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Derivative Financial Instruments and Hedging (Tables)
3 Months Ended
Mar. 31, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Disclosure of Notional Amount of Derivatives by Hedging Designation

The notional amounts of outstanding foreign currency contracts in U.S. dollar as of the periods presented were as follows:

 

 

March 31, 2026

 

 

December 31, 2025

 

 

 

(in thousands)

 

Derivatives Designated as Hedging Instruments:

 

 

 

 

 

 

Foreign currency contracts

 

$

58,295

 

 

$

95,063

 

Derivatives Not Designated as Hedging Instruments:

 

 

 

 

 

 

Foreign currency contracts

 

 

18,525

 

 

 

19,041

 

Total derivative instruments

 

$

76,820

 

 

$

114,104

 

 

Derivative Instruments, Gain (Loss)

The gains (losses) on foreign currency contracts were presented on the Condensed Consolidated Statements of Operations as follows:

 

 

Derivatives Designated
as Hedging Instruments

 

 

Derivatives Not Designated
as Hedging Instruments

 

 

 

Three Months Ended March 31,

 

 

Three Months Ended March 31,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Condensed Statement of Operations Location:

 

(in thousands)

 

Cost of revenue: subscription–self-managed and SaaS

 

$

294

 

 

$

24

 

 

$

 

 

$

 

Research and development

 

 

2,132

 

 

 

171

 

 

 

 

 

 

 

Sales and marketing

 

 

525

 

 

 

40

 

 

 

 

 

 

 

General and administrative

 

 

413

 

 

 

48

 

 

 

 

 

 

 

Interest and other income, net

 

 

 

 

 

 

 

 

253

 

 

 

(256

)

Total gains (losses) recognized in earnings

 

$

3,364

 

 

$

283

 

 

$

253

 

 

$

(256

)