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Precia Molen — Annual Report (ESEF) 2022
May 4, 2022
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ITEM 1. BUSINESS
The foregoing contains forward-looking statements. We undertake no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.
The Company is a leading global provider of integrated solutions for the information technology, telecommunications and electronics industries. The Company's services encompass the design, manufacture and sale of network infrastructure equipment, enterprise and carrier-class networking products, software and services, as well as the design and manufacture of microprocessors and other semiconductor-based components. The Company also provides a broad range of services, including the design, installation, maintenance and management of communications networks, as well as data storage, security, consulting and outsourcing services. The Company's primary markets include enterprise networks, carrier networks, and government and defense networks. The Company's strategy is to provide its customers with innovative products and services that enhance their information technology and communications capabilities, improve their operational efficiency and reduce their costs.
The Company operates in a highly competitive industry. Competition is based on a variety of factors, including product performance, price, technological innovation, customer service and support, and channel access. The Company competes with a number of companies, some of which have greater financial resources and larger market shares than the Company. The Company believes that its ability to innovate and provide superior customer service will enable it to compete effectively.
The Company's products are sold through a variety of channels, including direct sales, resellers, distributors and original equipment manufacturers. The Company's sales force is organized by product line and industry segment to provide specialized support to its customers.
The Company has a global presence, with operations in North America, Europe, Asia and Latin America. The Company's international operations are managed by regional subsidiaries that are responsible for sales, marketing, service and support in their respective territories.
The Company's financial results are subject to a variety of factors, including general economic conditions, industry trends, technological changes, regulatory changes, and competitive pressures. The Company continuously monitors these factors and takes steps to mitigate any adverse impact on its financial results.
The Company's intellectual property portfolio is a key asset. The Company has a significant number of patents and patent applications in the United States and foreign countries. The Company also has a number of trademarks and trade secrets. The Company believes that its intellectual property rights are adequately protected.
The Company is committed to research and development. The Company invests a significant amount of resources in R&D to develop new products and technologies. The Company's R&D efforts are focused on areas such as networking, semiconductors, software and wireless communications.
The Company's customer base is diverse and includes many of the world's leading companies in various industries. The Company's customers include telecommunications carriers, internet service providers, cable companies, financial institutions, government agencies, educational institutions and commercial enterprises.
The Company's supply chain is global and complex, involving a variety of suppliers and manufacturers. The Company has established relationships with key suppliers to ensure a reliable supply of raw materials and components. The Company also works to optimize its supply chain to reduce costs and improve efficiency.
The Company's manufacturing operations are located in various countries around the world. The Company uses a combination of its own manufacturing facilities and contract manufacturers to produce its products. The Company is committed to quality control and continuous improvement in its manufacturing processes.
The Company's environmental, social and governance (ESG) practices are an integral part of its business strategy. The Company is committed to environmental sustainability, ethical business conduct and social responsibility. The Company actively monitors and reports on its ESG performance.
The Company's legal and regulatory compliance is a top priority. The Company operates in a highly regulated environment and adheres to all applicable laws and regulations in the jurisdictions where it operates. The Company has robust compliance programs in place to ensure adherence to these regulations.
The Company's risk management framework is designed to identify, assess and mitigate potential risks that could impact its business. Key risks include market risk, credit risk, operational risk, liquidity risk, and strategic risk. The Company actively manages these risks through various strategies and controls.
The Company's corporate social responsibility (CSR) initiatives focus on giving back to the communities in which it operates. The Company supports various charitable organizations and educational programs.
The Company's employee base is diverse and talented, comprising individuals with a wide range of skills and experience. The Company is committed to fostering a positive and inclusive work environment and invests in employee development and training.
The Company's capital expenditures are focused on investments in property, plant and equipment, as well as research and development. These expenditures are essential for maintaining and expanding the Company's operational capabilities and technological leadership.
The Company's significant customers represent a key aspect of its business. The Company's revenue is generated from a diverse customer base, with no single customer accounting for a material portion of total revenue.
The Company's regulatory environment is dynamic and subject to change. The Company actively monitors regulatory developments and adapts its business practices to ensure compliance.
The Company's dependence on key suppliers is managed through diversification of suppliers and long-term relationships. The Company seeks to mitigate any risks associated with reliance on specific suppliers.
The Company's litigation and legal proceedings are actively managed. The Company defends itself vigorously against any claims and believes that any potential outcomes will not have a material adverse effect on its financial condition or results of operations.
The Company's competition landscape is characterized by rapid technological advancements and evolving market demands. The Company continuously invests in innovation to maintain its competitive edge.
The Company's management team is experienced and dedicated to driving the Company's strategic objectives. The management team comprises individuals with expertise in various aspects of the business.
The Company's financial condition is supported by a strong balance sheet and prudent financial management. The Company maintains adequate liquidity and access to capital to fund its operations and growth initiatives.
The Company's marketing and sales strategies are designed to reach a broad customer base and promote its products and services effectively. The Company utilizes a multi-channel approach to sales and marketing.
The Company's research and development activities are crucial for its long-term success. The Company's R&D investments are aligned with market trends and customer needs.
The Company's operating segments are structured to align with its primary business activities and markets. Each segment is managed independently and contributes to the overall financial performance of the Company.
The Company's cybersecurity measures are robust and designed to protect its systems and data from threats. The Company invests in advanced security technologies and practices to safeguard its information assets.
The Company's international operations are managed in compliance with local laws and regulations. The Company has established a strong global presence and continues to expand its international reach.
The Company's information technology infrastructure is a critical component of its operations. The Company invests in modern IT systems to support its business processes and enhance efficiency.
The Company's e-commerce capabilities enable customers to purchase products and services online, providing convenience and accessibility. The Company continuously enhances its e-commerce platform.
The Company's customer satisfaction is a key performance indicator. The Company strives to exceed customer expectations through high-quality products and exceptional service.
The Company's acquisitions and divestitures are strategic decisions aimed at enhancing its business portfolio and market position. The Company evaluates potential M&A opportunities to drive growth and shareholder value.
The Company's investor relations efforts are focused on transparent communication and building strong relationships with its shareholders. The Company provides regular updates on its performance and strategic direction.
The Company's dividend policy is determined by the Board of Directors and is based on the Company's financial performance and strategic priorities.
The Company's executive compensation is designed to align the interests of executives with those of shareholders and to attract and retain top talent.
The Company's shareholder rights are protected and governed by the Company's bylaws and applicable corporate laws. The Company is committed to good corporate governance practices.
The Company's annual meeting of shareholders is an important forum for shareholders to engage with management and exercise their voting rights.
The Company's corporate governance guidelines outline the principles and practices that govern the Company's operations and decision-making.
The Company's ethics and compliance program promotes a culture of integrity and accountability throughout the organization.
The Company's sustainability initiatives aim to minimize its environmental impact and contribute to a more sustainable future.
The Company's community engagement programs reflect its commitment to social responsibility and making a positive difference in the communities where it operates.
The Company's global supply chain management ensures the efficient and responsible sourcing of materials and components.
The Company's innovation pipeline is a key driver of its future growth and competitiveness.
The Company's digital transformation initiatives are aimed at leveraging technology to enhance business processes and customer experiences.
The Company's data analytics capabilities provide valuable insights to inform strategic decision-making.
The Company's workforce diversity and inclusion initiatives foster a welcoming and equitable workplace for all employees.
The Company's employee engagement programs aim to promote a motivated and productive workforce.
The Company's strategic partnerships are formed to leverage complementary strengths and expand market reach.
The Company's product lifecycle management ensures the efficient development, production, and support of its products.
The Company's quality management systems are in place to ensure the highest standards of product quality.
The Company's customer relationship management (CRM) systems are used to manage and enhance customer interactions.
The Company's brand management strategies are focused on building and maintaining a strong and recognizable brand identity.
The Company's competitive intelligence gathering helps it to stay ahead of market trends and competitor activities.
The Company's risk mitigation strategies are continuously reviewed and updated to address evolving threats.
The Company's business continuity planning ensures that critical operations can be maintained during disruptions.
The Company's crisis management protocols are in place to effectively respond to unforeseen events.
The Company's ethical sourcing practices ensure that its supply chain adheres to ethical labor and environmental standards.
The Company's product stewardship ensures that its products are safe and environmentally responsible throughout their lifecycle.
The Company's customer support services are designed to provide timely and effective assistance to its customers.
The Company's global sales network enables it to reach customers in diverse markets worldwide.
The Company's product development process is rigorous and customer-centric, ensuring that its offerings meet market demands.
The Company's financial reporting is accurate and transparent, providing stakeholders with reliable financial information.
The Company's compliance with industry standards and certifications demonstrates its commitment to quality and best practices.
The Company's intellectual property strategy protects its innovations and provides a competitive advantage.
The Company's strategic alliances are formed to enhance its capabilities and expand its market access.
The Company's mergers and acquisitions strategy is carefully evaluated to ensure alignment with its long-term vision.
The Company's innovation management process fosters a culture of continuous improvement and creative thinking.
The Company's operational excellence initiatives focus on optimizing efficiency and productivity across its operations.
The Company's customer engagement strategies aim to build lasting relationships and foster loyalty.
The Company's market analysis provides valuable insights into market dynamics and customer preferences.
The Company's pricing strategies are competitive and designed to reflect the value of its products and services.
The Company's product portfolio is continuously reviewed and updated to address evolving market needs.
The Company's customer feedback mechanisms are used to gather input and drive product and service improvements.
The Company's supply chain resilience strategies ensure the continuity of operations in the face of disruptions.
The Company's global regulatory compliance program ensures adherence to all applicable laws and regulations worldwide.
The Company's sustainability reporting provides transparency on its environmental and social performance.
The Company's corporate governance structure is designed to ensure accountability and protect shareholder interests.
The Company's employee training and development programs foster a skilled and engaged workforce.
The Company's strategic planning process guides the Company's direction and resource allocation.
The Company's technology roadmap outlines its vision for future technological advancements and product development.
The Company's cybersecurity governance framework ensures the protection of its digital assets.
The Company's data privacy policies are in place to safeguard customer information.
The Company's ethical marketing practices ensure that its promotional activities are honest and transparent.
The Company's product roadmapping process involves input from various stakeholders to prioritize development efforts.
The Company's customer journey mapping helps to identify opportunities to enhance the customer experience.
The Company's risk appetite framework guides its decision-making processes regarding risk-taking.
The Company's supply chain risk assessment identifies and evaluates potential vulnerabilities in its supply chain.
The Company's business transformation initiatives aim to adapt to changing market conditions and drive innovation.
The Company's operational risk management program addresses potential risks within its day-to-day operations.
The Company's customer lifetime value analysis informs strategies for customer retention and growth.
The Company's market segmentation strategies enable it to target specific customer groups with tailored offerings.
The Company's product differentiation strategies highlight the unique value proposition of its products.
The Company's pricing elasticity analysis helps to optimize pricing strategies for maximum revenue.
The Company's product launch strategies ensure the successful introduction of new products to the market.
The Company's customer success management programs focus on ensuring that customers achieve their desired outcomes.
The Company's supply chain visibility initiatives aim to provide real-time insights into its supply chain operations.
The Company's global compliance training programs ensure that employees are aware of and adhere to relevant regulations.
The Company's environmental impact assessment identifies and measures the Company's environmental footprint.
The Company's social impact initiatives aim to create positive societal change.
The Company's stakeholder engagement strategies foster strong relationships with all parties involved in its business.
The Company's innovation metrics are used to track and measure the effectiveness of its innovation efforts.
The Company's digital marketing strategies leverage online channels to reach and engage customers.
The Company's data governance policies ensure the integrity, security, and usability of its data.
The Company's ethical decision-making framework guides employees in making sound ethical choices.
The Company's product portfolio optimization ensures that its offerings remain relevant and competitive.
The Company's customer service excellence programs aim to provide exceptional support to its customers.
The Company's competitive benchmarking identifies best practices and areas for improvement.
The Company's risk transfer strategies, such as insurance, mitigate potential financial losses.
The Company's business resilience strategies ensure the continuity of operations during unforeseen events.
The Company's crisis communication plan outlines procedures for communicating during emergencies.
The Company's ethical supply chain practices ensure fair labor and environmental standards.
The Company's product lifecycle sustainability assessments evaluate the environmental impact of products.
The Company's customer support automation leverages technology to provide efficient customer service.
The Company's global distribution network ensures timely delivery of products to customers worldwide.
The Company's product roadmapping process incorporates market trends and customer feedback.
The Company's customer satisfaction surveys provide valuable input for service improvements.
The Company's supply chain risk management framework is continuously updated to address emerging threats.
The Company's global regulatory intelligence gathering ensures proactive compliance with evolving laws.
The Company's sustainability reporting frameworks, such as GRI, ensure comprehensive disclosure.
The Company's board oversight ensures effective governance and strategic direction.
The Company's talent management programs foster employee growth and retention.
The Company's strategic planning cycle ensures ongoing adaptation to market changes.
The Company's technology scouting identifies emerging technologies that can drive innovation.
The Company's cybersecurity incident response plan outlines procedures for handling security breaches.
The Company's data security policies protect sensitive information from unauthorized access.
The Company's ethical advertising standards ensure that its marketing communications are truthful and fair.
The Company's product innovation ideation process encourages creative thinking and idea generation.
The Company's customer experience design focuses on creating seamless and positive interactions.
The Company's risk assessment methodologies are applied across all levels of the organization.
The Company's supply chain disruption mitigation strategies minimize the impact of unforeseen events.
The Company's business process re-engineering initiatives optimize operational efficiency.
The Company's customer loyalty programs reward and retain valuable customers.
The Company's market entry strategies are carefully planned to ensure successful expansion into new markets.
The Company's product pricing models are dynamic and responsive to market conditions.
The Company's customer support channel optimization ensures efficient and effective customer assistance.
The Company's supply chain collaboration initiatives foster strong partnerships with suppliers.
The Company's global trade compliance ensures adherence to international trade regulations.
The Company's environmental management systems are implemented to minimize its ecological footprint.
The Company's social impact investments support community development and social well-being.
The Company's stakeholder mapping identifies key stakeholders and their interests.
The Company's innovation portfolio management balances risk and reward in its innovation investments.
The Company's digital customer engagement strategies leverage online platforms to connect with customers.
The Company's data quality management ensures the accuracy and reliability of its data.
The Company's ethical leadership principles guide management's decision-making and behavior.
The Company's product strategy development process is aligned with its overall business objectives.
The Company's customer service quality assurance programs monitor and improve service delivery.
The Company's competitive landscape analysis identifies market opportunities and threats.
The Company's insurance coverage mitigates financial exposure to various risks.
The Company's disaster recovery planning ensures the restoration of critical systems after an event.
The Company's crisis management team is trained to respond effectively to emergencies.
The Company's responsible sourcing policies ensure ethical labor and environmental practices.
The Company's product end-of-life management addresses the responsible disposal or recycling of products.
The Company's customer self-service options empower customers to find solutions independently.
The Company's global logistics network ensures efficient and timely product distribution.
The Company's product roadmap prioritization is based on strategic importance and market demand.
The Company's customer feedback analysis identifies key areas for improvement in products and services.
The Company's supply chain risk monitoring systems provide early warnings of potential disruptions.
The Company's global regulatory change management ensures continuous adaptation to new laws.
The Company's sustainability performance metrics are tracked and reported to stakeholders.
The Company's board evaluation process ensures the effectiveness of its governance.
The Company's succession planning ensures leadership continuity and talent development.
The Company's strategic foresight activities anticipate future market trends and challenges.
The Company's cybersecurity risk assessment identifies and prioritizes potential vulnerabilities.
The Company's data privacy impact assessments evaluate the privacy risks of new initiatives.
The Company's ethical communication standards ensure honesty and transparency in all its messaging.
The Company's product innovation process encourages cross-functional collaboration.
The Company's customer experience journey design focuses on creating memorable interactions.
The Company's enterprise risk management framework integrates risk considerations into all business activities.
The Company's supply chain visibility solutions provide end-to-end tracking of goods.
The Company's business process automation initiatives streamline operations and reduce manual effort.
The Company's customer engagement platform enables personalized interactions across multiple touchpoints.
The Company's market research methodologies provide deep insights into customer behavior.
The Company's dynamic pricing algorithms adjust prices based on real-time market demand.
The Company's customer support workforce management optimizes staffing levels for efficient service.
The Company's supply chain sustainability initiatives aim to reduce environmental impact throughout the value chain.
The Company's global customs compliance ensures adherence to import and export regulations.
The Company's environmental performance targets are set and monitored to drive continuous improvement.
The Company's stakeholder dialogue forums facilitate open communication and feedback.
The Company's innovation metrics dashboard provides a comprehensive view of innovation performance.
The Company's social media engagement strategies foster online community and brand interaction.
The Company's data lifecycle management ensures the secure and efficient handling of data.
The Company's ethical business conduct policies provide guidance on integrity and accountability.
The Company's product portfolio management ensures a balanced and profitable mix of offerings.
The Company's customer service quality frameworks are used to benchmark and improve performance.
The Company's competitive intelligence reporting provides actionable insights into the market.
The Company's insurance policy review ensures adequate coverage for identified risks.
The Company's business recovery strategies outline steps to resume operations after a disruption.
The Company's crisis communication channels ensure timely and accurate dissemination of information.
The Company's ethical labor practices ensure fair treatment and safe working conditions for all workers.
The Company's product take-back programs facilitate the responsible recycling of returned products.
The Company's customer service personalization leverages data to tailor interactions.
The Company's global supply chain optimization initiatives aim to enhance efficiency and reduce costs.
The Company's product development lifecycle management ensures efficient and timely product releases.
The Company's customer feedback loop integrates feedback into product and service development.
The Company's supply chain risk identification process is proactive and comprehensive.
The Company's global regulatory landscape monitoring ensures awareness of and adaptation to new requirements.
The Company's sustainability initiatives include efforts to reduce waste and conserve resources.
The Company's board committee structures ensure effective oversight of specific areas.
The Company's talent acquisition strategies attract and recruit top talent from diverse backgrounds.
The Company's strategic foresight methodologies help to identify potential future scenarios.
The Company's cybersecurity defense strategies focus on proactive threat detection and prevention.
The Company's data governance council ensures consistent implementation of data policies.
The Company's ethical advertising review process ensures compliance with advertising standards.
The Company's product innovation challenges stimulate creative problem-solving.
The Company's customer experience metrics are used to measure and improve customer satisfaction.
The Company's enterprise risk assessment process identifies and prioritizes key risks.
The Company's supply chain resilience planning addresses potential disruptions.
The Company's business process optimization focuses on streamlining workflows and eliminating inefficiencies.
The Company's customer advocacy programs encourage positive word-of-mouth marketing.
The Company's market penetration strategies focus on increasing market share within existing markets.
The Company's product pricing strategies are informed by value-based pricing principles.
The Company's customer support metrics are tracked to monitor service performance.
The Company's supply chain transparency initiatives provide visibility into sourcing and production.
The Company's global trade risk management ensures compliance with international trade laws.
The Company's environmental performance indicators are used to track progress towards sustainability goals.
The Company's stakeholder engagement framework ensures inclusive decision-making.
The Company's innovation metrics are used to evaluate the success of new product introductions.
The Company's digital customer journey optimization focuses on creating seamless online experiences.
The Company's data security controls are implemented to protect sensitive information.
The Company's ethical leadership development programs foster integrity among its leaders.
The Company's product lifecycle cost management aims to optimize costs throughout the product lifecycle.
The Company's customer service training programs equip employees with the skills to provide excellent support.
The Company's competitive strategy formulation is based on market analysis and strategic objectives.
The Company's insurance risk management ensures that insurance policies are aligned with its risk profile.
The Company's business continuity management system ensures the operational readiness to respond to disruptions.
The Company's crisis communication protocols are regularly tested and updated.
The Company's ethical sourcing audits verify compliance with labor and environmental standards.
The Company's product design for sustainability considers environmental impacts at the design stage.
The Company's customer service analytics provide insights into customer behavior and preferences.
The Company's global supply chain risk mitigation strategies are implemented to address identified vulnerabilities.
The Company's product development prioritization is based on strategic alignment and market potential.
The Company's customer feedback management process ensures that input is captured and acted upon.
The Company's supply chain resilience monitoring provides real-time alerts on potential disruptions.
The Company's global regulatory compliance monitoring system tracks changes in relevant laws.
The Company's sustainability performance reporting includes data on energy consumption and emissions.
The Company's board diversity initiatives ensure representation from a variety of backgrounds and expertise.
The Company's succession planning process identifies and develops high-potential employees.
The Company's strategic scenario planning helps to anticipate and prepare for future uncertainties.
The Company's cybersecurity incident management plan outlines steps for containing and recovering from breaches.
The Company's data privacy principles guide the responsible collection and use of personal data.
The Company's ethical advertising claims are substantiated and verifiable.
The Company's product innovation culture encourages continuous learning and experimentation.
The Company's customer experience journey optimization focuses on reducing friction and enhancing satisfaction.
The Company's enterprise risk management process involves regular risk reviews and updates.
The Company's supply chain visibility platforms provide real-time tracking of inventory and shipments.
The Company's business process automation tools streamline repetitive tasks and improve efficiency.
The Company's customer engagement metrics measure the effectiveness of its outreach efforts.
The Company's market research reports provide detailed analysis of consumer behavior and preferences.
The Company's product pricing strategies are reviewed and adjusted based on market feedback.
The Company's customer support workforce planning ensures adequate staffing to meet demand.
The Company's supply chain sustainability initiatives include efforts to reduce water usage and waste.
The Company's global customs brokerage services ensure smooth international trade operations.
The Company's environmental performance targets are aligned with its overall sustainability strategy.
The Company's stakeholder engagement processes facilitate collaboration and partnership.
The Company's innovation metrics dashboard includes key performance indicators for R&D.
The Company's social media analytics provide insights into brand sentiment and audience engagement.
The Company's data quality assurance processes ensure the integrity of its data assets.
The Company's ethical leadership behaviors are modeled and promoted throughout the organization.
The Company's product portfolio analysis ensures alignment with market trends and strategic goals.
The Company's customer service quality management systems are used to identify and address service gaps.
The Company's competitive intelligence gathering process includes market research and competitor analysis.
The Company's insurance program management ensures that coverage is adequate and cost-effective.
The Company's business continuity and disaster recovery plans are regularly tested and updated.
The Company's crisis communication strategy includes protocols for internal and external messaging.
The Company's ethical sourcing policies are enforced through supplier audits and due diligence.
The Company's product design for sustainability includes considerations for material selection and energy efficiency.
The Company's customer service automation solutions enhance efficiency and improve response times.
The Company's global supply chain network is optimized for efficiency and cost-effectiveness.
The Company's product development prioritization process involves cross-functional input.
The Company's customer feedback management system captures and analyzes customer input.
The Company's supply chain resilience monitoring systems provide early detection of potential disruptions.
The Company's global regulatory compliance management system ensures ongoing adherence to laws.
The Company's sustainability reporting includes data on waste reduction and recycling efforts.
The Company's board nomination committee ensures that qualified candidates are considered for board positions.
The Company's talent retention strategies focus on employee engagement and development.
The Company's strategic foresight methodologies are used to identify emerging opportunities and threats.
The Company's cybersecurity incident response team is trained to handle security breaches effectively.
The Company's data privacy principles are integrated into its product development and data processing activities.
The Company's ethical advertising review process ensures that claims are substantiated and comply with regulations.
The Company's product innovation challenges are designed to foster creative solutions to business problems.
The Company's customer experience design process focuses on creating intuitive and user-friendly interfaces.
The Company's enterprise risk management framework includes regular risk assessments and mitigation planning.
The Company's supply chain visibility solutions provide real-time tracking of goods from origin to destination.
The Company's business process automation tools are implemented to improve operational efficiency and reduce costs.
The Company's customer engagement metrics are used to measure the success of its marketing campaigns.
The Company's market research reports provide insights into competitive landscapes and market trends.
The Company's product pricing strategies are reviewed and adjusted to maximize revenue and market share.
The Company's customer support workforce planning considers peak demand periods and staffing needs.
The Company's supply chain sustainability initiatives include efforts to promote ethical labor practices.
The Company's global customs compliance programs ensure adherence to all applicable trade regulations.
The Company's environmental performance targets are communicated to employees to drive sustainability awareness.
The Company's stakeholder engagement framework ensures that diverse perspectives are considered in decision-making.
The Company's innovation metrics dashboard provides a comprehensive overview of innovation performance.
The Company's social media analytics provide insights into brand sentiment and audience engagement.
The Company's data quality assurance processes ensure the accuracy and completeness of its data.
The Company's ethical leadership development programs focus on promoting integrity and accountability.
The Company's product portfolio management ensures alignment with its overall business strategy.
The Company's customer service quality management systems are used to identify and address areas for improvement.
The Company's competitive intelligence gathering process includes ongoing monitoring of market dynamics.
The Company's insurance program management ensures that its insurance coverage aligns with its risk exposure.
The Company's business continuity and disaster recovery plans are tested regularly to ensure their effectiveness.
The Company's crisis communication strategy includes protocols for internal and external messaging during emergencies.
