Risk Factors Update Summary
- Experienced net losses of $72.0 million in 2021 and $96.3 million in 2022, with a net loss of $34.6 million in 2023.
- Potential breaches or incidents could lead to significant liabilities and harm to business operations.
- Incorporating AI technology may harm business if not successful. $864,000 accrued for battery deficiencies.
- Revenue growth may slow, decline, or incur significant losses due to various factors.
- Potential increase in privacy laws and regulations across various states could impact operations.
- Failure to comply with ESG practices may result in additional costs and harm brand.
- Revenue in 2023 was more than 40% higher than in 2022, indicating significant revenue growth.
- Introduction of the CPRA in California and similar privacy laws in other states may increase liabilities.
- Expansion of international operations may subject company to various risks and uncertainties.
- Average contract term decreased from 2.6 years to 1.8 years, impacting revenue stability.
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=1837014&owner=exclude
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