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INVE on Nasdaq

INVE Technologies, Inc.

INVE Technologies, Inc. is an American computer peripheral equipment company based in Santa Ana.1

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Last updated Oct 21, 2026.

Overview

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  • TickerINVE on Nasdaq1
  • IndustryComputer Peripheral Equipment, NEC1
  • HeadquartersSanta Ana, California1
  • Incorporated inDE2
  • Business address1900-B Carnegie Ave., Santa Ana, Ca 927052
  • Filer categoryNon-accelerated filer, Smaller reporting company2

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Identiv and the Identiv logo are trademarks of Identiv, Inc., registered in many jurisdictions worldwide. Certain product and service brands are also trademarks or registered trademarks of the Company, including SMARTAG and TAM. Other product and brand names not belonging to Identiv that appear in this Annual Report may be trademarks or registered trademarks of their respective owners.4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

6.1%Gross margin5
-103.1%Operating margin5
-83.8%Net margin5
-19.3%Revenue growth, 20255
-12.8%Return on equity5

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Regions

Americas brought in 47% of the revenue INVE Technologies, Inc. broke down this way in fiscal 2025.

  1. Americas$10.0M547%down 16% from 2024
  2. Europe And Middle East$7.2M533%down 5% from 2024
  3. Asia Pacific$4.3M520%down 39% from 2024
Regions by year
Regions20242025
Americas$12.0M$10.0M
Europe And Middle East$7.6M$7.2M
Asia Pacific$7.0M$4.3M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue85¢$20.2M
  • Research and development14¢$3.3M
  • Income tax1¢$268.0K

Out of $21.5M in revenue.5 The company lost money this year.

Financial statements

Revenue67895$21.5M in 2025−74% since 2019
0$50.0M$100.0M$150.0M2019: $83.8M$83.8M20192020: $86.9M$86.9M2020+4%2021: $103.8M$103.8M2021+19%2022: $112.9M$112.9M2022+9%2023: $43.4M$43.4M2023−62%2024: $26.6M$26.6M2024−39%2025: $21.5M$21.5M2025−19%
Gross profit67895$1.3M in 2025−96% since 2019
0$20.0M$40.0M$60.0M2019: $36.7M$36.7M20192020: $33.7M$33.7M2020−8%2021: $37.1M$37.1M2021+10%2022: $40.9M$40.9M2022+10%2023: $6.0M$6.0M2023−85%2024: $340.0K$340.0K2024−94%2025: $1.3M$1.3M2025+284%
Operating income67895-$22.1M in 2025+20217% since 2019
-$30.0M-$20.0M-$10.0M02019: -$109.0K-$109.0K20192020: -$3.4M-$3.4M2020+3063%2021: -$1.3M-$1.3M2021−61%2022: -$333.0K-$333.0K2022−75%2023: -$13.5M-$13.5M2023+3956%2024: -$28.0M-$28.0M2024+107%2025: -$22.1M-$22.1M2025−21%
Net income671095-$18.0M in 2025+1464% since 2019
-$1.0T0$1.0T$2.0T2019: -$1.2M-$1.2M20192020: -$5.1M-$5.1M2020+344%2021: $1.6T$1.6T20212022: -$392.0B-$392.0B20222023: -$5.5M-$5.5M2023−100%2024: $74.8M$74.8M20242025: -$18.0M-$18.0M2025

Every line of the income statement as filed: the last 2 fiscal years, latest first.5

Period ending2025-12-312024-12-31
Net revenue$21.5M$26.6M
Cost of revenue$20.2M$26.3M
Gross profit$1.3M$340.0K
Research and development$3.3M$3.9M
Selling and marketing$5.6M$5.7M
General and administrative$13.1M$18.1M
Restructuring and severance$1.5M$540.0K
Total operating expenses$23.5M$28.3M
Loss from continuing operations-$22.1M-$28.0M
Interest income, net$5.0M$1.4M
Foreign currency gains (losses), net-$1.1M$788.0K
Loss from continuing operations before income tax benefit (provision)-$18.3M-$25.8M
Income tax benefit (provision)$268.0K-$90.0K
Net loss from continuing operations-$18.0M-$25.9M
Loss from Physical Security Business, net of tax-$2.8M
Gain on sale of Physical Security Business, net of tax$103.5M
Total income from discontinued operations, net of tax$0$100.7M
Net income (loss)-$18.0M$74.8M
Foreign currency translation adjustment, net of tax$1.9M-$233.0K
Comprehensive income (loss)-$16.1M$74.6M
Basic - continuing operations-$1-$1
Diluted - continuing operations-$1-$1
Basic - discontinued operations$0$4
Diluted - discontinued operations$0$4
Basic-$0.79$3.14
Diluted-$0.79$3.14
Basic23.8M shares23.6M shares
Diluted23.8M shares23.6M shares

