v3.26.1
DERIVATIVES (Tables)
6 Months Ended
Jun. 30, 2026
DERIVATIVES [ABSTRACT]  
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location [Table Text Block]

The fair value and location of derivatives in the Consolidated Balance Sheets as of June 30, 2026 and December 31, 2025 were as follows (in thousands):

June 30, 2026

 

Designated

Not Designated

 

as Hedging

as Hedging

Designation:

Instruments

Instruments

 

  ​ ​ ​

Foreign

  ​ ​ ​

Foreign

 

Derivative contract type:

Exchange

Exchange

 

Derivative classification:

Cash Flow

Fair Value

Prepaids and other current assets

$

1,241

$

4

Other long-term assets

 

 

Other current liabilities

 

(1,751)

 

(54)

Other long-term liabilities

 

 

Total fair value of derivatives, net

$

(510)

$

(50)

December 31, 2025

 

Designated

Not Designated

 

as Hedging

as Hedging

Designation:

Instruments

Instruments

 

  ​ ​ ​

Foreign

  ​ ​ ​

Foreign

 

Derivative contract type:

Exchange

Exchange

 

Derivative classification:

Cash Flow

Fair Value

Prepaids and other current assets

$

1,632

$

54

Other long-term assets

 

 

Other current liabilities

 

(1,260)

 

Other long-term liabilities

 

(31)

 

Total fair value of derivatives, net

$

341

$

54

Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block]

The Company’s foreign exchange cash flow hedging instruments as of June 30, 2026 and December 31, 2025 are summarized as follows (amounts in thousands). All hedging instruments are forward contracts.

  ​ ​ ​

Local

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

 

Currency

U.S. Dollar

% Maturing

Contracts

 

Notional

Notional

in the next

Maturing

 

As of June 30, 2026

Amount

Amount

12 months

Through

 

Philippine Peso

 

2,546,000

$

43,123

(1)

100.0

%  

March 2027

Mexican Peso

 

221,000

 

11,412

100.0

%  

February 2027

Colombian Peso

 

2,000,000

 

477

100.0

%  

August 2026

$

55,012

  ​ ​ ​

Local

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

Currency

U.S. Dollar

% Maturing

Contracts

Notional

Notional

in the next

Maturing

As of December 31, 2025

Amount

Amount

12 months

Through

Philippine Peso

 

4,025,000

$

69,458

(1)

97.0

%  

March 2027

Mexican Peso

 

314,000

15,618

100.0

%  

December 2026

Colombian Peso

 

8,000,000

 

1,931

100.0

%  

August 2026

$

87,007

(1)Includes contracts to purchase Philippine pesos in exchange for New Zealand dollars and Australian dollars, which are translated into equivalent U.S. dollars on June 30, 2026 and December 31, 2025.

The Company’s volume of foreign exchange fair value derivative contracts as of June 30, 2026 and December 31, 2025 are summarized as follows (in thousands):

  ​ ​ ​

Local

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

 

Currency

U.S. Dollar

 

Notional

Notional

 

As of June 30, 2026 (2)

Amount

Amount

 

Australian Dollar

 

2,700

$

1,862

Euro

 

11,850

13,550

Canadian Dollar

5,850

4,123

British Pound

2,900

3,837

Mexican Peso

 

167,000

9,570

Polish Zloty

2,000

533

$

33,475

(2) All undesignated derivatives are short-term and matured in July 2026.

  ​ ​ ​

Local

  ​ ​ ​

  ​ ​ ​

Currency

U.S. Dollar

Notional

Notional

 

As of December 31, 2025 (3)

Amount

Amount

 

Australian Dollar

 

3,300

$

2,210

Euro

5,350

6,298

British Pound

5,950

8,021

Mexican Peso

 

70,000

3,891

New Zealand Dollar

 

1,100

 

639

Polish Zloty

 

11,000

3,072

$

24,131

Schedule of cash flow hedge impact on Statement of Comprehensive Income

The amounts and location of gains and losses on Cash Flow Hedges within the Consolidated Statements of Comprehensive Income (Loss) for the six months ended June 30, 2026 and 2025 were as follows (in thousands):

Three Months Ended 

Six Months Ended 

June 30,

June 30,

2026

  ​ ​ ​

2025

  ​ ​ ​

2026

  ​ ​ ​

2025

Foreign Exchange Cash Flow Hedges, effective:

Amount of gain (loss) recognized in Other comprehensive income (loss) (1)

$

323

$

3,240

$

(1,352)

$

5,580

Amount and location of gain (loss) reclassified from Accumulated OCI to:

Revenue

$

(785)

$

659

$

(676)

$

485

Provision for income taxes

204

(171)

176

(126)

Net income (loss)

$

(581)

$

488

$

(500)

$

359

(1) As a result of the valuation allowance recorded in Q2 2024 against the Company’s U.S. Deferred Tax Assets, there is no tax impact recognized in Other comprehensive income (loss) for unrealized foreign exchange cash flow hedge gains or losses.

Schedule of fair value derivative impact on Statement of Comprehensive Income

The amounts and location of before tax gains and losses on Undesignated Derivatives within the Consolidated Statements of Comprehensive Income (Loss) for the six months ended June 30, 2026 and 2025, respectively, were as follows (in thousands):

Three Months Ended June 30,

 

2026

2025

 

Designation:

  ​ ​ ​

Not Designated as Hedging Instruments

Derivative contract type:

 

Foreign Exchange

Derivative classification:

 

Fair Value

Amount and location of net gain or (loss) recognized in the Consolidated Statement of Comprehensive Income (Loss):

Other income (expense), net

 

$

62

 

$

233

Six Months Ended June 30,

2026

2025

Designation:

 

Not Designated as Hedging Instruments

Derivative contract type:

 

Foreign Exchange

Derivative classification:

 

Fair Value

Amount and location of net gain or (loss) recognized in the Consolidated Statement of Comprehensive Income (Loss):

Other income (expense), net

 

$

(103)

 

$

281