5 unchanged sentences
Our business and results of operations are subject to numerous risks, uncertainties, and other factors that you should be aware of.
−Removed: You should carefully review and consider the information regarding certain factors that could materially affect our business, financial condition or future results set forth below and in Part I, Item 1A of our Annual Report on Form 10-K for the fiscal year ended December 31, 2024 under the heading “Risk Factors”.
−Removed: There have been no material changes from the risk factors disclosed in our 2024 Annual Report on Form 10-K other than as set forth below.
+Added: You should carefully review and consider the information regarding certain factors that could materially affect our business, financial condition or future results set forth in Part II, Item 1A of our Quarterly Report on Form 10-Q for the quarter ended June 30, 2025 and in Part I, Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2024 under the heading “Risk Factors”.
+Added: Except for the risk factor disclosed in our Quarterly Report on Form 10-Q for the quarter ended June 30, 2025, there have been no material changes from the risk factors disclosed in our 2024 Annual Report on Form 10-K.
The risks, uncertainties and other factors described in the risk factors are not the only ones facing our company.
1 unchanged sentence
Any of the risks, uncertainties and other factors could have a materially adverse effect on our business, financial condition, results of operations, cash flows or product market share and could cause the trading price of our common stock to decline substantially.
−Removed: Changes in U.S.
−Removed: trade policy and the impact of tariffs may have a material adverse effect on our business and results of operations.
−Removed: Our business, financial condition and results of operations may be adversely affected by uncertainty and changes in U.S.
−Removed: trade policies, including tariffs, trade agreements or other trade restrictions imposed by the U.S.
−Removed: or other governments.
−Removed: For example, the U.S.
−Removed: government has recently announced or implemented changes to its trade policy, including increasing tariffs on imports, in some cases significantly.
−Removed: Several of these recent tariff actions have been followed by announcements of limited exemptions, temporary pauses, and retaliatory measures against certain U.S.
−Removed: As of July 1, 2025, approximately 25% of our business is exposed to U.
−Removed: tariffs due to our manufacturing in Thailand.
−Removed: On July 31, the White House announced a 19% tariff on imports from Thailand.
−Removed: The imposition of or increase in tariffs applicable to us, including reciprocal tariffs, will increase the cost of importing our products.
−Removed: This would in turn increase our costs unless we are able to implement actions to offset these costs, such as leveraging tariff exemptions where possible, taking actions to optimize our supply chain or source from alternative suppliers, or increasing our prices.
−Removed: While we have developed a pass-through strategy intended to protect margins, the amount of Thailand-origin components required to obtain a valid certificate of origin remains uncertain, particularly in light of recent U.S.
−Removed: enforcement efforts aimed at preventing transshipment.
−Removed: In the event our products are determined to be transshipments, they would be subject to higher tariffs.
−Removed: There can be no assurance that our efforts will be successful or that we will be able to successfully offset or mitigate the resulting increase in our costs.
−Removed: If we are unable to pass on any cost increases or if supply and demand conditions will not support price increases for our products, our revenue and gross margin would be negatively impacted.
−Removed: In addition, retaliatory actions by other countries in response to U.S.
−Removed: trade policy could increase prices for our products and could negatively affect demand for our products.
−Removed: Tariffs or other trade restrictions may also lead to increased costs for our customers, declining consumer confidence, significant inflation and diminished expectations for the economy, as well as reduced demand for our products.
−Removed: Such conditions could have a material adverse impact on our business, results of operations and cash flows.
−Removed: In addition, tariff actions by the U.S.
−Removed: and retaliatory actions by other countries have caused and may in the future cause significant disruption and volatility in the financial markets, which could adversely affect the availability, terms and cost of capital, which in turn could increase our costs of capital and limit our access to external financing sources.
−Removed: Changes in tariffs and trade restrictions can be announced with little or no advance notice.
−Removed: The adoption and expansion of tariffs or other trade restrictions, increasing trade tensions, or other changes in governmental policies related to tariffs, trade agreements or trade policies are difficult to predict, which makes risks difficult to anticipate and mitigate.
−Removed: If we are unable to navigate further changes in U.S.
−Removed: or international trade policy, it could have a material adverse impact on our business, financial condition and results of operations.
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.