What changed in this filing

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Item 1A. Risk Factors

2025-08-13 compared with 2025-06-06 · 35 added, 6 removed, 0 unchanged (100% of the section changed)

operations and financial results are subject to various risks and uncertainties that could adversely affect our business, financial condition,

results of operations, cash flows, and the trading price of our common shares.

For risk factors that may cause actual results to differ

materially from those anticipated, please refer to “Item 1A.

Risk Factors” of our Annual Report on Form 10-K for the year

ended December 31, 2024.

connection with information set forth in this Form 10-Q, the factors discussed below and under “Risk Factors” in our Form

10-K for fiscal year ended December 31, 2024, should be considered.

The risks included below and in the Form 10-K could materially and

adversely affect our business, financial condition and results of operations.

than as set forth below, there have been no material changes to the factors discussed in our Annual Report on Form 10-K for the year

ended December 31, 2024, which was filed with the Securities and Exchange Commission on April 17, 2025.

business could be adversely affected by legislative or government budgetary and spending changes.

market for our services depends largely on domestic and international legislative programs and the budgetary capability to support programs,

including the continuance of existing programs.

Many of our contracts are not fully funded at inception and rely upon future appropriations

Accordingly, a failure to receive additional anticipated funding may result in early termination of a contract.

many of our contracts include clauses that allow clients to unilaterally modify or terminate contracts with little or no recompense.

Decreases in funding for, or delays in contract awards and in government spending on the types of programs that we support, and terminations

or price reductions on government contracts on which we are currently performing could adversely affect our future revenues and profitability.

in state or federal government initiatives or in the level of government spending due to budgetary or deficit considerations may have

a significant impact on our future financial performance.

In recent quarters, the U.S.

Federal Government has placed a significant focus

on efficiency, including with respect to contracting with private companies.

These efforts have and may continue to have effects on our

business, including, but not limited to:

Changes in priorities may result in procurement changes, delays

or cancellations, as well as changes in scope, pricing, or outright cancellations of existing contracts.

Changes in priorities may also affect the level of demand or

funding for our state programs in the United States, which are typically mandated and fully or partially funded from the U.S.

Changes to procurement rules may result in additional competition,

scrutiny and costs of compliance.

Changes in federal regulations, such as those related to the

elimination of diversity, equity and inclusion initiatives, or return to office mandates may require us to change our existing business

practices, may be disruptive to our business, may create a level of uncertainty within our workforce and may conflict with local laws

and regulations.

Government may seek to lower barriers to entry to

allow greater involvement by the private sector.

While this may provide additional opportunities for us, it may also expose us to greater

levels of competition.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 1A. Risk Factors