1 unchanged sentence
are exposed to certain market risks as part of our ongoing business operations.
−Removed: are exposed to credit risk on our cash, cash equivalents, marketable securities, and accounts receivable.
−Removed: We place cash, cash equivalents,
−Removed: and marketable securities with financial institutions with high credit standing, and we place excess cash in marketable investment grade
−Removed: debt securities.
−Removed: We are exposed to credit risk on our accounts receivable in the event of default by a customer.
−Removed: We bill our customers
−Removed: under customary payment terms and review customers for their creditworthiness.
−Removed: The term between invoicing and payment due date is not
−Removed: A meaningful portion of our revenue is attributable to service agreements with one customer.
−Removed: For the years ended December
−Removed: 31, 2024 and 2023, one customer accounted for $14.9 million and $37.0 million or 16% and 46% of our revenue, respectively.
−Removed: As of December 31, 2024, no single customer represented 10% or more
−Removed: of total accounts receivable.
−Removed: As of December 31, 2023, one customer accounted for 35% of accounts receivable.
−Removed: are exposed to interest rate risk on our cash, cash equivalents and marketable securities.
−Removed: As of December 31, 2024, we had cash, cash
−Removed: equivalents and marketable securities of $114.0 million, consisting of investments in money market funds, treasury bills, and term
−Removed: deposits for which the fair market value would be affected by changes in the general level of interest rates.
−Removed: However, due to the short-term
−Removed: maturities and the low-risk profile of our investments, an immediate 10% change in interest rates would not have a material effect on
−Removed: the fair market value of our cash, cash equivalents and marketable securities.
+Added: are exposed to credit risk on our cash, cash equivalents, and accounts receivable.
+Added: We place cash and cash equivalents with financial
+Added: institutions with high credit standing, and we place excess cash in marketable investment-grade debt securities.
+Added: We are exposed to credit
+Added: risk on our accounts receivable in the event of default by a customer.
+Added: We bill our customers under customary payment terms and review
+Added: customers for their creditworthiness.
+Added: The term between invoicing and payment due date is not significant.
+Added: No single customer represented
+Added: 10% or more of the total revenue for the year ended December 31, 2025.
+Added: However, a meaningful portion of our revenue for the year ended
+Added: December 31, 2024 was derived from service agreements with one customer, which accounted for $14.9 million, or 16%, of total revenue.
+Added: As of December 31, 2025 and 2024, no single customer represented 10% or more of total accounts receivable.
+Added: are exposed to interest rate risk on our cash and cash equivalents.
+Added: As of December 31, 2025, we had cash and cash equivalents of $237.9 million,
+Added: consisting of investments in money market funds, treasury bills, and term deposits for which the fair market value would be affected
+Added: by changes in the general level of interest rates.
+Added: However, due to the short-term maturities and the low-risk profile of our investments,
+Added: an immediate 10% change in interest rates would not have a material effect on the fair market value of our cash and cash equivalents.
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.