16 unchanged sentences
Because we recognize revenue when we have satisfied performance obligations to customers in connection with our sales contracts, most of our revenue each quarter results from recognition of deferred revenue related to agreements entered into during previous quarters.
−Removed: Consequently, declines in new or renewed subscription agreements and maintenance agreements
−Removed: that occur in one quarter will largely be felt in future quarters, both because we may be unable to generate sufficient new revenue to offset the decline and because we may be unable to adjust our operating costs and capital expenditures to align with the changes in revenue.
+Added: Consequently, declines in new or renewed subscription agreements and maintenance agreements that occur in one quarter will largely be felt in future quarters, both because we may be unable to generate sufficient new revenue to offset the decline and because we may be unable to adjust our operating costs and capital expenditures to align
+Added: with the changes in revenue.
In addition, our subscription model makes it more difficult for us to increase our revenue rapidly in any period, because revenue from new customers must be recognized over the applicable subscription term.
24 unchanged sentences
In addition, our business is subject to seasonal factors that may also cause our results to fluctuate from quarter to quarter.
−Removed: If we are unable to properly manage our SaaS transition, our business may suffer.
We cannot accurately predict subscription renewal rates and the impact these rates may have on our future revenue and operating results.
72 unchanged sentences
These risks in turn could cause our operating results and financial condition to suffer.
−Removed: We derived 25% and 21% of our revenue from EMEA sales during the three months ended September 30, 2024 and 2023.
+Added: We derived 23% and 24% of our revenue from EMEA sales during the three and six months ended December 31, 2024 respectively, which is consistent with the three and six months ended December 31, 2023.
In addition to those discussed elsewhere in this section, our EMEA sales operations are subject to a number of specific risks, such as:
5 unchanged sentences
● health or similar issues, such as a pandemic or epidemic;
−Removed: ● various trade restrictions and tax consequences;
+Added: ● various international trade restrictions and tax consequences;
● hostilities in various parts of the world, such as the conflict between Russia and Ukraine and the evolving events in Israel and Gaza;
1 unchanged sentence
Any of the above risks could adversely affect our international operations, reduce our revenue from customers outside of the United States or increase our operating costs, each of which could adversely affect our business, results of operations, financial condition, and growth prospects.
−Removed: As of September 30, 2024, approximately 46% of our workforce was employed in India.
+Added: As of December 31, 2024, approximately 46% of our workforce was employed in India.
Of our employees in India, 50% are allocated to research and development.
22 unchanged sentences
Any damage to, or failure of, our systems, or those of our third-party data centers, could result in impairment of or interruptions in our service.
−Removed: Impairment or interruptions in our service may reduce our revenue, cause us to issue credits, pay penalties, or cause customers to terminate their subscriptions and adversely affect our renewal rate and our ability to attract new customers.
+Added: Impairment or interruptions in our service may reduce our revenue, cause us to issue credits, or pay penalties, or cause customers to terminate their subscriptions and adversely affect our renewal rate and our ability to attract new customers.
Our business will also be harmed if our customers and potential customers believe our cloud operations are unreliable .
33 unchanged sentences
Our business model assumes that both customers and companies will increasingly elect to communicate through multiple channels, as well as demand integration of the online channels into the traditional telephone-based call center.
−Removed: If any of these assumptions is incorrect
−Removed: or if customers and companies do not adopt digital technology in a timely manner, our business will be seriously harmed and our stock price will decline.
+Added: If any of these assumptions is incorrect or if customers and companies do not adopt digital technology in a timely manner, our business will be seriously harmed and our stock price will decline.
We may be unable to respond to the rapid technological change and changing customer preferences in the online sales, marketing, customer service, and/or online consumer services industries and this may cause our business to suffer.
21 unchanged sentences
To the extent we need to license third-party technologies, we may be unable to do so on commercially reasonable terms or at all.
−Removed: Third-party licenses may expose us to increased risks, including risks associated with the integration of new technology, the diversion of resources from the development of our own proprietary technology, and our inability to generate revenue from new technology sufficient to offset associated acquisition and maintenance costs.
−Removed: In the event that we are not able to maintain our licenses to third-party software, or cannot obtain licenses to new software as needed, or in the event third-
−Removed: party software used in conjunction with our platform contains errors or defects, our business, operating results, and financial condition may be adversely affected.
+Added: Third-party licenses may expose us to increased risks, including risks associated with the integration of new technology, the diversion of resources from the development of our own proprietary technology, and our inability to generate revenue
+Added: from new technology sufficient to offset associated acquisition and maintenance costs.
+Added: In the event that we are not able to maintain our licenses to third-party software, or cannot obtain licenses to new software as needed, or in the event third-party software used in conjunction with our platform contains errors or defects, our business, operating results, and financial condition may be adversely affected.
Our offshore product development, support and professional services may prove difficult to manage or may not allow us to realize our cost reduction goals, produce effective new solutions and provide professional services to drive growth.
27 unchanged sentences
In the past, we have experienced collection delays from certain customers, and we cannot predict whether we will continue to experience similar or more severe delays in the future.
−Removed: Although we have established provision to cover losses due to delays or inability to pay, there can be no assurance that such reserves will be sufficient to cover our losses.
+Added: Although we have established a provision to cover losses due to delays or inability to pay, there can be no assurance that such reserves will be sufficient to cover our losses.
If losses due to delays or inability to pay are greater than our reserves, it could harm our business, operating results and financial condition.
55 unchanged sentences
Any successful denial of service attack could result in a loss of customer confidence in the security of our platform and damage to our brand.
−Removed: Our platform involves the storage and transmission of our customers’ information, which may including their business and financial data.
