IZEA on Nasdaq

IZEA Worldwide, Inc.

American advertising services company based in Orlando, listed on Nasdaq (IZEA)2

In its 2026 annual report the company says: “We offer solutions that range from creator agency services to creator technologies to a marketplace that connects marketers with creators. The Company provides value through managing custom content workflow, creator search and targeting, bidding, analytics, and payment processing. It also enables creators to monetize their content, creativity, and influence through global brands and marketers.”4

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Last updated Oct 20, 2026.

Overview

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  • TickerIZEA on Nasdaq2
  • IndustryServices-Advertising2
  • HeadquartersOrlando, United States2
  • Incorporated inNV3
  • Business address1317 Edgewater Dr #1880, Orlando, Fl 328043
  • Filer categoryNon-accelerated filer, Smaller reporting company3
  • Legal formProfit Corporation2
  • LEI549300ZNN8UBT1IUHO612
  • StatusActive2
  • LEI statusIssued and current2
  • Registered addressc/o CORPORATION SERVICE COMPANY, 112 NORTH CURRY STREET, 89703 Carson City, United States2
  • Registered withBusiness Center (Secretary of State), E0127052010-32

Our mission is to make creator economy solutions for marketers. We offer solutions that range from creator agency services to creator technologies to a marketplace that connects marketers with creators. By fostering these connections, we light up the creator economy with IZEAs – social-first content, made by creators, that are culturally relevant and move at the speed of culture.4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

-6.0%Operating margin5
0.1%Net margin5
-12.9%Revenue growth, 20255
0.1%Return on equity5
0.00×Debt to equity5
$2.4MFree cash flow5

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Sponsored Social Revenue brought in 88% of the revenue IZEA Worldwide, Inc. broke down this way in fiscal 2025.

  1. Sponsored Social Revenue$27.4M588%down 10% from 2024
  2. Content Revenue$3.6M512%down 20% from 2024
  3. SaaS Services Segment Revenue$213.3K51%down 74% from 2024
Products and services by year
Products and services20242025
Sponsored Social Revenue$30.6M$27.4M
Content Revenue$4.5M$3.6M
SaaS Services Segment Revenue$823.0K$213.3K

Regions

North America brought in 91% of the revenue IZEA Worldwide, Inc. broke down this way in fiscal 2025.

  1. North America$28.6M591%down 3% from 2024
  2. Asia Pacific$2.4M58%down 56% from 2024
  3. Other$257.6K51%down 77% from 2024
Regions by year
Regions20242025
North America$29.4M$28.6M
Asia Pacific$5.4M$2.4M
Other$1.1M$257.6K

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue52¢$16.2M
  • Other costs48¢$15.0M
  • Profit0¢$42.3K

Out of $31.2M in revenue.5

Where each dollar of operating cash went, fiscal 2025

  • Capital spending2¢$56.7K
  • Kept or used elsewhere98¢$2.4M

Out of $2.4M of cash from operations.5

Financial statements

Revenue6789105$31.2M in 2025+65% since 2019
0$20.0M$40.0M$60.0M2019: $19.0M$19.0M20192020: $18.0M$18.0M2020−5%2021: $30.0M$30.0M2021+67%2022: $41.1M$41.1M2022+37%2023: $36.2M$36.2M2023−12%2024: $35.9M$35.9M2024−1%2025: $31.2M$31.2M2025−13%
Operating income6789105-$1.9M in 2025−74% since 2019
-$20.0M-$15.0M-$10.0M-$5.0M02019: -$7.2M-$7.2M20192020: -$10.5M-$10.5M2020+46%2021: -$5.4M-$5.4M2021−49%2022: -$5.6M-$5.6M2022+5%2023: -$9.9M-$9.9M2023+76%2024: -$19.5M-$19.5M2024+97%2025: -$1.9M-$1.9M2025−90%
Net income6789105$42.3K in 2025
-$20.0M-$15.0M-$10.0M-$5.0M0$5.0M2019: -$7.3M-$7.3M20192020: -$10.5M-$10.5M2020+44%2021: -$3.1M-$3.1M2021−70%2022: -$4.5M-$4.5M2022+42%2023: -$7.3M-$7.3M2023+64%2024: -$18.9M-$18.9M2024+157%2025: $42.3K$42.3K2025

