68 unchanged sentences
A number of countries in which we manufacture or do business in are identified in the report as being on the Priority Watch List, such as China and India, or the Watch List, such as Canada and Mexico.
−Removed: Among the concerns reported were trade secret theft, online piracy and counterfeiting, technology transfer requirements, and inadequate intellectual property protections and
+Added: Among the concerns reported were trade secret theft, online piracy and counterfeiting, technology transfer requirements, and inadequate intellectual property protections and enforcement.
The absence of harmonized intellectual property protection laws and effective enforcement makes it difficult to ensure consistent respect for patent, trade secret, and other intellectual property rights on a worldwide basis.
26 unchanged sentences
This may make it difficult for investors to undertake period-to-period comparisons of our performance.
−Removed: Also, the fluctuating nature of key components of our revenues may limit the visibility of our
−Removed: management regarding performance in future periods, and make it more difficult for our management to provide guidance to our investors.
+Added: Also, the fluctuating nature of key components of our revenues may limit the visibility of our management regarding performance in future periods, and make it more difficult for our management to provide guidance to our investors.
We may not have adequate manufacturing capacity to satisfy future increases in demand for our products.
41 unchanged sentences
We have qualified certain of our foil resistor products under various military specifications approved and monitored by the DLA, and under certain European military specifications, and various aerospace standards approved by NASA and the ESA.
−Removed: Qualification and specification levels are based in part upon product failure rate.
+Added: Qualification and specification levels are based in part upon product failure rates.
We must continuously perform tests on our products, and for products that are qualified, the results of these tests must be reported to the qualifying organization.
19 unchanged sentences
Although we have never been involved in any environmental matter that has had a material adverse impact on our overall operations, there can be no assurance that in connection with any past or future operation, acquisition or otherwise, we will not be obligated to address environmental matters that could have a material adverse impact on our business, financial condition, and results of operations.
−Removed: The failure by us to comply with applicable environmental, health and safety requirements could result in fines, penalties, enforcement actions, third-party claims for property damage and personal injury, requirements to clean up property or to pay for the costs of cleanup, or regulatory or judicial orders requiring corrective measures, which could have a material adverse effect
−Removed: on our business, financial condition or results of operations.
+Added: The failure by us to comply with applicable environmental, health and safety requirements could result in fines, penalties, enforcement actions, third-party claims for property damage and personal injury, requirements to clean up property or to pay for the costs of cleanup, or regulatory or judicial orders requiring corrective measures, which could have a material adverse effect on our business, financial condition or results of operations.
Additionally, such actions could negatively impact our reputation in the impacted geographic market and more broadly.
72 unchanged sentences
This instability could result in wars, riots, nationalization of industry, currency fluctuations, and labor unrest or unavailability.
−Removed: These conditions could have an adverse impact on our ability to manufacture, ship and operate in these regions and, depending on the extent and severity of these conditions, could result in a reduction in
−Removed: customer orders and sales to certain regions and end-markets and materially and adversely affect our overall financial condition and operating results.
+Added: These conditions could have an adverse impact on our ability to manufacture, ship and operate in these regions and, depending on the extent and severity of these conditions, could result in a reduction in customer orders and sales to certain regions and end-markets and materially and adversely affect our overall financial condition and operating results.
We have principal manufacturing facilities and operations located in Israel.
Accordingly, our business is directly influenced by the political, economic and military conditions affecting Israel at any given time.
−Removed: Since the establishment of the State of Israel in 1948, a number of armed conflicts have occurred between Israel and its neighboring countries, terrorist organizations and other militant groups, including the current war between Israel and Hamas.
−Removed: We have never experienced any material interruption in our operations attributable to these factors, in spite of several Middle East crises, including the current war.
+Added: Since the establishment of the State of Israel in 1948, a number of armed conflicts have occurred between Israel and its neighboring countries, terrorist organizations and other militant groups.
+Added: We have never experienced any material interruption in our operations attributable to these factors, in spite of several Middle East crises, including the recent war.
In response to conflict in or around Israel, we could in the future temporarily discontinue production in Israel for the safety of our employees.
−Removed: We could also face future production slowdowns or interruptions at either of our manufacturing locations in Israel due to the impacts of conflicts, such as the war between Israel and Hamas, including personnel absences as a number of our employees have been called to active military duty, or due to other resource constraints such as the inability to source materials for production.
−Removed: The intensity and duration of Israel’s current war against Hamas are difficult to predict as are such war’s implications on our operations and on the global economy.
+Added: We could also face future production slowdowns or interruptions at either of our manufacturing locations in Israel due to the impacts of conflicts.
A change in the security and political situation in Israel and in the economy could have a material adverse effect on our business, operating results and financial condition.
+Added: To the extent practicable, we maintain contingency plans to mitigate the impact on our Israel-based operations and to maintain the safety of our employees which may result from military or political conflicts.
+Added: These include adjusting production schedules, shipping inventories to our locations and warehouses in other geographies, providing transportation and other resources to employees, and utilizing our other operations.
We are subject to foreign currency exchange rate risks which may impact our results of operations.
5 unchanged sentences
Our exposure to foreign currency exchange rate risk is more pronounced in situations such as our operations in Canada, India, Israel, and China - where costs, such as production labor costs are predominantly paid in local currencies while the sales revenue for those products is predominantly denominated in U.S.
−Removed: As of December 31, 2024, we did not have in place any arrangements to mitigate or hedge against exposures relating to fluctuations in foreign currency exchange rate.
+Added: As of December 31, 2025, we did not have in place any arrangements to mitigate or hedge against exposures relating to fluctuations in foreign currency exchange rates.
A change in the mix of the currencies in which we transact our business could have a material effect on results of operations.
27 unchanged sentences
Felix Zandman, controls the voting of, solely or on a shared basis with Marc Zandman (Dr.
−Removed: Felix Zandman's son and a member of our Board of Directors) and Ziv Shoshani (Mrs.
+Added: Felix Zandman's son) and Ziv Shoshani (Mrs.
Ruta Zandman’s nephew and our Chief Executive Officer and a member of our Board of Directors), approximately 76.9% of our Class B convertible common stock, representing 35.0% of the total voting power of our capital stock as of December 31, 2025.
54 unchanged sentences
Such network disruption could result in a loss of the confidentiality of our intellectual property or the release of sensitive competitive information or customer or employee personal data.
−Removed: Any loss of such information could harm our
−Removed: competitive position, result in a loss of customer confidence, and cause us to incur significant costs to remedy the damages caused by the disruptions or security breaches.
+Added: Any loss of such information could harm our competitive position, result in a loss of customer confidence, and cause us to incur significant costs to remedy the damages caused by the disruptions or security breaches.
We have implemented protective measures to prevent against and limit the effects of system or network disruptions, but there can be no assurance that such measures will be sufficient to prevent or limit the damage from any future disruptions and any such disruption could have a material adverse impact on our business and results of operations.
37 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.