49 unchanged sentences
We are dependent on the availability of such capacity to manufacture, assemble and test our products.
−Removed: Foundry, assembly and test capacity is currently limited due to a spike in semiconductor demand.
None of our third-party foundry, assembly or test subcontractors have provided assurances that adequate capacity will be available to us.
−Removed: The semiconductor industry has recently experienced an economic up-cycle.
−Removed: This recent up-cycle could be followed by a downturn, and historically, such down-cycles have resulted in a decline in overall GDP performance and greater overall uncertainty regarding the economy.
−Removed: If such a downturn occurs, it could have a material adverse effect on our business and operating results.
+Added: We believe the semiconductor industry is currently suffering a downturn due in large part to adverse macroeconomic conditions, characterized by a slowdown in overall GDP performance and factory activity in certain regions, higher levels of customer inventory, the impact of tariffs on trade relations, and greater overall uncertainty regarding the economy.
+Added: This downturn could have a material adverse effect on our business and operating results.
In addition, the COVID-19 pandemic has caused further global economic uncertainty.
3 unchanged sentences
This has included the establishment of a headquarters in Singapore for non-U.S.
−Removed: During three months ended April 1, 2023, the percentage of our revenues derived from outside of the United States was 84% (and the revenue associated with end customers in China was 10%, and revenue attributed to China based on shipped-to location was 25%).
+Added: During six months ended July 1, 2023, the percentage of our revenues derived from outside of the United States was 86% (and the revenue associated with end customers in China was 10%, and revenue attributed to China based on shipped-to location was 26%).
We may not be able to maintain or increase global market demand for our products.
111 unchanged sentences
● The software used in our products, including software provided by third parties, may not meet the needs of our customers;
−Removed: ● Our customers may not be able to obtain other components such as capacitors (which are currently in short supply) that they need to incorporate in conjunction with our products, leading to potential downturn in the demand for our products;
+Added: ● Our customers may not be able to obtain other components such as capacitors that they need to incorporate in conjunction with our products, leading to potential downturn in the demand for our products;
● Significant legal costs to defend our intellectual property rights or respond to claims against us;
8 unchanged sentences
As a result, we have devoted and expect to continue to devote a large amount of resources to develop products based on new and emerging technologies and standards that will be commercially introduced in the future.
−Removed: Research and development expense during three months ended April 1, 2023 was $89.4 million, or 36.2% of revenues.
+Added: Research and development expense during six months ended July 1, 2023 was $175.3 million, or 35.7% of revenues.
A number of companies are actively involved in the development of these new technologies and standards.
5 unchanged sentences
We believe that our future success will be dependent on retaining the services of our key personnel, developing their successors and certain internal processes to reduce our reliance on specific individuals, and on properly managing the transition of key roles when they occur.
−Removed: There is currently a shortage of qualified personnel with significant experience in the design, development, manufacturing, marketing and sales of analog and mixed-signal products.
−Removed: In particular, there is a shortage of engineers who are familiar with the intricacies of the design and manufacturability of analog elements, and competition for such personnel is intense.
+Added: There is currently a shortage of qualified personnel with significant experience in the design, development, manufacturing, marketing and sales of analog and mixed-signal products, and competition for such personnel is intense.
Our key technical personnel represent a significant asset and serve as the primary source for our technological and product innovations.
47 unchanged sentences
The future growth of our business will depend in large part on our ability to manage our relationships with current and future distributors and sales representatives, develop additional channels for the distribution and sale of our products and manage these relationships.
−Removed: During three months ended April 1, 2023, 83% of our revenue was derived from distributors (and 53% of our revenue was derived from our two largest distributors).
+Added: During six months ended July 1, 2023, 80% of our revenue was derived from distributors (and 50% of our revenue was derived from our two largest distributors).
As we execute our indirect sales strategy, we must manage the potential conflicts that may arise with our direct sales efforts.
164 unchanged sentences
If any such customer or distributor, or a material portion of our smaller customers or distributors, were to become insolvent or otherwise not satisfy their obligations to us, we could be materially harmed.
−Removed: Our convertible senior notes could adversely affect our operating results and financial condition
−Removed: On January 2, 2022, we irrevocably elected cash settlement for the principal amount of the 2025 Notes.
−Removed: On March 22, 2023, we issued a notice of redemption for the 2025 Notes.
−Removed: The redemption will occur on June 20, 2023 for any of the 2025 Notes outstanding that have not been previously converted.
−Removed: If we do not have adequate cash available to settle the principal amount of the 2025 Notes, we could seek to raise additional funds through debt or equity capital.
−Removed: However, additional funds may not be available on terms acceptable to us, or at all.
−Removed: We intend to settle any excess value in shares in the event of a conversion or redemption.
−Removed: Shares issued to settle any excess value may result in immediate, and potentially material, dilution to the ownership interests of our existing stockholders.
−Removed: Any sales in the public market of our common stock issuable upon such conversion could adversely affect prevailing market prices of our common stock.
Our debt could adversely affect our operations and financial condition
39 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.