Risk Factors Update Summary
- Added risk of partner or customer failure to meet contractual obligations, with a $50 million dispute.
- Revenue concentration decreased, with top 10 clients accounting for 35% in 2023.
- Increased risks related to international operations, including legal, compliance, and regulatory challenges.
- Enhanced focus on legal and regulatory matters, including potential legal proceedings against breaching counterparties.
- Added climate change as a potential conflict trigger, expanding risk factors.
- Increased emphasis on cybersecurity risks, including advanced hacking tools and techniques.
- Settlement of class action litigation in California regarding worker classification, with potential future expenses.
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=1816233&owner=exclude
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