7 unchanged sentences
Our EPC customers typically construct multiple projects for several different owners.
−Removed: For the year ended December 31, 2022, our largest customer and five largest customers constituted approximately 8.4% and 35.8% of total revenue, respectively.
−Removed: The loss of any one of our top five customers could have a material adverse effect on our financial conditions and results of operations.
−Removed: Further, our trade accounts receivable are from companies within the solar industry and, as such, we are exposed to normal industry credit risks.
−Removed: As of December 31, 2022, our largest customer and five largest customers constituted 3.4% and 24.1% of trade accounts receivable, respectively.
−Removed: We do not require collateral on our customers’ trade receivables.
+Added: One customer contributed approximately 36.3% of our total revenue for the year ended December 31, 2023 and 37.5% of accounts receivable as of December 31, 2023.
+Added: Our five largest customers contributed approximately 56.9% of our total revenue for the year ended December 31, 2023 and 65.5% of accounts receivable as of December 31, 2023.
+Added: The majority of our contracts require customer deposits ranging from 10 to 20% of the contract value.
We continually evaluate our reserves for potential credit losses and establish reserves for such losses.
+Added: The loss of this large customer or any significant customer could have a material adverse effect on our financial conditions and results of operations.
Commodity Price Risk
4 unchanged sentences
As of December 31, 2023, our long-term debt totaled $183.8 million.
−Removed: We have interest rate exposure with respect to the $243.3 million balance as it is all variable interest rate debt.
−Removed: A 100 basis point increase in interest rates would impact our expected annual interest expense for the next 12 months by approximately $2.4 million.
+Added: We have interest rate exposure with respect to the entire balance as it is all variable interest rate debt.
+Added: A 100 basis point increase/decrease in interest rates would impact our expected annual interest expense for the next 12 months by approximately $1.8 million.
Financial Statements and Supplementary Data
2 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.