11 unchanged sentences
Shortages in, or increased costs of, wafers and materials could increase the manufacturing times for our products and adversely impact our ability to meet customer demand, reduce our gross margins and lead to reduced revenues.
+Added: Global economic and political conditions, including possible trade tariffs and trade restrictions, may have an impact on our business and financial condition in ways that we currently cannot predict.
+Added: Our primary inventory warehouse is located in Hong Kong and may be affected by political, social and economic conditions in Hong Kong.
+Added: We face political and other risks conducting business in Taiwan, particularly due to its relationship with China.
We outsource our wafer fabrication, assembly and testing operations to third parties, and if these parties fail to produce and deliver our products according to requested demands in specification, quantity, cost and time, our reputation, customer relationships and operating results could suffer.
6 unchanged sentences
In addition, we are subject to governmental export and import controls that could subject us to liability or impair our ability to compete in international markets, including China.
−Removed: Global economic and political conditions, including possible trade tariffs and trade restrictions, may have an impact on our business and financial condition in ways that we currently cannot predict.
−Removed: Our primary inventory warehouse is located in Hong Kong and may be affected by political, social and economic conditions in Hong Kong.
−Removed: We face political and other risks conducting business in Taiwan, particularly due to its relationship with China.
Achieving design wins is subject to lengthy competitive selection processes that require us to incur significant costs.
37 unchanged sentences
In addition, we and our suppliers, third-party distributors and customers have been, and are expected to continue to be, disrupted by quarantines and restrictions on certain employees’ ability to perform their jobs, office closures or restrictions, disruptions to shipping infrastructure, or other travel or health-related restrictions.
−Removed: In the first quarter of fiscal year 2023, we have experienced, and we expect to continue to experience, a significant disruption of orders by customers, as well as logistics throughout the Asia supply chain, as a result of the COVID-19 pandemic and measures taken to control spread of the virus.
+Added: In the first half of fiscal year 2023, we have experienced, and we expect to continue to experience, a significant disruption of orders by customers, as well as logistics throughout the Asia supply chain, as a result of the COVID-19 pandemic and measures taken to control spread of the virus.
Depending on the continuing magnitude of such effects on the operations of our suppliers, third-party distributors and our supply chain, our product shipments could be delayed, which could materially adversely affect our business, results of operations and financial condition.
1 unchanged sentence
In addition, decreased consumer demand from the impact of pandemic lockdowns in China has contributed to decreased revenue in consumer-related markets, including home IP security, automotive aftermarket and consumer markets.
−Removed: The semiconductor industry in general is currently experiencing significant shortages of capacity, due in part to COVID-19, which has resulted in a lengthening of the manufacturing lead time for our products and could be impacting the normal forecasting and ordering patterns of our customers.
−Removed: Moreover, if there is a significant COVID-19 outbreak that impacts Samsung Electronic Corporation’s ability to manufacture our SoCs or our third-party contractors’ ability to assemble, test and ship our products, we could experience delays or reductions in our ability to ship products to our customers.
There can be no assurance that any decrease in sales resulting from the COVID-19 pandemic will be offset by increased sales in subsequent periods.
+Added: Moreover, if there is a significant COVID-19 outbreak that impacts Samsung Electronic Corporation’s ability to manufacture our SoCs or our third-party contractors’ ability to assemble, test and ship our products, we could experience delays or reductions in our ability to ship products to our customers.
These effects, alone or taken together, could have a material adverse effect on our business, results of operations, legal exposure, or financial condition.
1 unchanged sentence
Due to the constantly evolving global conditions, we are not able at this time to estimate the long-term effect of these factors on our business, but the adverse impact on our business, results of operations, financial condition and cash flows could be material.
+Added: Impacts of the global semiconductor supply shortage and high inflation could adversely affect our business, financial condition, and results of operations.
+Added: During the COVID-19 global pandemic, which is still ongoing, various restrictions were put in place causing a temporary decline in demand for certain items.
