몽고DB(MDB) 2026.07 분기보고서 리스크 변화

이번 보고서

2026.07 분기보고서

10-Q · 기간 말 2026. 7. 31. · 제출 2026. 9. 1.

비교 기준

2026.04 분기보고서

10-Q · 기간 말 2026. 4. 30.

SEC 원문 ↗

새 리스크 항목

신규 문단

수정 문단

삭제

+2%

분량 변화

AI 한국어 요약

한 줄 요약

MongoDB는 이번 분기 리스크 요인에서 AI 관련 위험을 크게 늘렸습니다. AI 위험을 핵심 요약 항목으로 올렸고, AI 기반 취약점 탐지 확산, 사내 에이전틱 AI 통제, EU '디지털 주권', 'AI 수혜주' 인식 문제를 새로 적었습니다.

주목할 변화

강화AI 불확실성을 핵심 리스크로 격상리스크 요약(Risk Factors Summary)에 AI·ML의 확산과 상업화가 "inherently uncertain"하다는 항목이 새로 들어갔습니다. 분기 실적 변동 요인에도 "our ability to utilize and build AI and ML capabilities"가 추가됐습니다. AI 활용이 "may not produce the desired benefits"일 수 있다는 문장도 새로 생겼습니다.
신규AI 취약점 탐지 도구 확산에 따른 보안 부담AI 도구가 소프트웨어 취약점을 더 빠르고 싸게 찾아내면서 공격자의 진입 장벽이 낮아질 수 있다고 봤습니다("lower the level of technical sophistication required for threat actors"). 이 경우 패치·보안 릴리스에 자원을 급히 더 써야 해 신기능 개발 여력이 줄 수 있다고 적었습니다.
신규사내 생성형·에이전틱 AI 도입의 통제 리스크회사는 개발·보안 테스트 등 내부 업무에 AI 도입을 늘리고 있다고 밝혔습니다. 다만 도입 속도가 보안·거버넌스 체계 구축보다 빠를 수 있다고 인정했습니다("may outpace our ability to develop, implement and enforce"). 직원·외주업체의 승인되지 않은 AI 사용으로 기밀·고객 정보가 노출될 위험도 언급했습니다.
신규에이전틱 AI의 예측 불가능성AI 에이전트가 "operate unpredictably, exceed their prescribed authorizations" 할 수 있다는 위험이 AI 윤리·규제 항목에 추가됐습니다.
신규EU '디지털 주권' 정책EU 등에서 현지 기업이 소유·통제하는 클라우드·데이터·AI 인프라를 선호하는 흐름("digital sovereignty")을 새 리스크로 적었습니다. 이 때문에 현지 경쟁사가 우대받고, 특히 EU 공공부문 조달 경쟁이 제한될 수 있다고 봤습니다.
신규'AI 수혜주' 여부에 대한 시장 인식주가 변동성 요인에 AI가 소프트웨어 기업에 미치는 영향, 특히 회사가 "perceived as an AI beneficiary"인지에 대한 투자자 인식이 추가됐습니다.

읽는 법

이번 변경의 거의 전부가 AI와 관련돼 있습니다. 회사는 AI를 기회로만 보지 않고 보안 비용 증가, 내부 통제, 시장 평가라는 세 방향의 위험으로 구체화하기 시작했습니다. 특히 취약점 대응 부담이 신기능 개발 자원을 잠식할 수 있다는 언급과 EU 공공조달 경쟁 제약은 사업 운영과 직결되는 내용입니다. 향후 보고서에서 보안 관련 지출이나 유럽 지역 사업에 대한 설명이 어떻게 달라지는지 함께 지켜볼 만합니다.

