Risk Factors Update Summary
- Net losses increased significantly from $112.7 million in 2022 to $176.3 million in 2023.
- Workforce reduction in January 2023 led to a decrease from 7,433 to 663 full-time employees.
- Accumulated deficit rose from $642 million to $818 million, a $176 million increase.
- Authorization of a workforce reduction in January 2023 may lead to unintended consequences and costs.
- Investment in the Black Economic Development Fund decreased from $8.2 million to $8 million.
- Acquisition of Clearbit, a B2B data provider, in December 2023 may impact operations.
- Failure to comply with evolving privacy laws, such as the CCPA and CPRA, could result in substantial costs.
- Implementation of the Restructuring Plan in January 2023 may not adequately reduce operating costs.
- Failure to preserve corporate culture post-organizational changes may negatively impact morale.
- Increased penalties under the UK GDPR for non-compliance may substantially impact the company.
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=1404655&owner=exclude
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