3 unchanged sentences
Interest Rate Risk
−Removed: 2025 Notes and Embedded Derivative
−Removed: Our total fixed-rate borrowings under the 2025 Notes as of both March 31, 2024 and December 31, 2023 were $161.9 million .
+Added: 2025 Convertible Notes and Embedded Derivative
+Added: Our total fixed-rate borrowings under the 2025 Convertible Notes as of both June 30, 2024 and December 31, 2023 were $158.9 million .
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 March 31, 2024 and December 31, 2023, we had no variable-rate borrowings related to the 2025 Notes.
−Removed: The 2025 Notes include an embedded derivative which was marked to a fair value of zero at both March 31, 2024 and December 31, 2023.
+Added: As of June 30, 2024 and December 31, 2023, we had no variable-rate borrowings related to the 2025 Convertible Notes.
+Added: The 2025 Convertible Notes include an embedded derivative which was marked to a fair value of zero at both June 30, 2024 and December 31, 2023.
The fair value inputs to the derivative valuation include dividend yield, term, volatility, stock price, and risk-free rate.
−Removed: Consequently we may incur gains and losses on the derivative as changes occur in the stock price, volatility, and
−Removed: risk-free rate at each reporting period.
−Removed: Additional details regarding our 2025 Notes and the embedded derivative are included in Part 1 Item 1 Note 3 – Fair Value Measurements and Note 4 – Debt in this Quarterly Report on Form 10-Q.
−Removed: Revolving Credit Facility
−Removed: We have been exposed to interest rate risk associated with fluctuations in interest rates on our revolving credit facility.
−Removed: As of March 31, 2024, assuming our revolving credit facility was fully drawn up to the $15.0 million borrowing base, a 1% change in interest rates would result in a $0.2 million change in annualized interest expense.
−Removed: Effective April 18, 2024, the Company exercised its right to voluntarily pay-off and terminate the Credit Agreement.
+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 Convertible Notes and the embedded derivative are included in Part 1 Item 1 Note 3 – Fair Value Measurements and Note 4 – Debt in this Quarterly Report on Form 10-Q.
Inflation Risk
12 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: F or the three months ended March 31, 2024, sales denominated in foreign currencies were approximately 21.2% of total revenue.
+Added: F or the six months ended June 30, 2024, sales denominated in foreign currencies were approximately 17.2% of total revenue.
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.
These foreign currencies primarily consist of the South African Rand, British Pound, Euro, and Australian Dollar .
−Removed: For the three months ended March 31, 2024, a hypothetical 10% change in these foreign currencies would have increased or decreased our revenue by approximately $1.0 million.
+Added: For the six months ended June 30, 2024, a hypothetical 10% change in these foreign currencies would have increased or decreased our revenue by approximately $1.8 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.
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.