Risk Factors Update Summary
- Incorporating AI and machine learning may result in reputational harm or liability, impacting efficiency and profitability.
- Revenue decreased from $471.8 million in 2024 to $355.4 million in 2023.
- Failure to maintain effective internal controls over financial reporting could lead to investor confidence loss.
- Net loss increased from $130.4 million in 2024 to $140.7 million in 2023.
- Ownership change: Class B common stock ownership decreased from 84% to 78% voting power.
- Accumulated deficit increased from $353 million in 2023 to $483 million in 2024.
- The company granted 2 additional patents, totaling 25 patents related to its platform.
- The company completed the SOC 2 Type 2 examination for security certifications.
- The company had net operating loss carryforwards of approximately $281 million for federal and $182.4 million for state income tax purposes.
- The company expanded international operations to include subsidiaries in Canada and France.
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=1676238&owner=exclude
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