Risk Factors Update Summary
- Increased bitcoin holdings from 132,000 to 190,000 bitcoins, acquired at $3.993 billion.
- Increased bitcoins held from 117,610 to 173,069, with a carrying value of $3.610 billion.
- Net loss increased from $535.5 million in 2021 to $1.470 billion in 2022.
- Regulatory scrutiny may increase due to FTX collapse, impacting digital asset industry regulations.
- Sold $29 billion of class A common stock through at-the-market equity offering programs.
- Deferred tax assets decreased from $757.6 million to $511.4 million.
- Enhanced focus on cybersecurity due to potential cyberattacks and security breaches.
- Reduced outstanding borrowings from $205.0 million to $137 million under the Credit and Security Agreement.
- Digital assets on balance sheet decreased from $1.840 billion to $1.326 billion.
- Market price of class A common stock increased from $298.769 to $40.88 as of February 14, 2024.
- Increased international revenues from 40% to 42% of total revenues for the year ended December 31, 2023.
- Increased total product licenses revenues from $13 million to $8 million for the year ended December 31, 2023.
- Increased deferred revenue and advance payments from $230 million to $236 million as of December 31, 2023.
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.
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