Every line of the income statement as filed: the last 2 fiscal years, latest first.5

Period ending2025-12-312024-12-31
Revenue$31.2M$35.9M
Cost of revenue$16.2M$21.2M
Sales and marketing$4.3M$12.1M
General and administrative$11.9M$16.7M
Depreciation and amortization$636.4K$1.2M
Impairment of goodwill$0$4.1M
Total costs and expenses$33.1M$55.4M
Income (loss) from operations-$1.9M-$19.5M
Change in the fair value of digital assets$0$28.4K
Interest expense-$6.4K-$8.1K
Loss on divestiture$0-$2.3M
Other income (expense), net$1.9M$2.5M
Total other income (expense), net$1.9M$234.0K
Net income (loss) before income taxes$42.3K-$19.2M
Tax benefit$0$394.6K
Net income (loss)$42.3K-$18.9M
Weighted average common shares outstanding - basic (in shares)17.3M shares17.1M shares
Basic income (loss) per common share (in dollars per share)$0.00-$1.10
Weighted average common shares outstanding - diluted (in shares)18.3M shares17.1M shares
Diluted income (loss) per common share (in dollars per share)$0.00-$1.10

Compare IZEA Worldwide, Inc. with another company

Corporate structure

IZEA Worldwide, Inc. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of IZEA Worldwide, Inc.

  • GP Investments, Ltd. Filed SC 13D/A on IZEA Worldwide, Inc., latest Sep 10, 2024 (5 filings since Mar 1, 2024)
  • G10 Capital Ltd Filed SC 13G/A on IZEA Worldwide, Inc., latest Jun 5, 2024 (2 filings since Oct 4, 2023)
  • IZEA Worldwide, Inc. Orlando, Florida, United States

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What IZEA Worldwide, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Computer equipment and software$3.7M5 Dec 31, 2025$2.9M5 Dec 31, 2024+26.0%
Property and equipment, before depreciation$293.8K5 Dec 31, 2025$316.3K5 Dec 31, 2024−7.1%
Accumulated depreciation$276.7K5 Dec 31, 2025$212.7K5 Dec 31, 2024+30.1%
Property and equipment, net$17.1K5 Dec 31, 2025$103.6K5 Dec 31, 2024−83.5%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$50.9M5 Dec 31, 2025$44.6M5 Dec 31, 2024+14.0%
Marketable securities, current$05 Dec 31, 2025$6.4M5 Dec 31, 2024−100.0%
Marketable securities, non-current$010 Dec 31, 2024$9.6M10 Dec 31, 2023−100.0%
Debt securities available for sale$51.1M10 Dec 31, 2024
Long-term investments$010 Dec 31, 2024$9.6M10 Dec 31, 2023−100.0%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$05 Dec 31, 2025$05 Dec 31, 2024
Indefinite-lived intangibles (excluding goodwill)$010 Dec 31, 2024$162.9K10 Dec 31, 2023−100.0%
Finite-lived intangibles, gross$010 Dec 31, 2024$1.8M10 Dec 31, 2023−100.0%
Accumulated amortization$010 Dec 31, 2024$16.1K10 Dec 31, 2023−100.0%
Finite-lived intangibles, net$05 Dec 31, 2025$05 Dec 31, 2024

Properties, in its own words

As a virtual-first employer, we do not have any leased properties. Our corporate mailing address is 1317 Edgewater Dr. #1880, Orlando, Florida 32804.

Item 2 of the 10-K filed Mar 17, 2026.4

Leadership

Who has led IZEA Worldwide, Inc., and when. Pick a name to see everywhere that person has worked.

