Risk Factors Update Summary
- Revenue from foreign countries increased from 26% to 35%, impacting margins.
- Identified material weaknesses in internal controls over financial reporting were remediated.
- Sales to the USDA Forest Service and California decreased from 54% to 36%.
- A significant increase in AFFF cases from 2 to 6, with 1,300 cases naming the company.
- Transition from LIBOR to SOFR completed, no material impact on consolidated financial statements.
- Revenue derived from multiple contracts decreased from 34% to 31%.
- A switch in reference rates from LIBOR to SOFR occurred, affecting financial statements.
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=1880319&owner=exclude
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