+Added: As restrictions began easing across the world, an increase in demand for products containing semiconductor chips exacerbated bottlenecks in the supply chain, resulting in a global semiconductor supply shortage impacting our industry, which has resulted in a lengthening of the manufacturing lead time for our products and impacting the normal forecasting and ordering patterns of our customers.
+Added: While we are continuing to work closely with our suppliers and customers to minimize the potential adverse impacts of the supply shortage and longer lead times, we have experienced increased volatility in our business.
+Added: Recently, some customers have indicated they are reducing their inventory levels as lead times for semiconductor chips and other components begin to shrink, which may reduce such customers’ demand for our products in future periods.
+Added: The global supply shortages and uncertainty in customer demand and the worldwide economy in general may be exacerbated by the impacts of high inflation, and we may experience increased volatility in sales and revenues as a result.
+Added: However, the magnitude of such volatility on our business and its duration is uncertain and cannot be reasonably estimated at this time.
If our customers do not design our solutions into their product offerings, or if our customers’ product offerings are not commercially successful, our business would suffer.
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Our ability to accurately forecast demand can be adversely affected by a number of factors, including inaccurate forecasting by our customers, miscalculations by our customers of their inventory requirements, changes in market conditions including reductions in market activity due to the COVID-19 pandemic, adverse changes in our product order mix and fluctuating demand for our customers’ products.
+Added: Recently, some customers have indicated they are reducing their inventory levels, which may reduce such customers’ demand for our products.
Even after an order is received, our customers may cancel these orders, request a decrease in production quantities or request a delay in the delivery of our solutions.
9 unchanged sentences
In fiscal year 2022, the customers representing 10% or more of our revenue were WT Microelectronics Co., Ltd., formerly Wintech Microelectronics Co., Ltd., or WT, our distributor, and Chicony Electronics Co., Ltd., or Chicony, a direct ODM customer, which accounted for approximately 62% and 13% of total revenue, respectively.
−Removed: For the three months ended April 30, 2022, the customers representing 10% or more of revenue were WT, Chicony, and Hakuto Co., Ltd., or Hakuto, a Japan distributor, which accounted for approximately 57%, 11%, and 10% of total revenue, respectively.
+Added: For the six months ended July 31, 2022, the customers representing 10% or more of revenue were WT and Chicony, which accounted for approximately 58% and 12% of total revenue, respectively.
We believe that our operating results for the foreseeable future will continue to depend on sales to a relatively small number of customers and end customers.
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Some of our customers may require our products and our third-party contractors to undergo a qualification process that does not assure product sales.
−Removed: If we are unsuccessful or delayed in qualifying these products or third-party contractors with a customer, our business and operating results c ould suffer.
+Added: If we are unsuccessful or delayed in qualifying these products or third-party contractors with a customer, our business and operating results could suffer.
Prior to purchasing our products, some of our customers, particularly in the automotive market, may require that our products and our third-party contractors undergo extensive qualification processes, which involve testing of our products in the customers’ systems, as well as testing for reliability.
36 unchanged sentences
Our security systems are designed to maintain the physical security of our facilities and information systems and protect our customers’, suppliers’ and employees’ confidential information.
−Removed: Accidental or willful security breaches or other unauthorized access by third parties to our facilities or our information systems or the existence of computer viruses in our data or software could expose us to a risk of information loss and misappropriation of proprietary and confidential information.
−Removed: The costs to us to eliminate or alleviate cyber or other security problems, bugs, viruses, malicious software programs and security vulnerabilities could be significant, and our efforts to address these problems may not be successful and could result in interruptions and delays that may impede our sales, product distribution, financial reporting or other critical functions.
+Added: Accidental or willful security breaches or incidents or other unauthorized access by third parties to our facilities or our information systems or the existence of computer viruses in our data or software could expose us to a risk of loss, misappropriation and other unauthorized processing of proprietary and confidential information.
+Added: The costs to us to eliminate or alleviate cyber or other security problems, bugs, viruses, ransomware and other malicious software programs and security vulnerabilities could be significant, and our efforts to address these problems may not be successful and could result in interruptions and delays that may impede our sales, product distribution, financial reporting or other critical functions.
