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New words:
ACV, American, area, Bulletin, department, deploying, deployment, derecognized, detailed, dominion, DTA, eCommerce, escalation, executory, expertise, fell, Finally, flat, fourth, free, grew, harbor, implicit, inefficient, Instagram, monitor, noncash, organizational, platform, prejudgment, prejudice, prescribed, prevail, rata, reassessment, recommence, reconciliation, Reform, remediation, rent, residual, rollout, ROU, safe, showing, simplified, sporting, standalone, streaming, submitted, tenant, tested, transparency, UFC, underlying, underperforming, warehouse
Removed:
accreting, aided, assumption, attributed, bearing, building, capture, classification, data, delay, derivative, dispose, embedded, emerging, enable, estimating, exceeded, excitement, exit, financed, flow, found, framework, Google, grown, guarantee, guaranty, immaterial, impacted, inability, incorporate, Index, inherently, initially, intend, introduced, issue, Jumpstart, largely, leading, led, manufactured, mature, modification, mortgage, nontransferable, occurred, optimize, Organization, passage, past, path, pending, percent, qualify, redeemable, refinance, region, relax, remeasured, removed, repayment, replacement, returning, selection, servicing, short, simulated, simulation, sponsorship, strike, suitable, supplier, Tennessee, timing, traded, turn, uncollectible, valuable, Walmart, warrant
Financial report summary
?Competition
Enliven TherapeuticsRisks
- Our brand, including the quality of media content and active participation in the Veteran community, is core to our success, and damage to our brand or reputation and negative publicity could negatively impact our business, financial condition, and results of operations.
- Failure to maintain or enhance the value and reputation of our brand, including our support of the Veteran community, could have a negative impact on our financial results.
- Our growth strategy depends on the successful execution of our strategic initiatives, and our limited operating history may make it difficult to evaluate future risks and challenges.
- We have a limited operating history, and our past financial results may not be indicative of our future performance. Further, our revenue growth rate may slow as our business matures.
- Our marketing programs may not be successful, resulting in harm to our financial results.
- Our new products or merchandise may not generate increased sales or profits.
- The loss of one or more of our primary Wholesale partners, or a significant adverse change in a primary Wholesale partner’s financial position, could negatively impact our net sales and profitability.
- We are subject to risks associated with using social media as a primary form of advertisement and customer engagement.
- If we fail to offer a high-quality customer experience, our business and reputation will suffer.
- Our current operations are highly dependent on the financial performance of our DTC and Wholesale channels, and reliance on third party logistics, as well as other risks, could negatively impact our business.
- Our business relies on co-manufacturer and third party suppliers to supply our products, and loss of our co-manufacturer, our failure to identify new co-manufacturers, or inability to accurately forecast and contract for our co-manufacturing and raw materials needs could harm our business and impede our growth.
- We strongly rely upon our Wholesale channel partners. If we cannot maintain good relationships with customers and distributors, our Wholesale revenue channel may be harmed.
- Interruption of our supply chain of coffee, store supplies, or merchandise could affect our ability to produce or deliver our products and could negatively impact our business and profitability.
- Increases in the cost of high-quality coffee beans or other commodities or decreases in the availability of high-quality coffee beans or other commodities could have an adverse impact on our business and financial results.
- Our financial condition and results of operations are dependent upon consumer discretionary spending, and a number of economic or political conditions, largely outside our control, may adversely affect that spending and as such our results may fluctuate significantly and may not fully reflect the underlying performance of our business.
- We may not be able to compete successfully with other producers and retailers of coffee. Intense competition in our markets could make it more difficult to expand our business and could also have a negative impact on our operating results if customers favor our competitors or we are forced to change our pricing and other marketing strategies.
- Our growth strategy depends in part on opening new Outposts in existing and new markets. We may be unsuccessful in opening new Outposts or establishing new markets, which could adversely affect our growth.
- Our failure to manage our growth effectively could harm our business and operating results.
