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Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2023

Investments, Debt and Equity Securities [Abstract]

Schedule of Notional and Fair Values of All Derivative Instruments

The notional and fair values of all derivative instruments were as follows (in thousands):

		December 31,
		2023				2022
Derivative instruments in cash flow hedges (foreign exchange contracts):
Assets
Other current assets		$	1,184			$	—
Liabilities
Accrued liabilities			—				94
Total fair value		$	1,184			$	94
Notional value held to buy U.S. dollars in exchange for other currencies		$	738			$	—
Notional value held to sell U.S. dollars in exchange for other currencies		$	45,468			$	52,197
Undesignated derivative instruments (foreign exchange contracts):
Liabilities
Accrued liabilities		$	—			$	41
Total fair value		$	—			$	41
Notional value held to sell U.S. dollars in exchange for other currencies		$	—			$	7,402

Schedule of Gross Amounts of Foreign Currency Forward Contracts

The gross amounts of the Company’s foreign currency forward contracts and the net amounts recorded in the Company’s Consolidated Balance Sheets were as follows (in thousands):

		December 31,
		2023				2022
Gross amount of recognized assets		$	1,300			$	—
Gross amount of recognized liabilities			(116	)			(135	)
Net assets (liabilities)		$	1,184			$	(135	)

Summary of the Gains Recognized upon Settlement of the Hedged Transactions

The following table summarizes the gains recognized upon settlement of the hedged transactions in the Condensed Consolidated Statement of Operations for the years ended December 31, 2023 and 2022 (in thousands):

		Year Ended December 31,
		2023				2022
Research and development		$	841			$	—
Selling, general and administrative			192				—
Total		$	1,033			$	—

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Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4E
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480434/815-10-50-4E

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-Name Accounting Standards Codification
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-Paragraph 4A
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Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

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-Name Accounting Standards Codification
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-Section 50
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Tabular disclosure of the presentation of foreign exchange contracts on the statement of financial position, including the fair value amounts and location of such amounts.

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-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
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