3 unchanged sentences
The ongoing COVID-19 pandemic has increased the volatility of global financial markets, which may increase our foreign currency exchange risk.
−Removed: Foreign Currency Exchange Risk
−Removed: The Company’s results of operations and cash flows are subject to fluctuations due to changes in foreign currency exchange rates.
−Removed: A majority of the Company’s revenue is denominated in U.S.
−Removed: dollars, and therefore, our revenue is not directly
−Removed: subject to foreign currency risk.
+Added: Interest Rate Risk
+Added: 2025 Notes and Embedded Derivative
+Added: Our total fixed-rate borrowings under the 2025 Notes as of both March 31, 2022 and December 31, 2021 were $161.9 million.
+Added: We record all of our fixed-rate borrowings at amortized cost and therefore, any changes in interest rates do not impact the values that we report for these senior notes on our consolidated financial statements.
+Added: As of both March 31, 2022 and December 31, 2021, we had no variable-rate borrowings.
+Added: The 2025 Notes include an embedded derivative which was marked to fair value at March 31, 2022 and December 31, 2021 of $0.3 million and $0.9 million, respectively.
+Added: The fair value inputs to the derivative valuation include dividend yield, term, volatility, stock price, and risk-free rate.
+Added: Consequently we may incur gains and losses on the derivative as changes occur in the stock price, volatility, and risk-free rate at each reporting period.
+Added: Additional details regarding our 2025 Notes and the embedded derivative are included in Item I Part 1 Note 3.
+Added: Fair Value Measurement of Assets and Liabilities and Note 4.
+Added: Debt in this Quarterly Report on Form 10-Q.
+Added: Currency Risk
+Added: Foreign Currency Transaction Risk
+Added: Our results of operations and cash flows are subject to fluctuations due to changes in foreign currency exchange rates.
+Added: A majority of our revenue is denominated in U.S.
+Added: Dollars, and therefore, our revenue is not directly subject to foreign currency risk.
However, as we have operations in foreign countries, primarily in Europe, a stronger U.S.
3 unchanged sentences
Such economic exposure to currency fluctuations is difficult to measure or predict because our sales are also influenced by many other factors.
−Removed: For the nine months ended September 30, 2021, sales denominated in foreign currencies were approximately 20.4% of total revenue.
−Removed: The Company’s expenses are generally denominated in the currencies in which our operations are located, which is primarily in the U.S.
+Added: For the three months ended March 31, 2022, sales denominated in foreign currencies were approximately 14.2% of total revenue.
+Added: Our expenses are generally denominated in the currencies in which our operations are located, which are primarily in the U.S.
and to a lesser extent in Europe.
−Removed: The Company’s results of operations and cash flows are, therefore, subject to fluctuations due to changes in foreign currency exchange rates and may be adversely affected in the future due to changes in foreign exchange rates.
−Removed: These foreign functional currencies consist of the South African Rand, pound sterling, Euro, and Australian Dollar (collectively, the “Foreign Functional Currencies”).
−Removed: For the nine months ended September 30, 2021, a hypothetical 10% change in Foreign Functional Currency exchange rates would have increased or decreased our revenue by approximately $3.8 million.
+Added: Our results of operations and cash flows are, therefore, subject to fluctuations due to changes in foreign currency exchange rates and may be adversely affected in the future due to changes in foreign exchange rates.
+Added: These foreign functional currencies consist of the pound sterling, Euro, and Australian Dollar (collectively, the “Foreign Functional Currencies”).
+Added: For the three months ended March 31, 2022, a hypothetical 10% change in Foreign Functional Currency exchange rates would have increased or decreased our revenue by approximately $0.9 million.
Actual gains and losses in the future may differ materially from the hypothetical gains and losses discussed above based on changes in the timing and amount of foreign currency exchange rate movements.
−Removed: Additionally, with the completion of Ctrack South Africa operations divestiture, our foreign exchange risk is expected to decrease.
−Removed: Net foreign currency translation losses of $1.9 million were recorded for the nine months ended September 30, 2021.
+Added: With the completion of Ctrack South Africa divestiture in July 2021, our foreign currency transaction risk is expected to decrease.
+Added: Foreign Currency Translation Risk
+Added: Fluctuations in foreign currencies impact the amount of total assets, liabilities, earnings and cash flows that we report for our foreign subsidiaries upon the translation of these amounts into U.S.
+Added: Dollars for, and as of the end of, each reporting period.
+Added: In particular, the strengthening of the U.S.
+Added: Dollar generally will reduce the reported amount of our foreign-denominated cash, cash equivalents, marketable securities, total revenues and total expense that we translate into U.S.
+Added: Dollars and report in our consolidated financial statements for, and as of the end of, each reporting period.
+Added: With the completion of the Ctrack South Africa divestiture in July 2021, our foreign currency translation risk is expected to decrease.
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.