5 unchanged sentences
2025 Notes and Embedded Derivative
−Removed: Our total fixed-rate borrowings under the 2025 Notes as of both June 30, 2022 and December 31, 2021 were $161.9 million.
−Removed: 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.
−Removed: As of both June 30, 2022 and December 31, 2021, we had no variable-rate borrowings.
−Removed: The 2025 Notes include an embedded derivative which was marked to fair value at June 30, 2022 and December 31, 2021 of $0.02 million and $0.9 million, respectively.
+Added: Our total fixed-rate borrowings under the 2025 Notes as of both September 30, 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 carrying values that we report for these senior notes on our consolidated financial statements.
+Added: The 2025 Notes include an embedded derivative which was marked to fair value at September 30, 2022 and December 31, 2021 of $0.02 million and $0.9 million, respectively.
The fair value inputs to the derivative valuation include dividend yield, term, volatility, stock price, and risk-free rate.
3 unchanged sentences
Debt in this Quarterly Report on Form 10-Q.
+Added: Revolving Credit Facility
+Added: We are exposed to interest rate risk associated with fluctuations in interest rates on our revolving credit facility.
+Added: As of September 30, 2022, assuming our revolving credit facility was fully drawn up to the $19.1 million borrowing base, a 1% increase in interest rates would result in a $0.2 million change in annualized interest expense.
Currency Risk
8 unchanged sentences
Such economic exposure to currency fluctuat ions is difficult to measure or predict because our sales are also influenced by many other factors.
−Removed: For the three and six months ended June 30, 2022, sales denominated in foreign currencies were approximately 14.6% and 14.4% of total revenue.
+Added: For the three and nine months ended September 30, 2022, sales denominated in foreign currencies were approximately 22.0% and 17.2% of total revenu e.
Our expenses are generally denominated in the currencies in which our operations are located, which are primarily in the U.S.
2 unchanged sentences
These foreign functional currencies consist of the pound sterling, Euro, and Australian Dollar (collectively, the “Foreign Functional Cu rrencies”).
−Removed: For the three and six months ended June 30, 2022, a hy pothetical 10% change in Foreign Functional Currency exchange rates would have increased or decreased our revenue by approximately $0.9 million and $1.8 million, respectively.
−Removed: Act ual 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: With the completion of Ctrack South Africa divestiture in July 2021, our foreign currency transaction risk is expected to decrease.
+Added: For the three and nine months ended September 30, 2022, a hy pothetical 10% change in Foreign Functional Currency exchange rates would have increased or decreased our revenue by approxi mately $1.5 million and $3.3 million, respectively.
+Added: 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.
Foreign Currency Translation Risk
4 unchanged sentences
Dollars and report in our consolidated financial statements for, and as of the end of, each reporting period.
−Removed: 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.