원문 비교

신규Our future quarterly results may fluctuate significantly and if we fail to meet the expectations of analysts or investors, the trading price of our common stock could decline substantially.
•our ability to utilize and build AI and ML capabilities into our business and incorporate AI and ML into our internal operations;
신규If we or our third-party service providers experience a security breach or other security incident, or unauthorized access to personal, proprietary, confidential or other sensitive data is otherwise obtained, our software may be perceived as not being secure, customers may reduce or terminate their use of our software and we may face litigation, regulatory investigations, significant liability and reputational damage.
We anticipate that AI-powered tools capable of identifying software vulnerabilities more quickly and cheaply than traditional methods will become increasingly available. While such tools may improve our own ability to detect and remediate vulnerabilities, their broader availability may also increase the rate at which vulnerabilities are identified in software generally, including in our own systems and products and in third-party software that we incorporate, and may lower the level of technical sophistication required for threat actors to identify and exploit such vulnerabilities before we or other affected parties are able to remediate them. If the pace at which vulnerabilities are identified accelerates, we may need to devote substantially greater resources to patching, regression testing and re-validation of our software on short notice, which could reduce the resources available for new feature development and other enhancements to our platform, require us to increase the frequency of our security releases, and could adversely affect our results of operations.
신규We are subject to stringent and evolving U.S. and foreign laws, regulations, rules, standards, contractual obligations, policies and other obligations particularly related to data privacy and security. Our actual or perceived failure to comply with such obligations could lead to regulatory investigations or actions; litigation; fines and penalties; a disruption of our business operations; reputational harm; loss of revenue or profits; and other adverse business consequences.
In addition, “digital sovereignty” has emerged as a policy priority in the European Union and certain other jurisdictions, reflecting a preference for cloud, data and AI infrastructure that is owned, operated or otherwise controlled by entities based within their own jurisdictions. These developments could result in preferential treatment for competitors that are based in, or that establish greater operational independence within, the relevant jurisdictions, and could limit our ability to compete for public sector and other procurements, particularly in the European Union. If we are unable to satisfy evolving digital sovereignty requirements or customer preferences, whether due to the cost or feasibility of establishing local infrastructure, operations or corporate structures, or otherwise, our competitive position, business, results of operations and financial condition could be adversely affected.
신규Social, ethical, security and regulatory issues relating to the use of new and evolving technologies, such as AI and ML, in our offerings or partnerships may result in reputational harm and liability.
We are also increasingly deploying, and expect to continue to increasingly deploy, generative and agentic AI tools internally to support our own operations, including software development, security testing, and other business functions. The pace at which such tools are being introduced and adopted, both by us and more broadly across the technology industry, may outpace our ability to develop, implement and enforce corresponding security, access control and governance measures. Our employees, contractors and vendors may adopt or use such AI tools, including through unauthorized or unsanctioned means, before we have had the opportunity to assess and mitigate the associated risks, which could result in the exposure of our or our customers' confidential, proprietary or personal information, interactions with unauthorized data sources or external tools, non-compliance with our internal security policies or applicable law, or other operational failures that may be difficult to detect or remediate through our traditional oversight mechanisms. Any of the foregoing could harm our reputation and adversely affect our business, results of operations and financial condition.
신규The trading price of our common stock has been and is likely to continue to be volatile, which could cause the value of our common stock to decline.
•investor and market perceptions regarding the impact of AI on software and technology companies, including whether we are perceived as an AI beneficiary;
수정Risk Factors Summary
•We may fail to meet our publicly announced guidance or other expectations about our business and future operating results, which would cause the trading price of our common stock ~~price~~ to decline.
수정Risk Factors Summary
•The broader adoption, use, and commercialization of artificial intelligence (“AI”) and machine learning (“ML”) technologies, and the continued rapid pace of developments in the AI and ML field, are inherently uncertain. The use of AI and ML technologies in our product offerings and internal operations may not produce the desired benefits, and may result in increased reputational harm, or other adverse consequences.
수정We have a history of losses and as our costs increase, we may not be able to generate sufficient revenue to achieve or sustain profitability.
