Added10-Q 2026-11-04 vs 10-K 2026-02-18
The following is a summary of the principal risks associated with an investment in our Class A common stock:
Risk factors in the latest filings
3 new paragraphs in the 10-K, 0 new in the latest 10-Q
New in the 10-K
Paragraphs with nothing like them in last year's 10-K
3 paragraphs in Risk Factors of the 10-K filed Feb 18, 2026 with nothing like them in the 10-K filed Feb 20, 2025. Quoted exactly. Paragraphs that were only edited are under 10-K change.
Compared with the Risk Factors in the latest 10-K of the other 74 Technology companies: a paragraph with at least half its words the same at another company is called similar, and the companies are listed under it. A paragraph most of them have is marked boilerplate. No line means no other company has one like it. This counts text; it does not say how serious a risk is.
•the effects of trade policies, such as trade wars, tariffs or other trade restrictions or the threat of such actions;
Read in the 10-K ↗
Certain jurisdictions impose regulatory obligations focused on cybersecurity resilience, system availability, and incident response. For example, in the European Union, the Network and Information Security Directive (EU) 2022/2555 (“NIS2”), and in the United Kingdom, the Network and Information Systems Regulations 2018, establish requirements related to risk management, security incident reporting, and business continuity for certain entities. Failure to comply with these frameworks may result in significant administrative fines, enforcement actions, and operational restrictions.
Read in the 10-K ↗
•potential changes in trade relations, sanctions, regulations, or laws including changes in trade policies, such as trade wars, tariffs or other trade restrictions or the threat of such actions;
Read in the 10-K ↗
New in the latest 10-Q
Paragraphs in the 10-Q filed Nov 4, 2026 that were not in the one before
0 paragraphs in the 10-Q filed Nov 4, 2026 with nothing like them in the 10-Q filed Aug 6, 2026 (at least half the words must differ; new numbers alone do not count). Quoted exactly, grouped by the item heading above them. This is text that changed, not a judgement of how serious it is.
Nothing in the latest 10-Q is new compared with the one before it.
10-Q against the 10-K
The 10-Q's risk factors against the 10-K
Item 1A of the 10-Q filed Nov 4, 2026 against Item 1A of the 10-K filed Feb 18, 2026.
A 10-Q repeats only the risks that changed, so a 10-K paragraph that is missing from it is not counted as removed.
Added is a paragraph with nothing like it in the 10-K, Reworded a sentence that is in both with several words changed,
Quiet changes a sentence in both where one to four words changed and one is a hedge or a modal
(cut words struck through, new words highlighted and underlined).
Text on the page, not a score; each links to the filing at sec.gov.
Added10-Q 2026-11-04 vs 10-K 2026-02-18
uncertainties and our future revenue growth are incorrect or change, or if we do not address these risks successfully, our operating and financial results could differ materially from our expectations, and our business could suffer.
Added10-Q 2026-11-04 vs 10-K 2026-02-18
of or disruption to our platform, systems and networks or the systems and networks of third parties that support us and our services. Despite the security controls we have in place, such attacks are very difficult to avoid.
Added10-Q 2026-11-04 vs 10-K 2026-02-18
We may have contractual and other legal obligations, or we may voluntarily choose, to notify relevant stakeholders of security incidents. For instance, most jurisdictions have enacted laws, such as the U.S. Health Insurance Portability and Accountability Act of 1996, or HIPAA, requiring companies to notify individuals, regulatory authorities, and others of security
Added10-Q 2026-11-04 vs 10-K 2026-02-18
Additionally, European legislative proposals and present laws and regulations apply to cookies and similar tracking technologies, electronic communications, and marketing. In the EU and the United Kingdom, regulators are increasingly
Show the other 15
Added10-Q 2026-11-04 vs 10-K 2026-02-18
particularly in certain industries and foreign countries. If we are not able to adjust to these changing laws, regulations, and contractual obligations, our business may be harmed.
Added10-Q 2026-11-04 vs 10-K 2026-02-18
Europe and elsewhere may lead to significant compliance costs, may heighten scrutiny of our ESG practices and may require us to change our current practices.
