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DERIVATIVES (Tables) | 3 Months Ended
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Mar. 31, 2025
DERIVATIVES [ABSTRACT] |
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location [Table Text Block] | The fair value and location of derivatives in the Consolidated Balance Sheets as of March 31, 2025 and December 31, 2024 were as follows (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | March 31, 2025 |
​ | ​ | Designated | Not Designated |
​ | ​ | as Hedging | as Hedging | ​
Designation: | ​ | Instruments | Instruments |
​ |  | Foreign |  | Foreign |
Derivative contract type: | ​ | Exchange | ​ | Exchange |
Derivative classification: | ​ | Cash Flow | ​ | Fair Value | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Prepaids and other current assets | ​ | $ | 698 | ​ | $ | 42 | ​
Other long-term assets | ​ |  | 54 | ​ |  | — | ​
Other current liabilities | ​ |  | (1,166) | ​ |  | (150) | ​
Other long-term liabilities | ​ |  | (485) | ​ |  | — | ​
Total fair value of derivatives, net | ​ | $ | (899) | ​ | $ | (108) | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2024 |
​ | ​ | Designated | Not Designated |
​ | ​ | as Hedging | as Hedging | ​
Designation: | ​ | Instruments | Instruments |
​ |  | Foreign |  | Foreign |
Derivative contract type: | ​ | Exchange | ​ | Exchange |
Derivative classification: | ​ | Cash Flow | ​ | Fair Value | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Prepaids and other current assets | ​ | $ | 783 | ​ | $ | 6 | ​
Other long-term assets | ​ |  | — | ​ |  | — | ​
Other current liabilities | ​ |  | (2,679) | ​ |  | (183) | ​
Other long-term liabilities | ​ |  | (1,471) | ​ |  | — | ​
Total fair value of derivatives, net | ​ | $ | (3,367) | ​ | $ | (177) | ​
Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block] | The Company’s foreign exchange cash flow hedging instruments as of March 31, 2025 and December 31, 2024 are summarized as follows (amounts in thousands). All hedging instruments are forward contracts. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Local |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |
​ | ​ | Currency | ​ | U.S. Dollar | ​ | ​ | % Maturing | ​ | ​ | Contracts |
​ | ​ | Notional | ​ | Notional | ​ | ​ | in the next | ​ | ​ | Maturing |
As of March 31, 2025 | ​ | Amount | ​ | Amount | ​ | ​ | 12 months | ​ | ​ | Through |
Philippine Peso |  | 4,657,000 | ​ |  | 81,212 | (1) | ​ | 71.9 | % | ​ | March 2027 | ​
Mexican Peso |  | 441,500 | ​ |  | 21,525 | ​ | ​ | 71.1 | % | ​ | December 2026 | ​
​ | ​ | ​ | ​ | $ | 102,737 | ​ | ​ | ​ | ​ | ​ | ​ | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Local |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ | ​
​ | ​ | Currency | ​ | U.S. Dollar | ​ | ​ | % Maturing | ​ | ​ | Contracts | ​
​ | ​ | Notional | ​ | Notional |  | ​ | in the next | ​ | ​ | Maturing | ​
As of December 31, 2024 | ​ | Amount | ​ | Amount |  | ​ | 12 months | ​ | ​ | Through | ​
Philippine Peso |  | 6,034,000 | ​ | $ | 105,098 | (1) | ​ | 67.8 | % | ​ | March 2027 | ​
Mexican Peso |  | 548,000 | ​ |  | 26,682 | ​ | ​ | 64.6 | % | ​ | December 2026 | ​
​ | ​ | ​ | ​ | $ | 131,780 | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(1) | Includes contracts to purchase Philippine pesos in exchange for New Zealand dollars and Australian dollars, which are translated into equivalent U.S. dollars on March 31, 2025 and December 31, 2024.
