The Company enters into a limited number of foreign currency forward exchange contracts to mitigate the effects of adverse fluctuations in foreign currency exchange rates on transactions entered into in the normal course of business that are denominated in foreign currencies that differ from the local functional currency. These contracts generally have short durations and are recorded at fair value with both realized and unrealized gains and losses recorded in other income, net in the Consolidated Statements of Operations because the Company does not designate these contracts as hedges for accounting purposes.

During the six months ended June 30, 2024, the Company entered into five foreign currency forward exchange contracts, all of which settled by June 30, 2024. Accordingly, as of June 30, 2024, there is no amount recorded in the Consolidated Balance Sheets for these contracts. During the six months ended June 30, 2023, the Company entered into six foreign currency forward exchange contracts, all of which settled by June 30, 2023. Accordingly, as of June 30, 2023, there is no amount recorded in the Consolidated Balance Sheets for these contracts.

The Company’s derivative counterparties are investment grade financial institutions. The Company does not have any collateral arrangements with these counterparties and the derivative contracts do not contain credit risk-related contingent features. The table below provides information regarding amounts recognized in the Consolidated Statements of Operations for the derivative contracts for the periods indicated (in thousands):


	Three Months Ended				Six Months Ended
	June 30,				June 30,
Amount recorded in:	2024		2023		2024			2023
Other income, net	$	1	$	4	$	(14	)	$	66