4 unchanged sentences
Interest Rate Risk
−Removed: 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.
+Added: At July 31, 2026, we had cash, cash equivalents, and restricted cash of $83.6 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: At April 30, 2026, we had outstanding principal debt of $263.5 million.
+Added: At July 31, 2026, we had outstanding principal debt of $276.0 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: We are exposed to increased interest rate risk as we make draws.
+Added: We are exposed to increased interest rate risk as we make draws on our revolving facility.
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.
6 unchanged sentences
Revenues and expenses are translated using the average exchange rate for the relevant period.
−Removed: transactions are translated using historical exchange rates.
+Added: Equity transactions are translated using historical exchange rates.
Decreases in the relative value of the U.S.
1 unchanged sentence
Foreign currency translation adjustments are accounted for as a component of Accumulated other comprehensive income within stockholders’ equity.
−Removed: 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.
−Removed: To help mitigate the risk going forward, we settled a majority of our intercompany loans during fiscal 2026.
+Added: Gains or losses due to transactions in foreign currencies, the majority of which is due to 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, we settled a majority of our intercompany loans during fiscal 2026.
Our customers outside of the U.S.
3 unchanged sentences
dollar to other currencies would have a material effect on operating results or financial condition.
−Removed: 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.
+Added: At July 31, 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 $4.4 million on our cash, cash equivalents, and restricted cash at July 31, 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.