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MOVE on Nasdaq

Corvex, Inc.

Corvex, Inc. is a surviving corporation and became a wholly owned subsidiary of the Company.1 It is headquartered in Arlington, Virginia.1 Its shares trade on Nasdaq under the symbol MOVE.1

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Last updated Oct 21, 2026.

Overview

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  • TickerMOVE on Nasdaq1
  • IndustryServices-Computer Processing & Data Preparation1
  • HeadquartersArlington, Virginia1
  • Incorporated inDE2
  • Business address3401 North Fairfax Drive, Arlington, Va 222262
  • Filer category, Emerging growth company2
  • Legal formCorporation

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OpCo, pursuant to which Corvex OpCo was the surviving corporation and became a wholly owned subsidiary of the Company (the “Merger”).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

-3580.4%Operating margin5
-4222.9%Net margin5
-57.3%Revenue growth, 20255

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue28¢$2.3M
  • Research and development72¢$5.7M

Out of $433.0K in revenue.5 The company lost money this year.

Financial statements

Revenue5$433.0K in 2025−57% since 2024
0$500.0K$1.0M$1.5M2024: $1.0M$1.0M20242025: $433.0K$433.0K2025−57%
Operating income67895-$15.5M in 2025+40% since 2020
-$40.0M-$30.0M-$20.0M-$10.0M02020: -$11.1M-$11.1M20202021: -$19.8M-$19.8M2021+78%2022: -$30.5M-$30.5M2022+54%2023: -$29.7M-$29.7M2023−3%2024: -$24.2M-$24.2M2024−18%2025: -$15.5M-$15.5M2025−36%
Net income67895-$18.3M in 2025+40% since 2020
-$40.0M-$30.0M-$20.0M-$10.0M02020: -$13.0M-$13.0M20202021: -$21.8M-$21.8M2021+67%2022: -$30.3M-$30.3M2022+39%2023: -$29.3M-$29.3M2023−3%2024: -$23.7M-$23.7M2024−19%2025: -$18.3M-$18.3M2025−23%

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

Period ending2025-12-312024-12-31
Revenue$433.0K$1.0M
Cost of revenue$2.3M$3.0M
Research and development$5.7M$11.2M
Sales, general and administrative$7.9M$11.0M
Total costs and expenses$15.9M$25.2M
Loss from operations-$15.5M-$24.2M
Interest expense (related party)-$3.0M
Interest and other income, net$183.0K$495.0K
Other income (expense), net-$2.8M$495.0K
Net loss and total comprehensive loss-$18.3M-$23.7M
Cumulative dividends on Series A preferred stock-$37.0K
Net loss - attributed to common stockholders-$18.3M-$23.7M
Net loss per share, basic (in Dollars per share)-$21.79-$39.39
Net loss per share, diluted (in Dollars per share)-$21.79-$39.39
Weighted average shares used in computing net loss per share, basic (in Shares)840.7K shares602.3K shares
Weighted average shares used in computing net loss per share, diluted (in Shares)840.7K shares602.3K shares

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Corporate structure

Corvex, Inc. sits at the top of its group. 4 entities, 2 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Corvex, Inc.

  • John Adler Crystal Iii. Filed SCHEDULE 13D on Corvex, Inc., latest Jul 8, 2026
  • Seth Demsey Filed SCHEDULE 13D on Corvex, Inc., latest Jul 8, 2026
  • Peter A. Appel Filed SC 13G on Corvex, Inc., latest Apr 10, 2024
  • Gregory S. Tamkin Filed SC 13G/A on Corvex, Inc., latest Apr 9, 2024 (2 filings since Feb 4, 2022)
  • William Tai-Wei Ho Filed SC 13G on Corvex, Inc., latest Feb 4, 2022
  • Corvex, Inc. Arlington, Virginia
    • Corvex Boston LLC Subsidiary · Delaware, United States
    • Corvex Legacy Holdings, Inc. Subsidiary · Delaware, United States
    • Movano Ireland Limited Subsidiary · Ireland

