Item 1A. Risk Factors
ITEM 1A. Risk Factors
We have discussed under the heading “Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended December 31, 2020 (the “2020 Form 10-K”), supplemented by the disclosure below, a number of risks which may materially affect our business, financial condition or results of operations. You should carefully consider these Risk Factors and other information set forth elsewhere in this Quarterly Report on Form 10-Q. You should be aware that these risk factors and other information may not describe every risk facing our Company. Additional risks and uncertainties not currently known to us may also materially adversely affect our business, financial condition and/or results of operations.
The following constitutes a supplement to the 2020 Form 10-K, Part I, Item 1A “Risk Factors” under “Our business, results of operations and financial condition have been adversely affected, and could in the future be materially adversely affected, by the coronavirus pandemic.”
In late March 2021, a new serious outbreak of COVID-19 virus began affecting India. The outbreak resulted in an exorbitant spike in the number of COVID patients, which overwhelmed the healthcare infrastructure in India. The Indian government reinstated lockdowns limiting in certain cases the movement of our employees to offices. During the same period, the Philippines also began experiencing a spike in the number of COVID patients. In July 2021, a significant increase in number of COVID-19 cases across the U.S. were brought on by the new variant of the COVID-19 virus. The situation has improved in India, the Philippines and the U.S., but we continue to monitor the situation in all of the jurisdictions in which we operate. Our operations were not materially affected in any of these geographies as a result of our appropriate business
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continuity procedures. It is possible that any further developments, including the emergence of new variants of the COVID-19 virus, could adversely affect our business and results of operations.
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