Board members and other officers (10)

Former names

  • IZEA, Inc.May 25, 2012 to Aug 20, 20183
  • IZEA Holdings, Inc.May 27, 2011 to May 18, 20123
  • Rapid Holdings Inc.Jul 1, 2010 to May 17, 20113

Timeline

  1. Aug 11, 20268-K Results of operations30
  2. May 15, 20268-K Entered a material agreement31
  3. May 12, 20268-K Results of operations32
  4. Mar 17, 20268-K Results of operations33
  5. Dec 11, 20258-K Shareholder vote34
  6. Dec 11, 20258-K Shareholder vote35
  7. Nov 12, 20258-K Results of operations36
  8. Aug 12, 20258-K Results of operations37
  9. Jun 18, 20258-K Entered a material agreement38
  10. Jun 18, 20258-K Entered a material agreement39
  11. May 13, 20258-K Results of operations40
  12. Mar 27, 20258-K Results of operations41
  13. Sep 10, 2024New chief executive Patrick James Venetucci becomes CEO14
  14. Mar 2, 2016New chief executive Edward H. Murphy becomes CEO15
  15. Mar 22, 2010Founded IZEA Worldwide, Inc. is founded2

Calendar

Coming up

  1. Nov 11, 2026Reports results for the quarter ending Sep/202642

When it reported results

  1. Aug 11, 2026Reported quarterly or annual results30
  2. May 12, 2026Reported quarterly or annual results32
  3. Mar 17, 2026Reported quarterly or annual results33
  4. Nov 12, 2025Reported quarterly or annual results36
  5. Aug 12, 2025Reported quarterly or annual results37
  6. May 13, 2025Reported quarterly or annual results40
  7. Mar 27, 2025Reported quarterly or annual results41
  8. Nov 14, 2024Reported quarterly or annual results43

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

398 filings to the SEC since October 2021: 7 annual reports, 15 quarterly reports, 60 major events, 282 insider forms, 7 large holders, 27 other. The latest 20:

  1. Oct 1, 20264 EDGAR
  2. Oct 1, 20264 EDGAR
  3. Oct 1, 20264 EDGAR
  4. Oct 1, 20264 EDGAR
  5. Oct 1, 20264 EDGAR
  6. Oct 1, 20264 EDGAR
  7. Oct 1, 20264 EDGAR
  8. Sep 1, 20264 EDGAR
  9. Aug 11, 202610-Q EDGAR
  10. Aug 11, 20268-K EDGAR
  11. Aug 3, 20264 EDGAR
  12. Aug 3, 20264 EDGAR
  13. Jul 1, 20264 EDGAR
  14. Jul 1, 20264 EDGAR
  15. Jul 1, 20264 EDGAR
  16. Jul 1, 20264 EDGAR
  17. Jul 1, 20264 EDGAR
  18. Jul 1, 20264 EDGAR
  19. Jul 1, 20264 EDGAR
  20. Jun 1, 20264 EDGAR

The 398 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

23 open-market trades by officers, directors and large owners since October 2021: 19 buys and 4 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Aug 29, 2025GARDNER LINDSAY ADirectorBuy500$4.00$2.0KForm 4
Sep 20, 2024Schram Ryan SChief Operating OfficerSale2,782$2.50$7.0KForm 4
Sep 12, 2024GARDNER LINDSAY ADirectorBuy10,000$2.69$26.9KForm 4
May 16, 2024GP Investments, Ltd.10% ownerBuy178,330$2.77$494.0KForm 4
May 14, 2024GP Investments, Ltd.10% ownerBuy928,114$3.20$3.0MForm 4
May 10, 2024GP Cash Management, Ltd.10% ownerBuy102$3.14$320Form 4
May 9, 2024GP Cash Management, Ltd.10% ownerBuy38,021$3.06$116.3KForm 4
May 3, 2024GP Cash Management, Ltd.10% ownerBuy1,427$3.00$4.3KForm 4
May 2, 2024GP Cash Management, Ltd.10% ownerBuy7,744$2.99$23.2KForm 4
May 1, 2024GP Cash Management, Ltd.10% ownerBuy20,059$2.87$57.6KForm 4
Apr 26, 2024GP Investments, Ltd.10% ownerBuy61,598$2.78$171.2KForm 4
Apr 25, 2024GP Investments, Ltd.10% ownerBuy11,481$2.59$29.7KForm 4
Apr 24, 2024GP Investments, Ltd.10% ownerBuy28,258$2.48$70.1KForm 4
Apr 17, 2024GP Cash Management, Ltd.10% ownerBuy516$2.50$1.3KForm 4
Apr 16, 2024GP Cash Management, Ltd.10% ownerBuy6,620$2.50$16.6KForm 4
Dec 14, 2023GARDNER LINDSAY ADirectorSale700$2.21$1.5KForm 4
Dec 13, 2023GARDNER LINDSAY ADirectorSale4,700$2.19$10.3KForm 4
Dec 12, 2023Murphy Edward HChief Executive OfficerBuy2,000$2.19$4.4KForm 4
Dec 8, 2023Murphy Edward HChief Executive OfficerBuy2,000$2.44$4.9KForm 4
Aug 30, 2023Murphy Edward HChief Executive OfficerSale82$2.01$165Form 4