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 Corvex, 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$714.0K5 Dec 31, 2025$714.0K5 Dec 31, 20240%
Accumulated depreciation$613.0K5 Dec 31, 2025$501.0K5 Dec 31, 2024+22.4%
Property and equipment, net$101.0K5 Dec 31, 2025$213.0K5 Dec 31, 2024−52.6%
Operating-lease assets (leased space)$415.0K5 Dec 31, 2025$600.0K5 Dec 31, 2024−30.8%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$2.8M5 Dec 31, 2025$7.9M5 Dec 31, 2024−64.2%

Inventory

ItemLatestA year beforeChange
Inventory, total$1.8M5 Dec 31, 2025$2.0M5 Dec 31, 2024−13.7%
Raw materials$1.8M5 Dec 31, 2025$1.8M5 Dec 31, 2024−4.3%
Finished goods$201.0K5 Dec 31, 2024

Properties, in its own words

Our principal office is located at 3401 North Fairfax Drive, Suite 3230, Arlington, Virginia 22226, and is comprised of office and laboratory space that we occupy pursuant to a lease. See Note 12 Commitments and Contingencies of our consolidated financial statements for further discussion of this lease facility.

Item 2 of the 10-K filed Mar 31, 2026.4

Leadership

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

Chief executive

  1. Michael Aaron Leabman2021
  2. John Mastrototaro2021–2026
  3. John Adler Crystal Iii.2026
  4. Seth Demsey2026–now

President

  1. Michael Aaron Leabman2021

Chief financial officer

  1. Brian Cullinan2021
  2. Jeremy Cogan2021–2026
  3. Christopher Moreland2026–now
2025
Board members and other officers (12)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • Executive OfficerCogan Jeremy named Apr 17, 202430
  • DirectorEmily Chance Fairbarn named Sep 4, 202631

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • Corvex Boston LLC Delaware3
  • Corvex Legacy Holdings, Inc. Delaware3
  • Movano Ireland Limited Ireland3

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

Former names

  • Movano Inc.Apr 9, 2019 to Mar 19, 20262
  • Maestro Sensors Inc.Mar 20, 2018 to Mar 20, 20182

Timeline

  1. Oct 14, 20268-K Entered a material agreement32
  2. Sep 4, 20268-K Results of operations; Other events33
  3. Sep 2, 20268-K Entered a material agreement; Unregistered sale of shares; Regulation FD disclosure34
  4. Aug 14, 20268-K Results of operations35
  5. Jul 8, 2026New chief executive Seth Demsey becomes CEO13
  6. Jul 7, 20268-K Unregistered sale of shares; Executive or director change; Bylaws or fiscal year changed36
  7. Jun 26, 20268-K Other events37
  8. Jun 16, 20268-K Executive or director change; Regulation FD disclosure38
  9. May 19, 20268-K Results of operations39
  10. May 19, 20268-K Results of operations40
  11. May 1, 20268-K Financial statements and exhibits41
  12. Apr 28, 20268-K Change of auditor42
  13. Apr 9, 20268-K Other events43
  14. Mar 31, 2026New chief executive John Adler Crystal Iii. becomes CEO12
  15. Nov 18, 2021New chief executive John Mastrototaro becomes CEO15
  16. Mar 23, 2021New chief executive Michael Aaron Leabman becomes CEO14

Calendar

Coming up

  1. Nov 13, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported ($4.73) a share, on Nov 14, 2025.44

When it reported results

  1. Sep 4, 2026Reported quarterly or annual results33
  2. Aug 14, 2026Reported quarterly or annual results35
  3. May 19, 2026Reported quarterly or annual results39
  4. May 19, 2026Reported quarterly or annual results40
  5. Dec 22, 2025Reported quarterly or annual results45
  6. May 19, 2025Reported quarterly or annual results46
  7. Nov 14, 2024Reported quarterly or annual results47
  8. Aug 14, 2024Reported quarterly or annual results48

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

Filings

283 filings to the SEC since October 2021: 7 annual reports, 15 quarterly reports, 55 major events, 118 insider forms, 6 large holders, 2 private raises, 80 other. The latest 20:

