−Removed: Other than the risk factors listed below, there have been no material changes to the risk factors disclosed in “Risk Factors” in our Annual Report on Form 10-K as filed with the SEC on March 12, 2021, and in our Quarterly Reports on Form 10-Q as filed with the SEC on May 10, 2021 and August 16, 2021.
−Removed: We encourage investors to review the risk factors and uncertainties relating to our business disclosed in that Form 10-K and Form 10-Q, as well as those contained in Part 1, Item 2, Management’s Discussion and Analysis of Financial Condition and Results of Operations, above.
−Removed: We rely, in part, on third party date providers and existing camera networks to grow our business.
−Removed: If we are unable to enter into agreements with third party data providers or successfully maintain them, our growth may be adversely impacted.
−Removed: We rely, in part, on access the third party data and access to existing camera networks to grow our business.
−Removed: The majority of the third party data agreements allow us to access connected vehicle data, existing camera networks or other data services, thereby increasing the data points used in our solutions.
−Removed: Any agreement we enter into with a third party may not be on favorable terms, and the expected benefits and growth from these agreements may not materialize as planned.
−Removed: Despite our past experience, opportunities to grow our business through third party data may not be available to us in the future.
−Removed: The market for our Rekor One platform is new and unproven, and may decline or experience limited growth and is dependent in part on data consumers continuing to adopt its platform and use its services.
−Removed: The market for an ecosystem that connects government agencies, service providers and, ultimately, drivers is relatively new and some aspects of it are unproven.
−Removed: Therefore, it is subject to a number of risks and uncertainties.
−Removed: We believe that our future success will significantly depend in large part on the growth, if any, of this market.
−Removed: The use of advanced vehicle recognition systems and marketplace data to obtain data on vehicles, drivers and the environment is still relatively new and consumers may not recognize the need for, or benefits of, our platform and solutions.
−Removed: Moreover, if they do not recognize the need for and benefits of our platform and solutions, they may decide to adopt alternative services to satisfy some portion of their business needs.
−Removed: In order to grow its business and extend our market position, we intend to focus on educating potential customers about the benefits of its services and platform, expanding the range of our services and bringing new technologies to market to increase market acceptance and use of our platform.
−Removed: Our ability to expand the market that our platform and solutions address depends upon a number of factors, including the cost, performance and perceived value associated with them.
−Removed: The market for our platform and solutions could fail to grow significantly or there could be a reduction in demand for its services as a result of a lack of acceptance, technological challenges, competing services, decreases in spending by current and prospective customers, weakening economic conditions and other causes.
−Removed: If our market does not experience significant growth, or demand for its services decreases, then its business, results of operations, and financial condition could be adversely affected.
−Removed: Our internal investments and go-to-market strategy may place downward pressure on our operating margins.
−Removed: To increase our revenue growth, we continue to invest in our business, including investments into new markets as part of our go-to-market strategy and investment in continued innovation and product development to expand the suite of solutions we provide to our customers.
−Removed: Our operating margins may experience downward pressure in the short term as a result of these investments.
−Removed: Furthermore, our investments may not produce the expected results.
−Removed: If we are unable to successfully execute our go-to-market strategy, we may experience decreases in our revenues and operating margins.
+Added: There have been no material changes to the risk factors disclosed in “Risk Factors”
+Added: in our Annual Report on Form 10-K as filed with the SEC on March 31, 2022.
+Added: We encourage investors to review the risk factors and uncertainties relating to our business disclosed in that Form 10-K, as well as those contained in Part 1, Item 2, Management’s Discussion and Analysis of Financial Condition and Results of Operations, above.
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.