Compare INVE Technologies, Inc. with another company

Corporate structure

INVE Technologies, Inc. sits at the top of its group. 7 entities, 4 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of INVE Technologies, Inc.

  • Bleichroeder LP Filed SCHEDULE 13D/A on INVE Technologies, Inc., latest Aug 25, 2026 (9 filings since Feb 14, 2022)
  • Bruce Grossman Filed SCHEDULE 13G on INVE Technologies, Inc., latest Jul 9, 2026
  • VANGUARD GROUP INC Filed SCHEDULE 13G/A on INVE Technologies, Inc., latest Mar 27, 2026 (6 filings since Feb 13, 2024)
  • ROYCE & ASSOCIATES LP Filed SCHEDULE 13G/A on INVE Technologies, Inc., latest Oct 22, 2025 (3 filings since Jan 23, 2024)
  • Radoff Bradley Louis Filed SCHEDULE 13D/A on INVE Technologies, Inc., latest Aug 27, 2025 (5 filings since Mar 3, 2025)
  • Portolan Capital Management, LLC Filed SC 13G/A on INVE Technologies, Inc., latest Nov 13, 2024 (5 filings since Feb 11, 2022)
  • Hawk Acquisition, Inc. Filed SC 13D/A on INVE Technologies, Inc., latest Jul 2, 2024 (2 filings since Apr 12, 2024)
  • Flint Ridge Capital LLC Filed SC 13G/A on INVE Technologies, Inc., latest Feb 14, 2024 (2 filings since Nov 9, 2023)
  • BlackRock Filed SC 13G/A on INVE Technologies, Inc., latest Jul 7, 2023 (3 filings since Feb 4, 2022)
  • Ophir Asset Management Pty Ltd Filed SC 13G/A on INVE Technologies, Inc., latest Nov 16, 2022 (2 filings since Feb 14, 2022)
  • INVE Technologies, Inc. Santa Ana, California
    • ACIG TECHNOLOGY Corp. Subsidiary · Florida, United States
    • Identiv (Thailand) Company, Ltd. Subsidiary · Thailand
    • Identiv GmbH Subsidiary · Germany
    • Microtech International Inc. Subsidiary · Delaware, United States
    • SCM Microsystems (U.S.) Inc. Subsidiary · Delaware, United States
    • SCM Microsystems Ltd. Subsidiary · United Kingdom

Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What INVE Technologies, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$11.1M5 Dec 31, 2025$20.2M5 Dec 31, 2024−44.9%
Accumulated depreciation$3.8M5 Dec 31, 2025$12.5M5 Dec 31, 2024−69.5%
Property and equipment, net$7.3M5 Dec 31, 2025$7.7M5 Dec 31, 2024−4.9%
Operating-lease assets (leased space)$841.0K5 Dec 31, 2025$2.0M5 Dec 31, 2024−58.0%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$128.6M5 Dec 31, 2025$135.6M5 Dec 31, 2024−5.2%

Inventory

ItemLatestA year beforeChange
Inventory, total$7.4M5 Dec 31, 2025$7.5M5 Dec 31, 2024−0.7%
Raw materials$4.9M5 Dec 31, 2025$3.9M5 Dec 31, 2024+24.7%
Finished goods$2.6M5 Dec 31, 2025$3.6M5 Dec 31, 2024−28.4%

Properties, in its own words

Our corporate headquarters is in Santa Ana, California. We lease additional facilities to house our engineering, sales and marketing, administrative and manufacturing functions. At December 31, 2025, our major facilities consisted of the following:

Location · Function · Square Feet · Lease Expiration

The rest of Item 2

Santa Ana, California(1) · Corporate headquarters; administration; research and development; sales · 5,000 · January 2028

Sauerlach, Germany · European operations; research and development; sales · 5,156 · April 2026

Ayutthaya, Thailand · RFID/NFC product manufacturing; research and development · 41,441 · March 2028

(1) With the closing of the Asset Sale in September 2024, we are currently subleasing approximately 5,000 square feet

from Hirsch Secure, Inc., a member of the Vitaprotech Group.

