Risk Factors Update Summary
- Revenue decreased from $1,306.2 million in 2022 to $765.1 million in 2023.
- Connected machine revenue decreased by $54 million, or 21%, to $198 million in 2023.
- Sales and marketing spending increased from 10% to 16% of revenue in 2023.
- Accessories and materials revenue decreased by $98.5 million, or 27%, to $361.4 million in 2023.
- Employee headcount decreased from over 775 to over 690 employees by December 31, 2023.
- Workforce reduced from over 830 employees to over 690 employees by December 31, 2023.
- Cybersecurity incidents and breaches have become increasingly sophisticated, posing risks to operations.
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=1828962&owner=exclude
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