  1. Oct 14, 20268-K CURRENT REPORT EDGAR
  2. Oct 14, 2026424B5 PROSPECTUS SUPPLEMENT EDGAR
  3. Oct 2, 2026EFFECT EDGAR
  4. Oct 2, 2026144 EDGAR
  5. Oct 2, 2026144 EDGAR
  6. Sep 25, 2026S-3 REGISTRATION STATEMENT EDGAR
  7. Sep 16, 2026EFFECT EDGAR
  8. Sep 4, 2026S-8 REGISTRATION STATEMENT EDGAR
  9. Sep 4, 2026S-3 REGISTRATION STATEMENT EDGAR
  10. Sep 4, 20268-K CURRENT REPORT EDGAR
  11. Sep 4, 2026D EDGAR
  12. Sep 2, 20268-K CURRENT REPORT EDGAR
  13. Aug 14, 20268-K CURRENT REPORT EDGAR
  14. Aug 14, 202610-Q QUARTERLY REPORT EDGAR
  15. Jul 22, 2026EFFECT EDGAR
  16. Jul 22, 2026424B7 PROSPECTUS EDGAR
  17. Jul 10, 2026S-1 REGISTRATION STATEMENT EDGAR
  18. Jul 8, 2026SCHEDULE 13D EDGAR
  19. Jul 8, 2026SCHEDULE 13D EDGAR
  20. Jul 8, 20264 EDGAR

The 283 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

40 open-market trades by officers, directors and large owners since October 2021: 29 buys and 11 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Jan 27, 2026Mastrototaro JohnChief Executive OfficerSale33,069$20.80$687.9KForm 4
Jan 27, 2026Cogan JeremyCFOSale28,736$20.78$597.3KForm 4
Jan 14, 2026Leabman Michael AaronChief Technology OfficerSale6,845$6.66$45.6KForm 4
Jan 13, 2026Leabman Michael AaronChief Technology OfficerSale2,076$6.94$14.4KForm 4
Jan 12, 2026Leabman Michael AaronChief Technology OfficerSale3,377$7.01$23.7KForm 4
Jan 9, 2026Leabman Michael AaronChief Technology OfficerSale783$7.27$5.7KForm 4
Jan 8, 2026Leabman Michael AaronChief Technology OfficerSale3,593$7.26$26.1KForm 4
Jan 7, 2026Leabman Michael AaronChief Technology OfficerSale3,293$7.34$24.2KForm 4
Jan 6, 2026Cogan JeremyCFOSale8,218$7.79$64.0KForm 4
Jan 5, 2026Cogan JeremyCFOSale1,879$8.35$15.7KForm 4
Jan 5, 2026Mastrototaro JohnChief Executive OfficerSale2,514$8.21$20.6KForm 4
Apr 2, 2024Caballero RubenDirectorBuy22,000Form 4
Apr 2, 2024Cogan JeremyCFOBuy45,000Form 4
Apr 2, 2024Cullinan BrianDirectorBuy44,000Form 4
Apr 2, 2024FAIRBAIRN EMILYDirectorBuy4,690,000Form 4
Apr 2, 2024Mastrototaro JohnChief Executive OfficerBuy176,500Form 4
Nov 14, 2023FAIRBAIRN EMILYDirectorBuy295,000$0.85$250.8KForm 4
Nov 14, 2023Mastrototaro JohnChief Executive OfficerBuy12,000$0.85$10.2KForm 4
Nov 14, 2023Cogan JeremyCFOBuy12,000$0.85$10.2KForm 4
Jun 13, 2023Cogan JeremyCFOBuy35,000$1.00$35.0KForm 4

All 40 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
2025J. CoganChief Financial Officer$314.9K$528.0K54
2025John MastrototaroFormer Chief Executive Officer (Current Chief Operating Officer)65$380.0K$502.0K54
2025Michael LeabmanFormer Chief Technology Officer$306.7K$354.1K54
2024John MastrototaroFormer Chief Executive Officer (Current Chief Operating Officer)65$361.0K$646.3K54
2024Michael LeabmanFormer Chief Technology Officer$347.5K$616.4K54
2024J. CoganChief Financial Officer$299.8K$385.6K54

Money raised

Private offerings the company reported to the SEC on Form D.