Item 2 of the 10-K filed Mar 26, 2026.4

Leadership

Who has led INVE Technologies, Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Felix Marx2007–2008
  2. Ayman S. Ashour2010–2013
  3. Manfred Mueller2010
  4. Jason Hart2014–2015
  5. Steven Humphreys2016–2024

Chair

  1. Steven Humphreys2006
  2. Werner Koepf2007–2009
  3. Ayman S. Ashour2010

President

  1. Lawrence W. Midland2014

Chief financial officer

  1. Stephan Rohaly2006–2009
  2. Melvin Charles Denton-Thompson2010–2012
  3. Brian Charles Nelson2014–2015
  4. Steven T. Finney2015–2016
  5. Sandra Wallach2017–2021
  6. Justin Scarpulla2021–now

Chief operating officer

  1. Melvin Charles Denton-Thompson2010
  2. Manfred Mueller2014
2010201520202025
Board members and other officers (30)

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • ACIG TECHNOLOGY Corp. Florida3
  • Identiv (Thailand) Company, Ltd. Thailand3
  • Identiv GmbH Germany3
  • Identiv KK Japan3
  • Identiv Pte. Ltd. Singapore3
  • Microtech International Inc. Delaware3
  • SCM Microsystems (U.S.) Inc. Delaware3
  • SCM Microsystems Ltd. United Kingdom3

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Former names

  • Identiv, Inc.Jun 2, 2014 to Aug 25, 20262
  • IDENTIVE GROUP, INC.Jun 17, 2010 to May 23, 20142
  • SCM MICROSYSTEMS INCJun 12, 1997 to Jun 8, 20102

Timeline

  1. Sep 18, 20268-K Executive or director change59
  2. Sep 16, 20268-K Completed an acquisition or sale; Bylaws or fiscal year changed; Shareholder vote60
  3. Aug 24, 20268-K Other events61
  4. Aug 12, 20268-K Results of operations62
  5. Aug 5, 20268-K Executive or director change63
  6. Jul 27, 20268-K Other events64
  7. Jun 24, 20268-K Entered a material agreement; Regulation FD disclosure; Other events65
  8. May 13, 20268-K Results of operations66
  9. Mar 12, 20268-K Results of operations67
  10. Nov 10, 20258-K Results of operations68
  11. Aug 7, 20258-K Results of operations; Executive or director change69
  12. Jun 20, 20258-K Executive or director change70
  13. Jun 8, 2016New chief executive Steven Humphreys becomes CEO14
  14. Mar 17, 2014New chief executive Jason Hart becomes CEO15
  15. Jun 23, 2010New chief executive Manfred Mueller becomes CEO17
  16. Mar 16, 2010New chief executive Ayman S. Ashour becomes CEO16
  17. Oct 24, 2007New chief executive Felix Marx becomes CEO18

Calendar

Coming up

  1. Nov 9, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported ($0.15) a share, on Nov 10, 2025.71

When it reported results

  1. Aug 12, 2026Reported quarterly or annual results62
  2. May 13, 2026Reported quarterly or annual results66
  3. Mar 12, 2026Reported quarterly or annual results67
  4. Nov 10, 2025Reported quarterly or annual results68
  5. Aug 7, 2025Reported quarterly or annual results69
  6. May 7, 2025Reported quarterly or annual results72
  7. Mar 5, 2025Reported quarterly or annual results73
  8. Nov 7, 2024Reported quarterly or annual results74

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

276 filings to the SEC since October 2021: 7 annual reports, 15 quarterly reports, 45 major events, 132 insider forms, 38 large holders, 39 other. The latest 20:

