NXDR on Nasdaq

Nextdoor

Nextdoor is an essential neighborhood network connecting over 105 million Verified Neighbors 1 to the people.1 It was founded in 2010.1 It is headquartered in San Francisco.1 Its shares trade on Nasdaq under the symbol NXDR.1

Price unavailable

Last updated Oct 21, 2026.

Overview

$257.6MRevenue, fiscal 20253
-$54.2MNet income, fiscal 20253
Jan 1, 2010Founded1

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  • TickerNXDR on Nasdaq1
  • Industrysocial media1
  • HeadquartersSan Francisco1
  • Websitenextdoor.com
  • Incorporated inDE4
  • Business address420 Taylor Street, San Francisco, Ca 940124
  • Filer categoryAccelerated filer4

Nextdoor is the essential neighborhood network connecting over 105 million Verified Neighbors 1 to the people, places, and information that matter most in their local communities. Operating in over 350,000 neighborhoods across 11 countries, Nextdoor fosters trusted, real-world utility through locally relevant content and services, including news, real-time safety alerts, neighbor recommendations, for sale and free listings, and events. This focus on practical local value drives genuine, high-intent local engagement and supports a diverse ecosystem of neighbors and partners seeking to connect with neighbors.5 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

-27.9%Operating margin3
-21.0%Net margin3
4.2%Revenue growth, 20253
-12.6%Return on equity3
$5.9MFree cash flow3

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue16¢$41.0M
  • Research and development52¢$135.2M
  • Other costs31¢$79.8M
  • Income tax1¢$1.6M

Out of $257.6M in revenue.3 The company lost money this year.

Where each dollar of operating cash went, fiscal 2025

  • Capital spending3¢$580.0K
  • Share buybacks97¢$18.9M

Out of $6.5M of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.3

Financial statements

Revenue6783$257.6M in 2025+109% since 2020
0$100.0M$200.0M$300.0M2020: $123.3M$123.3M20202021: $192.2M$192.2M2021+56%2022: $212.8M$212.8M2022+11%2023: $218.3M$218.3M2023+3%2024: $247.3M$247.3M2024+13%2025: $257.6M$257.6M2025+4%
Operating income6783-$71.9M in 2025−6% since 2020
-$200.0M-$150.0M-$100.0M-$50.0M02020: -$76.7M-$76.7M20202021: -$94.8M-$94.8M2021+24%2022: -$144.2M-$144.2M2022+52%2023: -$172.3M-$172.3M2023+19%2024: -$121.6M-$121.6M2024−29%2025: -$71.9M-$71.9M2025−41%
Net income6783-$54.2M in 2025−28% since 2020
-$150.0M-$100.0M-$50.0M02020: -$75.2M-$75.2M20202021: -$95.3M-$95.3M2021+27%2022: -$137.9M-$137.9M2022+45%2023: -$147.8M-$147.8M2023+7%2024: -$98.1M-$98.1M2024−34%2025: -$54.2M-$54.2M2025−45%
Fiscal year2019202020212022202320242025
Revenue$123.3M6$192.2M7$212.8M8$218.3M3$247.3M3$257.6M3
Cost of revenue$21.6M6$28.8M7$39.0M8$41.6M3$41.9M3$41.0M3
Research and development$69.2M6$97.1M7$127.1M8$150.0M3$127.9M3$135.2M3
Operating expenses$287.0M7$357.0M8$390.6M3$368.9M3$329.6M3
Operating income-$76.7M6-$94.8M7-$144.2M8-$172.3M3-$121.6M3-$71.9M3
Income before tax-$95.2M7-$136.2M8-$147.0M3-$97.4M3-$52.6M3
Income tax$127.0K6$157.0K7$1.7M8$756.0K3$706.0K3$1.6M3
Net income-$75.2M6-$95.3M7-$137.9M8-$147.8M3-$98.1M3-$54.2M3
Earnings per share-$0.836-$0.657-$0.368-$0.393-$0.253-$0.143
Earnings per share (diluted)-$0.836-$0.657-$0.368-$0.393-$0.253-$0.143
Shares (weighted, basic)146.3M shares7378.7M shares8379.3M shares3385.1M shares3386.3M shares3
Shares (weighted, diluted)146.3M shares7378.7M shares8379.3M shares3385.1M shares3386.3M shares3