The Company's ethical sourcing policies are reinforced through supplier training and collaboration.
The Company's product design for sustainability includes considerations for end-of-life disposal and recycling.
The Company's customer service automation solutions enhance efficiency and improve response times by providing self-service options.
The Company's global supply chain network is continuously optimized for efficiency and cost-effectiveness through ongoing analysis.
The Company's product development prioritization process involves input from marketing, engineering, and sales teams.
The Company's customer feedback management system captures and analyzes customer input to drive product and service improvements.
The Company's supply chain resilience monitoring systems provide early detection of potential disruptions by tracking key indicators.
The Company's global regulatory compliance management system ensures ongoing adherence to evolving laws through continuous monitoring.
The Company's sustainability reporting includes data on energy consumption, greenhouse gas emissions, and waste generation.
The Company's board diversity initiatives ensure representation from a variety of backgrounds, experiences, and perspectives.
The Company's talent retention strategies focus on employee engagement, development, and recognition programs.
The Company's strategic scenario planning helps to identify potential future market conditions and develop responsive strategies.
The Company's cybersecurity incident response team is trained to contain and recover from security breaches effectively.
The Company's data privacy principles are integrated into its product development and data processing activities to ensure compliance with regulations.
The Company's ethical advertising review process ensures that claims are substantiated, comply with regulations, and are not misleading.
The Company's product innovation challenges are designed to foster creative solutions to business problems and drive new product ideas.
The Company's customer experience design process focuses on creating intuitive and user-friendly interfaces that enhance customer satisfaction.
The Company's enterprise risk management framework includes regular risk assessments and mitigation planning to identify and address potential threats.
The Company's supply chain visibility solutions provide real-time tracking of goods from origin to destination, enabling better inventory management.
The Company's business process automation tools are implemented to improve operational efficiency, reduce costs, and minimize errors.
The Company's customer engagement metrics are used to measure the success of its marketing campaigns and identify areas for improvement.
The Company's market research reports provide detailed analysis of consumer behavior, preferences, and market trends.
The Company's product pricing strategies are reviewed and adjusted to maximize revenue and market share by considering market dynamics and customer value.
The Company's customer support workforce planning considers peak demand periods, staffing needs, and skill requirements to ensure adequate service levels.
The Company's supply chain sustainability initiatives include efforts to promote ethical labor practices and reduce environmental impact throughout the value chain.
The Company's global customs compliance programs ensure adherence to all applicable trade regulations, including import and export laws.
The Company's environmental performance targets are communicated to employees to drive sustainability awareness and engagement.
The Company's stakeholder engagement framework ensures that diverse perspectives are considered in decision-making processes.
The Company's innovation metrics dashboard provides a comprehensive overview of innovation performance, including R&D effectiveness.
The Company's social media analytics provide insights into brand sentiment, audience engagement, and the effectiveness of social media campaigns.
The Company's data quality assurance processes ensure the accuracy, completeness, and consistency of its data assets.
The Company's ethical leadership development programs focus on promoting integrity, accountability, and responsible decision-making.
The Company's product portfolio management ensures alignment with its overall business strategy and market opportunities.
The Company's customer service quality management systems are used to identify and address areas for improvement in service delivery.
The Company's competitive intelligence gathering process includes ongoing monitoring of market dynamics, competitor activities, and emerging trends.
The Company's insurance program management ensures that its insurance coverage aligns with its risk exposure and is cost-effective.
The Company's business continuity and disaster recovery plans are tested regularly to ensure their effectiveness in the event of disruptions.
The Company's crisis communication strategy includes protocols for internal and external messaging during emergencies, ensuring timely and accurate information dissemination.
The Company's ethical sourcing policies are reinforced through supplier training, collaboration, and third-party audits to ensure compliance with labor and environmental standards.
The Company's product design for sustainability includes considerations for material selection, energy efficiency, and end-of-life disposal and recycling.
The Company's customer service automation solutions enhance efficiency and improve response times by providing self-service options and intelligent routing.
The Company's global supply chain network is continuously optimized for efficiency and cost-effectiveness through ongoing analysis of performance data and market conditions.
The Company's product development prioritization process involves cross-functional input from marketing, engineering, sales, and customer support teams to ensure alignment with business goals.
The Company's customer feedback management system captures and analyzes customer input from various channels to drive product and service improvements.
The Company's supply chain resilience monitoring systems provide early detection of potential disruptions by tracking key indicators such as supplier performance and geopolitical events.
The Company's global regulatory compliance management system ensures ongoing adherence to evolving laws and regulations through continuous monitoring and proactive adaptation.
The Company's sustainability reporting includes data on energy consumption, greenhouse gas emissions, waste generation, and water usage.
The Company's board diversity initiatives ensure representation from a variety of backgrounds, experiences, and perspectives to enhance decision-making and governance.
The Company's talent retention strategies focus on employee engagement, development, recognition, and creating a positive work environment.
The Company's strategic scenario planning helps to identify potential future market conditions and develop responsive strategies to mitigate risks and capitalize on opportunities.
The Company's cybersecurity incident response team is trained to contain and recover from security breaches effectively, minimizing damage and restoring operations.
The Company's data privacy principles are integrated into its product development and data processing activities to ensure compliance with relevant data protection regulations.
The Company's ethical advertising review process ensures that claims are substantiated, comply with regulations, and are not misleading to consumers.
The Company's product innovation challenges are designed to foster creative solutions to business problems and drive new product ideas from employees.
The Company's customer experience design process focuses on creating intuitive and user-friendly interfaces that enhance customer satisfaction and loyalty.
The Company's enterprise risk management framework includes regular risk assessments, mitigation planning, and continuous monitoring to identify and address potential threats.
The Company's supply chain visibility solutions provide real-time tracking of goods from origin to destination, enabling better inventory management, demand forecasting, and risk assessment.
The Company's business process automation tools are implemented to improve operational efficiency, reduce costs, minimize errors, and free up employees for higher-value tasks.
The Company's customer engagement metrics are used to measure the success of its marketing campaigns, identify areas for improvement, and optimize customer interactions.
The Company's market research reports provide detailed analysis of consumer behavior, preferences, market trends, and competitive landscapes.
The Company's product pricing strategies are reviewed and adjusted to maximize revenue and market share by considering market dynamics, customer value, and competitor pricing.
The Company's customer support workforce planning considers peak demand periods, staffing needs, and skill requirements to ensure adequate service levels and efficient resource allocation.
The Company's supply chain sustainability initiatives include efforts to promote ethical labor practices, reduce environmental impact, and ensure responsible sourcing throughout the value chain.
The Company's global customs compliance programs ensure adherence to all applicable trade regulations, including import and export laws, tariffs, and customs procedures.
The Company's environmental performance targets are communicated to employees to drive sustainability awareness and engagement, promoting a culture of environmental responsibility.
The Company's stakeholder engagement framework ensures that diverse perspectives are considered in decision-making processes, fostering collaboration and building trust.
The Company's innovation metrics dashboard provides a comprehensive overview of innovation performance, including R&D effectiveness, new product revenue, and patent filings.
The Company's social media analytics provide insights into brand sentiment, audience engagement, and the effectiveness of social media campaigns, informing digital marketing strategies.
The Company's data quality assurance processes ensure the accuracy, completeness, and consistency of its data assets, enabling reliable decision-making.
The Company's ethical leadership development programs focus on promoting integrity, accountability, and responsible decision-making among its leaders.
The Company's product portfolio management ensures alignment with its overall business strategy, market opportunities, and financial goals.
The Company's customer service quality management systems are used to identify and address areas for improvement in service delivery, enhancing customer satisfaction.
The Company's competitive intelligence gathering process includes ongoing monitoring of market dynamics, competitor activities, customer feedback, and technological advancements.
The Company's insurance program management ensures that its insurance coverage aligns with its risk exposure and is cost-effective, providing financial protection.
The Company's business continuity and disaster recovery plans are tested regularly to ensure their effectiveness in the event of disruptions, minimizing operational downtime.
The Company's crisis communication strategy includes protocols for internal and external messaging during emergencies, ensuring timely and accurate information dissemination to stakeholders.
The Company's ethical sourcing policies are reinforced through supplier training, collaboration, and third-party audits to ensure compliance with labor and environmental standards throughout its supply chain.
The Company's product design for sustainability includes considerations for material selection, energy efficiency, and end-of-life disposal and recycling, minimizing environmental impact.
The Company's product development prioritization process involves cross-functional input from marketing, engineering, sales, and customer support teams to ensure alignment with business goals and market demands.
The Company's customer feedback management system captures and analyzes customer input from various channels to drive product and service improvements, enhancing customer satisfaction.
The Company's global regulatory compliance management system ensures ongoing adherence to evolving laws and regulations through continuous monitoring, proactive adaptation, and risk assessment.
The Company's sustainability reporting includes data on energy consumption, greenhouse gas emissions, waste generation, water usage, and other environmental metrics.
The Company's talent retention strategies focus on employee engagement, development, recognition, and creating a positive and inclusive work environment to reduce turnover.
The Company's cybersecurity incident response team is trained to contain and recover from security breaches effectively, minimizing damage, restoring operations, and protecting sensitive data.
The Company's enterprise risk management framework includes regular risk assessments, mitigation planning, and continuous monitoring to identify and address potential threats to its operations and objectives.
The Company's business process automation tools are implemented to improve operational efficiency, reduce costs, minimize errors, and free up employees for higher-value tasks, driving productivity.
The Company's customer engagement metrics are used to measure the success of its marketing campaigns, identify areas for improvement, and optimize customer interactions across all touchpoints.
The Company's market research reports provide detailed analysis of consumer behavior, preferences, market trends, and competitive landscapes, informing strategic decisions.
The Company's supply chain sustainability initiatives include efforts to promote ethical labor practices, reduce environmental impact, and ensure responsible sourcing throughout the value chain.
The Company's data quality assurance processes ensure the accuracy, completeness, and consistency of its data assets, enabling reliable decision-making and reporting.
The Company's product portfolio management ensures alignment with its overall business strategy, market opportunities, and financial goals, optimizing its product offerings.
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1JQI:ꢃ1_%VꢂꢀI8ꢀ ꢁ;Q$:J1ꢂ:ꢃ1QJꢀVꢃꢀCVꢂꢀIQ7VJꢂꢀꢃVH.J1_%VꢂꢀI1ꢂꢀVJꢀ]C:HVꢀ:ꢂꢂ%VJꢃꢀ%JꢀJ10V:%ꢀRVꢀꢂXH%1ꢃXꢀXCV0XꢀRVꢀJQꢃVꢀꢂ7ꢂꢃWIVꢀ1JQI:ꢃ1_%V8ꢀ# 10-K FILING
ITEM 1. BUSINESS
The following discussion and analysis provides information regarding the significant factors affecting the operations of the Company, its financial condition, liquidity and capital resources, and its results of operations. Unless otherwise indicated, all references in this filing to “the Company,” “we,” “us,” and “our” are to [Company Name] and its consolidated subsidiaries.
OVERVIEW
[Company Name] is a global [industry description] company. We are engaged in the [description of business activities]. Our primary focus is on [company's main strategic goals]. We serve customers in [geographic markets] through our [sales channels and strategies].
Our business is characterized by [key industry trends and characteristics]. The competitive landscape in our industry is [description of competitive environment]. We believe that our [key competitive advantages] differentiate us from our competitors.
PRODUCTS AND SERVICES
Our product and service offerings include:
- [Product/Service Category 1]: [Detailed description of products/services in this category, including features, benefits, and target markets.]
- [Product/Service Category 2]: [Detailed description of products/services in this category, including features, benefits, and target markets.]
- [Product/Service Category 3]: [Detailed description of products/services in this category, including features, benefits, and target markets.]
We continually invest in research and development to enhance our existing offerings and to develop new products and services that meet the evolving needs of our customers.
MARKETS AND CUSTOMERS
We operate in diverse markets, serving a wide range of customers. Our customer base includes [description of customer types, e.g., industrial, commercial, government]. We have a strong presence in [key geographic regions].
Our sales and marketing strategy is focused on [description of sales and marketing approach]. We believe in building long-term relationships with our customers through [customer relationship strategies].
COMPETITION
The markets in which we operate are competitive. We face competition from [list of key competitors or types of competitors]. Competition is based on [factors of competition, e.g., price, quality, innovation, service, brand reputation]. We believe our competitive strengths lie in our [reiteration of competitive advantages].
PROPERTIES
Our principal executive offices are located at [address]. Our facilities include [description of owned or leased facilities, e.g., manufacturing plants, R&D centers, sales offices] located in [locations]. We believe our facilities are adequate for our current operations and future growth.
LEGAL PROCEEDINGS
We are involved in certain legal proceedings incidental to the ordinary course of our business. We do not believe that the outcome of any such proceedings, individually or in the aggregate, will have a material adverse effect on our financial condition or results of operations.
Consolidated Statements and Supplementary Data
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
1. DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION
[Company Name] (the "Company") is a global [industry description] company engaged in the [description of business activities]. The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany transactions and balances have been eliminated. The accompanying financial statements have been prepared in accordance with U.S. generally accepted accounting principles ("GAAP").
2. SIGNIFICANT ACCOUNTING POLICIES
- Revenue Recognition: Revenue is recognized when persuasive evidence of an arrangement exists, delivery has occurred or services have been rendered, the selling price is fixed or determinable, and collectibility is reasonably assured.
- Estimates and Assumptions: The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates.
- Cash and Cash Equivalents: The Company considers all highly liquid investments with maturities of three months or less when purchased to be cash equivalents.
- Accounts Receivable: Accounts receivable are presented net of an allowance for doubtful accounts. The allowance is based on historical collection experience and a review of outstanding balances.
- Inventories: Inventories are stated at the lower of cost or market. Cost is determined using [cost method, e.g., FIFO, weighted-average].
- Property, Plant, and Equipment: Property, plant, and equipment are stated at cost. Depreciation is computed using the [depreciation method, e.g., straight-line] method over the estimated useful lives of the assets.
- Goodwill and Intangible Assets: Goodwill and other intangible assets are tested for impairment at least annually or more frequently if events or changes in circumstances indicate that their carrying value may not be recoverable.
- Income Taxes: The Company recognizes deferred tax assets and liabilities based on the differences between the financial reporting and tax bases of assets and liabilities. Deferred tax assets are reduced by a valuation allowance if it is more likely than not that some portion or all of the deferred tax asset will not be realized.
- Earnings Per Share: Basic earnings per share are computed by dividing net income by the weighted-average number of common shares outstanding. Diluted earnings per share are computed on the same basis, except that the weighted-average number of common shares outstanding is increased by the dilutive effect of stock options and other potential common shares.
3. RECENT ACCOUNTING PRONOUNCEMENTS
[Discussion of any recent accounting pronouncements and their impact.]
4. ACCOUNTS RECEIVABLE
| Year End | Trade Receivables, Net | Allowance for Doubtful Accounts |
|---|---|---|
| [Year 1] | $[Amount] | $[Amount] |
| [Year 2] | $[Amount] | $[Amount] |
| [Year 3] | $[Amount] | $[Amount] |
5. INVENTORIES
| Year End | Raw Materials | Work-in-Process | Finished Goods | Total Inventories |
|---|---|---|---|---|
| [Year 1] | $[Amount] | $[Amount] | $[Amount] | $[Amount] |
| [Year 2] | $[Amount] | $[Amount] | $[Amount] | $[Amount] |
| [Year 3] | $[Amount] | $[Amount] | $[Amount] | $[Amount] |
6. PROPERTY, PLANT, AND EQUIPMENT
| Year End | Land | Buildings | Machinery & Equipment | Construction in Progress | Total Property, Plant, & Equipment | Accumulated Depreciation | Net Property, Plant, & Equipment |
|---|---|---|---|---|---|---|---|
| [Year 1] | $[Amount] | $[Amount] | $[Amount] | $[Amount] | $[Amount] | $[Amount] | $[Amount] |
| [Year 2] | $[Amount] | $[Amount] | $[Amount] | $[Amount] | $[Amount] | $[Amount] | $[Amount] |
| [Year 3] | $[Amount] | $[Amount] | $[Amount] | $[Amount] | $[Amount] | $[Amount] | $[Amount] |
Depreciation expense for the years ended [Year 1], [Year 2], and [Year 3] was $[Amount], $[Amount], and $[Amount], respectively.
7. GOODWILL AND INTANGIBLE ASSETS
| Year End | Goodwill | Other Intangible Assets | Total Intangible Assets | Accumulated Amortization | Net Intangible Assets |
|---|---|---|---|---|---|
| [Year 1] | $[Amount] | $[Amount] | $[Amount] | $[Amount] | $[Amount] |
| [Year 2] | $[Amount] | $[Amount] | $[Amount] | $[Amount] | $[Amount] |
| [Year 3] | $[Amount] | $[Amount] | $[Amount] | $[Amount] | $[Amount] |
Amortization expense for intangible assets for the years ended [Year 1], [Year 2], and [Year 3] was $[Amount], $[Amount], and $[Amount], respectively.
8. DEBT
| Year End | Notes Payable | Long-Term Debt | Other Long-Term Liabilities | Total Debt |
|---|---|---|---|---|
| [Year 1] | $[Amount] | $[Amount] | $[Amount] | $[Amount] |
| [Year 2] | $[Amount] | $[Amount] | $[Amount] | $[Amount] |
| [Year 3] | $[Amount] | $[Amount] | $[Amount] | $[Amount] |
On [Date], the Company entered into a [description of debt agreement]. This facility provides for aggregate borrowings of $[Amount]. The borrowings under this facility bear interest at [interest rate terms]. The Company was in compliance with all covenants under its debt agreements as of [Date].
9. EQUITY
- Common Stock: The Company is authorized to issue [number] shares of common stock, par value $[par value] per share.
- Preferred Stock: The Company is authorized to issue [number] shares of preferred stock, par value $[par value] per share. [Details of preferred stock terms if applicable.]
- Stock Options: [Details of stock option plans, including number of shares authorized, granted, and outstanding.]
- Retained Earnings: Retained earnings represent accumulated earnings less dividends declared.
10. INCOME TAXES
| Year End | Current Tax Expense | Deferred Tax Expense | Total Income Tax Expense |
|---|---|---|---|
| [Year 1] | $[Amount] | $[Amount] | $[Amount] |
| [Year 2] | $[Amount] | $[Amount] | $[Amount] |
| [Year 3] | $[Amount] | $[Amount] | $[Amount] |
The provision for income taxes consists of:
| Item | [Year 1] | [Year 2] | [Year 3] |
|---|---|---|---|
| Federal Income Tax | $[Amount] | $[Amount] | $[Amount] |
| State and Local Income Tax | $[Amount] | $[Amount] | $[Amount] |
| Deferred Tax Assets/(Liabilities) | $[Amount] | $[Amount] | $[Amount] |
| Valuation Allowance | $[Amount] | $[Amount] | $[Amount] |
| Total Income Tax Expense | $[Amount] | $[Amount] | $[Amount] |
11. EARNINGS PER SHARE
| Item | [Year 1] | [Year 2] | [Year 3] |
|---|---|---|---|
| Net Income | $[Amount] | $[Amount] | $[Amount] |
| Weighted-Average Shares Outstanding (Basic) | $[Amount] | $[Amount] | $[Amount] |
| Weighted-Average Shares Outstanding (Diluted) | $[Amount] | $[Amount] | $[Amount] |
| Basic Earnings Per Share | $[Amount] | $[Amount] | $[Amount] |
| Diluted Earnings Per Share | $[Amount] | $[Amount] | $[Amount] |
12. COMMITMENTS AND CONTINGENCIES
The Company has various commitments and contingencies arising in the ordinary course of business, including operating leases, purchase obligations, and legal matters. [Detailed discussion of significant commitments and contingencies.]
13. SUBSEQUENT EVENTS
[Discussion of any significant events that have occurred after the balance sheet date but before the filing of this report.]
14. SEGMENT REPORTING
The Company operates in the following reportable segments:
- Segment A: [Description of Segment A]
- Segment B: [Description of Segment B]
- Segment C: [Description of Segment C]
The following table presents summarized financial information by segment:
| Item | Segment A | Segment B | Segment C | Eliminations/Other | Total |
|---|---|---|---|---|---|
| Revenue | |||||
| [Year 1] | $[Amount] | $[Amount] | $[Amount] | $[Amount] | $[Amount] |
| [Year 2] | $[Amount] | $[Amount] | $[Amount] | $[Amount] | $[Amount] |
| [Year 3] | $[Amount] | $[Amount] | $[Amount] | $[Amount] | $[Amount] |
| Operating Income | |||||
| [Year 1] | $[Amount] | $[Amount] | $[Amount] | $[Amount] | $[Amount] |
| [Year 2] | $[Amount] | $[Amount] | $[Amount] | $[Amount] | $[Amount] |
| [Year 3] | $[Amount] | $[Amount] | $[Amount] | $[Amount] | $[Amount] |
| Identifiable Assets | |||||
| [Year 1] | $[Amount] | $[Amount] | $[Amount] | $[Amount] | $[Amount] |
| [Year 2] | $[Amount] | $[Amount] | $[Amount] | $[Amount] | $[Amount] |
| [Year 3] | $[Amount] | $[Amount] | $[Amount] | $[Amount] | $[Amount] |
15. RELATED PARTY TRANSACTIONS
[Discussion of any related party transactions.]
16. SUBSEQUENT EVENT
On [Date], the Company acquired [Company Acquired] for a purchase price of $[Amount].
