6 unchanged sentences
The Company has historically sold a large percentage of its sporting goods products to mass merchandisers and has increasingly attempted to expand sales to specialty retailer and dealer markets and to on-line retailers.
−Removed: In addition to competition for sales into those distribution channels, vendors also must compete in sporting goods with large format sporting goods stores, traditional sporting goods stores and chains, warehouse clubs, discount stores and department stores.
−Removed: Competition from on-line retailers may also impact sales.
+Added: In addition to competition for sales into those distribution channels, vendors also must compete in sporting goods with large format sporting goods stores, traditional sporting goods stores and chains, warehouse clubs, discount stores, department stores and on-line retailers.
Some of the current and potential competitors are larger than Escalade and have substantially greater financial resources that may be devoted to sourcing, promoting and selling their products, and may discount prices more heavily than the Company can afford.
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A major shift in consumer demand away from sporting goods products could also have a material adverse effect on the Company’s business, results of operations and financial condition.
−Removed: The Company ’ s operating results have been adversely impacted by higher inventory levels.
−Removed: In response to supply chain issues and other factors, the Company accelerated its product purchases to meet expected demand.
−Removed: Although the Company endeavors to accurately predict changes in customer demands and consumer spending patterns with respect to the Company’s products, demand for products can change significantly between the time inventory is ordered and the date of sale.
−Removed: While the Company continues to experience product demand in excess of pre-COVID-19 levels, the Company’s inventories at the beginning of 2023 were higher than desired.
−Removed: During 2023, the Company successfully reduced inventory to more normalized levels across most of its categories.
−Removed: The reduction in inventories and increased costs associated with the higher inventory levels, adversely impacted the Company’s operating results in 2023.
+Added: Excess inventory levels have previously and may in the future adversely impact the Company ’ s operating results.
+Added: Although the Company endeavors to accurately predict changes in customer demand and consumer spending patterns with respect to the Company’s products, demand for products can change significantly between the time inventory is ordered and the date of sale.
+Added: The Company has in the past, and may in the future, experienced excess inventory levels which adversely impacted its operating results.
+Added: During 2023 and 2024, the Company successfully reduced inventory to more normalized levels across most of its categories.
The Company may pursue strategic acquisitions, divestitures, or investments and the failure of a strategic transaction to produce anticipated results or the inability to fully integrate an acquired company could have an adverse impact on the Company ’ s business.
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If the Company is not able to hire and retain its executives and key personnel, or if the compensation costs required to attract and retain such individuals becomes more expensive, the Company may suffer adverse consequences to its business, operations, and financial condition.
+Added: The Company is currently transitioning to a new Chief Executive Officer and will soon commence the process of onboarding a new Chief Executive Officer, which may result in some disruption to the Company.
+Added: In August, 2024, the Company announced that Mr.
+Added: intended to retire as the Company’s Chief Executive Officer and President effective upon the commencement of employment by his successor.
+Added: On February 6, 2025, the Company announced that it has hired Mr.
+Added: Armin Boehm as the Company’s new Chief Executive Officer and President effective as of April 1, 2025.
+Added: This transition in executive management may result in some changes and/or disruptions to the Company’s ordinary course of operations.
+Added: Additionally, the process of onboarding a new Chief Executive Officer requires substantial effort and time of the Company’s Board of Directors and of other Company executives, which may divert attention from other matters.
The Company derives a substantial portion of its revenue from a few significant customers and loss of any of these customers could materially affect our results of operations and financial condition.
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Political instability, financial instability of suppliers, merchandise quality issues, trade restrictions, tariffs, currency exchange rates, transport capacity and costs, inflation and other factors relating to foreign trade are beyond the Company’s control.
−Removed: Historically, instability in the political and economic environments of the countries in which the Company or its suppliers obtain products and raw materials has not had a material adverse effect on operations.
−Removed: However, the Company cannot predict the effect that future changes in economic or political conditions in the United States and in such foreign countries may have on operations.
−Removed: In the event of disruptions or delays in supply due to economic or political conditions, such disruptions or delays could adversely affect results of operations unless and until alternative supply arrangements could be made.
−Removed: In addition, products and materials purchased from alternative sources may be of lesser quality or more expensive than the products and materials currently purchased abroad.
Deterioration in relationships with suppliers or in the financial condition of suppliers could adversely affect liquidity, results of operations and financial position.