  1. Aug 31, 2026Raised $33 million in a private offering of equity Form D: 26 investors so far Form D
  2. Apr 2, 2024Raised $24.1 million in a private offering of equity Form D: 185 investors so far Form D

Held by these funds

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

FundSharesValueShare of the fundChange
Dorsey & Whitney Trust CO LLC50,969$1.1M0.1%+13,436
Raymond James Financial Inc45,977$997.9K0.0%+13,134
Jane Street Group, LLC31,897$692.3K0.0%New
Northern Trust Corp26,261$570.0K0.0%New
Vanguard Capital Management LLC21,576$468.3K0.0%+15,425
Geode Capital Management, LLC18,987$412.1K0.0%New
Renaissance Technologies LLC15,647$339.6K0.0%New
Vanguard Fiduciary Trust Co8,392$182.1K0.0%+2,212
BlackRock, Inc.5,981$129.8K0.0%+5,946
Morgan Stanley5,581$121.1K0.0%New
Clearstead Advisors, LLC3,140$68.2K0.0%New
Tower Research Capital LLC (TRC)1,168$25.4K0.0%New
Northwestern Mutual Wealth Management Co1,004$21.8K0.0%+263
UBS Group AG825$17.9K0.0%−2,649
Barclays PLC183$4.0K0.0%New
Jpmorgan Chase & Co89$1.8K0.0%+23
Osaic Holdings, Inc.67$1.5K0.0%+17
Royal Bank Of Canada69$1.0K0.0%New
Hrt Financial LP10,015$2170.0%New
Evolution Wealth Management Inc.4$870.0%+1

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

SEC filer profile

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

  • Name on EDGARCorvex, Inc.1
  • CIK0001734750
  • Employer ID (EIN)82-42337714
  • Filer statusNon-accelerated filer an emerging growth company; a smaller reporting company; not a shell company4
  • Incorporated inDelaware4
  • Fiscal year endsDecember 311
  • Industry code (SIC)7374 Services-Computer Processing & Data Preparation1
  • SEC reviewing officeOffice of Technology, Division of Corporation Finance1
  • Business address3401 North Fairfax Drive, Arlington, VA 222261
  • Phone866-438-47871
  • Shares outstanding27,647,305 as of Aug 11, 202611
  • Public float$5.3M as of Jun 30, 20254
  • AuditorRBSM LLP, Larkspur, California PCAOB ID 587; no auditor attestation of internal control over financial reporting4
  • On EDGAR sinceMar 20, 20181
  • Filings326 in all: 4 (118), 8-K (56), 10-Q (17), 3 (17), 424B5 (12), 144 (7), EFFECT (7), 425 (6)1
    All 39 form types

    DEF 14A (6), S-8 (6), 10-K (5), CORRESP (5), D (5), PRE 14A (5), ARS (4), NT 10-Q (4), S-1 (4), S-1/A (4), S-3 (4), UPLOAD (4), 424B7 (3), DEFA14A (3), SC 13G (3), 10-K/A (2), 8-K/A (2), DRS/A (2), NT 10-K (2), SCHEDULE 13D (2), 8-A12B (1), CERT (1), DRS (1), DRSLTR (1), PRER14A (1), RW (1), S-1MEF (1), S-3/A (1), S-4 (1), S-4/A (1), SC 13G/A (1)

  • Latest filingsAnnual report (10-K) Mar 31, 2026
    Quarterly report (10-Q) Aug 14, 2026
    Proxy statement (DEF 14A) Jun 5, 2026
    Latest 8-K (8-K) Oct 14, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, par value $0.0001 per shareMOVENasdaq

From the cover page of the 10-K filed Mar 31, 2026 (Section 12(b) of the Exchange Act).4

Risk factors and legal proceedings

The risks Corvex, Inc. names in Item 1A of its 10-K filed Mar 31, 2026: 73 risks under these headings, as written.4

