Risk Factors Update Summary
- Net losses decreased from $176.1 million to $136.9 million in 2023, improving financial performance.
- Recurring revenue growth covenants require maintaining specified levels, impacting financial performance.
- Operating losses decreased from $176.6 million to $136.5 million in 2023, indicating operational improvement.
- Borrowing capacity under the revolving line of credit decreased from $100 million to $50 million in 2024.
- Payments platform revenue decreased from 28% to 27% of total revenue in 2024, impacting revenue mix.
- Cash and cash equivalents increased from $87 million to $176 million in 2024, strengthening liquidity.
- Cash used in operating activities decreased from $90 million to $32 million in 2024, improving cash flow.
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=1412408&owner=exclude
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