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Those products must be transported by third parties over large geographic distances.
−Removed: Delays in the shipment or delivery of our products could occur due to work stoppages, port strikes, lack of availability of transportation, and other factors beyond the Company’s control.
−Removed: The Company continues to experience increased shipping costs for products obtained from overseas due to a shortage of available shipping containers.
−Removed: If the Company experiences any significant disruption in its supply chain or sharply rising costs, for any reason, such as the coronavirus pandemic, the Company may be unable to satisfy customer demand for our products resulting in lost sales.
+Added: Delays in the shipment or delivery of our products could occur due to work stoppages, port strikes, lack of availability of transportation, global instability, attacks on shipping vessels and similar high seas disruptions and other factors beyond the Company’s control.
+Added: If the Company experiences any significant disruption in its supply chain or sharply rising costs for any reason, the Company may be unable to satisfy customer demand for our products resulting in lost sales.
Such delays and increased costs could impair our ability to timely and efficiently deliver our products, and could adversely impact our operating results.
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The loss of such intellectual property and related rights could have a material adverse effect on the Company.
−Removed: Breaches of data or technology security could damage the Company ’ s reputation, cause the Company to incur additional expense, expose the Company to litigation, and adversely affect the Company ’ s business.
+Added: Breaches of data or technology security could damage the Company ’ s reputation, cause the Company to incur additional expense, expose the Company to litigation, and adversely affect the Company ’ s business, financial condition and profitability.
A breach of our data or technology security could result in an unauthorized transfer or release of Company proprietary, employee, customer and other Company related information, or the loss of valuable business data or technology, that could cause a disruption in our business.
−Removed: Hackers are increasingly sophisticated and operate large scale and complex cyber security attacks.
+Added: Hackers are increasingly sophisticated and operate large scale and complex cybersecurity attacks.
In the event of such an attack, we may expend significant capital and other resources to protect against, respond to, and/or alleviate problems caused by a breach.
Such an event could also result in unwanted negative media attention, damage to the Company’s reputation, damage to our customers, and result in lost sales and lawsuits.
−Removed: The Company also must comply with increasingly complex regulatory cyber security and privacy standards, which can be costly and negatively impact the Company’s profitability.
+Added: The Company also must comply with increasingly complex regulatory cybersecurity and privacy standards, which may result in significant expense due to increased investment in technology and the development of new operational processes which could negatively impact the Company’s profitability.
+Added: The Company maintains cyber liability insurance;
+Added: however, such insurance may not be sufficient to cover the financial, legal, business or reputational losses that could result from a breach of the Company’s systems.
Unauthorized disclosure of sensitive or confidential customer information could harm the Company ’ s business and its standing with its customers.
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Despite instituted safeguards for the protection of such information, the Company cannot be certain that all of its systems are entirely free from vulnerability to attack.
−Removed: Computer hackers may attempt to penetrate the Company’s network security and, if successful, misappropriate confidential customer or business information.
+Added: If successful, hackers or other malicious parties could misappropriate confidential customer or business information.
In addition, an employee, a contractor or other third party with whom the Company does business may attempt to circumvent the Company’s security measures in order to obtain such information or inadvertently cause a breach involving such information.
Loss of customer or business information could disrupt operations, damage the Company’s reputation, and expose the Company to claims from customers, financial institutions, payment card associations and other persons, any of which could have an adverse effect on the Company’s business, results of operations and financial condition.
−Removed: In addition, compliance with tougher privacy and information security laws and standards may result in significant expense due to increased investment in technology and the development of new operational processes.
−Removed: Cybersecurity breaches or other data security incidents could result in unauthorized access, theft, modification, or destruction of Company assets, including bank accounts, intellectual property, and confidential information, which may adversely affect the Company ’ s business.
+Added: Cybersecurity breaches or other data security incidents could result in unauthorized access, theft, modification, or destruction of Company assets, including bank accounts, intellectual property, and confidential information, which may adversely affect the Company ’ s business and results of operations.
The Company has experienced an increase in cybersecurity threats and attempts to breach the Company’s security networks.
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To the Company’s knowledge, the Company has not experienced a significant cybersecurity breach that had a material impact on the Company’s business or operating results, although there can be no assurance that the Company’s efforts to maintain the security of the Company’s information technology networks and related systems will be effective or that attempted security breaches will not be damaging in the future.