In addition, we could incur significant costs in notifying affected persons and entities and otherwise complying with the multitude of foreign, federal, state and local laws and regulations relating to the unauthorized access to, or use or disclosure of, personal information.
−Removed: Security breaches, computer malware and computer hacking attacks have become more prevalent and sophisticated.
+Added: Security breaches and incidents, computer malware and computer hacking attacks have become more prevalent and sophisticated.
These threats are constantly evolving, making it increasingly difficult to successfully defend against or implement adequate preventive measures.
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Our investigation of the breach, which was supported by a third-party security expert, has not identified any adverse impact to our business or operations, but there can be no guarantee we will not experience such an impact.
−Removed: Data security breaches may also result from non-technical means, for example, actions by an employee.
−Removed: Any theft or misuse of this information could result in, among other things, damage to our reputation, allegations by our customers that we have not performed our contractual obligations, litigation by affected parties and possible financial obligations for liabilities and damages related to the theft or misuse of this information, any of which could have a material adverse effect on our business, financial condition, our reputation, and our relationships with our customers and partners.
+Added: Data security breaches and incidents may also result from non-technical means, for example, actions by an employee.
+Added: Any data security breach or incident or theft, misuse, loss or other unauthorized processing of this information, or the perception that any of these matters has occurred, could result in, among other things, damage to our reputation, allegations by our customers that we have not performed our contractual obligations, regulatory investigations and other proceedings, litigation by affected parties and possible financial obligations for liabilities and damages, any of which could have a material adverse effect on our business, financial condition, our reputation, and our relationships with our customers and partners.
We may also encounter errors in corruption or loss of data, an inability to accurately process or record transactions, and security or technical reliability issues.
All of these could harm our ability to conduct core operating functions such as processing purchase orders and invoices, product distribution, recording and reporting financial and management information on a timely and accurate basis, and could impact our internal control compliance efforts.
+Added: Due to political uncertainty and military actions associated with the ongoing hostility between Russia and Ukraine, we and our vendors, contractors, and other third parties we work with are vulnerable to a heightened risk of cybersecurity attacks, phishing attacks, viruses, malware, ransomware, hacking or similar breaches and incidents from nation-state and affiliated actors, including attacks that could materially disrupt our supply chain and our systems and operations.
We also rely on a number of third-party “cloud-based” service providers of corporate infrastructure services relating to, among other things, human resources, electronic communication services and some finance functions, and we are, of necessity, dependent on the security systems of these providers.
−Removed: Any security breaches or other unauthorized access by third parties to the systems of our cloud-based service providers or the existence of computer viruses in their data or software could expose us to a risk of information loss and misappropriation of confidential information.
+Added: Any security breaches or incidents or other unauthorized access by third parties to the systems of our cloud-based service providers or the existence of computer viruses , ransomware or malicious code in their data or software could expose us to a risk of loss , misappropriation , unavailability and other unauthorized processing of information.
+Added: Additionally, we cannot be certain that our insurance coverage will be adequate or otherwise protect us with respect to claims, expenses, fines, penalties, business loss, data loss, litigation, regulatory actions, or other impacts arising from security breaches or incidents, or that such coverage will continue to be available on acceptable terms or at all.
+Added: Any of these results could adversely affect our business, financial condition, and operating results.
While we intend to continue to invest in research and development, we may be unable to make the substantial investments that are required to remain competitive in our business.
1 unchanged sentence
Our research and development expense was $167.3 million, $140.8 million and $129.7 million in fiscal years 2022, 2021 and 2020, respectively.
−Removed: For the three months ended April 30, 2022, our research and development expense was $46.7 million.
+Added: For the six months ended July 31, 2022, our research and development expense was $99.0 million.
We expect to increase our research and development expenditures as compared to prior periods as part of our strategy of focusing on the development of innovative computer vision, video and image processing solutions with increased functionality, and as we target new markets, such as the automotive OEM and robotics markets.
