3 unchanged sentences
By policy, we do not enter into investments for trading or speculative purposes.
−Removed: As of June 29, 2024, we had cash, cash equivalents and marketable securities of $261.2 million, which was held primarily in cash, money market funds and highly liquid marketable securities such as U.S.
+Added: As of September 28, 2024, we had cash, cash equivalents and marketable securities of $287.6 million, which was held primarily in cash, money market funds and highly liquid marketable securities such as U.S.
government agency securities and commercial paper.
14 unchanged sentences
We are directly exposed to changes in foreign exchange rates to the extent such changes affect our expenses related to our foreign assets and liabilities with our subsidiaries in China, India and the United Kingdom, whose functional currencies are Chinese Renminbi, or RMB, Indian Rupee, or INR, and British Pounds Sterling, or GBP.
−Removed: Our operating expenses are incurred primarily in the United States, in China associated with our research and development operations that are maintained there, in India for our center of excellence and in the United Kingdom for our international sales and marketing activities.
+Added: Our operating expenses are incurred primarily in the United States and Canada (Canadian Dollar, or CAD), in China associated with our research and development operations that are maintained there, in India for our center of excellence and in the United Kingdom for our international sales and marketing activities.
Our operating expenses are generally denominated in the functional currencies of our subsidiaries in which the operations are located.
The percentages of our operating expenses denominated in the following currencies for the indicated periods were as follows:
−Removed: Six Months Ended
+Added: Nine Months Ended
+Added: September 28,
+Added: 2024 September 30,
USD 86 % 88 %
−Removed: If USD had appreciated or depreciated by 10%, relative to RMB, INR and GBP, our operating expenses for the first six months of 2024 would have decreased or increased by approximately $2.6 million, or approximately 1%.
+Added: If USD had appreciated or depreciated by 10%, relative to RMB, INR, CAD and GBP, our operating expenses for the first nine months of 2024 would have decreased or increased by approximately $5.2 million, or approximately 1%.
Foreign exchange rate fluctuations may also adversely impact our financial position as the assets and liabilities of our foreign operations are translated into USD in preparing our Condensed Consolidated Balance Sheets.
−Removed: The effect of foreign exchange rate fluctuations on our consolidated financial position for the six months ended June 29, 2024 was a net translation loss of $0.1 million.
−Removed: This loss is recognized as an adjustment to stockholders’ equity through “Accumulated other comprehensive loss.”
+Added: The effect of foreign exchange rate fluctuations on our consolidated financial position for the nine months ended September 28, 2024 was a net translation gain of $0.2 million.
+Added: This gain is recognized as an adjustment to stockholders’ equity through “Accumulated other comprehensive income (loss).”
Transaction Exposure
5 unchanged sentences
These foreign exchange forward contracts typically have maturities of approximately one to two months.
−Removed: As of June 29, 2024, we had no forward contracts outstanding.
+Added: As of September 28, 2024, we had no forward contracts outstanding.
Transaction gains and losses on these foreign currency denominated assets and liabilities are recognized each period within “Other expense, net” in our Condensed Consolidated Statements of Comprehensive Income (Loss).
−Removed: During the six months ended June 29, 2024, the net loss we recognized related to these foreign currency denominated assets and liabilities was approximately $0.2 million.
+Added: During the nine months ended September 28, 2024, the net loss we recognized related to these foreign currency denominated assets and liabilities was approximately $0.4 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.