We have generated net income of ~~$4.4~~ $45.4 million for the ~~three~~ six months ended ~~April 30,~~ July 31, 2026 and net losses of $71.2 million, $129.1 million, and $176.6 million for the fiscal years ended January 31, 2026, 2025 and 2024, respectively. We had an accumulated deficit of ~~$1,907.4~~ $1,866.5 million as of ~~April 30,~~ July 31, 2026. While we have experienced significant growth in revenue in recent periods, and have achieved profitability during certain periods, we cannot assure you when or whether we will reach sustained profitability. We expect our operating expenses to increase significantly as we increase our sales and marketing efforts, continue to invest in research and development and expand our operations and infrastructure, both domestically and internationally. In particular, we have entered into non-cancelable multi-year capacity commitments with respect to cloud infrastructure services with certain third-party cloud providers, which require us to pay for such capacity irrespective of actual usage. In addition, we have incurred and expect to continue to incur significant additional legal, accounting and other expenses related to being a public company. While our revenue has grown in recent years, if our revenue declines or fails to grow at a rate faster than these increases in our operating expenses, we will not be able to achieve and maintain profitability in future periods. As a result, we expect to continue to generate losses. We cannot assure you that we will achieve profitability in the future or that, if we do become profitable, we will be able to sustain profitability.
수정If we are not able to introduce new features or services successfully and to make enhancements to our software or services, our business and results of operations could be adversely affected.
Our ability to attract new customers and increase revenue from existing customers depends in part on our ability to enhance and improve our software and to introduce new features and services. To grow our business and remain competitive, we must continue to enhance our software and develop features that reflect the constantly evolving nature of technology and our customers’ needs. For instance, with the development of next-generation solutions that utilize new and advanced features, including ~~artificial intelligence (“AI”)~~ AI and ~~machine learning (“ML”),~~ ML, we may be required to commit significant resources to developing new products, enhancements and developments. The success of new products, enhancements and developments depends on several factors: our anticipation of market changes and demands for product features, including timely product introduction and conclusion, sufficient customer demand, cost effectiveness in our product development efforts and the proliferation of new technologies that are able to deliver competitive products and services at lower prices, more efficiently, more conveniently or more securely. In addition, because our software is designed to operate with a variety of systems, applications, data and devices, we will need to continuously modify and enhance our software to keep pace with changes in such systems. We may not be successful in developing these modifications and enhancements. Furthermore, the addition of features and solutions to our software will increase our research and development expenses. Any new features that we develop may not be introduced in a timely or cost-effective manner or may not achieve the market acceptance necessary to generate sufficient revenue to justify the related expenses. It is difficult to predict customer adoption of new features. Such uncertainty limits our ability to forecast our future results of operations and subjects us to a number of challenges, including our ability to plan for and model future growth. If we cannot address such uncertainties and successfully develop new features, enhance our software or otherwise overcome technological challenges and competing technologies, our business and results of operations could be adversely affected.
수정Our future quarterly results may fluctuate significantly and if we fail to meet the expectations of analysts or investors, the trading price of our common stock could decline substantially.
Our future quarterly results may fluctuate significantly and if we fail to meet the expectations of analysts or investors, the trading price of our common stock ~~price~~ could decline substantially.
수정We have experienced rapid growth in recent periods. If we fail to continue to grow and to manage our growth effectively, we may be unable to execute our business plan, increase our revenue, improve our results of operations, maintain high levels of service, or adequately address competitive challenges.
We have experienced rapid growth in our business, operations and employee headcount. For fiscal years 2026, 2025 and 2024, our total revenue was $2,463.8 million, $2,006.4 million, ~~and~~ $1,683.0 million, respectively, representing a 23%, 19%, ~~and~~ 31% growth rate, respectively. In addition, for the ~~three~~ six months ended ~~April 30,~~ July 31, 2026 and 2025, our total revenue was ~~$687.6~~ $1,459.4 million and ~~$549.0~~ $1,140.4 million, respectively, representing a ~~25%~~ 28% growth rate. We have also significantly increased the size of our customer base from over 3,200 customers as of January 31, 2017, the year we began operating as a public company, to over ~~67,700~~ 70,600 customers as of ~~April 30,~~ July 31, 2026, and we grew from 713 employees as of January 31, 2017 to ~~5,695~~ 5,783 employees as of ~~April 30,~~ July 31, 2026. Our success will depend in part on our ability to continue to grow and to manage this growth, domestically and internationally, effectively.
