1 unchanged sentence
We are exposed to market risk related to changes in interest rates.
−Removed: We had cash, cash equivalents, and investments of $345.6 million as of June 30, 2020.
+Added: We had cash, cash equivalents, and investments of $302.4 million as of September 30, 2020.
Our primary exposure to market risk is interest rate sensitivity, which is affected by changes in the general level of U.S.
interest rates, particularly because the majority of our investments are in short-term securities.
−Removed: Due to the short-term duration of our investment portfolio and the low risk profile of our investments, an immediate 10% change in interest rates would not have a material effect on the fair market value of our investment portfolio.
+Added: Due to the short-term duration of our investment portfolio and the low risk profile of our investments, an immediate 100 basis point shift in interest rates would not have a material effect on the fair market value of our investment portfolio.
We do not believe our cash, cash equivalents, restricted cash and investments have significant risk of default or illiquidity.
7 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.