All 23 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2024Edward H. (Ted) MurphyFormer Chief Executive Officer, Founder$318.8K$2.8M46
2024Patrick J. VenetucciChief Executive Officer57$162.1K$1.7M46
2024Ryan S. SchramFormer President and Chief Operating Officer$300.0K$1.4M46
2024Peter J. BiereTreasurer and Chief Financial Officer69$320.0K$664.9K46
2023Edward H. (Ted) MurphyFormer Chief Executive Officer, Founder$352.1K$967.4K46
2023Ryan S. SchramFormer President and Chief Operating Officer$337.6K$718.1K46
2023Peter J. BiereTreasurer and Chief Financial Officer69$317.3K$529.5K46
2022Edward H. (Ted) MurphyFormer Chief Executive Officer, Founder$316.5K$714.9K46
2022Ryan S. SchramFormer President and Chief Operating Officer$305.8K$665.2K46
2022Peter J. BiereTreasurer and Chief Financial Officer69$250.0K$367.7K46

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 31. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Vanguard Capital Management LLC551,271$2.0M0.0%−498
BlackRock, Inc.242,009$895.4K0.0%+10,659
Geode Capital Management, LLC141,878$525.1K0.0%+4,640
ARS Investment Partners, LLC117,064$433.1K0.0%−65
Renaissance Technologies LLC101,240$374.6K0.0%−46,500
Dimensional Fund Advisors LP73,970$273.7K0.0%+11,079
Vanguard Fiduciary Trust Co72,052$266.6K0.0%+498
State Street Corp56,862$210.4K0.0%No change
Goldman Sachs Group Inc39,181$145.0K0.0%−1,302
NewEdge Advisors, LLC37,051$137.1K0.0%+32,604
Citadel Advisors LLC35,836$132.6K0.0%New
XTX Topco Ltd27,861$103.1K0.0%−1,240
Cannell & Spears LLC25,000$92.5K0.0%No change
Diversify Advisory Services, LLC27,665$92.1K0.0%New
Diversify Wealth Management, LLC27,665$92.1K0.0%No change
Jane Street Group, LLC21,584$79.9K0.0%−17,339
Morgan Stanley15,943$59.0K0.0%No change
Northern Trust Corp13,066$48.3K0.0%+1,311
Vanguard Global Advisers, LLC6,603$24.4K0.0%No change
Royal Bank Of Canada2,257$8.0K0.0%+346
Simplex Trading, LLC1,622$6.0K0.0%New
Tower Research Capital LLC (TRC)1,327$4.9K0.0%+307
Strategic Investment Solutions, Inc. /IL1,250$4.6K0.0%No change
UBS Group AG389$1.4K0.0%+165
Barclays PLC125$4630.0%New

