3 unchanged sentences
Interest Rate Risk
−Removed: We had approximately $34.6 million in cash and cash equivalents and $29.0 million in available for sale securities as of September 30, 2023, which include highly liquid, investment grade debt securities.
+Added: We had approximately $15.8 million in cash and cash equivalents, $12.6 million in available for sale securities and $24.8 million in restricted cash and cash equivalents and restricted short-term investments as of March 31, 2024, which include highly liquid, investment grade debt securities.
Such interest-bearing instruments are exposed to a certain degree of interest rate risk.
3 unchanged sentences
To minimize our exposure due to adverse shifts in interest rates, we invest primarily in short-term securities.
+Added: The amount we are required to hold as restricted cash and cash investments and restricted short-term investments is reduced as the outstanding principal amount of the Notes is paid.
Although we are seeing, and expect to continue to see, increased interest rates, due to our investment in highly liquid and high quality government and other debt securities as well as short-term securities, as of the date of this Quarterly Report on Form 10-Q, we do not expect anticipated changes in interest rates to have a material effect on our interest rate risk in future reporting periods.
15 unchanged sentences
The functional currency of each foreign subsidiary is generally the local currency.
−Removed: We are exposed to foreign currency exchange risk as the functional currency financial statements of foreign
−Removed: subsidiaries are translated to U.S.
+Added: We are exposed to foreign currency exchange risk as the functional currency financial statements of foreign subsidiaries are translated to U.S.
The assets and liabilities of our foreign subsidiaries having a functional currency other than the U.S.
4 unchanged sentences
dollars by currency movements against the U.S.
−Removed: As of September 30, 2023 and December 31, 2022, we had minimal assets and liabilities denominated in foreign currencies and expect similar levels of foreign currency denomination in the next 12 months.
−Removed: We believe a hypothetical 10% change in foreign exchange rates as of September 30, 2023 would not have a material impact on our business, financial condition, or results of operations.
+Added: As of March 31, 2024 and December 31, 2023, we had minimal assets and liabilities denominated in foreign currencies and expect similar levels of foreign currency denomination in the next 12 months.
+Added: We believe a hypothetical 10% change in foreign exchange rates as of March 31, 2024 would not have a material impact on our business, financial condition, or results of operations.
Geopolitical and macroeconomic events, including the conflict between Ukraine and Russia and related sanctions and the recent and potential future disruptions in access to bank deposits or lending commitments due to bank failures have contributed to supply chain challenges, which we believe have resulted in inflation headwinds, particularly increased logistical costs and raw material prices.
In prior periods, we experienced increased costs to secure certain component parts in our products and to produce our products at our contract manufacturers.
−Removed: However we do not believe that inflation has had a material effect on our business, financial condition or results of operations, other than its impact on the general economy, as our cost of revenue for the three and nine months ended September 30, 2023 was not significantly impacted by the cost increases we experienced.
+Added: However we do not believe that inflation has had a material effect on our business, financial condition or results of operations, other than its impact on the general economy, as our cost of revenue for the three and three months ended March 31, 2024 was not significantly impacted by the cost increases we experienced.
While the effects of geopolitical and macroeconomic events, as well as other inflationary pressures, are highly uncertain, as of the date of this Quarterly Report on Form 10-Q, we do not expect anticipated changes in inflation to have a material effect on our business, financial condition or results of operations for future reporting periods other than the general impacts on companies due to general economic and market conditions.
−Removed: If our costs were to become subject to significant inflationary pressures, we may not be able to fully offset such higher costs through price increases.
+Added: If our costs were to become subject to significant inflationary pressures, we
+Added: may not be able to fully offset such higher costs through price increases.
Our inability or failure to do so could harm our business, financial condition or results of operations.
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.