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Item 1A. Risk Factors.
In addition to other information set forth in this report, readers should carefully consider the factors discussed in Part I, Item 1A. "Risk Factors" of our Annual Report on Form 10-K for the year ended December 31, 2024, as updated and supplemented in our Quarterly Report on Form 10-Q for the quarter ended March 31, 2025. Any of the risk factors disclosed in our reports could materially affect our business, financial condition or future results. The risks described in our 2024 Annual Report on Form 10-K, as updated and supplemented in our Quarterly Report on Form 10-Q for the quarter ended March 31, 2025, are not the only risks we face. Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial also may materially and adversely affect our business, financial condition and/or operating results.
Except as set The discussion of the risk factor below updates the corresponding disclosure under the same heading in the Form 10-Q forth in o the quarter ended March 31, 2025 and the 2024 Form 10-K.
Our Quarterly Report on Form 10-Q for tshare repurchase program could affect the price of our common stock and increase volatility and could be suspended or terminated at any time, which could result in a decrease in the trading price of our common stock.
Our Board of Directors recently approved a share repurchase program (the "Share Repurchase Program") of up to $15.0 million of our common stock. Under the quarter ended March 31, 2025, Share Repurchase Program, we may repurchase shares through open market transactions, through privately negotiated transactions, or pursuant to a trading plan separately adopted in the future, subject to the requirements of the Securities Exchange Act of 1934, as amended. Our share repurchases could affect our share trading prices, increase there have beeir volatility, reduce our cash reserves, reduce our stock's public float, and may be suspended or terminated at any time, which may result in a decrease in the trading prices of our stock. Our Board of Directors may amend or suspend the Share Repurchase Program at any time in its discretion. We can provide no assurances that we will repurchase shares of our common stock within the authorized amount or at all.
Except for the above, there have been no other material changes to the Risk Factors previously disclosed in the Form 10-Q for the quarter ended March 31, 2025 and the 2024 Form 10-K, which areis incorporated herein by reference.