수정We could incur substantial costs in obtaining, maintaining, protecting, defending or enforcing our intellectual property rights and any failure to obtain, maintain, protect, defend or enforce our intellectual property rights could reduce the value of our software and brand.
Our success and ability to compete depend in part upon our intellectual property rights. As of ~~April 30,~~ July 31, 2026, we had ~~103~~ 106 issued patents and 44 46 pending patent applications in the United States. Patent applications may not result in issued patents and even if a patent issues, we cannot assure you that such patent will be adequate to protect our business. In addition to patent protection, we primarily rely on copyright and trademark laws, trade secret protection and confidentiality or other contractual arrangements with our employees, customers, partners and others to protect our intellectual property rights. However, the steps we take to protect our intellectual property rights may not be adequate and we may be unable to detect the unauthorized use of, or prevent third parties from infringing, misappropriating or otherwise violating, our intellectual property rights. In order to protect our intellectual property rights, we may be required to spend significant resources to establish, monitor and enforce such rights. Litigation brought to enforce our intellectual property rights could be costly, time-consuming and distracting to management and could be met with defenses, counterclaims and countersuits attacking the validity and enforceability of our intellectual property rights. Additionally, because of the substantial amount of discovery required in connection with intellectual property litigation, there is a risk that some of our confidential information could be compromised by disclosure during this type of litigation. An adverse determination of any litigation proceedings could put our intellectual property at risk of being invalidated, interpreted narrowly or held unenforceable and could put our related intellectual property at risk of not issuing or being canceled. The local laws of some foreign countries do not protect our intellectual property rights to the same extent as the laws of the United States and effective intellectual property protection and mechanisms may not be available in those jurisdictions. We may need to expend additional resources to defend our intellectual property in these countries and our inability to do so could impair our business or adversely affect our international expansion. Our patent applications and patents arising from any patent applications we may file in the future may never be granted and, even if we are successful in obtaining effective protection, it is expensive to maintain these rights, both in terms of application and maintenance costs, and the time and cost required to defend our rights could be substantial. Additionally, the process of obtaining patent protection is expensive and time-consuming, and we may be unable to prosecute all necessary or desirable patent applications at a reasonable cost or in a timely manner. Even if we are able to secure our intellectual property rights, there can be no assurances that such rights will provide us with competitive advantages or distinguish our products and services from those of our competitors or that our competitors will not independently develop similar technology.
수정Because our long-term growth strategy involves sales to customers outside the United States, our business is susceptible to risks associated with international operations.
A significant portion of our revenue is derived internationally and we are susceptible to risks related to our international operations. Total revenue generated from customers outside the United States was 46% during each of the fiscal years ended January 31, 2026, 2025 and 2024, of our total revenue. We currently have international offices outside of North America in Europe, the Middle East and Africa (“EMEA”), the Asia-Pacific region and South America, focusing primarily on selling our products and services in those regions. In addition, we expanded our reach in China in February 2021 when we announced a global partnership with Tencent Cloud that allows customers to easily adopt and use MongoDB-as-a-Service across Tencent’s global cloud infrastructure. In the future, we may continue to expand our presence in these regions or expand into other international locations. Our current international operations and future initiatives involve a variety of risks, including risks associated with:
수정Our business is subject to the risks of earthquakes, fire, floods, pandemics and public health emergencies and other natural catastrophic events and to interruption by man-made problems such as power disruptions, security breaches or other security incidents, or terrorism.
As of ~~April 30,~~ July 31, 2026, we have customers in over 100 countries and employees in over 25 countries. A significant natural disaster or man-made problem, such as an earthquake, fire, flood, an act of terrorism, the regional or global outbreak of a contagious disease, such as the COVID-19 pandemic, or other catastrophic event occurring in any of these locations, could adversely affect our business, results of operations and financial condition. Further, if a natural disaster or man-made problem were to affect data centers used by our cloud infrastructure service providers this could adversely affect the ability of our customers to use our products. In addition, natural disasters, regional or global outbreaks of contagious diseases and acts of terrorism could cause disruptions in our or our customers’ businesses, national economies or the world economy as a whole. Moreover, these types of events could negatively impact consumer and business spending in the impacted regions or depending upon the severity, globally, which could adversely impact our