  1. Sep 30, 20263 EDGAR
  2. Sep 18, 20268-K EDGAR
  3. Sep 17, 20264 EDGAR
  4. Sep 17, 20264 EDGAR
  5. Sep 17, 20264 EDGAR
  6. Sep 16, 20268-K EDGAR
  7. Aug 25, 2026SCHEDULE 13D/A EDGAR
  8. Aug 25, 2026DEFA14A EDGAR
  9. Aug 24, 20268-K EDGAR
  10. Aug 20, 2026DEFA14A EDGAR
  11. Aug 13, 202610-Q EDGAR
  12. Aug 12, 20268-K EDGAR
  13. Aug 7, 2026ARS EDGAR
  14. Aug 7, 2026DEFM14A EDGAR
  15. Aug 5, 2026DEFA14A EDGAR
  16. Aug 5, 20268-K EDGAR
  17. Aug 3, 20264 EDGAR
  18. Aug 3, 20264 EDGAR
  19. Aug 3, 20264 EDGAR
  20. Aug 3, 20264 EDGAR

The 276 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

47 open-market trades by officers, directors and large owners since October 2021: 22 buys and 25 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Mar 14, 2025Scarpulla JustinChief Financial OfficerBuy6,565$3.20$21.0KForm 4
Mar 13, 2025Newquist Kirsten F.Chief Executive OfficerBuy19,000$3.32$63.1KForm 4
May 23, 2024Newquist Kirsten F.Chief Executive OfficerBuy17,166$4.47$76.7KForm 4
May 22, 2024HUMPHREYS STEVENBuy11,000$4.30$47.3KForm 4
May 21, 2024HUMPHREYS STEVENBuy9,000$4.31$38.8KForm 4
May 20, 2024KREMEN GARYDirectorBuy25,000$4.14$103.5KForm 4
May 17, 2024HUMPHREYS STEVENBuy10,000$4.15$41.5KForm 4
May 15, 2023HUMPHREYS STEVENBuy5,000$6.93$34.6KForm 4
May 11, 2023HUMPHREYS STEVENBuy5,000$6.94$34.7KForm 4
May 10, 2023HUMPHREYS STEVENBuy10,000$6.76$67.6KForm 4
May 25, 2022Bleichroeder LP10% ownerBuy5,487$11.15$61.2KForm 4
May 24, 2022Bleichroeder LP10% ownerBuy10,000$11.15$111.5KForm 4
May 10, 2022Bleichroeder LP10% ownerBuy25,000$11.74$293.5KForm 4
May 9, 2022Bleichroeder LP10% ownerBuy3,301$11.75$38.8KForm 4
May 6, 2022Bleichroeder LP10% ownerBuy100,000$12.10$1.2MForm 4
Apr 22, 2022Bleichroeder LP10% ownerBuy35,100$12.56$440.9KForm 4
Apr 21, 2022Bleichroeder LP10% ownerBuy67,671$12.61$853.3KForm 4
Mar 15, 2022Scarpulla JustinChief Financial OfficerBuy6,500$15.36$99.8KForm 4
Mar 14, 2022Bleichroeder LP10% ownerBuy24,606$14.98$368.6KForm 4
Mar 8, 2022Bleichroeder LP10% ownerBuy81,172$15.05$1.2MForm 4

All 47 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2024Kirsten F. Newquist58$284.9K$2.1M85
2024Steven Humphreys$373.7K$1.5M85
2024Justin Scarpulla$340.0K$1.2M85
2023Former ChiefExecutive Officer$424.1K$424.8K85
2023Chief Financial Officer and Secretary$315.0K$367.6K85

