5 unchanged sentences
Interest Rate Risk
−Removed: We had total cash, cash equivalents, and restricted cash of $130.4 million as of September 30, 2021, which consisted of $59.4 million invested in a money market fund, cash in readily available checking accounts, and overnight repurchase investments.
+Added: We had total cash, cash equivalents, and restricted cash of $109.9 million as of March 31, 2022, which consisted of $43.6 million invested in a money market fund, cash in readily available checking accounts, and overnight repurchase investments.
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.
−Removed: In addition, as of September 30, 2021, we held $61.4 million of fixed income securities such as U.S.
−Removed: treasury bonds, commercial paper, corporate bonds, and asset-backed securities.
+Added: In addition, as of March 31, 2022, we held $61.6 million of fixed income securities such as U.S.
+Added: Treasuries, commercial paper, corporate bonds, and asset-backed securities.
These securities are subject to market risk due to fluctuations in interest rates, which may affect our interest income and the fair value of our investments.
1 unchanged sentence
As such, no gains or losses due to changes in interest rates are recognized in our condensed consolidated statements of operations unless such securities are sold prior to maturity or due to expected credit losses.
−Removed: 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 September 30, 2021.
+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 March 31, 2022.
To date, fluctuations in interest income have also not been significant.
1 unchanged sentence
We do not enter into investments for trading or speculative purposes.
−Removed: At September 30, 2021, we had no outstanding borrowings.
+Added: At March 31, 2022, we had no outstanding borrowings.
Inflation Risk
15 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.