  • The financial information presented in this “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” relate only to the historical operations of the Company prior to the completion of the Merger, which principally reflect our Healthcare Business, and should be read in that context, unless specified otherwise. Accordingly, the historical results presented herein are not inclusive of the financial position, results of operations and cash flows of Corvex OpCo, which principally reflect our AI Cloud Computing Business.
  • The occurrence of any of the events or developments described below could harm our business, financial condition, results of operations and growth prospects. In such an event, the market price of our common stock could decline and you may lose all or part of your investment. Additional risks and uncertainties not presently known to us or that we currently deem immaterial also may impair our business operations. We may update these risk factors in our periodic and other filings with the SEC.
  • Risks Related to the Combined Company Following the Merger with Predecessor Movano
  • The market price of our common stock after the merger may be affected by factors different from those that historically affected the market price of our common stock.
  • Our business relationships may be subject to disruption due to uncertainty associated with the merger.
  • We may fail to realize the anticipated benefits of the Merger.
  • If the Merger does not qualify as a “reorganization” under Section 368(a) of the Code, stockholders of Corvex common stock may be required to recognize gain or loss for U.S. federal income tax purposes upon the exchange of Corvex common stock for our Common Stock in the Merger.
  • Potential litigation against the Company could result in substantial costs and divert management’s attention.
  • The expected dilution caused by the issuance of our securities in connection with the Merger may adversely affect the market price of our Common Stock.
  • Pursuant to the terms of the Merger Agreement, we are required to obtain stockholder approval for conversion of all outstanding shares of our Series C and Series D Preferred Stock into shares of our common stock. We cannot guarantee that our stockholders will approve this matter.
  • Risks Related to our AI Cloud Computing Business and Industry
  • Our recent growth may not be indicative of our future growth, and if we do not effectively manage our future growth, our business, operating results, financial condition, and prospects may be adversely affected.
The other 63 risks
  • We have a limited number of suppliers for significant components of the equipment it uses to build and operate our platform and provide our solutions and services. Any disruption in the availability of these components could delay our ability to expand or increase the capacity of our infrastructure or replace defective equipment.
  • Our business would be harmed if we are not able to access sufficient power or by increased costs to procure power, prolonged power outages, shortages, or capacity constraints.
  • If our data center providers fail to meet the requirements of our business, or if the data center facilities experience damage, interruption, or a security breach, our ability to provide access to our infrastructure and maintain the performance of our network could be negatively impacted.
  • A substantial portion of our revenue is driven by a limited number of our customers, and the loss of, or a significant reduction in, spend from one or a few of our top customers would adversely affect our business, operating results, financial condition, and prospects.
  • If we fail to efficiently enhance our platform and develop and sell new solutions and services and respond effectively to rapidly changing technology, evolving industry standards, changing regulations, and changing customer needs, requirements, or preferences, our platform may become less competitive.
  • The broader adoption, use, and commercialization of AI technology, and the continued rapid pace of developments in the AI field, are inherently uncertain. Failure by our customers to continue to use our platform to support AI use cases in their systems, or our ability to keep up with evolving AI technology requirements and regulatory frameworks, could have a material adverse effect on our business, operating results, financial condition, and prospects.
  • Our operations require substantial capital expenditures, and we will require additional capital to fund our business and support our growth, and any inability to generate or obtain such capital on acceptable terms, if at all, or to lower our total cost of capital, may adversely affect our business, operating results, financial condition, and prospects.
  • Certain of our lease agreements require a pledge of our property and equipment as collateral, which may result in the lessors taking possession of such collateral in the event of a payment default.
  • Our operating results may fluctuate significantly, which could make our future results difficult to predict and could cause our operating results to fall below expectations.
  • We face intense competition and could lose market share to our competitors, which would adversely affect our business, operating results, financial condition, and prospects.
  • A network or data security incident against us, or our third-party providers, whether actual, alleged, or perceived, could harm our reputation, create liability and regulatory exposure, and adversely impact our business, operating results, financial condition, and prospects.
  • We have a history of generating net losses as a result of the substantial investments we have made to grow our business and develop our platform, anticipate increases in our operating expenses in the future, and may not achieve or, if achieved, sustain profitability. If we cannot achieve and, if achieved, sustain profitability, our business, operating results, financial condition, and prospects will be adversely affected.
