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DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES | 12 Months Ended
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Dec. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES | DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES The Company records all cash flow hedging instruments on the consolidated balance sheets at fair value. The fair values of outstanding derivative instruments designated as cash flow hedging instruments were as follows:
| December 31,
| 2025 |  | 2024
Prepaid expenses and other current assets | $ | 534 |  |  | $ | 468 |
Accrued expenses and other current liabilities | $ | — |  |  | $ | (50) |
As of December 31, 2025 and 2024, the notional amounts of the Company’s derivative instruments designated as cash flow hedging instruments outstanding in U.S. dollars amounted to $18,817 and $49,502, respectively. Effect of Foreign Currency Contracts on the Consolidated Statements of loss The effect of foreign currency contracts designated as cash flow hedge on the consolidated statements of income (loss), for the years ended December 31, 2025, 2024 and 2023, were as follows:
|  | Year ended
December 31,
|  | 2025 |  | 2024 |  | 2023
Cost of revenues |  | $ | 334 |  |  | $ | 18 |  |  | $ | (155) |
Research and development |  | 3,037 |  |  | 199 |  |  | (1,619) |
Sales and marketing |  | 792 |  |  | 50 |  |  | (305) |
General and administrative |  | 560 |  |  | 40 |  |  | (296) |
Total gains (losses) recognized in the consolidated statements of loss, net |  | $ | 4,723 |  |  | $ | 307 |  |  | $ | (2,375) |
Effect of Foreign Currency Contracts on Accumulated Other Comprehensive Income (Loss) Net unrealized gains (losses) of foreign currency contracts designated as cash flow hedging instruments are recorded in accumulated other comprehensive income (loss). The changes in unrealized gains (losses) on the Company’s derivative instruments recorded in accumulated other comprehensive income (loss) were as follows:
| Year ended
| December 31,
| 2025 |  | 2024 |  | 2023
Unrealized losses on derivative instruments, beginning of period | $ | 418 |  |  | $ | 948 |  |  | $ | (313) |
Changes in fair value of derivative instruments | 4,839 |  |  | (223) |  |  | (1,114) |
Reclassification of gains (losses) recognized in the consolidated statements of income (loss) from accumulated other comprehensive income (loss) | (4,723) |  |  | (307) |  |  | 2,375 |
Unrealized gains (losses) on derivative instruments, end of period | $ | 534 |  |  | $ | 418 |  |  | $ | 948 |
All net deferred gains (losses) in accumulated other comprehensive income (loss) as of December 31, 2025, are expected to be recognized over the next twelve months as operating expenses in the same financial statement line item in the consolidated statements of income (loss) to which the derivative relates.

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