v3.25.4
Derivatives (Tables)
12 Months Ended
Dec. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Summary of Fair Value of Derivative Financial Instruments

The following summarizes the fair value of derivative financial instruments as of December 31, 2025 and 2024:
 

 

December 31, 2025

 

 

December 31, 2024

 

 

(in thousands)

 

Prepaid expenses and other current assets

 

 

 

 

 

Cash flow hedges

$

240

 

 

$

 

Total

$

240

 

 

$

 

 

 

 

 

 

 

Accrued expenses and other current liabilities

 

 

 

 

 

Cash flow hedges

$

83

 

 

$

584

 

Balance sheet hedges

 

298

 

 

 

 

Total

$

381

 

 

$

584

 

Schedule of Derivatives and Impact on AOCI

The following table presents the activity of foreign currency forward contracts designated as hedging instruments and the impact of these derivatives on AOCI:
 

 

Year Ended December 31,

 

 

2025

 

 

2024

 

 

2023

 

 

(in thousands)

 

Beginning accumulated other comprehensive (income) loss at January 1

$

921

 

 

$

 

 

$

 

  Net (income) losses recognized in other comprehensive income,
    net of tax

 

(1,472

)

 

 

1,622

 

 

 

 

  Net income (losses) reclassified from AOCI to earnings

 

22

 

 

 

(701

)

 

 

 

Ending accumulated other comprehensive (income) loss at December 31,

$

(529

)

 

$

921

 

 

$

 

Schedule of Effect of Hedges on Consolidated Statements of Operations

The effect of hedges on the consolidated statements of operations are as follows:

 

 

Year Ended December 31,

 

 

2025

 

 

2024

 

 

2023

 

 

(in thousands)

 

Income (losses) reclassified from AOCI related to cash flow hedges

 

 

 

 

 

 

 

 

Revenue

$

22

 

 

$

(701

)

 

$

 

 

 

 

 

 

 

 

 

 

Income related to non-designated hedges

 

 

 

 

 

 

 

 

Other (expense) income

$

2,542

 

 

$

 

 

$