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Derivative Financial Instruments and Hedging (Tables)
6 Months Ended
Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Disclosure of Notional Amount of Derivatives by Hedging Designation

The notional amounts of outstanding foreign currency contracts in U.S. dollar as of the periods presented were as follows:

 

 

June 30, 2023

 

 

December 31, 2022

 

 

 

(in thousands)

 

Derivatives Designated as Hedging Instruments:

 

 

 

 

 

 

Foreign currency contracts

 

$

54,903

 

 

$

42,854

 

Derivatives Not Designated as Hedging Instruments:

 

 

 

 

 

 

Foreign currency contracts

 

 

21,963

 

 

 

17,555

 

Total derivative instruments

 

$

76,866

 

 

$

60,409

 

 

Derivative Instruments, Gain (Loss)

The losses on foreign currency contracts were presented on the Condensed Consolidated Statements of Operations during the periods presented as follows:

 

 

Derivatives Designated as Hedging Instruments

 

 

Derivatives Not Designated as Hedging Instruments

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

Condensed Statement of Operations Location:

 

(in thousands)

 

Cost of revenue: subscription–self-managed and SaaS

 

$

(94

)

 

$

(121

)

 

$

(181

)

 

$

(127

)

 

$

 

 

$

 

 

$

 

 

$

 

Research and development

 

 

(805

)

 

 

(854

)

 

 

(1,493

)

 

 

(909

)

 

 

 

 

 

 

 

 

 

 

 

 

Sales and marketing

 

 

(188

)

 

 

(191

)

 

 

(340

)

 

 

(202

)

 

 

 

 

 

 

 

 

 

 

 

 

General and administrative

 

 

(215

)

 

 

(235

)

 

 

(396

)

 

 

(250

)

 

 

 

 

 

 

 

 

 

 

 

 

Interest and other income, net

 

 

 

 

 

 

 

 

 

 

 

8

 

 

 

(414

)

 

 

(422

)

 

 

(819

)

 

 

(400

)

Total losses recognized in earnings

 

$

(1,302

)

 

$

(1,401

)

 

$

(2,410

)

 

$

(1,480

)

 

$

(414

)

 

$

(422

)

 

$

(819

)

 

$

(400

)