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Derivative Instruments and Hedging (Tables) | 12 Months Ended
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Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Derivative Instruments | Our foreign currency contracts are denominated in NIS and Euro. The gross notional amounts of outstanding foreign currency contracts in U.S. dollar were as follows:
| As of December 31,
| 2023 |  | 2022
| (in thousands)
Derivatives Designated as Hedging Instruments: |  |  |
Foreign currency contracts | $ | 63,716 |  |  | $ | 63,998 |
Derivatives Not Designated as Hedging Instruments: |  |  |
Foreign currency contracts | 10,314 |  |  | 13,814 |
Total derivative instruments | $ | 74,030 |  |  | $ | 77,812 |
Derivative Instruments, Gain (Loss) | The effect of foreign currency contracts on the Consolidated Statements of Operations during the periods presented were as follows:
| Derivatives Designated as Hedging Instruments |  | Derivatives Not Designated as Hedging Instruments
| Year Ended December 31, |  | Year Ended December 31,
| 2023 |  | 2022 |  | 2021 |  | 2023 |  | 2022 |  | 2021
| (in thousands)
Statement of Operations Location: |  |  |  |  |  |  |  |  |  |  |
Revenue | $ | 168 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Cost of revenue | (146) |  |  | (175) |  |  | — |  |  | — |  |  | — |  |  | — |
Research and development | (2,659) |  |  | (1,718) |  |  | — |  |  | — |  |  | — |  |  | — |
Sales and marketing | (1,051) |  |  | (732) |  |  | — |  |  | — |  |  | — |  |  | — |
General and administrative | (1,263) |  |  | (706) |  |  | — |  |  | — |  |  | — |  |  | — |
Other income (expense), net | — |  |  | — |  |  | — |  |  | (534) |  |  | (1,659) |  |  | 59 |
Total gain (loss) recognized in earnings | $ | (4,951) |  |  | $ | (3,331) |  |  | $ | — |  |  | $ | (534) |  |  | $ | (1,659) |  |  | $ | 59 |
Schedule of Accumulated Other Comprehensive Income (Loss) | The following table represents the net unrealized gains (losses) of foreign currency contracts designated as hedging instruments, net of tax, that were recorded in accumulated other comprehensive profit (loss) during the periods presented, and their effect on other comprehensive profit (loss) for the periods presented:
| Net Unrealized Gains (Losses) on Derivatives Designated as Hedging Instruments
| (in thousands)
Balance as of December 31, 2020 | $ | — |
Amount of net gains (losses) recorded in accumulated other comprehensive profit (loss) | 176 |
Amount of net gains (losses) reclassified from accumulated other comprehensive profit (loss) to earnings | — |
Other comprehensive profit (loss) | 176 |
Balance as of December 31, 2021 | 176 |
Amount of net gains (losses) recorded in accumulated other comprehensive profit (loss) | 1,448 |
Amount of net gains (losses) reclassified from accumulated other comprehensive profit (loss) to earnings | (3,331) |
Other comprehensive profit (loss) | (1,883) |
Balance as of December 31, 2022 | $ | (1,707) |
Amount of net gains (losses) recorded in accumulated other comprehensive profit (loss) | 6,585 |
Amount of net gains (losses) reclassified from accumulated other comprehensive profit (loss) to earnings | (4,951) |
Other comprehensive profit (loss) | 1,634 |
Balance as of December 31, 2023 | $ | (73) |

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