−Removed: QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
−Removed: Currency Exchange Risk
−Removed: Our results of operations and cash flows are affected by fluctuations in foreign currency exchange rates.
+Added: QUANTITATIVE AND QUALITATIVE DISCLOSURES
+Added: ABOUT MARKET RISK
+Added: Exchange Risk
+Added: Our results of operations and cash flows are affected by fluctuations
+Added: in foreign currency exchange rates.
Since 2015, most of our expenses were denominated in U.S.
−Removed: dollars and the
−Removed: remaining expenses were denominated in NIS and euros, until 2018 most of our revenues were denominated in U.S.
−Removed: dollars and the remainder of our revenues was denominated in euros and British pound whereas in the last two years our euro revenues are
−Removed: higher than our U.S dollar revenues.
+Added: dollars and the remaining expenses
+Added: were denominated in NIS and euros, until 2018 most of our revenues were denominated in U.S.
+Added: dollars and the remainder of our revenues
+Added: was denominated in euros and British pound whereas in the last three years our euro revenues are higher than our U.S dollar revenues.
Accordingly, changes in the value of the NIS and euro relative to the U.S.
−Removed: dollar in each of the years 2020, 2019, and 2018 impacted amounts recorded on our consolidated statements of operations for those periods.
−Removed: We expect that the denominations of our revenue and expenses in 2021 will be consistent with what we experienced in 2020.
−Removed: The following table presents information about the changes in the exchange rates of the NIS and euro against the U.S.
+Added: dollar in each of the years 2021, 2020, and 2019 impacted amounts
+Added: recorded on our consolidated statements of operations for those periods.
+Added: We expect that the denominations of our revenue and expenses
+Added: in 2022 will be consistent with what we experienced in 2021.
+Added: The following table presents information about the changes in the
+Added: exchange rates of the NIS and euro against the U.S.
dollar in 2021, 2020 and 2019:
2 unchanged sentences
Euro against the
−Removed: The figures above represent the change in the average exchange rate in the given period compared to the average exchange rate in the immediately preceding period.
−Removed: Negative figures
−Removed: represent depreciation of the U.S.
+Added: The figures above represent the change in the average exchange
+Added: rate in the given period compared to the average exchange rate in the immediately preceding period.
+Added: Negative figures represent depreciation
dollar compared to the NIS or the euro.
A 10% increase or decrease in the value of the NIS against the U.S.
−Removed: dollar would have decreased or increased our net loss by approximately $408 thousand in 2020.
−Removed: A 10% increase
−Removed: or decrease in the value of the euro against the U.S.
+Added: dollar would have
+Added: decreased or increased our net loss by approximately $587 thousand in 2021.
+Added: A 10% increase or decrease in the value of the euro against
dollar would have decreased or increased our net loss by approximately $82 thousand in 2021.
−Removed: From time to time, we enter into limited short term hedging arrangements with financial institutions.
−Removed: We do not use derivative financial instruments for speculative or trading
+Added: From time to time, we enter into limited short term hedging arrangements
+Added: with financial institutions.
+Added: We do not use derivative financial instruments for speculative or trading purposes.
Other Market Risks
−Removed: We do not believe that we have material exposure to interest rate risks or to inflationary risks.
+Added: We do not believe that we have material exposure to interest rate risks or to inflationary
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.