operating results. For example, the COVID-19 pandemic and/or the precautionary measures that we, our customers, and the governmental authorities adopted resulted in operational challenges, including, among other things, adapting to new work-from-home arrangements. More generally, a catastrophic event could adversely affect economies and financial markets globally and lead to an economic downturn, which could decrease technology spending and adversely affect demand for our products and services. Any prolonged economic downturn or a recession could materially harm our business and operating results and those of our customers, could result in business closures, layoffs, or furloughs of, or reductions in the number of hours worked by, our and our customer's employees, and a significant increase in unemployment in the United States and elsewhere. Such events may also lead to a reduction in the capital and operating budgets that we or our customers have available, which could harm our business, financial condition, and operating results. As we experienced during the COVID-19 pandemic, the trading prices for our and other technology companies' common stock may be highly volatile as a result of a catastrophic event, which may reduce our ability to access capital on favorable terms or at all. In the event of a major disruption caused by a natural disaster or man-made problem, we may be unable to continue our operations and may endure system interruptions, reputational harm, delays in our development activities, lengthy interruptions in service, data breaches or other security incidents and loss of critical data, any of which could adversely affect our business, results of operations and financial condition.
수정Social, ethical, security and regulatory issues relating to the use of new and evolving technologies, such as AI and ML, in our offerings or partnerships may result in reputational harm and liability.
Social, ethical, security and regulatory issues relating to the use of new and evolving technologies such as AI and ML, including generative and agentic AI and AI models, in our offerings, internal operations or partnerships, may result in reputational harm and liability, and may cause us to incur additional research and development costs to resolve such issues. The use of generative and agentic AI, relatively new and emerging technologies in the early stages of commercial use, exposes us to additional risks, such as damage to our reputation, competitive position, and business, legal and regulatory risks and additional costs. For example, generative AI has been known to produce false or “hallucinatory” inferences or output, and certain generative AI uses machine learning and predictive analytics, which can create inaccurate, incomplete, or misleading content, unintended biases, and other discriminatory or unexpected results, errors or inadequacies, any of which may not be easily detectable by us or any of our related service providers. The use of agentic AI, which is designed to perform tasks and make decisions with limited human intervention, introduces additional risks, including the potential for AI agents to operate unpredictably, exceed their prescribed authorizations, or fail to align with internal policies or legal obligations. As with many innovations, AI and ML presents risks and challenges that could affect its adoption, and therefore our business. Our offerings based on AI and ML may expose us to additional claims, demands and proceedings by private parties and regulatory authorities and subject us to legal liability as well as brand and reputational harm.
수정The broader adoption, use, and commercialization of AI and ML technologies, and the continued rapid pace of developments in the AI and ML field, are inherently uncertain. The use of AI and ML technologies in our product offerings and internal operations may not produce the desired benefits, and may result in increased reputational harm, or other adverse consequences.
The broader adoption, use, and commercialization of AI and ML technologies, and the continued rapid pace of developments in the AI and ML field, are inherently uncertain. The use of AI and ML technologies in our product offerings and internal operations may not produce the desired benefits, and may result in increased reputational harm, or other adverse consequences.
수정The trading price of our common stock has been and is likely to continue to be volatile, which could cause the value of our common stock to decline.
Technology stocks have historically experienced high levels of volatility. The trading price of our common stock has been and is likely to continue to be volatile. Factors that could cause fluctuations in the trading price of our common stock include the following:
수정The trading price of our common stock has been and is likely to continue to be volatile, which could cause the value of our common stock to decline.
In addition, if the market for technology stocks or the stock market in general experiences a loss of investor confidence, the trading price of our common stock could decline for reasons unrelated to our business, results of operations or financial condition. The trading price of our common stock might also decline in reaction to events that affect other companies in our industry even if these events do not directly affect us. In the past, following periods of volatility in the trading price of a company’s securities, securities class action litigation has often been brought against that company. If the trading price of our common stock ~~price~~ is volatile, we may become the target of securities litigation. Securities litigation could result in substantial costs and divert our management’s attention and resources from our business. This could have an adverse effect on our business, results of operations and financial condition.
