3 unchanged sentences
Our market risk exposure is primarily the result of fluctuations in interest rates and foreign currency exchange rates.
−Removed: The uncertainty that exists with respect to the economic impact of the global COVID-19 pandemic has also introduced significant volatility in the financial markets.
Interest Rate Risk
−Removed: We had total cash, cash equivalents, and restricted cash of $79.1 million as of June 30, 2022, which consisted of $9.4 million invested in a money market fund, cash in readily available checking accounts, and overnight repurchase investments.
−Removed: 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 June 30, 2022, we held $61.8 million of fixed income securities such as U.S.
+Added: We had total cash, cash equivalents, and restricted cash of $53.9 million as of September 30, 2022, which consisted of a money market fund, cash in readily available checking accounts, and overnight repurchase investments.
+Added: These instruments, which are not dependent on interest rate fluctuations that may cause principal amounts to fluctuate, are held for reinvestment and working capital purchases.
+Added: In addition, as of September 30, 2022, we held $40.9 million of fixed income securities such as U.S.
Treasuries, commercial paper, corporate bonds, and asset-backed securities.
2 unchanged sentences
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.
−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 June 30, 2022.
+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 September 30, 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: As of June 30, 2022, we had no outstanding borrowings.
+Added: As of September 30, 2022, we had no outstanding borrowings.
Inflation Risk
11 unchanged sentences
dollar to other currencies will negatively affect revenue and net operating results as expressed in U.S.
−Removed: Based on a sensitivity analysis, a 10% change in the foreign currency exchange rates for the six months ended June 30, 2022 would have impacted our total revenue by approximately 3% and operating loss by approximately 3%.
+Added: Based on a sensitivity analysis, a 10% change in the foreign currency exchange rates for the nine months ended September 30, 2022 would have impacted our total revenue by approximately 3% and operating loss by approximately 2% .
This calculation assumes all currencies change in the same direction and proportion relative to the U.S.
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.