  • We make substantial investments in our technology and infrastructure, and unsuccessful investments could materially adversely affect our business, operating results, financial condition, and prospects.
  • Our platform is complex and performance problems, defects or vulnerabilities associated with our platform may adversely affect our business, operating results, financial condition, and prospects.
  • Any failure of our IT systems or those of one or more of our IT service providers, business partners, vendors, suppliers, or other third-party service providers, or any other failure by such third parties to provide services to us may negatively impact our relationships with customers and harm our business.
  • Corvex has a limited operating history, which makes it difficult to evaluate our current business and prospects and increases the risks associated with investment in our common stock.
  • If we are unable to attract new customers, retain existing customers, and/or expand sales of our platform, solutions, and services to such customers, we may not achieve the growth we expect, which would adversely affect our business, operating results, financial condition, and prospects.
  • If we are unable to successfully build, expand, and deploy our sales organization in a timely manner, or at all, or to successfully hire, retain, train, and motivate our sales personnel, our growth and long-term success could be adversely impacted.
  • If we do not or cannot maintain the compatibility of our platform with our customers’ existing technology, including third-party technologies that our customers use in their businesses, our business may be adversely affected.
  • If we are not able to maintain and enhance our brand, our business, operating results, financial condition, and prospects may be adversely affected.
  • As we expand our customer base, we may become further subject to counterparty credit risk, which would adversely impact our business, operating results, financial condition, and prospects.
  • Our long-term success may in part depend on our ability to expand the sale of our platform to customers located outside of the United States, and such international operations would expose it to risks that could have a material adverse effect on our business, operating results, financial condition, and prospects.
  • Our sales cycles can be long and unpredictable, and our sales efforts require considerable time and expense.
  • The sales prices of our offerings may decrease, which may reduce our margins and adversely affect our business, operating results, financial condition, and prospects.
  • Our estimates of market opportunity and forecasts of market growth may prove to be inaccurate, and even if the markets in which we compete achieve the forecasted growth, our business could fail to grow at similar rates, if at all.
  • We may in the future enter into collaborations or strategic alliances with third parties. If we are unsuccessful in establishing or maintaining strategic relationships with these third parties or if these third parties fail to deliver certain operational services, our business, operating results, financial condition, and prospects could be adversely affected.
  • Potential future joint ventures, acquisitions, strategic investments, partnerships, or alliances may not achieve their intended benefits, may be difficult and costly to execute or integrate, may expose us to additional risks and liabilities (including non-controlling interests and shared decision-making), and could adversely affect our business, operating results, financial condition, and prospects.
  • Future acquisitions could include real property and subject us to the general risks associated with the ownership of real property.
  • If negative publicity arises with respect to us, our employees, our third-party suppliers, service providers, or our partners, our business, operating results, financial condition, and prospects could be adversely affected, regardless of whether the negative publicity is true.
  • Our ability to maintain customer satisfaction depends in part on the quality of our customer support and cloud operations services. Our failure to maintain high-quality customer support and cloud operations services could have an adverse effect on our business, operating results, financial condition, and prospects.
  • We rely on our management team and other key employees and will need additional personnel to grow our business, and the loss of one or more key employees or our inability to attract and retain qualified personnel, including members of our board of directors, could harm our business.
  • We believe that our corporate culture has contributed to our success, and if we cannot maintain this culture as we grow, we could lose the innovation, creativity, and teamwork fostered by our culture, and our business may be harmed.
  • Risks Related to Our Healthcare Business
  • Our healthcare business has a limited history of generating revenue, have a history of operating losses, and we may never achieve or maintain profitability.
  • We face competition from other technology companies and our operating results will suffer if we fail to compete effectively.
  • We are subject to risks associated with our utilization of consultants.
  • We depend on third parties to design, manufacture, market and distribute our products. If any third party fails to successfully design, manufacture, market or distribute any of our products, our business will be materially harmed.
  • Risks Related to Intellectual Property
  • Failure to obtain, maintain, protect, or enforce our intellectual property and proprietary rights could enable others to copy or use aspects of our platform without compensating it, which could harm our brand, business, operating results, financial condition, and prospects.
