Quantitative and Qualitative Disclosures About Market Risk
+Added: We are exposed to financial market risks, including changes in interest rates and foreign currency exchange rates.
Interest Rate Risk
−Removed: We do not use derivative financial instruments in our investment portfolio.
We have an investment portfolio of fixed income securities that are classified as available-for-sale securities.
4 unchanged sentences
We monitor our interest rate and credit risks, including our credit exposure to specific rating categories and to individual issuers.
−Removed: There were no impairment charges on our investments during fiscal year 2021.
+Added: The unrealized loss was immaterial as of December 31, 2022 and there was no impairment charge on our investments for the year ended December 31, 2022.
Foreign Currency Exchange Rate Risk
+Added: We are exposed to risks associated with foreign exchange rate fluctuations due to our international sales and operating activities.
We invoice some of our international customers in foreign currencies, including the Australian dollar and Canadian dollar.
3 unchanged sentences
dollar relative to foreign currencies could make our products more expensive and therefore reduce the demand for our products.
−Removed: Such a decline in the demand for our products could reduce sales and materially adversely affect our business, results of operations, and financial condition.
+Added: Such a decline in the demand for our products could reduce sales and materially and adversely affect our business, results of operations, and financial condition.
Certain operating expenses of our foreign operations require payment in local currencies.
−Removed: We are exposed to risks associated with foreign exchange rate fluctuations due to our international sales and operating activities.
−Removed: These risks may change over time as our business evolves and could negatively impact our operating results and financial condition.
−Removed: As we grow our operations, our exposure to foreign currency risk could become more significant.
−Removed: In the third fiscal quarter of 2018, we established a hedge program to hedge foreign currency exchange risks and currently do not expect to enter into foreign currency exchange contracts for trading or speculative purposes.
−Removed: See Note 2, Summary of Significant Accounting Policies for more information regarding the hedge program.
As of December 31, 2022, we had net assets in various local currencies.
−Removed: A hypothetical 10% movement in foreign exchange rates would have an immaterial impact on our net loss for the period.
+Added: A hypothetical 10% movement in foreign exchange rates would not have a material impact on our operating results.
Actual future gains and losses associated with our foreign currency exposures and positions may differ materially from the sensitivity analysis performed as of December 31, 2022 due to the inherent limitations associated with predicting foreign currency exchange rates and our actual exposures and positions.
−Removed: For the years ended December 31, 2021 and 2020, 6% and 10% of revenue was denominated in a currency other than the U.S.
+Added: For the years ended December 31, 2022, 2021, and 2020, 3%, 6%, and 10% of our total revenue was denominated in currencies other than the U.S.
dollar, respectively.
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.