4 unchanged sentences
Interest Rate Risk
−Removed: At October 31, 2025, we had cash, cash equivalents and restricted cash of $87.9 million, which consisted primarily of bank deposits and money market funds.
+Added: At April 30, 2026, we had cash, cash equivalents and restricted cash of $103.1 million, which consisted primarily of bank deposits and money market funds.
Interest-earning instruments carry a degree of interest rate risk.
2 unchanged sentences
We do not enter into investments for trading or speculative purposes and have not used any derivative financial instruments to manage our interest rate risk exposure.
−Removed: Our 2024 Credit Facility is a senior secured revolving credit facility of up to $250.0 million.
+Added: At April 30, 2026, we had outstanding principal debt of $263.5 million.
Borrowings bear interest, at the Borrower’s option, at:
1 unchanged sentence
or (ii) the Term SOFR rate (provided that the Term SOFR shall not be less than 0.00%), plus a margin of 2.00%, in each case with such margin subject to step ups based on certain leverage ratios.
−Removed: As a result, we are exposed to increased interest rate risk as we make draws.
−Removed: At October 31, 2025, we had $203.5 million outstanding under the 2024 Credit Facility.
+Added: We are exposed to increased interest rate risk as we make draws.
A hypothetical 100 basis point change in interest rates would not have had a material impact on our financial results included in this Quarterly Report on Form 10-Q.
−Removed: See Note 10 “Revolving Credit Facility” of the notes to our unaudited condensed consolidated financial statements included in Part I, Item 1 of this Quarterly Report on Form 10-Q for additional information.
+Added: See Note 10 “Debt” of the notes to our unaudited condensed consolidated financial statements included in Part I, Item 1 of this Quarterly Report on Form 10-Q for additional information.
Foreign Currency Exchange Risk
4 unchanged sentences
Revenues and expenses are translated using the average exchange rate for the relevant period.
−Removed: Equity transactions are translated using historical exchange rates.
+Added: transactions are translated using historical exchange rates.
Decreases in the relative value of the U.S.
dollar to other currencies may negatively affect revenues and other operating results as expressed in U.S.
−Removed: Foreign currency translation adjustments are accounted for as a component of accumulated other comprehensive income (loss) within stockholders’ equity.
−Removed: Gains or losses due to transactions in foreign currencies are included in non-operating income (expense), other in our unaudited condensed consolidated statements of operations.
−Removed: Furthermore, our customers outside of the U.S.
+Added: Foreign currency translation adjustments are accounted for as a component of Accumulated other comprehensive income within stockholders’ equity.
+Added: Gains or losses due to transactions in foreign currencies, the majority of which is due to the remeasurement of intercompany loans and transactions that are denominated in currencies other than the underlying functional currency of the applicable entity, are included in Other income (expense), net in our unaudited condensed consolidated statements of operations.
+Added: To help mitigate the risk going forward, we settled a majority of our intercompany loans during fiscal 2026.
+Added: Our customers outside of the U.S.
typically pay us in local currency.
2 unchanged sentences
dollar to other currencies would have a material effect on operating results or financial condition.
−Removed: At October 31, 2025, based on the balances of our cash, cash equivalents, and restricted cash denominated in foreign currencies, a hypothetical 10% increase or decrease in foreign currency exchange rates would have had an impact of approximately $4.8 million on our cash, cash equivalents and restricted cash at October 31, 2025.
+Added: At April 30, 2026, based on the balances of our cash, cash equivalents, and restricted cash denominated in foreign currencies, a hypothetical 10% increase or decrease in foreign currency exchange rates would have had an impact of approximately $4.7 million on our cash, cash equivalents and restricted cash at April 30, 2026.
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.