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Deterioration of the financial condition of our distributors or customers could adversely impact our collection of accounts receivable.
−Removed: For the three months ended April 30, 2022, the customers representing 10% or more of revenue were WT, Chicony, and Hakuto, which accounted for approximately 57%, 11%, and 10% of total revenue, respectively.
−Removed: As of April 30, 2022, accounts receivable with WT, Chicony, and Hakuto were approximately $3.1 million, $10.5 million, and $0.6 million respectively.
+Added: For the six months ended July 31, 2022, the customers representing 10% or more of revenue were WT and Chicony, which accounted for approximately 58% and 12% of total revenue, respectively.
+Added: As of July 31, 2022, accounts receivable with WT and Chicony were approximately $16.2 million and $10.5 million, respectively.
We regularly review the collectability and creditworthiness of our distributors and customers to determine an appropriate allowance for credit losses.
10 unchanged sentences
The semiconductor industry is currently experiencing significant shortages of capacity, which has resulted in a lengthening of the manufacturing lead time for our products.
−Removed: This capacity shortage has negatively impacted our ability to meet our customers’ demand, and if this capacity shortage continues for an extensive period of time, it could further negatively impact our ability to meet our customers’ demand for our products and have an adverse impact on our revenue, results of operations and customer relationships.
+Added: This capacity shortage could negatively impact our ability to meet our customers’ demand for our products and have an adverse impact on our revenue, results of operations and customer relationships.
In addition, it is possible during this time of supply chain capacity shortage that customers may place orders for our products that exceed their actual demand, which may lead to us manufacturing a surplus of products, which could have a negative impact on our results or operations and cash reserves.
+Added: Further, some customers have indicated their intent to reduce their inventory levels as capacity shortages improve, which may decrease such customers’ demand for our solutions in future periods.
The complexity of our solutions could result in unforeseen delays or expenses from undetected defects, errors or bugs in hardware or software which could reduce the market adoption of our new solutions, damage our reputation with current or prospective customers and adversely affect our operating costs.
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Our revenue and operating results have fluctuated significantly from period to period in the past and are likely to do so in the future.
−Removed: In particular, our business has tended to be seasonal with higher revenue in our third quarter as our customers typically increase their production to meet holiday shopping season or year-end demand for their products.
−Removed: We also may experience seasonally lower demand in our first quarter as a result of industry seasonality and the impact of ODM and OEM factory closures associated with the Chinese New Year holiday.
+Added: In particular, our business has in the past tended to be seasonal with higher revenue in our third quarter as our customers typically increase their production to meet holiday shopping season or year-end demand for their products.
As a result, you should not rely on period-to-period comparisons of our operating results as an indication of our future performance.
−Removed: In future periods, our revenue and results of operations may be below the expectations of analysts and investors, which could cause the market price of our ordinary shares to decline.
+Added: It is also possible that our normal seasonal patterns will be impacted by ongoing effects of the COVID-19 pandemic, recent supply chain disruptions and semiconductor capacity shortages, and higher inflation.
+Added: In future periods, our forecasted or actual revenue and results of operations may be below the expectations of analysts and investors, which could cause the market price of our ordinary shares to decline.
Factors that may affect our operating results include:
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For example, the semiconductor industry is currently experiencing significant shortages of capacity, which has resulted in a lengthening of the manufacturing lead time for our products and could be impacting the normal forecasting and ordering patterns of our customers.
+Added: Recently, some customers have indicated their intent to reduce their inventory levels as capacity shortages improve, which may decrease such customers’ demand for our solutions in future periods.
We expect these cyclical conditions to continue.
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Sales to customers in Asia accounted for approximately 88%, 88% and 90% of our total revenue in fiscal years 2022, 2021 and 2020, respectively.
−Removed: For the three months ended April 30, 2022, sales to customers in Asia accounted for approximately 83% of our total revenue.
+Added: For the six months ended July 31, 2022, sales to customers in Asia accounted for approximately 83% of our total revenue.
