4 unchanged sentences
Interest Rate Risk
−Removed: We had total cash, cash equivalents, and restricted cash of $173.8 million as of June 30, 2023, which consisted of a money market funds, cash in readily available checking accounts, and overnight repurchase investments.
+Added: We had total cash, cash equivalents, and restricted cash of $130.8 million as of September 30, 2023, which consisted of a money market fund, cash in readily available checking accounts, and overnight repurchase investments.
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.
−Removed: In addition, as of June 30, 2023, we held $65.4 million of fixed income securities such as U.S.
+Added: In addition, as of September 30, 2023, we held $38.7 million of fixed income securities such as U.S.
Treasuries, commercial paper, corporate bonds, and agency bonds.
2 unchanged sentences
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 June 30, 2023.
+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, 2023.
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, 2023, our outstanding principal debt balance is $209.7 million, which carries interest as defined in our Credit Agreement.
+Added: As of September 30, 2023, our outstanding principal debt balance is $207.4 million, which carries interest as defined in our Credit Agreement.
Refer to Note 8 of the condensed consolidated financial statements in this Quarterly Report on Form 10-Q for additional details.
We assessed our exposure to changes in interest rates by analyzing sensitivity to our operating results, assuming various changes in market interest rates.
−Removed: A hypothetical increase of one percentage point in the interest rate as of June 30, 2023 would increase our interest expense by approximately $2.1 million annually.
+Added: A hypothetical increase of one percentage point in the interest rate as of September 30, 2023 would increase our interest expense by approximately $2.1 million annually.
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, 2023 would have impacted our total revenue by approximately 3% and operating loss by approximately 1%.
+Added: Based on a sensitivity analysis, a 10% change in the foreign currency exchange rates for the nine months ended September 30, 2023 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.
−Removed: We have experienced and will continue to experience fluctuations in net loss as a result of transaction gains or losses related to remeasuring certain current asset and current liability balances denominated in currencies other
−Removed: than the functional currency of the entities in which they are recorded.
+Added: We have experienced and will continue to experience fluctuations in net loss as a result of transaction gains or losses related to remeasuring certain current asset and current liability balances denominated in currencies other than the functional currency of the entities in which they are recorded.
We have not engaged in the hedging of foreign currency transactions to date, although we may choose to do so in the future.
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.