3 unchanged sentences
Interest Rates
−Removed: As of September 30, 2024, we had $187.8 million of variable rate bank debt outstanding under our 2023 Credit Facility.
+Added: As of March 31, 2025, we had $187.8 million of variable rate bank debt outstanding under our 2023 Credit Facility.
Our borrowings bear interest on the outstanding principal amount thereof from the date when made at a rate per annum equal to either:
2 unchanged sentences
Because our debt is subject to interest at a variable rate, our earnings will be affected in future periods by changes in interest rates.
−Removed: If the SOFR were to increase by a hypothetical 100 basis points, or one percentage point, from its September 30, 2024 level, our annual interest expense would increase and cash flow from operations would decrease by $1.9 million based on the outstanding balance of our term loan as of September 30, 2024.
+Added: If the SOFR were to increase or decrease by a hypothetical 100 basis points, or one percentage point, from its March 31, 2025 level, our annual interest expense would increase or decrease, respectively, and cash flow from operations would decrease or increase, respectively, by $1.9 million based on the outstanding balance of our term loan as of March 31, 2025.
Foreign Currency
−Removed: We have foreign currency risks related to our revenue and operating expenses denominated in currencies other than the U.S.
+Added: We have certain foreign currency risks related to our revenue and operating expenses denominated in currencies other than the U.S.
Historically, our revenues have primarily been denominated in U.S.
dollars, and the majority of our current revenues continue to be, and are expected to remain, denominated in U.S.
−Removed: However, we have operations in countries other than the United States, primarily related to our advertising technology & services operations, and expect a portion of our future revenues will be denominated in currencies other than the U.S.
+Added: However, we have operations in countries other than the United States, primarily related to our advertising technology & services operations, and we expect a portion of our future revenues will be denominated in currencies other than the U.S.
dollar, primarily the Euro.
−Removed: The effect of an immediate and hypothetical 10% adverse change in foreign exchange rates on foreign-denominated accounts receivable at September 30, 2024 would not be material to our consolidated results of operations or overall financial condition.
+Added: The effect of an immediate and hypothetical 10% adverse change in foreign exchange rates on foreign-denominated accounts receivable at March 31, 2025 would not be material to our consolidated results of operations or overall financial condition.
Our operating expenses are primarily denominated in U.S.
In addition, certain of our operating expenses are denominated in the currencies of the countries in which our operations are located, primarily Spain.
−Removed: Increases and decreases in our foreign-denominated revenue from movements in foreign exchange rates are partially offset by the corresponding decreases or increases in our foreign-denominated operating expenses.
−Removed: In addition, currency fluctuations or a weakening U.S.
+Added: Currency fluctuations or a weakening U.S.
dollar can increase the amount of operating expense of our international operations, which are primarily related to our advertising technology & services operations.
+Added: Increases and decreases in foreign-denominated revenue from movements in foreign exchange rates are partially offset by corresponding decreases or increases in foreign-denominated operating expenses.
To date, we have not entered into any foreign currency hedging contracts, since exchange rate fluctuations historically have not had a material effect on our operating results and cash flows .
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.