Because most of our end customers or their ODM manufacturers are located in Asia, we anticipate that a majority of our future revenue will continue to come from sales to that region.
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If additional financing is not available when required or is not available on acceptable terms, we may have to scale back our operations or limit our production activities, and we may not be able to expand our business, develop or enhance our products, take advantage of business opportunities or respond to competitive pressures which could result in lower revenue and reduce the competitiveness of our products.
+Added: Our marketable securities portfolio could experience a decline in market value, which could materially and adversely affect our financial results.
+Added: As of July 31, 2022, we had approximately $100.0 million in debt security investments.
+Added: These investments consisted primarily of money market funds and debt securities of corporations.
+Added: We currently do not use derivative financial instruments to adjust our investment portfolio risk or income profile.
+Added: These investments, as well as any cash deposited in bank accounts, are subject to general credit, liquidity, market and interest rate risks, which may be exacerbated by unusual events, such as the COVID-19 pandemic, the Eurozone crisis and the U.S.
+Added: debt ceiling crisis, which affected various sectors of the financial markets and led to global credit and liquidity issues.
+Added: If the global credit market continues to experience volatility or deteriorates, our investment portfolio may be impacted and some or all of our investments may experience credit-related loss which could adversely impact our financial results and position.
+Added: To the extent that we increase the amount of our security investments in the future, these risks would be exacerbated.
Risks Related to Our Dependence on Third Parties
42 unchanged sentences
We sell a significant percentage of our solutions through a single distributor, WT, which serves as our non-exclusive sales representative in Asia, other than Japan.
−Removed: Approximately 62%, 63% and 60% of our revenue was derived from sales through WT for the fiscal years ended January 31, 2022, 2021 and 2020, respectively, and approximately 57% of our revenue was derived from sales through WT for the three months ended April 30, 2022.
+Added: Approximately 62%, 63% and 60% of our revenue was derived from sales through WT for the fiscal years ended January 31, 2022, 2021 and 2020, respectively, and approximately 58% of our revenue was derived from sales through WT for the six months ended July 31, 2022.
We anticipate that a significant portion of our revenue will continue to be derived from sales through WT in the foreseeable future.
126 unchanged sentences
Costs or payments made in connection with warranty and product liability claims and product recalls could harm our financial condition and results of operations, as well as harm our reputation and cause the market value of our ordinary shares to decline.
−Removed: We are subject to governmental laws, regulations and other legal obligations related to privacy and data protection .
−Removed: The legislative and regulatory framework for privacy and data protection issues worldwide is rapidly evolving and is likely to remain uncertain for the foreseeable future.
−Removed: We collect personally identifiable information, or PII, and other data as part of our business processes and activities.
+Added: We are subject to governmental laws, regulations and other legal obligations related to privacy , data protection and cybersecurity .
+Added: The legislative and regulatory framework for privacy, data protection and cybersecurity issues worldwide is rapidly evolving and is likely to remain uncertain for the foreseeable future.
+Added: We collect and otherwise process personally identifiable information, or PII, and other data as part of our business processes and activities.
This data is subject to a variety of U.S.
1 unchanged sentence
Many foreign countries and governmental bodies, including China, the European Union and other relevant jurisdictions where we conduct business, have laws and regulations concerning the collection and use of PII and other data obtained from their residents or by businesses operating within their jurisdictions that are currently more restrictive than those in the U.S.
−Removed: For example, effective May 2018, the European Union adopted the General Data Protection Regulation that imposed more stringent data protection requirements and provided for greater penalties for noncompliance.
+Added: For example, effective May 2018, the European Union adopted the General Data Protection Regulation, or GDPR, that imposed more stringent data protection requirements and provided for greater penalties for noncompliance.
+Added: The United Kingdom has adopted legislation that substantially implements the GDPR and provides for a similar penalty structure.
Similarly, California has adopted the California Consumer Privacy Act of 2018, or CCPA, which took effect in 2020.
+Added: California has adopted a new law, the California Privacy Rights Act of 2020, or CPRA, that will substantially expand the CCPA effective January 1, 2023.
