Quantitative and Qualitative Disclosures About Market Risk
−Removed: We are exposed to market risks in connection with our business, which primarily relate to fluctuations in foreign exchange rates, interest rates and inflation risk and credit risk.
+Added: We are exposed to market risks in connection with our business, which primarily relate to fluctuations in foreign exchange rates, interest rates and credit risk.
Foreign exchange and translation risk
20 unchanged sentences
Interest rates in South Africa remained unchanged for the majority of the 2024 calendar year;
−Removed: however, the South African Reserve Bank announced a 25-basis point reduction in the South African repurchase rate in each of September 2024, November 2024, and January 2025, with further reductions expected thereafter.
+Added: however, the South African Reserve Bank announced a 25-basis point reduction in the South African repurchase rate in each of September 2024, November 2024, January 2025 and July 2025, with further reductions expected thereafter.
Interest rates in Israel have remained stable at 6.0% which were last changed by the Bank of Israel in January 2024.
−Removed: dollar denominated loans are based on the Standard Overnight Financing Rate (“SOFR”) for which the 90 day average rate as of June 30, 2025 was 4.34%, compared to 5.35% as of June 30, 2024, representing a decline of 1.01% in the rate period over period.
+Added: dollar denominated loans are based on the Standard Overnight Financing Rate (“SOFR”) for which the 90-day average rate as of September 30, 2025 was 4.35%, compared to 5.31% as of September 30, 2024, representing a decline of 0.96% in the rate period over period.
Therefore, ignoring the impact of changes to the margin on our borrowings and value of borrowings outstanding, we expect our cost of borrowing to decline moderately in the foreseeable future;
2 unchanged sentences
We generally maintain surplus cash in cash equivalents.
+Added: The table below illustrates the effect on our estimated annual interest expense as a result of changes in the respective interest rates utilizing our outstanding borrowings as of September 30, 2025.
The effect of a hypothetical 1% change (100 basis points) applicable to the relevant borrowings is shown below.
The selected 1% hypothetical change does not reflect what could be considered the best- or worst-case scenarios and is disclosed for illustrative purposes only as the actual variations may be more or less and are based on factors outside of our control.
−Removed: The following table illustrates the effect on our estimated annual interest expense as a result of changes in the respective interest rates utilizing our outstanding borrowings as of June 30, 2025.
Annual estimated interest charge
14 unchanged sentences
We are exposed to credit risk in the event customers fail to meet their contractual payment obligations.
−Removed: We perform credit evaluations of new customers and monitors the financial health of existing customers on an ongoing basis.
+Added: We perform credit evaluations of new customers and monitor the financial health of existing customers on an ongoing basis.
While most customers are billed monthly, we do not typically require collateral.
Credit risk is mitigated through diversified customer exposure and proactive collection efforts.
−Removed: As of June 30, 2025, trade receivables totaled $81.5 million, net of an allowance for credit losses of $8.4 million.
+Added: As of September 30, 2025, trade receivables totaled $85.0 million, net of an allowance for credit losses of $9.5 million.
Refer to Note 6 of the unaudited condensed consolidated financial statements for further information relating to the determination of the net allowance for credit losses.
2 unchanged sentences
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.