Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2024

Investments, Debt and Equity Securities [Abstract]

Schedule of Notional and Fair Values of All Derivative Instruments

The notional and fair values of all derivative financial instruments were as follows (in thousands):

	Location in Balance Sheet	June 30, 2024		December 31, 2023
Derivative instruments designated as cash flow hedges:
Fair value—foreign exchange contract assets, net amount	Prepaid expenses and other current assets	$	—	$	1,184
Fair value—foreign exchange contract liabilities, net amount	Accrued liabilities	$	152	$	—
Notional value held to buy U.S. dollars in exchange for other currencies		$	1,001	$	738
Notional value held to sell U.S. dollars in exchange for other currencies		$	53,146	$	45,468

The

Schedule of Gross Amounts of Foreign Currency Forward Contracts

The gross amounts of the Company’s foreign currency forward contracts and the net amounts recorded in the Company’s Condensed Consolidated Balance Sheets were as follows (in thousands):

	June 30, 2024			December 31, 2023
Gross amount of recognized assets	$	268		$	1,300
Gross amount of recognized liabilities		(420	)		(116	)
Net derivative (liabilities) assets	$	(152	)	$	1,184

Schedule of Accumulated Other Comprehensive Loss (AOCL)

The changes in AOCL related to the cash flow hedges consisted of the following (in thousands):

	Three Months Ended June 30,						Six Months Ended June 30,
	2024			2023			2024			2023
Beginning balance	$	243		$	769		$	1,034		$	(94	)
Other comprehensive (loss) gain before reclassification		(280	)		322			(702	)		1,181
Amounts reclassified from accumulated other comprehensive loss into net loss		(115	)		(332	)		(484	)		(328	)
Net current period other comprehensive (loss) gain		(395	)		(10	)		(1,186	)		853
Ending balance	$	(152	)	$	759		$	(152	)	$	759

Summary of the Total Gains Recognized upon Settlement of the Hedged Transactions

The following table summarizes the total gains recognized upon settlement of the hedged transactions in the Condensed Consolidated Statement of Operations for three and six months ended June 30, 2024 and 2023 (in thousands):

	Three Months Ended June 30,					Six Months Ended June 30,
	2024			2023		2024		2023
Research and development	$	135		$	403	$	484	$	414
Selling, general and administrative		(24	)		59		83		63
Total	$	111		$	462	$	567	$	477