7 unchanged sentences
Except as set forth below, there were no material changes to the risk factors previously disclosed in Part 1, Item 1A.
−Removed: of our Form 10-K, which is incorporated by reference herein.
+Added: of our Form 10-K.
Our stock repurchase program may not be fully consummated, may not enhance long-term stockholder value, may increase the volatility of our stock prices and, as we implement it, will diminish our cash reserves.
Pursuant to the Program adopted in April 2024, we may repurchase of up to $100.0 million of our common stock, from time to time, through open market purchases, block trades, in privately negotiated transactions, accelerated share repurchase transactions, or by other means.
−Removed: Since the inception of the Program, we have not repurchased any shares of our common stock.
+Added: Since the inception of the Program, we have repurchased an aggregate of approximately 1.1 million shares of common stock at a total cost of $10.0 million at an average price of $8.92 per share of common stock.
The volume, timing, and manner of any repurchases will be determined at our discretion, subject to general market conditions, as well as our management of capital, general business conditions, other investment opportunities, regulatory requirements, and other factors.
2 unchanged sentences
We are under no legal obligation to repurchase any shares, and if we do not do so or if we commence repurchases and then suspend or terminate them, the trading prices of our stock may decrease and their volatility increase.
−Removed: We did not at June 30, 2024, and we may not in the future, have cash and cash equivalents sufficient to fund all potential repurchases under the Program.
+Added: We may not in the future have cash and cash equivalents sufficient to fund all potential repurchases under the Program.
Even if we complete the Program, we may not be successful in our goal of enhancing stockholder value.
1 unchanged sentence
We face risks associated with financial instruments we hold.
−Removed: We hold financial instruments that potentially subject us to significant concentrations of credit risk, which instruments consist principally of cash and cash equivalents, accounts receivable, unbilled contracts receivable, a note receivable and deferred consideration from the Divestiture.
+Added: We hold financial instruments that potentially subject us to significant concentrations of credit risk, which instruments consist principally of cash and cash equivalents, accounts receivable, unbilled contracts receivable, a note receivable and deferred consideration from the AutoSense Divestiture.
We maintain cash and cash equivalents with large financial institutions, and at times, the deposits have exceeded and may exceed the federally insured limits.
Our evaluation process as to accounts receivable and unbilled contracts receivable may fail to detect or prevent credit risks.
−Removed: In addition, in connection with the Divestiture, we hold a $27.7 million note receivable from Tobii, who also owes us $15.0 million in deferred consideration and may become obligated to make earnout payments to us contingent upon the future success of the divested AutoSense in-cabin safety business.
+Added: In addition, in connection with the AutoSense Divestiture, we hold a $27.7 million note receivable from Tobii, who also owes us $15.0 million in deferred consideration and may become obligated to make earnout payments to us contingent upon the future success of the divested AutoSense in-cabin safety business.
The note is payable in three annual installments commencing on April 1, 2027, and matures on April 1, 2029.
3 unchanged sentences
If we determine it is appropriate to impair any of the financial instruments we hold, our financial position and results of operations would be adversely affected.
−Removed: Unregistered Sales of Equity Securities and Use of Proceeds
−Removed: Not applicable.
−Removed: Defaults Upon Senior Securities
−Removed: Not applicable.
−Removed: Mine Safety Disclosures
−Removed: Not applicable.
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.