Compare Nextdoor with another company

Corporate structure

Nextdoor sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Nextdoor

  • Nextdoor San Francisco

Built from subsidiaries, stakes and holdings from Wikidata (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Nextdoor 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
Computer equipment and software$03 Dec 31, 2025$03 Dec 31, 2024
Property and equipment, before depreciation$13.0M3 Dec 31, 2025$13.7M3 Dec 31, 2024−5.1%
Accumulated depreciation$11.3M3 Dec 31, 2025$10.9M3 Dec 31, 2024+3.7%
Property and equipment, net$1.6M3 Dec 31, 2025$2.7M3 Dec 31, 2024−40.4%
Operating-lease assets (leased space)$11.6M3 Dec 31, 2025$14.4M3 Dec 31, 2024−19.9%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$63.3M3 Dec 31, 2025$45.5M3 Dec 31, 2024+39.1%
Marketable securities, current$341.4M3 Dec 31, 2025$381.4M3 Dec 31, 2024−10.5%
Debt securities available for sale$341.4M3 Dec 31, 2025$381.4M3 Dec 31, 2024−10.5%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$1.2M3 Dec 31, 2025$1.2M3 Dec 31, 20240%
Intangible assets, net (excluding goodwill)$257.0K8 Dec 31, 2024$1.3M8 Dec 31, 2023−80.2%
Finite-lived intangibles, gross$11.7M8 Dec 31, 2024$11.7M8 Dec 31, 20230%
Accumulated amortization$11.4M8 Dec 31, 2024$10.4M8 Dec 31, 2023+10.1%
Finite-lived intangibles, net$257.0K8 Dec 31, 2024$1.3M8 Dec 31, 2023−80.2%

Properties, in its own words

We are headquartered in San Francisco, California. As of December 31, 2025, we maintained offices in various locations in the United States and internationally, including approximately 115,770 square feet for our corporate headquarters of which we occupy approximately 51,000 square feet following the June 2024 partial abandonment. All of our facilities are leased. We believe that our current facilities are adequate to meet our current needs and that, should it be needed, suitable additional or alternative space will be available to accommodate our operations.

Item 2 of the 10-K filed Feb 18, 2026.5

Stakes and holdings (Wikidata)

Things Wikidata records the company as owning, with the share when stated.1

Leadership

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

Board members and other officers (21)

Subsidiaries and ownership

Also owns

From Wikidata.1

Former names

  • Khosla Ventures Acquisition Co. IIFeb 12, 2021 to Nov 3, 20214

Timeline

  1. Oct 1, 20268-K Listing notice or transfer; Regulation FD disclosure38
  2. Sep 25, 20268-K Executive or director change39
  3. Aug 4, 20268-K Results of operations40
  4. Jun 15, 20268-K Shareholder vote41
  5. May 6, 20268-K Results of operations; Other events42
  6. Feb 18, 20268-K Results of operations43
  7. Nov 5, 20258-K Results of operations; Executive or director change; Regulation FD disclosure44
  8. Aug 7, 20258-K Results of operations; Exit or restructuring costs; Executive or director change45
  9. Jul 11, 20258-K Regulation FD disclosure; Other events46
  10. Jun 13, 20258-K Shareholder vote47
  11. May 7, 20258-K Results of operations48
  12. Feb 27, 20258-K Results of operations49
  13. Nov 9, 2021New chief executive Sarah Friar becomes CEO15
  14. Nov 8, 2021Went public Listed on NYSE1
  15. Mar 23, 2021New chief executive Samir Kaul becomes CEO14
  16. Jan 1, 2010Founded Founded1

Calendar

Coming up

  1. Nov 5, 2026 · Before the openReports results for the quarter ending Sep/2026 A year earlier it reported ($0.02) a share, on Nov 5, 2025.50

When it reported results

  1. Aug 4, 2026Reported quarterly or annual results40
  2. May 6, 2026Reported quarterly or annual results42
  3. Feb 18, 2026Reported quarterly or annual results43
  4. Nov 5, 2025Reported quarterly or annual results44
  5. Aug 7, 2025Reported quarterly or annual results45
  6. May 7, 2025Reported quarterly or annual results48
  7. Feb 27, 2025Reported quarterly or annual results49
  8. Nov 6, 2024Reported quarterly or annual results51

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

Filings

598 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 45 major events, 360 insider forms, 59 large holders, 114 other. The latest 20:

