2 unchanged sentences
Interest Rate Risk
−Removed: Our cash and cash equivalents primarily consist of cash on hand and highly liquid investments in time deposits and money market funds.
−Removed: Our short-term investments consist of time deposits.
+Added: Our cash and cash equivalents primarily consist of cash on hand and highly liquid investments in money market funds, U.S.
+Added: Treasury bills, and time deposits.
+Added: Our short-term investments consist of U.S.
+Added: Treasury bills and time deposits.
Our investments do not have significant interest rate risk, as the yields on our investments are fixed rates.
−Removed: As of January 31, 2023, we had cash and cash equivalents of $2.5 billion, short-term investments of $250.0 million, and no marketable securities.
+Added: As of January 31, 2024, we had cash and cash equivalents of $3.4 billion and short-term investments of $99.6 million.
+Added: As of January 31, 2023, we had cash and cash equivalents of $2.5 billion and short-term investments of $250.0 million.
The primary objectives of our investment activities are the preservation of capital, the fulfillment of liquidity needs, and the fiduciary control of cash and investments.
We do not enter into investments for trading or speculative purposes.
−Removed: The effect of a hypothetical 100 basis point change in interest rates would not have had a material effect on the fair market value of our portfolio as of January 31, 2023.
+Added: The effect of a hypothetical 100 basis point change in interest rates would not have had a material effect on the fair market value of our portfolio as of January 31, 2024 or January 31, 2023.
We therefore do not expect our results of operations or cash flows to be materially affected by a sudden change in market interest rates.
5 unchanged sentences
A portion of our operating expenses are incurred outside the United States, denominated in foreign currencies, and subject to fluctuations due to changes in foreign currency exchange rates, particularly changes in the British Pound, Australian Dollar, and Euro.
−Removed: The functional currency of our foreign subsidiaries is that country’s local currency.
−Removed: Foreign currency transaction gains and losses are recorded to other income, net.
+Added: The functional currencies of our foreign subsidiaries are generally the country’s local currency.
+Added: Foreign currency transaction gains and losses are recorded to other income (expense), net.
A hypothetical 10% adverse change in the U.S.
−Removed: dollar against other currencies would have resulted in an increase in operating loss of approximately $55.5 million and $36.3 million for the fiscal years ended January 31, 2023 and January 31, 2022, respectively.
+Added: dollar against other currencies would have resulted in an increase in operating loss of approximately $75.8 million, $55.5 million and $36.3 million for the fiscal years ended January 31, 2024, January 31, 2023 and January 31, 2022 respectively.
We have not entered into derivative or hedging transactions, but we may do so in the future if our exposure to foreign currency becomes more significant.
Inflation Rate Risk
−Removed: We do not believe that inflation had a material effect on our business, financial condition, or results of operations during the fiscal year ended January 31, 2023.
+Added: We do not believe that inflation had a material effect on our business, financial condition, or results of operations during the fiscal years ended January 31, 2024, January 31, 2023, or January 31, 2022.
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.
1 unchanged sentence
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.