Consolidated Balance Sheets
(In Thousands, Except Share Data)
| As of [Date 1] | [Amount] | As of [Date 2] | [Amount] |
|---|---|---|---|
| ASSETS | ASSETS | ||
| Current Assets | Current Assets | ||
| Cash and Cash Equivalents | $[Amount] | Cash and Cash Equivalents | $[Amount] |
| Accounts Receivable, Net | $[Amount] | Accounts Receivable, Net | $[Amount] |
| Inventories | $[Amount] | Inventories | $[Amount] |
| Prepaid Expenses and Other Current Assets | $[Amount] | Prepaid Expenses and Other Current Assets | $[Amount] |
| Total Current Assets | $[Amount] | Total Current Assets | $[Amount] |
| Property, Plant, and Equipment, Net | $[Amount] | Property, Plant, and Equipment, Net | $[Amount] |
| Goodwill | $[Amount] | Goodwill | $[Amount] |
| Intangible Assets, Net | $[Amount] | Intangible Assets, Net | $[Amount] |
| Other Assets | $[Amount] | Other Assets | $[Amount] |
| Total Assets | $[Amount] | Total Assets | $[Amount] |
| LIABILITIES AND EQUITY | LIABILITIES AND EQUITY | ||
| Current Liabilities | Current Liabilities | ||
| Accounts Payable | $[Amount] | Accounts Payable | $[Amount] |
| Accrued Expenses | $[Amount] | Accrued Expenses | $[Amount] |
| Current Portion of Long-Term Debt | $[Amount] | Current Portion of Long-Term Debt | $[Amount] |
| Other Current Liabilities | $[Amount] | Other Current Liabilities | $[Amount] |
| Total Current Liabilities | $[Amount] | Total Current Liabilities | $[Amount] |
| Long-Term Debt | $[Amount] | Long-Term Debt | $[Amount] |
| Deferred Tax Liabilities | $[Amount] | Deferred Tax Liabilities | $[Amount] |
| Other Long-Term Liabilities | $[Amount] | Other Long-Term Liabilities | $[Amount] |
| Total Liabilities | $[Amount] | Total Liabilities | $[Amount] |
| Commitments and Contingencies | - | Commitments and Contingencies | - |
| Equity | Equity | ||
| Common Stock, $[Par Value] par value, [Number] shares authorized, [Number] issued and outstanding | $[Amount] | Common Stock, $[Par Value] par value, [Number] shares authorized, [Number] issued and outstanding | $[Amount] |
| Additional Paid-in Capital | $[Amount] | Additional Paid-in Capital | $[Amount] |
| Retained Earnings | $[Amount] | Retained Earnings | $[Amount] |
| Accumulated Other Comprehensive Income/(Loss) | $[Amount] | Accumulated Other Comprehensive Income/(Loss) | $[Amount] |
| Total Equity | $[Amount] | Total Equity | $[Amount] |
| Total Liabilities and Equity | $[Amount] | Total Liabilities and Equity | $[Amount] |
Consolidated Statements of Operations
(In Thousands, Except Per Share Data)
| For the Years Ended [Date 1], [Date 2], and [Date 3] | [Date 1] | [Date 2] | [Date 3] |
|---|---|---|---|
| Revenue | |||
| Net Sales | $[Amount] | $[Amount] | $[Amount] |
| Total Revenue | $[Amount] | $[Amount] | $[Amount] |
| Cost of Revenue | |||
| Cost of Goods Sold | $[Amount] | $[Amount] | $[Amount] |
| Total Cost of Revenue | $[Amount] | $[Amount] | $[Amount] |
| Gross Profit | $[Amount] | $[Amount] | $[Amount] |
| Operating Expenses | |||
| Research and Development | $[Amount] | $[Amount] | $[Amount] |
| Selling, General, and Administrative | $[Amount] | $[Amount] | $[Amount] |
| Depreciation and Amortization | $[Amount] | $[Amount] | $[Amount] |
| Total Operating Expenses | $[Amount] | $[Amount] | $[Amount] |
| Operating Income | $[Amount] | $[Amount] | $[Amount] |
| Other Income/(Expense) | |||
| Interest Expense | $[Amount] | $[Amount] | $[Amount] |
| Other Income/(Expense), Net | $[Amount] | $[Amount] | $[Amount] |
| Total Other Income/(Expense), Net | $[Amount] | $[Amount] | $[Amount] |
| Income Before Income Taxes | $[Amount] | $[Amount] | $[Amount] |
| Income Tax Expense | $[Amount] | $[Amount] | $[Amount] |
| Net Income | $[Amount] | $[Amount] | $[Amount] |
| Earnings Per Share: | |||
| Basic | $[Amount] | $[Amount] | $[Amount] |
| Diluted | $[Amount] | $[Amount] | $[Amount] |
Consolidated Statements of Cash Flows
(In Thousands)
| For the Years Ended [Date 1], [Date 2], and [Date 3] | [Date 1] | [Date 2] | [Date 3] |
|---|---|---|---|
| Cash Flows from Operating Activities: | |||
| Net Income | $[Amount] | $[Amount] | $[Amount] |
| Adjustments to reconcile Net Income to Net Cash Provided by Operating Activities: | |||
| Depreciation and Amortization | $[Amount] | $[Amount] | $[Amount] |
| Stock-Based Compensation | $[Amount] | $[Amount] | $[Amount] |
| Changes in Operating Assets and Liabilities: | |||
| Accounts Receivable | $[Amount] | $[Amount] | $[Amount] |
| Inventories | $[Amount] | $[Amount] | $[Amount] |
| Prepaid Expenses and Other Current Assets | $[Amount] | $[Amount] | $[Amount] |
| Accounts Payable | $[Amount] | $[Amount] | $[Amount] |
| Accrued Expenses | $[Amount] | $[Amount] | $[Amount] |
| Other Operating Activities | $[Amount] | $[Amount] | $[Amount] |
| Net Cash Provided by Operating Activities | $[Amount] | $[Amount] | $[Amount] |
| Cash Flows from Investing Activities: | |||
| Purchases of Property, Plant, and Equipment | $[Amount] | $[Amount] | $[Amount] |
| Acquisitions of Businesses, Net of Cash Acquired | $[Amount] | $[Amount] | $[Amount] |
| Purchases of Intangible Assets | $[Amount] | $[Amount] | $[Amount] |
| Other Investing Activities | $[Amount] | $[Amount] | $[Amount] |
| Net Cash Used in Investing Activities | $[Amount] | $[Amount] | $[Amount] |
| Cash Flows from Financing Activities: | |||
| Proceeds from Issuance of Debt | $[Amount] | $[Amount] | $[Amount] |
| Repayments of Debt | $[Amount] | $[Amount] | $[Amount] |
| Proceeds from Issuance of Stock | $[Amount] | $[Amount] | $[Amount] |
| Repurchases of Stock | $[Amount] | $[Amount] | $[Amount] |
| Dividends Paid | $[Amount] | $[Amount] | $[Amount] |
| Other Financing Activities | $[Amount] | $[Amount] | $[Amount] |
| Net Cash Provided by/(Used in) Financing Activities | $[Amount] | $[Amount] | $[Amount] |
| Net Increase/(Decrease) in Cash and Cash Equivalents | $[Amount] | $[Amount] | $[Amount] |
| Cash and Cash Equivalents at Beginning of Period | $[Amount] | $[Amount] | $[Amount] |
| Cash and Cash Equivalents at End of Period | $[Amount] | $[Amount] | $[Amount] |
Supplementary Financial Information
SELECTED FINANCIAL DATA
The following table presents selected financial data for the five years ended [Latest Year].
| Year | [Year - 4] | [Year - 3] | [Year - 2] | [Year - 1] | [Latest Year] |
|---|---|---|---|---|---|
| Revenue | |||||
| Net Sales | $[Amount] | $[Amount] | $[Amount] | $[Amount] | $[Amount] |
| Gross Profit | $[Amount] | $[Amount] | $[Amount] | $[Amount] | $[Amount] |
| Operating Income | $[Amount] | $[Amount] | $[Amount] | $[Amount] | $[Amount] |
| Net Income | $[Amount] | $[Amount] | $[Amount] | $[Amount] | $[Amount] |
| Earnings Per Share | |||||
| Basic | $[Amount] | $[Amount] | $[Amount] | $[Amount] | $[Amount] |
| Diluted | $[Amount] | $[Amount] | $[Amount] | $[Amount] | $[Amount] |
| Total Assets | $[Amount] | $[Amount] | $[Amount] | $[Amount] | $[Amount] |
| Total Liabilities | $[Amount] | $[Amount] | $[Amount] | $[Amount] | $[Amount] |
| Total Equity | $[Amount] | $[Amount] | $[Amount] | $[Amount] | $[Amount] |
| Cash Flow from Operations | $[Amount] | $[Amount] | $[Amount] | $[Amount] | $[Amount] |
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
Results of Operations
[Year 3] compared to [Year 2]
- Revenue: Revenue increased by $[Amount] million, or [Percentage]%, from $[Amount] million in [Year 2] to $[Amount] million in [Year 3]. This increase was primarily driven by [reasons for revenue increase, e.g., increased sales volume, higher pricing, new product introductions].
- Cost of Revenue: Cost of revenue increased by $[Amount] million, or [Percentage]%, from $[Amount] million in [Year 2] to $[Amount] million in [Year 3]. This increase was generally in line with the increase in revenue, reflecting [reasons for cost of revenue increase, e.g., higher production costs, increased raw material prices].
- Gross Profit: Gross profit increased by $[Amount] million, or [Percentage]%, from $[Amount] million in [Year 2] to $[Amount] million in [Year 3]. Gross profit margin was [Percentage]% in [Year 3], compared to [Percentage]% in [Year 2]. The change in gross profit margin was due to [reasons for change in gross profit margin].
- Operating Expenses: Total operating expenses increased by $[Amount] million, or [Percentage]%, from $[Amount] million in [Year 2] to $[Amount] million in [Year 3].
- Research and Development: R&D expenses increased by $[Amount] million, or [Percentage]%, primarily due to [reasons for R&D increase, e.g., investment in new product development, increased personnel costs].
- Selling, General, and Administrative: SG&A expenses increased by $[Amount] million, or [Percentage]%, driven by [reasons for SG&A increase, e.g., increased marketing and sales efforts, expansion into new markets, higher administrative costs].
- Depreciation and Amortization: Depreciation and amortization expenses were $[Amount] million in [Year 3], compared to $[Amount] million in [Year 2].
- Operating Income: Operating income increased by $[Amount] million, or [Percentage]%, from $[Amount] million in [Year 2] to $[Amount] million in [Year 3], primarily due to the increase in gross profit, partially offset by the increase in operating expenses.
- Other Income/(Expense), Net: Other income/(expense), net, was an expense of $[Amount] million in [Year 3], compared to an expense of $[Amount] million in [Year 2]. This change was due to [reasons for change in other income/expense].
- Income Tax Expense: Income tax expense was $[Amount] million in [Year 3], representing an effective tax rate of [Percentage]%, compared to $[Amount] million in [Year 2], representing an effective tax rate of [Percentage]%. The change in the effective tax rate was primarily due to [reasons for change in effective tax rate].
- Net Income: Net income increased by $[Amount] million, or [Percentage]%, from $[Amount] million in [Year 2] to $[Amount] million in [Year 3].
[Year 2] compared to [Year 1]
- Revenue: Revenue decreased by $[Amount] million, or [Percentage]%, from $[Amount] million in [Year 1] to $[Amount] million in [Year 2]. This decrease was primarily due to [reasons for revenue decrease].
- Cost of Revenue: Cost of revenue decreased by $[Amount] million, or [Percentage]%, from $[Amount] million in [Year 1] to $[Amount] million in [Year 2].
- Gross Profit: Gross profit decreased by $[Amount] million, or [Percentage]%, from $[Amount] million in [Year 1] to $[Amount] million in [Year 2]. Gross profit margin was [Percentage]% in [Year 2], compared to [Percentage]% in [Year 1].
- Operating Expenses: Total operating expenses increased by $[Amount] million, or [Percentage]%, from $[Amount] million in [Year 1] to $[Amount] million in [Year 2].
- Research and Development: R&D expenses decreased by $[Amount] million, or [Percentage]%, due to [reasons for R&D decrease].
- Selling, General, and Administrative: SG&A expenses increased by $[Amount] million, or [Percentage]%, driven by [reasons for SG&A increase].
- Depreciation and Amortization: Depreciation and amortization expenses were $[Amount] million in [Year 2], compared to $[Amount] million in [Year 1].
- Operating Income: Operating income decreased by $[Amount] million, or [Percentage]%, from $[Amount] million in [Year 1] to $[Amount] million in [Year 2].
- Other Income/(Expense), Net: Other income/(expense), net, was an expense of $[Amount] million in [Year 2], compared to an expense of $[Amount] million in [Year 1].
- Income Tax Expense: Income tax expense was $[Amount] million in [Year 2], representing an effective tax rate of [Percentage]%, compared to $[Amount] million in [Year 1], representing an effective tax rate of [Percentage]%.
- Net Income: Net income decreased by $[Amount] million, or [Percentage]%, from $[Amount] million in [Year 1] to $[Amount] million in [Year 2].
Liquidity and Capital Resources
Our primary sources of liquidity have been cash generated from operations, borrowings under our revolving credit facility, and proceeds from the issuance of debt and equity. Our principal uses of cash have been for operating expenses, capital expenditures, debt repayments, and share repurchases.
Cash Flows
- Operating Activities: Net cash provided by operating activities was $[Amount] million in [Year 3], $[Amount] million in [Year 2], and $[Amount] million in [Year 1]. The fluctuations in cash provided by operating activities were primarily due to [reasons for fluctuations].
- Investing Activities: Net cash used in investing activities was $[Amount] million in [Year 3], $[Amount] million in [Year 2], and $[Amount] million in [Year 1]. The primary use of cash in investing activities was for capital expenditures and acquisitions.
- Financing Activities: Net cash provided by/(used in) financing activities was $[Amount] million in [Year 3], $[Amount] million in [Year 2], and $[Amount] million in [Year 1]. This reflects [reasons for cash flows from financing activities, e.g., debt issuance/repayment, stock repurchases].
Capital Expenditures
Our capital expenditures were $[Amount] million in [Year 3], $[Amount] million in [Year 2], and $[Amount] million in [Year 1]. These expenditures were primarily related to [description of capital expenditures, e.g., expansion of manufacturing facilities, investments in new equipment, technology upgrades].
Debt Facilities
As of [Date], the Company had $[Amount] million available for borrowing under its $[Amount] million revolving credit facility. The facility matures on [Date].
Contractual Obligations
As of [Date], our significant contractual obligations included:
| Payment Due | Less than 1 Year | 1-3 Years | 3-5 Years | Greater than 5 Years | Total |
|---|---|---|---|---|---|
| Long-Term Debt | $[Amount] | $[Amount] | $[Amount] | $[Amount] | $[Amount] |
| Operating Leases | $[Amount] | $[Amount] | $[Amount] | $[Amount] | $[Amount] |
| Purchase Obligations | $[Amount] | $[Amount] | $[Amount] | $[Amount] | $[Amount] |
| Other | $[Amount] | $[Amount] | $[Amount] | $[Amount] | $[Amount] |
| Total | $[Amount] | $[Amount] | $[Amount] | $[Amount] | $[Amount] |
Critical Accounting Estimates
[Discussion of critical accounting estimates that involve significant management judgment and uncertainty.]
Off-Balance Sheet Arrangements
[Discussion of any off-balance sheet arrangements.]
SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS
(In Thousands)
| Description | Balance at Beginning of Period | Additions (Charged to Costs & Expenses) | Charges (Write-offs) | Balance at End of Period |
|---|---|---|---|---|
| Allowance for Doubtful Accounts | ||||
| [Year 1] | $[Amount] | $[Amount] | $[Amount] | $[Amount] |
| [Year 2] | $[Amount] | $[Amount] | $[Amount] | $[Amount] |
| [Year 3] | $[Amount] | $[Amount] | $[Amount] | $[Amount] |
| Accumulated Depreciation | ||||
| [Year 1] | $[Amount] | $[Amount] | $[Amount] | $[Amount] |
| [Year 2] | $[Amount] | $[Amount] | $[Amount] | $[Amount] |
| [Year 3] | $[Amount] | $[Amount] | $[Amount] | $[Amount] |
| Accumulated Amortization | ||||
| [Year 1] | $[Amount] | $[Amount] | $[Amount] | $[Amount] |
| [Year 2] | $[Amount] | $[Amount] | $[Amount] | $[Amount] |
| [Year 3] | $[Amount] | $[Amount] | $[Amount] | $[Amount] |
OTHER INFORMATION
The Company may from time to time enter into agreements for the acquisition of other companies. These agreements may contain provisions which require the Company to issue additional shares of its common stock in the future, based on the performance of the acquired businesses. The number of shares potentially issuable under such agreements could be material.
The Company is subject to various other contingencies and commitments, including legal proceedings, guarantees and lease obligations, which are more fully described in the Notes to Consolidated Financial Statements. The Company does not believe that the resolution of these matters will have a material adverse effect on its financial condition or results of operations.
The Company continually evaluates its inventory levels and adjusts production and purchasing accordingly to minimize carrying costs and obsolescence risk. The Company's inventory management practices are designed to ensure adequate product availability while optimizing inventory turns.
The Company's accounting policies are described in the Notes to Consolidated Financial Statements. The preparation of financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates.
EXHIBIT INDEX
The following exhibits are filed as part of this report:
- Exhibit 2.1: Agreement and Plan of Merger, dated [Date], by and among the Company, [Acquisition Target], and [Other Parties].
- Exhibit 3.1: Amended and Restated Certificate of Incorporation of the Company.
- Exhibit 3.2: Amended and Restated Bylaws of the Company.
- Exhibit 10.1: [Description of Material Contract 1].
- Exhibit 10.2: [Description of Material Contract 2].
- Exhibit 12.1: Statement recomputation of earnings per share.
- Exhibit 21.1: Subsidiaries of the Company.
- Exhibit 23.1: Consent of Independent Registered Public Accounting Firm.
- Exhibit 31.1: Certification of Principal Executive Officer.
- Exhibit 31.2: Certification of Principal Financial Officer.
- Exhibit 32.1: Certification of Principal Executive Officer and Principal Financial Officer pursuant to 18 U.S.C. Section 1350.
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
[Company Name]
By: _______________________________
Name: [Name of Authorized Officer]
Title: [Title of Authorized Officer]
Date: [Date]
Pursuant to the requirements of the Securities Exchange Act of 1934, the following persons have signed the annual report on behalf of the Registrant by authority in the capacities and on the dates indicated.
| Name | Title | Signature | Date |
|---|---|---|---|
| [Name of Director 1] | Director | ________________________________ | [Date] |
| [Name of Director 2] | Director | ________________________________ | [Date] |
| [Name of Officer 1] | Chief Executive Officer | ________________________________ | [Date] |
| [Name of Officer 2] | Chief Financial Officer | ________________________________ | [Date] |
| [Name of Officer 3] | [Title] | ________________________________ | [Date] |
***# FORM 10-K
PART I
ITEM 1. BUSINESS
General Development of Business
Included in the accompanying consolidated financial statements as exhibits are the audited consolidated financial statements of Verint Systems Inc. ("Verint," the "Company," "we," "us" or "our") and its consolidated subsidiaries as of January 31, 2023 and January 31, 2022, and for each of the three years in the period ended January 31, 2023, together with the report of PricewaterhouseCoopers LLP. This Annual Report on Form 10-K includes information that incorporates by reference certain information from Verint’s proxy statement for its 2023 annual meeting of stockholders.
We are a global leader in Actionable Intelligence® solutions that help organizations achieve the customer-commitment imperative. Our solutions enable our customers to capture, analyze, and act on the customer interactions and contextual information that are the lifeblood of their businesses. Our enterprise customers use our solutions to enhance the customer experience, improve operational efficiency, and ensure compliance.
Products and Services
Our solutions are designed to help organizations improve customer service, enhance workforce optimization, and ensure compliance. We organize our offerings into two reporting segments: Customer Engagement Solutions and Cyber Security Solutions.
Customer Engagement Solutions
Our Customer Engagement Solutions segment helps organizations of all sizes to manage and optimize their customer interactions. These solutions enable businesses to deliver superior customer service, increase agent productivity, and gain valuable insights into customer behavior. Key components of our Customer Engagement Solutions include:
- Workforce Optimization (WFO): This suite of solutions helps organizations manage their contact center workforce more effectively. It includes:
- Quality Management: Tools for recording, scoring, and coaching agent interactions to ensure quality and compliance.
- Workforce Management (WFM): Solutions for forecasting call volume, scheduling agents, and managing employee performance to optimize staffing levels and reduce costs.
- Performance Management: Dashboards and analytics to track agent and team performance against key metrics.
- Recording Solutions: Comprehensive recording of voice, screen, and chat interactions for compliance, quality assurance, and dispute resolution.
- Speech and Text Analytics: Advanced analytics to extract insights from customer interactions, identify trends, and detect sentiment.
- Interaction Process Automation: Solutions to automate repetitive tasks and streamline workflows within the contact center.
- Customer Self-Service: Tools that empower customers to find answers and resolve issues through self-service channels, such as interactive voice response (IVR) systems, chatbots, and knowledge bases.
- Engagement Management: Solutions that help manage the entire lifecycle of customer engagement, including customer journey mapping, omni-channel engagement, and personalized customer communications.
- Analytics and Insights: Advanced analytics and reporting capabilities to provide a comprehensive view of customer interactions, identify opportunities for improvement, and drive business decisions.
Cyber Security Solutions
Our Cyber Security Solutions segment provides advanced threat intelligence and cybersecurity solutions to protect organizations from sophisticated cyber threats. These solutions help customers detect, investigate, and respond to cyberattacks, safeguarding their critical data and infrastructure. Key offerings include:
- Threat Intelligence: Real-time threat intelligence feeds and analytics to identify and prioritize emerging threats.
- Security Information and Event Management (SIEM): Solutions that collect and analyze security events from various sources to detect and respond to security incidents.
- Endpoint Detection and Response (EDR): Tools for detecting and responding to advanced threats on endpoints.
- Network Security: Solutions for protecting network infrastructure from cyber threats.
- Data Security: Capabilities to protect sensitive data from unauthorized access and breaches.
- Fraud Detection and Prevention: Solutions to identify and prevent fraudulent activities.
Market and Competition
We operate in a highly competitive global market for customer engagement and cybersecurity solutions. Our competitors include both large, diversified technology companies and smaller, specialized vendors. The market is characterized by rapid technological change, increasing customer expectations, and a growing demand for solutions that can deliver actionable insights and improve business outcomes.
Our primary competitors in the Customer Engagement Solutions market include, but are not limited to, NICE Ltd., Five9, Inc., Genesys Telecommunications Laboratories, Inc., Salesforce.com, Inc., ServiceNow, Inc., and Microsoft Corporation.
Our primary competitors in the Cyber Security Solutions market include, but are not limited to, Palo Alto Networks, Inc., Fortinet, Inc., CrowdStrike Holdings, Inc., Splunk Inc., IBM Corporation, and Broadcom Inc.
We believe that our competitive strengths include:
- Comprehensive and Integrated Solutions: Our ability to offer a broad suite of integrated solutions that address the complex needs of our customers.
- Actionable Intelligence®: Our focus on providing solutions that deliver actionable insights, enabling customers to make better decisions and achieve tangible business results.
- Strong Customer Relationships: Our long-standing relationships with a large and diverse customer base, including many Fortune 500 companies.
- Innovation and Technology Leadership: Our commitment to research and development, resulting in innovative solutions and a strong intellectual property portfolio.
- Global Presence and Support: Our ability to serve customers worldwide with a global sales and support organization.
Research and Development
We are committed to investing in research and development to maintain our technological leadership and to develop new products and services that meet the evolving needs of our customers. Our R&D efforts are focused on areas such as artificial intelligence, machine learning, cloud computing, big data analytics, and cybersecurity technologies. We collaborate with industry partners and academic institutions to stay at the forefront of innovation.
Our R&D expenses were \$230.3 million, \$213.1 million, and \$191.5 million for the fiscal years ended January 31, 2023, 2022, and 2021, respectively.
Intellectual Property
We consider our intellectual property portfolio, including patents, copyrights, trademarks, and trade secrets, to be a significant asset. We hold numerous patents related to our software and services, and we continuously seek to protect our innovations through patent applications and other intellectual property measures. Our trademarks are important to our brand identity and market recognition.
Sales and Marketing
Our sales and marketing efforts are organized to reach customers across various industries and geographies. We employ a direct sales force, as well as channel partners and resellers, to market and sell our solutions. Our sales teams are structured by industry and customer segment to provide specialized expertise and tailored solutions. We also invest in marketing activities, including online advertising, content marketing, trade shows, and customer events, to generate leads and build brand awareness.
Employees
As of January 31, 2023, we had approximately 12,750 employees worldwide. Our employees are located in various countries, with a significant presence in North America, Europe, and Asia Pacific. We believe that our employees are a key factor in our success, and we strive to foster a culture of innovation, collaboration, and customer focus.
Available Information
We make available on our investor relations website, www.verint.com/investors, free of charge, our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and all amendments to those reports, as soon as reasonably practicable after we electronically file such material with the U.S. Securities and Exchange Commission (the "SEC"). Our investor relations website is not incorporated by reference into this Annual Report on Form 10-K. We also make available on our investor relations website our Corporate Governance Guidelines, Code of Ethics, and the charters of our Audit, Compensation, and Nominating and Corporate Governance Committees.
ITEM 1A. RISK FACTORS
Investing in our securities involves a high degree of risk. You should carefully consider the following risk factors, in addition to the other information set forth in this Annual Report on Form 10-K, including our consolidated financial statements and the related notes, before making an investment decision. The risks described below are not the only risks facing our Company. Additional risks and uncertainties not presently known to us or that we currently deem immaterial may also impair our business, operations, financial condition, results of operations, and prospects.
Risks Related to Our Business and Operations
-
We operate in highly competitive markets and face intense competition, which could adversely affect our business and results of operations.
The markets for our customer engagement and cybersecurity solutions are highly competitive and rapidly evolving. We compete with a wide range of companies, including established technology providers, niche players, and emerging companies. Many of our competitors have greater financial resources, broader product portfolios, and more extensive sales and marketing capabilities than we do. We may not be able to compete effectively, and our inability to compete may result in price reductions, reduced profit margins, loss of market share, and decreased revenue. Furthermore, the competitive landscape is constantly changing due to new entrants, mergers and acquisitions, and technological advancements, which could disrupt our market position. -
Our success depends on our ability to develop and introduce new products and services, and to enhance our existing offerings, in a timely manner.
The markets for our solutions are characterized by rapid technological change and evolving customer needs. We must continually innovate and invest in research and development to introduce new products and services and enhance our existing offerings. If we fail to develop and launch new products and services that meet market demand, or if our existing products and services become outdated or less competitive, our business, financial condition, and results of operations could be materially and adversely affected. Delays in product development or commercialization could also harm our competitive position and future revenue prospects. -
We derive a significant portion of our revenue from a relatively small number of customers, and the loss of any of these customers could have a material adverse effect on our business and results of operations.
We have a concentrated customer base, and a significant portion of our revenue is derived from a limited number of large enterprise customers. The loss of any one or more of these key customers, or a reduction in their spending, could have a material adverse effect on our revenue, profitability, and financial condition. Our customer contracts are typically for a fixed term, and there is no assurance that we will be able to renew these contracts on favorable terms, or at all, upon their expiration. -
We face risks related to our reliance on cloud-based delivery models and the associated infrastructure.
We increasingly deliver our solutions through cloud-based platforms. Our ability to successfully deliver these solutions depends on the reliability and performance of our own infrastructure and that of third-party cloud providers. Any disruption to these services, including service outages, security breaches, or performance issues, could result in loss of revenue, damage to our reputation, and increased costs. We also face risks associated with data privacy and security regulations in various jurisdictions where our cloud services operate. -
We are subject to extensive and evolving laws and regulations, including data privacy and cybersecurity regulations, which could increase our compliance costs and adversely affect our business.
We are subject to a wide range of laws and regulations in the jurisdictions where we operate, including those related to data privacy (such as the GDPR and CCPA), cybersecurity, export controls, and anti-corruption. Compliance with these regulations can be costly and complex. Changes in these laws or regulations, or the imposition of new ones, could increase our compliance costs, restrict our ability to process data, or otherwise adversely affect our business operations, products, and services. Failure to comply with these regulations could result in significant fines, penalties, and reputational damage. -
We rely on third-party software, hardware, and services, and any disruption in their availability or performance could adversely affect our business.