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How IZEA Worldwide, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARIZEA Worldwide, Inc.1
  • CIK0001495231
  • Employer ID (EIN)37-15307654
  • Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company4
  • Incorporated inNevada4
  • Fiscal year endsDecember 311
  • Industry code (SIC)7310 Services-Advertising1
  • SEC reviewing officeOffice of Trade & Services, Division of Corporation Finance1
  • Business address1317 Edgewater Dr #1880, Orlando, FL 328041
  • Phone407-674-69111
  • Shares outstanding17,416,286 as of Aug 6, 202612
  • Public float$32.9M as of Jun 28, 20254
  • AuditorGRANT THORNTON LLP, Charlotte, North Carolina PCAOB ID 248; no auditor attestation of internal control over financial reporting4
  • On EDGAR sinceJul 1, 20101
  • Filings980 in all: 4 (483), 8-K (206), 10-Q (49), 3 (22), UPLOAD (21), S-1/A (18), CORRESP (17), EFFECT (16)1
    All 43 form types

    10-K (15), SC 13G (12), SC 13G/A (11), DEF 14A (10), DEFA14A (9), 4/A (8), 424B5 (8), POS AM (8), S-8 (8), S-1 (7), 8-K/A (6), 10-Q/A (5), S-3 (4), 10-K/A (3), 424B3 (3), 5 (3), D (3), 3/A (2), 424B4 (2), 8-A12B (2), NT 10-Q (2), SC 13D (2), SC 13D/A (2), SC TO-I/A (2), 144 (1), 424B1 (1), ARS (1), CERTNAS (1), DEL AM (1), NT 10-K (1), PRE 14A (1), RW (1), S-8 POS (1), SC TO-C (1), SC TO-I (1)

  • Latest filingsAnnual report (10-K) Mar 17, 2026
    Quarterly report (10-Q) Aug 11, 2026
    Proxy statement (DEF 14A) Oct 29, 2025
    Latest 8-K (8-K) Aug 11, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, par value $0.0001 per shareIZEANasdaq

From the cover page of the 10-K filed Mar 17, 2026 (Section 12(b) of the Exchange Act).4

Risk factors and legal proceedings

The risks IZEA Worldwide, Inc. names in Item 1A of its 10-K filed Mar 17, 2026: 39 risks under these headings, as written.4

