9 unchanged sentences
We have experienced and expect to continue to experience significant expenses related to acquisitions and the development of new products and services.
−Removed: Although we have deliberately incurred losses in the past as we worked to develop, test and popularize our products and services, a significant portion of our expenses are fixed in advance and we cannot assure that we will be profitable in the future or that our financial performance will sustain a sufficient level to completely support operations.
+Added: We have deliberately incurred losses in the past as we worked to develop, test and popularize our products and services.
+Added: Although the maintenance of these products and services is expected to be significantly less expensive than the initial development, competitive pressure and feedback from customers may result in further development efforts.
+Added: In addition, significant portion of our expenses are fixed in advance and can only be reduced as on a percentage basis as our revenue increases.
+Added: Accordingly, we cannot assure that we will be profitable or that our financial performance will sustain a sufficient level to completely support operations at any particular time in the future.
Our ability to become profitable in future periods could be impacted by factors that are not in our control, including government activity and regulation, economic instability and other items.
11 unchanged sentences
If our market does not experience significant growth, or demand for our services decreases, then our business, results of operations, and financial condition could be adversely affected.
−Removed: We depend on component and product manufacturing provided by outsourcing partners, most of which are located outside of the U.S.
+Added: For our hardware product offerings we depend on component and product manufacturing provided by outsourcing partners, most of which are located outside of the U.S.
We rely on outsourcing partners primarily located in Europe and Asia to supply and manufacture many components of substantially all of our hardware products.
139 unchanged sentences
federal and state income tax purposes.
−Removed: As of December 31, 2024, we had gross federal and state net operating loss carryforwards, or NOLs, of approximately $190,624,000 and $180,859,000 , respectively.
+Added: As of December 31, 2025, we had gross federal and state net operating loss carryforwards, or NOLs, of approximately $229,894,000 and $220,253,000 , respectively, which include both domestic and foreign NOLs as further described in Note 10 to our consolidated financial statements.
A lack of future taxable income could adversely affect our ability to use these NOLs.
75 unchanged sentences
As of March 25, 2 026 , we have a total of 136 ,578,177 shar es of common stock outstanding .
−Removed: Based on shares outstanding as of March 28, 2025, 14,479,276 shares of common stock, or 13.1%, a re beneficially owned by our officers, directors and their affiliated entities, and will be subject to volume limitations under Rule 144 under the Securities Act and various vesting agreements.
−Removed: In addition , 9,255,659 shares of our common stock that are subject to outstanding options, restricted stock units and warrants as of March 28, 2025, wil l become eligible for sale in the public market to the extent permitted by the provisions of various vesting agreements, and Rules 144 and 701 under the Securities Act.
+Added: Based on shares outstandin g as of March 25, 2026, 4,430,219 shares of common stock, or 3.2%, a re beneficially owned by our officers, directors and their affiliated entities, and will be subject to volume limitations under Rule 144 under the Securities Act and various vesting agreements.
+Added: In addition , 13,682,656 shares of our common stock that are subject to outstanding options, restricted stock units and war rants as of March 25, 20 26, wil l become eligible for sale in the public market to the extent permitted by the provisions of various vesting agreements, and Rules 144 and 701 under the Securities Act.
We cannot predict what effect, if any, sales of our shares in the public market or the availability of shares for sale will have on the market price of our common stock.
16 unchanged sentences
The price per share at which we may sell additional shares of our common stock or other securities convertible into or exchangeable for our common stock in future transactions may be higher or lower than the price per share paid by investors.
−Removed: On February 10, 2025, we entered into an At Market Issuance Sales Agreement pursuant to which we may, from time to time, offer and sell shares of our common stock having an aggregate offering price of up to $25,000,000.
−Removed: As of March 28, 2025, we issued 5,148,600 shares under the Sales Agreement.
We do not intend to pay dividends on our common stock for the foreseeable future.
3 unchanged sentences
Accordingly, investors must rely on sales of their common stock after price appreciation, which may never occur, as the only way to realize any future gains on their investments.
−Removed: Our executive officers, directors, principal stockholders and their affiliates will continue to exercise significant influence over our company, which will limit your ability to influence corporate matters and could delay or prevent a change in corporate control.
−Removed: As of March 28, 2025, our executive officers, directors, five percent or greater stockholders and their respective affiliates owned in the aggregate approximately 13.1% of our common stock.
−Removed: These stockholders have the ability to influence us through this ownership position and may have a determining role in matters requiring stockholder approval.
−Removed: For example, these stockholders may be able to ultimately determine elections of directors, amendments of our organizational documents, or approval of any merger, sale of assets, or other major corporate transaction.
−Removed: This may prevent or discourage unsolicited acquisition proposals or offers for our common stock that you may feel are in your best interest as one of our stockholders.
−Removed: The interests of this group of stockholders may not always coincide with your interests or the interests of other stockholders and they may act in a manner that advances their best interests and not necessarily those of other stockholders, including seeking a premium value for their common stock, and might affect the prevailing market price for our common stock.
We are a “ smaller reporting company ” and, as a result of the reduced disclosure and governance requirements applicable to smaller reporting companies, our common stock may be less attractive to investors.
9 unchanged sentences
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.