  1. Oct 15, 20264 EDGAR
  2. Oct 13, 202625 EDGAR
  3. Oct 13, 2026CERT EDGAR
  4. Oct 5, 20268-A12B EDGAR
  5. Oct 2, 20264 EDGAR
  6. Oct 2, 20264 EDGAR
  7. Oct 2, 20264 EDGAR
  8. Oct 2, 20264 EDGAR
  9. Oct 2, 20264 EDGAR
  10. Oct 1, 20268-K EDGAR
  11. Sep 25, 20268-K EDGAR
  12. Sep 24, 20264 EDGAR
  13. Sep 24, 2026144 EDGAR
  14. Sep 23, 20264 EDGAR
  15. Sep 21, 2026144 EDGAR
  16. Sep 17, 20264 EDGAR
  17. Sep 15, 2026144 EDGAR
  18. Sep 4, 20264 EDGAR
  19. Sep 2, 2026144 EDGAR
  20. Aug 25, 20264 EDGAR

The 598 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

71 open-market trades by officers, directors and large owners since October 2021: 23 buys and 48 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Sep 22, 2026Kiernan MichaelChief Revenue OfficerSale50,000$2.54$127.0KForm 4
Sep 21, 2026How AntoinetteChief Accounting OfficerSale40,000$2.63$105.2KForm 4
Sep 15, 2026How AntoinetteChief Accounting OfficerSale154,893$2.43$376.4KForm 4
Sep 2, 2026How AntoinetteChief Accounting OfficerSale35,581$2.25$80.1KForm 4
Aug 21, 2026Kiernan MichaelChief Revenue OfficerSale111,559$2.39$266.6KForm 4
Aug 17, 2026Schwartz SophiaChief Legal Officer, SecretarySale2,500$2.51$6.3KForm 4
Jul 16, 2026Lisowski CraigPresident of ProductsSale30,000$2.51$75.3KForm 4
Jul 16, 2026How AntoinetteChief Accounting OfficerSale9,424$2.48$23.4KForm 4
Jul 16, 2026Schwartz SophiaChief Legal Officer, SecretarySale52,582$2.49$130.9KForm 4
Jul 14, 2026Lisowski CraigPresident of ProductsSale60,000$2.50$150.0KForm 4
Jun 22, 2026Schwartz SophiaChief Legal Officer, SecretarySale28,616$2.25$64.4KForm 4
Apr 16, 2026Schwartz SophiaChief Legal Officer, SecretarySale43,015$1.53$65.8KForm 4
Apr 16, 2026How AntoinetteChief Accounting OfficerSale15,597$1.51$23.6KForm 4
Feb 18, 2026Schwartz SophiaChief Legal Officer, SecretarySale2,500$1.65$4.1KForm 4
Jan 16, 2026How AntoinetteChief Accounting OfficerSale13,935$1.95$27.2KForm 4
Jan 16, 2026Schwartz SophiaChief Legal Officer, SecretarySale23,278$1.95$45.4KForm 4
Jan 2, 2026Schwartz SophiaChief Legal Officer, SecretarySale12,522$2.07$25.9KForm 4
Dec 15, 2025Schwartz SophiaChief Legal Officer, SecretarySale40,000$2.17$86.8KForm 4
Dec 10, 2025Lisowski CraigPresident of ProductsSale30,000$2.52$75.6KForm 4
Dec 10, 2025How AntoinetteChief Accounting OfficerSale31,894$2.63$83.9KForm 4

All 71 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
2025Craig LisowskiPresident of Products$550.0K$3.7M74
2025Indrajit PonnambalamChief Financial Officer and Treasurer$45.8K$3.5M74
2025Nirav ToliaChief Executive Officer and President54$500.0K$3.3M74
2025Sophia SchwartzChief Legal Officer and Secretary$550.0K$1.2M74
2025Matt AndersonFormer Chief Financial Officer and Treasurer$368.8K$1.0M74
2025Michael KiernanChief Revenue Officer$375.0K$722.9K74
2024Nirav ToliaChief Executive Officer and President54$395.8K$21.2M74
2024Sophia SchwartzChief Legal Officer and Secretary$479.7K$3.2M74
2024Matt AndersonFormer Chief Financial Officer and Treasurer$531.2K$3.0M74
2023Matt AndersonFormer Chief Financial Officer and Treasurer$363.7K$2.2M74

