9 unchanged sentences
We have not been exposed nor do we anticipate being exposed to material risks due to changes in interest rates.
−Removed: A hypothetical 10% change in interest rates would have had a $2.2 million and an $0.6 million impact to interest income for the years ended December 31, 2024 and 2023, respectively.
+Added: A hypothetical 10% change in interest rates would have had a $2.2 million impact to interest income for the years ended December 31, 2025 and 2024.
As of December 31, 2025 we had $661.3 million in outstanding aggregate principal amount of fixed rate debt relating to our 2029 Notes.
1 unchanged sentence
However, changes in interest rates could impact the fair market value of the 2029 Notes.
−Removed: The estimated fair value of our 2029 Notes as of December 31, 2024 was $641.2 million.
−Removed: As of December 31, 2023 we had total outstanding debt of $35.0 million, net of debt issuance costs relating to the 2022 Term Loans.
−Removed: The SVB Loan Agreement carried a variable interest rate based on the “Prime Rate” published by The Wall Street Journal.
−Removed: A hypothetical 10% change in interest rates during the year ended December 31, 2023 would have resulted in an immaterial impact on our Consolidated Financial Statements.
+Added: The estimated fair value of the 2029 Notes as of December 31, 2025 was $924.1 million.
Market Price Sensitive Instruments
3 unchanged sentences
We face foreign exchange risk as a result of entering into transactions denominated in currencies other than U.S.
−Removed: dollars, particularly in British Pound Sterling, Philippine Pesos, Euros, and Swiss Francs.
+Added: dollars, particularly in British Pound Sterling, Philippine Pesos, Euros, Swiss Francs and Japanese Yen.
As of December 31, 2025 and 2024, we do not consider this risk to be material.
4 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.