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Derivative Instruments (Tables)
12 Months Ended
Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Notional Amounts of Outstanding Derivative Positions
Net Notional amount
Fair value
December 31December 31,
2024202320242023
Option contracts to hedge payroll
expenses NIS$24,580 $32,158 $346 $995 
Forward contracts to hedge payroll
expenses NIS
3,495 — 96 — 
$28,075 $32,158 $442 $995 
Schedule of Derivative Liabilities at Fair Value The fair value of the Company's outstanding derivative instruments at December 31, 2024 and 2023 is summarized below:
Fair value of derivative instruments
December 31,
Balance Sheet line item20242023
Derivative assets and liabilities:
Foreign exchange option contractsPrepaid expenses and other current assets$457 $1,159 
Foreign exchange forward contracts
Prepaid expenses and other current assets
96 — 
Foreign exchange option contractsOther account payable$(111)$(164)
Derivative Instruments, Gain (Loss)
The effect of derivative instruments in cash flow hedging relationship on income and other comprehensive income for the year ended December 31, 2024, 2023 and 2022, is summarized below:
Amount of (loss) gain recognized in other comprehensive income on derivative, net of tax (effective portion)
Year ended December 31,
202420232022
Derivatives in foreign exchange cash flow hedging relationships:
Forward contracts$88 $(168)$(643)
Option contracts(260)120 (2,845)
$(172)$(48)$(3,488)
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)
Derivatives in foreign exchange cash flow hedging relationships for the year ended December 31, 2024, 2023 and 2022, is summarized below:
Amount of (losses) gain reclassified from other comprehensive income into (expense) income, net of tax (effective portion)
Year ended December 31,
Statements of income line item202420232022
Option contracts to hedge payroll
Cost of revenues and operating expenses$(312)$930 $2,491 
Forward contracts to hedge payroll
Cost of revenues and operating expenses
(3)370 44 
$(315)$1,300 $2,535