I think it's a great company but their risk factors section in their filing is fairly alarming:
- We have a history of losses and we expect our revenue growth rate to decline. As our costs increase, we may not be able to generate sufficient revenue to achieve and sustain profitability.
- These investments may not result in increased revenue or growth of our business. We also expect that our revenue growth rate will decline over time. Accordingly, we may not be able to generate sufficient revenue to offset our expected cost increases and to achieve and sustain profitability. If we fail to achieve and sustain profitability, our operating results and business would be harmed.
Yes and no. In theory, the SEC's rules[1] require that the risk factors be things that are unique to the company (i.e. not risks that apply to stock offerings generally). The factors you mention are common among new companies but wouldn't be included for more mature companies.
Sometimes these factors are helpful. Sometimes they seem to represent the product of a particularly imaginative lawyer or accountant. RSA once had a risk factor stating that if an efficient means of factoring primes were developed their business might suffer.[2]
- We have a history of losses and we expect our revenue growth rate to decline. As our costs increase, we may not be able to generate sufficient revenue to achieve and sustain profitability.
- These investments may not result in increased revenue or growth of our business. We also expect that our revenue growth rate will decline over time. Accordingly, we may not be able to generate sufficient revenue to offset our expected cost increases and to achieve and sustain profitability. If we fail to achieve and sustain profitability, our operating results and business would be harmed.