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Fair Value Measurement
 12 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
Fair Value Measurement Fair Value Measurement
Fair value is the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value is estimated by applying the following hierarchy, which prioritizes the inputs used to measure fair value into three levels, and bases the categorization within the hierarchy upon the lowest level of input that is available and significant to the fair value measurement:
Level 1 - Unadjusted quoted prices in active markets for identical assets and liabilities.
Level 2 - Observable inputs other than those included in Level 1. For example, quoted prices for similar assets or liabilities in active markets or quoted prices for identical assets or liabilities in inactive markets.
Level 3 - Significant unobservable inputs reflecting management’s own assumptions about the inputs used in pricing the asset or liability.
Our financial instruments consist of cash, accounts receivable, accounts payable, accrued liabilities, pension assets and liabilities. The carrying value of these instruments approximates fair value as a result of the short duration of such instruments or due to the variability of the interest cost associated with such instruments.
Recurring Measurements
Foreign Currency Forward Exchange Contracts. Our derivative assets and liabilities represent foreign exchange contracts that are measured at fair value using observable market inputs such as forward rates, interest rates, our own credit risk and counterparty credit risk. Based on the utilization of these inputs, the derivative assets and liabilities are classified as Level 2. To manage our risk for transactions denominated in Mexican Pesos, Czech Crown and Ukrainian Hryvnia, we have entered into forward exchange contracts that are designated as cash flow hedge instruments, which are recorded in the Consolidated Balance Sheets at fair value. The gains and losses as a result of the changes in fair value of the hedge contract for transactions denominated in Mexican Pesos are deferred in accumulated other comprehensive loss and recognized in cost of revenues in the period the related hedge transactions are settled. As of December 31, 2025, hedge contracts for transactions denominated Czech Crown were not designated as a hedging instruments; therefore, they are marked-to-market and the fair value of agreements is recorded in the Consolidated Balance Sheets with the offsetting gains and losses recognized in other (income) expense and recognized in cost of revenues in the period the related hedge transactions are settled in the Consolidated Statements of Operations.
Interest Rate Swaps. To manage our exposure to variable interest rates, we have historically entered into interest rate swaps to exchange, at a specified interval, the difference between fixed and variable interest amounts calculated by reference to an agreed upon notional principal amount. The interest rate swaps were intended to mitigate the impact of rising interest rates on the Company and covered 50% of outstanding debt under the Prior Term Loan Facility due 2027. Any changes in fair value were included in earnings or deferred through Accumulated other comprehensive loss, depending on the nature and effectiveness of the offset. Any ineffectiveness in a cash flow hedging relationship was recognized immediately in earnings in the consolidated statements of operations.
At March 31, 2025, the Company settled the interest rate swaps and received cash proceeds of $0.6 million. The gain on the swap settlement was recorded in Other comprehensive income (loss) and is being recognized over the life of the hedged transactions. As of December 31, 2025, there was no interest rate swap outstanding.
Stock Warrants Issued in Connection with Long-Term Debt — In connection with entering into the Term Loan due 2030, the Company issued to affiliates of TCW Management five-year warrants for the purchase of up to an aggregate of 3,934,776 shares of the Company’s common stock, issued in two equal tranches. The tranches have an exercise price of $1.52 and $2.07 per share, respectively. Until the fourth anniversary after issuance, the Company has the right to repurchase up to 50% of each tranche of warrants at a price equal to $1.40 or $1.00 per share, respectively, above the applicable exercise price. Upon a refinancing of the Term Loan, the holders of the warrants can require the Company to repurchase up to 50% of each tranche at a price equal to the stock price of the common stock at the time of repurchase less the exercise price. The warrants contain anti-dilution adjustments that may result in a change in the number of shares of common stock issuable upon exercise. The Company also has provided TCW Management with certain information and registration rights, including filing a registration statement within 45 days to register the resale of the shares underlying the warrants, pursuant to an Investor Rights Agreement.
As of December 31, 2025 the warrants were valued at 2.5 million using the Binomial Lattice Model and were recorded in Other long-term liabilities on the Consolidated Balance Sheets with the offsetting gains and losses recognized in other (income) expense in the Consolidated Statements of Operations. Net gain for the Twelve Months Ended December 31, 2025 was $0.1 million.
