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Our unaudited condensed consolidated financial statements are expressed in U.S.
−Removed: dollars, but, effective January 1, 2021, a portion of our operations is conducted in a currency other than U.S.
−Removed: The Canadian dollar is the functional currency of the Company’s foreign subsidiary as it is the primary currency within the economic environment in which the subsidiary operates.
−Removed: Additionally, during the six months ended June 30, 2024, the Company formed an entity in Australia, in which the Australian dollar as the functional currency of the Company’s foreign subsidiary.
+Added: However, the Company conducts operations in Canada and Australia exposing us to market risks resulting from fluctuations in foreign currency exchange rates.
+Added: The Canadian dollar and the Australian dollar are the functional currencies of the Company’s foreign subsidiaries as it is the primary currency within the economic environment in which the subsidiaries operate.
Changes in the exchange rates of the above foreign currencies can affect our revenues, earnings, and the carrying value of our assets and liabilities in our unaudited condensed consolidated balance sheets, either positively or negatively.
Adjustments resulting from the translation of the subsidiary’s financial statements are reported in other comprehensive income.
−Removed: For the three and six months ended June 30, 2025, the Company recorded a foreign currency translation gain of $6.0 million and $6.1 million, respectively, to comprehensive income.
−Removed: For the three and six months ended June 30, 2024, the Company recorded foreign currency translation loss of $1.7 million and $5.4 million, respectively, to comprehensive income.
+Added: For the three and nine months ended September 30, 2025, the Company recorded a foreign currency translation loss of $2.4 million and gain of $3.7 million, respectively, to comprehensive income.
+Added: For the three and nine months ended September 30, 2024, the Company recorded foreign currency translation gain of $1.6 million and loss of $3.8 million, respectively, to comprehensive income.
Other exposures to market risk have not changed materially since December 31, 2024.
1 unchanged sentence
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.