수정We may fail to meet our publicly announced guidance or other expectations about our business and future operating results, which would cause the trading price of our common stock to decline.
We may fail to meet our publicly announced guidance or other expectations about our business and future operating results, which would cause the trading price of our common stock ~~price~~ to decline.
수정We do not intend to pay dividends on our common stock for the foreseeable future.
We have never declared or paid any dividends on our ~~capital~~ common stock. We intend to retain any earnings to finance the operation and expansion of our business and we do not anticipate paying any dividends in the foreseeable future. As a result, investors in our common stock may only receive a return if the market price of our common stock increases.
수정Sales of substantial amounts of our common stock in the public markets, or the perception that they might occur, could cause the trading price of our common stock to decline.
Sales of substantial amounts of our common stock in the public markets, or the perception that they might occur, could cause the ~~market~~ trading price of our common stock to decline.
수정There can be no assurance that we will repurchase shares of our common stock or that we will repurchase shares at favorable prices.
Our ability to make share repurchases, if any, will depend upon market conditions, cash balances and future capital requirements, results of operations, financial condition, compliance with applicable legal requirements and other factors that we may deem relevant and which may be beyond our control. In addition, we can provide no assurance that we will repurchase common stock at favorable prices, if at all. As a result, there can be no guarantee around the timing of our share repurchases. Any failure to repurchase common stock after we have announced our intention to do so, a reduction in the frequency of repurchases, or the completion of our Share Repurchase Program could have a negative effect on our reputation, investor confidence in us and the trading price of our ~~stock price.~~ common stock.
수정There can be no assurance that we will repurchase shares of our common stock or that we will repurchase shares at favorable prices.
The existence of our Share Repurchase Program could cause the trading price of our common stock ~~price~~ to be higher than it otherwise would be and could potentially reduce the market liquidity for our common stock. Although our Share Repurchase Program is intended to enhance long-term stockholder value, there is no assurance that it will do so because the ~~market~~ trading price of our common stock may decline below the levels at which we repurchase shares, and short-term stock price fluctuations could reduce the effectiveness of the program.
문장 삭제Because our long-term growth strategy involves sales to customers outside the United States, our business is susceptible to risks associated with international operations.
In the fiscal years ended January 31, 2026, 2025 and 2024, total revenue generated from customers outside the United States was 46%, 46%, and 46%, respectively, of our total revenue.
사소We currently face significant competition and expect that intense competition will continue.
The database software market, for both relational and non-relational database products, is highly competitive and rapidly evolving, and others may put out competing databases or sell services in connection with existing open source or source available databases, including ours. The principal competitive factors in our market include: mindshare with software developers and information technology (“IT”) executives; product capabilities, including flexibility, scalability, performance, security and reliability; flexible deployment options, including fully managed as a service or self-managed in the cloud, ~~on-premises~~ on- premises or in a hybrid environment and ease of deployment; breadth of use cases supported; ease of integration with existing IT infrastructure; robustness of professional services and customer support; price and total cost of ownership; adherence to industry standards and certifications, including cybersecurity standards and certifications; size of customer base and level of user adoption; strength of sales and marketing efforts; and brand awareness and reputation. If we fail to compete effectively with respect to any of these competitive factors, we may fail to attract new customers or lose or fail to renew existing customers, which would cause our business and results of operations to suffer.
사소Our future quarterly results may fluctuate significantly and if we fail to meet the expectations of analysts or investors, the trading price of our common stock could decline substantially.
The occurrence of one or more of the foregoing and other factors may cause our results of operations to vary significantly and be materially and adversely affected. For example, fluctuations in our quarterly operating results and the trading price of our common stock may be particularly pronounced in the current economic environment due to the ongoing geopolitical instability resulting from the conflict in Iran, the unrest in Mexico, the conflicts between Russia and Ukraine, Israel and Hamas and recent events in Venezuela, continued restrictive monetary policy in certain markets in which we operate, declines in consumer confidence, declines in economic growth, persistent inflation, and uncertainty about economic stability. It is especially difficult to predict the impact of such events on the global economic markets, which have been and will continue to be highly dependent upon the actions of governments, businesses, and other enterprises