Risk Factors Update Summary
- Increased reliance on Pathward for loan originations, from 45% in 2022 to 46% in 2023.
- Borrowings of the Notes to the Consolidated decreased from 9,698,886 shares to 9,593,926 shares.
- Workforce reductions of approximately 10%, 19%, and 18% in 2023 may disrupt operations.
- The company's federal net operating loss carryforwards decreased from $189.1 million to $171.4 million.
- Net loss increased from $77 million in 2022 to $180 million in 2023 due to fair value decrease and higher debt costs.
- The company's state net operating loss carryforwards decreased from $199.0 million to begin expiring in 2030.
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=1538716&owner=exclude
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