understate

verb

1. (transitive)To state (something) with less completeness than needed; to minimise or downplay.

   “To call this decision a calculated bet understates the risk; it is a Hail Mary pass.”

2. (transitive)To state (something) with an intentional lack of emphasis, in order to express irony.

   “She is the queen of understatement: she understated her critique masterfully.”

3. To state a quantity that is too low.

   “The company had been understating its liabilities for years.”