1 unchanged sentence
Interest Rate Sensitivity
−Removed: We had cash and cash equivalents of $35.7 million as of December 31, 2024, which were held for working capital purposes.
+Added: We had cash and cash equivalents of approximately $15.5 million as of December 31, 2025, which were held for working capital purposes.
We do not enter into investments for trading or speculative purposes.
10 unchanged sentences
The functional currencies of our foreign subsidiaries are the applicable local currencies.
−Removed: Accordingly, the effects of exchange rate fluctuations on the net assets of these operations are accounted for as translation gains or losses in accumulated other comprehensive income (loss) within stockholders’ equity.
+Added: Accordingly, the effects of exchange rate fluctuations on the net assets of these operations are accounted for as translation gains or losses in accumulated other comprehensive income (loss) within stockholders’ equity (deficit).
Foreign currency transaction gains and losses related to long-term intercompany loans that are payable in the foreseeable future are recorded in Other Income (Expense).
2 unchanged sentences
dollars in preparing our consolidated balance sheets.
−Removed: As of December 31, 2024, our German and Australian subsidiaries had net current assets (defined as current assets less current liabilities), subject to foreign currency translation risk, of $2.6 million.
+Added: As of December 31, 2025, our German and Australian subsidiaries had net liabilities (defined as current assets less current liabilities), subject to foreign currency translation risk, of $15.2 million.
An increase of approximately $1.5 million in net current liabilities would result as of December 31 2025, from a hypothetical 10% adverse change in quoted foreign currency exchange rates, primarily due to the Euro.
In addition, a 10% change in the foreign currency exchange rates for the year ended December 31, 2025, would have impacted our net loss by approximately $7.7 million, primarily due to the Euro.
−Removed: Effects of Inflation
+Added: Effects of Inflation and Tariffs
We have experienced a general increase in costs as a result of global inflation, however, we do not believe that inflation and changing prices had a material impact on our results of operations for any periods presented herein.
+Added: We do not believe that currently enacted or proposed tariffs will have a material impact on our operations going forward, but the actual
+Added: impact of potential or unannounced tariffs are not knowable at this time.
Financial Statements and Supplementary Data.
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.