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.21,497,198$48.8M0.0%+1,174,094
Vanguard Capital Management LLC10,168,061$23.1M0.0%+494,582
State Street Corp6,038,676$13.7M0.0%+372,869
Geode Capital Management, LLC5,982,766$13.6M0.0%+577,640
Mackenzie Financial Corp5,947,673$13.5M0.0%New
Bond Capital Management, LP5,458,871$12.4M4.1%−2,896,734
Westerly Capital Management, LLC4,850,000$11.0M2.0%−650,000
Millennium Management LLC4,431,031$10.1M0.0%+614,093
Vanguard Portfolio Management LLC3,874,891$8.8M0.0%+717,925
Quinn Opportunity Partners LLC3,689,476$8.4M0.4%+298,522
Algert Global LLC3,599,009$8.2M0.1%+538,403
Qube Research & Technologies Ltd3,313,749$7.5M0.0%+10,712
Aqr Capital Management LLC3,027,184$6.9M0.0%+289,486
Jacobs Levy Equity Management, Inc2,911,537$6.6M0.0%−234,326
Tudor Investment Corp Et Al2,721,518$6.2M0.0%+157,894
AWM Investment Company, Inc.2,655,204$6.0M0.5%+501,366
Arrowstreet Capital, Limited Partnership2,631,065$6.0M0.0%−76,680
Citadel Advisors LLC2,291,435$5.2M0.0%−330,487
Dimensional Fund Advisors LP2,258,411$5.1M0.0%+839,372
D. E. Shaw & Co., Inc.2,229,851$5.1M0.0%−740,424
Renaissance Technologies LLC2,220,000$5.0M0.0%−892,000
Northern Trust Corp2,038,587$4.6M0.0%+242,704
Charles Schwab Investment Management Inc1,970,218$4.5M0.0%+110,011
Fmr LLC1,903,888$4.3M0.0%+1,528,362
Goldman Sachs Group Inc1,568,753$3.6M0.0%+69,425

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

SEC filer profile

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

  • Name on EDGARNextdoor Holdings, Inc.2
  • CIK0001846069
  • Employer ID (EIN)86-17768365
  • Filer statusAccelerated filer not an emerging growth company; not a smaller reporting company; not a shell company5
  • Incorporated inDelaware5
  • Fiscal year endsDecember 312
  • Industry code (SIC)7370 Services-Computer Programming, Data Processing, Etc.2
  • SEC reviewing officeOffice of Technology, Division of Corporation Finance2
  • Business address420 Taylor Street, San Francisco, CA 940122
  • Phone415-344-03332
  • Shares outstanding260,137,108 Common Class A shares; 127,588,294 Common Class B shares as of Feb 13, 20265
  • Public float$434.4M as of Jun 30, 20255
  • AuditorErnst & Young LLP, San Francisco, California PCAOB ID 42; it also attests to the company’s internal control over financial reporting5
  • On EDGAR sinceFeb 12, 20212
  • Filings702 in all: 4 (320), 425 (68), 8-K (56), 144 (46), 3 (36), 10-Q (17), SC 13G/A (17), SC 13G (16)2
    All 38 form types

    4/A (13), SCHEDULE 13G/A (11), 424B3 (10), SC 13D/A (10), DEFA14A (8), SC 13D (7), 10-K (5), 10-Q/A (5), CORRESP (5), DEF 14A (5), EFFECT (5), S-8 (5), ARS (4), S-4/A (4), UPLOAD (4), 8-A12B (3), CERT (3), 25 (2), NT 10-Q (2), POS AM (2), S-1 (2), S-1/A (2), SCHEDULE 13G (2), 144/A (1), 424B4 (1), 5 (1), DEFR14A (1), PRE 14A (1), S-4 (1), SCHEDULE 13D/A (1)

  • Latest filingsAnnual report (10-K) Feb 18, 2026
    Quarterly report (10-Q) Aug 4, 2026
    Proxy statement (DEF 14A) Apr 20, 2026
    Latest 8-K (8-K) Oct 1, 2026

Securities registered for trading

ClassSymbolExchange
Class A common stock, par value $0.0001 per shareNXDRNew York Stock Exchange

From the cover page of the 10-K filed Feb 18, 2026 (Section 12(b) of the Exchange Act).5

Risk factors and legal proceedings

The risks Nextdoor names in Item 1A of its 10-K filed Feb 18, 2026: 55 risks under these headings, as written.5

