Kaleyra, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Derivative Financial Instrument

Derivative Financial Instrument

3 Months Ended

Mar. 31, 2020

Derivative Instruments And Hedging Activities Disclosure [Abstract]

4. DERIVATIVE FINANCIAL INSTRUMENTS

The gross notional amount of interest rate swap derivative contracts not designated as hedging instruments, outstanding as of March 31, 2020 and December 31, 2019, was €5.8 million ($6.3 million) and €6.3 million ($7.0 million), respectively.

The amount and location of the gains (losses) in the condensed consolidated statements of operations related to derivative contracts is as follows (in thousands):

		Three Months Ended March 31,
Derivatives Not Designed As Hedging Instruments	Line Items	2020		2019
Interest Rate Swap	Financial income (expense), net	$	7	$	(5	)
Foreign Exchange Forward	Financial income (expense), net		—		211
Total		$	7	$	206

The following table presents the fair value and the location of derivative contracts reported in the condensed consolidated balance sheets (in thousands):

		As of March 31,			As of December 31,
Derivatives Not Designed As Hedging Instruments (1)	Line Items	2020			2019
Interest Rate Swap	Other long-term liabilities	$	(73	)	$	(80	)
Total		$	(73	)	$	(80	)

(1)

For the classification of inputs used to evaluate the fair value of our derivatives, refer to “Note 3”.