The Company’s volume of foreign exchange fair value derivative contracts as of March 31, 2025 and December 31, 2024 are summarized as follows (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Local |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |
​ | ​ | Currency | ​ | U.S. Dollar | ​ | ​ | ​ | ​ | ​ | ​ |
​ | ​ | Notional | ​ | Notional | ​ | ​ | ​ | ​ | ​ | ​ |
As of March 31, 2025 (2) | ​ | Amount | ​ | Amount | ​ | ​ | ​ | ​ | ​ | ​ |
Australian Dollar |  | 3,950 | ​ | $ | 2,485 | ​ | ​ | ​ | ​ | ​ | ​ | ​
Canadian Dollar |  | 7,220 | ​ | ​ | 5,044 | ​ | ​ | ​ | ​ | ​ | ​ | ​
Euro | ​ | 10,400 | ​ | ​ | 11,236 | ​ | ​ | ​ | ​ | ​ | ​ | ​
British Pound | ​ | 4,000 | ​ | ​ | 5,178 | ​ | ​ | ​ | ​ | ​ | ​ | ​
Mexican Peso |  | 266,000 | ​ | ​ | 13,118 | ​ | ​ | ​ | ​ | ​ | ​ | ​
New Zealand Dollar | ​ | 3,968 | ​ | ​ | 2,278 | ​ | ​ | ​ | ​ | ​ | ​ | ​
Polish Zloty |  | 10,000 | ​ |  | 2,590 | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | $ | 41,929 | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ (2) All fair value hedges are short-term and matured in April 2025.
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Local |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ | ​
​ | ​ | Currency | ​ | U.S. Dollar | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Notional | ​ | Notional |  | ​ | ​ | ​ | ​ | ​ | ​
As of December 31, 2024 (3) | ​ | Amount | ​ | Amount |  | ​ | ​ | ​ | ​ | ​ | ​
Australian Dollar |  | 3,850 | ​ | $ | 2,393 | ​ | ​ | ​ | ​ | ​ | ​ | ​
Canadian Dollar | ​ | 5,850 | ​ | ​ | 4,137 | ​ | ​ | ​ | ​ | ​ | ​ | ​
Euro | ​ | 11,000 | ​ | ​ | 11,456 | ​ | ​ | ​ | ​ | ​ | ​ | ​
British Pound |  | 5,600 | ​ | ​ | 7,066 | ​ | ​ | ​ | ​ | ​ | ​ | ​
Mexican Peso |  | 130,000 | ​ |  | 6,307 | ​ | ​ | ​ | ​ | ​ | ​ | ​
New Zealand Dollar |  | 3,400 | ​ | ​ | 1,914 | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | $ | 33,273 | ​ | ​ | ​ | ​ | ​ | ​ | ​
Schedule of cash flow hedge impact on Statement of Comprehensive Income | The amounts and location of gains and losses on Cash Flow Hedges within the Consolidated Statements of Comprehensive Income (Loss) for the three months ended March 31, 2025 and 2024 were as follows (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended March 31, | ​ | ​
​ | ​ | 2025 |  | 2024 |  | ​
Foreign Exchange Cash Flow Hedges, effective: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Amount of gain (loss) recognized in Other comprehensive income (loss) (1) | ​ | $ | 2,340 | ​ | $ | 966 | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Amount and location of gain (loss) reclassified from Accumulated OCI to: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Revenue | ​ | $ | (173) | ​ | $ | 1,624 | ​ | ​
Provision for income taxes | ​ | ​ | 45 | ​ | ​ | (423) | ​ | ​
Net income (loss) | ​ | $ | (128) | ​ | $ | 1,201 | ​ | ​
(1) As a result of the valuation allowance recorded in Q2 2024 against the Company’s U.S. Deferred Tax Assets, there is no tax impact recognized in Other comprehensive income (loss) for unrealized foreign exchange cash flow hedge gains or losses in 2025.
Schedule of fair value derivative impact on Statement of Comprehensive Income | The amounts and location of before tax gains and losses on Fair Value Hedges within the Consolidated Statements of Comprehensive Income (Loss) for the three months ended March 31, 2025 and 2024, respectively, were as follows (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended March 31, |
​ | ​ | 2025 | ​ | 2024 |
Foreign Exchange Fair Value Derivatives, not designated as Hedging Instruments: |  | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Other income (expense), net |  | $ | 48 |  | $ | 226 | ​

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