2 unchanged sentences
We are exposed to market risk related to changes in interest rates related primarily to our cash, cash equivalents and marketable securities.
−Removed: We had cash and cash equivalents of $214.2 million as of December 31, 2024, which consisted primarily of bank deposits, money market funds, and marketable securities.
+Added: We had cash and cash equivalents of $249.7 million as of December 31, 2025, which consisted primarily of bank deposits, money market funds and U.S.
+Added: government treasury bills with an original maturity of three months or less.
+Added: As of December 31, 2025 , we had short-term marketable securities of $654.7 million.
Our marketable securities are held in U.S.
government treasury bills.
−Removed: As of December 31, 2024 , we had short-term marketable securities of $549.2 million.
Our primary exposure to market risk is interest income sensitivity, which is affected by changes in the general level of the interest rates in the United States.
12 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.