Risk Factors Update Summary
- Employee growth accelerated, with a restructuring plan to terminate 30% of the workforce.
- New privacy laws like VCDPA and COPA require compliance, impacting operations and data security.
- Net losses increased significantly from $111.3 million in 2022 to $199.1 million in 2023.
- The company acquired VHT, Inc. for $35.5 million and implemented an acquisition integration process.
- Accumulated deficit increased from $468.1 million in 2022 to $579.778 million in 2023.
- The company faces legal challenges related to patent infringement and litigation with former stockholders.
- The company incurred non-cash losses of $27.5 million on warrants in 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.
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=1819394&owner=exclude
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