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Financial Instruments (Tables)
12 Months Ended
Dec. 31, 2025
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,

 

 

 

Location in Balance Sheet

 

2025

 

 

2024

 

Derivative instruments designated as cash flow hedges:

 

 

 

 

 

 

 

 

Fair value—foreign exchange contract liabilities, net amount

 

Accrued liabilities

 

$

257

 

 

$

1,858

 

 

 

 

 

 

 

 

 

 

Notional value held to buy U.S. dollars in exchange for other currencies

 

 

 

$

8,196

 

 

$

5,074

 

Notional value held to sell U.S. dollars in exchange for other currencies

 

 

 

$

66,476

 

 

$

57,329

 

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,

 

 

 

2025

 

 

2024

 

Gross amount of recognized assets

 

$

1,009

 

 

$

173

 

Gross amount of recognized liabilities

 

 

(1,266

)

 

 

(2,031

)

Net liabilities

 

$

(257

)

 

$

(1,858

)

 

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,

 

 

 

2025

 

 

2024

 

 

2023

 

Beginning balance

 

$

(1,858

)

 

$

1,034

 

 

$

(94

)

Other comprehensive gain (loss) before reclassification

 

 

2,175

 

 

 

(2,107

)

 

 

1,190

 

Amounts reclassified from accumulated other comprehensive loss into net loss

 

 

(574

)

 

 

(785

)

 

 

(62

)

Net current period other comprehensive gain (loss)

 

 

1,601

 

 

 

(2,892

)

 

 

1,128

 

Ending balance

 

$

(257

)

 

$

(1,858

)

 

$

1,034

 

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, 2025, 2024 and 2023 (in thousands):

 

 

Year Ended December 31,

 

 

 

2025

 

 

2024

 

 

2023

 

Research and development

 

$

842

 

 

$

690

 

 

$

841

 

Selling, general and administrative

 

 

67

 

 

 

74

 

 

 

192

 

Total

 

$

909

 

 

$

764

 

 

$

1,033