−Removed: The Company maintains cyber liability insurance, however, such insurance may not be sufficient to cover the financial, legal, business or reputational losses that could result from a breach of the Company’s systems.
+Added: Despite the Company’s efforts to prevent a cyber-attack, a successful cyber-attack could persist for an extended period of time before being detected, and, following detection, it could take considerable time for the Company to obtain full and reliable information about the cybersecurity incident and the extent, amount and type of information compromised.
+Added: During the course of an investigation, the Company may not necessarily know the full effects of the incident or how to remediate it, and actions and decisions that are taken or made in an effort to mitigate risk may further increase the costs and other negative consequences of the incident.
The Company ’ s business involves the potential for product recalls, warranty liability, product liability, and other claims against us, which could adversely affect our reputation, earnings and financial condition.
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The Company may be subject to various types of litigation, and our insurance may not be sufficient to cover damages related to those claims.
−Removed: From time-to-time the Company may be involved in lawsuits or other claims arising in the ordinary course of business, including those related to product liability, consumer protection, employment, intellectual property, tort, privacy and data protection, and other matters.
+Added: From time-to-time the Company is involved in lawsuits or other claims arising in the ordinary course of business, including those related to product liability, consumer protection, employment, intellectual property, tort, privacy and data protection, and other matters.
The Company may incur losses relating to claims filed against it, including costs associated with defending against such claims, and there is risk that any such claims or liabilities will exceed its insurance coverage, or affect the Company’s ability to retain adequate liability insurance in the future.
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Tariffs, quotas, customs, import and export restrictions, and other trade barriers;
−Removed: Global events, including acts or threats of war or terrorism, international conflicts, political instability, natural disasters, and public health crises (such as the COVID 19 pandemic);
+Added: Global events, including acts or threats of war or terrorism, international conflicts, political instability, natural disasters, and public health crises;
Sales and repurchases of the Company’s common stock;
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Any failure to pay dividends after we have announced our intention to do so may negatively impact our reputation, investor confidence in us and negatively impact our stock price.
+Added: Furthermore, although the Board has authorized a share repurchase program, we are not obligated to make any purchases under the program, and the Board may discontinue the program at any time.
RISKS OF INTERNATIONAL OPERATIONS
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Such uncertainties could have a material adverse effect on the continuity of the Company’s operations and on the Company’s income and profitability.
+Added: Historically, instability in the political and economic environments of the countries in which the Company or its suppliers obtain products and raw materials has not had a material adverse effect on operations.
+Added: However, the Company cannot predict the effect that future changes in economic or political conditions in the United States and in such foreign countries may have on operations.
+Added: In the event of disruptions or delays in supply due to economic or political conditions, such disruptions or delays could adversely affect results of operations unless and until alternative supply arrangements could be made.
+Added: In addition, products and materials purchased from alternative sources may be of lesser quality or more expensive than the products and materials currently purchased abroad.
The Company ’ s business is subject to risks associated with sourcing and manufacturing outside of the United States, and risks arising from tariffs and/or international trade wars.
−Removed: The Company imports many of its raw materials and finished goods from countries outside of the United States, including but not limited to China, Brazil, Vietnam and Mexico.
−Removed: The Company’s ability to import products in a timely and cost-effective manner may be affected by conditions, such as public health crises, labor disputes, political unrest, and security requirements of the U.S.
−Removed: and other countries that could delay importation of products or require us to locate alternative sources.
Our import operations are subject to complex custom laws, regulations, tax requirements, and trade regulations, such as tariffs set by governments through mutual agreements or bilateral actions.
−Removed: tariffs on goods imported into the U.S., particularly goods from China, have increased the cost of goods purchased by the Company and the ongoing adverse effects of such tariffs potentially could become even more severe.
−Removed: The overall effect of these risks is that our costs may increase, which in turn may result in lower profitability if we are unable to offset such increases through higher prices, and/or that we may suffer a decline in sales if our customers do not accept price increases.
−Removed: The United States, Mexico and Canada have entered into the United States-Mexico-Canada Agreement ("USMCA"), the successor agreement to the North American Free Trade Agreement ("NAFTA") which became effective on July 1, 2020.
−Removed: In January 2020, the United States entered into a "Phase 1" trade agreement with China.
−Removed: The Phase 1 agreement expired December 31, 2021 and has not been extended or replaced.
