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DERIVATIVE INSTRUMENTS | 6 Months Ended
--- | ---
Jun. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
DERIVATIVE INSTRUMENTS |
NOTE 7: | DERIVATIVE INSTRUMENTS
The Company enters into foreign currency forward and option 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. The fair value of derivative contracts in the consolidated balance sheets at June 30, 2025 and December 31, 2024 were as follows:
|  | Other accounts receivable and prepaid expenses |  |  | Other accounts payable and accrued expenses |
|  | June 30, 2025 |
|  | $ thousands |
Derivatives designated as hedging instruments: |  |  |  |  |  |
Currency forward contracts |  |  | 2,350 |  |  |  | - |
Total derivatives |  |  | 2,350 |  |  |  | - |
|  | Other accounts receivable and prepaid expenses |  |  | Other accounts payable and accrued expenses |
|  | December 31, 2024 |
|  | $ thousands |
Derivatives designated as hedging instruments: |  |  |  |  |  |
Currency forward contracts |  |  | 508 |  |  |  | (76 | )
Total derivatives |  |  | 508 |  |  |  | (76 | )
The notional amounts of outstanding derivative contracts in U.S. dollars at June 30, 2025 and December 31, 2024 were as follows:
|  | June 30, 2025 |  |  | December 31, 2024 |
|  | $ thousands |  |  | $ thousands |
Derivatives designated as hedging instruments |  |  |  |  |  |
Currency forward contracts |  |  | 26,174 |  |  |  | 21,248 |
Total derivatives |  |  | 26,174 |  |  |  | 21,248 |
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. For derivative instruments that are designated and qualify as a cash flow hedge (i.e., hedging the exposure to variability in expected future cash flows that is attributable to a particular risk), the gain or loss on the derivative instrument is reported as a component of other comprehensive income and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. Gains or losses from contracts that were not designated as hedging instruments are recognized in "financial and other expenses, net". The effect of total income (loss) from derivative contracts designated as cash flow hedges in the consolidated statements of operations for the six months ended June 30, 2025, and 2024 was as follows:
|  | Six months ended June 30 |
|  | 2025 |  |  | 2024 |
|  | $ thousands |  |  | $ thousands |
Cost of revenues |  |  | 115 |  |  |  | (32 | )
Research and development, net |  |  | 347 |  |  |  | (62 | )
Sales and marketing |  |  | 109 |  |  |  | (17 | )
General and administrative |  |  | 162 |  |  |  | (28 | )
Total |  |  | 733 |  |  |  | (139 | )

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