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absent, advisor, advisory, al, allegedly, analyst, assumption, Bidco, billion, Buyer, captioned, Citigroup, Codification, contemplated, customary, Eastern, entertainment, expenditure, half, Hutchinson, incomplete, Magnesium, Mendoza, misleading, omitted, outlook, output, pendency, Permira, proxy, purportedly, Registrar, rescission, Royal, schedule, Smith, solicit, Southern, suspended, thereof, timeframe, Whitfield
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Financial report summary
?Competition
Microsoft • EMC • Gen Digital • Zix • Cisco Systems • Akamai • Proofpoint • Data Storage • KnowBe4 • ZscalerRisks
- Data security and integrity are critically important to our business, and breaches of our information and technology networks and unauthorized access to a customer’s data, including our recent security incident, could harm our business and operating results.
- The global COVID-19 pandemic, including the related containment efforts, has had, and will likely continue to have, certain negative impacts on our business and operations, and we are unable to predict with certainty the extent to which it may continue to adversely affect our business, results of operations and financial condition.
- If we are unable to attract new customers and retain existing customers, our business and results of operations will be affected adversely.
- If we are unable to sell additional services, features and products to our existing customers, our future revenue and operating results will be harmed.
- Our business depends substantially on customers renewing their subscriptions with us and a decline in our customer renewals would harm our future operating results.
- The markets in which we participate are highly competitive, with several large established competitors, and our failure to compete successfully would make it difficult for us to add and retain customers and would reduce or impede the growth of our business.
- If we are unable to effectively increase sales of our services to large enterprises while mitigating the risks associated with serving such customers, our business, financial position and results of operations may suffer.
- Failure to effectively expand our sales and marketing capabilities could harm our ability to acquire new customers and achieve broader market acceptance of our services.
- Our business and results of operations may be negatively impacted by the United Kingdom’s withdrawal from the European Union.
- If we are unable to maintain successful relationships with our channel partners, our ability to acquire new customers could be adversely affected.
- Any serious disruptions in our services caused by defects in our software or otherwise may cause us to lose revenue and market acceptance.
- We have acquired, and may acquire in the future, other businesses, products or technologies, which could require significant management attention, disrupt our business, dilute shareholder value and adversely affect our results of operations.
- If we are not able to provide successful updates, enhancements and features to our technology to, among other things, keep up with emerging cyber threats and customer needs, our business could be adversely affected.
- We are subject to a number of risks associated with global sales and operations.
- If the prices we charge for our services are unacceptable to our customers, our operating results will be harmed.
- Our research and development efforts may not produce new services or enhancements to existing services that result in significant revenue or other benefits in the near future, if at all.
- We employ third-party licensed software for use in or with our services, and the inability to maintain these licenses or errors or vulnerabilities in the software we license could result in increased costs, reduced service levels, or security risk, which would adversely affect our business.
- Data privacy concerns, evolving regulations of cloud computing, cross-border data transfer restrictions and other domestic or foreign laws and regulations may limit the use and adoption of, or require modifications to, our products and services, which could limit our ability to attract new customers or support existing customers thus reducing our revenue, harming our operating results and adversely affecting our business.
- We are subject to governmental export controls and funds dealings restrictions that could impair our ability to compete in certain international markets and subject us to liability if we are not in full compliance with applicable laws.
- We are dependent on the continued services and performance of our key employees, including our co-founder, the loss of whom could adversely affect our business.
- We depend on highly skilled personnel to grow and operate our business, and if we are unable to hire, retain and motivate qualified personnel, our business may be adversely impacted.
- We are currently being sued, have been sued in the past, and may in the future be sued by third parties for alleged infringement of their proprietary rights.
- Any failure to protect our intellectual property rights could impair our ability to protect our proprietary technology and our brand.
- Confidentiality arrangements with employees and others may not adequately prevent disclosure of trade secrets and other proprietary information.
- The use of open source software in our offerings may expose us to additional risks, including security risks, and harm our intellectual property.
- Because we recognize revenue from subscriptions for our services over the term of the agreement, downturns or upturns in new business may not be immediately reflected in our operating results and may be difficult to discern.
- We have incurred net losses in the past, and we may not be able to sustain profitability for the foreseeable future.
- Fluctuations in currency exchange rates could adversely affect our business.
- If we need to raise additional capital to expand our operations and invest in new technologies in the future and cannot raise it on acceptable terms or at all, our ability to compete successfully may be harmed.
- We must 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 ordinary shares.
- We are a multinational organization faced with increasingly complex tax issues in many jurisdictions, and we could be obligated to pay additional taxes in various jurisdictions.
- A change in our tax residence could have a negative effect on our future profitability.
- Taxing authorities could reallocate our taxable income among our subsidiaries, which could increase our consolidated tax liability.
- U.S. holders of our ordinary shares could be subject to material adverse tax consequences if we are considered a Passive Foreign Investment Company, or PFIC, for U.S. federal income tax purposes.
- Our share price has been and may continue to be volatile.
- If securities or industry analysts cease to publish research or publish inaccurate or unfavorable research about our business, our share price and trading volume could decline.
- We do not expect to pay dividends and investors should not buy our ordinary shares expecting to receive dividends.
- U.S. shareholders may not be able to enforce civil liabilities against us.
- The rights afforded to shareholders are governed by Jersey law. Not all rights available to shareholders under English law or U.S. law will be available to shareholders.
Management Discussion
- Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations.
- We are a leading global provider of next generation cloud security and risk management services for email and corporate information. Our integrated suite of proprietary cloud services protects customers of all sizes from the significant business and data security risks they are exposed to through their email and other corporate systems. Our Email Security 3.0 and Cyber Resilience Extension offerings are designed to protect customers from today’s rapidly changing security environment.
- We developed our proprietary cloud architecture to offer customers a comprehensive cyber resilience strategy. Our Email Security 3.0 strategy addresses threats in three distinct zones: at the email perimeter (Zone 1); inside the network and the organization (Zone 2); and beyond the perimeter (Zone 3). Additionally, our Cyber Resilience Extensions expand resilience to other critical elements of an organization’s digital infrastructure. Our primary offerings include: email security; email continuity and sync & recover; email archiving; awareness training; web security; DMARC analyzer; brand exploit protection; and threat intelligence and our API ecosystem.