Risk Factors Update Summary
- Accumulated deficit increased from $345 million to $376 million, with net losses of $30 million.
- Revenue impact experienced throughout 2021 and early 2022, particularly in U.S. treatment session revenues.
- Transitioned to a new contract manufacturer in 2023 for console production, impacting operational efficiency.
- Net operating loss carryforwards decreased from $338 million federal and $217 million state to $312 million federal and $197 million state.
- Increased revenue from $55.3 million to $65.2 million in 2021, with a growth rate of 18%.
- Entered into a $50.0 million credit facility in 2023, with restrictions on operations and potential default risks.
- Loss of emerging growth company status increases disclosure obligations and potential stock volatility.
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=1227636&owner=exclude
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