Risk Factors Update Summary
- Net losses increased from $81.9 million in 2022 to $126.2 million in 2023.
- Increased state privacy laws: At least eleven states have passed comprehensive privacy laws similar to CCPA and CPRA.
- Capital expenditure requirements extended to the second half of 2027 from 2025.
- Data transfer challenges: Uncertainty around EU-U.S. Data Privacy Framework may impact international business.
- Accumulated deficit rose from $160 million to $286 million as of December 31, 2023.
- Increased employee costs: Labor shortages and rising inflation have substantially increased employee-related costs.
- Increased full-time employees: The number of full-time employees increased from 62 to 92.
- Increased federal NOLs: Available federal NOL carryforwards increased from $91 million to $123 million.
- Increased state NOLs: Available state NOL carryforwards increased from $90 million to $144 million.
- Transition out of emerging growth status: Increased legal, accounting, and other expenses due to transition out of "emerging growth company" status.
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=1861560&owner=exclude
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