Risk Factors Update Summary
- Commenced commercial shipments of Revio in the first quarter of 2023, expecting to commence shipments of Onso in the third quarter of 2023.
- Outstanding approximately $459.0 million in aggregate principal amount of 1.50% convertible senior notes due 2028 and $441.0 million in aggregate principal amount of 1.375% convertible senior notes due 2030.
- Leadership transitions since 2020, including new President and CEO, CFO, COO, CCO, CAO, and Chair of the Board.
- Increased competition with new entrants like Ultima Genomics, Element Biosciences, and Singular Genomics.
- Changes in customer revenue concentration, with no single customer accounting for 10% or more of total revenue in 2023.
- Risks related to geopolitical tensions, such as political uncertainty in the Middle East and the war in Ukraine.
- Increased focus on environmental, social, and governance (ESG) practices to align with evolving stakeholder expectations.
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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