Risk Factors Update Summary
- Increased patent applications from 31 to 27 in the U.S. and Brazil.
- Added risk of disruptions due to past and potential future bank failures affecting access to deposits and lending commitments.
- Added risks related to the use of generative AI tools and potential legal liabilities.
- Increased accumulated deficit from $92 million to $95 million as of December 31, 2023.
- Decrease in the common stock repurchase program utilization from $25.0 million to $5.6 million.
- Net loss increased from $62 million to $74 million for the year ended December 31, 2023.
- Acquisition of SafePointe in August 2023 added to the risks related to business expansion.
- Potential decrease in demand due to rising inflation rates and increased operating costs.
- Acquisition of Forensic Logic in January 2022 and SafePointe in August 2023 impacting financial results.
- Increased risks related to the use of generative AI technologies and potential operational challenges.
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=1351636&owner=exclude
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