1 unchanged sentence
Interest Rate Risk
−Removed: As of June 30, 2023, the Company had $79.2 million in total debt principal outstanding.
+Added: As of September 30, 2023, the Company had $79.2 million in total debt principal outstanding.
Note 10 — Financing Arrangements and Long-Term Debt in the Notes to Condensed Consolidated Financial Statements provides additional information regarding the Company’s outstanding debt obligations.
−Removed: All of the Company’s total debt outstanding as of June 30, 2023 was based on a floating base rate (SOFR – Secured Overnight Financing Rate) of interest, which potentially exposes the Company to increases in interest rates.
+Added: All of the Company’s total debt outstanding as of September 30, 2023 was based on a floating base rate (SOFR – Secured Overnight Financing Rate) of interest, which potentially exposes the Company to increases in interest rates.
However, due to our debt to EBITDA ratio of 1.8 times and forecasted rates from external banks, we believe that our total exposure is limited and is considered in our forecasted cash uses.
14 unchanged sentences
In 2022, the impact on revenues from foreign currency transactions was $12.7 million, representing 4.4% of revenues.
−Removed: The amount is not material to our consolidated financial statements.
+Added: The amount is not material to our condensed consolidated financial statements.
Financial instruments that potentially subject the Company to concentration of credit risk consist primarily of short-term, highly liquid investments classified as cash equivalents and accounts receivable and contract assets.
2 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.