15 unchanged sentences
A hypothetical 10% change in interest rates would not have had a material impact on our financial results included elsewhere in this Annual Report on Form 10-K.
−Removed: On June 6, 2022, we entered into the Credit Agreement, which provides for a $50 million Credit Facility.
−Removed: Interest on borrowings accrues at an annual rate tied to a base rate or the Secured Overnight Financing Rate (“SOFR”), at our election.
−Removed: Loans based on SOFR bear interest at a rate equal to SOFR plus an applicable margin between 1.50% and 2.00% depending upon our consolidated adjusted quick ratio for the immediately preceding quarter and loans based on the base rate bear interest at a rate equal to the base rate plus an applicable margin between 0.50% and 1.00% depending upon our consolidated adjusted quick ratio for the immediately preceding quarter.
+Added: On August 1, 2023, we entered into the Credit Agreement, which provides for a $50 million Credit Facility.
+Added: Interest on borrowings under the Credit Facility accrues at an annual rate tied to a base rate or the SOFR, at our election.
+Added: Loans based on SOFR bear interest at a rate equal to term SOFR for the applicable interest period plus 10 basis points plus an applicable margin between 2.25% and 2.75%, and loans based on the base rate bear interest at a rate equal to the base rate plus an applicable margin between 1.25% and 1.75%, in each case of the foregoing, depending upon our consolidated EBITDA for the most recent period of four consecutive fiscal quarters for which financial statements have been delivered under the Credit Agreement.
As a result, we are exposed to interest rate risk as we make draws on the Credit Facility.
As of December 31, 2023, there were no outstanding borrowings.
−Removed: In February 2020 and March 2021, we issued $400 million and $250 million aggregate principal amount of the 2026 Convertible Notes and the 2028 Convertible Notes, respectively.
−Removed: On November 2, 2022, we repurchased $160 million of our 2026 Convertible Notes as further described in Note 8, “Debt,” to the consolidated financial statements included elsewhere in this Annual Report on Form 10-K.
+Added: As of December 31, 2023, we had a gross carrying amount of $175 million and $250 million outstanding from our 2026 Convertible Notes and 2028 Convertible Notes, respectively.
As the Convertible Notes have a fixed annual interest rate, we have no financial or economic interest exposure associated with changes in interest rates.
4 unchanged sentences
The functional currencies of our foreign subsidiaries are the respective local currencies of the jurisdictions in which they operate, which are primarily the Euro and the British Pound.
−Removed: Approximately 10% of our total revenue was generated outside the United States for the year ended December 31, 2022.
+Added: Approximately 14%, 16% and 12% of our total revenue was generated outside North America for the years ended December 31, 2023, 2022 and 2021, respectively.
The majority of our revenues and operating expenses are denominated in U.S.
6 unchanged sentences
To the extent the U.S.
−Removed: dollar weakens against foreign currencies, the translation of these foreign currencies result in increased revenue and operating expenses for our non-U.S.
−Removed: Similarly, our revenue and operating expenses for our non-U.S.
−Removed: operations decrease if the U.S.
+Added: dollar weakens against foreign currencies, the translation of these foreign currencies result in increased revenue and operating expenses for our rest of world operations.
+Added: Similarly, our revenue and operating expenses for our rest of world operations decrease if the U.S.
dollar strengthens against foreign currencies.
−Removed: A hypothetical 10% adverse change in foreign currency exchange rates would have adversely impacted our net income for the year ended December 31, 2022 by approximately $2.4 million.
+Added: A hypothetical 10% adverse change in foreign currency exchange rates would have adversely impacted our net loss for the year ended December 31, 2023 by approximately $3 million.
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.