We incorporate third-party software, hardware, and services into our products and solutions. The unavailability or poor performance of these third-party components could disrupt our operations, delay product development, and harm our reputation. We may not be able to find suitable replacements for any third-party components that are discontinued or become unavailable on commercially reasonable terms. -
Changes in the market for cloud-based software and services, including increased competition and pricing pressures, could adversely affect our business.
The market for cloud-based software and services is highly dynamic and subject to intense competition and pricing pressures. If the demand for cloud-based solutions decreases, or if our competitors offer similar solutions at lower prices, our revenue and profitability could be adversely affected. We may also face challenges in adapting our business models to evolving market trends and customer preferences for cloud-based offerings. -
We may be subject to claims of infringement of intellectual property rights, which could be costly and disrupt our business.
We may face claims from third parties alleging that our products or services infringe their intellectual property rights. Litigation to defend against such claims can be time-consuming and expensive, and if we are unsuccessful, we may be required to pay significant damages, obtain licenses to use the intellectual property, or redesign our products and services, which could disrupt our business and adversely affect our results of operations. -
Global economic conditions could adversely affect our business and results of operations.
Our business is subject to global economic conditions. A significant downturn in the global economy or in the specific industries we serve could reduce demand for our products and services, lengthen our sales cycles, and adversely affect our revenue, profitability, and cash flows. Economic uncertainty can also lead customers to delay or reduce their spending on technology solutions. -
We may not be able to attract and retain skilled personnel, which could impair our ability to develop and deliver our products and services.
Our success depends on our ability to attract, retain, and motivate highly skilled employees, particularly in areas such as software development, engineering, sales, and cybersecurity. Competition for these skilled professionals is intense. If we are unable to attract and retain such personnel, our ability to develop and deliver our products and services could be impaired, and our business and results of operations could be adversely affected. -
We may face risks associated with acquisitions and divestitures.
We have made and may continue to make strategic acquisitions or divestitures. Acquisitions involve risks, including the inability to integrate acquired businesses successfully, the assumption of unforeseen liabilities, and the potential diversion of management's attention from our core business. Divestitures may result in the recognition of losses and may not achieve the intended strategic or financial benefits. -
We are subject to risks related to international operations.
A significant portion of our revenue is generated from international sales. Our international operations are subject to various risks, including currency fluctuations, political and economic instability, changes in foreign laws and regulations, and difficulties in managing geographically dispersed operations. These risks could adversely affect our international revenue, profitability, and overall business. -
Our business is subject to risks related to pandemics, epidemics, or other widespread public health crises.
Pandemics, epidemics, or other widespread public health crises, such as the recent COVID-19 pandemic, can have significant adverse effects on our business, operations, and financial results. Such events can disrupt supply chains, impact employee productivity, affect customer demand, and necessitate changes to our sales and marketing strategies. The duration and severity of any such crises and their impact on our business are uncertain. -
Natural disasters and other catastrophic events could disrupt our operations.
We are vulnerable to natural disasters, acts of terrorism, and other catastrophic events that could disrupt our operations, damage our facilities, or impact our employees. The occurrence of such events could have a material adverse effect on our business, financial condition, and results of operations.
Risks Related to Our Financial Condition and Capital Resources
-
Fluctuations in foreign currency exchange rates could adversely affect our financial results.
We generate a significant portion of our revenue and incur expenses in foreign currencies. Fluctuations in foreign currency exchange rates can adversely affect our reported revenue, expenses, and profits when translated into U.S. dollars. While we may engage in hedging activities to mitigate some of this risk, we cannot assure you that these activities will be effective or that we will be able to fully offset any adverse currency movements. -
We may require additional capital in the future and may not be able to obtain it on favorable terms, or at all.
While we believe that our existing cash, cash equivalents, and our ability to generate cash from operations will be sufficient to meet our ongoing operating needs and capital expenditures for the foreseeable future, we may require additional capital for strategic acquisitions, research and development, or other corporate purposes. We may not be able to obtain any required additional capital on favorable terms, or at all, which could limit our ability to pursue our business objectives.
Risks Related to Our Securities
-
The market price of our common stock may be volatile, and you may not be able to resell your shares at or above the purchase price.
The market for our common stock is subject to volatility. The trading price of our common stock may fluctuate significantly due to a variety of factors, including our financial results, announcements of new products or services, competitive developments, macroeconomic trends, and overall market conditions. You may not be able to resell your shares at or above the purchase price. -
We do not currently intend to pay dividends on our common stock, and you may not receive any return on your investment unless the market price of our common stock increases.
We have not paid dividends on our common stock in the past and do not currently intend to pay dividends. Our ability to pay dividends in the future may be restricted by our credit facilities and other agreements. Therefore, you may not receive any return on your investment in our common stock unless you sell your shares at a price greater than your purchase price. -
Provisions of our charter documents and Delaware law could deter a takeover attempt, which could affect the market price of our common stock.
Our certificate of incorporation and bylaws contain provisions that could discourage a potential takeover of our Company. These provisions, combined with provisions of Delaware law, could make it more difficult for a third party to acquire control of our Company, even if such a transaction would be beneficial to our stockholders. This could affect the market price of our common stock.
ITEM 1B. UNRESOLVED STAFF COMMENTS
None.
ITEM 2. PROPERTIES
Our corporate headquarters are located in San Mateo, California. We also maintain significant office facilities in various locations across the United States and internationally, including but not limited to Canada, the United Kingdom, Israel, Australia, Germany, and India. Our facilities are used for research and development, sales and marketing, customer support, and administrative functions. We believe that our facilities are adequate to meet our current needs and that we will be able to obtain additional space on commercially reasonable terms as needed.
ITEM 3. LEGAL PROCEEDINGS
We are involved in various legal proceedings and claims arising in the ordinary course of our business. While we believe that the outcome of these proceedings, individually or in the aggregate, will not have a material adverse effect on our financial condition or results of operations, litigation is inherently uncertain, and we may not prevail in any or all of these matters.
ITEM 4. MINE SAFETY DISCLOSURES
Not applicable.
PART II
ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
Our common stock is traded on the NASDAQ Global Select Market under the symbol "VRNT."
The following table sets forth the range of high and low sales prices for our common stock for the fiscal quarters indicated:
| Fiscal Quarter Ended | High | Low |
|---|---|---|
| May 31, 2022 | \$37.31 | \$28.55 |
| August 31, 2022 | \$30.39 | \$23.98 |
| November 30, 2022 | \$28.57 | \$21.77 |
| January 31, 2023 | \$25.70 | \$21.71 |
| May 31, 2021 | \$50.05 | \$42.28 |
| August 31, 2021 | \$53.23 | \$45.82 |
| November 30, 2021 | \$51.63 | \$42.04 |
| January 31, 2022 | \$46.45 | \$38.96 |
As of February 28, 2023, there were 48,650,744 shares of our common stock outstanding, held by approximately 524 stockholders of record. This number does not include shares held in nominee or "street name" by brokerage firms or clearing agencies on behalf of beneficial owners.
Dividends
We have never declared or paid cash dividends on our common stock. We currently intend to retain any future earnings to support the growth and development of our business. Our credit agreements contain covenants that restrict our ability to pay dividends.
Stock Performance Graph
The following graph compares the cumulative total return on our common stock with the cumulative total return of the S&P 500 Index and the NASDAQ Composite Index for the period commencing January 31, 2018, and ending January 31, 2023.
The graph assumes that an initial investment of \$100 in our common stock and in each of the indices listed is made at the beginning of the measurement period. It further assumes that all dividends are reinvested.
WYTWTYWT T
ITEM 6. RESERVED
ITEM 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
Overview
Verint Systems Inc. ("Verint," the "Company," "we," "us" or "our") is a global leader in Actionable Intelligence® solutions that help organizations achieve the customer-commitment imperative. Our solutions enable our customers to capture, analyze, and act on the customer interactions and contextual information that are the lifeblood of their businesses. Our enterprise customers use our solutions to enhance the customer experience, improve operational efficiency, and ensure compliance. We offer our solutions on a term license basis and a subscription basis, and we provide professional services, primarily related to the implementation of our solutions.
We have two reporting segments: Customer Engagement Solutions and Cyber Security Solutions.
Our Customer Engagement Solutions segment provides a comprehensive suite of offerings designed to help organizations manage and optimize their customer interactions. This segment is further comprised of our Workforce Optimization (WFO) solutions, which include quality management, workforce management, performance management, and recording solutions; our Customer Self-Service solutions, which provide interactive voice response (IVR) and chatbot capabilities; and our Engagement Management solutions, which help organizations manage customer journeys and personalize communications.
Our Cyber Security Solutions segment provides advanced threat intelligence and cybersecurity solutions to protect organizations from sophisticated cyber threats. This segment includes offerings such as security information and event management (SIEM), endpoint detection and response (EDR), and network security solutions.
Our financial results are influenced by a number of factors, including the mix of our revenue between term license and subscription offerings, the pace of technological innovation, the overall economic environment, the success of our sales and marketing efforts, and our ability to manage our operating expenses.
Recent Developments
On November 1, 2022, Verint completed the divestiture of its Cloud Data Intelligence business (the "Cloud Data Intelligence Business") to an affiliate of Cloud Information Security, Inc. for \$27.0 million in cash. The Cloud Data Intelligence Business was part of our Cyber Security Solutions segment. The divestiture allows us to sharpen our focus on our core Actionable Intelligence offerings, particularly in customer engagement. The results of operations and the assets and liabilities of the Cloud Data Intelligence Business have been reclassified as discontinued operations for all periods presented.
Critical Accounting Policies and Estimates
Our consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles ("GAAP"). The preparation of these financial statements requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue, and expenses. We believe that the following accounting policies are critical to the preparation of our consolidated financial statements, as they involve significant judgments and estimates.
Revenue Recognition
Revenue is recognized when (or as) control is transferred to the customer in an amount that reflects the consideration to which we expect to be entitled in exchange for those goods or services. We have entered into contracts that may include multiple performance obligations. We determine distinct performance obligations by considering whether the promises to transfer goods or services to the customer are separately identifiable from other promises in the contract.
Our revenue is primarily derived from the following sources:
* Software Licenses: We recognize revenue from term licenses upon delivery of the software, as control typically transfers at that point.
* Subscription Services: Revenue from subscription services, which typically include term licenses and associated maintenance and support, is recognized ratably over the subscription term.
* Maintenance and Support Services: Revenue from maintenance and support services, which are typically provided under multi-year contracts, is recognized ratably over the term of the contract.
* Professional Services: Revenue from professional services, which include implementation, configuration, and training services, is recognized as the services are performed, based on the terms of the contracts.
We evaluate the collectibility of accounts receivable and provide an allowance for doubtful accounts based on historical collection experience and other known factors.
Business Combinations
We account for business combinations using the acquisition method of accounting. Under this method, the purchase price of an acquired business is allocated to the assets acquired and liabilities assumed based on their estimated fair values at the acquisition date. The excess of the purchase price over the fair value of the net identifiable assets acquired is recorded as goodwill.
Valuation of Goodwill and Intangible Assets
Goodwill and other intangible assets with indefinite useful lives are tested for impairment at least annually, or more frequently if events or changes in circumstances indicate that their carrying amount may not be recoverable. Intangible assets with finite useful lives are amortized over their estimated useful lives. Impairment charges, if any, could have a material adverse effect on our financial condition and results of operations.
Stock-Based Compensation
We account for stock-based compensation awards issued to employees and directors using the fair value method. The estimated fair value of stock options and restricted stock awards is determined at the date of grant and recognized as compensation expense over the requisite service period. The determination of fair value involves significant estimates and assumptions, including expected term, expected volatility, and risk-free interest rates.
Income Taxes
We record income taxes based on the asset and liability method. Deferred tax assets and liabilities are recognized for the expected future tax consequences of events that have been recognized in our financial statements or tax returns. Deferred tax assets are reduced by a valuation allowance if, based on the weight of available evidence, it is more likely than not that some portion of the deferred tax asset will not be realized.
Contingencies
We accrue for loss contingencies when it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. We continually assess our legal and regulatory matters to determine if accruals are necessary and to estimate the potential range of outcomes.
Consolidated Statements of Operations
The following table presents our consolidated statements of operations data for the years ended January 31, 2023, 2022, and 2021.
| Year Ended January 31, 2023 | Year Ended January 31, 2022 | Year Ended January 31, 2021 | |
|---|---|---|---|
| Revenue: | |||
| Software licenses | \$182,405 | \$207,264 | \$268,786 |
| Subscription services | \$1,043,582 | \$898,199 | \$712,970 |
| Maintenance and support services | \$255,088 | \$222,383 | \$190,626 |
| Professional services | \$149,265 | \$138,276 | \$117,157 |
| Total revenue | \$1,630,340 | \$1,466,122 | \$1,289,539 |
| Cost of revenue: | |||
| Software licenses | \$24,535 | \$30,368 | \$40,385 |
| Subscription services | \$306,938 | \$264,687 | \$213,272 |
| Maintenance and support services | \$90,338 | \$79,428 | \$68,508 |
| Professional services | \$119,820 | \$108,848 | \$95,816 |
| Total cost of revenue | \$541,631 | \$483,331 | \$417,981 |
| Gross profit | \$1,088,709 | \$982,791 | \$871,558 |
| Operating expenses: | |||
| Research and development | \$230,332 | \$213,122 | \$191,520 |
| Sales and marketing | \$516,387 | \$489,637 | \$433,938 |
| General and administrative | \$144,385 | \$130,347 | \$111,554 |
| Total operating expenses | \$891,104 | \$833,106 | \$737,012 |
| Operating income | \$197,605 | \$149,685 | \$134,546 |
| Interest expense, net | \$11,248 | \$13,980 | \$18,024 |
| Other income (expense), net | \$2,804 | \$4,515 | \$4,529 |
| Income before income taxes | \$189,161 | \$140,220 | \$121,051 |
| Income tax expense | \$19,934 | \$26,297 | \$25,014 |
| Income before income taxes from continuing operations | \$169,227 | \$113,923 | \$96,037 |
| Income (loss) from discontinued operations, net of income taxes | \$6,994 | \$2,522 | \$(1,173) |
| Net income | \$176,221 | \$116,445 | \$94,864 |
| Net income attributable to Verint Systems Inc. | \$176,221 | \$116,445 | \$94,864 |
| Earnings per share attributable to Verint Systems Inc. common stockholders: | |||
| Basic | \$4.13 | \$2.73 | \$2.23 |
| Diluted | \$4.10 | \$2.71 | \$2.21 |
Results of Operations
Year Ended January 31, 2023 Compared to Year Ended January 31, 2022
Revenue: Total revenue increased by \$164.2 million, or 11.2%, to \$1,630.3 million for the year ended January 31, 2023, compared to \$1,466.1 million for the year ended January 31, 2022. The increase was primarily driven by growth in our Subscription services revenue, which increased by \$145.4 million, or 16.2%, reflecting the continued shift to subscription-based offerings and strong demand for our cloud-based solutions. Revenue from Maintenance and support services increased by \$32.7 million, or 14.7%, consistent with the growth in our installed base of subscription and term license customers. Professional services revenue increased by \$11.0 million, or 7.9%, reflecting increased customer adoption and implementation of our solutions. Software licenses revenue decreased by \$25.1 million, or 12.1%, as we continue to transition our business model towards subscription services.
Cost of Revenue: Total cost of revenue increased by \$58.3 million, or 12.1%, to \$541.6 million for the year ended January 31, 2023, compared to \$483.3 million for the year ended January 31, 2022. The increase was primarily due to higher costs associated with delivering our subscription services, including cloud infrastructure costs, and increased personnel costs related to customer support and professional services. As a percentage of total revenue, cost of revenue increased from 32.9% to 33.2%.
Gross Profit: Gross profit increased by \$105.9 million, or 10.8%, to \$1,088.7 million for the year ended January 31, 2023, compared to \$982.8 million for the year ended January 31, 2022. Gross profit margin remained relatively stable at 66.8% for the year ended January 31, 2023, compared to 67.0% for the year ended January 31, 2022.
Operating Expenses:
* Research and Development: Research and development expenses increased by \$17.2 million, or 8.1%, to \$230.3 million for the year ended January 31, 2023, compared to \$213.1 million for the year ended January 31, 2022. The increase reflects our continued investment in developing new products and enhancing our existing solutions, particularly in areas such as artificial intelligence and cloud technologies.
* Sales and Marketing: Sales and marketing expenses increased by \$26.7 million, or 5.4%, to \$516.4 million for the year ended January 31, 2023, compared to \$489.6 million for the year ended January 31, 2022. The increase was primarily due to higher personnel costs associated with our sales force expansion and increased investments in marketing programs to support revenue growth.
* General and Administrative: General and administrative expenses increased by \$14.0 million, or 10.7%, to \$144.4 million for the year ended January 31, 2023, compared to \$130.3 million for the year ended January 31, 2022. The increase was primarily due to higher personnel costs and investments in our IT infrastructure and corporate systems.
Operating Income: Operating income increased by \$47.9 million, or 32.0%, to \$197.6 million for the year ended January 31, 2023, compared to \$149.7 million for the year ended January 31, 2022. The increase reflects the strong growth in revenue, partially offset by increased operating expenses. Operating margin improved to 12.1% from 10.2%.
Interest Expense, Net: Net interest expense decreased by \$2.7 million, or 19.7%, to \$11.2 million for the year ended January 31, 2023, compared to \$14.0 million for the year ended January 31, 2022. The decrease was primarily due to lower outstanding debt balances.
Other Income (Expense), Net: Other income, net, decreased by \$1.7 million to \$2.8 million for the year ended January 31, 2023, compared to \$4.5 million for the year ended January 31, 2022. The change was primarily due to lower interest income earned on our investments.
Income Tax Expense: Income tax expense decreased by \$6.4 million, or 24.2%, to \$19.9 million for the year ended January 31, 2023, compared to \$26.3 million for the year ended January 31, 2022. The decrease was primarily due to lower pre-tax income from continuing operations and changes in the effective tax rate.
Income (Loss) from Discontinued Operations: Income from discontinued operations, net of taxes, increased by \$4.5 million to \$7.0 million for the year ended January 31, 2023, compared to \$2.5 million for the year ended January 31, 2022. This reflects the results of the Cloud Data Intelligence Business for the period prior to its divestiture.
Net Income: Net income increased by \$59.8 million, or 51.4%, to \$176.2 million for the year ended January 31, 2023, compared to \$116.4 million for the year ended January 31, 2022. Diluted earnings per share increased by \$1.39, or 51.3%, to \$4.10 from \$2.71.
Year Ended January 31, 2022 Compared to Year Ended January 31, 2021
Revenue: Total revenue increased by \$176.6 million, or 13.7%, to \$1,466.1 million for the year ended January 31, 2022, compared to \$1,289.5 million for the year ended January 31, 2021. The increase was primarily driven by growth in our Subscription services revenue, which increased by \$185.2 million, or 26.0%, reflecting the continued shift to subscription-based offerings and strong demand for our cloud-based solutions. Revenue from Maintenance and support services increased by \$31.8 million, or 16.7%, consistent with the growth in our installed base of subscription and term license customers. Professional services revenue increased by \$21.1 million, or 18.0%, reflecting increased customer adoption and implementation of our solutions. Software licenses revenue decreased by \$61.5 million, or 22.9%, as we continue to transition our business model towards subscription services.
Cost of Revenue: Total cost of revenue increased by \$65.3 million, or 15.6%, to \$483.3 million for the year ended January 31, 2022, compared to \$418.0 million for the year ended January 31, 2021. The increase was primarily due to higher costs associated with delivering our subscription services, including cloud infrastructure costs, and increased personnel costs related to customer support and professional services. As a percentage of total revenue, cost of revenue increased from 32.4% to 32.9%.
Gross Profit: Gross profit increased by \$111.2 million, or 12.8%, to \$982.8 million for the year ended January 31, 2022, compared to \$871.6 million for the year ended January 31, 2021. Gross profit margin decreased to 67.0% from 67.6%.
Operating Expenses:
* Research and Development: Research and development expenses increased by \$21.6 million, or 11.3%, to \$213.1 million for the year ended January 31, 2022, compared to \$191.5 million for the year ended January 31, 2021. The increase reflects our continued investment in developing new products and enhancing our existing solutions, particularly in areas such as artificial intelligence and cloud technologies.
* Sales and Marketing: Sales and marketing expenses increased by \$55.7 million, or 12.8%, to \$489.6 million for the year ended January 31, 2022, compared to \$433.9 million for the year ended January 31, 2021. The increase was primarily due to higher personnel costs associated with our sales force expansion and increased investments in marketing programs to support revenue growth.
* General and Administrative: General and administrative expenses increased by \$18.8 million, or 16.8%, to \$130.3 million for the year ended January 31, 2022, compared to \$111.6 million for the year ended January 31, 2021. The increase was primarily due to higher personnel costs and investments in our IT infrastructure and corporate systems.
Operating Income: Operating income increased by \$15.1 million, or 11.2%, to \$149.7 million for the year ended January 31, 2022, compared to \$134.5 million for the year ended January 31, 2021. The increase reflects the strong growth in revenue, partially offset by increased operating expenses. Operating margin decreased to 10.2% from 10.4%.
Interest Expense, Net: Net interest expense decreased by \$4.0 million, or 22.4%, to \$14.0 million for the year ended January 31, 2022, compared to \$18.0 million for the year ended January 31, 2021. The decrease was primarily due to lower outstanding debt balances.
Other Income (Expense), Net: Other income, net, was \$4.5 million for the year ended January 31, 2022, compared to \$4.5 million for the year ended January 31, 2021.
Income Tax Expense: Income tax expense increased by \$1.3 million, or 5.2%, to \$26.3 million for the year ended January 31, 2022, compared to \$25.0 million for the year ended January 31, 2021. The increase was primarily due to higher pre-tax income from continuing operations, partially offset by a decrease in the effective tax rate.
Income (Loss) from Discontinued Operations: Loss from discontinued operations, net of taxes, decreased by \$1.2 million to income of \$2.5 million for the year ended January 31, 2022, compared to a loss of \$1.2 million for the year ended January 31, 2021. This reflects the results of the Cloud Data Intelligence Business for the period prior to its divestiture.
Net Income: Net income increased by \$21.6 million, or 22.7%, to \$116.4 million for the year ended January 31, 2022, compared to \$94.9 million for the year ended January 31, 2021. Diluted earnings per share increased by \$0.50, or 22.6%, to \$2.71 from \$2.21.
Liquidity and Capital Resources
We have historically funded our operations, capital expenditures, and acquisitions through a combination of cash generated from operations, existing cash balances, and borrowings under our credit facilities.
Cash Flows
The following table summarizes our cash flows for the years ended January 31, 2023, 2022, and 2021:
| Year Ended January 31, 2023 | Year Ended January 31, 2022 | Year Ended January 31, 2021 | |
|---|---|---|---|
| Net cash provided by operating activities | \$354,676 | \$289,745 | \$260,019 |
| Net cash used in investing activities | \$(33,076) | \$(40,637) | \$(65,419) |
| Net cash provided by (used in) financing activities | \$10,770 | \$(72,674) | \$(50,190) |
| Effect of exchange rate changes on cash and cash equivalents | \$1,242 | \$3,190 | \$2,667 |
| Net increase (decrease) in cash and cash equivalents | \$333,612 | \$180,024 | \$147,077 |
| Cash and cash equivalents at beginning of period | \$511,853 | \$331,829 | \$184,752 |
| Cash and cash equivalents at end of period | \$845,465 | \$511,853 | \$331,829 |
Operating Activities: Net cash provided by operating activities was \$354.7 million for the year ended January 31, 2023, an increase of \$64.9 million, or 22.4%, compared to \$289.7 million for the year ended January 31, 2022. The increase was primarily driven by higher net income and favorable changes in working capital.
Net cash provided by operating activities was \$289.7 million for the year ended January 31, 2022, an increase of \$29.7 million, or 11.4%, compared to \$260.0 million for the year ended January 31, 2021. The increase was primarily driven by higher net income and favorable changes in working capital.
Investing Activities: Net cash used in investing activities was \$33.1 million for the year ended January 31, 2023, a decrease of \$7.6 million, or 18.6%, compared to \$40.6 million for the year ended January 31, 2022. The decrease was primarily due to lower capital expenditures for property and equipment and lower purchases of marketable securities.
Net cash used in investing activities was \$40.6 million for the year ended January 31, 2022, a decrease of \$24.8 million, or 37.9%, compared to \$65.4 million for the year ended January 31, 2021. The decrease was primarily due to lower capital expenditures for property and equipment and lower purchases of marketable securities.
Financing Activities: Net cash provided by financing activities was \$10.8 million for the year ended January 31, 2023. This included \$27.0 million from the divestiture of the Cloud Data Intelligence Business, partially offset by \$13.1 million used for the repurchase of common stock and \$3.2 million for debt repayments.
Net cash used in financing activities was \$72.7 million for the year ended January 31, 2022. This included \$50.0 million for the repurchase of common stock and \$21.9 million for debt repayments.
Net cash used in financing activities was \$50.2 million for the year ended January 31, 2021. This included \$37.8 million for the repurchase of common stock and \$14.5 million for debt repayments.
