1 unchanged sentence
Interest Rate Risk
−Removed: We had cash and cash equivalents, marketable securities, and short-term deposits of $351.8 million as of March 31, 2025, which we hold for working capital purposes.
+Added: We had cash and cash equivalents, marketable securities, and short-term deposits of $430.1 million as of June 30, 2025, which we hold for working capital purposes.
Our cash and cash equivalents are held in cash deposits and money market funds.
2 unchanged sentences
The effect of a hypothetical 10% change in interest rates would not have a material negative impact on our condensed consolidated financial statements.
−Removed: As of March 31, 2025, we had no outstanding obligations under our line of credit with HSBC under the Loan Agreement.
+Added: As of June 30, 2025, we had no outstanding obligations under our line of credit with HSBC under the Loan Agreement.
To the extent we enter into other long-term debt arrangements in the future, we would be subject to fluctuations in interest rates which could have a material impact on our future financial condition and results of operation.
Foreign Currency Exchange Risk
−Removed: Fluctuations in foreign currencies impact the amount of total assets and liabilities that we report for our foreign subsidiaries upon the translation of these amounts into U.S.
−Removed: In particular, the amount of cash, cash equivalents and marketable securities that we report in U.S.
−Removed: Dollars for a significant portion of the cash held by these subsidiaries is subject to translation variance caused by changes in foreign currency exchange rates as of the end of each respective reporting period, the offset to which is substantially recorded to accumulated other comprehensive income on our condensed consolidated balance sheets and is also presented as a line item in its condensed consolidated statements of comprehensive income (loss).
−Removed: We believe we are in large part naturally hedged against foreign currency exchange risk from our ongoing business operations, as most of our regional revenues are generated in the same currency as that region’s expenses are paid.
−Removed: The effect of a hypothetical 10% change in foreign currency exchange rates would not have a material negative impact on our condensed consolidated financial statements.
+Added: We have foreign currency risks related to our revenue denominated in currencies other than the U.S.
+Added: Dollar, primarily consisting of the Euro, the Singapore Dollar, the Japanese Yen, the Australian Dollar and the British Pound Sterling.
+Added: Our revenues therefore benefit from a weakening of the U.S.
+Added: Dollar relative to these currencies and, conversely, are adversely affected by a strengthening of the U.S.
+Added: Dollar relative to these currencies.
+Added: We also have foreign currency risks related to operating expenses denominated in a number of currencies other than the U.S.
+Added: Our expenses are therefore adversely affected from a weakening of the U.S.
+Added: Dollar relative to these currencies and, conversely, benefit by a strengthening of the U.S.
+Added: Dollar relative to these currencies.
+Added: Revenues denominated in the U.S.
+Added: Dollar as a percentage of total revenues were approximately 37% for the quarter ended June 30, 2025.
+Added: Expenses denominated in the U.S.
+Added: Dollar as a percentage of total expenses were approximately 49% for the quarter ended June 30, 2025.
+Added: A hypothetical 10% increase in the U.S.
+Added: Dollar against other currencies would have resulted in a decrease in income from operations of approximately $1.6 million for the quarter ended June 30, 2025.
+Added: This analysis disregards that rates can move in opposite directions and that losses from one geographic area may be offset by gains from another geographic area.
Concentration of Credit Risk
1 unchanged sentence
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.