Quantitative and Qualitative Disclosures about Market Risk
−Removed: Following the consummation of our Public Offering, the net proceeds of our Public Offering, including amounts in the Trust Account, have been
−Removed: invested in U.S.
−Removed: government treasury bills, notes or bonds with a maturity of 185 days or less or in certain money market funds that invest solely in U.S.
−Removed: Due to the short-term nature of these investments, we believe there will be no
−Removed: associated material exposure to interest rate risk.
−Removed: FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA.
−Removed: Reference is made to pages F-1 through F-16 comprising a
−Removed: portion of this Annual Report on Form 10-K.
−Removed: CHANGES IN AND
−Removed: DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE.
+Added: We are exposed to market risks in the ordinary course of our business.
+Added: Market risk represents the risk of loss that may impact our financial position due to adverse changes in financial market prices and rates.
+Added: Our market risk exposure is primarily the result of fluctuations in interest rates and foreign currency exchange rates.
+Added: We do not believe that inflation has had a material effect on our business, results of operations or financial condition.
+Added: Nonetheless, if our costs were to become subject to significant inflationary pressures, we may not be able to fully offset such higher costs.
+Added: Our inability or failure to do so could harm our business, results of operations or financial condition.
+Added: Interest Rate Risk
+Added: As of December 31, 2021, we had cash and cash equivalents of approximately $182.6 million, out of which $177.5 million consisted of institutional money market funds, which carries a degree of interest rate risk.
+Added: A hypothetical 10% change in interest rates would not have a material impact on our financial condition or results of operations due to the short-term nature of our investment portfolio.
+Added: Foreign Currency Exchange Risk
+Added: Our results of operations and cash flows are subject to fluctuations due to changes in foreign currency exchange rates.
+Added: Substantially all of our revenue is generated in U.S.
+Added: Our expenses are generally denominated in the currencies of the jurisdictions in which we conduct our operations, which are primarily in the United States and to a lesser extent in Asia and Europe.
+Added: Our results of operations and cash flows are, therefore, subject to fluctuations due to changes in foreign currency exchange rates and may be adversely affected in the future due to changes in foreign exchange rates.
+Added: The effect of a hypothetical 10% change in foreign currency exchange rates applicable to our business would not have a material impact on our historical consolidated financial statements.
+Added: To date, we have not engaged in any hedging strategies.
+Added: As our international operations grow, we will continue to reassess our approach to manage our risk relating to fluctuations in currency rates.
+Added: Ta ble of C ontents
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.