Rubrik, Inc. is an American cloud data management and data security company based in Palo Alto, California, founded in January 2014. The company is listed on the New York Stock Exchange after going public in April 2024.3 It employed 2,500 people in 2022.1 Its revenue was $600 million in 2022.1 Its shares trade on NYSE under the symbol RBRK.1Wikipedia text CC BY-SA 4.0
Rubrik, Inc. is an American cloud data management and data security company based in Palo Alto, California, founded in January 2014. The company is listed on the New York Stock Exchange after going public in April 2024.3
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Revenue106$1.3B in 2026+119% since 2023Gross profit106$1.1B in 2026+152% since 2023Operating income106-$345.4M in 2026+32% since 2023Net income106-$348.8M in 2026+26% since 2023
Revenue111213$427.3M in Q2 FY2026+38% since Q2 FY2025Gross profit111213$335.1M in Q2 FY2026+36% since Q2 FY2025Operating income111213-$71.9M in Q2 FY2026−24% since Q2 FY2025Net income111213-$61.8M in Q2 FY2026−36% since Q2 FY2025
Every line of the income statement as filed: the last 3 fiscal years, latest first.6
Period ending
2026-01-31
2025-01-31
2024-01-31
Total revenue
$1.3B
$886.5M
$627.9M
Total cost of revenue
$261.9M
$265.7M
$145.0M
Gross profit
$1.1B
$620.8M
$482.9M
Research and development
$373.7M
$531.6M
$206.5M
Sales and marketing
$769.0M
$867.5M
$482.5M
General and administrative
$257.0M
$355.7M
$100.4M
Total operating expenses
$1.4B
$1.8B
$789.4M
Loss from operations
-$345.4M
-$1.1B
-$306.5M
Interest income
$52.2M
$25.4M
$11.2M
Interest expense
-$17.2M
-$41.3M
-$30.3M
Loss on debt extinguishment
-$6.7M
$0
$0
Other income (expense), net
-$9.3M
$1.5M
-$1.9M
Loss before income taxes
-$326.5M
-$1.1B
-$327.5M
Income tax expense
$22.4M
$6.4M
$26.7M
Net loss
-$348.8M
-$1.2B
-$354.2M
Net loss per share, basic (in dollars per share)
-$1.78
-$7.48
-$5.84
Net loss per share, diluted (in dollars per share)
-$1.78
-$7.48
-$5.84
Weighted-average shares used in computing net loss per share, basic (in shares)
196.5M shares
154.3M shares
60.6M shares
Weighted-average shares used in computing net loss per share, diluted (in shares)
196.5M shares
154.3M shares
60.6M shares
No quarter-by-quarter statement was filed.
Total assets106$2.8B in 2026+217% since 2024Total liabilities106$3.3B in 2026+108% since 2024Shareholders’ equity106-$519.6M in 2026−37% since 2022Cash106$380.2M in 2026+402% since 2022Long-term debt10$322.3M in 2025+12% since 2024
Total assets14121311$2.8B in Q2 FY2026+19% since Q2 FY2025Total liabilities14121311$3.3B in Q2 FY2026+13% since Q2 FY2025Shareholders’ equity111213-$499.4M in Q2 FY2026−12% since Q2 FY2025Cash14121311$416.2M in Q2 FY2026+29% since Q2 FY2025
Every line of the balance sheet as filed: the last 5 fiscal years (annual) or 5 quarters (quarterly), latest first.6
Period ending
2026-01-31
2025-01-31
2024-04-30
2024-01-31
2023-01-31
Cash and cash equivalents
$380.2M
$186.3M
Short-term investments
$1.3B
$518.8M
Accounts receivable, net of allowances of $299 and $499
$256.8M
$177.6M
Deferred commissions
$110.7M
$91.9M
Prepaid expenses and other current assets
$180.4M
$103.0M
Total current assets
$2.2B
$1.1B
Property and equipment, net
$83.8M
$53.2M
Deferred commissions, noncurrent
$157.6M
$132.5M
Goodwill
$199.6M
$100.3M
Other assets, noncurrent
$101.9M
$59.3M
Total assets
$2.8B
$1.4B
Accounts payable
$15.3M
$10.4M
Accrued expenses and other current liabilities
$230.0M
$162.6M
Deferred revenue
$1.1B
$777.1M
Total current liabilities
$1.3B
$950.2M
Deferred revenue, noncurrent
$776.5M
$642.4M
Other liabilities, noncurrent
$64.8M
$61.8M
Convertible senior notes, net
$1.1B
$0
Debt, noncurrent