−Removed: Trade negotiations between the United States and China regarding a potential new trade agreement have not progressed and prospects for a new agreement are highly uncertain.
−Removed: Accordingly, it remains unclear what the U.S.
−Removed: administration or foreign governments, including China, specifically will or will not do with respect to tariffs, the USMCA or other international trade agreements and policies.
+Added: tariffs on goods imported into the U.S., particularly goods from China, result in increased costs of goods purchased by the Company, which in turn may result in lower profitability if we are unable to offset such increases through higher prices, and/or that we may suffer a decline in sales if our customers do not accept price increases.
+Added: Tariffs imposed and/or publicly contemplated by the U.S.
+Added: government in the first quarter of 2025, particularly as to China, Mexico and Canada, create significant uncertainty with respect to future tax and trade regulations and the potential competitive effects of such actions.
+Added: The countries in which our products are manufactured or imported may from time to time impose additional quotas, duties, tariffs or other restrictions on our imports or adversely modify existing restrictions.
+Added: It is unclear what the U.S.
+Added: administration or foreign governments specifically will or will not do with respect to tariffs, tax policies, or other international trade agreements, regulations and policies.
A trade war, other governmental action related to tariffs or international trade agreements, changes in U.S.
social, political, regulatory and economic conditions or in laws and policies governing foreign trade, manufacturing, development and investment in the territories and countries where we currently manufacture and sell products or any resulting negative sentiments towards the United States could materially adversely affect the Company’s business, financial condition, operating results and cash flows.
−Removed: Substantially all of our import operations are subject to customs and tax requirements as well as trade regulations, such as tariffs and quotas set by governments through mutual agreements or bilateral actions.
−Removed: In addition, the countries in which our products are manufactured or imported may from time to time impose additional quotas, duties, tariffs or other restrictions on our imports or adversely modify existing restrictions.
−Removed: Adverse changes in these import costs and restrictions, or our suppliers' failure to comply with customs regulations or similar laws, could harm our business.
−Removed: In this regard, possible changes in U.S.
−Removed: policies and the potential effects of foreign laws and policies create significant uncertainty with respect to future tax and trade regulations.
−Removed: Changes in tax policy or trade regulations, such as the disallowance of tax deductions on imported merchandise or the imposition of new tariffs on imported products, could have a material adverse effect on our business and results of operations.
−Removed: Our operations are also subject to the effects of international trade agreements and regulations that impose requirements that could adversely affect our business, such as setting quotas on products that may be imported from a particular country.
+Added: The Company faces risks associated with our operations in China.
+Added: The Company has key suppliers in China and numerous products sold by the Company are manufactured in China.
+Added: The Company also has a wholly-owned Chinese subsidiary that facilitates the Company’s sourcing operations in China.
+Added: As a result, the Company’s business is subject to risks associated with doing business in China including, but not limited to, political and social conditions, conflicts between Chin and the U.S., existing and future laws, regulations and policies, state ownership of and/or control or influence over certain companies and industries, protection of intellectual property rights and uncertainties associated with enforcing contractual obligations and laws.
+Added: In addition, there are U.S.
+Added: laws, rules and regulations that impose restrictions or requirements that could affect the Company, such as the Uyghur Forced Labor Prevention Act (“UFLPA”) enacted by Congress in 2021 that imposes a presumptive ban on the import of goods to the U.S.
+Added: that are made, wholly or in part, in the Xinjiang Uyghur Autonomous Region (“XUAR”) of China.
+Added: Although the Company believes it is in compliance with the UFLPA and all other U.S.
+Added: and Chinese laws impacting its operations in China, these risks generally associated with doing business in China could adversely affect our business, financial condition and results of operations.
The Company could be adversely affected by changes in currency exchange rates and/or the value of the United States dollar.
3 unchanged sentences
LEGAL, TAX, ACCOUNTING AND REGULATORY RISKS
−Removed: The Company has identified material weaknesses in its internal control over financial reporting.
−Removed: Failure to remediate, improve and maintain the quality of internal control over financial reporting could result in material misstatements in the Company ’ s financial statements and could materially and adversely affect the Company ’ s ability to provide timely and accurate financial information about the Company, which could harm the Company ’ s reputation and share price.
+Added: The Company identified material weaknesses in its internal control over financial reporting as of December 31, 2023.