The fair values of our financial instruments measured on a recurring basis are categorized as follows:
December 31, 2025December 31, 2024
TotalLevel 1Level 2Level 3TotalLevel 1Level 2Level 3
Assets:
Foreign exchange contract designated as hedging instruments
$1,755 $— $1,755 $— $— $— $— $— 
Foreign exchange contract not designated as hedging instruments$106 $— $106 $— $— $— $— $— 
Interest rate swap agreement settled in 2025$— $— $— $— $1,069 $— $1,069 $— 
Liabilities:
Foreign exchange contract designated as hedging instruments
$110 $— $110 $— $5,698 $— $5,698 $— 
Foreign exchange contract not designated as hedging instruments
$— $— $— $— $53 $— $53 $— 
Warrants$2,518 $— $2,518 $— $— $— $— $— 

The following table summarizes the notional amount of our open foreign exchange contracts at December 31:
20252024
U.S. $
Equivalent		U.S. $
Equivalent
Fair Value		U.S. $
Equivalent		U.S. $
Equivalent
Fair Value
Commitments to buy or sell currencies - Foreign exchange contract designated as hedging instruments
$52,183 $52,956 $54,359 $55,251 
Commitments to buy or sell currencies - Foreign exchange contract not designated as hedging instruments
$10,994 $10,860 $4,697 $5,023 
We consider the impact of our credit risk on the fair value of the contracts, as well as the ability to execute obligations under the contract.
The following table summarizes the fair value and presentation of derivatives in the Consolidated Balance Sheets at December 31: 
 Derivative Asset
Balance Sheet
Location		Fair Value
20252024
Foreign exchange contract designated as hedging instruments
Other current assets$1,755 $— 
Foreign exchange contract not designated as hedging instrumentsOther current assets$106 $— 
Interest rate swap agreementOther current assets$— $1,069 
 Derivative Liability
Balance Sheet
Location		Fair Value
20252024
Foreign exchange contract designated as hedging instruments
Accrued liabilities and other$110 $5,648 
Foreign exchange contract designated as hedging instruments
Other long-term liabilities$— $50 
Foreign exchange contract not designated as hedging instrumentsAccrued liabilities and other$— $53 
WarrantsOther long term liabilities$2,518 $— 
 Derivative Equity
Balance Sheet
Location		Fair Value
20252024
Foreign exchange contract designated as hedging instrumentsAccumulated other comprehensive loss$3,369 $(2,119)
Interest rate swap agreementsAccumulated other comprehensive loss$833 $897 
The following table summarizes the effect of derivative instruments on the Consolidated Statements of Operations:
20252024
Location of Gain (Loss)
Recognized on Derivatives		Amount of Gain (Loss)
Recognized in Income on
Derivatives
Foreign exchange contract designated as hedging instruments
Cost of revenues$(36)$(2,454)
Settled interest rate swap agreementsInterest expense$1,564 $2,253 
Foreign exchange contract not designated as hedging instruments
Other (income) expense$154 $281 

We consider the impact of our credit risk on the fair value of the contracts, as well as our ability to honor obligations under the contract.
Other Fair Value Measurements
The fair value of long-term debt obligations is based on a fair value model utilizing observable inputs. Based on these inputs, our long-term debt fair value as disclosed was classified as Level 2 as of December 31, 2024. As of December 31, 2025, the classification was changed to a Level 3 due to the lack of observable market inputs or comparable instruments. With the
refinancing of our long-term debt on June 27, 2025, the carrying values of our long-term debt obligations approximate fair values.
The carrying amounts and fair values of our long-term debt obligations are as follows:
December 31, 2025December 31, 2024
Carrying
Amount		Fair ValueCarrying
Amount		Fair Value
Term Loan due 2030 1
$88,106 $88,106 $— $— 
Prior Term Loan due 2027— — 85,000 84,363 
Revolving credit facility$16,839 $16,839 $50,500 $50,500 
1    Presented in the Consolidated Balance Sheets as the current portion of long-term debt of $0.9 million and long-term debt of $87.2 million as of December 31, 2025, and current portion of long-term debt of $8.4 million and long-term debt of $76.6 million as of December 31, 2024.