$0
$322.3M
Total liabilities
$3.3B
$2.0B
Preferred stock, $0.000025 par value $20,000,000 shares authorized as of January 31, 2026 and 2025, respectively; zero shares issued and outstanding as of January 31, 2026 and 2025, respectively
$0
$0
Additional paid-in capital
$2.7B
$2.3B
Accumulated other comprehensive income (loss)
$3.7M
-$8.2M
Accumulated deficit
-$3.2B
-$2.8B
Total stockholders deficit
-$519.6M
-$553.7M
-$1.4B
-$1.1B
Total liabilities and stockholders deficit
$2.8B
$1.4B
Allowance for credit losses, current
$299.0K
$499.0K
Preferred stock, par value (in dollars per share)
$0.00
$0.00
$0.00
Preferred stock, authorized (in shares)
20.0M shares
20.0M shares
20.0M shares
Preferred stock, issued (in shares)
0 shares
0 shares
Preferred stock, outstanding (in shares)
0 shares
0 shares
Period ending
2026-01-31
2025-01-31
2024-04-30
2024-01-31
2023-01-31
Cash and cash equivalents
$380.2M
$186.3M
Short-term investments
$1.3B
$518.8M
Accounts receivable, net of allowances of $299 and $499
$256.8M
$177.6M
Deferred commissions
$110.7M
$91.9M
Prepaid expenses and other current assets
$180.4M
$103.0M
Total current assets
$2.2B
$1.1B
Property and equipment, net
$83.8M
$53.2M
Deferred commissions, noncurrent
$157.6M
$132.5M
Goodwill
$199.6M
$100.3M
Other assets, noncurrent
$101.9M
$59.3M
Total assets
$2.8B
$1.4B
Accounts payable
$15.3M
$10.4M
Accrued expenses and other current liabilities
$230.0M
$162.6M
Deferred revenue
$1.1B
$777.1M
Total current liabilities
$1.3B
$950.2M
Deferred revenue, noncurrent
$776.5M
$642.4M
Other liabilities, noncurrent
$64.8M
$61.8M
Convertible senior notes, net
$1.1B
$0
Debt, noncurrent
$0
$322.3M
Total liabilities
$3.3B
$2.0B
Preferred stock, $0.000025 par value $20,000,000 shares authorized as of January 31, 2026 and 2025, respectively; zero shares issued and outstanding as of January 31, 2026 and 2025, respectively
$0
$0
Additional paid-in capital
$2.7B
$2.3B
Accumulated other comprehensive income (loss)
$3.7M
-$8.2M
Accumulated deficit
-$3.2B
-$2.8B
Total stockholders deficit
-$519.6M
-$553.7M
-$1.4B
-$1.1B
Total liabilities and stockholders deficit
$2.8B
$1.4B
Allowance for credit losses, current
$299.0K
$499.0K
Preferred stock, par value (in dollars per share)
$0.00
$0.00
$0.00
Preferred stock, authorized (in shares)
20.0M shares
20.0M shares
20.0M shares
Preferred stock, issued (in shares)
0 shares
0 shares
Preferred stock, outstanding (in shares)
0 shares
0 shares
Cash from operations106$282.9M in 2026+1367% since 2023Capital spending106$29.6M in 2026+18% since 2023Free cash flow106$253.3M in 2026Share buybacks10$0 in 2025
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.6
Period ending
2026-01-31
2025-01-31
2024-01-31
Net loss
-$348.8M
-$1.2B
-$354.2M
Depreciation and amortization
$37.1M
$28.9M
$24.3M
Stock-based compensation
$329.4M
$913.9M
$5.7M
Amortization of deferred commissions
$110.0M
$90.3M
$76.5M
Non-cash interest
$0
$34.3M
$10.1M
Loss on debt extinguishment
$6.7M
$0
$0
Deferred income taxes
$4.0M
$1.2M
$1.9M
Other
-$3.5M
-$7.2M
-$2.8M
Accounts receivable
-$79.8M
-$44.3M
$17.2M
Deferred commissions
-$153.8M
-$128.8M
-$107.1M
Prepaid expenses and other assets
-$111.7M
-$48.8M
$2.3M
Accounts payable
$4.5M
$4.5M
-$1.0M
Accrued expenses and other liabilities
$63.2M
$45.9M
$22.9M
Deferred revenue
$425.8M
$313.2M
$299.8M
Net cash provided by (used in) operating activities
$282.9M
$48.2M
-$4.5M
Purchases of property and equipment
-$29.6M
-$16.9M
-$12.3M
Capitalized internal-use software
-$15.4M
-$9.7M
-$7.7M
Purchases of investments
-$1.5B
-$797.1M
-$246.0M
Sale of investments
$0
$33.0M
$7.5M
Maturities of investments
$708.2M
$407.3M
$255.2M
