v3.25.2
Derivatives (Tables)
6 Months Ended
Jun. 30, 2025
Derivatives  
Schedule of fair value of derivative instruments included within the condensed consolidated balance sheets

The following table presents the fair value of derivative instruments included within the condensed consolidated balance sheets as of June 30, 2025 and December 31, 2024 (in thousands):

Balance Sheet Location

Fair Value

June 30, 

December 31,

    

    

2025

    

2024

Derivatives designated as hedging instruments:

 

  

 

  

 

  

Foreign currency forward contracts

 

Accrued expenses

$

-

$

499

Foreign currency forward contracts

 

Prepaid expenses and other current assets

$

161

$

-

Schedule of effect of foreign currency forward contracts designated as cash flow hedges on condensed consolidated statements of operations

The effect of foreign currency forward contracts designated as cash flow hedges on the condensed consolidated statements of operations for the three and six months ended June 30, 2025 and 2024 were as follows (in thousands):

 

For the Three Months Ended

For the Six Months Ended

 

June 30, 

June 30, 

    

2025

    

2024

    

2025

    

2024

Net gain (loss) recognized in OCI(1)

$

265

$

(193)

$

(386)

$

(206)

Net (gain) loss reclassified from accumulated OCI into income(2)

$

(17)

$

19

$

136

$

(2)

Net gain recognized in income(3)

$

-

$

-

$

-

$

-

(1)

Net change in fair value of the effective portion classified into other comprehensive income (“OCI”).

(2)

Effective portion classified within direct operating costs.

(3)

There were no ineffective portions for the periods presented.