v3.25.4
Derivative Instruments and Hedging (Tables)
 12 Months Ended
Dec. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Notional Amounts of the Company's Derivative Instruments
The following table summarizes the notional amounts of the Company’s derivative instruments (in thousands):
December 31, 2025December 31, 2024
Foreign currency forward contracts designated as hedging instruments$170,944 $180,754 
Foreign currency forward contracts not designated as hedging instruments205,780 95,191 
Total derivative instruments$376,724 $275,945 
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value
The following table summarizes the fair value of the Company’s derivative instruments on the consolidated balance sheets (in thousands):
Balance Sheet LocationDecember 31, 2025December 31, 2024
Derivative Assets:
Foreign currency forward contracts designated as hedging instrumentsPrepaid expenses and other current assets$3,194 $205 
Foreign currency forward contracts not designated as hedging instrumentsPrepaid expenses and other current assets2,939 716 
Foreign currency forward contracts designated as hedging instrumentsOther assets, non-current65 141 
Total derivative assets$6,198 $1,062 
Derivative Liabilities:
Foreign currency forward contracts designated as hedging instrumentsAccrued expenses and other liabilities$1,294 $3,829 
Foreign currency forward contracts not designated as hedging instrumentsAccrued expenses and other liabilities1,235 1,368 
Foreign currency forward contracts designated as hedging instrumentsOther liabilities, non-current51 717 
Total derivative liabilities$2,580 $5,914 
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)
The following table presents the activity of foreign currency forward contracts designated as hedging instruments and the impact of these derivatives on AOCI (in thousands):
Year Ended December 31,
202520242023
Beginning balance$(4,200)$2,280 $653 
Net gain (loss) recognized in other comprehensive income (loss), net of tax8,412 (4,995)3,035 
Net gain reclassified from AOCI to earnings(2,310)(1,485)(1,408)
Ending balance$1,902 $(4,200)$2,280 
Schedule of Foreign Currency Forward Contracts on the Condensed Consolidated Statements of Operations
The following table summarizes the effect of foreign currency forward contracts on the consolidated statements of operations (in thousands):
Derivatives Designated as Hedging InstrumentsDerivatives Not Designated as Hedging Instruments
Year Ended December 31,Year Ended December 31,
2025202420252024
Cost of revenue - subscription$217 $213 $— $— 
Cost of revenue - services221 118 — — 
Research and development146 219 — — 
Sales and marketing1,433 690 — — 
General and administrative133 245 — — 
Other income (expense), net— — 4,337 (1,964)
Total gain (loss) recognized in earnings$2,150 $1,485 $4,337 $(1,964)