28 unchanged sentences
however, there are indications there may be legal challenges to the decision.
+Added: If the European Commission concludes in the future that the required level of protection is no longer ensured, the European Commission has the power to propose the suspension, amendment or repeal of any adequacy decision.
Additionally, the European Commission published revised standard contractual clauses for data transfers from the European Economic Area in 2021, which were required to go into effect by December 2022.
1 unchanged sentence
has enacted a version of the GDPR the implementation of which occurred by way of the Data Protection Act 2018, collectively referred to as the "U.K.
−Removed: GDPR." Uncertainty remains, however, regarding how aspects of data protection in the U.K.
+Added: GDPR." In June 2025 the U.K.
+Added: enacted the Data (Use and Access) Act 2025 (“DUAA”).
+Added: The DUAA amends the U.K.GDPR and may create additional operational burdens for affected companies.
+Added: Uncertainty remains, however, regarding how aspects of data protection in the U.K.
will be handled in the medium to long term.
7 unchanged sentences
Under the FCPA, U.S.
−Removed: companies may be held liable for the corrupt actions taken by employees, strategic or local
−Removed: partners or other representatives.
+Added: companies may be held liable for the corrupt actions taken by employees, strategic or local partners or other representatives.
On February 10, 2025, the U.S.
government temporarily paused the enforcement of the FCPA.
−Removed: Whether FCPA enforcement will resume in the future and the extent to which it will be enforced remains uncertain.
+Added: On June 9, 2025, the U.S.
+Added: Department of Justice issued new guidelines for the enforcement of the FCPA, focusing on a narrower range of misconduct than prosecutors have previously targeted while prioritizing prosecution of individuals engaging in criminal misconduct.
• environmental, health and safety regulations governing the manufacture, assembly and testing of our products, including without limitation regulations governing the use of hazardous materials.
15 unchanged sentences
In recent years, international market conditions and the international regulatory environment have been increasingly affected by competition among countries and geopolitical frictions.
−Removed: During the first quarter of 2025 and into April 2025, the U.S.
+Added: During the first half of 2025 and into July 2025, the U.S.
introduced trade policy actions that have increased import tariffs across a wide range of countries at various rates, with certain exemptions.
+Added: For example, the U.S.
+Added: government is currently considering increasing import tariffs on various products and components, including semiconductors, and it recently increased tariffs on imports of certain critical raw minerals and derivative products relevant to our business and products.
These tariffs, along with other U.S.
14 unchanged sentences
The adoption and expansion of tariffs or other trade restrictions, increasing trade tensions, or other changes in governmental policies related to taxes, tariffs, trade agreements or policies, are difficult to predict, which makes attendant risks difficult to anticipate and mitigate.
−Removed: If we are unable to navigate further changes in U.S.
+Added: unable to navigate further changes in U.S.
or international trade policy, it could have a material adverse impact on our business and results of operations.
1 unchanged sentence
or foreign jurisdictions related to compliance with trade regulations.
+Added: In May 2025, the U.S.
+Added: Department of Justice announced that trade and customs fraud, including tariff evasion, is a high-impact area and designated it as an enforcement priority area.
Additionally, the imposition of tariffs is dependent upon the classification of items under the Harmonized Tariff System (“HTS”) and the country of origin of the item.
5 unchanged sentences
In addition, tariffs could make our products less attractive relative to products offered by competitors, which may not be subject to similar tariffs.
+Added: In reaction to the increased tariffs, customers may elect to reduce spending, renegotiate contracts, defer orders or delivery of existing orders, or shift purchases to other vendors, each of which would adversely impact our financial results and competitive position with customers.
Increases in tariffs on imported goods or the failure to resolve current international trade disputes could further decrease demand and have a material adverse effect on our business and operating results.
+Added: We have taken steps, and may take additional steps, to attempt to mitigate the impact of tariffs on our business, including by availing ourselves of certain exemptions to tariffs;
+Added: by making changes to our supply chain practices, sources of supply, or manufacturing locations;
+Added: and by passing the cost of tariffs to customers.
+Added: These changes could take considerable time to implement, result in significant costs, and cause supply chain delays or disruption.
Further downgrades of the U.S.
5 unchanged sentences
long-term issuer and senior unsecured ratings to Aa1 from Aaa and changed its outlook to stable from negative in response to the increase in government debt and interest payment ratios to levels that are significantly higher than similarly rated sovereigns.
−Removed: Moreover, on January 21, 2025, the U.S.
−Removed: Treasury began taking extraordinary measures to prevent a default on U.S.
−Removed: government debt, which measures are expected to continue until such time as the U.S.
−Removed: Congress increases the debt ceiling.
−Removed: However, the Congressional Budget Office estimated in March 2025 that if the debt limit remains unchanged, the government’s ability to borrow using extraordinary measures will likely be exhausted in August or September 2025.
+Added: Moreover, on July 4, 2025, President Trump signed H.R.
+Added: 1, Republicans’ “One Big Beautiful Bill,” into law.
+Added: The bill increased the federal government’s debt limit by $5 trillion, making it unlikely that the limit will be reached in the immediate future.
+Added: The effects of the bill and the continued budget deficits enabled thereunder remain uncertain.
The impact of this or any further downgrades to the U.S.
4 unchanged sentences
UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
−Removed: During the three months ended March 31, 2025, we did not repurchase any shares of our common stock.
−Removed: As of March 31, 2025, there is no current authorization to repurchase common stock.
+Added: During the three months ended June 30, 2025, we did not repurchase any shares of our common stock.
+Added: As of June 30, 2025, there is no current authorization to repurchase common stock.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.