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Derivative Instruments
 12 Months Ended
Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Instruments
Note 10 - Derivative Instruments
 
The Company enters into foreign currency forward contracts with financial institutions to protect against the exposure to changes in exchange rates of several foreign currencies that are associated with forecasted cash flows and existing assets and liabilities. The Company accounts for its derivative instruments as either assets or liabilities and carries them at fair value. The accounting for changes in the fair value of a derivative depends on the intended use of the derivative and the resulting designation.
 
Foreign currency derivative contracts are classified within Level 2 as the valuation inputs are based on quoted prices and market observable data of similar instruments.
 
The fair value of derivative contracts in the consolidated balance sheets on December 31, 2024, and December 31, 2023 were as follows:
 
   
Other accounts
receivable and
prepaid expenses
    
Other accounts
payable and accrued
expenses
  
   
December 31, 2024
  
   
$ thousands
    
$ thousands
  
             
Derivatives designated as hedging instruments:
            
   Currency forward contracts
    
508
      
(76
)
                 
Total derivatives
    
508
      
(76
)
 
   
Other accounts
receivable and
prepaid expenses
    
Other accounts
payable and accrued
expenses
  
   
December 31, 2023
  
   
$ thousands
    
$ thousands
  
             
Derivatives designated as hedging instruments:
            
   Currency forward contracts
    
920
      
-
  
                 
Total derivatives
    
920
      
-
  
 
The notional amounts for derivatives contracts were as follows:
 
   
December 31,
    
December 31,
  
   
2024
    
2023
  
   
$ thousands
    
$ thousands
  
             
Derivatives designated as hedging instruments:
            
   Currency forward contracts
    
21,248
      
19,482
  
 
The maximum length of time over which the Company is hedging its exposure to the variability in future cash flows for forecasted transactions is up to 12 months.
 
The effect of total income (loss) from derivative contracts designated as cash flow hedges in the consolidated statements of operations for the years ended December 31, 2024, 2023 and 2022 was as follows:
 
   
Year ended December 31,
  
   
2024
    
2023
    
2022
  
   
$ thousands
    
$ thousands
    
$ thousands
  
                         
Cost of revenues
    
(123
)
    
(901
)
    
(515
)
Research and development, net
    
(215
)
    
(1,544
)
    
(939
)
Sales and marketing
    
(76
)
    
(443
)
    
(215
)
General and administrative
    
(106
)
    
(721
)
    
(386
)
Financial and other expenses, net
    
-
      
(498
)
    
(170
)