v3.26.1
Derivatives (Tables)
6 Months Ended
Jun. 30, 2026
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 June 30, 2026 and December 31, 2025:
 

 

June 30, 2026

 

December 31, 2025

 

 

(in thousands)

 

Prepaid expenses and other current assets

 

 

 

 

Cash flow hedges

$

 

$

240

 

Balance sheet hedges

 

668

 

 

 

Total

$

668

 

$

240

 

 

 

 

 

 

Accrued expenses and other current liabilities

 

 

 

 

Cash flow hedges

$

716

 

$

83

 

Balance sheet hedges

 

30

 

$

298

 

Total

$

746

 

$

381

 

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:
 

 

Six Months Ended June 30,

 

 

2026

 

2025

 

 

(in thousands)

 

Beginning accumulated other comprehensive (income) loss at January 1

$

(529

)

$

921

 

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

 

1,065

 

 

(948

)

  Net income (losses) reclassified from AOCI to earnings

 

187

 

 

(559

)

Ending accumulated other comprehensive (income) loss at June 30

$

723

 

$

(586

)

Schedule of Effect of Hedges on Consolidated Statements of Operations

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

 

 

Three Months Ended June 30,

 

Six Months Ended June 30,

 

 

2026

 

2025

 

2026

 

2025

 

 

(in thousands)

 

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

 

 

 

 

 

 

 

 

Revenue

$

(50

)

$

(189

)

$

187

 

$

(559

)

 

 

 

 

 

 

 

 

 

Gains related to non-designated hedges

 

 

 

 

 

 

 

 

Other (expense) income, net

$

(133

)

$

1,976

 

$

(412

)

$

1,973