v3.26.1
Financial Instruments (Tables)
 6 Months Ended
Jun. 30, 2026
Investments, Debt and Equity Securities [Abstract]  
Schedule of Notional and Fair Values of All Derivative Instruments

The notional and fair values of all derivative financial instruments were as follows (in thousands):

 

Location in Balance Sheet

 

June 30, 2026

 

 

December 31, 2025

 

Derivative instruments designated as cash flow hedges:

 

 

 

 

 

 

 

Fair value—foreign exchange contract liabilities, net amount

Accrued liabilities

 

$

2,284

 

 

$

257

 

 

 

 

 

 

 

 

 

Notional value held to buy U.S. dollars in exchange for other currencies

 

 

$

1,811

 

 

$

8,196

 

Notional value held to sell U.S. dollars in exchange for other currencies

 

 

$

64,148

 

 

$

66,476

 
Schedule of Gross Amounts of Foreign Currency Forward Contracts

The gross amounts of the Company’s foreign currency forward contracts and the net amounts recorded in the Company’s condensed consolidated balance sheets were as follows (in thousands):

 

June 30, 2026

 

 

December 31, 2025

 

Gross amount of recognized assets

$

101

 

 

$

1,009

 

Gross amount of recognized liabilities

 

(2,385

)

 

 

(1,266

)

Net derivative liabilities

$

(2,284

)

 

$

(257

)
Schedule of Accumulated Other Comprehensive Loss (AOCL)

The changes in AOCL related to the cash flow hedges consisted of the following (in thousands):

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Beginning balance

 

$

(2,085

)

 

$

300

 

 

$

(257

)

 

$

(1,858

)

Other comprehensive (loss) income before reclassification

 

 

(689

)

 

 

2,677

 

 

 

(2,525

)

 

 

4,254

 

Amounts reclassified from accumulated other comprehensive loss (income) into net loss

 

 

490

 

 

 

(382

)

 

 

498

 

 

 

199

 

Net current period other comprehensive (loss) income

 

 

(199

)

 

 

2,295

 

 

 

(2,027

)

 

 

4,453

 

Ending balance

 

$

(2,284

)

 

$

2,595

 

 

$

(2,284

)

 

$

2,595

 
Summary of the Gains (Losses) Recognized upon Settlement of Hedged Transactions

The following table summarizes the gains (losses) recognized upon settlement of the hedged transactions in the condensed consolidated statements of operations for three and six months ended June 30, 2026 and 2025 (in thousands):

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Research and development

 

$

(376

)

 

$

379

 

 

$

(335

)

 

$

120

 

Selling, general and administrative

 

 

(114

)

 

 

76

 

 

 

(163

)

 

 

(30

)

Total

 

$

(490

)

 

$

455

 

 

$

(498

)

 

$

90