+Added: Failure to remediate the material weakness remaining as of December 31, 2024, could result in material misstatements in the Company ’ s financial statements and could materially and adversely affect the Company ’ s ability to provide timely and accurate financial information about the Company, which could harm the Company ’ s reputation and share price.
Pursuant to Section 404 of the Sarbanes-Oxley Act of 2002, as amended, the Company’s management is required to report on, and the Company’s independent registered public accounting firm is required to attest to, the effectiveness of the Company’s internal control over financial reporting.
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Management cannot be certain that other deficiencies or material weaknesses will not arise or be identified or that the Company will be able to correct and maintain adequate controls over financial processes and reporting in the future.
−Removed: Management and the Company’s Audit Committee are committed to achieving and maintaining a strong internal control environment and are currently evaluating remediation efforts that will be designed and implemented to enhance the Company’s control environment.
−Removed: The identified material weaknesses in internal control and procedures will only be considered remediated when the relevant controls have operated effectively for a sufficient period of time for management to conclude that they have been remediated.
−Removed: The Company believes that it will be successful in remediating the material weaknesses identified by management, although there can be no assurances in this regard.
+Added: Management and the Company’s Audit Committee are committed to achieving and maintaining a strong internal control environment.
+Added: The Company believes it has successfully remediated all but one of the previously identified material weaknesses.
+Added: The Company is continuing its remediation efforts as to the remaining material weakness and believes that such actions will be successful, although there can be no assurances in this regard.
In addition, in the future, the Company may be unable to identify and remediate additional control deficiencies, including material weaknesses.
1 unchanged sentence
In addition, such failures could result in violations of applicable securities laws, an inability to meet NASDAQ listing requirements, a default in covenants under the Company’s credit facilities, and/or exposure to lawsuits, investigations or other legal proceedings.
−Removed: The Company is subject to risks associated with laws and regulations related to health, safety and environmental protection.
−Removed: Products, and the production and distribution of products, are subject to a variety of laws and regulations relating to health, safety and environmental protection.
−Removed: Laws and regulations relating to health, safety and environmental protection have been passed in several jurisdictions in which the Company operates in the United States and abroad.
+Added: The Company is subject to risks associated with laws and regulations related to health, safety, climate change and environmental, social and governance matters.
+Added: Products, and the production and distribution of products, are subject to a variety of laws and regulations relating to health, safety, climate change and environmental, social and governance matters.
+Added: Laws and regulations relating to health, safety, climate change and environmental, social and governance matters have been passed in several jurisdictions in which the Company operates in the United States and abroad.
Although the Company does not anticipate any material adverse effects based on the nature of operations and the thrust of such laws, there is no assurance such existing laws or future laws will not have a material adverse effect on the Company’s business, results of operations and financial condition.
+Added: In addition, views about these issues are diverse, dynamic and rapidly changing.
+Added: The Company could face potential negative publicity relating to its handling of such matters, as well as potential repercussions arising from the identity of those customers and suppliers with whom the Company does business and the public’s view of such third parties.
New laws, policies, regulations, rulemaking and oversight, as well as changes to those currently in effect, could adversely impact our earnings, cash flows and operations.
22 unchanged sentences
Operating results may be impacted by changes in the economy that influence business and consumer spending.
−Removed: Operating results are directly impacted by the health of the North American and to a lesser extent, European and Asian economies.
−Removed: We cannot predict how robust the economy will be or whether or not it will be sustained.
+Added: Our business is tied to general economic and industry conditions as demand for sporting goods depends largely on the strength of the U.S.
+Added: economy, and to a lesser extent, by the economies of Asia, Mexico, Canada and Europe.
+Added: We cannot predict economic downturns or how robust the economy may be nor whether such downturns or growth will be sustained.
If economic recovery is slow to occur, or if the economy experiences a prolonged period of decelerating or negative growth, the Company’s results of operations may be negatively impacted.
In general, the Company’s sales depend on discretionary spending by consumers.
−Removed: Business and financial performance may be adversely affected by current and future economic conditions, including unemployment levels, energy costs, interest rates, recession, inflation, the impact of natural disasters and terrorist activities, public health crisis, and other matters that influence business and consumer spending.
+Added: Business and financial performance may be adversely affected by current and future economic conditions, including unemployment levels, energy costs, interest rates, recession, inflation, the impact of natural disasters and terrorist activities, public health crisis, consumer confidence, the availability and cost of credit, bankruptcies or financial difficulties of our customers and suppliers, and other matters that influence business and consumer spending.
