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Note 10 - Derivatives and Hedging Activities

12 Months Ended

Dec. 31, 2024

Notes to Financial Statements

Derivative Instruments and Hedging Activities Disclosure [Text Block]

NOTE 10: DERIVATIVES AND HEDGING ACTIVITIES

The fair value of the Company’s outstanding derivative instruments is as follows:

		As of December 31,
		2023				2024
Derivative assets:
Derivatives designated as cash flow hedging instruments:
Foreign exchange forward contracts		$	988			$	—
Total		$	988			$	—

The Company recorded the fair value of derivative assets in “prepaid expenses and other current assets” on the Company’s consolidated balance sheets.

The changes in unrealized gains (losses) recognized in “accumulated other comprehensive income (loss)” on derivatives, before tax effect, is as follows:

		Year ended December 31,
		2022				2023				2024
Derivatives designated as cash flow hedging instruments:
Foreign exchange option contracts		$	(361	)		$	(265	)		$	41
Foreign exchange forward contracts			(1,100	)			281				(115	)
		$	(1,461	)		$	16			$	(74	)

The net (gains) losses reclassified from “accumulated other comprehensive income (loss)” into income, are as follows:

		Year ended December 31,
		2022				2023				2024
Derivatives designated as cash flow hedging instruments:
Foreign exchange option contracts		$	338			$	288			$	(41	)
Foreign exchange forward contracts			954				790				(873	)
		$	1,292			$	1,078			$	(914	)

The Company recorded in cost of revenues and operating expenses, a net loss of $1,292, a net loss of $1,078 and a net gain of 914 during the years ended December 31, 2022, 2023 and 2024, respectively, related to its Hedging Contracts.

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- Definition

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480237/815-40-50-5

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-5C

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 815
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/815/tableOfContent

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- References

No definition available.

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