Risk Factors Update Summary
- Investments in large language models increase costs, impacting financial performance.
- One customer accounted for 10% of total revenues in 2023, down from 11% in 2022.
- Debt under the Revolving Credit Facility has a variable rate based on SOFR, potentially increasing borrowing costs.
- Revenues from non-U.S. customers accounted for 37% in 2023, down from 45% in 2022.
- A large portion of accounts receivable was due from three customers, down from five.
- The Agility segment relies on third parties for content, cessation could adversely affect revenue.
- Operating expenses resulted in losses, with net income ranging from $1 million to a loss of $3 million.
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=903651&owner=exclude
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