Risk Factors Update Summary
- Compliance with evolving data laws requires significant expenditure and resources, potentially leading to liability.
- Net loss decreased significantly from $382 million to $84 million in 2023.
- Net operating loss carryforwards increased from approximately $121 million to $130 million.
- Expansion of state privacy laws, like the CPRA and VCDPA, increases regulatory complexity.
- Accumulated deficit increased from $570 million to $654 million in 2023.
- Impacted by a voluntary recall, operating results were reduced by $2.6 million.
- Accelerated vesting of RSUs resulted in $39 million of accelerated stock-based compensation in 2022.
- Total revenue decreased by 7% from 2022 to 2023.
- Increased demand for third-party extended warranties may lead to additional costs.
- Revenue decreased by 16% in 2023 compared to 2021.
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=1857853&owner=exclude
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