5 unchanged sentences
This risk arises because we use different currencies to recognize revenue and pay operating expenses.
−Removed: We derived 100% and 61% of our revenue for the three months ended March 31, 2025 and 2024, respectively, from operations outside of the United States.
+Added: We derived minimal and 34% of our revenue for the three and six months ended June 30, 2025, respectively, and 1% and 44% of our revenue for the three and six months ended June 30, 2024, respectively, from operations outside of the United States.
Our strategy for managing foreign currency risk relies on efforts to negotiate customer contracts to receive payment in the same currency used to pay expenses or, in some cases, we have historically entered into foreign currency exchange rate fluctuation provisions in our contracts with our customers.
1 unchanged sentence
Our reporting and functional currency is the United Stated dollar (“U.S.
−Removed: We are primarily exposed to movements in foreign currencies, predominately in the Indian rupee, British pound, and the Philippine peso, which are the local currencies of our foreign subsidiaries whose functional currency is also the US dollar.
+Added: We are primarily exposed to movements in foreign currencies, predominately in the Indian rupee and British pound, which are the local currencies of our foreign subsidiaries whose functional currency is also the US dollar.
We are also exposed to movements in the Japanese Yen.
2 unchanged sentences
dollars for purposes of reporting our consolidated financial results.
−Removed: For the three months ended March 31, 2025 and 2024, the gain on foreign exchange transactions was not material.
+Added: For the three and six months ended June 30, 2025 and 2024, the gain and losses on foreign exchange transactions were not material.
Our cash accounts in financial institutions may at times exceed the Federal Depository Insurance coverage of $250,000.
5 unchanged sentences
Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote.
−Removed: The allowance for credit losses was $0.4 million as of March 31, 2025 and December 31, 2024.
−Removed: As of March 31, 2025, one customer accounted for approximately 95% of our total accounts receivable.
+Added: The allowance for credit losses was $0.4 million as of June 30, 2025 and December 31, 2024.
+Added: As of June 30, 2025, two customers, one a related party, accounted for approximately 58% and 30% of the Company's accounts receivable.
As of December 31, 2024, one customer accounted for approximately 98% of our total accounts receivable.
−Removed: Historically, a relatively small number of customers have accounted for a significant portion of our revenue.
−Removed: For the three months ended March 31, 2025, one customer accounted for approximately 95% of our revenue.
−Removed: For the three months ended March 31, 2024, two customers, both related parties, accounted for approximately 100% of our revenue.
+Added: Historically, a relatively small number of customers have accounted for a significant portion of the Company’s revenue.
+Added: The following table presents the Company's significant customers:
+Added: Three Months Ended June 30,
+Added: Six Months Ended June 30,
+Added: (Amounts in thousands)
+Added: Customer A (See Note 15)
+Added: Customer B (See Note 15)
+Added: Customer C (See Note 15)
+Added: * Defined as less than 10% of the Company’s revenue for the period
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.