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Forward Contracts (Tables)

6 Months Ended

Jun. 30, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Settled and Outstanding Forward Contracts

The following table presents the Company's settled forward contracts and realized and unrealized losses (gains) associated with derivative contracts:

						Three months ended June 30,												Six months ended June 30,
(in thousands)						2024						2023						2024						2023
Notional amount of settled forward contracts in Philippine pesos						$	41,690					$	68,825					$	87,654					$	128,250
Notional amount of settled forward contracts in Indian rupees						10,488						7,098						22,893						7,098
Total notional amount of settled forward contracts						$	52,178					$	75,923					$	110,547					$	135,348
Realized losses (gains) from settlement of forward contracts						$	2,076					$	(1,793)					$	2,769					$	(175)
Unrealized losses (gains) on forward contracts						$	1,966					$	4,661					$	3,463					$	(1,675)

The following table presents the Company's outstanding forward contracts:

(in thousands)			June 30, 2024						December 31, 2023
Notional amount of outstanding forward contracts in Philippine pesos			$	81,376					$	169,029
Notional amount of outstanding forward contracts in Indian rupees			22,300						45,193
Total notional amount of outstanding forward contracts			$	103,676					$	214,222

Schedule of Fair Value of Assets Measured on a Recurring Basis

The following table presents information about the Company’s assets and liabilities that are measured at fair value on a recurring basis, and indicates the fair value hierarchy of the valuation techniques utilized to determine such fair value, at June 30, 2024 and December 31, 2023:

			June 30, 2024
			Fair value measurements using																		Total Gross Fair Value						Effect of Counter-party Netting						Net Amounts on Balance Sheet						Effect of Master Netting Arrangements						Net Amounts
(in thousands)			Level 1 inputs						Level 2 inputs						Level 3 inputs
Assets
Money market funds			$	14,957					$	—					$	—					$	14,957					$	—					$	14,957					$	—					$	14,957
Forward contracts receivable			$	—					$	173					$	—					$	173					$	—					$	173					$	—					$	173
Liabilities
Forward contracts payable			$	—					$	4,325					$	—					$	4,325					$	—					$	4,325					$	—					$	4,325

			December 31, 2023
			Fair value measurements using																		Total Gross Fair Value						Effect of Counter-party Netting						Net Amounts on Balance Sheet						Effect of Master Netting Arrangements						Net Amounts
(in thousands)			Level 1 inputs						Level 2 inputs						Level 3 inputs
Assets
Forward contracts receivable			$	—					$	95					$	—					$	95					$	—					$	95					$	(95)					$	—
Liabilities
Forward contracts payable			$	—					$	784					$	—					$	784					$	—					$	784					$	(95)					$	689

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- References

No definition available.

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- Definition

Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

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- Definition

Tabular disclosure of the notional amounts of outstanding derivative positions.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1A
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-1A

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