The CCPA gives California residents the right to access, delete and opt out of certain sharing of their information, and imposes penalties for failure to comply.
1 unchanged sentence
The Data Security Law is the first comprehensive data security legislation in China and aims to regulate a wide range of issues in relation to the collection, storage, processing, use, provision, transaction and publication of any kind of data.
−Removed: Given its recent passage, there is significant uncertainty in how regulators will interpret and enforce the law, but it contains provisions that allow substantial government oversight and include fines for failure to obtain required approval from China’s cyber and data protection regulators for cross-border personal information-related data transfers.
−Removed: Any inability, or perceived inability, to adequately address privacy and data protection concerns, even if unfounded, or to comply with applicable laws, regulations, policies, industry standards, contractual obligations or other legal obligations, could result in additional cost and liability to us, damage our reputation and adversely affect our business.
+Added: There is significant uncertainty in how regulators will interpret and enforce the law, but it contains provisions that allow substantial government oversight and include fines for failure to obtain required approval from China’s cyber and data protection regulators for cross-border personal information-related data transfers.
+Added: Aspects of these laws remain unclear, resulting in further uncertainty and potentially requiring us to modify our data practices and policies and to incur substantial additional costs and expenses in an effort to comply.
+Added: Because the interpretation and application of many laws and regulations relating to privacy, data protection, and data security, along with industry standards, are uncertain, it is possible that these laws and regulations may be interpreted and applied in a manner that is inconsistent with our data management practices or the features of our products or solutions, and we could face fines, lawsuits, regulatory investigations, and other claims and penalties, and we could be required to fundamentally change our products or our business practices, which could have an adverse effect on our business.
+Added: Any inability, or perceived inability, to adequately address privacy and data protection concerns, or to comply with applicable laws, regulations, policies, industry standards, contractual obligations or other legal obligations, even if unfounded, could result in additional cost and liability to us, inhibit sales, damage our reputation and adversely affect our business.
Failure to comply with the U.S.
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While we have completed our accounting for the effects of the Tax Act, additional regulatory guidance may still be issued by the applicable taxing authorities which could materially affect our tax obligations and effective tax rate.
+Added: In addition, many jurisdictions and the Organization for Economic Co-operation and Development, or OECD, which represents a coalition of member countries, have announced support for a global 15% minimum tax.
+Added: We may be subject to these and additional taxes, which could adversely impact our effective tax rate and operating results.
In addition, our income tax returns are subject to continuous examination by the Internal Revenue Service, or IRS, and other tax authorities.
11 unchanged sentences
taxation notwithstanding our domicile outside the United States.
−Removed: In addition, on October 5, 2015 the Organization for Economic Co-operation and Development, or OECD, which represents a coalition of member countries, released its final reports from the BEPS Action Plans.
+Added: In addition, on October 5, 2015, the OECD released its final reports from the BEPS Action Plans.
The final reports include recommendations covering a number of issues, including country-by-country reporting, permanent establishment rules, transfer pricing rules and tax treaties.
−Removed: These changes, which have been or are in the process of being adopted by numerous countries, could increase uncertainties and may adversely affect our provision for income taxes.
−Removed: In December 2018, the Cayman Islands passed the International Tax Co-Operation (Economic Substance) Law, 2018.
−Removed: Effective as of January 1, 2019, the new legislation requires Cayman Islands companies carrying one or more relevant activity to maintain a substantial economic presence in the Cayman Islands.
+Added: Many of these changes have been or are in the process of being adopted by numerous countries and could materially and adversely affect our provision for income taxes.
+Added: In December 2018, the Cayman Islands passed the International Tax Co-Operation (Economic Substance) Law, 2018, which requires Cayman Islands companies carrying one or more relevant activity to maintain a substantial economic presence in the Cayman Islands.
Effective from December 31, 2019, we have structured our activities to comply with the new law.
31 unchanged sentences
shareholders together own, or are considered to own under the attribution rules, more than fifty percent of the voting power or value of a non-U.S.
