5 unchanged sentences
We currently have subsidiaries in the United Kingdom, Hong Kong, China, Australia, Singapore, Germany and France.
−Removed: Approximately 33% of our revenues for the three months ended March 31, 2025 were derived from customers with billing addresses outside of the United States and our foreign exchange losses were not significant.
+Added: Approximately 30% and 31% of our revenues for the three and six months ended June 30, 2025, respectively, were derived from customers with billing addresses outside of the United States and our foreign exchange losses were not significant.
We currently believe our exposure to foreign currency exchange rate fluctuations is financially immaterial and therefore have not entered into foreign currency hedging transactions.
6 unchanged sentences
Interest rate risk
−Removed: At March 31, 2025, we had cash and cash equivalents totaling $78.7 million.
+Added: At June 30, 2025, we had cash and cash equivalents totaling $61.7 million.
The cash and cash equivalents were held for working capital purposes.
2 unchanged sentences
We are exposed to market risk for changes in interest rates related to our Credit Facility, which provides for borrowing up to $250.0 million.
−Removed: Interest on the Credit Facility is calculated by reference to the Secured Overnight Financing Rate (“SOFR”), plus 2.5% per annum.
+Added: Interest on the Credit Facility is calculated by reference to the SOFR, plus 2.5% per annum.
Assuming that the amounts available under the Credit Facility were fully drawn, a 1% increase in interest rates would result in an increase in annual interest expense and a decrease in our cash flows of $2.5 million per year.
3 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.