Risk Factors Update Summary
- Increased focus on AI and LLMs in Taegis solutions, with potential flaws and legal risks.
- Net losses decreased from $114.5 million in fiscal 2023 to $86.0 million in fiscal 2024.
- Billing approximately 65% of recurring revenue in advance may lead to cash flow mismatches.
- Cybersecurity threats, including potential breaches, security incidents, and disruptions, pose significant risks.
- Operating expenses may increase as we expand, diversify customer base, impacting profitability.
- Revenue derived from financial services institutions decreased from 20% in fiscal 2023 to 17% in fiscal 2024.
- Declines in new or renewed contracts may not be overtly reflected in revenue, impacting future quarters.
- Potential impact of open-source technology on commercialization and restrictions on cybersecurity offerings.
- Failure to enhance Taegis solutions in response to evolving cyber-attacks could harm reputation.
- Revenue from subscription-based solutions decreased from 78% in fiscal 2023 to 83% in fiscal 2024.
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=1468666&owner=exclude
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