12 unchanged sentences
Due to the short‑term nature of our investments, we have not been exposed to, nor do we anticipate being exposed to, material risks due to changes in interest rates.
−Removed: On August 1, 2023, we entered into the Credit Agreement, which provided for a $50 million Credit Facility.
−Removed: On May 1, 2024, we entered into the Amendment, which, among other things, increased our Credit Facility to $100 million, and on October 28, 2024, we entered into the Second Amendment, which further increased our Credit Facility to $150 million.
−Removed: Interest on borrowings under the Credit Facility accrues at an annual rate tied to a base rate or the SOFR, at our election.
−Removed: Under the terms of the Second Amendment, 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 2.0% and 2.5% , and loans based on the base rate bear interest at a rate equal to the base rate plus an applicable margin between 1.0% and 1.50% , in each case of the foregoing, depending upon our consolidated total leverage ratio for the most recent fiscal quarter for which financial statements have been delivered under the Credit Agreement.
+Added: Interest on borrowings under our Credit Facility accrues at an annual rate tied to a base rate or the SOFR, at our election.
+Added: Under the terms of the Credit Agreement, 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 2.0% and 2.5% , and loans based on the base rate bear interest at a rate equal to the base rate plus an applicable margin between 1.0% and 1.50% , in each case of the foregoing, depending upon our consolidated total leverage ratio for the most recent fiscal quarter 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.
−Removed: As of December 31, 2024 , there were no outstanding borrowings.
+Added: As of December 31, 2025 , there were no outstanding borrowings under the Credit Facility.
As of December 31, 2025, we had gross carrying amounts of $8 million and $250 million outstanding from our 2026 Convertible Notes and 2028 Convertible Notes, respectively.
3 unchanged sentences
We carry the Convertible Notes at face value less unamortized discount on our balance sheet, and we present the fair value for required disclosure purposes only.
−Removed: S ee Note 8, “Debt,” to the consolidated financial statements included elsewhere in this Annual Report on Form 10-K for additional information on the Revolving Credit Facility and the Convertible Notes .
+Added: S ee Note 7, “Debt,” to the consolidated financial statements included elsewhere in this Annual Report on Form 10-K for additional information on the Credit Facility and the Convertible Notes .
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.
7 unchanged sentences
Foreign currency translation adjustments are accounted for as a component of accumulated other comprehensive loss within stockholders’ equity.
−Removed: Gains or losses due to transactions in foreign currencies are included in other income, net in our consolidated statements of operations.
+Added: Gains or losses due to transactions in foreign currencies are included in other (expense) income, net in our consolidated statements of operations.
We do not currently engage in any hedging activity to reduce our potential exposure to currency fluctuations, although we may choose to do so in the future.
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 rest of world operations.
+Added: dollar weakens against foreign currencies, the translation of these foreign currencies results in increased revenue and operating expenses for our rest of world operations.
Similarly, our revenue and operating expenses for our rest of world operations decrease if the U.S.
2 unchanged sentences
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.