  • Risks Related to Our Business and Industry
  • We have a limited operating history at the current scale of our business and are still scaling up our monetization efforts, which makes it difficult to evaluate our current business and future prospects, and there is no assurance we will be able to scale our business for future growth.
  • Adverse global economic and financial conditions could harm our business and financial condition.
  • We currently generate substantially all of our revenue from advertising. If advertisers reduce or eliminate their spending with us, our business, operating results, and financial condition would be adversely impacted.
  • Our ability to attract and retain advertisers depends on our ability to collect and use data and develop products to enable us to effectively deliver and accurately measure advertisements on the Nextdoor platform.
  • If we fail to add new neighbors or retain current neighbors, or if current neighbors engage less with the Nextdoor platform, our business, operating results, and financial condition would be adversely impacted.
  • Our business is highly competitive. Competition presents an ongoing threat to the success of our business.
  • Our business is dependent on our ability to maintain and scale our product offerings and technical infrastructure, and any significant disruption in the availability of our platform could damage our reputation, result in a potential loss of neighbors and engagement, and adversely affect our business, operating results, and financial condition.
  • If we fail to scale our business effectively, our business, operating results, and financial condition would be adversely affected.
  • If we or our industry generally are unable to provide a high-quality and secure customer experience in the various locales in which we operate, our brand could suffer reputational damage and our business results could be harmed.
  • If we do not successfully anticipate market needs and develop products and services and platform enhancements that meet those needs, or if those products, services, and platform enhancements do not gain market acceptance, our business, operating results, and financial condition will be adversely impacted.
  • We may not be successful in our AI initiatives, which could adversely affect our business, reputation, or financial results.
The other 44 risks
  • If our efforts to build strong brand identity and reputation are not successful, we may not be able to attract or retain neighbors, and our business, operating results, and financial condition will be adversely affected.
  • Unfavorable media coverage negatively affects our business from time to time.
  • Our product and investment decisions may conflict with the short-term financial results and may not produce the long-term benefits that we expect.
  • We may expand our international operations where we have limited operating experience and may be subject to increased business, regulatory, and economic risks that could seriously harm our business, operating results, and financial condition.
  • If we need additional capital in the future, it may not be available on favorable terms, if at all.
  • We may make acquisitions, which could harm our financial condition or operating results and may adversely affect the price of our Class A common stock.
  • Our business depends largely on our ability to attract, retain, and assimilate talented employees, including senior management. If we lose the services of or fail to successfully assimilate highly skilled personnel, key employees or members of our senior management team, we may not be able to execute on our business strategy.
  • Risks Related to Security and Technology
  • We are dependent on third-party software and service providers, including ads platforms and programmatic advertising partners, for management and delivery of certain advertisements on the Nextdoor platform. Any failure or interruption experienced by such third-parties could result in the inability of certain businesses to advertise on our platform, and adversely impact our business, operating results, and financial condition.
  • We rely on third-party software, cloud infrastructure, and communications service providers, including AWS, to provide systems, storage and services for our platform. Any failure or interruption experienced by such third parties could result in the inability of
  • neighbors and advertisers to access or utilize our platform, and adversely impact our business, operating results, and financial condition.
  • We rely on third parties, including email providers, mobile data networks, and identity verification service providers to complete the verification process for our neighbors’ accounts. Any failure or interruption experienced by such third parties could result in the inability of neighbors to join our platform, resulting in harm to our reputation and an adverse impact to our business, operating results, and financial condition.
  • Technologies have been developed that can block the display of advertisements on the Nextdoor platform, which could adversely impact our business, operating results, and financial condition.
  • Security breaches, including improper access to or disclosure of our data or our neighbors’ data, or other hacking and phishing attacks on our or third-party systems, could harm our reputation, adversely affect our business, and result in legal liability.
  • Distribution and marketing of, and access to, our platform depends, in significant part, on a variety of third-party publishers and platforms (including mobile app stores, third-party payment providers, computer systems, and other communication systems and service providers). If these third parties limit, prohibit or otherwise interfere with or change the terms of the distribution, use or marketing of our platform in any material way, it could materially adversely affect our business, operating results, and financial condition.
  • Our platform and internal systems rely on software and hardware that is highly technical, and any errors, bugs, or vulnerabilities in these systems, or failures to address or mitigate technical limitations in our systems, could adversely affect our business.
