Risk Factors Update Summary
- Price increases announced in Q3 2023 led to some customer storage decline, impacting retention and revenue.
- Accumulated deficit increased from $87 million to $147 million as of December 31, 2023.
- Sales and marketing investments were planned to accelerate business scaling in 2023.
- Headcount reduced in 2023 for cost efficiency, aiming to align with strategic initiatives.
- Net operating loss carryforwards for federal income tax increased from $63 million to $91.4 million.
- Net operating loss carryforwards for state income tax increased from $33.5 million to $66 million.
- Increased focus on cybersecurity measures due to evolving attacks and potential geopolitical tensions.
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=1462056&owner=exclude
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