- We are increasingly dependent on information technology and our ability to process data in order to operate and sell our goods and services, and if we (or our vendors) are unable to protect against software and hardware vulnerabilities, service interruptions, data corruption, cyber-based attacks, ransomware or security breaches, or if we fail to comply with our commitments and assurances regarding the privacy and security of such data, our operations could be disrupted, our ability to provide our goods and services could be interrupted, our reputation may be harmed and we may be exposed to liability and loss of customers and business.
- If the technology-based systems that give our consumers the ability to shop or interact with us online do not function effectively, our operating results, as well as our ability to grow our digital commerce business globally or to retain our customer base, could be materially adversely affected.
- We rely significantly on information technology and data to operate our business, including our supply chain and retail operations, and any failure, inadequacy, compromise or interruption of that technology or data could lead to adverse consequences, including harm to our ability to effectively operate our business, claims that we breached our data privacy security obligations, harm to our reputation and a loss of customers or sales.
- We may not be able to adequately protect our intellectual property, including trademarks, trade names, and service marks, which, in turn, could harm the value of our brand and adversely affect our business.
- Evolving consumer preferences and tastes, including public or medical opinions about caffeine consumption, may adversely affect our business.
- Food safety and quality concerns may negatively impact our brand, business, and profitability, our internal operational controls and standards may not always be met. Any possible instances or reports, whether true or not, of food or beverage-borne illness or adulteration could reduce our sales.
- We are subject to the risks associated with leasing space subject to long-term non-cancelable lease and, with respect to the real property that we own, owning real estate.
- Our operating results and growth strategies are partly dependent upon the success of our franchise partners, and we have limited control with respect to their operations. Additionally, our franchise partners’ interests may conflict or diverge with our interests in the future, which could have a negative impact on our business.
- If we fail to maintain adequate operational and financial resources, particularly if we continue to grow rapidly, we may be unable to execute our business plan or maintain high levels of service and customer satisfaction.
- Disruptions at the bank in which we deposit our funds could have an adverse impact on our business and financial condition.
- We may be adversely affected by the effects of inflation.
- Authentic Brands’ debt obligations could impair our financial condition and adversely affect our business, and we may be unable to generate the cash flow to service such debt obligations.
- Authentic Brands’ debt agreements impose restrictions on our business.
- Our barter arrangement may not provide the benefits we expect.
- We have identified a material weakness in our internal control over financial reporting.
- We depend on our founder, executive officers, and other key employees, and the loss of one or more of these employees, the failure of one or more of these employees to dedicate adequate time to the Company’s affairs, or an inability to attract and retain other highly skilled employees could harm our business.
- Changes in the availability of and the cost of labor could harm our business.
- Our unique workplace atmosphere may produce specific challenges.
- Unionization activities may disrupt our operations and affect our profitability.
- Litigation or legal proceedings could expose us to significant liabilities and have a negative impact on our reputation or business.
- We are subject to many federal, state, and local laws with which compliance is both costly and complex.
- We may be subject to liability for placing advertisements with content that is deemed inappropriate or misleading.
- We, as well as our vendors, are subject to stringent and changing laws, regulations, and industry standards related to data Processing, protection, privacy, and security. The actual or perceived failure by us, our customers, or vendors to comply with such laws, regulations, and industry standards may harm our business, financial condition, results of operations, and prospects.
- We and our franchise partners are subject to extensive government regulations that could result in claims leading to increased costs and restrict our ability to operate franchises.
- Our business, like many other beverage and restaurant companies, is subject to the risk of class action lawsuits and other proceedings that are costly, divert management attention, and, if successful, could result in our payment of substantial damages or settlement costs.
- Changes in statutory, regulatory, accounting, and other legal requirements, including changes in accounting principles generally accepted in the United States, could potentially impact our operating and financial results.
