4 unchanged sentences
2029 Senior Secured Notes
−Removed: The Company’s only fixed-rate borrowings, made under the 2029 Senior Secured Notes, had an outstanding principal balance of $40.9 million as of September 30, 2025.
+Added: The Company’s only fixed-rate borrowings, made under the 2029 Senior Secured Notes, had an outstanding principal balance of $48.9 million as of March 31, 2026.
We record all 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 September 30, 2025 and December 31, 2024, we had no variable-rate borrowings.
+Added: As of March 31, 2026 and December 31, 2025, we had no variable-rate borrowings.
Working Capital Facility
−Removed: We have been exposed to interest rate risk associated with fluctuations in interest rates on our Working Capital Facility.
−Removed: As of September 30, 2025, assuming our Working Capital 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.
+Added: We are exposed to interest rate risk associated with fluctuations in interest rates on our Working Capital Facility.
+Added: As of March 31, 2026, assuming our Working Capital Facility was fully drawn up to the $15.0 million maximum, a 1% change in interest rates would result in a $0.2 million change in annualized interest expense.
Inflation Risk
11 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 nine months ended September 30, 2025, sales denominated in foreign currencies were approximately 0.3% of total revenue.
+Added: F or the three months ended March 31, 2026, sales denominated in foreign currencies were approximately 2.0% 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, Canadian Dollar, and Australian Dollar.
−Removed: For the nine months ended September 30, 2025, a hypothetical 10% change in these foreign currencies would have increased or decreased our revenue by less than $0.1 million .
+Added: For the three months ended March 31, 2026, a hypothetical 10% change in these foreign currencies would have increased or decreased our revenue by less than $0.1 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.