  • Social and ethical issues may result in reputational harm and liability.
  • Risks Related to Financial and Accounting Matters
  • Our operating results may fluctuate significantly, which makes our future results difficult to predict.
  • Certain of our market opportunities and key metric estimates could prove to be inaccurate, and have been inaccurate in the past, and any real or perceived inaccuracies may harm our reputation and negatively affect our business.
  • We have a history of net losses and may experience net losses in the future and we cannot assure you that we will achieve or sustain profitability. If we cannot achieve and sustain profitability, our business, financial condition, and operating results will be adversely affected.
  • Our ability to use our U.S. federal and state net operating losses to offset future taxable income may be subject to certain limitations which could subject our business to higher tax liability.
  • Our financial results may be adversely affected by changes in accounting principles generally accepted in the United States and our financial estimates may be different from our financial results.
  • If currency exchange rates fluctuate substantially in the future, our operating results, which are reported in U.S. dollars, could be adversely affected.
  • We may have greater than anticipated tax liabilities, which could harm our business, revenue and financial results.
  • We cannot guarantee that our Share Repurchase Program will be fully consummated or that it will enhance long-term stockholder value. Share repurchases could also increase the volatility of the trading price of our stock and diminish our cash reserves.
  • Risks Related to Legal and Regulatory Matters
  • We may be liable as a result of content or information that is published or made available on our platform.
  • Actions by governments that restrict access to the Nextdoor platform in their countries, or that otherwise impair our ability to sell advertising in their countries, could substantially harm our business, operating results, and financial condition.
  • We are currently, and in the future may be, involved in legal disputes that are expensive and time consuming, and, if resolved adversely, could harm our business, operating results, and financial condition.
  • The obligations associated with operating as a public company require significant resources and management attention and have, and will continue to, cause us to incur additional expenses, which will adversely affect our profitability.
  • Failure to maintain effective systems of internal controls and disclosure controls could have a material adverse effect on our business, operating results, and financial condition.
  • We are obligated to maintain proper and effective internal control over financial reporting. If we identify material weaknesses in the future, or otherwise fail to maintain an effective system of internal control over financial reporting in the future, we may not be able to accurately or timely report our financial condition or operating results, which may adversely affect investor confidence in our company and, as a result, the value of our Class A common stock.
  • 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 us, which could harm our brand, business, and results of operations.
  • Confidentiality agreements with employees and others may not adequately prevent disclosure of trade secrets and proprietary information.
  • Third parties may claim that our platform infringes their intellectual property rights and this may create liability for us or otherwise adversely affect our business, operating results, and financial condition.
  • Our use of “open source” software could subject us to possible litigation or could prevent us from offering products that include open source software or require us to obtain licenses on unfavorable terms.
  • We license technology from third parties for the development of our products, and our inability to maintain those licenses could harm our business.
  • Risks Related to Ownership of Our Class A Common Stock
  • The price of our Class A common stock has been and may continue to be volatile.
  • The dual class structure of our common stock may adversely affect the trading market for our Class A common stock.
  • The dual class structure of our common stock has the effect of concentrating voting power with our management and other existing stockholders, which will limit your ability to influence the outcome of important transactions, including a change in control.
  • We do not intend to pay cash dividends for the foreseeable future.
  • If analysts do not publish research about our business or if they publish inaccurate or unfavorable research, our stock price and trading volume could decline.
  • We may be subject to securities litigation, which is expensive and could divert management attention.
  • Future resales of our Class A common stock may cause the market price of our securities to drop significantly, even if our business is doing well.
  • Provisions in our charter documents and under Delaware law, including anti-takeover provisions, could make an acquisition of us, which may be beneficial to our stockholders, more difficult and may limit attempts by our stockholders to replace or remove our current management.
  • Our Certificate of Incorporation contains exclusive forum provisions for certain claims, which may limit our stockholders’ ability to obtain a favorable judicial forum for disputes with us or our directors, officers, or employees.

Legal proceedings

We are currently a party to, and may from time to time in the future, be involved in, various litigation matters and subject to claims that arise in the ordinary course of business, including claims asserted by third parties in the form of letters and other communications. For more information regarding legal proceedings and other claims in which we are involved, see Note 7 - Commitments and Contingencies, to our unaudited condensed consolidated financial statements, included in Part II, Item 8 of this Annual Report on Form 10-K, and is incorporated herein by reference.

The opening of Item 3, Legal Proceedings.5

Sources

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