diff --git a/.release-please-manifest.json b/.release-please-manifest.json
index 6d2ee115..961ba538 100644
--- a/.release-please-manifest.json
+++ b/.release-please-manifest.json
@@ -1,3 +1,3 @@
 {
-  ".": "11.3.0"
+  ".": "11.3.1"
 }
diff --git a/CHANGELOG.md b/CHANGELOG.md
index 36e9de70..89acb5ab 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -6,6 +6,13 @@ All notable changes to the LaunchDarkly iOS SDK will be documented in this file.
 * bumping swift-tools-version:5.5 and macosx to be compatible with otel
 - masOS "10.13" -> "12.00"
 
+## [11.3.1](https://github.com/launchdarkly/ios-client-sdk/compare/11.3.0...11.3.1) (2026-07-27)
+
+
+### Bug Fixes
+
+* add defensive cycle guard to prerequisite evaluation ([#512](https://github.com/launchdarkly/ios-client-sdk/issues/512)) ([f7d3f0e](https://github.com/launchdarkly/ios-client-sdk/commit/f7d3f0e31f4d134df365b5953d6b5a62931c0736))
+
 ## [11.3.0](https://github.com/launchdarkly/ios-client-sdk/compare/11.2.0...11.3.0) (2026-07-09)
 
 
diff --git a/LaunchDarkly.podspec b/LaunchDarkly.podspec
index 34706820..ed8000ed 100644
--- a/LaunchDarkly.podspec
+++ b/LaunchDarkly.podspec
@@ -2,7 +2,7 @@
 Pod::Spec.new do |ld|
 
   ld.name         = "LaunchDarkly"
-  ld.version      = "11.3.0" # x-release-please-version
+  ld.version      = "11.3.1" # x-release-please-version
   ld.summary      = "iOS SDK for LaunchDarkly"
 
