3 unchanged sentences
The Company is exposed to foreign exchange risk as a result of transactions in currencies other than its functional currency, the U.S.
−Removed: The majority of the Company’s revenue in the first quarter of fiscal 2027 was transacted in U.S.
+Added: The majority of the Company’s revenue in the second quarter of fiscal 2027 was transacted in U.S.
Portions of the revenue were denominated in Canadian dollars, euros and British pounds.
1 unchanged sentence
dollars, euros and British pounds.
−Removed: At May 31, 2026, approximate ly 15% of cash and cash equivalents, 38% o f accounts receivables and 66% o f accounts payable were denominated in foreign curre ncies (February 28, 2026 – 15.0%, 22% and 46%, respectively).
+Added: At August 31, 2026, approximate ly 10% of cash and cash equivale nts, 44% of accounts receivables and 71% of accounts payable were denominated in foreign curre ncies (February 28, 2026 – 15.0%, 22% and 46%, respectively).
These foreign currencies primarily include the Canadian dollar, euro and British pound.
2 unchanged sentences
If overall foreign currency exchange rates to the U.S.
−Removed: dollar uniformly weakened or strengthened by 10% related to the Company’s net monetary asset or liability balances in foreign currencies at May 31, 2026 (after hedging activities), the impact to the Company would be immaterial.
+Added: dollar uniformly weakened or strengthened by 10% related to the Company’s net monetary asset or liability balances in foreign currencies at August 31, 2026 (after hedging activities), the impact to the Company would be immaterial.
The Company regularly reviews its currency forward and option positions, both on a stand-alone basis and in conjunction with its underlying foreign currency exposures.
12 unchanged sentences
The Company establishes an allowance for credit losses (“ACL”) that corresponds to the specific credit risk of its customers, historical trends and economic circumstances.
−Removed: The ACL as at May 31, 2026 was $3.6 million (February 28, 2026 - $3.4 million).
−Removed: There were two customers that comprised more than 10% of accounts receivable as at May 31, 2026 (February 28, 2026 - two customers that comprised more than 10%).
−Removed: During the first quarter of fiscal 2027, the percentage of the Company’s receivable balance that was past due increased b y 3.1% c ompared to the fourth quarter of fiscal 2026.
+Added: The ACL as at August 31, 2026 was $3.5 million (February 28, 2026 - $3.4 million).
+Added: There were three customers that comprised more than 10% of accounts receivable as at August 31, 2026 (February 28, 2026 - two customers that comprised more than 10%).
+Added: During the second quarter of fiscal 2027, the percentage of the Company’s receivable balance that was past due increased b y 3.1% c ompared to the fourth quarter of fiscal 2026.
Although the Company actively monitors and attempts to collect on its receivables as they become due, the risk of further delays or challenges in obtaining timely payments of receivables from resellers and other distribution partners exists.
−Removed: The occurrence of such delays or challenges in obtaining timely payments could negatively impact the Company’s liquidity and financial condition.
−Removed: There was one customer that comprised 13% of the Company’s revenue in the three months ended May 31, 2026, respectively (three months ended May 31, 2025 - one customer that comprised 13% of the Company’s revenue).
+Added: The occurrence of such delays or chal lenges in obtaining timely payments could negatively impact the Company’s liquidity and financial condition.
+Added: There were two customers that each comprised 10% of the Company’s revenue during the three months ended August 31, 2026.
+Added: There were no customers that comprised more than 10% of the Company’s revenue during the six months ended August 31, 2026 (three and six months ended August 31, 2025 - no customer that comprised more than 10% of the Company’s revenue and one customer that comprised 11% of the Company’s revenue, respectively).
Market values are determined for each individual security in the investment portfolio.
4 unchanged sentences
The Company's equity investments in privately-held companies are subject to a wide variety of market-related risks that could substantially reduce or increase the fair value of its holdings.
−Removed: The Company's equity investments in privately-held companies are recorded using the measurement alternative and are assessed each reporting period for observable price changes and impairments, which may involve estimates and judgments given the lack of readily available market data.
+Added: The Company's
+Added: equity investments in privately-held companies are recorded using the measurement alternative and are assessed each reporting period for observable price changes and impairments, which may involve estimates and judgments given the lack of readily available market data.
Certain equity investments in privately-held companies are in the early stages of development and are inherently risky due to their lack of operational history.
−Removed: The Company has a high concentration of risk associated with a small
−Removed: number of non-marketable equity investments that are impacted by fluctuations in their fair values or by observable changes or impairments.
+Added: The Company has a high concentration of risk associated with a small number of non-marketable equity investments that are impacted by fluctuations in their fair values or by observable changes or impairments.
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.