Company – Scrape Financial
Risk Factors Summary

Risk Factors Update Summary

  • Revenue growth decreased from a CAGR of 26% to 8% from 2020 to 2023.
  • Cash, cash equivalents, and restricted cash increased from $95 million in 2022 to $96 million in 2023.
  • The company is now a "controlled company" with sponsor stockholders owning 6% more common stock.
  • Legal proceedings could have a material adverse effect on operating results or financial condition.
  • Revenue increased from $620 million in 2022 to $675 million in 2023.
  • Net cash provided by operating activities increased from $64.8 million in 2022 to $104.6 million in 2023.
  • The sponsor stockholders agreement now holds approximately 6% more common stock.
  • The company now depends on independent contractors in Jordan and Israel for software development.
  • Net loss increased from $59.8 million in 2022 to $82.0 million in 2023.
  • Acquisitions increased from 52 to 53 since April 2017, impacting growth and risks.
  • The company filed statements on Form S-8 instead of a registration statement.
  • A putative class action lawsuit was filed against the company and its Board of Directors.
  • Total addressable market increased from $662 billion in 2020 to $1.3 trillion in 2023.
  • Advance notice procedures now apply for stockholders before an annual meeting.

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=1853145&owner=exclude

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