1 unchanged sentence
Interest Rate Risk
−Removed: We are exposed to market risk from changes in interest rates, primarily related to our investment activities.
+Added: We are exposed to market risk from changes in interest rates, primarily related to our investments and our borrowings.
The principal objectives of our investment activities are to preserve principal, provide liquidity and maximize income consistent with minimizing risk of material loss.
2 unchanged sentences
Based on the nature of our short-term investments, an immediate 100 basis point change in interest rates would not have a material effect on the fair market value of our portfolio.
+Added: We also have exposure to variable interest rates through our credit facility, as the interest expense related to any borrowings will fluctuate with changes in LIBOR and other benchmark rates.
+Added: Therefore, increases in interest rates may impact our net income or loss by increasing the cost of carrying debt.
Inflationary factors, such as increases in our cost of revenue, sales and marketing expenses and reimbursement expenses, may adversely affect our operating results.
Although we do not believe that inflation has had a material impact on our financial condition or results of operations to date, a high rate of inflation in the future may have an adverse effect on our ability to maintain and increase our gross margin, and on our sales and marketing and reimbursement expenses as a percentage of our revenue if the prices for our products do not increase as much or more than these increased costs.
−Removed: As of December 31, 2020 and 2019, our cash, cash equivalents and marketable securities were maintained with three financial institutions in the United States.
+Added: As of December 31, 2021, our cash and cash equivalents were maintained with one financial institution in the United States.
+Added: As of December 31, 2020, our cash and cash equivalents were maintained with three financial institutions in the United States.
We perform periodic evaluations of the relative credit standing of these financial institutions and believe they have sufficient assets and liquidity to conduct their operations in the ordinary course of business with little or no credit risk to us.
10 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.