- Legislation and regulations requiring the display and provision of nutritional information for our menu offerings, and new information or attitudes regarding diet and health or adverse opinions about the health effects of consuming our menu offerings, could affect consumer preferences and negatively impact our business, financial condition, and results of operations.
- Following the Business Combination, we have incurred significant increased expenses and administrative burdens as a public company, which could have a material adverse effect on our business, financial condition and results of operations.
- The Tax Receivable Agreement with the Unitholders of Authentic Brands requires us to make cash payments to them in respect of certain tax benefits to which we may become entitled, and we expect that the payments we will be required to make could be substantial.
- The amounts that we may be required to pay under the Tax Receivable Agreement may be accelerated in certain circumstances and may also significantly exceed the actual tax savings that it ultimately realizes.
- We are a public benefit corporation, and our focus on our public benefit company purpose may negatively impact our financial performance.
- Our status as a public benefit corporation could make our acquisition, which may be beneficial to our stockholders, more difficult.
- As a public benefit corporation, we are required to comply with various new reporting requirements, which, even if complied with, could result in harm to our reputation.
- Our only material assets are our direct and indirect interests in BRCC LLC, and we are accordingly dependent upon distributions from BRCC LLC to pay dividends and taxes and other expenses.
- Delaware law, the Charter and the Bylaws contain certain provisions, including anti- takeover provisions that limit the ability of stockholders to take certain actions and could delay or discourage takeover attempts that stockholders may consider favorable.
- The Charter designates the Court of Chancery of the State of Delaware as the sole and exclusive forum for certain types of actions and proceedings that may be initiated by our stockholders, which could limit our stockholders’ ability to obtain a favorable judicial forum for disputes with us or our directors, officers or other employees.
- Certain significant stockholders and Authentic Brands’ members whose interests may differ from those of our public stockholders following the Business Combination have the ability to significantly influence our business and management.
- We may issue additional shares of our Class A Common Stock or other equity securities without your approval, which would dilute your ownership interests and may depress the market price of your shares.
- A significant portion of our shares of Class A Common Stock are available for immediate resale by certain existing shareholders and may be sold into the market in the future. Sales of our Class A Common Stock by our existing shareholders may cause the market price of our Class A Common Stock to drop significantly, even if our business is doing well.
- We are an emerging growth company within the meaning of the Securities Act, and if we take advantage of certain exemptions from disclosure requirements available to emerging growth companies, this could make our securities less attractive to investors and may make it more difficult to compare our performance with other public companies.
- We are subject to rules and regulations regarding our internal control over financial reporting. Failure to establish and maintain effective internal controls in accordance with Section 404 of the Sarbanes-Oxley Act could have a material adverse effect on our business.
- We are a “controlled company” within the meaning of NYSE rules and, as a result, we qualify for exemptions from certain corporate governance requirements. Our stockholders do not have the same protections afforded to stockholders of companies that are subject to such requirements.
- Our management has limited experience in operating a public company.
- Because there are no current plans to pay cash dividends on our Class A Common Stock for the foreseeable future, you may not receive any return on investment unless you sell your Class A Common Stock for a price greater than that which you paid for it.
Management Discussion
- We sell our products both directly and indirectly to our customers through a broad set of physical and online platforms. Our revenue, net reflects the impact of product returns as well as discounts and fees for certain sales programs, trade spend, promotions, and loyalty rewards.
- Net revenue for the three months ended March 31, 2024 increased $14.9 million, or 18%, to $98.4 million as compared to $83.5 million for the corresponding period in 2023. The increase was primarily driven by increased points of distribution in the Wholesale channel including entry and expansion into the FDM market and increased sales of RTD product, partially offset by lower customer acquisition and volume in the DTC and Outpost channels.
- Net revenue for our Wholesale channel for the three months ended March 31, 2024, increased $20.4 million, or 51%, to $60.4 million as compared to $40.0 million for the corresponding period in 2023. The Wholesale channel performance was primarily driven by entry into the FDM market along with increased sales in our RTD product line.