Risk Factors Update Summary
- Fluctuations in quarterly operating results: Revenue increased from $618 million in 2022 to $881 million in 2023.
- Legal proceedings impact: Lawsuits filed by Vivint and EcoFactor could result in significant damages and royalties.
- Growth in full-time employees: Increased from 989 as of December 31, 2022, to 1,404 as of December 31, 2023.
- Change in corporate minimum tax rate: Global minimum tax rate set at 15% for companies with revenues of at least $790 million.
- Change in revenue distribution: Top 10 revenue service provider partners accounted for 45% of revenue in 2023.
- Change in goodwill and intangible assets: Decreased from $233.6 million in 2022 to $230.1 million in 2023.
- Change in hardware revenue composition: Inventory represented 21% of hardware revenue in 2023, down from 35% in 2022.
Full Text Changes in Most Recent 10-K
Intended use: review the highlighted statements. These are additions to the risk factors disclosure in the most recent 10-K filing compared to the previous 10-K filing. Deleted and moved text is less important and is shown for context.
To view the full company filings, click on the following link to be taken to the SEC EDGAR database landing page for the company: https://www.sec.gov/edgar/browse/?CIK=1459200&owner=exclude
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