v3.26.1
Derivatives and Hedging Activity (Tables)
3 Months Ended
Mar. 31, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Summary of Non-designated Derivatives The following tables summarize the Company’s non-designated derivatives as of March 31, 2026 and December 31, 2025, respectively (notional amounts in thousands):

 

 

 

March 31, 2026

Type of Derivative

 

Number of Contracts

 

 

Aggregate Notional Amount

 

 

Notional
Currency

 

Maturity Dates

FX Contracts - Sell GBP

 

 

5

 

 

 

31,825

 

 

GBP

 

June 2026 - June 2027

   Total FX derivatives

 

 

5

 

 

 

 

 

 

 

 

 

 

 

December 31, 2025

Type of Derivative

 

Number of Contracts

 

 

Aggregate Notional Amount

 

 

Notional
Currency

 

Maturity Dates

FX Contracts - Sell GBP

 

 

4

 

 

 

31,150

 

 

GBP

 

March 2026 - June 2027

   Total FX derivatives

 

 

4

 

 

 

 

 

 

 

 

 

Schedule of Fair Value of Derivative Financial Instruments Classification on the Consolidated Balance Sheets

The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the Condensed Consolidated Balance Sheets as of March 31, 2026 and December 31, 2025 (dollars in thousands):

 

 

 

Fair Value of Derivatives in an Asset Position as of

 

 

Fair Value of Derivatives in a Liability Position as of

 

 

 

March 31, 2026

 

 

December 31, 2025

 

 

March 31, 2026

 

 

December 31, 2025

 

Foreign exchange contracts

 

$

38

 

 

$

 

 

$

1,828

 

 

$

2,645

 

 

 

$

38

 

 

$

 

 

$

1,828

 

 

$

2,645

 

Schedule of Effect of Derivative Financial Instruments on the Consolidated Statements of Operations

The table below presents the effect of the Company’s derivative financial instruments on the Condensed Consolidated Statements of Operations for the three months ended March 31, 2026 and 2025, respectively (dollars in thousands):

 

 

 

 

For the Three Months Ended March 31,

 

Type of Derivative

 

Income Statement Location

 

2026

 

 

2025

 

 Foreign Currency Forward Contracts

 

 Unrealized gain (loss) on derivative instruments, net

 

$

855

 

 

$

(982

)

 

 

 

 

$

855

 

 

$

(982

)