v3.26.1
Derivative Financial Instruments and Hedging
 6 Months Ended
Jun. 30, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Financial Instruments and Hedging
6. Derivative Financial Instruments and Hedging
 
The Company previously entered into forward contracts that were designated as hedging instruments to manage exposure to foreign currency exchange risk associated with forecasted transactions. All forward contracts expired during the year ended December 31, 2025. Accordingly, the Company had no derivative instruments outstanding as of June 30, 2026 or December 31, 2025.

Effect of Forward Contracts on Accumulated Other Comprehensive Income
 
The following table represents the unrealized (losses) gains of forward contracts that were designated as hedging instruments, net of tax effects, that were recorded in accumulated other comprehensive income as of June 30, 2026 and 2025, and their effect on other comprehensive income for the three and six months ended June 30, 2026 and 2025: 
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
(in thousands)
Beginning balance$— $(2,239)$— $(8,263)
Amount of net gains (losses) recorded in accumulated other comprehensive income— (295)— (850)
Amount of net gains (losses) reclassified from accumulated other comprehensive income to earnings— 1,214 — 7,793 
Ending balance$— $(1,320)$— $(1,320)