in response to macroeconomic events, and the effectiveness of those actions. Any of these factors or any combination thereof could materially and adversely affect our business, results of operations and financial condition. We also intend to continue to invest to grow our business and to take advantage of our market opportunity. Accordingly, historical patterns and our results of operations in any one quarter may not be meaningful and should not be relied upon as indicative of future performance. Additionally, if our quarterly results of operations fall below the expectations of investors or securities analysts who follow our stock, the trading price of our common stock could decline substantially and we could face costly lawsuits, including securities class action suits. See the section titled “Legal Proceedings” included in Part II, Item 1 of this Quarterly Report on Form 10-Q.
사소We are subject to stringent and evolving U.S. and foreign laws, regulations, rules, standards, contractual obligations, policies and other obligations particularly related to data privacy and security. Our actual or perceived failure to comply with such obligations could lead to regulatory investigations or actions; litigation; fines and penalties; a disruption of our business operations; reputational harm; loss of revenue or profits; and other adverse business consequences.
Following the exit of the U.K. from the European Union (“E.U.”), the GDPR was transposed into U.K. law (the “U.K. GDPR”) as supplemented by the U.K. Data Protection Act 2018, which currently imposes the same obligations as the GDPR in most material respects. Failure to comply with the U.K. GDPR can result in fines up to a maximum of £17.5 million or 4% of the entity’s total worldwide global turnover for the preceding financial year, whichever is higher. However, the U.K. GDPR will not automatically incorporate changes made to the GDPR going forward (which would need to be specifically incorporated by the U.K. government). Moreover, the U.K. government has adopted reforms to its data privacy and cybersecurity legal framework in its Data (Use and Access) Act 2025, which became law on June 19, 2025 ~~(phasing~~ (phased in between June 2025 and June 2026) and which will introduce significant changes from the GDPR, all of which creates a risk of divergent parallel regimes and related uncertainty, along with the potential for increased compliance costs and risks for affected businesses.
사소If 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 regulations could be impaired.
We are required, pursuant to SEC rules that implement Section 404 of the Sarbanes-Oxley Act, to furnish a report by management on, among other things, the effectiveness of our internal control over financial reporting on an annual basis. This assessment includes disclosure of any material weaknesses identified by our management in our internal control over financial reporting. In addition, we are required to have our independent registered public accounting firm issue an opinion on the effectiveness of our internal control over financial reporting on an annual basis. During the evaluation and testing process, if we identify one or more material weaknesses in our internal control over financial reporting, we will be unable to assert that our internal control over financial reporting is effective. If we are unable to assert that our internal control over financial reporting is effective, or if our independent registered public accounting firm is unable to express an opinion on the effectiveness of our internal control over financial reporting, we could lose investor confidence in the accuracy and completeness of our financial reports, which could have an adverse effect on our business and results of operations and could cause a decline in the trading price of our common stock and we may be subject to investigation or sanctions by the SEC.
사소The enactment of legislation implementing changes in U.S. taxation of international business activities or the adoption of other tax reform policies could materially impact our financial position and results of operations.
We continue to monitor the impact of new global and U.S. tax legislation and reform measures, including its potential to impact on our effective tax rate and income tax expense. We may in the future experience an increase in our income tax expense, especially if we are not able to maintain a full valuation allowance on our U.S. deferred tax assets or utilize a material portion of the NOLs reflected on our balance sheet. See “—Our ability to use our net operating losses to offset future taxable income may be subject to certain limitations.” Any increase in our income tax expense could have a negative effect on our financial condition and results of operations. Changes in global and U.S. tax legislation which may lead to other impacts, including on the U.S. federal income tax considerations relating to the purchase, ownership and disposition of our common stock.
사소Social, ethical, security and regulatory issues relating to the use of new and evolving technologies, such as AI and ML, in our offerings or partnerships may result in reputational harm and liability.