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 57. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Bleichroeder LP2,884,495$7.3M1.3%No change
AIGH Capital Management LLC1,449,121$3.7M0.3%+1,039,935
Vanguard Capital Management LLC915,864$2.3M0.0%−135,995
Peapod Lane Capital LLC587,212$1.5M1.0%+210,482
Renaissance Technologies LLC516,382$1.3M0.0%+254,598
Royce & Associates LP501,236$1.3M0.0%−675,304
Essex Investment Management Co LLC484,438$1.2M0.2%−252,170
BlackRock, Inc.333,004$839.2K0.0%+17,257
Geode Capital Management, LLC248,229$625.7K0.0%+6,379
Dimensional Fund Advisors LP226,257$570.3K0.0%+18,493
Assenagon Asset Management S.A.167,722$422.7K0.0%+155,394
Legato Capital Management LLC162,247$408.9K0.0%−68,444
Vanguard Fiduciary Trust Co136,294$343.5K0.0%+874
Connective Capital Management, LLC130,120$327.9K0.2%New
Citadel Advisors LLC127,172$320.5K0.0%+76,275
Goldman Sachs Group Inc97,826$246.5K0.0%+27,319
State Street Corp95,915$241.7K0.0%+6,400
Sei Investments Co82,018$206.7K0.0%−159,748
Marquette Asset Management, LLC79,326$199.9K0.0%New
XTX Topco Ltd55,102$138.9K0.0%+37,230
Northern Trust Corp49,760$125.4K0.0%−3,848
Marshall Wace, Llp43,654$110.0K0.0%New
Prelude Capital Management, LLC36,259$91.4K0.0%−198,167
Algert Global LLC34,401$86.7K0.0%New
Cruiser Capital Advisors, LLC31,778$80.1K0.0%No change

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How INVE Technologies, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARINVE Technologies, Inc.1
  • CIK0001036044
  • Employer ID (EIN)77-04443174
  • Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company4
  • Incorporated inDelaware4
  • Fiscal year endsDecember 311
  • Industry code (SIC)3577 Computer Peripheral Equipment, NEC1
  • SEC reviewing officeOffice of Technology, Division of Corporation Finance1
  • Business address1900-B Carnegie Ave., Santa Ana, CA 927051
  • Phone949-250-88881
  • Shares outstanding24,235,753 as of Aug 4, 202612
  • Public float$65.4M as of Jun 30, 20254
  • AuditorBPM LLP, San Jose, California PCAOB ID 207; no auditor attestation of internal control over financial reporting4
  • On EDGAR sinceJun 12, 19971
  • Filings1,423 in all: 4 (516), 8-K (324), 10-Q (87), 3 (45), SC 13G/A (44), DEFA14A (38), 425 (27), 10-K (26)1
    All 57 form types

    DEF 14A (26), 424B3 (20), S-8 (20), 4/A (19), CORRESP (19), 8-K/A (17), UPLOAD (16), EFFECT (14), S-3 (13), SC 13G (13), 5 (12), SC 13D/A (12), SD (10), 10-K/A (7), 424B5 (7), PRE 14A (7), S-3/A (6), SC 13D (6), SCHEDULE 13D/A (6), ARS (4), D (4), S-1/A (4), SCHEDULE 13G (4), SCHEDULE 13G/A (4), 10-K405 (3), 10-Q/A (3), 3/A (3), 8-A12G (3), NT 10-Q (3), POS AM (3), S-1 (3), 424B4 (2), DEFM14A (2), NT 10-K (2), NTN 10K (2), PREM14A (2), S-4 (2), S-4/A (2), 10-K405/A (1), 424B1 (1), 424B2 (1), AW (1), D/A (1), DEFR14A (1), DEL AM (1), NT 10-K/A (1), PRER14A (1), RW (1), SCHEDULE 13D (1)

  • Latest filingsAnnual report (10-K) Mar 26, 2026
    Quarterly report (10-Q) Aug 13, 2026
    Proxy statement (DEF 14A) Apr 30, 2025
    Latest 8-K (8-K) Sep 18, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, $0.001 par value per shareINVEThe Nasdaq Stock Market LLC

From the cover page of the 10-K filed Mar 26, 2026 (Section 12(b) of the Exchange Act).4

Risk factors and legal proceedings

The risks INVE Technologies, Inc. names in Item 1A of its 10-K filed Mar 26, 2026: 30 risks under these headings, as written.4