Added10-Q 2026-11-04 vs 10-K 2026-02-18
on the capital markets and our financial condition at such time. We may not be able to engage in any of these activities or engage in these activities on desirable terms, which could result in a default on our debt obligations.
Reworded10-Q 2026-11-04 vs 10-K 2026-02-18
Our amended and restated certificate articles of incorporation provides that the Eighth Judicial District Court of Chancery of the State of Delaware Nevada in Clark County, Nevada is the exclusive forum for the following types of actions or proceedings under Delaware Nevada statutory or common law: law, unless the Company consents in writing to the selection of an alternative forum: any derivative action or proceeding brought on our behalf; any action asserting a breach of a fiduciary duty; any action asserting a claim against us arising pursuant to the Delaware General Corporation Law, Nevada Revised Statutes ("NRS"), our amended and restated certificate articles of incorporation, or our amended and restated bylaws; or any action asserting a claim against us that is governed by the internal affairs doctrine.
Reworded10-Q 2026-11-04 vs 10-K 2026-02-18
For example, if we elect to settle our conversion obligation under our 0.00% Convertible Senior Notes due 2029, or the 2029 Notes, in shares of our Class A common stock or a combination of cash and shares of our Class A common stock, the issuance of such Class A common stock may dilute the ownership interests of our stockholders and sales in the public market could adversely affect prevailing market prices.
Reworded10-Q 2026-11-04 vs 10-K 2026-02-18
Similarly, supply chain attacks have increased in frequency and severity, and we cannot guarantee that third parties and infrastructure in our supply chain have not been compromised or that they do not contain exploitable defects or bugs that could result in a breach of or disruption to our platform, systems and networks or the systems and networks of third parties that support us and our services.
Reworded10-Q 2026-11-04 vs 10-K 2026-02-18
For a discussion of certain of these economic, political, regulatory, and market risks, see “Risks Associated with our Growth—Unfavorable Growth - Unfavorable conditions in our industry or the global economy, or reductions in information technology spending, could limit our ability to grow our business and negatively affect our results of operations”.
Reworded10-Q 2026-11-04 vs 10-K 2026-02-18
Some of our actual and potential competitors have been acquired by other larger enterprises and have made or may make acquisitions or may enter into partnerships or other strategic relationships that may provide more comprehensive offerings than they individually had offered or achieve greater economies of scale than us.
Reworded10-Q 2026-11-04 vs 10-K 2026-02-18
Our amended and restated certificate articles of incorporation designates the Eighth Judicial Court of Chancery of the State of Delaware Nevada in Clark County, Nevada and the federal district courts of the United States of America as the exclusive forums for substantially all disputes between us and our stockholders, which could restrict our stockholders’ ability to choose the judicial forum for disputes with us or our directors, officers, or employees.
Reworded10-Q 2026-11-04 vs 10-K 2026-02-18
Revenue, as determined based on the billing address of our customers, from regions outside of North America was 27% and 29% for the year nine months ended December 31, 2025. September 30, 2026 and 2025, respectively.
Reworded10-Q 2026-11-04 vs 10-K 2026-02-18
In particular, we may encounter difficulties assimilating or integrating the businesses, technologies, products and platform capabilities, personnel, internal controls or operations of any acquired companies, particularly if the key personnel of an acquired company choose not to work for us, their software is not easily adapted to work with our platform, or we have difficulty retaining the customers of any acquired business due to changes in ownership, management or otherwise.
Reworded10-Q 2026-11-04 vs 10-K 2026-02-18
Our ability to refinance our indebtedness will depend on the capital markets and our financial condition at such time.
Reworded10-Q 2026-11-04 vs 10-K 2026-02-18
Actual or perceived failure by us or the third-parties with whom we work our third-party service providers to comply with such laws, regulations, standards, or contractual obligations could harm our business.
Reworded10-Q 2026-11-04 vs 10-K 2026-02-18
As of December 31, 2025, September 30, 2026, approximately 44% 46% of our full-time employees were located outside of the United States, 34% 33% of whom were located in France.
Reworded10-Q 2026-11-04 vs 10-K 2026-02-18
There also may be pending patent applications of which we are not aware that may result in issued patents, which could be alleged to be infringed by our current or future technologies or products.
The first 20 of 29 are shown (at most 12 of each type).