3 unchanged sentences
These risks primarily relate to interest rates fluctuations.
−Removed: We had cash and cash equivalents of $89.7 million as of March 31, 2025, which include bank deposits and money market funds.
−Removed: We had marketable investment securities of $185.5 million as of March 31, 2025, which include U.S.
+Added: We had cash and cash equivalents of $82.2 million as of June 30, 2025, which include bank deposits and money market funds.
+Added: We had marketable investment securities of $193.7 million as of June 30, 2025, which
government securities.
Due to the nature of these instruments, we believe that we have no material exposure to interest rate risk.
−Removed: We had long-term debt of $8.9 million as of March 31, 2025, consisting of an outstanding term loan which bears interest at a floating rate that fluctuates with the WSJ Prime Rate, subject to an interest rate floor of 6.00%.
+Added: We had a term debt of $10.0 million as of June 30, 2025, consisting of an outstanding term loan which bears interest at a floating rate that fluctuates with the WSJ Prime Rate, subject to an interest rate floor of 6.00%.
A hypothetical 10% change in interest rates during any of the periods presented would not have had a material impact on our financial statements.
5 unchanged sentences
Equity Price Risk
−Removed: As of March 31, 2025, we had equity securities with a total fair value of $2.1 million.
−Removed: A hypothetical 10% decrease in the market price of our trading securities as of March 31, 2025 would decrease the fair value by approximately $0.2 million.
+Added: As of June 30, 2025, we had equity securities with a total fair value of $3.3 million.
+Added: A hypothetical 10% decrease in the market price of our trading securities as of June 30, 2025 would decrease the fair value by approximately $0.3 million.
These securities are subject to a wide variety and number of market-related risks that could substantially reduce or increase the fair value of our holdings.
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.