−Removed: 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 25, 2024, as supplemented by the risk factors disclosed in “Risk Factors” in our Quarterly Report on Form 10-Q for the quarter ended March 31, 2024, as filed with the SEC on May 15, 2024.
−Removed: We encourage investors to review the risk factors and uncertainties relating to our business disclosed in that Form 10-K, as supplement by that 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.
+Added: Tariffs and Trade Policy Changes Could Adversely Affect Our Supply Chain and Financial Performance
+Added: We depend on international suppliers for certain hardware components, such as cameras and sensors, used in our AI-driven roadway intelligence solutions.
+Added: tariffs on imports, from trading partners, could significantly increase our component costs.
+Added: If we are unable to pass these increased costs to customers due to competitive pressures, our gross margins could decline, further straining our financial condition.
+Added: Moreover, ongoing trade policy uncertainty could hinder our ability to plan effectively, adversely affecting our business, operating results, and financial condition.
+Added: Other than the risk factor discussed above, 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 31, 2025.
+Added: We encourage investors to review the risk factors and uncertainties relating to our business disclosed in that Form 10-K, as supplement by this 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.
+Added: UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
+Added: Unregistered Sales of Equity Securities
+Added: Use of Proceeds
+Added: DEFAULTS UPON SENIOR SECURITIES
+Added: MINE SAFETY DISCLOSURES
+Added: Not applicable.
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.