Risk Factors Update Summary
- Revenue declined from $321.8 million in 2022 to $280.3 million in 2023, a 13% decrease.
- Privacy laws in Delaware, Indiana, Iowa, Montana, Oregon, Tennessee, and Texas effective from July 1, 2024 through 2026.
- Net loss increased from $76 million in 2022 to $190 million in 2023.
- Entered a license agreement for predictive analysis software iBox for kidney allograft loss.
- Share repurchases: Purchased 2,942,997 shares for $27.5 million in 2023, with $21.9 million remaining.
- Accumulated deficit rose from $460 million in 2022 to $678 million in 2023.
- Received FDA approval for updated AlloMap using Roche platform, reducing reliance on ABI 7900.
- Stock ownership: Certain stockholders increased aggregate ownership from 66% to 2%.
- Medicare reimbursement rate for AlloSure Kidney decreased from $2,753 to $841.
- Revenue growth declined from 2022 to 2023, impacting financial performance.
- Repurchase Program: $21.9 million available for future repurchases as of December 31, 2023.
- Material weaknesses in internal control over financial reporting not remediated as of December 31, 2023.
- Impact of wars in Ukraine and Israel on global economy, energy supplies, and inflation.
- Monitoring and developing contingency plans for fluid situations to address potential impacts.
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=1217234&owner=exclude
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