3 unchanged sentences
Financial instruments that potentially subject us to concentrations of credit risk consist principally of cash and cash equivalents and trade receivables.
−Removed: Cash equivalents consist primarily of cash deposits and short-term, highly liquid investments that are readily convertible into cash, with original maturities of three months or less.
−Removed: Cash equivalents consist primarily of bank deposits and certain investments, such as government securities, with maturities less than 90 days at the date of purchase.
+Added: Cash equivalents consist primarily of cash deposits and short-term, highly liquid investments that are readily convertible into cash, such as government securities with original maturities of less than 90 days at the date of purchase.
Deposits of cash held outside the United States totaled approximately $3.6 million and $3.4 million at December 31, 2022 and 2021, respectively.
2 unchanged sentences
An allowance for credit loss is provided for those accounts receivable considered to be uncollectible based upon historical experience and credit evaluation.
−Removed: As of December 31, 2021, one company represented 18% of our gross accounts receivable.
+Added: As of December 31, 2022, no customer individually accounted for more than 10% of our gross accounts receivable.
As of December 31, 2021, one company represented 18% of our gross accounts receivable.
Due to the nature of our quarterly revenue streams derived from royalty revenue, it is not unusual for our accounts receivable balances to include a few customers with large balances.
−Removed: Historically, we have not recorded material losses due to customers’ nonpayment.
−Removed: For the years ended December 31, 2021 and 2019, no customer individually accounted for more than 10% of our total revenue.
−Removed: For the year ended December 31, 2020, one company accounted for 13% of our total revenue.
−Removed: For the quarter ended December 31, 2021, one company accounted for 14% of our total revenue.
+Added: There were no material losses recorded due to customers’ non-payment for the years ended December 31, 2022, or 2021.
+Added: For the year ended December 31, 2022, only one company accounted for more than 10% of our total revenue at 13%.
+Added: For the year ended December 31, 2021, no customers individually accounted for more than 10% of our total revenue.
Foreign Currency Exchange Risk
As we expand internationally our results of operations and cash flows will become increasingly subject to fluctuations due to changes in foreign currency exchange rates.
−Removed: Historically, the substantial majority of our revenue has been denominated in U.S.
For the years ended December 31, 2022 and 2021, approximately 38% and 36%, respectively, of our total revenue was generated from customers located outside of North America.
3 unchanged sentences
The effect of a 10% adverse change in exchange rates on foreign denominated cash, receivables and payables as of December 31, 2022 would not have been material.
−Removed: The effect of a 10% adverse change in exchange rates on foreign denominated cash, receivables and payables as of December 31, 2022 would not be material.
+Added: The effect of a 10% adverse change in exchange rates on foreign denominated cash, receivables and payables as of December 31, 2021 would not have been material.
To date, we have not entered into any material foreign currency hedging contracts although we may do so in the future.
4 unchanged sentences
Declines in interest rates, however, will reduce future investment income.
−Removed: If overall interest rates had decreased by 10% during the periods presented, our interest income would not have been materially affected.
−Removed: If overall interest rates decrease by 10% during the year ending December 31, 2022, our interest income would not be materially affected.
+Added: If overall interest rates had decreased by 10% during the years ended December 31, 2022 and 2021, our interest income would not have been materially affected.
We do not hold or issue financial instruments for trading purposes.
4 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.