4 unchanged sentences
Interest Rate Risk
−Removed: We had cash and cash equivalents of $125.2 million as of September 30, 2025, which consisted of investments in money market funds, cash in readily available checking accounts, overnight repurchase investments, and other marketable securities.
−Removed: As of September 30, 2025, we had outstanding principal debt of $245.7 million, which carries interest as defined in our Credit Agreement.
−Removed: Refer to Note 8 of the consolidated financial statements in this Quarterly Report on Form 10-Q for additional details.
+Added: We had cash and cash equivalents of $150.0 million as of March 31, 2026, which consisted of investments in money market funds, cash in readily available checking accounts, overnight repurchase investments, and other marketable securities.
+Added: As of March 31, 2026, we had outstanding principal debt of $238.4 million, which carries interest as defined in our Credit Agreement.
+Added: Refer to Note 8 of the consolidated financial statements 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 September 30, 2025 would increase our interest expense by approximately $2.4 million annually.
+Added: A hypothetical increase of one percentage point in the interest rate as of March 31, 2026 would increase our interest expense by approximately $2.4 million annually.
Inflation Risk
We are exposed to market risks related to inflation in personnel costs, third-party service providers, subcontracting costs, professional fees, and general overhead expenses.
−Removed: Although inflation has decreased from the relative highs experienced in 2023, if inflation pressure increases in severity, we may not be able to fully offset such higher costs through price increases and productivity initiatives.
+Added: If inflation pressure increases in severity, we may not be able to fully offset such higher costs through price increases and productivity initiatives.
While we do not believe inflation has had a material impact on our results of operations to date, a continued high rate of inflation in the future may have an adverse effect on our ability to maintain operating costs and adversely affect our gross profit margin.
7 unchanged sentences
dollar to other currencies will negatively affect revenue and other operating results as expressed in U.S.
−Removed: Based on a sensitivity analysis, a 10% change in the foreign currency exchange rates for the nine months ended September 30, 2025 would have impacted our total revenue by approximately $18 million and operating loss by approximately $8 million.
+Added: Based on a sensitivity analysis, a 10% change in the foreign currency exchange rates for the three months ended March 31, 2026 would have impacted our total revenue by approximately $7.2 million and net loss by approximately $0.7 million.
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 income (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.
+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.