6 unchanged sentences
We do not enter into investments for trading or speculative purposes.
−Removed: Due to the short-term nature of these instruments, we do not believe that
−Removed: an immediate 10% increase or decrease in interest rates would have a material effect on the fair market value of our investment portfolio.
+Added: Due to the short-term nature of these instruments, we do not believe that an immediate 10% increase or decrease in interest rates would have a material effect on the fair value of our investment portfolio.
Declines in interest rates, however, would reduce our future interest income.
+Added: In July 2021, we issued $575.0 million aggregate principal amount of 4.125% Senior Notes due 2029 in a private placement.
+Added: The fair value of the Senior Notes is subject to market risk.
+Added: In addition, the fair market value of the Senior Notes is exposed to interest rate risk.
+Added: Generally, the fair market value of our fixed interest rate Senior Notes will increase as interest rates fall and decrease as interest rates rise.
+Added: The interest rate and market value changes affect the fair value of the Senior Notes, but do not impact our financial position, cash flows or results of operations due to the fixed nature of the debt obligation.
+Added: Additionally, we carry the Senior Notes at face value less unamortized debt issuance cost on our balance sheet, and we present the fair value for required disclosure purposes only.
Foreign Currency Risk
2 unchanged sentences
For business conducted outside of the United States, we may have both revenue and costs incurred in the local currency of the subsidiary, creating a partial natural hedge.
−Removed: Changes to exchange rates therefore have not had a significant impact on our operating results to date;
+Added: Changes to exchange rates therefore have not had a material impact on our operating results to date;
however, we will continue to reassess our foreign exchange exposure as we continue to grow our business globally.
1 unchanged sentence
An immediate 10% increase or decrease in the relative value of the U.S.
−Removed: dollar to other currencies could have a material effect on our net loss.
−Removed: As a component of other income, net, we recognized a foreign currency transaction gain of $7.7 million and a foreign currency transaction loss of $2.2 million in the years ended April 30, 2021 and April 30, 2020, respectively.
+Added: dollar to other currencies could have a material effect on our revenue, operating expenses, and net loss.
+Added: As a component of other income, net, we recognized a foreign currency transaction loss of $3.6 million and a foreign currency transaction gain of $7.7 million for the years ended April 30, 2022 and April 30, 2021, respectively.
As of April 30, 2022, our cash, cash equivalents, and restricted cash were primarily denominated in U.S.
1 unchanged sentence
A 10% increase or decrease in current exchange rates would have an impact of approximately $20.2 million on our cash, cash equivalents, and restricted cash balances.
−Removed: Inflation Risk
−Removed: We do not believe that inflation has had a material effect on our business, financial condition or results of operations.
+Added: T a b l e o f C o ntents
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.