Derivative Instruments and Hedging Activities (Tables)

6 Months Ended

Jun. 30, 2026

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of outstanding forward currency contracts

As of June 30, 2026, we had the following outstanding forward contracts to trade U.S. dollars in exchange for Canadian dollars:


Maturity date (Dollar amounts in thousands of U.S. dollars)	Notional amount of U.S. dollars	Weighted average exchange rate of U.S. dollars	Fair value Asset (Liability)

July - September 2026	14,607	1.4021	(129)
October - December 2026	9,372	1.4021	(42)


	23,979	1.4021	(171)

Schedule of fair value of derivative instruments in the Condensed Consolidated Balance Sheets

Fair value of derivative instruments in the Condensed Consolidated Balance Sheets


Derivatives (Dollar amounts in thousands of U.S. dollars)	Balance Sheet Location	As of June 30, 2026 Fair Value Asset (Liability)		As of December 31, 2025 Fair Value Asset (Liability)
Foreign Currency forward contracts designated as cash flow hedges (net)	Derivative instruments	$	(171)	$	(75)
Total foreign currency forward contracts (net)	Derivative instruments	$	(171)	$	(75)

Summary of movement in Accumulated other comprehensive income (AOCI) balance

Movement in Accumulated other comprehensive income (AOCI) balance for the three months ended June 30, 2026 (Dollar amounts in thousands of U.S. dollars)


	Gains and losses on cash flow hedges		Tax impact		Total AOCI
Opening AOCI Balance - March 31, 2026	$	(251)	$	61	$	(190)
Other comprehensive income (loss) before reclassifications	(126)		30		(96)
Amount reclassified from AOCI	206		(50)		156
Other comprehensive income (loss) for the three months ended June 30, 2026	80		(20)		60

Ending AOCI Balance - June 30, 2026	$	(171)	$	41	$	(130)

Movement in AOCI balance for the six months ended June 30, 2026 (Dollar amounts in thousands of U.S. dollars)


	Gains and losses on cash flow hedges		Tax impact		Total AOCI
Opening AOCI balance - December 31, 2025	$	(79)	$	22	$	(57)
Other comprehensive income (loss) before reclassifications	(407)		98		(309)
Amount reclassified from AOCI	315		(79)		236
Other comprehensive income (loss) for the six months ended June 30, 2026	(92)		19		(73)

Ending AOCI Balance - June 30, 2026	$	(171)	$	41	$	(130)

Summary of the effects of derivative instruments on income and AOCI

Effects of derivative instruments on income and AOCI for the three months ended June 30, 2026 and 2025 are as follows (Dollar amounts in thousands of U.S. dollars)


Derivatives in Cash Flow Hedging Relationship	Amount of Gain or (Loss) Recognized in OCI, net of tax, on Derivative		Location of Gain or (Loss) Reclassified from AOCI into Income	Amount of Gain or (Loss) Reclassified from AOCI into Income
			Operating expenses	$	(160)
Foreign currency forward contracts for the three months ended June 30, 2026	$	(96)	Cost of revenues	$	(46)

			Operating expenses	$	(94)
Foreign currency forward contracts for the three months ended June 30, 2025	$	635	Cost of revenues	$	(26)

Effects of derivative instruments on income and AOCI for the six months ended June 30, 2026 and 2025 are as follows (Dollar amounts in thousands of U.S. dollars)


Derivatives in Cash Flow Hedging Relationship	Amount of Gain or (Loss) Recognized in OCI, net of tax, on Derivative		Location of Gain or (Loss) Reclassified from AOCI into Income	Amount of Gain or (Loss) Reclassified from AOCI into Income
			Operating expenses	$	(248)
Foreign currency forward contracts for the six months ended June 30, 2026	$	(309)	Cost of revenues	$	(68)

			Operating expenses	$	(686)
Foreign currency forward contracts for the six months ended June 30, 2025	$	677	Cost of revenues	$	(170)