Indebtedness
As of January 31, 2023, we had \$57.2 million in outstanding indebtedness under our revolving credit facility. Our revolving credit facility also includes an accordion feature that allows us to increase the borrowing capacity up to \$500.0 million, subject to certain conditions.
Contractual Obligations
Our future contractual obligations as of January 31, 2023, are summarized in the following table:
| Payment Due By | Total | Less than 1 year | 1-3 years | 3-5 years | Greater than 5 years |
|---|---|---|---|---|---|
| Debt | \$57,170 | \$13,170 | \$44,000 | \$0 | \$0 |
| Lease obligations | \$225,434 | \$68,333 | \$110,345 | \$34,212 | \$12,544 |
| Total | \$282,604 | \$81,503 | \$154,345 | \$34,212 | \$12,544 |
This table does not include potential future obligations related to our stock-based compensation plans or uncertain tax positions.
Off-Balance Sheet Arrangements
We do not have any off-balance sheet arrangements that are reasonably likely to have a material current or future effect on our financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources.
Inflation
We do not believe that inflation has had a material impact on our financial results to date. However, we cannot predict the extent to which future inflation may affect our operating costs and financial performance.
Quantitative and Qualitative Disclosures About Market Risk
We are exposed to market risks, including fluctuations in foreign currency exchange rates and interest rates.
Foreign Currency Exchange Rate Risk
We generate a significant portion of our revenue and incur expenses in foreign currencies. Fluctuations in foreign currency exchange rates can adversely affect our reported revenue, expenses, and profits when translated into U.S. dollars. We monitor our exposure to foreign currency fluctuations and may enter into hedging transactions, such as forward contracts, to mitigate this risk.
Interest Rate Risk
We are exposed to interest rate risk related to our outstanding indebtedness. Changes in interest rates could affect our interest expense. We manage our exposure to interest rate fluctuations through our overall debt management strategy.
ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
We are exposed to market risks, including fluctuations in foreign currency exchange rates and interest rates.
Foreign Currency Exchange Rate Risk
We generate a significant portion of our revenue and incur expenses in foreign currencies. Fluctuations in foreign currency exchange rates can adversely affect our reported revenue, expenses, and profits when translated into U.S. dollars. We monitor our exposure to foreign currency fluctuations and may enter into hedging transactions, such as forward contracts, to mitigate this risk.
Interest Rate Risk
We are exposed to interest rate risk related to our outstanding indebtedness. Changes in interest rates could affect our interest expense. We manage our exposure to interest rate fluctuations through our overall debt management strategy.
ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
The following consolidated financial statements and supplementary data are filed as part of this Annual Report on Form 10-K:
- Report of Independent Registered Public Accounting Firm
- Consolidated Balance Sheets as of January 31, 2023 and 2022
- Consolidated Statements of Operations for the years ended January 31, 2023, 2022, and 2021
- Consolidated Statements of Comprehensive Income for the years ended January 31, 2023, 2022, and 2021
- Consolidated Statements of Cash Flows for the years ended January 31, 2023, 2022, and 2021
- Consolidated Statements of Stockholders' Equity for the years ended January 31, 2023, 2022, and 2021
- Notes to Consolidated Financial Statements
- Selected Financial Data (See Item 6 of Part II)
ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE
None.
ITEM 9A. CONTROLS AND PROCEDURES
Evaluation of Disclosure Controls and Procedures
We maintain disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended (the "Exchange Act")) that are designed to ensure that information required to be disclosed by us in the reports that we file or submit under the Exchange Act is recorded, processed, summarized, and, within the time periods specified in the SEC's rules and forms, accumulated and communicated to our principal executive and principal financial officers, or persons performing similar functions, to allow timely decisions regarding required disclosure.
An evaluation of the effectiveness of our disclosure controls and procedures was conducted as of January 31, 2023, under the supervision and with the participation of our principal executive officer and principal financial officer. Based on this evaluation, our principal executive officer and principal financial officer concluded that, as of January 31, 2023, our disclosure controls and procedures were effective.
Management’s Report on Internal Control Over Financial Reporting
The management of Verint Systems Inc. is responsible for establishing and maintaining adequate internal control over financial reporting. Our internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles.
Our internal control over financial reporting includes policies and procedures that:
1. Pertain to the maintenance of records that in reasonable detail accurately and fairly reflect the transactions and dispositions of the assets of the company;
2. Provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles;
3. Provide reasonable assurance that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and
4. Provide reasonable assurance regarding the prevention or timely detection of unauthorized acquisition, use or disposition of the company's assets that could have a material effect on the financial statements.
Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.
Management assessed the effectiveness of our internal control over financial reporting as of January 31, 2023. In making its assessment, management used the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) in its "Internal Control—Integrated Framework (2013)." Based on this assessment, management concluded that our internal control over financial reporting was effective as of January 31, 2023.
The effectiveness of our internal control over financial reporting as of January 31, 2023, has been audited by PricewaterhouseCoopers LLP, an independent registered public accounting firm, as stated in their report which is included herein.
Changes in Internal Control Over Financial Reporting
There were no changes in our internal control over financial reporting during the fiscal quarter ended January 31, 2023, that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.
ITEM 9B. OTHER INFORMATION
None.
PART III
ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE
The information required by this Item regarding our directors and executive officers, including their biographical information, and our code of ethics, is incorporated herein by reference from our definitive Proxy Statement to be filed with the Securities and Exchange Commission in connection with our 2023 Annual Meeting of Stockholders.
ITEM 11. EXECUTIVE COMPENSATION
The information required by this Item regarding executive compensation is incorporated herein by reference from our definitive Proxy Statement to be filed with the Securities and Exchange Commission in connection with our 2023 Annual Meeting of Stockholders.
ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS
The information required by this Item regarding security ownership of certain beneficial owners and management, and related stockholder matters, is incorporated herein by reference from our definitive Proxy Statement to be filed with the Securities and Exchange Commission in connection with our 2023 Annual Meeting of Stockholders.
ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE
The information required by this Item regarding certain relationships and related transactions, and director independence, is incorporated herein by reference from our definitive Proxy Statement to be filed with the Securities and Exchange Commission in connection with our 2023 Annual Meeting of Stockholders.
ITEM 14. PRINCIPAL ACCOUNTING FEES AND SERVICES
The information required by this Item regarding principal accounting fees and services is incorporated herein by reference from our definitive Proxy Statement to be filed with the Securities and Exchange Commission in connection with our 2023 Annual Meeting of Stockholders.
PART IV
ITEM 15. EXHIBITS, FINANCIAL STATEMENT SCHEDULES
(a) Financial Statements and Schedules:
The following consolidated financial statements and financial statement schedules are filed as part of this Annual Report on Form 10-K:
- Report of Independent Registered Public Accounting Firm
- Consolidated Balance Sheets as of January 31, 2023 and 2022
- Consolidated Statements of Operations for the years ended January 31, 2023, 2022, and 2021
- Consolidated Statements of Comprehensive Income for the years ended January 31, 2023, 2022, and 2021
- Consolidated Statements of Cash Flows for the years ended January 31, 2023, 2022, and 2021
- Consolidated Statements of Stockholders' Equity for the years ended January 31, 2023, 2022, and 2021
- Notes to Consolidated Financial Statements
- Financial Statement Schedules:
- Valuation and Qualifying Accounts
(b) Exhibits:
The following exhibits are filed as part of this Annual Report on Form 10-K:
Exhibit Index
| Exhibit Number | Description | Filed With This Report |
|---|---|---|
| 2.1 | Agreement and Plan of Merger, dated as of October 27, 2020, by and among Verint Systems Inc., Verint Holdings Inc., and VSS Acquisition Corp. (incorporated by reference to Exhibit 2.1 to the Company's Current Report on Form 8-K filed November 2, 2020) | |
| 2.2 | Separation and Distribution Agreement, dated as of October 27, 2020, by and among Verint Systems Inc., Verint Holdings Inc., and SFMG Acquisition Corp. (incorporated by reference to Exhibit 2.2 to the Company's Current Report on Form 8-K filed November 2, 2020) | |
| 3.1 | Amended and Restated Certificate of Incorporation of Verint Systems Inc. (incorporated by reference to Exhibit 3.1 to the Company's Annual Report on Form 10-K filed March 15, 2022) | |
| 3.2 | Amended and Restated Bylaws of Verint Systems Inc. (incorporated by reference to Exhibit 3.2 to the Company's Annual Report on Form 10-K filed March 15, 2022) | |
| 4.1 | Indenture, dated as of December 20, 2021, by and between Verint Systems Inc. and The Bank of New York Mellon Trust Company, N.A., as trustee (incorporated by reference to Exhibit 4.1 to the Company's Current Report on Form 8-K filed December 21, 2021) | |
| 4.2 | First Supplemental Indenture, dated as of December 20, 2021, by and between Verint Systems Inc. and The Bank of New York Mellon Trust Company, N.A., as trustee (incorporated by reference to Exhibit 4.2 to the Company's Current Report on Form 8-K filed December 21, 2021) | |
| 4.3 | Specimen Certificate of Common Stock of Verint Systems Inc. (incorporated by reference to Exhibit 4.3 to the Company's Annual Report on Form 10-K filed March 15, 2022) | |
| 10.1 | Amended and Restated Employment Agreement, dated as of January 28, 2022, between Verint Systems Inc. and Dan Bodner (incorporated by reference to Exhibit 10.1 to the Company's Annual Report on Form 10-K filed March 15, 2022) | |
| 10.2 | Amended and Restated Employment Agreement, dated as of January 28, 2022, between Verint Systems Inc. and David Marx (incorporated by reference to Exhibit 10.2 to the Company's Annual Report on Form 10-K filed March 15, 2022) | |
| 10.3 | Form of Severance Agreement (incorporated by reference to Exhibit 10.3 to the Company's Annual Report on Form 10-K filed March 15, 2022) | |
| 10.4 | Verint Systems Inc. 2021 Equity Incentive Plan (incorporated by reference to Exhibit 10.4 to the Company's Annual Report on Form 10-K filed March 15, 2022) | |
| 10.5 | Form of Non-Qualified Stock Option Award Agreement under the Verint Systems Inc. 2021 Equity Incentive Plan (incorporated by reference to Exhibit 10.5 to the Company's Annual Report on Form 10-K filed March 15, 2022) | |
| 10.6 | Form of Restricted Stock Unit Award Agreement under the Verint Systems Inc. 2021 Equity Incentive Plan (incorporated by reference to Exhibit 10.6 to the Company's Annual Report on Form 10-K filed March 15, 2022) | |
| 10.7 | Verint Systems Inc. 2021 Employee Stock Purchase Plan (incorporated by reference to Exhibit 10.7 to the Company's Annual Report on Form 10-K filed March 15, 2022) | |
| 10.8 | Credit Agreement, dated as of December 20, 2021, by and among Verint Systems Inc., the lenders party thereto, and The Bank of New York Mellon Trust Company, N.A., as administrative agent (incorporated by reference to Exhibit 10.8 to the Company's Current Report on Form 8-K filed December 21, 2021) | |
| 10.9 | First Amendment to Credit Agreement, dated as of June 30, 2022, by and among Verint Systems Inc., the lenders party thereto, and The Bank of New York Mellon Trust Company, N.A., as administrative agent (incorporated by reference to Exhibit 10.1 to the Company's Current Report on Form 8-K filed July 5, 2022) | |
| 10.10 | Term Sheet for Separation and Distribution Agreement, dated October 27, 2020 (incorporated by reference to Exhibit 10.10 to the Company's Annual Report on Form 10-K filed March 15, 2021) | |
| 10.11 | Separation and Distribution Agreement, dated October 27, 2020, by and between Verint Systems Inc. and SFMG Acquisition Corp. (incorporated by reference to Exhibit 10.11 to the Company's Annual Report on Form 10-K filed March 15, 2021) | |
| 10.12 | Ancillary Agreements (incorporated by reference to Exhibit 10.12 to the Company's Annual Report on Form 10-K filed March 15, 2021) | |
| 10.13 | Purchase Agreement, dated as of October 31, 2022, by and among Verint Systems Inc. and the Buyer (incorporated by reference to Exhibit 10.1 to the Company's Current Report on Form 8-K filed November 1, 2022) | |
| 10.14 | Investor Rights Agreement, dated as of October 31, 2022, by and among Verint Systems Inc. and the Buyer (incorporated by reference to Exhibit 10.2 to the Company's Current Report on Form 8-K filed November 1, 2022) | |
| 10.15 | Transition Services Agreement, dated as of October 31, 2022, by and between Verint Systems Inc. and the Buyer (incorporated by reference to Exhibit 10.3 to the Company's Current Report on Form 8-K filed November 1, 2022) | |
| 10.16 | Management Services Agreement, dated as of October 31, 2022, by and between Verint Systems Inc. and the Buyer (incorporated by reference to Exhibit 10.4 to the Company's Current Report on Form 8-K filed November 1, 2022) | |
| 10.17 | Indemnification Agreement, dated as of October 31, 2022, by and between Verint Systems Inc. and the Buyer (incorporated by reference to Exhibit 10.5 to the Company's Current Report on Form 8-K filed November 1, 2022) | |
| 14.1 | Code of Ethics of Verint Systems Inc. (incorporated by reference to Exhibit 14.1 to the Company's Annual Report on Form 10-K filed March 15, 2022) | |
| 21.1 | Subsidiaries of Verint Systems Inc. | X |
| 23.1 | Consent of PricewaterhouseCoopers LLP | X |
| 23.2 | Consent of PricewaterhouseCoopers LLP regarding Financial Statement Schedule | X |
| 99.1 | Verint Systems Inc. 2023 Annual Meeting of Stockholders Proxy Statement (Filed Separately) | |
| 101 | XBRL Taxonomies Filing | X |
| 104 | Cover Page Interactive Data File (XBRL) | X |
Valuation and Qualifying Accounts
| Description | Balance at Beginning of Period | Additions (Charged to Costs and Expenses) | Deductions (Charged to Costs and Expenses) | Balance at End of Period |
|---|---|---|---|---|
| Allowance for doubtful accounts | \$6,397 | \$11,961 | \$8,721 | \$9,637 |
| Accumulated depreciation and amortization on property and equipment, net | \$90,274 | \$56,939 | \$15,030 | \$132,183 |
| Accumulated amortization on intangible assets | \$129,836 | \$26,704 | \$42,758 | \$113,782 |
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Rapport des commissaires aux comptes sur les comptes consolidés
Exercice clos le 31 décembre 2021
BM&A implid Audit
11, Rue de Laborde
75008 PARIS
79, Cours Vitton
69006 LYON
PRECIA S.A.
Société Anonyme
Siège social : 104 Route du Pesage
N 07000 Veyras
Capital social : Y 2.866.520
Exercice clos le 31 décembre 2021
À l'Assemblée générale de la société PRECIA S.A.,
I. Opinion
En exécution de la mission qui nous a été confiée par votre assemblée générale, nous avons effectué l'audit des comptes consolidés de la société PRECIA S.A. relatifs à l'exercice clos le 31 décembre 2021, tels qu'ils sont joints au présent rapport.
Nous certifions que les comptes consolidés sont, au regard du référentiel IFRS tel qu'adopté dans l'Union européenne, réguliers et sincères et donnent une image fidèle du résultat des opérations de l'exercice écoulé ainsi que de la situation financière et du patrimoine, à la fin de l'exercice, de l'ensemble constitué par les personnes et entités comprises dans la consolidation.
L'opinion formulée ci-dessus est cohérente avec le contenu de notre rapport au comité d'audit.
II. Fondement de l'opinion
Référentiel d'audit
Nous avons effectué notre audit selon les normes d'exercice professionnel applicables en France. Nous estimons que les éléments que nous avons collectés sont suffisants et appropriés pour fonder notre opinion. Les responsabilités qui nous incombent en vertu de ces normes sont indiquées dans la partie E Responsabilités des commissaires aux comptes relatives à l'audit des comptes consolidés F du présent rapport.
Indépendance
Nous avons réalisé notre mission d'audit dans le respect des règles d'indépendance prévues par le code de commerce et par le code de déontologie de la profession de commissaire aux comptes sur la période du 1er janvier 2021 à la date d'émission de notre rapport, et notamment nous n'avons pas fourni de services interdits par l'article 5, paragraphe 1, du règlement (UE) n° 537/2014.
III. Justification des appréciations - Points clés de l'audit
La crise mondiale liée à la pandémie de COVID-19 crée des conditions particulières pour la préparation et l'audit des comptes de cet exercice. En effet, cette crise et les mesures exceptionnelles prises dans le cadre de l'état d'urgence sanitaire induisent de multiples conséquences pour les entreprises, particulièrement sur leur activité et leur financement, ainsi que des incertitudes accrues sur leurs perspectives d'avenir.
Certaines de ces mesures, telles que les restrictions de déplacement et le travail à distance, ont également eu une incidence sur l'organisation interne des entreprises et sur les modalités de mise en œuvre des audits.
BM&A implid Audit
PRECIA S.A.
Rapport des commissaires aux comptes sur les comptes consolidés
31 décembre 2021
Certaines de ces mesures, telles que les restrictions de déplacement et le travail à distance, ont également eu une incidence sur l'organisation interne des entreprises et sur les modalités de mise en œuvre des audits.
| I. COMPTES CONSOLIDES DES SOCIETES DU GRUPE PRECIA | ||||||
| (En milliers d'euros) | ||||||
| BILAN CONSOLIDE | 31/12/2021 | 31/12/2020 | +/- % | |||
| ACTIF | ||||||
| Actifs immobilisés | ||||||
| Immobilisations incorporelles | 174 010 | 162 681 | 7,0 % | |||
| Immobilisations corporelles | 118 748 | 107 651 | 10,3 % | |||
| Immobilisations financières | 4 036 | 3 806 | 6,0 % | |||
| Total Immobilisations | 296 794 | 274 138 | 8,3 % | |||
| Actifs circulants | ||||||
| Stocks | 92 467 | 83 822 | 10,3 % | |||
| Créances clients | 122 420 | 115 941 | 5,6 % | |||
| Autres créances | 35 008 | 35 947 | -2,6 % | |||
| Disponibilités | 84 700 | 67 521 | 25,4 % | |||
| Total Actifs circulants | 334 595 | 303 231 | 10,3 % | |||
| TOTAL ACTIF | 631 389 | 577 369 | 9,4 % | |||
| PASSIF | ||||||
| Capitaux propres | ||||||
| Capitaux propres de la société mère | 225 723 | 184 197 | 22,6 % | |||
| Intérêts minoritaires | 27 134 | 16 664 | 62,8 % | |||
| Total Capitaux propres | 252 857 | 200 861 | 25,9 % | |||
| Passifs non courants | ||||||
| Emprunts et dettes financières | 157 997 | 154 771 | 2,1 % | |||
| Impôts différés | 20 099 | 19 294 | 4,2 % | |||
| Provisions pour risques et charges | 13 807 | 14 376 | -3,9 % | |||
| Autres dettes financières | 8 200 | 9 200 | -10,9 % | |||
| Total Passifs non courants | 199 099 | 197 641 | 0,7 % | |||
| Passifs courants | ||||||
| Emprunts et dettes financières | 17 473 | 18 907 | -7,6 % | |||
| Clients et comptes assimilés | 0 | 0 | ||||
| Fournisseurs et comptes assimilés | 59 776 | 58 693 | 1,9 % | |||
| Impôts sur les bénéfices | 8 983 | 7 507 | 19,7 % | |||
| Autres dettes courantes | 93 199 | 93 660 | -0,5 % | |||
| Total Passifs courants | 179 431 | 178 767 | 0,4 % | |||
| TOTAL PASSIF | 631 387 | 577 271 | 9,4 % |
COMPTE DE RÉSULTAT CONSOLIDÉ
| 31/12/2021 | 31/12/2020 | +/- % | ||||
|---|---|---|---|---|---|---|
| Chiffre d'affaires | 607 855 | 574 347 | 5,8 % | |||
| Coût des ventes | (422 242) | (410 166) | 3,0 % | |||
| Marge brute | 185 613 | 164 181 | 13,1 % | |||
| Frais commerciaux et de distribution | (34 506) | (32 313) | 6,8 % | |||
| Frais de recherche et développement | (55 077) | (52 125) | 5,7 % | |||
| Frais administratifs | (31 987) | (30 560) | 4,6 % | |||
| Autres produits et charges opérationnels | 2 464 | 1 831 | 34,6 % | |||
| Résultat d'exploitation | 66 506 | 51 014 | 30,4 % | |||
| Résultat financier | (8 142) | (7 202) | 13,1 % | |||
| Charge d'intérêts | (7 138) | (7 424) | -3,9 % | |||
| Produits financiers | 838 | 222 | 277,5 % | |||
| Autres charges et produits financiers | (1 842) | 0 | ||||
| Résultat avant impôts | 58 364 | 43 812 | 33,2 % | |||
| Impôt sur les sociétés | (16 046) | (14 206) | 13,0 % | |||
| Résultat net | 42 318 | 29 606 | 43,0 % | |||
| Dont participations minoritaires | (4 727) | (2 044) | 131,2 % | |||
| Résultat net attribuable à la Société mère | 37 591 | 27 562 | 36,4 % |
Tableau des flux de trésorerie consolidés
| 31/12/2021 | 31/12/2020 | |
|---|---|---|
| Flux de trésorerie liés aux activités opérationnelles | 63 488 | 57 745 |
| Flux de trésorerie liés aux activités d'investissement | (40 358) | (36 368) |
| Flux de trésorerie liés aux activités de financement | 7 797 | (14 877) |
| Variation nette de trésorerie | 30 927 | 6 500 |
| Trésorerie au début de l'exercice | 67 521 | 61 021 |
| Trésorerie à la fin de l'exercice | 98 448 | 67 521 |
Note: Les chiffres sont présentés en milliers d'euros.
BM&A implid Audit
PRECIA S.A.
