Risk Factors Update Summary
- Reported losses increased significantly from $52.8 million in 2022 to $63.3 million in 2023.
- Uncertainty in the U.S. and global economies may lead to delays or reductions in spending.
- Accumulated deficit rose from $546 million to $594 million as of December 31, 2023.
- Potential adverse impact on suppliers' ability to provide materials and components.
- Cash, cash equivalents, and short-term investments decreased from $159.3 million to $127.8 million.
- Increased risk due to potential limitations or burdensome conditions on future transactions.
- Increased shares of common stock issued and outstanding from 268 million to 389 million.
- Net proceeds from the ATM offering totaled $17.1 million, with 879,341 shares sold in January 2023.
- Increased costs incurred due to no longer being an "emerging growth company."
- Increased shares of common stock subject to options or equity awards from 216 million to 217 million.
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=1111485&owner=exclude
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