8 unchanged sentences
As a result of the fluctuation in exchange rates compared to the U.S.
−Removed: dollar, our revenue was $52.2 million higher in the first quarter of 2026 in comparison to the first quarter of 2025.
+Added: dollar, our revenue was $69.6 million higher in the first two quarters of 2026 in comparison to the first two quarters of 2025.
Foreign currency exchange differences which arise on translation of our international subsidiaries' balance sheets into U.S.
2 unchanged sentences
We enter into forward currency contracts in order to hedge a portion of the foreign currency exposure associated with the translation of our net investment in our Canadian subsidiary.
−Removed: During the first quarter of 2026, the impact to other comprehensive loss of translation of our Canadian subsidiaries was a reduction in the loss of $7.0 million, inclusive of net investment hedge gains.
+Added: During the first two quarters of 2026, the impact to other comprehensive loss of translation of our Canadian subsidiaries was an increase in the loss of $47.3 million, inclusive of net investment hedge gains.
Transaction Risk .
2 unchanged sentences
We also hold cash and cash equivalents and other monetary assets in currencies that are different to the functional currency of our subsidiaries.
−Removed: As of May 3, 2026, we had certain forward currency contracts outstanding in order to economically hedge the foreign currency revaluation gains and losses recognized by our foreign subsidiaries, including our Canadian and Chinese subsidiaries, on their monetary assets and liabilities denominated in currencies other than their functional currency.
+Added: As of August 2, 2026, we had certain forward currency contracts outstanding in order to economically hedge the foreign currency revaluation gains and losses recognized by our foreign subsidiaries, including our Canadian and Chinese subsidiaries, on their monetary assets and liabilities denominated in currencies other than their functional currency.
We perform a sensitivity analysis to determine the market risk exposure associated with the fair values of our forward currency contracts.
−Removed: The net fair value of outstanding derivatives as of May 3, 2026 was a liability of $2.7 million.
−Removed: As of May 3, 2026, a 10% depreciation in the U.S.
+Added: The net fair value of outstanding derivatives as of August 2, 2026 was a liability of $2.2 million.
+Added: As of August 2, 2026, a 10% depreciation in the U.S.
dollar against the hedged currencies would have resulted in the net fair value of outstanding derivatives depreciating by $33.6 million.
The hypothetical change in the fair value of the forward currency contracts would have been substantially offset by a corresponding but directionally opposite change in the underlying hedged items.
−Removed: The net fair value of our outstanding forward currency contracts increased as of May 3, 2026 compared to February 1, 2026 primarily due to foreign currency exchange rate movement on the derivative financial instruments.
+Added: The net fair value of our outstanding forward currency contracts increased as of August 2, 2026 compared to February 1, 2026 primarily due to foreign currency exchange rate movement on the derivative financial instruments.
In the future, in an effort to reduce foreign currency exchange risks, we may enter into further derivative financial instruments including hedging additional currency pairs.
5 unchanged sentences
Because our revolving credit facilities bear interest at a variable rate, we will be exposed to market risks relating to changes in interest rates if we have a meaningful outstanding balance.
−Removed: As of May 3, 2026, there were no borrowings outstanding under this facility other than letters of credit and guarantee of $6.4 million.
+Added: As of August 2, 2026, there were no borrowings outstanding under this facility other than letters of credit and guarantee of $6.3 million.
We currently do not engage in any interest rate hedging activity and currently have no intention to do so.
3 unchanged sentences
Our cash and cash equivalent balances are held in the form of cash on hand, bank balances, and short-term deposits with original maturities of three months or less, and in money market funds.
−Removed: As of May 3, 2026, we held cash and cash equivalents of $1.5 billion.
+Added: As of August 2, 2026, we held cash and cash equivalents of $1.4 billion.
Interest generated on cash balances is subject to variability as interest rates increase or decrease.
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.