1 unchanged sentence
We are exposed to market risks in the ordinary course of our business, which primarily relate to fluctuations in the value of our investments, interest rates, foreign currency exchange, and inflation.
−Removed: As of September 30, 2025, we held publicly-traded equity securities valued at $42.1 million.
+Added: As of March 31, 2026, we held publicly-traded equity securities valued at $6 million.
We have sold, and may continue to sell, some or all of such equity securities.
These equity securities are often in early- or growth-stage companies that have minimal public trading history;
−Removed: as such the fair value of these equity securities, and the value of our equity holdings, may fluctuate depending on the financial outcome and prospects of the issuers, as well as global market conditions, including ongoing volatility related to the Russia-Ukraine, and Israel and broader Middle East conflicts, heightened interest rates, or the potential or actual imposition of tariffs or other impacts on trade relations.
−Removed: As of September 30, 2025, we held privately-held equity securities valued at $163.2 million.
+Added: as such the fair value of these equity securities, and the value of our equity holdings, may fluctuate depending on the financial outcome and prospects of the issuers, as well as global market conditions including ongoing volatility related to global conflicts, fluctuating interest rates, or the potential or actual imposition of tariffs or other impacts on trade relations.
+Added: As of March 31, 2026, we held privately-held equity securities valued at $245 million.
Valuations of our privately-held equity securities are complex due to, among other things, the lack of liquidity and the lack of readily available market data.
10 unchanged sentences
Our expenses are generally denominated in the currencies of the jurisdictions in which we conduct our operations, which are primarily in the United States, United Kingdom, and other countries.
−Removed: Our results of current and future operations and cash flows are, therefore, subject to fluctuations due to changes in foreign currency exchange rates, particularly changes in JPY, Euro, and GBP.
−Removed: We have experienced, and may continue to experience, fluctuations in net income as a result of transaction gains or losses
−Removed: related to remeasuring certain asset and liability balances that are denominated in foreign currencies.
+Added: Our results of current and future operations and cash flows are, therefore, subject to fluctuations due to changes in foreign currency exchange rates, particularly changes in JPY, EUR, and GBP.
+Added: We have experienced, and may continue to experience, fluctuations in net income as a result of transaction gains or losses related to remeasuring certain asset and liability balances that are denominated in foreign currencies.
These exposures may change over time as business practices evolve and economic conditions change.
5 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.