3 unchanged sentences
These risks primarily relate to interest rate fluctuations.
−Removed: As of March 31, 2026, we had cash and cash equivalents of $63.8 million, consisting of bank deposits and money market funds.
+Added: As of June 30, 2026, we had cash and cash equivalents of $62.1 million, consisting of bank deposits and money market funds.
We had marketable investment securities of $204.7 million, primarily invested in U.S.
1 unchanged sentence
Due to the nature of these instruments, we believe our exposure to interest rate risk is not material.
−Removed: As of March 31, 2026, we had outstanding term debt of $10.1 million under a term loan that bears interest at a floating rate based on the WSJ Prime Rate, subject to an interest rate floor of 6.00%, which exposes us to interest rate risk.
+Added: As of June 30, 2026, we had outstanding term debt of $10.1 million under a term loan that bears interest at a floating rate based on the WSJ Prime Rate, subject to an interest rate floor of 6.00%, which exposes us to interest rate risk.
A hypothetical 10% change in interest rates during any of the periods presented would not have had a material impact on our financial statements.
1 unchanged sentence
We are exposed to foreign currency exchange rate risk primarily related to a loan receivable and certain equity securities denominated in Swedish Krona (“SEK”).
−Removed: As of March 31, 2026, this loan had a principal balance of SEK 20 million and bears interest at a rate of 2.00% plus the three-month Stockholm Interbank Offered Rate.
+Added: As of June 30, 2026, this loan had a principal balance of SEK 20 million and bears interest at a rate of 2.00% plus the three-month Stockholm Interbank Offered Rate.
We do not currently hedge our foreign currency exposure.
7 unchanged sentences
Equity Price Risk
−Removed: As of March 31, 2026, we held equity securities with a total fair value of $8.1 million.
+Added: As of June 30, 2026, we held equity securities with a total fair value of $6.8 million.
A hypothetical 10% decrease in the market price of these securities would result in an approximate $0.7 million decrease in fair value.
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.