34 unchanged sentences
Three Months Ended
−Removed: Six Months Ended
−Removed: June 27, 2020
−Removed: June 27, 2020
+Added: Nine Months Ended
+Added: October 2, 2021
+Added: September 26, 2020
+Added: October 2, 2021
+Added: September 26, 2020
Total revenues
7 unchanged sentences
Other income, net
−Removed: Income (loss) from operations before provision for
+Added: Loss from operations before provision for
Provision for income taxes
−Removed: Net income (loss)
−Removed: The following comparisons are between the three months ended July 3, 2021 and June 27, 2020:
+Added: The following comparisons are between the three months ended October 2, 2021 and September 26, 2020:
Three Months Ended
1 unchanged sentence
(in thousands)
−Removed: June 27, 2020
+Added: October 2, 2021
+Added: September 26, 2020
Total revenues
19 unchanged sentences
General and administrative expenses increased by $0.6 million, or 33.8%, from $1.7 million to $2.2 million.
−Removed: The increase in spending was primarily attributable to an increase in legal and consulting expenses associated with acquisition of the PASCAL Business and execution of the Exclusive Distribution Agreement with Topcon.
+Added: The increase in spending was primarily attributable to higher personnel costs and an increase in legal and consulting expenses associated with acquisition of the PASCAL Business and execution of the Exclusive Distribution Agreement with Topcon.
Other Income (Expense), Net.
−Removed: Other income, net was $2.5 million, compared to $9 thousand.
+Added: Other income, net was zero, compared to $0.1 million.
Other income (expense), net, consisted primarily of interest income or expense and foreign currency gain or loss.
−Removed: We recognized a $2.5 million gain on PPP Loan forgiveness as other income during the quarter ended July 3, 2021.
Income Taxes.
−Removed: We recorded an income tax provision of $8 thousand and $5 thousand, respectively.
−Removed: The following comparisons are between the six months ended July 3, 2021 and June 27, 2020:
−Removed: Six Months Ended
−Removed: Six Months Ended
+Added: We recorded an income tax provision of $8 thousand for both quarters.
+Added: The following comparisons are between the nine months ended October 2, 2021 and September 26, 2020:
+Added: Nine Months Ended
+Added: Nine Months Ended
(in thousands)
−Removed: June 27, 2020
+Added: October 2, 2021
+Added: September 26, 2020
Total revenues
21 unchanged sentences
Other Income (Expense), Net.
−Removed: Other income, net was $2.4 million, compared to $18 thousand.
+Added: Other income, net was $2.4 million, compared to $0.2 million.
Other income (expense), net, consisted primarily of interest income or expense and foreign currency gain or loss.
−Removed: We recognized a $2.5 million gain on PPP Loan forgiveness as other income during the six months ended July 3, 2021.
+Added: We recognized a $2.5 million gain on PPP Loan forgiveness as other income during the nine months ended October 2, 2021.
Income Taxes.
3 unchanged sentences
In addition, liquidity includes the ability to obtain appropriate financing or to raise capital.
−Removed: As of July 3, 2021, we had cash and cash equivalents of $26.3 million and working capital of $32.8 million compared to cash and cash equivalents of $11.6 million and working capital of $16.7 million as of January 2, 2021.
−Removed: Net cash provided by operating activities was $10.6 million in the six months ended July 3, 2021 compared to net cash used in operating activities of $3.4 million in the six months ended June 27, 2020.
−Removed: The increase in net cash provided by operating activities, expressed in direct cash flow terms, was primarily due to the payment received for the distribution exclusivity fee and increase in cash receipts from customers, partially offset by an increase in vendor payments.
−Removed: For the six months ended July 3, 2021, net cash used in investing activities was $5.5 million, which consisted primarily of the purchase of PASCAL Business.
−Removed: Net cash used in investing activities for the six months ended June 27, 2020 was $0.1 million, which consisted of capital expenditures.
−Removed: For the six months ended July 3, 2021, net cash provided by financing activities was $9.5 million, primarily from the net proceeds arising from the issuance of common stock, partially offset by payroll taxes related to net share settlement of equity awards .
−Removed: For the six months ended June 27, 2020, net cash provided by financing activities was $2.5 million, reflecting the proceeds from the PPP loan.
+Added: As of October 2, 2021, we had cash and cash equivalents of $25.6 million and working capital of $30.9 million compared to cash and cash equivalents of $11.6 million and working capital of $16.7 million as of January 2, 2021.
+Added: Net cash provided by operating activities was $10.0 million in the nine months ended October 2, 2021 compared to net cash used in operating activities of $3.0 million in the nine months ended September 26, 2020.
+Added: The increase in net cash provided by operating activities, expressed in direct cash flow terms, was primarily due to the payment received for the distribution exclusivity fee and increase in cash receipts from customers, partially offset by an increase in vendor payments and increase in payroll due to higher headcount.
+Added: For the nine months ended October 2, 2021, net cash used in investing activities was $5.5 million, which consisted primarily of the purchase of the PASCAL Business for $5.3 million.
+Added: Net cash used in investing activities for the nine months ended September 26, 2020 was $0.1 million, which consisted of capital expenditures.
+Added: For the nine months ended October 2, 2021, net cash provided by financing activities was $9.4 million, primarily from the net proceeds arising from the issuance of common stock and proceeds from stock option exercises, partially offset by payroll taxes related to net share settlement of equity awards .
+Added: For the nine months ended September 26, 2020, net cash provided by financing activities was $2.5 million, reflecting the proceeds from the PPP loan.
W e have historically funded our operations primarily through sales of our products to customers, and through common stock and borrowing arrangements.
−Removed: As of July 3, 2021, our principal sources of liquidity consisted of cash and cash equivalents of $26.3 million.
−Removed: We have incurred net losses over the last several years, and as of July 3, 2021, have an accumulated deficit of approximately $57.6 million.
−Removed: We expect to continue to incur operating losses and negative cash flows from operations through July 2, 2022.
+Added: As of October 2, 2021, our principal sources of liquidity consisted of cash and cash equivalents of $25.6 million.
+Added: We have incurred net losses over the last several years, and as of October 2, 2021, have an accumulated deficit of approximately $59.7 million.
+Added: We expect to continue to incur operating losses and negative cash flows from operations through October 1, 2022.
We believe our existing cash and cash equivalents will be sufficient to meet our anticipated cash needs over the next 12 months.
2 unchanged sentences
Any debt financing obtained by us in the future could also involve restrictive covenants relating to our capital-raising activities and other financial and operational matters, which may make it more difficult for us to obtain additional capital and to pursue business opportunities, including potential acquisitions.
−Removed: Additionally, if we raise additional funds through further issuances of equity, our existing stockholders could suffer significant dilution in their percentage ownership of our company, and any new equity securities we issue could have rights, preferences and privileges senior to those of holders of our common stock.
−Removed: If we are unable to obtain adequate
−Removed: financing or financing on terms satisfactory to us, when we require it, our ability to continue to grow or support our business and to respond to business challenges could be significantly limited.
+Added: Additionally, if we raise additional funds through further issuances of equity, our existing
+Added: stockholders could suffer significant dilution in their percentage ownership of our company, and any new equity securities we issue could have rights, preferences and privileges senior to those of holders of our common stock.
+Added: If we are unable to obtain adequate financing or financing on terms satisfactory to us, when we require it, our ability to continue to grow or support our business and to respond to business challenges could be significantly limited.
Off-Balance Sheet Arrangements.
3 unchanged sentences
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.