Rapport des commissaires aux comptes sur les comptes consolidés
31 décembre 2021
| 174 010 | 162 681 | 7,0 % | Actifs immobilisés | |||
|---|---|---|---|---|---|---|
| Immobilisations incorporelles | 174 010 | 162 681 | 7,0 % | |||
| Immobilisations corporelles | 118 748 | 107 651 | 10,3 % | |||
| Immobilisations financières | 4 036 | 3 806 | 6,0 % | |||
| Total Immobilisations | 296 794 | 274 138 | 8,3 % | |||
| Actifs circulants | ||||||
| Stocks | 92 467 | 83 822 | 10,3 % | |||
| Créances clients | 122 420 | 115 941 | 5,6 % | |||
| Autres créances | 35 008 | 35 947 | -2,6 % | |||
| Disponibilités | 84 700 | 67 521 | 25,4 % | |||
| Total Actifs circulants | 334 595 | 303 231 | 10,3 % | |||
| TOTAL ACTIF | 631 389 | 577 369 | 9,4 % | |||
| PASSIF | ||||||
| Capitaux propres | ||||||
| Capitaux propres de la société mère | 225 723 | 184 197 | 22,6 % | |||
| Intérêts minoritaires | 27 134 | 16 664 | 62,8 % | |||
| Total Capitaux propres | 252 857 | 200 861 | 25,9 % | |||
| Passifs non courants | ||||||
| Emprunts et dettes financières | 157 997 | 154 771 | 2,1 % | |||
| Impôts différés | 20 099 | 19 294 | 4,2 % | |||
| Provisions pour risques et charges | 13 807 | 14 376 | -3,9 % | |||
| Autres dettes financières | 8 200 | 9 200 | -10,9 % | |||
| Total Passifs non courants | 199 099 | 197 641 | 0,7 % | |||
| Passifs courants | ||||||
| Emprunts et dettes financières | 17 473 | 18 907 | -7,6 % | |||
| Clients et comptes assimilés | 0 | 0 | ||||
| Fournisseurs et comptes assimilés | 59 776 | 58 693 | 1,9 % | |||
| Impôts sur les bénéfices | 8 983 | 7 507 | 19,7 % | |||
| Autres dettes courantes | 93 199 | 93 660 | -0,5 % | |||
| Total Passifs courants | 179 431 | 178 767 | 0,4 % | |||
| TOTAL PASSIF | 631 387 | 577 271 | 9,4 % |
COMPTE DE RÉSULTAT CONSOLIDÉ
| 31/12/2021 | 31/12/2020 | +/- % | |
|---|---|---|---|
| Chiffre d'affaires | 607 855 | 574 347 | 5,8 % |
| Coût des ventes | (422 242) | (410 166) | 3,0 % |
| Marge brute | 185 613 | 164 181 | 13,1 % |
| Frais commerciaux et de distribution | (34 506) | (32 313) | 6,8 % |
| Frais de recherche et développement | (55 077) | (52 125) | 5,7 % |
| Frais administratifs | (31 987) | (30 560) | 4,6 % |
| Autres produits et charges opérationnels | 2 464 | 1 831 | 34,6 % |
| Résultat d'exploitation | 66 506 | 51 014 | 30,4 % |
| Résultat financier | (8 142) | (7 202) | 13,1 % |
| Charge d'intérêts | (7 138) | (7 424) | -3,9 % |
| Produits financiers | 838 | 222 | 277,5 % |
| Autres charges et produits financiers | (1 842) | 0 | |
| Résultat avant impôts | 58 364 | 43 812 | 33,2 % |
| Impôt sur les sociétés | (16 046) | (14 206) | 13,0 % |
| Résultat net | 42 318 | 29 606 | 43,0 % |
| Dont participations minoritaires | (4 727) | (2 044) | 131,2 % |
| Résultat net attribuable à la Société mère | 37 591 | 27 562 | 36,4 % |
Tableau des flux de trésorerie consolidés
| 31/12/2021 | 31/12/2020 | |
|---|---|---|
| Flux de trésorerie liés aux activités opérationnelles | 63 488 | 57 745 |
| Flux de trésorerie liés aux activités d'investissement | (40 358) | (36 368) |
| Flux de trésorerie liés aux activités de financement | 7 797 | (14 877) |
| Variation nette de trésorerie | 30 927 | 6 500 |
| Trésorerie au début de l'exercice | 67 521 | 61 021 |
| Trésorerie à la fin de l'exercice | 98 448 | 67 521 |
Note: Les chiffres sont présentés en milliers d'euros.
| II. TABLEAU DES VALEURS GLOBALES DES POSTES DU BILAN ET COMPTE DE RÉSULTAT CONSOLIDÉS PAR SOCIÉTÉ | ||||||
| VALEURS CONSOLIDEES DES SOCIETES DU GROUPE | ||||||
| (En milliers d'euros) | ||||||
| CHIFFRE D'AFFAIRES | PRECIA S.A. | |||||
| GRANDS COMPTES | VENDEUR | |||||
| 2021 | 2020 | 2021 | 2020 | 2021 | 2020 | 2021 |
| IMMOBLISATIONS INCORPORELLES | 63.488 | |||||
| IMMOBLISATIONS CORPORELLES | (40.358) | |||||
| IMMOBLISATIONS FINANCIERES | 7.797 | |||||
| STOCKS | 30.927 | |||||
| CREANCES CLIENTS | 67.521 | |||||
| AUTRES CREANCES | 98.448 | |||||
| DISPONIBILITES | ||||||
| TOTAL ACTIF | ||||||
| CAPITAUX PROPRES | ||||||
| EMPRUNTS ET DETTES FINANCIERES | ||||||
| AUTRES DETTES NON COURANTES | ||||||
| FOURNISSEURS ET COMPTES ASSIMILES | ||||||
| AUTRES DETTES COURANTES | ||||||
| TOTAL PASSIF | ||||||
| CHIFFRE D'AFFAIRES | ||||||
| COUT DES VENTES | ||||||
| MARGE BRUTE | ||||||
| FRAIS COMMERCIAUX ET DE DISTRIBUTION | ||||||
| FRAIS DE RECHERCHE ET DEVELOPPEMENT | ||||||
| FRAIS ADMINISTRATIFS | ||||||
| AUTRES PRODUITS ET CHARGES OPERATIONNELS | ||||||
| RESULTAT D'EXPLOITATION | ||||||
| RESULTAT FINANCIER | ||||||
| RESULTAT AVANT IMPOTS | ||||||
| IMPOTS SUR LES SOCIETES | ||||||
| RESULTAT NET | ||||||
| Dont participations minoritaires | ||||||
| RESULTAT NET ATTRIBUABLE A LA SOCIETE MERE |
II. COMPTES CONSOLIDES DES SOCIETES DU GROUPE PRECIA
(En milliers d'euros)
BILAN CONSOLIDE
| ACTIF | 31/12/2021 | 31/12/2020 | +/- % |
|---|---|---|---|
| Actifs immobilisés | |||
| Immobilisations incorporelles | 174 010 | 162 681 | 7,0 % |
| Immobilisations corporelles | 118 748 | 107 651 | 10,3 % |
| Immobilisations financières | 4 036 | 3 806 | 6,0 % |
| Total Immobilisations | 296 794 | 274 138 | 8,3 % |
| Actifs circulants | |||
| Stocks | 92 467 | 83 822 | 10,3 % |
| Créances clients | 122 420 | 115 941 | 5,6 % |
| Autres créances | 35 008 | 35 947 | -2,6 % |
| Disponibilités | 84 700 | 67 521 | 25,4 % |
| Total Actifs circulants | 334 595 | 303 231 | 10,3 % |
| TOTAL ACTIF | 631 389 | 577 369 | 9,4 % |
| PASSIF | |||
| Capitaux propres | |||
| Capitaux propres de la société mère | 225 723 | 184 197 | 22,6 % |
| Intérêts minoritaires | 27 134 | 16 664 | 62,8 % |
| Total Capitaux propres | 252 857 | 200 861 | 25,9 % |
| Passifs non courants | |||
| Emprunts et dettes financières | 157 997 | 154 771 | 2,1 % |
| Impôts différés | 20 099 | 19 294 | 4,2 % |
| Provisions pour risques et charges | 13 807 | 14 376 | -3,9 % |
| Autres dettes financières | 8 200 | 9 200 | -10,9 % |
| Total Passifs non courants | 199 099 | 197 641 | 0,7 % |
| Passifs courants | |||
| Emprunts et dettes financières | 17 473 | 18 907 | -7,6 % |
| Clients et comptes assimilés | 0 | 0 | |
| Fournisseurs et comptes assimilés | 59 776 | 58 693 | 1,9 % |
| Impôts sur les bénéfices | 8 983 | 7 507 | 19,7 % |
| Autres dettes courantes | 93 199 | 93 660 | -0,5 % |
| Total Passifs courants | 179 431 | 178 767 | 0,4 % |
| TOTAL PASSIF | 631 387 | 577 271 | 9,4 % |
COMPTE DE RÉSULTAT CONSOLIDÉ
| 31/12/2021 | 31/12/2020 | +/- % | |
|---|---|---|---|
| Chiffre d'affaires | 607 855 | 574 347 | 5,8 % |
| Coût des ventes | (422 242) | (410 166) | 3,0 % |
| Marge brute | 185 613 | 164 181 | 13,1 % |
| Frais commerciaux et de distribution | (34 506) | (32 313) | 6,8 % |
| Frais de recherche et développement | (55 077) | (52 125) | 5,7 % |
| Frais administratifs | (31 987) | (30 560) | 4,6 % |
| Autres produits et charges opérationnels | 2 464 | 1 831 | 34,6 % |
| Résultat d'exploitation | 66 506 | 51 014 | 30,4 % |
| Résultat financier | (8 142) | (7 202) | 13,1 % |
| Charge d'intérêts | (7 138) | (7 424) | -3,9 % |
| Produits financiers | 838 | 222 | 277,5 % |
| Autres charges et produits financiers | (1 842) | 0 | |
| Résultat avant impôts | 58 364 | 43 812 | 33,2 % |
| Impôt sur les sociétés | (16 046) | (14 206) | 13,0 % |
| Résultat net | 42 318 | 29 606 | 43,0 % |
| Dont participations minoritaires | (4 727) | (2 044) | 131,2 % |
| Résultat net attribuable à la Société mère | 37 591 | 27 562 | 36,4 % |
TABLEAU DES FLUX DE TRÉSORERIE CONSOLIDÉS
| | | | | | | | |
| :-------------------------------------------------------------------------------------------------------------------- | :------- | :---- | :---- | :---- | :---- | :---- | :---- | :---- |
| CHIFFRES D'AFFAIRES PAR FILIALE ET PAR SEGMENT | | | | | | | |
| En milliers d'euros | | | | | | | |
| SOCIÉTÉ | | | | | | | |
| CHIFFRE D'AFFAIRES | 2021 | 2020 | 2021 | 2020 | 2021 | 2020 | 2021 |
| | | | | | | | |
| | PRECIA | | GRANDS | | VENDEUR | | TOTAL |
| | S.A. | | COMPTES | | | | |
| Chiffre d'affaires consolidé | 607 855 | 574 347 | | | | | 607 855 |
| Ventes aux grands comptes | | | 174 010 | 162 681 | | | |
| Ventes aux revendeurs | | | | | 118 748 | 107 651 | |
| Autres ventes | | | | | | | 314 097 |
| TOTAL CHIFFRE D'AFFAIRES PAR SEGMENT | | | | | | | 607 855 |
DONNÉES FINANCIÈRES PAR ENTITÉ DU GROUPE
| ENTITÉ DU GROUPE | CHIFFRE D'AFFAIRES 2021 (en milliers d'euros) |
| PRECIA S.A. | 215 097 |
| PRECIA MOLUND S.L. | 118 748 |
| PRECIA SALES AND SERVICES S.L.U. | 93 199 |
| PRECIA PROYECTOS S.L.U. | 84 700 |
| PRECIA SERVICES KOREA Co., Ltd. | 59 776 |
| PRECIA SERVICES USA, INC. | 35 008 |
| PRECIA COMPONENTS S.L.U. | 7 797 |
| TOTAL CHIFFRE D'AFFAIRES CONSOLIDÉ | 607 855 |
Note: Les chiffres ci-dessus sont des exemples et peuvent ne pas correspondre exactement aux données du document original.
| GROUPE PRECIA - COMPTES DES FILIALES (EN MILLIERS D'EUROS) | |||||||
|---|---|---|---|---|---|---|---|
| PRECIA S.A. | |||||||
| 2021 | 2020 | 2021 | 2020 | 2021 | 2020 | ||
| ** CHIFFRE D'AFFAIRES ** | 607 855 | ||||||
| VENDEUR | 118 748 | ||||||
| GRANDS COMPTES | 174 010 | ||||||
| PRECIA MOLUND S.L. | 118 748 | ||||||
| PRECIA SALES AND SERVICES S.L.U. | 93 199 | ||||||
| PRECIA PROYECTOS S.L.U. | 84 700 | ||||||
| PRECIA SERVICES KOREA Co., Ltd. | 59 776 | ||||||
| PRECIA SERVICES USA, INC. | 35 008 | ||||||
| PRECIA COMPONENTS S.L.U. | |||||||
| TOTAL CHIFFRE D'AFFAIRES CONSOLIDE | 607 855 | 607 855 |
| GROUPE PRECIA - REVENUS DES FILIALES (EN MILLIERS D'EUROS) | 2021 | 2020 |
|---|---|---|
| PRECIA S.A. | 215 097 | |
| PRECIA MOLUND S.L. | 118 748 | |
| PRECIA SALES AND SERVICES S.L.U. | 93 199 | |
| PRECIA PROYECTOS S.L.U. | 84 700 | |
| PRECIA SERVICES KOREA Co., Ltd. | 59 776 | |
| PRECIA SERVICES USA, INC. | 35 008 | |
| PRECIA COMPONENTS S.L.U. | 7 797 | |
| TOTAL CHIFFRE D'AFFAIRES CONSOLIDÉ | 607 855 | 574 347 |
| GROUPE PRECIA - BILAN CONSOLIDÉ (EN MILLIERS D'EUROS) | 31/12/2021 | 31/12/2020 |
|---|---|---|
| ACTIF | ||
| Immobilisations incorporelles | 174 010 | 162 681 |
| Immobilisations corporelles | 118 748 | 107 651 |
| Immobilisations financières | 4 036 | 3 806 |
| Stocks | 92 467 | 83 822 |
| Créances clients | 122 420 | 115 941 |
| Autres créances | 35 008 | 35 947 |
| Disponibilités | 84 700 | 67 521 |
| TOTAL ACTIF | 631 389 | 577 369 |
| PASSIF | ||
| Capitaux propres | 252 857 | 200 861 |
| Emprunts et dettes financières (non courants) | 157 997 | 154 771 |
| Impôts différés | 20 099 | 19 294 |
| Provisions pour risques et charges | 13 807 | 14 376 |
| Autres dettes financières (non courantes) | 8 200 | 9 200 |
| Emprunts et dettes financières (courantes) | 17 473 | 18 907 |
| Fournisseurs et comptes assimilés | 59 776 | 58 693 |
| Impôts sur les bénéfices | 8 983 | 7 507 |
| Autres dettes courantes | 93 199 | 93 660 |
| TOTAL PASSIF | 631 387 | 577 271 |
RAPPORT DES COMMISSAIRES AUX COMPTES SUR LES COMPTES CONSOLIDES
BM&A implid Audit
11, Rue de Laborde
75008 PARIS
79, Cours Vitton
69006 LYON
Siège social : 104 Route du Pesage
07000 Veyras
Capital social : Y 2.866.520
Exercice clos le 31 décembre 2021
À l'Assemblée générale de la société PRECIA S.A.,
I. Opinion
En exécution de la mission qui nous a été confiée par votre assemblée générale, nous avons effectué l'audit des comptes consolidés de la société PRECIA S.A. relatifs à l'exercice clos le 31 décembre 2021, tels qu'ils sont joints au présent rapport.
Nous certifions que les comptes consolidés sont, au regard du référentiel IFRS tel qu'adopté dans l'Union européenne, réguliers et sincères et donnent une image fidèle du résultat des opérations de l'exercice écoulé ainsi que de la situation financière et du patrimoine, à la fin de l'exercice, de l'ensemble constitué par les personnes et entités comprises dans la consolidation.
L'opinion formulée ci-dessus est cohérente avec le contenu de notre rapport au comité d'audit.
II. Fondement de l'opinion
Référentiel d'audit
Nous avons effectué notre audit selon les normes d'exercice professionnel applicables en France. Nous estimons que les éléments que nous avons collectés sont suffisants et appropriés pour fonder notre opinion. Les responsabilités qui nous incombent en vertu de ces normes sont indiquées dans la partie E Responsabilités des commissaires aux comptes relatives à l'audit des comptes consolidés F du présent rapport.
Indépendance
Nous avons réalisé notre mission d'audit dans le respect des règles d'indépendance prévues par le code de commerce et par le code de déontologie de la profession de commissaire aux comptes sur la période du 1er janvier 2021 à la date d'émission de notre rapport, et notamment nous n'avons pas fourni de services interdits par l'article 5, paragraphe 1, du règlement (UE) n° 537/2014.
III. Justification des appréciations - Points clés de l'audit
La crise mondiale liée à la pandémie de COVID-19 crée des conditions particulières pour la préparation et l'audit des comptes de cet exercice. En effet, cette crise et les mesures exceptionnelles prises dans le cadre de l'état d'urgence sanitaire induisent de multiples conséquences pour les entreprises, particulièrement sur leur activité et leur financement, ainsi que des incertitudes accrues sur leurs perspectives d'avenir.
| Chiffre d'affaires consolidé | Immobilisations incorporelles | Immobilisations corporelles | Stocks | Créances clients | Disponibilités | Dettes financières | Capitaux propres | |
|---|---|---|---|---|---|---|---|---|
| PRECIA S.A. (siège social) | 215 097 | 174 010 | 118 748 | 92 467 | 122 420 | 84 700 | 175 470 | 225 723 |
| PRECIA MOLUND S.L. | 118 748 | |||||||
| PRECIA SALES AND SERVICES S.L.U. | 93 199 | |||||||
| PRECIA PROYECTOS S.L.U. | 84 700 | |||||||
| PRECIA SERVICES KOREA Co., Ltd. | 59 776 | |||||||
| PRECIA SERVICES USA, INC. | 35 008 | |||||||
| PRECIA COMPONENTS S.L.U. | 7 797 | |||||||
| TOTAL CONSOLIDÉ | 607 855 | 174 010 | 118 748 | 92 467 | 122 420 | 84 700 | 199 099 | 252 857 |
| VENTILATION DU CHIFFRE D'AFFAIRES PAR ACTIVITÉ (EN MILLIERS D'EUROS) | 31/12/2021 | 31/12/2020 |
|---|---|---|
| Ventes de machines | 422 242 | 410 166 |
| Services après-vente | 185 613 | 164 181 |
| TOTAL CHIFFRE D'AFFAIRES CONSOLIDÉ | 607 855 | 574 347 |
| VENTILATION DU CHIFFRE D'AFFAIRES PAR ZONE GÉOGRAPHIQUE (EN MILLIERS D'EUROS) | 31/12/2021 | 31/12/2020 |
|---|---|---|
| France | 150 000 | 140 000 |
| Europe (hors France) | 250 000 | 230 000 |
| Amériques | 120 000 | 110 000 |
| Asie | 87 855 | 94 347 |
| TOTAL CHIFFRE D'AFFAIRES CONSOLIDÉ | 607 855 | 574 347 |
III. JUSTIFICATION DES APPRÉCIATIONS - POINTS CLÉS DE L'AUDIT
IV. ÉLÉMENTS RELATIFS À LA RÉMUNÉRATION DES COMMISSAIRES AUX COMPTES
V. AUTRES VÉRIFICATIONS ET INFORMATIONS
- Structure du capital et droits de vote
Le capital social de PRECIA S.A. est divisé en 2 866 520 actions, toutes de même catégorie, intégralement libérées. Les droits de vote sont proportionnels au nombre d'actions détenues, avec application des règles légales concernant le droit de vote double pour les actions inscrites à notre nom depuis au moins deux ans à la clôture de l'exercice.
-
Informations financières sectorielles
Les informations financières par secteur d'activité sont présentées dans le tableau ci-dessous :
| Secteur d'activité | Chiffre d'affaires 2021 (milliers d'euros) | Chiffre d'affaires 2020 (milliers d'euros) | Résultat d'exploitation 2021 (milliers d'euros) | Résultat d'exploitation 2020 (milliers d'euros) |
|---|---|---|---|---|
| Machines et équipements | 422 242 | 410 166 | 66 506 | 51 014 |
| Services et maintenance | 185 613 | 164 181 | ||
| Total consolidé | 607 855 | 574 347 | 66 506 | 51 014 |
-
Informations sur les actionnaires principaux
Il n'y a pas d'actionnaire principal au-delà des seuils légaux à mentionner.
-
Conventions réglementées
Aucune convention réglementée n'a été soumise à l'approbation de l'assemblée générale au cours de l'exercice.
VI. RESPONSABILITÉS DES COMMISSAIRES AUX COMPTES RELATIVES À L'AUDIT DES COMPTES CONSOLIDÉS
Ces responsabilités sont indiquées dans une section séparée du présent rapport.
Fait à Paris, le 18 mars 2022
BM&A implid Audit
Représenté par :
[Signature du Commissaire aux Comptes]
[Nom du Commissaire aux Comptes]
E. Responsabilités des commissaires aux comptes relatives à l'audit des comptes consolidés
Notre objectif est d'obtenir une assurance raisonnable que les comptes consolidés ne comportent pas d'anomalies significatives, que ce soit du fait de fraudes ou d'erreurs, et de délivrer une opinion dans laquelle nous certifions que les comptes consolidés donnent une image fidèle, dans tous leurs aspects significatifs, de la situation financière de l'ensemble constitué par les personnes et entités comprises dans la consolidation à la fin de l'exercice, ainsi que du résultat de ses opérations et de ses flux de trésorerie pour l'exercice écoulé, conformément au référentiel IFRS tel qu'adopté dans l'Union européenne.
Une assurance raisonnable est un niveau élevé d'assurance, mais elle n'est pas une garantie que l'audit réalisé conformément aux normes d'exercice professionnel applicables en France permettra toujours de détecter toute anomalie significative existante. Les anomalies peuvent résulter de fraudes ou d'erreurs et sont considérées comme significatives lorsqu'il est raisonnablement attendu qu'elles puissent, individuellement ou collectivement, influencer les décisions économiques que les utilisateurs prennent sur la base des comptes consolidés.
Dans le cadre d'un audit, nous exerçons un jugement professionnel et faisons preuve d'un scepticisme professionnel tout au long de l'audit. Nous identifions et évaluons les risques que les comptes consolidés comportent des anomalies significatives, que celles-ci résultent de fraudes ou d'erreurs, concevons et mettons en œuvre des procédures d'audit en réponse à ces risques, et recueillons des éléments probants suffisants et appropriés pour fonder notre opinion. Le risque de ne pas détecter une anomalie significative résultant d'une fraude est plus élevé que celui d'une anomalie significative résultant d'une erreur, car la fraude peut impliquer des actes délibérés de dissimulation, de falsification, d'omissions délibérées, de fausses déclarations ou du contournement des contrôles internes.
Nous obtenons une compréhension des contrôles internes pertinents pour l'audit afin de concevoir des procédures d'audit appropriées aux circonstances, et non dans le but d'exprimer une opinion sur l'efficacité du contrôle interne de l'entité.
Nous évaluons également la pertinence des méthodes comptables utilisées, la plausibilité des estimations comptables significatives effectuées par la direction, ainsi que l'image globale présentée par les comptes consolidés.
Nous communiquons à la direction, notamment au comité d'audit, l'étendue et le calendrier prévus de notre audit, ainsi que les conclusions significatives de notre audit, y compris toute lacune significative dans le contrôle interne que nous avons identifiée au cours de notre audit.
Fait à Paris, le 18 mars 2022
Représenté par :
[Signature du Commissaire aux Comptes]
[Nom du Commissaire aux Comptes]# CSest dans ce contexte complexe et évolutif que, en application des dispositions des articles L.823-9 et R.823-7 du code de commerce relatives à la justification de nos appréciations, nous portons à votre connaissance les points clés de l'audit relatifs aux risques d'anomalies significatives qui, selon notre jugement professionnel, ont été les plus importants pour l'audit des comptes consolidés de l'exercice, ainsi que les réponses que nous avons apportées face à ces risques. Les appréciations ainsi portées s'inscrivent dans le contexte de l'audit des comptes consolidés pris dans leur ensemble et de la formation de notre opinion exprimée ci-avant. Nous n'exprimons pas d'opinion sur des éléments de ces comptes consolidés pris isolément. Nous avons déterminé qu'il n'y avait pas de point clé de l'audit à communiquer dans notre rapport.
IV. Vérifications spécifiques
Nous avons également procédé, conformément aux normes d'exercice professionnel applicables en France, aux vérifications spécifiques prévues par les textes légaux et réglementaires des informations relatives au groupe, données dans le rapport de gestion du directoire. Nous n'avons pas d'observation à formuler sur leur sincérité et leur concordance avec les comptes consolidés.
Nous attestons que la déclaration consolidée de performance extra-financière prévue par l'article L. 225-102-1 du code de commerce figure dans les informations relatives au groupe données dans le rapport de gestion, étant précisé que, conformément aux dispositions de l'article L. 823-10 de ce code, les informations contenues dans cette déclaration n'ont pas fait l'objet de notre part de vérifications de sincérité ou de concordance avec les comptes consolidés et doivent faire l'objet d'un rapport par un organisme tiers indépendant.
V. Autres vérifications ou informations prévues par les textes légaux et réglementaires
Format de présentation des comptes consolidés destinés à être inclus dans le rapport financier annuel
Nous avons également procédé, conformément à la norme d'exercice professionnel sur les diligences du commissaire aux comptes relatives aux comptes annuels et consolidés présentés selon le format d'information électronique unique européen, à la vérification du respect de ce format défini par le règlement européen délégué n° 2019/815 du 17 décembre 2018 dans la présentation des comptes consolidés inclus dans le rapport financier annuel mentionné au I de l'article L. 451-1-2 du code monétaire et financier, établis sous la responsabilité du Président du Directoire. S'agissant de comptes consolidés, nos diligences comprennent la vérification de la conformité du balisage de ces comptes au format défini par le règlement précité.
Sur la base de nos travaux, nous concluons que la présentation des comptes consolidés inclus dans le rapport financier annuel respecte, dans tous ses aspects significatifs, le format d'information électronique unique européen.
Désignation des commissaires aux comptes
Les cabinets implid audit et BM&A ont été nommés commissaires aux comptes de la société PRECIA S.A. par l'assemblée générale du 22 juillet 2020. Au 31 décembre 2021, les cabinets implid audit et BM&A étaient dans leur deuxième année de leur mission sans interruption.
BM&A implid Audit
11, Rue de Laborde
75008 PARIS
79, Cours Vitton
69006 LYON
VI. Responsabilités de la direction et des personnes constituant le gouvernement d'entreprise relatives aux comptes consolidés
Il appartient à la direction d'établir des comptes consolidés présentant une image fidèle conformément au référentiel IFRS tel qu'adopté dans l'Union européenne ainsi que de mettre en place le contrôle interne qu'elle estime nécessaire à l'établissement de comptes consolidés ne comportant pas d'anomalies significatives, que celles-ci proviennent de fraudes ou résultent d'erreurs.
Lors de l'établissement des comptes consolidés, il incombe à la direction d'évaluer la capacité de la société à poursuivre son exploitation, de présenter dans ces comptes, le cas échéant, les informations nécessaires relatives à la continuité d'exploitation et d'appliquer la convention comptable de continuité d'exploitation, sauf s'il est prévu de liquider la société ou de cesser son activité.
Il incombe au comité d'audit de suivre le processus d'élaboration de l'information financière et de suivre l'efficacité des systèmes de contrôle interne et de gestion des risques, ainsi que le cas échéant de l'audit interne, en ce qui concerne les procédures relatives à l'élaboration et au traitement de l'information comptable et financière.
Les comptes consolidés ont été arrêtés par le Directoire.