Payments for business combinations, net of cash acquired
-$21.3M
$0
-$90.3M
Net cash used in investing activities
-$830.1M
-$383.4M
-$93.6M
Proceeds from initial public offering and underwriters' exercise of over-allotment option, net of underwriting discounts and commissions
$0
$815.2M
$0
Taxes paid related to net share settlement of equity awards
-$6.3M
-$432.5M
$0
Proceeds from exercise of stock options
$4.1M
$8.5M
$3.4M
Proceeds from issuance of common stock under employee stock purchase plan
$29.0M
$11.1M
$0
Payments for deferred offering costs, net
$0
-$3.5M
-$3.7M
Proceeds from issuance of debt, net of discount
$0
$0
$96.5M
Proceeds from issuance of convertible senior notes, net of discount
$1.1B
$0
$0
Repayment of debt and related costs
-$329.6M
$0
$0
Payments for debt issuance and discount costs
-$1.9M
-$708.0K
-$225.0K
Purchase of capped calls related to convertible senior notes
-$88.5M
$0
$0
Net cash provided by financing activities
$736.5M
$398.0M
$95.9M
Effect of exchange rate on cash, cash equivalents, and restricted cash
$9.8M
-$6.3M
-$1.4M
Net increase (decrease) in cash, cash equivalents, and restricted cash
$199.1M
$56.5M
-$3.5M
Cash paid for income taxes, net of refunds
$12.0M
$11.9M
$5.1M
Cash paid for interest
$11.8M
$15.0M
$9.5M
Transfers of inventory to property and equipment
$0
$102.0K
$626.0K
Property and equipment received, included in payables and accrued but not paid
$2.5M
$816.0K
$2.2M
Stock-based compensation capitalized in internal-use software
$8.8M
$5.2M
$0
Deferred offering costs accrued but not paid
$0
$0
$953.0K
Fair value of common stock issued as consideration for business combination
$93.8M
$0
$14.1M
Acquisition holdback accrued not paid in accrued expenses and other current liabilities
$752.0K
$0
$0
Leasehold improvements funded directly by lessor included in property and equipment, net
Rubrik sits at the top of its group. 4 entities, 4 countries on record. Switch between the flow chart and the network, and select any entity to see its details.
Khosla Ventures V, L.P.Filed SCHEDULE 13G/A on Rubrik, latest Feb 14, 2025 (2 filings since Nov 14, 2024)
NORGES BANKFiled SCHEDULE 13G/A on Rubrik, latest Feb 12, 2025 (2 filings since Oct 15, 2024)
RubrikPalo Alto, California, United States
RUBRIK INDIA PRIVATE LIMITED Subsidiary · Bangalore, India
Rubrik The Netherlands B.V. Subsidiary · Netherlands
Rubrik UK Limited Subsidiary · United Kingdom
Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); 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 Rubrik 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.
We are headquartered in Palo Alto, California, where we lease approximately 81,031 square feet pursuant to a lease which expires in 2027. We currently lease other office space throughout the United States and globally, including Austin, Texas; Morrisville, North Carolina; Reston, Virginia; Bangalore, India; Cork, Ireland; Amsterdam, Netherlands; Tel Aviv, Israel; and Sydney, Australia. We do not own any real property. We believe that our facilities are adequate to meet our current needs.
The company was founded in January 2014 by Bipul Sinha, Arvind Jain, Soham Mazumdar, and Arvind Nithrakashyap.
Institutional Venture Partners (IVP) led a US$180 million Series D funding round in May 2017, at a US$1.3 billion valuation, bringing the company to at least US$292 million raised to date.
In early 2018, Rubrik purchased Datos.io, another cloud data management company.
In January 2019, the startup has raised $261 million, which helped it to reach $3.3 billion total valuation. The core investors were Bain Capital Ventures together with Lightspeed Venture Partners, Greylock Partners, Khosla Ventures and IVP.
