Company – Scrape Financial
Risk Factors Summary

Risk Factors Update Summary

  • Revenue declined to $345 million from $413 million, representing a 16% annual decline.
  • Licensed agent and broker base grew by approximately 14% from 10,370 to 11,795.
  • Mortgage business relies on liquidity in the secondary market, impacted by interest rate changes.
  • Experienced net losses of $27.6 million for the year ended December 31, 2023, compared to $12.5 million in 2022.
  • Potential future increases in the federal funds rate could impact business operations and profitability.
  • Identified material weaknesses in internal controls if revenue exceeds $1.235 billion annually.
  • Ownership of common stock may be influenced by significant shareholders, affecting trading price.

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=1753162&owner=exclude

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