  • Third parties may claim that our platform infringes, misappropriates, or otherwise violates our intellectual property rights, and such claims could be time-consuming or costly to defend or settle, result in the loss of significant rights, or harm our relationships with our customers or reputation in the industry.
  • We license technology from third parties for the development of our solutions, and our inability to maintain those licenses could harm our business.
  • Some of our technology incorporates “open-source” software, and failure to comply with the terms of the underlying open-source software licenses could adversely affect our business, results of operations, financial condition, and prospects.
  • Risks Related to Legal Matters and Regulation
  • We are subject to laws and regulations, including governmental export and import controls, sanctions, and anti-corruption laws, that could impair our ability to compete in our markets and subject it to liability if we are not in full compliance with applicable laws.
  • Our customer and counterparty diligence obligations may increase, and any failure to implement and maintain effective know-your-customer, anti-money laundering and sanctions compliance controls could adversely affect us.
  • We are subject to laws, regulations, and industry requirements related to data privacy, data protection and information security across different markets where it conducts our business and such laws, regulations, and industry requirements are constantly evolving and changing. Any actual or perceived failure to comply with such laws, regulations, and industry requirements, or our privacy policies, could harm our business.
  • We could become subject to product liability claims, product recalls and warranty claims that could be expensive, divert management’s attention and harm our business.
  • FDA clearance of the pulse oximetry feature of our Medical Ring does not ensure commercial success of the product.
  • Our Medical Ring is subject to ongoing regulatory obligations and review and failure to comply with applicable regulatory requirements may adversely affect our business and operations.
  • If any OEMs contracted to manufacture our products fail to comply with FDA’s Quality System Regulations or other regulatory bodies’ equivalent regulations, manufacturing operations could be delayed or shut down and the development of our products could suffer.
  • We expect our planned solution to be subject to certain Federal Communication Commission (“FCC”) regulations.
  • Healthcare reform measures could hinder or prevent the commercial success of our healthcare business.
  • If we fail to comply with healthcare regulations with respect to our current or future Movano products, we could face substantial penalties and our business, operations and financial condition could be adversely affected.
  • We may become involved in litigation that may adversely affect us.
  • Risks Related to Financial and Accounting Matters
  • We have identified material weaknesses in our internal control over financial reporting. If our remediation of such material weaknesses is not effective, or if we experience additional material weaknesses in the future or otherwise fail to develop and maintain effective internal control over financial reporting, our ability to produce timely and accurate financial statements or comply with applicable laws and regulations could be impaired.
  • We incur significant costs and management resources as a result of operating as a public company.
  • We could be subject to additional tax liabilities and United States federal and global income tax reform could adversely affect it.
  • Our ability to use our net operating loss carryforwards and certain other tax attributes may be limited.
  • We could be required to collect additional sales, use, value added, digital services, or other similar taxes or be subject to other liabilities with respect to past or future sales, that may increase the costs our customers would have to pay for our solutions and adversely affect our business, operating results, financial condition, and prospects.
  • If our estimates or judgments relating to our critical accounting policies prove to be incorrect or financial reporting standards or interpretations change, our operating results could be adversely affected.
  • We are exposed to fluctuations in currency exchange rates, which could negatively affect our business, operating results, financial condition, and prospects.
  • Risks Related to the Company Generally
  • Adverse global macroeconomic conditions, geopolitical risks, or reduced spending on AI and machine learning or on cloud infrastructure could adversely affect our business, operating results, financial condition, and prospects.
  • We may be adversely affected by natural disasters, pandemics, and other catastrophic events, and by man-made problems such as war and regional geopolitical conflicts around the world, that could disrupt our business operations, and our business continuity and disaster recovery plans may not adequately protect us from a serious disaster.
  • Environmental, social, and governance factors may impose additional costs and expose us to new risks.
  • The level of insurance coverage that we purchase may prove to be inadequate, which could materially and adversely impact our business, financial condition, and results of operations.
  • Our business is affected by macroeconomic conditions.

Legal proceedings

We are not currently a party to any pending legal proceedings that we believe will have a material adverse effect on our business or financial conditions. We may, however, be subject to various claims and legal actions arising in the ordinary course of business from time to time.

The opening of Item 3, Legal Proceedings.4

Sources

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