Risk Factors Update Summary
- The acquisition of Farfetch increases exposure to historical risks, including operational disruptions and financial challenges.
- Historical net losses include $(0.1) billion, $(1.5) billion, and $(0.5) billion for 2020, 2021, and 2022, respectively.
- Expansion into new geographies and offerings increases risks, including regulatory compliance and market volatility.
- Uncertainty exists regarding future profitability due to past net losses and potential inability to generate sufficient revenue.
- Increased cybersecurity threats and geopolitical tensions heighten the risk of cyber incidents.
- Ownership structure with Mr. Kim controlling 75% of voting power may affect company value.
- Changes in tax treatment may impact operations, with potential limitations on net operating loss carryforwards.
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=1834584&owner=exclude
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