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Financial Instruments (Tables) | 12 Months Ended
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Dec. 31, 2024
Investments, Debt and Equity Securities [Abstract] |
Schedule of Notional and Fair Values of All Derivative Instruments | The notio nal and fair values of all derivative instruments were as follows (in thousands):
|  |  |  | December 31, |
|  | Location in Balance Sheet |  | 2024 |  |  | 2023 |
Derivative instruments designated as cash flow hedges: |  |  |  |  |  |  |  |
Fair value—foreign exchange contract assets, net amount |  | Prepaid expenses and other current assets |  | $ | — |  |  | $ | 1,184 |
Fair value—foreign exchange contract liabilities, net amount |  | Accrued liabilities |  | $ | 1,858 |  |  | $ | — |
Notional value held to buy U.S. dollars in exchange for other currencies |  |  |  | $ | 5,074 |  |  | $ | 738 |
Notional value held to sell U.S. dollars in exchange for other currencies |  |  |  | $ | 57,329 |  |  | $ | 45,468 |
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, |
|  | 2024 |  |  | 2023 |
Gross amount of recognized assets |  | $ | 173 |  |  | $ | 1,300 |
Gross amount of recognized liabilities |  |  | (2,031 | ) |  |  | (116 | )
Net (liabilities) assets |  | $ | (1,858 | ) |  | $ | 1,184 |
Schedule of Accumulated Other Comprehensive Loss (AOCL) | The changes in AOCL related to the cash flow hedges consisted of the following (in thousands):
|  | Year Ended December 31, |
|  | 2024 |  |  | 2023 |  |  | 2022 |
Beginning balance |  | $ | 1,034 |  |  | $ | (94 | ) |  | $ | — |
Other comprehensive (loss) gain before reclassification |  |  | (2,107 | ) |  |  | 1,190 |  |  |  | (94 | )
Amounts reclassified from accumulated other comprehensive loss into net loss |  |  | (785 | ) |  |  | (62 | ) |  |  | — |
Net current period other comprehensive (loss) gain |  |  | (2,892 | ) |  |  | 1,128 |  |  |  | (94 | )
Ending balance |  | $ | (1,858 | ) |  | $ | 1,034 |  |  | $ | (94 | )
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 consolidated statement of operations for the years ended December 31, 2024 and 2023 (in thousands):
|  | Year Ended December 31, |
|  | 2024 |  |  | 2023 |
Research and development |  | $ | 690 |  |  | $ | 841 |
Selling, general and administrative |  |  | 74 |  |  |  | 192 |
Total |  | $ | 764 |  |  | $ | 1,033 |

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