−Removed: The Tax Act repealed Internal Revenue Code Section 958(b)(4), which, unless clarified in future regulations or other guidance, may result in classification of certain of the Company’s foreign subsidiaries as CFCs with respect to any single 10% U.S.
−Removed: This may be the result without regard to whether 10% U.S.
−Removed: shareholders together own, directly or indirectly, more than fifty percent of the voting power or value of the Company as was the case under prior rules.
−Removed: The repeal is effective as of the last taxable year of CFCs beginning before January 1, 2018 and for the taxable year of 10% U.S.
−Removed: shareholders in which the CFCs' taxable year ends.
+Added: Under the Tax Act , however, certain of the Company’s foreign subsidiaries may be classified as CFCs with respect to any single 10% U.S.
+Added: shareholder , even without regard to whether 10% U.S.
+Added: shareholders together own, directly or indirectly, more than fifty percent of the voting power or value of the Company .
Risks Related to Our Intellectual Property
49 unchanged sentences
Since our initial public offering in October 2012, the market price of our ordinary shares has been highly volatile.
+Added: The market price of our stock has been particularly volatile since the onset of the COVID-19 pandemic.
+Added: For example, since February 1, 2020, the trading price of our common stock ranged from a low of $36.02 to a high of $ 227.59.
The trading price of our ordinary shares is likely to remain volatile and could be subject to wide fluctuations in price in response to various factors, some of which are beyond our control.
30 unchanged sentences
If our actual performance does not meet or exceed our guidance or investor expectations, the trading price of our ordinary shares is likely to decline.
+Added: Similarly, if our guidance does not meet or exceed expectations or investors or securities analysts, the trading price of our ordinary shares is likely to decline.
The price of our ordinary shares could decrease as a result of shares being sold in the market.
43 unchanged sentences
Our operations and those of our manufacturers are vulnerable to interruption caused by technical breakdowns, computer hardware and software malfunctions, software viruses, infrastructure failures, regional health issues and pandemics, earthquakes, fires, severe storms, floods and other negative impacts from climate change, power losses, telecommunications failures, terrorist attacks, wars, Internet failures and other events beyond our control.
+Added: Our operations could also be disrupted by geopolitical conditions, particularly in Taiwan or China, where the majority of our employees are located.
Any disruption in our services or operations could result in a reduction in revenue or a claim for substantial damages against us, regardless of whether we are responsible for that failure.
10 unchanged sentences
Amended and Restated Memorandum of Association and Second Amended and Restated Articles of Association of the Registrant.
−Removed: Employment letter entered into by Ambarella Corp.
−Removed: with Brian White, dated March 18, 2022.
−Removed: Change of Control and Severance Agreement entered into by Ambarella Corp.
−Removed: with Brian White, dated March 28, 2022.
Certification of Principal Executive Officer Required Under Rule 13a-14(a) and 15d-14(a) of the Securities Exchange Act of 1934, as amended.
7 unchanged sentences
Inline XBRL Taxonomy Presentation Linkbase Document
−Removed: The cover page from the Company’s Quarterly Report on Form 10-Q for the quarter ended April 30, 2022, has been formatted in Inline XBRL and included in Exhibit 101.
+Added: The cover page from the Company’s Quarterly Report on Form 10-Q for the quarter ended July 31, 2022, has been formatted in Inline XBRL and included in Exhibit 101.
Incorporated by reference to the Registrant’s registration statement on Form S-1 (No.
1 unchanged sentence
3 as filed with the Securities and Exchange Commission on September 12, 2012.
−Removed: M anagement contracts or compensation plans or arrangements in which directors or executive officers are eligible to participate.
In accordance with Item 601(b)(32)(ii) of Regulation S-K and SEC Release No.
4 unchanged sentences
AMBARELLA, INC.
+Added: September 8, 2022
/s/ Feng-Ming Wang
1 unchanged sentence
President and Chief Executive Officer
+Added: September 8, 2022
Chief Financial Officer
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.