5 unchanged sentences
Our investment policy specifies credit quality standards for our investments and limits the amount of credit exposure to any single issue, issuer or type of investment.
−Removed: Our investments consist of debt securities of various types and maturities of five years or less, with an average maturity of two years.
+Added: Our investments consist of debt securities of various types and maturities of five years or less, with an average maturity of 2.1 years.
These securities are classified as available-for-sale.
−Removed: Available-for-sale securities are recorded on the balance sheet at fair market value with unrealized gains or losses reported as part of Accumulated other comprehensive income (loss).
+Added: Available-for-sale securities are recorded on the balance sheet at fair market value with unrealized gains or losses reported as part of Accumulated other comprehensive loss.
Realized gains and losses on investment security transactions are reported on the specific-identification method.
2 unchanged sentences
Although our investment policy guidelines are intended to ensure the preservation of principal, market conditions can result in high levels of uncertainty.
−Removed: Our ability to trade or redeem the marketable investment securities in which we invest, including certain corporate bonds, may become difficult.
+Added: Our ability to trade or redeem the securities in which we invest, including certain corporate bonds, may become difficult.
Valuation and pricing of these securities can also become variable and subject to uncertainty.
2 unchanged sentences
We may be exposed to fluctuations in foreign currencies with regard to certain agreements with service providers.
−Removed: Depending on the strengthening or weakening of the United States dollar, realized and unrealized currency fluctuations could be significant.
+Added: While our expenses are predominantly denominated in U.S.
+Added: dollars, approximately 10% of our revenues are denominated in other currencies, primarily in Japanese yen.
+Added: A hypothetical 10% change in the value of the Japanese yen relative to the U.S.
+Added: dollar would result in a 1% change in our revenues.
+Added: Although we also have certain operations denominated in Euros, Swiss francs, and British pounds, among other currencies, those operations are subject to less overall market risk due to the revenue and expenses being denominated in the same currency.
+Added: During the year ended December 31, 2022, our revenues were negatively impacted by approximately $10.4 million due to foreign currency fluctuations.
+Added: We do not currently utilize hedging strategies to mitigate foreign currency risk.
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.