3 unchanged sentences
Interest Rate Risk
−Removed: Our cash and cash equivalents as of December 31, 2024 consisted of $223.8 million.
+Added: Our cash and cash equivalents as of December 31, 2025 were $199.0 million.
Certain of our cash and cash equivalents are interest-earning instruments that carry a degree of interest rate risk.
The goals of our investment policy are liquidity and capital preservation.
−Removed: We do not enter into investments for trading or speculative purposes and have not used any derivative financial instruments to manage our interest rate exposure.
−Removed: We believe that we do not have any material exposure to changes in the fair value of these assets as a result of changes in interest rates due to the short-term nature of our cash and cash equivalents.
+Added: We do not enter into investments for trading or speculative purposes and we do not use derivative financial instruments to manage interest rate risk.
+Added: Due to the short-term nature of these instruments, changes in interest rates would not have a material impact on their fair value.
We are also subject to interest rate exposure on our Concierge Facility and 2025 Revolving Credit Facility.
6 unchanged sentences
As of December 31, 2025, we had no borrowings outstanding under the 2025 Revolving Credit Facility.
−Removed: Based on the amounts outstanding, a 100-basis point increase or decrease in market interest rates over a twelve-month period would not result in a material change to our interest expense.
+Added: Based on the amounts outstanding, a 100-basis point increase or decrease in market interest rates over a twelve-month period would not result in a material change in interest expense.
+Added: The Anywhere Secured Notes, Anywhere Unsecured Notes and Convertible Notes assumed or issued in connection with the Anywhere Merger do not expose us to material interest rate risk because the interest rates are fixed.
+Added: We also do not believe the securitization obligations assumed from Anywhere expose us to material interest rate risk, as the variable rates earned on relocation receivables and advances are highly correlated with the rates incurred on the related borrowings, which largely offsets the exposure.
Foreign Currency Exchange Risk
−Removed: As our operations in India have been limited and we do not maintain a significant balance of foreign currency, we do not currently face significant risk with respect to foreign currency exchange rates.
+Added: We do not have significant exposure to foreign currency risk, nor do we expect to have significant exposure to foreign currency risk in the foreseeable future.
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.