Quantitative and Qualitative Disclosures About Market Risk
−Removed: Because a portion of the Company’s net revenues is derived from its operations outside the U.S.
+Added: Because a portion of the Company’s service revenues are derived from its operations outside the U.S.
and is denominated in local currencies, the Company is exposed to the impact of foreign currency fluctuations.
2 unchanged sentences
dollar value of the Company’s reported revenues, expenses, earnings, assets and liabilities.
−Removed: For the nine months ended September 30, 2025, approximately 22.1% of the Company’s revenues were generated outside of the U.S.
+Added: For the three months ended March 31, 2026, approximately 24.0% of the Company’s revenues were generated outside of the U.S.
These operations transact business in their functional currency, which is the same as their local currency.
5 unchanged sentences
dollar changes relative to the currencies of the Company’s international markets, the Company’s reported results vary.
−Removed: During the first nine months of 2025, the U.S.
−Removed: dollar fluctuated, weakening against the British pound and Euro, and strengthening against the Australian dollar, Brazilian real and Canadian dollar compared to the same period one year ago.
−Removed: Foreign currency exchange rates had the effect of increasing reported service revenues by $5.0 million, or 0.1%, in the first nine months of 2025 compared to the same period one year ago.
+Added: During the first three months of 2026, the U.S.
+Added: dollar fluctuated, weakening against the Australian dollar, Brazilian real, British pound, Canadian dollar and Euro compared to the same period one year ago.
+Added: Foreign currency exchange rates had the effect of increasing reported service revenues by $23.9 million, or 1.77%, in the first three months of 2026 compared to the same period one year ago.
The fluctuation of the U.S.
1 unchanged sentence
Because substantially all the Company’s international operations generated revenues and incurred expenses within the same country and currency, the effect of higher reported revenues is largely offset by the increase in reported operating expenses.
−Removed: Reported net income was $0.1 million, or 0.5%, lower in the first nine months of 2025, compared to the same period one year ago due to the effect of currency exchange rates.
−Removed: If currency exchange rates were to remain at September 30, 2025 levels throughout the remainder of 2025, the currency impact on the Company’s full-year reported revenues and operating expenses would be consistent with the first nine months of 2025 results.
−Removed: Should current trends continue, the impact to reported net income would be immaterial.
+Added: Reported net income was $0.3 million, or 1.9%, lower in the first three months of 2026, compared to the same period one year ago due to the effect of currency exchange rates.
+Added: If currency exchange rates were to remain at March 31, 2026 levels throughout the remainder of 2026, the currency impact on the Company’s full-year reported revenues and operating expenses would be consistent with the first three months of 2026 results.
+Added: These results will likely have an immaterial impact on reported net income.
+Added: For the one month ended April 30, 2026, the U.S.
+Added: dollar weakened since March 31, 2026, against the primary currencies in which the Company conducts business.
+Added: If foreign currency exchange rates were to remain at April 2026 levels throughout 2026, the currency impact on the Company’s full-year reported revenues would be favorable, offset by an unfavorable impact on operating expenses.
+Added: These results will likely have an immaterial impact on reported net income.
Fluctuations in foreign currency exchange rates impact the U.S.
7 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.