In December 2020, the company purchased the assets and intellectual property of Igneous, a Seattle-based company that had recently gone through a mass layoff. Until shortly before the acquisition, Igneous was led by co-founder Kiran Bhageshpur.
In August 2023, it was announced Rubrik had acquired the Israel-headquartered cloud data security company, Laminar Security for 200 million dollars,
On April 25, 2024, Rubrik began trading on the New York Stock Exchange under the ticker symbol RBRK. The company had priced its initial public offering at $32 per share, above its initial target range, raising $752 million at a $5.6 billion valuation. Shares rose 16% on the first day of trading.
The company calls itself a "Zero Trust Data Security." It provides data management services such as the backup and recovery, targeting enterprises that run hybrid cloud environments. Its software can be run on-premises and in the cloud to protect and manage data.
Third-party sources have cited the rise of ransomware and other corporate threats as increasing the total market demand for off-site backup solutions.
In March 2018, Dell EMC sued two former employees that currently work for Rubrik, alleging that the employees downloaded Dell EMC trade secrets, solicited former Dell EMC customers, and provided unfair competitive advantages to Rubrik.
Mar 13, 2025Reported quarterly or annual results38
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
428 filings to the SEC since October 2021: 2 annual reports, 8 quarterly reports, 15 major events, 240 insider forms, 28 large holders, 135 other. The latest 20:
177 open-market trades by officers, directors and large owners since October 2021: 1 buys and 176 sales. Grants, option exercises and gifts are left out.
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.
Year
Executive
Age
Salary
Total pay
2026
Brian McCarthyPresident, Global Sales and Field Operations
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.
From the cover page of the 10-K filed Mar 19, 2026 (Section 12(b) of the Exchange Act).15
Risk factors and legal proceedings
The risks Rubrik names in Item 1A of its 10-K filed Mar 19, 2026: 74 risks under these headings, as written.15
Risks Related to Our Business
Our recent rapid growth may not be indicative of our future growth. Our rapid growth also makes it difficult to evaluate our future prospects.
If the market for data security and AI solutions does not grow, our ability to grow our business and our results of operations may be adversely affected.
We have a limited operating history, particularly with respect to our offerings of RSC and RAC, which makes it difficult to forecast our future results of operations.
If we are unable to attract new customers, our future results of operations could be harmed.
We have a history of operating losses and may not achieve or sustain profitability in the future.
If our customers do not renew their subscriptions for our platform and products or expand their subscriptions to increase the amount of data secured, secure new applications, or include new features or capabilities, our results of operations could be harmed.
If our solutions fail or do not perform as intended or are perceived to have defects, errors, or vulnerabilities, our brand and reputation will be harmed, which would adversely affect our business and results of operations.
The limited number of contract manufacturers and original equipment manufacturers that produce commodity servers that are compatible with our solutions are susceptible to supply chain disruptions and have recently experienced shortages of key components for their servers, which may adversely affect our ability to accurately forecast demand for these commodity servers or successfully manage the relationship with such manufacturers, and could negatively impact demand for our offerings, and adversely affect our business and financial results.
Our use of generative and other AI tools may pose risks to business and operations, including our proprietary software and systems, and may subject us to legal liability.
Changes in our revenue mix may cause fluctuations in revenue recognized from period to period, which could make period-to-period revenue comparisons not meaningful and difficult to predict.
We rely upon third-party cloud providers to host our solutions, and any disruption of, or interference with, our use of third-party cloud products would adversely affect our business, financial condition, and results of operations.
The other 63 risks
We may not be able to successfully manage our growth, and if we are not able to grow efficiently, our business, financial condition, and results of operations could be harmed.
The markets in which we participate are competitive, and if we do not compete effectively, our business, financial condition, and results of operations could be harmed.
Our estimates of market opportunity, forecasts of market growth, and potential return on investment may prove to be inaccurate, and even if the market in which we compete achieves the forecasted growth, our business could fail to grow at similar rates, if at all.
If customers have not utilized their Subscription Credits before they expire, this could result in customer dissatisfaction and our future results of operations could be harmed.
We rely on the performance of highly skilled personnel, including senior management and engineering, services, sales, and technology professionals. If we are unable to retain or motivate key personnel or hire, retain, and motivate qualified personnel, our business will be harmed.