   ld.description  = <<-DESC
diff --git a/LaunchDarkly.xcodeproj/project.pbxproj b/LaunchDarkly.xcodeproj/project.pbxproj
index d933dd44..a5e859ad 100644
--- a/LaunchDarkly.xcodeproj/project.pbxproj
+++ b/LaunchDarkly.xcodeproj/project.pbxproj
@@ -1824,12 +1824,12 @@
 				CODE_SIGN_STYLE = Automatic;
 				DEFINES_MODULE = NO;
 				DYLIB_COMPATIBILITY_VERSION = 11.0.0;
-				DYLIB_CURRENT_VERSION = 11.3.0;
+				DYLIB_CURRENT_VERSION = 11.3.1;
 				DYLIB_INSTALL_NAME_BASE = "@rpath";
 				GCC_C_LANGUAGE_STANDARD = gnu11;
 				INFOPLIST_FILE = "$(PROJECT_DIR)/LaunchDarkly/LaunchDarkly/Support/Info.plist";
 				INSTALL_PATH = "$(LOCAL_LIBRARY_DIR)/Frameworks";
-				MARKETING_VERSION = 11.3.0;
+				MARKETING_VERSION = 11.3.1;
 				MODULEMAP_FILE = "";
 				PRODUCT_BUNDLE_IDENTIFIER = "com.launchdarkly.Darkly-tvOS";
 				PRODUCT_NAME = LaunchDarkly_tvOS;
@@ -1850,12 +1850,12 @@
 				CODE_SIGN_STYLE = Automatic;
 				DEFINES_MODULE = NO;
 				DYLIB_COMPATIBILITY_VERSION = 11.0.0;
-				DYLIB_CURRENT_VERSION = 11.3.0;
+				DYLIB_CURRENT_VERSION = 11.3.1;
 				DYLIB_INSTALL_NAME_BASE = "@rpath";
 				GCC_C_LANGUAGE_STANDARD = gnu11;
 				INFOPLIST_FILE = "$(PROJECT_DIR)/LaunchDarkly/LaunchDarkly/Support/Info.plist";
 				INSTALL_PATH = "$(LOCAL_LIBRARY_DIR)/Frameworks";
-				MARKETING_VERSION = 11.3.0;
+				MARKETING_VERSION = 11.3.1;
 				MODULEMAP_FILE = "";
 				PRODUCT_BUNDLE_IDENTIFIER = "com.launchdarkly.Darkly-tvOS";
 				PRODUCT_NAME = LaunchDarkly_tvOS;
@@ -1876,13 +1876,13 @@
 				COMBINE_HIDPI_IMAGES = YES;
 				DEFINES_MODULE = NO;
 				DYLIB_COMPATIBILITY_VERSION = 11.0.0;
-				DYLIB_CURRENT_VERSION = 11.3.0;
+				DYLIB_CURRENT_VERSION = 11.3.1;
 				DYLIB_INSTALL_NAME_BASE = "@rpath";
 				GCC_C_LANGUAGE_STANDARD = gnu11;
 				INFOPLIST_FILE = "$(PROJECT_DIR)/LaunchDarkly/LaunchDarkly/Support/Info.plist";
 				INSTALL_PATH = "$(LOCAL_LIBRARY_DIR)/Frameworks";
 				MACOSX_DEPLOYMENT_TARGET = 10.15;
-				MARKETING_VERSION = 11.3.0;
+				MARKETING_VERSION = 11.3.1;
 				PRODUCT_BUNDLE_IDENTIFIER = "com.launchdarkly.Darkly-macOS";
 				PRODUCT_NAME = LaunchDarkly_macOS;
 				SDKROOT = macosx;
@@ -1900,13 +1900,13 @@
 				COMBINE_HIDPI_IMAGES = YES;
 				DEFINES_MODULE = NO;
 				DYLIB_COMPATIBILITY_VERSION = 11.0.0;
-				DYLIB_CURRENT_VERSION = 11.3.0;
+				DYLIB_CURRENT_VERSION = 11.3.1;
 				DYLIB_INSTALL_NAME_BASE = "@rpath";
 				GCC_C_LANGUAGE_STANDARD = gnu11;
 				INFOPLIST_FILE = "$(PROJECT_DIR)/LaunchDarkly/LaunchDarkly/Support/Info.plist";
 				INSTALL_PATH = "$(LOCAL_LIBRARY_DIR)/Frameworks";
 				MACOSX_DEPLOYMENT_TARGET = 10.15;
-				MARKETING_VERSION = 11.3.0;
+				MARKETING_VERSION = 11.3.1;
 				PRODUCT_BUNDLE_IDENTIFIER = "com.launchdarkly.Darkly-macOS";
 				PRODUCT_NAME = LaunchDarkly_macOS;
 				SDKROOT = macosx;
@@ -1950,7 +1950,7 @@
 				CURRENT_PROJECT_VERSION = 1;
 				DEBUG_INFORMATION_FORMAT = dwarf;
 				DYLIB_COMPATIBILITY_VERSION = 11.0.0;
-				DYLIB_CURRENT_VERSION = 11.3.0;
+				DYLIB_CURRENT_VERSION = 11.3.1;
 				ENABLE_STRICT_OBJC_MSGSEND = YES;
 				ENABLE_TESTABILITY = YES;
 				FRAMEWORK_VERSION = K;
@@ -2021,7 +2021,7 @@
 				CURRENT_PROJECT_VERSION = 1;
 				DEBUG_INFORMATION_FORMAT = "dwarf-with-dsym";
 				DYLIB_COMPATIBILITY_VERSION = 11.0.0;
-				DYLIB_CURRENT_VERSION = 11.3.0;
+				DYLIB_CURRENT_VERSION = 11.3.1;
 				ENABLE_NS_ASSERTIONS = NO;
 				ENABLE_STRICT_OBJC_MSGSEND = YES;
 				FRAMEWORK_VERSION = K;
@@ -2057,13 +2057,13 @@
 				CODE_SIGN_IDENTITY = "";
 				DEFINES_MODULE = NO;
 				DYLIB_COMPATIBILITY_VERSION = 11.0.0;
-				DYLIB_CURRENT_VERSION = 11.3.0;
+				DYLIB_CURRENT_VERSION = 11.3.1;
 				DYLIB_INSTALL_NAME_BASE = "@rpath";