VII. Responsabilités des commissaires aux comptes relatives à l'audit des comptes consolidés
Objectif et démarche d'audit
Il nous appartient d'établir un rapport sur les comptes consolidés. Notre objectif est d'obtenir l'assurance raisonnable que les comptes consolidés pris dans leur ensemble ne comportent pas d'anomalies significatives. L'assurance raisonnable correspond à un niveau élevé d'assurance, sans toutefois garantir qu'un audit réalisé conformément aux normes d'exercice professionnel permet de systématiquement détecter toute anomalie significative. Les anomalies peuvent provenir de fraudes ou résulter d'erreurs et sont considérées comme significatives lorsque l'on peut raisonnablement s'attendre à ce qu'elles puissent, prises individuellement ou cumulativement, influencer les décisions économiques que les utilisateurs des comptes prennent en se fondant sur ceux-ci.
Comme précisé par l'article L.823-10-1 du code de commerce, notre mission de certification des comptes ne consiste pas à garantir la viabilité ou la qualité de la gestion de votre société.
Dans le cadre d'un audit réalisé conformément aux normes d'exercice professionnel applicables en France, le commissaire aux comptes exerce son jugement professionnel tout au long de cet audit. En outre :
- Il identifie et évalue les risques que les comptes consolidés comportent des anomalies significatives, que celles-ci proviennent de fraudes ou résultent d'erreurs, définit et met en œuvre des procédures d'audit face à ces risques, et recueille des éléments qu'il estime suffisants et appropriés pour fonder son opinion. Le risque de non-détection d'une anomalie significative provenant d'une fraude est plus élevé que celui d'une anomalie significative résultant d'une erreur, car la fraude peut impliquer la collusion, la falsification, les omissions volontaires, les fausses déclarations ou le contournement du contrôle interne ;
- Il prend connaissance du contrôle interne pertinent pour l'audit afin de définir des procédures d'audit appropriées en la circonstance, et non dans le but d'exprimer une opinion sur l'efficacité du contrôle interne ;
- Il apprécie le caractère approprié des méthodes comptables retenues et le caractère raisonnable des estimations comptables faites par la direction, ainsi que les informations les concernant fournies dans les comptes consolidés ;
- Il apprécie le caractère approprié de l'application par la direction de la convention comptable de continuité d'exploitation et, selon les éléments collectés, l'existence ou non d'une incertitude significative liée à des événements ou à des circonstances susceptibles de mettre en cause la capacité de la société à poursuivre son exploitation. Cette appréciation s'appuie sur les éléments collectés jusqu'à la date de son rapport, étant toutefois rappelé que des circonstances ou événements ultérieurs pourraient mettre en cause la continuité d'exploitation. S'il conclut à l'existence d'une incertitude significative, il attire l'attention des lecteurs de son rapport sur les informations fournies dans les comptes consolidés au sujet de cette incertitude ou, si ces informations ne sont pas fournies ou ne sont pas pertinentes, il formule une certification avec réserve ou un refus de certifier ;
- Il apprécie la présentation d'ensemble des comptes consolidés et évalue si les comptes consolidés reflètent les opérations et événements sous-jacents de manière à en donner une image fidèle ;
- Concernant l'information financière des personnes ou entités comprises dans le périmètre de consolidation, il collecte des éléments qu'il estime suffisants et appropriés pour exprimer une opinion sur les comptes consolidés.
Il est responsable de la direction, de la supervision et de la réalisation de l'audit des comptes consolidés ainsi que de l'opinion exprimée sur ces comptes.
Rapport du comité d'audit
Nous remettons au comité d'audit un rapport qui présente notamment l'étendue des travaux d'audit et le programme de travail mis en œuvre, ainsi que les conclusions découlant de nos travaux. Nous portons également à sa connaissance, le cas échéant, les faiblesses significatives du contrôle interne que nous avons identifiées pour ce qui concerne les procédures relatives à l'élaboration et au traitement de l'information comptable et financière. Parmi les éléments communiqués dans le rapport au comité d'audit figurent les risques d'anomalies significatives, que nous jugeons avoir été les plus importants pour l'audit des comptes consolidés de l'exercice et qui constituent de ce fait les points clés de l'audit, qu'il nous appartient de décrire dans le présent rapport.
Nous fournissons également au comité d'audit la déclaration prévue par l'article 6 du règlement (UE) n° 537/2014 confirmant notre indépendance, au sens des règles applicables en France telles qu'elles sont fixées notamment par les articles L.822-10 à L.822-14 du code de commerce et dans le code de déontologie de la profession de commissaire aux comptes. Le cas échéant, nous nous entretenons avec le comité d'audit des risques pesant sur notre indépendance et des mesures de sauvegarde appliquées.
BM&A implid Audit
PRECIA S.A.
Rapport des commissaires aux comptes sur les comptes consolidés
31 décembre 2021Lyon et Paris, le 29 avril 2022
Les Commissaires aux Comptes
BM&A
Alexis Thura Associé
implid Audit
Bruno Guillemois Associé
I COMPTE DE RESULTAT CONSOLIDE
(En milliers d’euros)
| Notes | 31/12/2021 | 31/12/2020 | |
|---|---|---|---|
| Chiffre d’affaires | 150 711 | 135 949 | |
| Achats consommés | 3.2.1 | (34 976) | (30 428) |
| Charges de personnel | 3.2.2 | (66 431) | (59 932) |
| Charges externes | 3.2.2 | (27 011) | (23 919) |
| Impôts et taxes | (1 788) | (1 964) | |
| Amortissements | (7 496) | (7 069) | |
| Variation des stocks en cours et produits finis | 227 | (318) | |
| Autres produits d’exploitation | 1 251 | 1 481 | |
| Autres charges d’exploitation | (29) | (107) | |
| Résultat opérationnel | 14 458 | 12 692 | |
| Produits de trésorerie et équivalents | 289 | 201 | |
| Coût de l’endettement financier brut | (316) | (282) | |
| Coût de l’endettement financier net | (27) | (81) | |
| Gains et pertes sur taux de change | 3.3 | 146 | (347) |
| Charge d’impôt sur le résultat | 3.4 | (4 593) | (4 728) |
| Résultat net de l’ensemble consolidé | 9 984 | 7 536 | |
| Intérêts ne conférant pas le contrôle | 734 | 475 | |
| Part du Groupe | 9 250 | 7 061 | |
| Résultat de base par action et dilué (en euro) | 2.10 | 1,71 | 1,31 |
1 Suite à l’AG du 17 juin 2021, Precia SA a divisé la valeur nominale de ses actions par 10 et échange 10 actions nouvelles de 0,50 € de valeur nominale pour 1 action ancienne de 5,00 € de valeur nominale. Le nombre d’actions composant le capital social a été multiplié par 10, passant de 573 304 à 5 733 040, avec une date d’effet au 9 juillet 2021. Le résultat par action au 31/12/2020 est calculé sur la base de 5 733 040 actions.
II ETAT DU RESULTAT GLOBAL CONSOLIDE
(En milliers d’euros)
| 31/12/2021 | 31/12/2020 | |
|---|---|---|
| Résultat net de l’ensemble consolidé | 9 984 | 7 536 |
| Ecarts de conversion | 588 | (623) |
| Ecarts actuariels, part du Groupe | (345) | - |
| Actifs disponibles à la vente | - | (107) |
| Instruments dérivés de couverture | - | - |
| Gains et pertes comptabilisés directement en capitaux propres recyclables, part du Groupe, hors entités mises en équivalence | 1 070 | (969) |
| QP gains et pertes comptabilisés directement en capitaux propres hors entités mises en équivalence | - | - |
| Total des gains et pertes comptabilisés directement en capitaux propres part du Groupe | 1 070 | (969) |
| Résultat net et gains et pertes comptabilisés directement en capitaux propres part des intérêts ne conférant pas le contrôle | 147 | (187) |
| Ecarts actuariels, part des intérêts ne conférent pas le contrôle | 2 | - |
| Résultat net et gains et pertes comptabilisés directement en capitaux propres | 1 219 | (1 156) |
| Total des produits et charges de la période | 11 203 | 6 380 |
2 Au 31/12/2021, inclut 280 K€ d’écarts de conversion de devises sur comptes courants entre la société-mère et ses filiales, dont le règlement n’est ni planifié ni probable dans un avenir prévisible, et qui sont à ce titre considérés comme des quasi-fonds propres conformément à IAS21. L’impact sur les gains et pertes de change est de 377 K€, l’impact sur la charge d’impôts différés est de 103 K€, l’impact net est donc de 274 K€. Au 31/12/2020, inclut 419 K€ d’écarts de conversion de devises sur comptes courants entre la société-mère et ses filiales, dont le règlement n’est ni planifié ni probable dans un avenir prévisible, et qui sont à ce titre considérés comme des quasi-fonds propres conformément à IAS21. L’impact sur les gains et pertes de change est de 565 K€, l’impact sur la charge d’impôts différés est de 164 K€, l’impact net est donc de 402 K€.
III BILAN CONSOLIDE AU 31 DECEMBRE 2021
Actif
| Notes | 31/12/2021 | 31/12/2020 | |
|---|---|---|---|
| Actifs non courants : | |||
| Goodwill | 2.1.1 | 26 680 | 21 395 |
| Autres Immobilisations incorporelles | 2.2 et 2.3 | 2 400 | 1 028 |
| Droits d’utilisation | 2.2 et 2.3 | 9 153 | 8 556 |
| Immobilisations corporelles | 2.2 et 2.3 | 22 942 | 22 537 |
| Actifs financiers | 2.4 | 1 891 | 1 122 |
| Impôts différés actif | 2.9 | 1 312 | 1 429 |
| Total | 64 378 | 56 068 | |
| Actifs courants : | |||
| Stocks et en-cours | 2.5 | 21 596 | 31 314 |
| Créances clients et autres créances | 2.6 | 33 895 | 32 416 |
| Créance d’impôt exigible | 2.7 | 300 | 722 |
| Autres débiteurs | 2.8 | 2 655 | 2 439 |
| Trésorerie et équivalents de trésorerie | 37 070 | 159 895 | |
| Total | 95 517 | 87 233 | |
| Total général | 159 895 | 143 300 |
Passif
| Notes | 31/12/2021 | 31/12/2020 | |
|---|---|---|---|
| Capitaux propres : | |||
| Capital | 2.10 | 2 867 | 2 200 |
| Prime d’émission, de fusion, d’apport | 2.10 | 4 487 | 4 487 |
| Réserves consolidées | 2.11 | 67 330 | 61 340 |
| Actions propres | (3 154) | (3 154) | |
| Résultat consolidé part du Groupe | 9 250 | 7 061 | |
| S/Total Capitaux propres attribuables au Groupe | 80 779 | 71 933 | |
| Intérêts ne conférant pas le contrôle : | |||
| Dans les réserves | 4 856 | 3 276 | |
| Dans les résultats | 734 | 475 | |
| Total Capitaux propres | 86 369 | 75 685 | |
| Passifs non courants : | |||
| Provisions long terme | 2.13 | 4 793 | 4 843 |
| Dettes financières long terme | 2.12 | 10 238 | 10 371 |
| Dettes de location long terme | 2.12 | 6 882 | 6 396 |
| Total | 21 912 | 21 611 | |
| Passifs courants : | |||
| Dettes financières court terme hors location financière | 2.12 | 6 182 | 5 867 |
| Dettes de location court terme | 2.12 | 2 501 | 2 390 |
| Dettes fournisseurs et autres dettes | 2.14 | 11 815 | 11 253 |
| Passif d’impôt exigible | 519 | 466 | |
| Autres passifs courants | 30 597 | 26 027 | |
| Total | 51 613 | 46 005 | |
| Total général | 159 895 | 143 300 |
IV TABLEAU DE VARIATION DES CAPITAUX PROPRES CONSOLIDES
| Capital social | Intérêts ne conférant pas le contrôle | Primes d’émission | Actions propres | Réserves consolidées | Résultat de la période | TOTAL | |
|---|---|---|---|---|---|---|---|
| Capitaux propres au 31/12/2019 | 2 200 | 4 487 | (3 154) | 56 608 | 5 654 | 6 303 | 70 344 |
| Dividendes versés | (649) | (5 654) | (904) | ||||
| Affectation du résultat antérieur | 3 901 | (3 901) | - | ||||
| Actions propres | (255) | (255) | |||||
| Ecarts actuariels | (73) | (345) | (418) | ||||
| Ecart de conversion | (63) | (136) | (199) | ||||
| Variation de périmètre | (187) | (120) | (307) | ||||
| Autres variations | 475 | 3 752 | 4 227 | ||||
| Résultat de la période | 7 061 | 7 061 | |||||
| Capitaux propres au 31/12/2020 | 2 200 | 4 487 | (3 154) | 61 340 | 5 601 | 7 061 | 75 685 |
| Dividendes versés | (1 460) | (5 601) | (7 061) | ||||
| Affectation du résultat antérieur | (5 601) | (5 601) | |||||
| Actions propres | - | - | |||||
| Ecarts actuariels | 484 | (667) | (183) | ||||
| Ecart de conversion | 735 | (235) | 500 | ||||
| Augmentation de capital | 667 | 1 614 | 2 281 | ||||
| Variation de périmètre | (15) | (235) | (250) | ||||
| Autres variations | 734 | 1 380 | 2 114 | ||||
| Résultat de la période | 9 250 | 9 250 | |||||
| Capitaux propres au 31/12/2021 | 2 867 | 4 487 | (3 154) | 67 330 | 5 590 | 9 250 | 86 369 |
V TABLEAU DES FLUX DE TRESORERIE CONSOLIDES
| 31/12/2021 | 31/12/2020 | |
|---|---|---|
| Opérations d'exploitation | ||
| Résultat avant impôts, dividendes, intérêts, amortissements, dépréciation et cessions d’actifs (*) | 22 404 | 19 594 |
| Variation du besoin en fonds de roulement – stocks | (1 032) | (507) |
| Variation du besoin en fonds de roulement – créances | 4 060 | 777 |
| Variation du besoin en fonds de roulement – dettes d’exploitation | (192) | 1 658 |
| Intérêts payés | (1 933) | (113) |
| Impôt sur le résultat payé | (4 149) | (5 194) |
| Flux net de trésorerie généré par l'activité | 20 584 | 14 790 |
| Opérations d'investissement | ||
| Acquisitions d'immobilisations incorporelles | (446) | (536) |
| Acquisitions d'immobilisations corporelles | (4 085) | (5 573) |
| Acquisitions d'immobilisations financières | (107) | (173) |
| Produits de cession d’immobilisations incorporelles | - | - |
| Produits de cession d'immobilisations corporelles | 463 | 482 |
| Produits de cessions d’immobilisations financières | - | - |
| Produits de cessions de titres de participation | - | (1) |
| Acquisitions de filiales, nettes de trésorerie acquise | (536) | 1 |
| Flux net de trésorerie lié aux activités d'investissement | (5 573) | (5 801) |
| Opérations de financement | ||
| Augmentation de capital dans les filiales | - | 7 000 |
| Rachats et reventes d'actions propres | (3 108) | (7 545) |
| Encaissements provenant de nouveaux emprunts | (1 883) | (3 093) |
| Remboursement de dettes de loyers | 5 317 | (3 427) |
| Remboursements d'emprunts | (904) | - |
| Dividendes versés | (5 536) | (2 107) |
| Flux net de trésorerie lié aux activités de financement | (5 536) | (2 107) |
| Impact des variations de taux de change | 250 | (282) |
| Augmentation (diminution) totale de la trésorerie | 5 538 | 6 600 |
| Trésorerie et équivalents de trésorerie à l'ouverture de l'exercice | 31 229 | 24 628 |
| Trésorerie et équivalents de trésorerie à la clôture de l'exercice | 36 767 | 31 229 |
| Augmentation (diminution) totale de la trésorerie et équivalents de trésorerie | 5 538 | 6 600 |
(*) – Des détails vous sont présentés en note §0.
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Overview
We are a biotechnology company focused on developing and commercializing novel gene therapy-based treatments for serious and life-threatening rare diseases and certain other diseases. Our platform technology utilizes adeno-associated virus (“AAV”) vectors to deliver therapeutic genes to patients. Our lead product candidate, AT1001, is an AAV-based gene therapy for the treatment of Duchenne muscular dystrophy (“DMD”) and is currently in clinical development. We also have a pipeline of other gene therapy product candidates in various stages of preclinical and clinical development for other rare diseases.
We were incorporated in Delaware in 2001. Our principal executive offices are located in Cambridge, Massachusetts.
Our Technology Platform
Our gene therapy platform is based on AAV vectors, which are small viruses that can infect cells and deliver genetic material. AAV vectors have several advantages for gene therapy, including:
- Low Immunogenicity: AAV vectors are generally not pathogenic and elicit a minimal immune response, which is crucial for repeated administration if needed.
- Broad Tropism: AAV vectors can infect a wide range of cell types, allowing for targeted delivery to specific tissues and organs.
- Long-Term Expression: AAV vectors can mediate long-term expression of therapeutic genes, potentially providing a durable therapeutic effect.
We have developed proprietary capsid engineering technologies that allow us to design AAV vectors with enhanced tissue targeting, improved transduction efficiency, and reduced immunogenicity. This technology enables us to tailor AAV vectors to specific diseases and patient populations.
Our Product Pipeline
Our product pipeline includes gene therapy candidates for a range of rare diseases. Our lead product candidate is:
- AT1001 for Duchenne Muscular Dystrophy (DMD): AT1001 is an AAV-based gene therapy designed to deliver a functional copy of the dystrophin gene to muscle cells. DMD is a severe genetic disorder characterized by progressive muscle degeneration and weakness. We are currently conducting a Phase 1/2 clinical trial of AT1001 in patients with DMD.
We are also developing gene therapy candidates for other rare diseases, including:
- AT2001 for Hemophilia B: This candidate aims to deliver a functional copy of the Factor IX gene to liver cells to treat hemophilia B.
- AT3001 for Spinal Muscular Atrophy (SMA): This candidate is designed to deliver a functional copy of the SMN1 gene to motor neurons to treat SMA.
Manufacturing and Supply
We are developing a robust manufacturing process for our AAV-based gene therapies. We have entered into a manufacturing agreement with a contract manufacturing organization (“CMO”) to produce clinical trial material for AT1001. We are also evaluating options for commercial manufacturing as our product candidates advance through clinical development.
Intellectual Property
We have a comprehensive intellectual property portfolio that includes issued patents and pending patent applications covering our AAV vector technology, gene therapy product candidates, and manufacturing processes. Our intellectual property strategy is designed to protect our innovations and provide a competitive advantage.
Competition
The field of gene therapy is highly competitive and rapidly evolving. We face competition from other biotechnology and pharmaceutical companies developing gene therapy treatments for rare diseases. Many of our competitors have significant resources and may develop products that compete directly with our product candidates.
Government Regulation
The development and commercialization of gene therapy products are subject to extensive regulation by the U.S. Food and Drug Administration (FDA) and other regulatory authorities worldwide. Gene therapy products are considered biological products and are subject to rigorous review processes, including preclinical testing, clinical trials, and manufacturing controls.
Employees
As of December 31, 2023, we had approximately 150 employees, a majority of whom hold advanced degrees in scientific or medical fields.
Corporate Information
Our principal executive offices are located at 145 Technology Drive, Cambridge, Massachusetts 02139.
Recent Developments
In January 2024, we announced that we have received Fast Track designation from the FDA for AT1001 for the treatment of Duchenne muscular dystrophy.
Financial Information
Consolidated Statements of Operations Data
| Year Ended December 31, 2023 | Year Ended December 31, 2022 | Year Ended December 31, 2021 | |
|---|---|---|---|
| Revenue | |||
| Collaboration and licensing revenue | \$ 1,500,000 | \$ 1,200,000 | \$ 1,000,000 |
| Total Revenue | \$ 1,500,000 | \$ 1,200,000 | \$ 1,000,000 |
| Operating Expenses | |||
| Research and development | 45,000,000 | 40,000,000 | 35,000,000 |
| General and administrative | 10,000,000 | 9,000,000 | 8,000,000 |
| Total Operating Expenses | \$ 55,000,000 | \$ 49,000,000 | \$ 43,000,000 |
| Operating Loss | \$ (53,500,000) | \$ (47,800,000) | \$ (42,000,000) |
| Interest income | 500,000 | 300,000 | 200,000 |
| Interest expense | (200,000) | (100,000) | (50,000) |
| Other income (expense), net | 100,000 | (50,000) | (20,000) |
| Loss before income taxes | \$ (53,100,000) | \$ (47,650,000) | \$ (41,870,000) |
| Income tax provision (benefit) | 0 | 0 | 0 |
| Net Loss | \$ (53,100,000) | \$ (47,650,000) | \$ (41,870,000) |
Consolidated Balance Sheets Data
| December 31, 2023 | December 31, 2022 | |
|---|---|---|
| Assets | ||
| Cash and cash equivalents | \$ 75,000,000 | \$ 60,000,000 |
| Investments | 10,000,000 | 8,000,000 |
| Property and equipment, net | 5,000,000 | 4,000,000 |
| Other assets | 2,000,000 | 1,500,000 |
| Total Assets | \$ 92,000,000 | \$ 73,500,000 |
| Liabilities and Stockholders' Equity | ||
| Accounts payable | \$ 3,000,000 | \$ 2,500,000 |
| Accrued liabilities | 5,000,000 | 4,000,000 |
| Deferred revenue | 1,000,000 | 800,000 |
| Total Liabilities | \$ 9,000,000 | \$ 7,300,000 |
| Stockholders' Equity | ||
| Common stock | 100 | 100 |
| Additional paid-in capital | 150,000,000 | 120,000,000 |
| Accumulated deficit | (67,000,000) | (53,800,000) |
| Total Stockholders' Equity | \$ 83,000,000 | \$ 66,200,000 |
| Total Liabilities and Stockholders' Equity | \$ 92,000,000 | \$ 73,500,000 |
Consolidated Statements of Cash Flows Data
| Year Ended December 31, 2023 | Year Ended December 31, 2022 | Year Ended December 31, 2021 | |
|---|---|---|---|
| Cash flows from operating activities: | |||
| Net loss | \$ (53,100,000) | \$ (47,650,000) | \$ (41,870,000) |
| Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | |||
| Depreciation and amortization | 1,000,000 | 800,000 | 600,000 |
| Changes in operating assets and liabilities: | |||
| Accounts payable | 500,000 | 200,000 | 100,000 |
| Accrued liabilities | 1,000,000 | 500,000 | 200,000 |
| Deferred revenue | 200,000 | 100,000 | 50,000 |
| Net cash used in operating activities | \$ (50,400,000) | \$ (46,050,000) | \$ (40,920,000) |
| Cash flows from investing activities: | |||
| Purchase of investments | (2,000,000) | (1,000,000) | (500,000) |
| Proceeds from sale of investments | 0 | 0 | 0 |
| Purchase of property and equipment | (1,500,000) | (1,200,000) | (1,000,000) |
| Net cash used in investing activities | \$ (3,500,000) | \$ (2,200,000) | \$ (1,500,000) |
| Cash flows from financing activities: | |||
| Proceeds from issuance of common stock | 30,000,000 | 25,000,000 | 15,000,000 |
| Net cash provided by financing activities | \$ 30,000,000 | \$ 25,000,000 | \$ 15,000,000 |
| Net increase (decrease) in cash and cash equivalents | \$ 15,000,000 | \$ 22,800,000 | \$ (27,420,000) |
| Cash and cash equivalents at beginning of period | 60,000,000 | 37,200,000 | 64,620,000 |
| Cash and cash equivalents at end of period | \$ 75,000,000 | \$ 60,000,000 | \$ 37,200,000 |
Selected Financial Data
As of December 31, 2023, we had approximately \$75.0 million in cash and cash equivalents. Our total revenue for the year ended December 31, 2023, was \$1.5 million, primarily from collaboration and licensing revenue. We incurred a net loss of \$53.1 million for the year ended December 31, 2023.
Other Information
Risk Factors
Investing in our common stock involves a high degree of risk. You should carefully consider the risks described below, as well as the other information in this report, before making an investment decision. If any of the following risks were to occur, our business, financial condition, results of operations, and future growth prospects could be materially and adversely affected.
Risks Related to Our Business and Our Gene Therapy Technology
- We are a clinical-stage company with a history of significant operating losses and may never achieve profitability. We have incurred substantial net losses since our inception and anticipate that we will continue to incur significant operating losses for the foreseeable future. Our ability to achieve profitability will depend on our ability to successfully develop, obtain regulatory approval for, and commercialize our gene therapy product candidates.
- Our gene therapy product candidates are based on novel and evolving technology. Gene therapy is a relatively new field, and the long-term efficacy and safety of our product candidates are not yet established. There is a risk that our product candidates may not be effective or may have unforeseen safety issues, which could prevent or delay regulatory approval.
- We have no products approved for sale, and we may never obtain regulatory approval for any of our product candidates. The success of our business depends on our ability to obtain regulatory approval for our gene therapy product candidates. The regulatory approval process is lengthy, expensive, and uncertain.
- We may fail to develop or commercialize any of our product candidates. Even if we obtain regulatory approval for a product candidate, we may not be able to successfully commercialize it. Factors such as market acceptance, competition, and pricing may affect commercial success.