We derive substantially all of our revenue from our data security platform. Failure of our platform to satisfy customer demands or achieve continued market acceptance over competitors would harm our business, financial condition, results of operations, and growth prospects.
We expect fluctuations in our financial results, making it difficult to project future results, and if we fail to meet the expectations of securities analysts or investors with respect to our results of operations, our stock price and the value of your investment could decline.
Our ability to introduce new data security products and features is dependent on adequate research and development resources and our ability to successfully complete acquisitions. If we do not adequately fund our research and development efforts or complete acquisitions successfully, we may not be able to compete effectively, and our business and results of operations may be harmed.
We depend and rely on SaaS technologies from third parties to operate our business, and interruptions or performance problems with these technologies may adversely affect our business and results of operations.
If we are unable to maintain successful relationships with our Channel Partners and technology alliance partners, or if our Channel Partners or technology alliance partners fail to perform, our ability to market, sell, and distribute our solutions will be limited, and our business, financial condition, and results of operations will be harmed.
If we do not effectively expand and train our sales force, we may be unable to add new customers or retain and increase sales to our existing customers, and our business will be adversely affected.
Our sales cycles can be long and unpredictable, and our sales efforts require considerable time and expense.
If we fail to adapt and respond effectively to rapidly changing technology, including technologies related to AI, evolving industry standards, changing regulations, or to changing customer needs, requirements, or preferences, our solutions may become less competitive.
The competitive position of our solutions depends in part on their ability to operate with third-party products and services, including those of our technology alliance partners, and if we are not successful in maintaining and expanding the compatibility of our solutions with such products and services, our business may be harmed.
Incorrect or improper implementation or use of our solutions could result in customer dissatisfaction and harm our business, financial condition, and results of operations.
We use third-party open-source components in our solutions, which could negatively affect our ability to sell our solutions or subject us to litigation or other actions.
Our success depends, in part, on the integrity and scalability of our systems and infrastructures. System interruption or delays from third-party data center hosting facilities and the lack of integration, redundancy, and scalability in our systems and infrastructures could impair the delivery of our solutions and harm our business.
We rely on software and data licensed from other parties. Defects in or the loss of software or access to data from third parties could increase our costs and harm the quality of our solutions.
We are subject to governmental export and import controls and economic sanctions laws and regulations that could impair our ability to compete in international markets or subject us to liability and reputational harm if we violate the controls.
We are subject to anti-corruption, anti-bribery, and similar laws, and non-compliance with such laws can subject us to criminal or civil liability and harm our business, financial condition, and results of operations.
Downturns or upturns in our sales may not be immediately reflected in our financial condition and results of operations.
Seasonality may cause fluctuations in our revenue and related metrics.
Our subscription annual recurring revenue ("Subscription ARR"), cloud annual recurring revenue ("Cloud ARR"), and certain other operational data are operating metrics that are subject to assumptions and limitations, including that the factors that impact Subscription ARR will vary from those that impact subscription revenue. As such, these metrics may not provide an accurate indication of our actual performance or our future results.
We will face risks associated with the growth of our business with certain heavily regulated industry verticals.
Sales to government entities are subject to a number of challenges and risks.
Acquisitions, strategic investments, joint ventures, or alliances could be difficult to identify, pose integration challenges, divert the attention of management, disrupt our business and culture, dilute stockholder value, and adversely affect our business, financial condition, and results of operations.
Any inability to maintain a high-quality customer support organization could lead to a lack of customer satisfaction, which could hurt our customer relationships and have an adverse effect on our business, financial condition, and results of operations.
Failure to effectively develop and expand our sales and marketing capabilities or improve the productivity of our sales and marketing organization could harm our ability to expand our potential customer and sales pipeline, increase our customer base, and achieve broader market acceptance of our solutions.
If we fail to enhance our brand cost-effectively, our ability to expand our customer base will be impaired and our business, financial condition, and results of operations may be adversely affected.
We have a limited history with pricing models for our solutions, and we may need to adjust the pricing terms of our data security solutions, which could have an adverse effect on our revenue and results of operations.
We may require additional capital to support the growth of our business, and this capital might not be available on acceptable terms, if at all.
Servicing our debt may require a significant amount of cash. We may not have sufficient cash flow from our business to pay our indebtedness.
We may not have enough available cash or the ability to raise the funds necessary to pay cash upon conversion of the Notes or to repurchase the Notes upon a fundamental change.
We are exposed to fluctuations in currency exchange rates, which could negatively affect our results of operations.
