DERIVATIVES (Tables)

3 Months Ended

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