+Added: These factors have had and could continue to have a substantial impact on our business.
Fluctuation in economic conditions could prevent the Company from accurately forecasting demand for its products which could adversely affect its operating results or market share.
−Removed: Fluctuation in economic conditions and market instability in the United States and globally makes it difficult for the Company, customers and suppliers to accurately forecast future product demand trends, which could cause the Company to produce and/or purchase excess products that can increase inventory carrying costs and result in obsolete inventory.
+Added: Fluctuation in economic conditions and market instability in the United States and globally makes it difficult for the Company, customers and suppliers to accurately forecast future product demand trends, which could cause the Company to produce and/or purchase excess products that can increase inventory carrying costs and/or result in obsolete inventory.
Alternatively, this forecasting difficulty could cause a shortage of products, or materials used in products, that could result in an inability to satisfy demand for products and a loss of market share.
−Removed: Failure to sustain a continuing economic recovery in the United States and elsewhere could have a substantial adverse effect on our business.
−Removed: Our business is tied to general economic and industry conditions as demand for sporting goods depends largely on the strength of the economy, employment levels, consumer confidence levels and the availability and cost of credit.
−Removed: These factors have had and could continue to have a substantial impact on our business.
−Removed: Adverse global economic conditions could also cause our customers and suppliers to experience severe economic constraints in the future, including bankruptcy, which could have a material adverse impact on our financial position and results of operations.
Quarterly operating results are subject to fluctuation.
19 unchanged sentences
business disruptions;
−Removed: disruptions or delays in our supply chain, including potential disruptions or delays arising from political unrest, war, labor strikes, natural disasters, and public heath crises such as the coronavirus pandemic;
+Added: disruptions or delays in our supply chain, including potential disruptions or delays arising from political unrest, war, labor strikes, natural disasters, and public health crises such as the coronavirus pandemic;
increased costs of freight and transportation to meet delivery deadlines;
6 unchanged sentences
and other factors referenced or incorporated by reference in this Form 10-K and any other filings with the Securities and Exchange Commission.
−Removed: The Company ’ s operating results during the peak of the COVID-19 pandemic may not be indicative of operating results going forward.
−Removed: During the peak of the COVID-19 pandemic in fiscal years 2020, 2021 and 2022, demand for the Company’s products increased substantially compared to pre-pandemic sales.
−Removed: While the Company’s financial results exceeded historical levels in many respects, such gains were offset to some degree by the adverse effects of the pandemic on the Company in other areas, such as higher supply chain costs and inventory levels, and by the adverse impacts on many of the Company’s customers and suppliers.
−Removed: Consumer demand for the Company’s products decreased in 2023, but remained above pre-COVID-19 levels and market share has increased in several key categories.
−Removed: As a result of these pandemic related factors, the comparability of year-over-year and quarterly performance going forward may not be indicative of future performance.
−Removed: The ultimate extent of the effects of the COVID-19 pandemic on the Company remains uncertain and will depend on future developments.
Terrorist attacks, acts of war, natural disasters, and public health crises may seriously harm the Company ’ s business.
4 unchanged sentences
In addition, any natural disaster or other serious disruption to one of the Company’s manufacturing or distribution sites due to fire, tornado, earthquake or other natural disasters in countries where the Company conducts business, or political unrest, war, labor strikes, work stoppages or public health crises, such as outbreaks of the coronavirus in countries where our suppliers are located could result in the disruption of the Company’s shipments and supply chain of products and raw materials.
−Removed: Although we obtained product shipments from China and other countries during the peak of COVID-19 pandemic, product shipments from China and/or other countries may be delayed in the future.
Any significant disruption of the Company’s supply chain, manufacturing operations, and/or product shipments resulting from similar events on a large scale or over a prolonged period could cause significant delays until the Company would be able to resume normal operations or shift to other third party suppliers, if needed.
2 unchanged sentences
The COVID-19 pandemic created significant public health concerns and economic disruption, which materially impacted the Company, our customers, suppliers and sales channels.
−Removed: We cannot predict whether the coronavirus will resurface or whether future pandemics or other public health crises will emerge.
+Added: We cannot predict whether future pandemics or other public health crises will emerge.
Nor can we predict the impact of such occurrences nor whether and to what degree any disruptions might be caused thereby.
9 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.