Risk Factors Update Summary
- Revenue increased from $135.2 million in 2022 to $138.1 million in 2023, with a declining growth rate.
- Added class claims to potential risks, increasing litigation exposure and potential fines.
- Net losses decreased from $70.8 million in 2022 to $42.2 million in 2023.
- Increased focus on strengthening corporate culture following negative publicity and CEO departure.
- Increased potential fines under UK GDPR to €17.5 million pounds sterling.
- Accumulated deficit increased from $198 million in 2022 to $240 million in 2023.
- Changes in management, including the departure of the former CEO, may disrupt business operations.
- Enhanced focus on data privacy laws, including GDPR, with potential fines up to 4% of annual global revenue.
- Pending U.S. patent applications rose from 12 to 16, with a total of 16 U.S. granted patents.
- Ongoing litigation, including stockholder class action lawsuits, could result in substantial costs and distractions.
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=1625641&owner=exclude
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