  • Risks Related to our Business, Products, and Industry
  • Failure to expand our business to penetrate new markets and scale successfully within those markets may negatively impact our revenues and financial condition.
  • The growing number of competitors in the RFID industry is posing additional risks to our business.
  • Our success depends largely on the continued service and availability of key personnel.
  • To the extent we pursue acquisitions, strategic alliances, or investments in other businesses, products, services, technologies or assets, we could experience operating difficulties and other consequences that may harm our business, financial condition, and operating results, and we may not be able to successfully consummate favorable transactions or successfully integrate such acquisitions.
  • Uncertainty regarding the use of proceeds from the Asset Sale and our future operations may negatively impact the value of our common stock.
  • We cannot provide any assurances that we will realize the intended benefits of the Asset Sale.
  • Changes in U.S. trade policy and the impact of tariffs may have a material adverse effect on our business and results of operations.
  • Adverse global and regional economic conditions have and may continue to materially adversely affect our business, results of operations and financial condition.
  • A material disruption or loss at our sole manufacturing facility could materially adversely affect our business, results of operations and financial condition.
  • We depend on a number of suppliers and contract manufacturers for the production of our products and components making us potentially vulnerable to supply disruption.
  • Our financial performance depends on the extent and pace of RFID market adoption and end-user adoption of our RFID products and the timing of new customer deployments.
The other 19 risks
  • The loss of one or more significant customers could harm our business.
  • Our business will not be successful if we do not keep up with the rapid changes in our industry.
  • Our business, operations, and reputation may be adversely affected by information technology system failures, breaches, or network disruptions.
  • Sales of our products could decline and we could be subject to legal claims for damages if our products are found to have defects.
  • The global nature of our business exposes us to operational, regulatory, political, and financial risks and our results of operations could be adversely affected if we are unable to manage them effectively.
  • If current or future export laws limit or otherwise restrict our business, we could be prohibited from shipping our products to certain countries, which could cause our business, financial condition and results of operations to suffer.
  • A portion of our revenue is through channel partners, and the loss of channel partners could result in decreased revenue.
  • We depend upon third-party manufacturers and a limited number of suppliers, and if we experience disruptions in our supply chain or manufacturing, our business may suffer.
  • The impact of health epidemics, pandemics and other outbreaks of infectious disease could negatively impact our operations, supply chain and customer base.
  • Risks Related to Our Financial Results
  • Our revenue and operating results are subject to significant fluctuations and such fluctuations may lead to a reduced market price for our stock.
  • Estimating the amount and mix of future revenues is difficult, and our failure to do so accurately could affect our ability to be profitable or reduce the market price for our stock.
  • Fluctuations in foreign exchange rates between the U.S. dollar and other major currencies in which we do business may adversely affect our business, financial condition and results of operations.
  • Risks Related to Our Intellectual Property
  • We may not be able to protect our intellectual property rights, which could make us less competitive and cause us to lose market share.
  • We face risks from claims of third parties and litigation, which could have an adverse effect on our results of operations.
  • Risks Relating to Our Financial Reporting and Disclosure
  • Any failure to maintain an effective system of disclosure and internal controls over financial reporting, or our ability to produce timely and accurate financial statements, could adversely affect investor confidence in us.
  • We incur significant expenses and administrative burdens as a public company, which could have an adverse effect on our business, financial condition and results of operations.
  • General Risk Factors
  • Our stock price has been and is likely to remain volatile.
  • You may experience dilution of your ownership interests due to the future issuance of additional shares of our stock, and future sales of shares of our common stock could adversely affect our stock price.
  • Provisions in our charter documents and Delaware law may delay or prevent our acquisition by another company, which could decrease the value of your shares.

Legal proceedings

We may from time to time become subject to various legal proceedings and claims arising in the ordinary course of business or could be named a defendant in other lawsuits. Legal proceedings could result in material costs, occupy significant management resources and entail penalties, even if we prevail. The outcome of such claims or other proceedings cannot be predicted with certainty and may have a material effect on our financial condition, results of operations or cash flows. We are not a party to any material legal proceedings as of December 31, 2025.

The opening of Item 3, Legal Proceedings.4

Sources

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  52. 52
  53. 53
  54. 54
  55. 55
  56. 56
  57. 57
  58. 58
  59. 59
  60. 60
  61. 61
    SEC EDGAROther events
  62. 62
  63. 63
  64. 64
    SEC EDGAROther events
  65. 65
  66. 66
  67. 67
  68. 68
  69. 69
  70. 70
  71. 71
  72. 72
  73. 73
  74. 74
  75. 75
  76. 76
  77. 77
  78. 78
  79. 79
  80. 80
  81. 81
  82. 82
  83. 83
  84. 84
  85. 85