Unfavorable conditions in our industry or the global economy, including those caused by the ongoing conflicts around the world, or reductions in technology spending, could limit our ability to grow our business and negatively affect our results of operations.
We typically provide service-level commitments under our customer agreements. If we fail to meet these commitments, we could face customer terminations, a reduction in renewals, and damage to our reputation, which would lower our revenue and harm our business, financial condition, and results of operations.
Sales to enterprise customers involve risks that may not be present or that are present to a lesser extent with respect to sales to smaller organizations.
Our intellectual property rights may not adequately protect our business.
If we are not successful in expanding our operations and customer base internationally, our business and results of operations could be negatively affected.
As a result of being a public company, we are obligated to develop and maintain proper and effective internal controls over financial reporting, and any failure to maintain the adequacy of these internal controls may adversely affect investor confidence in our company and, as a result, the value of our Class A common stock.
We may become subject to intellectual property disputes, which can be costly and may subject us to significant liability and increased costs of doing business.
We and our employees have and may continue to be subject to claims alleging violations of our employees’ contractual obligations to their prior employers. These claims may be costly to defend, and if we do not successfully do so, our business could be harmed.
Our company values have contributed to our success. If we cannot maintain these values as we grow, we could lose certain benefits we derive from them, and our employee turnover could increase, which could harm our business.
We are subject to risks inherent in international operations that can harm our business, financial condition, and results of operations.
Changes in tax laws or regulations could harm our financial condition and results of operations.
We could be required to collect additional sales or other indirect taxes or be subject to other tax liabilities in various jurisdictions that may adversely affect our results of operations.
Our ability to use our net operating losses to offset future taxable income may be subject to certain limitations.
We may be subject to additional tax liabilities, which could adversely affect our results of operations.
If our estimates or judgments relating to our critical accounting policies prove to be incorrect, our results of operations could be adversely affected.
Our leverage could adversely affect our financial condition, our ability to raise additional capital to fund our operations, our ability to operate our business, and our ability to react to changes in the economy or our industry, as well as divert our cash flow from operations for debt payments and prevent us from meeting our debt obligations.
Risks Related to Ownership of Our Common Stock
The dual class structure of our common stock has the effect of concentrating voting control with the holders of our Class B common stock, including our executive officers, employees, and directors and their affiliates, and limiting your ability to influence corporate matters, which could adversely affect the trading price of our Class A common stock.
Our stock price may be volatile, and the value of our Class A common stock may decline.
Future sales of our Class A common stock in the public market could cause the market price of our Class A common stock to decline.
The capped call transactions may affect the market price of the Notes and our Class A common stock.
We are subject to counterparty risk with respect to the capped call transactions.
Our issuance of additional capital stock in connection with financings, acquisitions, investments, our equity incentive plans, or otherwise, or the conversion or exercise of certain of our securities will dilute all other stockholders.
We do not intend to pay dividends for the foreseeable future and, as a result, your ability to achieve a return on your investment will depend on appreciation in the price of our Class A common stock.
We incur significant costs as a result of operating as a public company, and our management is required to devote substantial time to compliance with our public company responsibilities and corporate governance practices.
Anti-takeover provisions in our charter documents, the Indenture, and under Delaware law could make an acquisition of our company more difficult, limit attempts by our stockholders to replace or remove our current management, and limit the market price of our Class A common stock.
Our amended and restated certificate of incorporation designates the Court of Chancery of the State of Delaware and the federal district courts of the United States of America as the exclusive forums for certain disputes between us and our stockholders, which restricts our stockholders’ ability to choose the judicial forum for disputes with us or our directors, officers, or employees.
If securities or industry analysts do not publish research or publish unfavorable or inaccurate research about our business, the market price and trading volume of our Class A common stock could decline.
General Risk Factors
Any future litigation against us could be costly and time-consuming to defend.
Our business could be disrupted by catastrophic events.
Legal proceedings
From time to time, we are involved in various legal proceedings arising from activities in the normal course of business. We are not presently a party to any litigation the outcome of which, we believe, if determined adversely to us, would individually or taken together have a material adverse effect on our business, financial condition, results of operations, and cash flows. Defending any legal proceedings is costly and can impose a significant burden on management and employees. The results of any current or future litigation cannot be predicted with certainty, and regardless of the outcome, litigation can have an adverse impact on us because of defense and settlement costs, diversion of management resources, and other factors.