  • Risks Related to our Business and Industry
  • We have a history of annual net losses, expect future losses, and cannot assure you that we will achieve profitability.
  • A few of our customers account for a significant portion of our gross revenue and accounts receivable, and the loss of, or reduced purchases from, these or other customers could have a material adverse effect on our operating results.
  • We may engage in acquisitions that could be difficult to integrate, divert the attention of key personnel, cause dilution to our shareholders and harm our financial condition and operating results.
  • We are a remote workforce, which subjects us to certain operational challenges, costs, risks, and potential harm to our business.
  • We make numerous estimates or judgments relating to our critical accounting policies and these estimates create complexity in our accounting. If our accounting is erroneous or based on assumptions that change or prove to be incorrect, our operating results could change from investor expectations, which could cause our stock price to fall.
  • If we fail to maintain an effective system of disclosure controls and internal control over financial reporting, our ability to produce timely and accurate financial statements or comply with applicable laws and regulations could be impaired.
  • Historically, we have not relied upon patents to protect our proprietary technology, and our competitors may be able to offer similar products and services, which would harm our competitive position.
  • If third parties claim that we infringe their intellectual property rights, it may result in costly litigation.
  • Intense competition in our target markets could impair our ability to grow and to achieve profitability.
  • Our total number of user accounts may be higher than the number of our actual individual marketers or creators and may not be representative of the number of persons who are active users.
  • Delays in releasing enhanced versions of our products and services could adversely affect our competitive position.
The other 28 risks
  • We rely on third-party social media platforms to provide the mechanism necessary to deliver influencer marketing, and any change in the platform terms, costs, availability, access, algorithmic ranking, or display policies could adversely affect our business.
  • Our business depends on continued and unimpeded access to the Internet by us and by our customers and their end-users. Internet access providers or distributors may be able to block, degrade or charge for access to our content, which could lead to additional expenses to us and our customers and the loss of end-users and advertisers.
  • Fluctuations in foreign currency exchange rates could result in unanticipated losses that could adversely affect our results of operations and financial position.
  • New tax treatment of companies engaged in Internet commerce may adversely affect the commercial use of our services and our financial results.
  • We may become subject to government regulation and legal uncertainties that could reduce demand for our products and services or increase the cost of doing business, thereby adversely affecting our financial results.
  • Our influencer marketing business is subject to the risks associated with word-of-mouth advertising and endorsements, such as violations of “truth-in-advertising” laws, the FTC Endorsement Guide, and other similar global regulatory requirements and, more generally, loss of consumer confidence.
  • Failure to comply with federal, state, and international privacy laws and regulations, or the expansion of current or the enactment of new privacy laws or regulations, could adversely affect our business.
  • Our business depends on third-party tracking mechanisms in order to measure the performance of sponsored content and influencer campaigns. To the extent that the industry shifts away from third-party tracking mechanisms, our business could be adversely affected.
  • Our business depends on a strong brand, and if we are not able to maintain and enhance our brand, or if we receive unfavorable media coverage, our ability to expand our base of creators and marketers will be impaired and our business and operating results will be harmed.
  • Our business depends on our ability to maintain and scale the network infrastructure necessary to operate our platforms and applications, and any significant disruption in service on our platforms and applications could result in a loss of creators or marketers.
  • If our security measures are breached, or if our services are subject to attacks that degrade or deny the ability of users to access our platforms, our platforms and applications may be perceived as not being secure, marketers and creators may curtail or stop using our services, and we may incur significant legal and financial exposure.
  • If our technology platforms contain defects, we may need to suspend their availability and our business and reputation would be harmed.
  • Some aspects of our business processes include open-source software, which poses risks that could have a material and adverse effect on our business, financial condition, and results of operations. In addition, any failure to comply with the terms of one or more of these open-source licenses, or lawsuits enjoining the use of such licensed software, could negatively affect our business.
  • Our use of AI in our solutions may expose us to heightened cybersecurity risks, regulatory uncertainty and potential liability that could adversely affect our business.
  • We may be subject to lawsuits for information published on our websites or by our marketers or creators, which may adversely affect our business.
  • If we fail to detect click-fraud or other invalid clicks, we could lose the confidence of our marketers and advertising partners as a result of lost revenue to marketers or misappropriation of proprietary and confidential information, thereby causing our business to suffer.
  • The influencer and content marketing industry is subject to rapid technological change and, to compete, we must continually enhance our products and services.
  • If we are unable to attract and retain qualified personnel, we may not be able to successfully manage our business and achieve our objectives.
  • Provisions in our charter, Nevada law and our Rights Agreement may discourage potential acquirers of the Company.
  • Risks Relating to our Common Stock
  • Our common stock may be delisted if we fail to maintain compliance with the requirements for continued listing on the Nasdaq Capital Market, and the price of our common stock and our ability to access the capital markets could be negatively impacted.
  • We have raised and may raise in the future, additional capital to meet our business requirements and such capital raising may be costly or difficult to obtain and could dilute current stockholders’ ownership interests.
  • Exercises of stock options, warrants, and other securities will dilute your percentage of ownership and could cause our stock price to fall.
  • If securities or industry analysts do not publish or cease publishing research or reports about us, our business, or our market, or if they adversely change their recommendations regarding our stock, our stock price and trading volume could decline.
  • Our earnings are subject to substantial quarterly and annual fluctuations and to market downturns.
  • The price of our common stock in the public markets has experienced, and may in the future experience, extreme volatility due to a variety of factors, many of which are beyond our control.
  • General Risks
  • Adverse macroeconomic or market conditions may harm our business.
  • Geopolitical instability, including ongoing conflicts in Ukraine and the Middle East and broader global tensions, may adversely affect global economic conditions and capital markets, which could have a material negative impact on our business, results of operations, financial condition, and cash flows in the future.
  • Public company compliance may make it more difficult to attract and retain officers and directors.

Legal proceedings

From time to time, we may become involved in lawsuits and other legal proceedings arising in the ordinary course of our business. Litigation is subject to inherent uncertainties and adverse results in any litigation that may occur from time to time that may harm our business. As of March 12, 2026, we are not party to any legal proceedings or claims that we believe would or could have, individually or in the aggregate, a material adverse effect on us.

The opening of Item 3, Legal Proceedings.4

Sources

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