For example, if we or our third-party AI providers do not have sufficient rights to use the data or other material or content on which AI tools rely, or the output generated by our use of such AI tools, we may incur liability through the violation of such laws, third-party intellectual property, privacy or other rights, or contracts to which we are a party. Moreover, use of ~~generative~~ AI in our code development process, while offering various potential benefits, could also pose certain ownership and security risks with respect to our codebase, given the current legal uncertainties relating to ownership of AI- or ML-generated works and the potential for security flaws in output code. If any of our employees, contractors, vendors or service providers use any third-party AI-powered software in connection with our business or the services they provide to us, it may lead to the inadvertent disclosure of our confidential information, including inadvertent disclosure of our confidential information into publicly available third-party training sets, which may impact our ability to realize the benefit of, or adequately maintain, protect and enforce our intellectual property or confidential information, harming our competitive position and business. Our ability to mitigate risks associated with disclosure of our confidential information, including in connection with AI and ML-powered software, will depend on our implementation, maintenance, monitoring and enforcement of appropriate technical and administrative safeguards, policies and procedures governing the use of AI and ML in our business.
사소Social, ethical, security and regulatory issues relating to the use of new and evolving technologies, such as AI and ML, in our offerings or partnerships may result in reputational harm and liability.
Moreover, any content created by us using generative or agentic AI tools may not be subject to copyright protection which may adversely affect our intellectual property rights in, or ability to commercialize or use, any such content. In the United States, a number of civil lawsuits have been initiated related to the foregoing and other concerns, the outcome of any one of which may, amongst other things, require us to limit the ways in which we use AI in our business. For example, the output produced by generative AI tools may include information subject to certain rights of publicity or privacy laws or constitute an unauthorized derivative work of the copyrighted material used in training the underlying AI model, any of which could also create a risk of liability for us, or adversely affect our business or operations. Our business, financial condition and results of operations may be adversely affected if content, recommendations, solutions or features or their development or deployment (including the collection, use, or other processing of data used to train or create such AI and ML solutions or features) are found to have or alleged to have infringed upon or misappropriated third-party intellectual property rights or violate applicable laws, regulations, or other actual or asserted legal obligations to which we are or may become subject.
사소We may fail to meet our publicly announced guidance or other expectations about our business and future operating results, which would cause the trading price of our common stock to decline.
We release earnings guidance in our quarterly and annual earnings conference calls, quarterly and annual earnings releases, or otherwise, regarding our future performance that represents our management’s estimates as of the date of release. This guidance includes forward-looking statements based on projections prepared by our management. Projections are based upon a number of assumptions and estimates that, while presented with numerical specificity, are inherently subject to significant business, economic and competitive uncertainties and contingencies on our business, many of which are beyond our control and are based upon specific assumptions with respect to future business decisions, some of which will change. Some of those key assumptions relate to the macroeconomic environment, including inflation and interest rates, which are inherently difficult to predict. We intend to state possible outcomes as high and low ranges which are intended to provide a sensitivity analysis as variables are changed but are not intended to imply that actual results could not fall outside of the suggested ranges. The principal reason that we release guidance is to provide a basis for our management to discuss our business outlook with analysts and investors. Furthermore, analysts and investors may develop and publish their own projections of our business, which may form a consensus about our future performance. Our actual business results may vary significantly from such guidance or that consensus due to a number of factors, many of which are outside of our control, including due to the global economic uncertainty and financial market volatility, instability in the banking sector, the ongoing geopolitical instability resulting from the conflict in Iran, the unrest in Mexico, the conflicts between Russia and Ukraine and Israel and Hamas and recent events in Venezuela, severely diminished liquidity and credit availability, declines in consumer confidence, declines in economic growth, increases in unemployment rates, increases in inflation rates, higher interest rates and uncertainty about economic stability, any of which or combination thereof could materially and adversely affect our business and future operating results. Furthermore, if we make downward revisions of our previously announced guidance, if we withdraw our previously announced guidance, or if our publicly announced guidance of future operating results fails to meet expectations of securities analysts, investors or other interested parties, the trading price of our common stock would decline.
사소Sales of substantial amounts of our common stock in the public markets, or the perception that they might occur, could cause the trading price of our common stock to decline.
Sales of a substantial number of shares of our common stock into the public market, particularly sales by our directors, executive officers, and principal stockholders, or the perception that these sales might occur, could cause the ~~market~~ trading price of our common stock to decline.