4 unchanged sentences
Interest Rate Risk
−Removed: We had cash and cash equivalents of $112.5 million as of December 31, 2020, which consisted of cash in readily available checking accounts, overnight repurchase investments, and short term investments with remaining maturities of 90 days or less.
−Removed: These securities are not dependent on interest rate fluctuations that may cause the principal amount of these assets to fluctuate.
+Added: We had cash and cash equivalents of $100.8 million as of December 31, 2021, which consisted of investments in a money market fund, cash in readily available checking accounts, and overnight repurchase investments.
+Added: These securities, which are not dependent on interest rate fluctuations that may cause principal amounts to fluctuate, are held for reinvestment and working capital purchases or, in the case of restricted cash, to settle an escrow liability established pursuant to a business combination.
+Added: In addition, as of December 31, 2021, we held $67.2 million of fixed income securities such as U.S.
+Added: treasury bonds, commercial paper, corporate bonds, and asset-backed securities.
+Added: These securities are subject to market risk due to fluctuations
+Added: in interest rates, which may affect our interest income and the fair value of our investments.
+Added: We classify investments as available-for-sale, including those with stated maturities beyond 12 months.
+Added: As such, no gains or losses due to changes in interest rates are recognized in our consolidated statements of operations unless such securities are sold prior to maturity or due to expected credit losses.
+Added: A hypothetical 100 basis point change in interest rates would not have had a material effect on the fair market value of our investment portfolio as of December 31, 2021.
+Added: To date, fluctuations in interest income have also not been significant.
+Added: Our investments are made for the purpose of preserving capital, fulfilling liquidity needs, and maximizing total return.
+Added: We do not enter into investments for trading or speculative purposes.
At December 31, 2021, we had no outstanding borrowings.
16 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.