Risk Factors Update Summary
- Revenue grew from $1,858 million to $2,263 million, an increase of 22% from fiscal 2023 to fiscal 2024.
- Directors and affiliates reduced aggregate voting power from 7% to 4% in 2024.
- Net losses were $266 million in fiscal 2021, $848 million in fiscal 2022, and $815 million in fiscal 2023, and $355 million in fiscal 2024.
- Added digital services taxes to potential tax liabilities in various jurisdictions.
- Quarterly fluctuations in revenue and operating expenses are expected to significantly increase over the next several years.
- Market price fluctuated from $12 to $38 per share from 2022 to 2023.
- Workforce reductions of approximately 300 and 400 full-time employees were announced in fiscal 2024 and fiscal 2025.
- Customer growth has slowed, potentially falling below analyst expectations, impacting revenue and operations.
- Increased scrutiny of environmental, social, and governance factors may impact business operations and financial performance.
- Expansion into new markets may be hindered by data localization laws, increasing costs and limiting growth potential.
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=1660134&owner=exclude
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