+Added: Our platform involves the storage and transmission of our customers’ information, which may include their business and financial data.
As a result, unauthorized access to customer data or security breaches could result in the loss, or unauthorized dissemination, of such data, which could seriously harm our or our customers’ businesses and reputations.
20 unchanged sentences
DPF that allows the transfer of personal data from the UK to the U.S.
−Removed: (the “UK DPF Extension”), is available for companies as a lawful transfer mechanism for personal data transfers to the U.S.
+Added: (UK DPF Extension), is available for companies as a lawful transfer mechanism for personal data transfers to the U.S.
from the EEA and UK.
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DPF already has been the subject of legal challenge, however, and more generally, these frameworks may be subject to legal challenges from privacy advocacy groups or others.
−Removed: Additionally, the European Commission's adequacy decision regarding the DPF provides that the DPF will be subject to future reviews and may be subject to suspension,
−Removed: amendment, repeal, or limitations in scope by the European Commission.
+Added: Additionally, the European Commission's adequacy decision regarding the DPF provides that the DPF will be subject to future reviews and may be subject to suspension, amendment, repeal, or limitations in scope by the European Commission.
These developments regarding cross-border data transfers have created uncertainty and increased the risk around our international operations and may require us to review and amend the legal mechanisms by which we make or receive personal data transfers to the U.S.
6 unchanged sentences
Our publication of our privacy policy and other public statements that provide promises and assurances about privacy and security can subject us to potential governmental action if they are found to be deceptive or misrepresentative of our practices.
−Removed: Further, t he costs of compliance with, and other burdens imposed by, such laws, regulations and policies that are applicable to us may limit the use and adoption of our products and solutions and could have a material adverse impact on our results of operations.
+Added: Further, the costs of compliance with, and other burdens imposed by, such laws, regulations and policies that are applicable to us may limit the use and adoption of our products and solutions and could have a material adverse impact on our results of operations.
Privacy concerns and laws, evolving regulation of cloud computing and other domestic or foreign regulations may limit the use and adoption of our solutions and adversely affect our business.
Further to the above, regulation related to the provision of services on the Internet is increasing, as federal, state and foreign governments continue to adopt new laws and regulations addressing data privacy and the collection, processing, storage and use of personal information.
−Removed: Further, laws are increasingly aimed at the use of personal information for marketing purposes, such as the EU’s e-Privacy Directive (which is set to be replaced by a new EU e-Privacy Regulation which will have a “direct effect” in each EU Member State), and the country-specific regulations that implement that directive.
+Added: Further, laws are increasingly aimed at the use of personal information for marketing
+Added: purposes, such as the EU’s e-Privacy Directive (which is set to be replaced by a new EU e-Privacy Regulation which will have a “direct effect” in each EU Member State), and the country-specific regulations that implement that directive.
These and other requirements could reduce demand for our solutions or restrict our ability to store and process data or, in some cases, impact our ability to offer our services and solutions in certain locations.
26 unchanged sentences
Our customers expect us to meet voluntary certification or other standards established by third parties, such as TRUSTe.
−Removed: If we are unable to maintain these certifications or meet these standards, it could adversely affect our ability to provide our solutions to certain customers and could harm our business.
+Added: If we are unable to maintain these certifications or meet
+Added: these standards, it could adversely affect our ability to provide our solutions to certain customers and could harm our business.
The costs of compliance with and other burdens imposed by laws, regulations and standards may limit the use and adoption of our service and reduce overall demand for it, or lead to significant fines, penalties or liabilities for any noncompliance.
28 unchanged sentences
If we are unable to comply with these guidelines or controls, or if our customers are unable to obtain regulatory approval to use our service where required, our business may be harmed.
−Removed: In addition, an inability to satisfy the standards of certain voluntary third-party certification bodies that our customers may expect, such as an attestation of compliance with the PCI Data Security Standards, may have an adverse impact on our business.
+Added: In addition, an inability to satisfy the standards of certain voluntary third-
+Added: party certification bodies that our customers may expect, such as an attestation of compliance with the PCI Data Security Standards, may have an adverse impact on our business.
If we are unable to achieve or maintain these industry-specific certifications or other requirements or standards relevant to our customers, it could adversely affect our ability to provide our services to certain customers and harm our business.
15 unchanged sentences
Changes to current accounting policies could have a significant effect on our reported financial results or the way in which we conduct our business.
−Removed: Generally accepted accounting principles and the related accounting pronouncements, implementation guidelines and interpretations for some of our significant accounting policies are highly complex and require subjective judgments and assumptions.
+Added: Generally accepted accounting principles and the related accounting pronouncements, implementation guidelines and interpretations for some of our significant accounting policies are highly complex and require subjective judgments and
Some of our more significant accounting policies that could be affected by changes in the accounting rules and the related implementation guidelines and interpretations include:
49 unchanged sentences
Our insiders who are significant stockholders have the ability to exercise significant control over matters requiring stockholder approval, including the election of our board of directors, and may have interests that conflict with those of other stockholders.
−Removed: Our directors and executive officers, together with their affiliates and members of their immediate families, beneficially owned, in the aggregate, approximately 35% of our outstanding capital stock as of September 30, 2024, of which our Chief Executive Officer, Ashutosh Roy, beneficially owned approximately 32% as of such date.
+Added: Our directors and executive officers, together with their affiliates and members of their immediate families, beneficially owned, in the aggregate, approximately 34% of our outstanding capital stock as of December 31, 2024, of which our Chief Executive Officer, Ashutosh Roy, beneficially owned approximately 31% as of such date.
As a result of these concentrated holdings, Mr.
1 unchanged sentence
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.