 				INFOPLIST_FILE = "$(PROJECT_DIR)/LaunchDarkly/LaunchDarkly/Support/Info.plist";
 				INSTALL_PATH = "$(LOCAL_LIBRARY_DIR)/Frameworks";
 				IPHONEOS_DEPLOYMENT_TARGET = 13.0;
 				LD_DYLIB_INSTALL_NAME = "$(DYLIB_INSTALL_NAME_BASE:standardizepath)/$(EXECUTABLE_PATH)";
-				MARKETING_VERSION = 11.3.0;
+				MARKETING_VERSION = 11.3.1;
 				MODULEMAP_FILE = "$(PROJECT_DIR)/Framework/module.modulemap";
 				PRODUCT_BUNDLE_IDENTIFIER = com.launchdarkly.Darkly;
 				PRODUCT_NAME = LaunchDarkly;
@@ -2080,13 +2080,13 @@
 				CODE_SIGN_IDENTITY = "";
 				DEFINES_MODULE = NO;
 				DYLIB_COMPATIBILITY_VERSION = 11.0.0;
-				DYLIB_CURRENT_VERSION = 11.3.0;
+				DYLIB_CURRENT_VERSION = 11.3.1;
 				DYLIB_INSTALL_NAME_BASE = "@rpath";
 				INFOPLIST_FILE = "$(PROJECT_DIR)/LaunchDarkly/LaunchDarkly/Support/Info.plist";
 				INSTALL_PATH = "$(LOCAL_LIBRARY_DIR)/Frameworks";
 				IPHONEOS_DEPLOYMENT_TARGET = 13.0;
 				LD_DYLIB_INSTALL_NAME = "$(DYLIB_INSTALL_NAME_BASE:standardizepath)/$(EXECUTABLE_PATH)";
-				MARKETING_VERSION = 11.3.0;
+				MARKETING_VERSION = 11.3.1;
 				MODULEMAP_FILE = "$(PROJECT_DIR)/Framework/module.modulemap";
 				PRODUCT_BUNDLE_IDENTIFIER = com.launchdarkly.Darkly;
 				PRODUCT_NAME = LaunchDarkly;
@@ -2129,12 +2129,12 @@
 				CODE_SIGN_STYLE = Automatic;
 				DEFINES_MODULE = NO;
 				DYLIB_COMPATIBILITY_VERSION = 11.0.0;
-				DYLIB_CURRENT_VERSION = 11.3.0;
+				DYLIB_CURRENT_VERSION = 11.3.1;
 				DYLIB_INSTALL_NAME_BASE = "@rpath";
 				GCC_C_LANGUAGE_STANDARD = gnu11;
 				INFOPLIST_FILE = "$(PROJECT_DIR)/LaunchDarkly/LaunchDarkly/Support/Info.plist";
 				INSTALL_PATH = "$(LOCAL_LIBRARY_DIR)/Frameworks";
-				MARKETING_VERSION = 11.3.0;
+				MARKETING_VERSION = 11.3.1;
 				PRODUCT_BUNDLE_IDENTIFIER = "com.launchdarkly.Darkly-watchOS";
 				PRODUCT_NAME = LaunchDarkly_watchOS;
 				SDKROOT = watchos;
@@ -2154,12 +2154,12 @@
 				CODE_SIGN_STYLE = Automatic;
 				DEFINES_MODULE = NO;
 				DYLIB_COMPATIBILITY_VERSION = 11.0.0;
-				DYLIB_CURRENT_VERSION = 11.3.0;
+				DYLIB_CURRENT_VERSION = 11.3.1;
 				DYLIB_INSTALL_NAME_BASE = "@rpath";
 				GCC_C_LANGUAGE_STANDARD = gnu11;
 				INFOPLIST_FILE = "$(PROJECT_DIR)/LaunchDarkly/LaunchDarkly/Support/Info.plist";
 				INSTALL_PATH = "$(LOCAL_LIBRARY_DIR)/Frameworks";
-				MARKETING_VERSION = 11.3.0;
+				MARKETING_VERSION = 11.3.1;
 				PRODUCT_BUNDLE_IDENTIFIER = "com.launchdarkly.Darkly-watchOS";
 				PRODUCT_NAME = LaunchDarkly_watchOS;
 				SDKROOT = watchos;
diff --git a/LaunchDarkly/LaunchDarkly/ServiceObjects/EnvironmentReporting/ReportingConsts.swift b/LaunchDarkly/LaunchDarkly/ServiceObjects/EnvironmentReporting/ReportingConsts.swift
index 46705ae5..7ef051fd 100644
--- a/LaunchDarkly/LaunchDarkly/ServiceObjects/EnvironmentReporting/ReportingConsts.swift
+++ b/LaunchDarkly/LaunchDarkly/ServiceObjects/EnvironmentReporting/ReportingConsts.swift
@@ -1,6 +1,6 @@
 import Foundation
 
 struct ReportingConsts {
-    static let sdkVersion = "11.3.0" // x-release-please-version
+    static let sdkVersion = "11.3.1" // x-release-please-version
     static let sdkName = "ios-client-sdk"
 }
diff --git a/README.md b/README.md
index 25ba6374..513f3fa9 100644
--- a/README.md
+++ b/README.md
@@ -50,7 +50,7 @@ To include LaunchDarkly in a Swift package, simply add it to the dependencies se
 <!-- x-release-please-start-version -->
 ```swift
 dependencies: [
-    .package(url: "https://github.com/launchdarkly/ios-client-sdk.git", .upToNextMajor(from: "11.3.0"))
+    .package(url: "https://github.com/launchdarkly/ios-client-sdk.git", .upToNextMajor(from: "11.3.1"))
 ]
 ```
 <!-- x-release-please-end -->