4 unchanged sentences
If we do not effectively manage the risks associated with this currency risk, our revenue, cash flows and financial condition could be adversely affected.
−Removed: During 2024, 2023 and 2022, we recorded a foreign exchange gain of $0.1 million, $0.2 million and $1.6 million, respectively.
+Added: During 2025, we recorded a foreign exchange loss of $74,000, during 2024 and 2023 we recorded a foreign exchange gain of $0.1 million and $0.2 million, respectively.
We incur foreign currency transaction exchange gains and losses due to operations in general.
7 unchanged sentences
At quarter end and year end any foreign currency hedges not settled are netted on the condensed consolidated balance sheet and consolidated balance sheet, respectively, and classified as Level 3 assets and liabilities.
−Removed: As September 30, 2025 and December 31, 2024, the net change in fair value from the placement of the hedge to settlement at each month end during the quarter had a de minimis impact to the condensed consolidated results.
+Added: As of March 31, 2026 and December 31, 2025, the net change in fair value from the placement of the hedge to settlement at each month end during the quarter had a de minimis impact to the condensed consolidated results.
The functional currency for our foreign operations is the renminbi, the local currency of China, and in the future we may establish short term hedges covering renminbi.
17 unchanged sentences
Interest Rate
−Removed: September 30,
Cash, restricted cash and cash equivalents
9 unchanged sentences
The credit risk in our accounts receivable is mitigated by our credit evaluation process and the broad dispersion of sales transactions.
−Removed: Three customers accounted for more than 10% of our accounts receivable balance as of September 30, 2025 and one customer accounted for more than 10% of our accounts receivable balance as of December 31, 2024
+Added: Two customers each a ccounted for more than 10% of our accounts receivable balance as of March 31, 2026 and one customer accounted for more than 10% as of December 31, 2025.
Impairment of Equity Investment Risk
1 unchanged sentence
These minority investments are reviewed for other than-temporary declines in value on a quarterly basis.
−Removed: These investments are classified as other assets in the condensed consolidated balance sheets and accounted for under either the equity or fair value method, depending on whether we have the ability to exercise significant influence over the raw material company’s operations or financial decisions.
+Added: These investments are classified as other assets in the condensed consolidated balance sheets and accounted for under the equity method.
We monitor our investments for impairment and record reductions in carrying value when events or changes in circumstances indicate that the carrying value may not be recoverable.
Reasons for other-than-temporary declines in value include whether the related company would have insufficient cash flow to operate for the next twelve months, significant changes in the operating performance and changes in market conditions.
−Removed: Our minority investments under the equity method as of September 30, 2025 and December 31, 2024 totaled $14.6 million and $14.1 million, respectively.
−Removed: Our minority investment under the fair value method as of September 30, 2025 and December 31, 2024 totaled $0.7 million and $0.6 million, respectively.
−Removed: See Note 7 for a discussion on the fair value method investment.
+Added: Our minority investments under the equity method as of March 31, 2026 and December 31, 2025 totale d $15.5 m illion and $15.0 million, 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.