Moreover, our customers that do renew their subscriptions may renew for lower subscription or usage amounts or for shorter subscription periods. If we fail to meet these contractual commitments, we could be obligated to provide credits or refunds for prepaid amounts related to unused subscription services or face contract terminations, which could adversely affect our operating results. Moreover, recent amendments to U. Because our customers rely on our solution to manage a wide range of subscription management operations, the incorrect or improper deployment or use of our solution, our failure to train customers on how to efficiently and effectively use our solution, or our failure to provide adequate support to our customers, may result in customers not renewing their subscriptions, customers reducing their use of our solution, negative publicity, or legal claims against us. In addition, the promotion of our brand requires us to make substantial expenditures, and we anticipate that the expenditures will increase as our market becomes more competitive, as we expand into new markets, and as more sales are generated through our strategic partners. For example, customers may delay making purchases of new products and services to permit them to make a more thorough evaluation of these products and services or until industry and marketplace reviews become widely available.
As a substantial portion of our sales efforts are increasingly targeted at large enterprise customers, we face greater costs, longer sales cycles, and less predictability in the completion of some of our sales. We intend to use the net proceeds that we receive from this offering for working capital and other general corporate purposes. Pro forma weighted-average shares outstanding used in calculating pro forma net loss per share, basic and diluted unaudited 2. Our main competitors fall into the following categories:. As a result, we may continue to generate losses. We also do not have control over the operations of the facilities of our data center providers or AWS.
In addition, competitors might avoid infringement by designing around our intellectual property rights or by developing non-infringing competing technologies.
We and the underwriters take no responsibility for, and can provide mcr assurance as to the reliability of, any other information that others may give you. Additionally, because we provide billing and finance solutions to help our customers with compliance and financial reporting, changes in law, regulations, and accounting standards could impact the usefulness of our products and services and could necessitate changes or modifications to our products and services to accommodate such changes.
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If this occurs, it could have a material adverse effect on our business operations and financial condition. Why buy software or hardware when you can subscribe to software-as-a-service or cloud computing services? Failure to protect our intellectual property could adversely affect our business. We will remain an emerging growth company until the earliest to occur of: The adoption of these models is still relatively new, and enterprises may not choose to shift their business model or, if they do, they may decide that they do not need a solution that offers the range of functionalities that we offer.
We may not be able to retain our current key employees or attract, train, assimilate, or retain other highly skilled personnel in the future.
The impact of one or more of the foregoing and other factors may cause our operating results to vary significantly.
Any future sales organization changes may result in a temporary reduction of productivity, which could negatively affect our rate of growth. We are required to comply with governmental export control laws and regulations. In industry after industry, new disruptors are using subscription business models to upend traditional industry dynamics.
In some cases, customers initially engage us to deploy our solution, but, for a variety casse potential reasons, including strategic decisions not to utilize subscription business models, fail to ultimately deploy our solution.
Demand for our solution is affected by a number of factors, many of which are beyond our control, including the growth or contraction of the Subscription Economy, continued market acceptance of our solution by customers for existing and new use cases, the timing of development and release of new products and services, features, and functionality introduced by our competitors, changes in accounting standards, policies, guidelines, interpretations, or principles that would impact the functionality and use of our solution, and technological change.
Additionally, while we currently offer and sell our solution in the cloud, large enterprise customers could require us to provide our solution on-premises to give them more control studdy data security and software cnr.
Because our strategic partners do not have an exclusive relationship with us, we cannot be certain that they will prioritize or provide adequate resources to marketing our solution.
If we are srudy to grow our sales channels and our relationships with strategic partners, such as GSIs, management consulting firms, and resellers, sales of our products and services may suffer and our growth could be slower than we project.
Additionally, we expect that existing stury, regulations, standards, and other zuoda may be interpreted in new and differing manners in the future, and may be inconsistent among jurisdictions. Our long-term success depends, in part, on our ability to expand the sales of our solution to customers located outside of the United States and our current, and any further, expansion of our international operations exposes us to risks that could have a material adverse effect on our business, operating results, and financial condition.
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Additionally, increasing incremental sales to our current customer base requires increasingly sophisticated and costly sales efforts that are targeted at senior management. If we fail czse meet these contractual commitments, we could be obligated to provide credits or refunds for prepaid amounts related to unused subscription services or face contract terminations, which could adversely affect our operating results.
The facilities also could be subject to break-ins, computer viruses, sfudy, intentional acts of vandalism, and other misconduct. We have a history of net losses, anticipate increasing our operating expenses in the future, and may not achieve or sustain profitability. We have generated limited revenue through these relationships to date, and we cannot assure you that these partners will be successful in marketing and selling our solution.
Future changes in market conditions or customer demand could require changes to our prices or pricing model, which could adversely affect our business, operating results, and financial condition.
As the market for our platform matures, or as new competitors introduce new products or services that compete with ours, we may be unable to attract new customers at the same price or based on the same pricing models as we have used historically. We may not carry sufficient business interruption insurance to compensate us for losses that may occur as a result of any events that cause interruptions in our service. Any failure of our products and services to operate effectively with future network platforms and technologies could reduce the demand for our products and services, result in customer dissatisfaction, and adversely affect our business.
San Mateo, California Failure to manage growth effectively could result in difficulty or delays in deploying customers, declines in quality or customer satisfaction, increases in costs, difficulties in introducing new products and services or enhancing existing products and services, loss of customers, or other operational difficulties, stury of which could adversely affect our business performance and operating results.
Any of these risks could adversely impact casf business and operating results. Table of Contents The information in this prospectus is not complete and may be changed.
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Sustained or repeated system failures would reduce the attractiveness of our solution to customers and result in contract terminations, thereby reducing revenue. We are also in the process of transitioning the hosting of zuota portion of our U. Brand promotion activities may not yield increased revenue, and even if they do, the increased revenue may not offset the expenses we incur in building and maintaining our brand and reputation.
Many of the risks associated with the use of open source software, such as the lack of warranties or assurances of title or performance, cannot be eliminated, and could, if not properly addressed, negatively affect our business.