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Financial Instruments and Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2025

Fair Value Disclosures [Abstract]

Schedule of Notional Amounts and Fair Values of Derivative Instruments in the Consolidated Balance

The notional amounts and fair values of derivative instruments in the condensed consolidated balance sheets were as follows:

						Notional amounts (A)																		Accrued expenses and other current liabilities
						March 31, 2025						December 31, 2024																		March 31, 2025						December 31, 2024
Derivatives designated as hedging instruments:
Cash flow hedges:
Forward currency contracts						$	23,257					$	32,339																	$	729					$	2,429

_____________________________

(A)Notional amounts represent the gross contract of the derivatives outstanding in U.S. dollars.

Schedule of Amounts Recorded for the Cash Flow Hedges in Other Comprehensive Income (Loss) in Shareholders' Equity and in Net Income (Loss)

Gross amounts recorded for the cash flow hedges in other comprehensive income (loss) and in net loss for the three months ended March 31 were as follows:

			Gain recorded in other comprehensive income (loss)												(Loss) gain reclassified from other comprehensive income (loss) into net loss (A)
			2025						2024						2025						2024
Derivatives designated as cash flow hedges:
Forward currency contracts			$	1,103					$	743					$	(597)					$	654

_____________________________

(A) (Losses) gains reclassified from other comprehensive income (loss) into net loss recognized in selling, general and administrative expenses (“SG&A”) in the Company’s condensed consolidated statements of operations were $0 and $117 for the three months ended March 31, 2025 and 2024, respectively. (Losses) gains reclassified from other comprehensive income (loss) into net loss recognized in cost of goods sold (“COGS”) in the Company’s condensed consolidated statements of operations were $(597) and $537 for the three months ended March 31, 2025 and 2024, respectively.

Schedule of Assets and Liabilities that are Measured at Fair Value on a Recurring Basis

The following table presents our assets and liabilities that are measured at fair value on a recurring basis and are categorized using the three levels of the fair value hierarchy based on the reliability of inputs used.

									March 31, 2025																		December 31, 2024
									Fair values estimated using
			Fair value						Level 1 inputs						Level 2 inputs						Level 3 inputs						Fair value
Financial liabilities carried at fair value:
Forward currency contracts			$	729					$	—					$	729					$	—					$	2,429
Total financial liabilities carried at fair value			$	729					$	—					$	729					$	—					$	2,429

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- References

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- Definition

Tabular disclosure of gain (loss) on derivative and nonderivative instruments designated and qualifying as cash flow hedge recorded in accumulated other comprehensive income (AOCI) and reclassified into earnings.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C

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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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-Publisher FASB
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Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

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