5 unchanged sentences
However, there was zero outstanding balance on the Revolving Facility as of December 31, 2023.
−Removed: During the year ended December 31, 2021, the Company repaid the outstanding balance on the 2021 Term Loan as discussed in the consolidated financial statements included elsewhere in this Form 10-K, using net proceeds received on the closing of the initial public offering.
+Added: During the year ended December 31, 2021, the Company repaid the outstanding balance on the 2021 Term Loan as discussed in the consolidated financial statements included elsewhere in this Form 10-K, using net proceeds received on the closing of the IPO.
Foreign Currency Exchange Risk
6 unchanged sentences
The total notional values of our forward exchange contracts were $121.0 million and $97.4 million as of December 31, 2023 and December 31, 2022, respectively.
−Removed: The derivatives on the forward exchange contracts resulted in an unrealized gain of $6.6 million as of December 31, 2022, and we estimate that a 10 percent strengthening or weakening of the U.S.
+Added: The derivatives on the forward exchange contracts resulted in an unrealized loss of $0.9 million as of December 31, 2023, and we estimate that a 10 percent strengthening or weakening of the U.S.
dollar would have resulted in an approximately $6.2 million gain or loss.
6 unchanged sentences
Inflation generally affects us by increasing our costs of goods and labor costs.
−Removed: As of December 31, 2022, we have seen significant inflation caused by COVID-19 related global supply chain disruptions which put pressure on our costs and margins.
−Removed: More specifically, there was a significant escalation of transportation costs, primarily ocean freight costs due to shipping and ports constraints and in domestic logistics.
−Removed: It is possible that inflation could affect our consumers' and customers' interest in our products but the potential impact is not currently known.
+Added: In the three years ending December 31, 2023, we experienced significant inflation on transportation costs compared to 2020 levels, which impacted our costs and margins significantly.
+Added: While these transportation costs largely returned to historic levels during 2023, we have again seen instability in pricing due to geopolitical disruption of shipping lanes during 2024.
+Added: We source a large amount of our finished goods from international countries, which exposes us to international supply chain inflation, particularly ocean freight.
+Added: Inflation rates varies by country and can impact our costs of operating in those countries.
We are exposed to concentration of credit risk from our major customers.
4 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.