v3.25.2
Derivatives and Hedging (Tables)
 6 Months Ended
Jun. 30, 2025
Derivatives and Hedging [Abstarct]  
Schedule of Outstanding Forward Contracts Not Designated as Hedging Instruments with Notional and Fair Value

As of June 30, 2025 and December 31, 2024, we had outstanding forward contracts not designated as hedging instruments with notional and fair value amounts equivalent to the following:

 

Currency Hedged  June 30,
2025		   December 31,
2024		 
   U.S. dollars in thousands 
Israeli Shekel / U.S. Dollar   5,069    20,038 
Fair value of derivatives assets   28    1 
Fair value of derivatives liabilities   600    605 

 

The following table shows the effect of our non-designated hedges on the Consolidated Statements of Operations for the Six months ended June 30, 2025:

 

   Location of Losses  Six months ended June 30,
2025		   Three months ended
June 30,
2025		 
      U.S. dollars in thousands 
Net realized and unrealized gain (loss), excluding the underlying foreign currency exposure being hedged  Financial income, net   (619)   (823)
Schedule of Notional and Fair Value Amount and Fair Value of Outstanding Derivatives

The notional and fair value amount and fair value of outstanding derivatives at the end of each period were:

 

   June 30,
2025		   December 31,
2024		 
   U.S. dollars in thousands 
Notional amount of foreign currency contracts   13,436    20,061 
Fair value of derivatives assets   1,335    601 
Schedule of Change in Accumulated Other Comprehensive Income Relating to Gains or Losses on Derivatives

The change in accumulated other comprehensive income relating to gains or losses on derivatives used for hedging was as follows:

 

   Six months
ended
June 30,
2025		   Three months
ended
June 30,
2025		 
   U.S. dollars in thousands 
Other comprehensive income before reclassifications   (1,348)   (1,703)
Amounts reclassified out of accumulated other comprehensive income (*)   614    427 
Other comprehensive income, net   (734)   (1,276)

 

(*)Amounts of gains reclassified from other comprehensive income into profit or loss are recorded in cost of revenue and operating expenses. In the six months ended June 30, 2025, $16 thousand, $391 thousand, $122 thousand and $85 thousand were recorded in cost of revenue, research and development, sales and marketing and general and administrative expenses, respectively.