5 unchanged sentences
We are subject to risk from fluctuations in interest rates, primarily relating to our Senior Secured Credit Facility and certain local debt, which bear interest at variable rates.
+Added: As of December 31, 2025, there was no outstanding balance under our Senior Secured Credit Facility.
Based on our outstanding variable-rate debt as of December 31, 2025, an increase of 100 basis points in our weighted-average interest rate would result in an increase in interest expense of $0.2 million on an annual basis.
2 unchanged sentences
We derived substantially all of our revenues outside of the United States for the year ended December 31, 2025.
−Removed: Our business is transacted through a network of international and domestic subsidiaries, generally in the local currency, considered the functional currency for that subsidiary.
+Added: Our business is transacted through international and domestic subsidiaries, generally in the local currency, which is considered the functional currency for that subsidiary.
Our foreign currency exchange rate risk is related to the following items:
8 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.