings are generally offset with gains or losses on the foreign currency exchange forward contracts in the same reporting period. Outstanding contracts are recorded in our condensed consolidated balance sheets at fair value as of the end of the reporting period. The aggregate notional amounts of these contracts were $37.6 million and $27.9 million as of June 30, 2025 and December 31, 2024, respectively.

Current derivative assets of $1.4 million and $0 as of June 30, 2025 and December 31, 2024, respectively, were included in Prepaid expenses and other current assets on our condensed consolidated balance sheets. Current derivative liabilities of $0 and $0.4 million as of June 30, 2025 and December 31, 2024, respectively, were included in Other current liabilities in our condensed consolidated balance sheets. Gains from these derivative instruments recognized in our condensed consolidated statements of operations in Other income (expense), net were $2.6 million and $(0.3) million for the three months ended June 30, 2025 and 2024, respectively, and $4.0 million and $(0.4) million for the six months ended June 30, 2025 and 2024, respectively.