Risk Factors Update Summary
- Added regulatory risk related to the use of radioactive materials, non-compliance could materially affect business.
- Experienced disruptions, outages, and defects with quantum computing systems, research activities, and infrastructure. This could negatively impact operations and quality.
- Disclosed the use of radioactive materials subject to US and international regulations, potential liability.
- Potential negative impact from early obsolescence of quantum computing technology. This could hinder competitiveness.
- Increased net loss from operations in 2023, rising from $48 million to $157 million.
- Expansion challenges outlined, including managing growth, research acceleration, and sales efforts.
- Increased disclosure on data privacy regulations, evolving laws may conflict with practices.
- Difficulty reducing cost per qubit sufficiently may hinder competitive pricing of quantum systems.
- Accumulated deficit increased from $194 million to $352 million as of December 31, 2023.
- Need for additional capital highlighted due to uncertainties in production and delivery timelines.
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=1824920&owner=exclude
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