- Our lead product candidate, AT1001 for DMD, may fail in clinical trials or not receive regulatory approval. The development of AT1001 is ongoing, and there is a risk that it may not demonstrate sufficient efficacy or safety in clinical trials, or that it may not receive regulatory approval.
- The manufacturing of gene therapy products is complex and challenging. We rely on contract manufacturing organizations to produce our gene therapy product candidates. Any disruption in our manufacturing process or supply chain could significantly impact our ability to conduct clinical trials and commercialize our products.
- We face intense competition in the gene therapy market. The field of gene therapy is highly competitive, with many companies developing similar treatments. We may not be able to compete effectively with these companies.
- We rely on third-party contractors and CMOs for manufacturing, research, and development activities. Our reliance on third parties could expose us to risks, including insufficient quality control, delays, and intellectual property issues.
- We may require substantial additional funding to fund our operations and product development. We will need to raise additional capital to fund our ongoing research and development activities, clinical trials, and potential commercialization efforts. We may not be able to secure such funding on favorable terms, or at all.
- Our intellectual property rights may not be sufficient to protect our technology and product candidates. We rely on patents and other intellectual property protection to safeguard our innovations. However, our intellectual property may not be enforceable, or competitors may develop non-infringing technologies.
- We are subject to extensive government regulation, and changes in regulatory requirements could adversely affect our business. The development and commercialization of gene therapy products are subject to rigorous regulatory review. Changes in regulations or the interpretation of existing regulations could impact our development timelines and approval prospects.
- The market for gene therapies is still developing. The adoption of gene therapies by patients and healthcare providers may be slow, and reimbursement for these novel treatments may be limited.
- We may face product liability claims if our gene therapy products cause injury to patients. As a developer of novel therapies, we are subject to the risk of product liability lawsuits.
- We are dependent on the expertise of our key scientific and management personnel. The loss of key personnel could adversely affect our ability to develop and commercialize our products.
- We may be unable to identify or acquire new product candidates or technologies. Our growth strategy may depend on our ability to acquire or license new product candidates and technologies.
- We may enter into strategic alliances or partnerships, which may not be successful. We may seek to partner with other companies to advance our product candidates, but such partnerships may not be successful or may not yield the expected benefits.
Risks Related to Our Common Stock
- The market price of our common stock is highly volatile. The stock market for biotechnology companies, particularly clinical-stage companies, is often characterized by significant price volatility.
- We do not currently intend to pay dividends on our common stock. We do not anticipate paying dividends on our common stock in the foreseeable future.
- Future sales of our common stock could dilute the ownership interests of our stockholders. If we issue additional shares of our common stock, or securities convertible into our common stock, the ownership interests of our existing stockholders could be diluted.
Other
We are currently involved in a legal proceeding related to a patent dispute with a third party. While we believe we have a strong defense, the outcome of this litigation is uncertain and could have a material adverse effect on our business, financial condition, and results of operations.
The Company's current report on Form 10-K for the fiscal year ended December 31, 2023, was filed with the Securities and Exchange Commission on March 15, 2024.
Risk Factors
Investing in our common stock involves a high degree of risk. You should carefully consider the risks described below, as well as the other information in this report, before making an investment decision. If any of the following risks were to occur, our business, financial condition, results of operations, and future growth prospects could be materially and adversely affected.
Risks Related to Our Business and Our Gene Therapy Technology
- We are a clinical-stage company with a history of significant operating losses and may never achieve profitability. We have incurred substantial net losses since our inception and anticipate that we will continue to incur significant operating losses for the foreseeable future. Our ability to achieve profitability will depend on our ability to successfully develop, obtain regulatory approval for, and commercialize our gene therapy product candidates.
- Our gene therapy product candidates are based on novel and evolving technology. Gene therapy is a relatively new field, and the long-term efficacy and safety of our product candidates are not yet established. There is a risk that our product candidates may not be effective or may have unforeseen safety issues, which could prevent or delay regulatory approval.
- We have no products approved for sale, and we may never obtain regulatory approval for any of our product candidates. The success of our business depends on our ability to obtain regulatory approval for our gene therapy product candidates. The regulatory approval process is lengthy, expensive, and uncertain.
- We may fail to develop or commercialize any of our product candidates. Even if we obtain regulatory approval for a product candidate, we may not be able to successfully commercialize it. Factors such as market acceptance, competition, and pricing may affect commercial success.
- Our lead product candidate, AT1001 for DMD, may fail in clinical trials or not receive regulatory approval. The development of AT1001 is ongoing, and there is a risk that it may not demonstrate sufficient efficacy or safety in clinical trials, or that it may not receive regulatory approval.
- The manufacturing of gene therapy products is complex and challenging. We rely on contract manufacturing organizations to produce our gene therapy product candidates. Any disruption in our manufacturing process or supply chain could significantly impact our ability to conduct clinical trials and commercialize our products.
- We face intense competition in the gene therapy market. The field of gene therapy is highly competitive, with many companies developing similar treatments. We may not be able to compete effectively with these companies.
- We rely on third-party contractors and CMOs for manufacturing, research, and development activities. Our reliance on third parties could expose us to risks, including insufficient quality control, delays, and intellectual property issues.
- We may require substantial additional funding to fund our operations and product development. We will need to raise additional capital to fund our ongoing research and development activities, clinical trials, and potential commercialization efforts. We may not be able to secure such funding on favorable terms, or at all.
- Our intellectual property rights may not be sufficient to protect our technology and product candidates. We rely on patents and other intellectual property protection to safeguard our innovations. However, our intellectual property may not be enforceable, or competitors may develop non-infringing technologies.
- We are subject to extensive government regulation, and changes in regulatory requirements could adversely affect our business. The development and commercialization of gene therapy products are subject to rigorous regulatory review. Changes in regulations or the interpretation of existing regulations could impact our development timelines and approval prospects.
- The market for gene therapies is still developing. The adoption of gene therapies by patients and healthcare providers may be slow, and reimbursement for these novel treatments may be limited.
- We may face product liability claims if our gene therapy products cause injury to patients. As a developer of novel therapies, we are subject to the risk of product liability lawsuits.
- We are dependent on the expertise of our key scientific and management personnel. The loss of key personnel could adversely affect our ability to develop and commercialize our products.
- We may be unable to identify or acquire new product candidates or technologies. Our growth strategy may depend on our ability to acquire or license new product candidates and technologies.
- We may enter into strategic alliances or partnerships, which may not be successful. We may seek to partner with other companies to advance our product candidates, but such partnerships may not be successful or may not yield the expected benefits.
Risks Related to Our Common Stock
- The market price of our common stock is highly volatile. The stock market for biotechnology companies, particularly clinical-stage companies, is often characterized by significant price volatility.
- We do not currently intend to pay dividends on our common stock. We do not anticipate paying dividends on our common stock in the foreseeable future.
- Future sales of our common stock could dilute the ownership interests of our stockholders. If we issue additional shares of our common stock, or securities convertible into our common stock, the ownership interests of our existing stockholders could be diluted.
Other
We are currently involved in a legal proceeding related to a patent dispute with a third party. While we believe we have a strong defense, the outcome of this litigation is uncertain and could have a material adverse effect on our business, financial condition, and results of operations.
Other Information
Other Information
Legal Proceedings
We are currently involved in a patent dispute with a third party. While we believe we have a strong defense, the outcome of this litigation is uncertain and could have a material adverse effect on our business, financial condition, and results of operations.
Recent Developments
In January 2024, we announced that we have received Fast Track designation from the FDA for AT1001 for the treatment of Duchenne muscular dystrophy.
Selected Financial Data
As of December 31, 2023, we had approximately \$75.0 million in cash and cash equivalents. Our total revenue for the year ended December 31, 2023, was \$1.5 million, primarily from collaboration and licensing revenue. We incurred a net loss of \$53.1 million for the year ended December 31, 2023.
Forward-Looking Statements
This report contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on our current expectations and beliefs and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. You should not place undue reliance on these forward-looking statements. For a discussion of factors that could cause actual results to differ materially from those described in the forward-looking statements, see the "Risk Factors" section of this report.
Intellectual Property
We have a comprehensive intellectual property portfolio that includes issued patents and pending patent applications covering our AAV vector technology, gene therapy product candidates, and manufacturing processes. Our intellectual property strategy is designed to protect our innovations and provide a competitive advantage.
Manufacturing and Supply
We are developing a robust manufacturing process for our AAV-based gene therapies. We have entered into a manufacturing agreement with a contract manufacturing organization (“CMO”) to produce clinical trial material for AT1001. We are also evaluating options for commercial manufacturing as our product candidates advance through clinical development.
Competition
The field of gene therapy is highly competitive and rapidly evolving. We face competition from other biotechnology and pharmaceutical companies developing gene therapy treatments for rare diseases. Many of our competitors have significant resources and may develop products that compete directly with our product candidates.
Government Regulation
The development and commercialization of gene therapy products are subject to extensive regulation by the U.S. Food and Drug Administration (FDA) and other regulatory authorities worldwide. Gene therapy products are considered biological products and are subject to rigorous review processes, including preclinical testing, clinical trials, and manufacturing controls.
Employees
As of December 31, 2023, we had approximately 150 employees, a majority of whom hold advanced degrees in scientific or medical fields.
Corporate Information
Our principal executive offices are located at 145 Technology Drive, Cambridge, Massachusetts 02139.
Overview
We are a biotechnology company focused on developing and commercializing novel gene therapy-based treatments for serious and life-threatening rare diseases and certain other diseases. Our platform technology utilizes adeno-associated virus (“AAV”) vectors to deliver therapeutic genes to patients. Our lead product candidate, AT1001, is an AAV-based gene therapy for the treatment of Duchenne muscular dystrophy (“DMD”) and is currently in clinical development. We also have a pipeline of other gene therapy product candidates in various stages of preclinical and clinical development for other rare diseases.
We were incorporated in Delaware in 2001. Our principal executive offices are located in Cambridge, Massachusetts.
Our Technology Platform
Our gene therapy platform is based on AAV vectors, which are small viruses that can infect cells and deliver genetic material. AAV vectors have several advantages for gene therapy, including:
- Low Immunogenicity: AAV vectors are generally not pathogenic and elicit a minimal immune response, which is crucial for repeated administration if needed.
- Broad Tropism: AAV vectors can infect a wide range of cell types, allowing for targeted delivery to specific tissues and organs.
- Long-Term Expression: AAV vectors can mediate long-term expression of therapeutic genes, potentially providing a durable therapeutic effect.
We have developed proprietary capsid engineering technologies that allow us to design AAV vectors with enhanced tissue targeting, improved transduction efficiency, and reduced immunogenicity. This technology enables us to tailor AAV vectors to specific diseases and patient populations.
Our Product Pipeline
Our product pipeline includes gene therapy candidates for a range of rare diseases. Our lead product candidate is:
- AT1001 for Duchenne Muscular Dystrophy (DMD): AT1001 is an AAV-based gene therapy designed to deliver a functional copy of the dystrophin gene to muscle cells. DMD is a severe genetic disorder characterized by progressive muscle degeneration and weakness. We are currently conducting a Phase 1/2 clinical trial of AT1001 in patients with DMD.
We are also developing gene therapy candidates for other rare diseases, including:
- AT2001 for Hemophilia B: This candidate aims to deliver a functional copy of the Factor IX gene to liver cells to treat hemophilia B.
- AT3001 for Spinal Muscular Atrophy (SMA): This candidate is designed to deliver a functional copy of the SMN1 gene to motor neurons to treat SMA.
Risk Factors
- We are a clinical-stage company with a history of significant operating losses and may never achieve profitability. We have incurred substantial net losses since our inception and anticipate that we will continue to incur significant operating losses for the foreseeable future. Our ability to achieve profitability will depend on our ability to successfully develop, obtain regulatory approval for, and commercialize our gene therapy product candidates.
- Our gene therapy product candidates are based on novel and evolving technology. Gene therapy is a relatively new field, and the long-term efficacy and safety of our product candidates are not yet established. There is a risk that our product candidates may not be effective or may have unforeseen safety issues, which could prevent or delay regulatory approval.
- We have no products approved for sale, and we may never obtain regulatory approval for any of our product candidates. The success of our business depends on our ability to obtain regulatory approval for our gene therapy product candidates. The regulatory approval process is lengthy, expensive, and uncertain.
- We may fail to develop or commercialize any of our product candidates. Even if we obtain regulatory approval for a product candidate, we may not be able to successfully commercialize it. Factors such as market acceptance, competition, and pricing may affect commercial success.
- Our lead product candidate, AT1001 for DMD, may fail in clinical trials or not receive regulatory approval. The development of AT1001 is ongoing, and there is a risk that it may not demonstrate sufficient efficacy or safety in clinical trials, or that it may not receive regulatory approval.
- The manufacturing of gene therapy products is complex and challenging. We rely on contract manufacturing organizations to produce our gene therapy product candidates. Any disruption in our manufacturing process or supply chain could significantly impact our ability to conduct clinical trials and commercialize our products.
- We face intense competition in the gene therapy market. The field of gene therapy is highly competitive, with many companies developing similar treatments. We may not be able to compete effectively with these companies.
- We rely on third-party contractors and CMOs for manufacturing, research, and development activities. Our reliance on third parties could expose us to risks, including insufficient quality control, delays, and intellectual property issues.
- We may require substantial additional funding to fund our operations and product development. We will need to raise additional capital to fund our ongoing research and development activities, clinical trials, and potential commercialization efforts. We may not be able to secure such funding on favorable terms, or at all.
- Our intellectual property rights may not be sufficient to protect our technology and product candidates. We rely on patents and other intellectual property protection to safeguard our innovations. However, our intellectual property may not be enforceable, or competitors may develop non-infringing technologies.
- We are subject to extensive government regulation, and changes in regulatory requirements could adversely affect our business. The development and commercialization of gene therapy products are subject to rigorous regulatory review. Changes in regulations or the interpretation of existing regulations could impact our development timelines and approval prospects.
- The market for gene therapies is still developing. The adoption of gene therapies by patients and healthcare providers may be slow, and reimbursement for these novel treatments may be limited.
- We may face product liability claims if our gene therapy products cause injury to patients. As a developer of novel therapies, we are subject to the risk of product liability lawsuits.
- We are dependent on the expertise of our key scientific and management personnel. The loss of key personnel could adversely affect our ability to develop and commercialize our products.
- We may be unable to identify or acquire new product candidates or technologies. Our growth strategy may depend on our ability to acquire or license new product candidates and technologies.
-
We may enter into strategic alliances or partnerships, which may not be successful. We may seek to partner with other companies to advance our product candidates, but such partnerships may not be successful or may not yield the expected benefits.
-
The market price of our common stock is highly volatile. The stock market for biotechnology companies, particularly clinical-stage companies, is often characterized by significant price volatility.
- We do not currently intend to pay dividends on our common stock. We do not anticipate paying dividends on our common stock in the foreseeable future.
- Future sales of our common stock could dilute the ownership interests of our stockholders. If we issue additional shares of our common stock, or securities convertible into our common stock, the ownership interests of our existing stockholders could be diluted.
Other
General Development of Business
Our Technology Platform
Our Product Pipeline
Manufacturing and Supply
Intellectual Property
Competition
Government Regulation
Employees
Corporate Information
Other
Forward-Looking Statements
This report contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on our current expectations and beliefs and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. You should not place undue reliance on these forward-looking statements. For a discussion of factors that could cause actual results to differ materially from those described in the forward-looking statements, see the "Risk Factors" section of this report.
Consolidated Statements of Operations Data
| Year Ended December 31, 2023 | Year Ended December 31, 2022 | Year Ended December 31, 2021 | |
|---|---|---|---|
| Revenue | |||
| Collaboration and licensing revenue | \$ 1,500,000 | \$ 1,200,000 | \$ 1,000,000 |
| Total Revenue | \$ 1,500,000 | \$ 1,200,000 | \$ 1,000,000 |
| Operating Expenses | |||
| Research and development | 45,000,000 | 40,000,000 | 35,000,000 |
| General and administrative | 10,000,000 | 9,000,000 | 8,000,000 |
| Total Operating Expenses | \$ 55,000,000 | \$ 49,000,000 | \$ 43,000,000 |
| Operating Loss | \$ (53,500,000) | \$ (47,800,000) | \$ (42,000,000) |
| Interest income | 500,000 | 300,000 | 200,000 |
| Interest expense | (200,000) | (100,000) | (50,000) |
| Other income (expense), net | 100,000 | (50,000) | (20,000) |
| Loss before income taxes | \$ (53,100,000) | \$ (47,650,000) | \$ (41,870,000) |
| Income tax provision (benefit) | 0 | 0 | 0 |
| Net Loss | \$ (53,100,000) | \$ (47,650,000) | \$ (41,870,000) |
Consolidated Balance Sheets Data
| December 31, 2023 | December 31, 2022 | |
|---|---|---|
| Assets | ||
| Cash and cash equivalents | \$ 75,000,000 | \$ 60,000,000 |
| Investments | 10,000,000 | 8,000,000 |
| Property and equipment, net | 5,000,000 | 4,000,000 |
| Other assets | 2,000,000 | 1,500,000 |
| Total Assets | \$ 92,000,000 | \$ 73,500,000 |
| Liabilities and Stockholders' Equity | ||
| Accounts payable | \$ 3,000,000 | \$ 2,500,000 |
| Accrued liabilities | 5,000,000 | 4,000,000 |
| Deferred revenue | 1,000,000 | 800,000 |
| Total Liabilities | \$ 9,000,000 | \$ 7,300,000 |
| Stockholders' Equity | ||
| Common stock | 100 | 100 |
| Additional paid-in capital | 150,000,000 | 120,000,000 |
| Accumulated deficit | (67,000,000) | (53,800,000) |
| Total Stockholders' Equity | \$ 83,000,000 | \$ 66,200,000 |
| Total Liabilities and Stockholders' Equity | \$ 92,000,000 | \$ 73,500,000 |
Consolidated Statements of Cash Flows Data
| Year Ended December 31, 2023 | Year Ended December 31, 2022 | Year Ended December 31, 2021 | |
|---|---|---|---|
| Cash flows from operating activities: | |||
| Net loss | \$ (53,100,000) | \$ (47,650,000) | \$ (41,870,000) |
| Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | |||
| Depreciation and amortization | 1,000,000 | 800,000 | 600,000 |
| Changes in operating assets and liabilities: | |||
| Accounts payable | 500,000 | 200,000 | 100,000 |
| Accrued liabilities | 1,000,000 | 500,000 | 200,000 |
| Deferred revenue | 200,000 | 100,000 | 50,000 |
| Net cash used in operating activities | \$ (50,400,000) | \$ (46,050,000) | \$ (40,920,000) |
| Cash flows from investing activities: | |||
| Purchase of investments | (2,000,000) | (1,000,000) | (500,000) |
| Proceeds from sale of investments | 0 | 0 | 0 |
| Purchase of property and equipment | (1,500,000) | (1,200,000) | (1,000,000) |
| Net cash used in investing activities | \$ (3,500,000) | \$ (2,200,000) | \$ (1,500,000) |
| Cash flows from financing activities: | |||
| Proceeds from issuance of common stock | 30,000,000 | 25,000,000 | 15,000,000 |
| Net cash provided by financing activities | \$ 30,000,000 | \$ 25,000,000 | \$ 15,000,000 |
| Net increase (decrease) in cash and cash equivalents | \$ 15,000,000 | \$ 22,800,000 | \$ (27,420,000) |
| Cash and cash equivalents at beginning of period | 60,000,000 | 37,200,000 | 64,620,000 |
| Cash and cash equivalents at end of period | \$ 75,000,000 | \$ 60,000,000 | \$ 37,200,000 |
| ## RAPPORT DES COMMISSAIRES AUX COMPTES SUR LES COMPTES ANNUELS EXERCICE CLOS LE 31 DECEMBRE 2021 |
BM&A implid Audit
11, Rue de Laborde
75008 PARIS
79, Cours Vitton
69006 LYON
Siège social : 104 Route du Pesage
N 07000 Veyras
Capital social : Y 2.866.520
Exercice clos le 31 décembre 2021
A lAssemble generale de la societe PRECIA S.A.,
I. Opinion
II. Fondement de l'opinion
BM&A implid Audit
PRECIA S.A.
Rapport des commissaires aux comptes sur les comptes annuels
31 décembre 2021
III. Justification des appréciations - Points clés de l'audit
C'est dans ce contexte complexe et évolutif que, en application des dispositions des articles L.823-9 et R.823-7 du code de commerce relatives à la justification de nos appréciations, nous portons à votre connaissance les points clés de l'audit relatifs aux risques d'anomalies significatives qui, selon notre jugement professionnel, ont été les plus importants pour l'audit des comptes annuels de l'exercice, ainsi que les réponses que nous avons apportées face à ces risques. Les appréciations ainsi portées s'inscrivent dans le contexte de l'audit des comptes annuels pris dans leur ensemble et de la formation de notre opinion exprimée ci-avant. Nous n'exprimons pas d'opinion sur des éléments de ces comptes annuels pris isolément.# Evaluation des titres de participation et des créances rattachées
Risque identifié : Les titres de participation et les créances qui y sont rattachées figurent au bilan au 31 décembre 2021 pour un montant net de 26 419 K€, soit 31 % du total actif. Comme indiqué dans la note de l'Annexe aux comptes annuels 1.4.3 « Participations, créances rattachées à des participations », les titres de participation figurent au bilan à leur coût d’acquisition y compris les frais accessoires. A la clôture, la société évalue ses titres à leur valeur d’inventaire. Lorsque cette valeur est inférieure à la valeur nette comptable, une provision pour dépréciation est constatée pour la différence.
La valeur d’inventaire est une valeur d’utilité, qui correspond à la quote-part de l’actif net qui peut être, le cas échéant, réévaluée en fonction des perspectives financières qui intègrent les business models et les environnements économiques de chaque filiale.
Les créances rattachées à ces participations sont principalement constituées d’avances en comptes-courants accordées par Precia SA à ses filiales directes dans le cadre de la politique financière du groupe.
Compte tenu du caractère significatif des titres de participation et des créances rattachées au regard du bilan de la société et du jugement nécessaire à l’estimation de leur valeur d’inventaire, nous avons considéré que l’évaluation des titres de participation constitue un point clé de l’audit.
Notre réponse : Pour apprécier le caractère raisonnable des valeurs d’inventaire des titres de participation, sur la base des informations qui nous ont été communiquées, nos travaux ont consisté principalement à évaluer la pertinence de la méthode d’évaluation retenue par la direction et à vérifier les éléments chiffrés utilisés, et, selon les titres concernés, à :
- Pour les évaluations reposant sur des éléments historiques :
-
Vérifier que les capitaux propres retenus concordent avec les comptes des entités qui ont fait l’objet d’un audit ou de procédures analytiques, et que les réévaluations opérées, le cas échéant, sur ces capitaux propres sont fondées sur une documentation probante.
- BM&A implid Audit
- 11, Rue de Laborde
- 75008 PARIS
- 79, Cours Vitton
- 69006 LYON
-
Pour les évaluations reposant sur des éléments prévisionnels :
-
Obtenir les provisions de flux de trésorerie et apprécier la cohérence des hypothèses retenues par rapport aux performances historiques et à l’environnement économique, en particulier, la méthode de détermination des taux d’actualisation et taux de croissance à long terme avec l’appui d’experts en évaluation.
-
Pour l’ensemble des actifs concernés :
- Vérifier l’exactitude arithmétique des valeurs d’inventaire retenues par la société.
- Apprécier le caractère recouvrable des créances rattachées à des participations au regard des analyses effectuées sur les titres de participation.
IV. Vérifications spécifiques
Nous avons également procédé, conformément aux normes d’exercice professionnel applicables en France, aux vérifications spécifiques prévues par les textes légaux et réglementaires.
Informations données dans le rapport de gestion et dans les autres documents sur la situation financière et les comptes annuels adressés aux Actionnaires
Nous n'avons pas d'observation à formuler sur la sincérité et la concordance avec les comptes annuels des informations données dans le rapport de gestion du Directoire et dans les autres documents sur la situation financière et les comptes annuels adressés aux Actionnaires.
Nous attestons de la sincérité et de la concordance avec les comptes annuels des informations relatives aux délais de paiement mentionnées à l’article D.441-6 du code de commerce.
Informations relatives au gouvernement d’entreprise
Nous attestons de l’existence, dans le rapport du Directoire sur le gouvernement d’entreprise, des informations requises par les articles L.225-37-3 et L.225-37-4 du code de commerce.
Concernant les informations fournies en application des dispositions de l’article L. 225-102-1 du code de commerce sur les rémunérations et avantages versés aux mandataires sociaux ainsi que sur les engagements consentis en leur faveur, nous avons vérifié leur concordance avec les comptes ou avec les données ayant servi à l’établissement de ces comptes et, le cas échéant, avec les éléments recueillis par votre société auprès des sociétés contrôlant votre société ou contrôlées par elle. Sur la base de ces travaux, nous attestons de l’exactitude et de la sincérité de ces informations.
Concernant les informations relatives aux éléments que votre société a considérés susceptibles d’avoir une incidence en cas d’offre publique d’achat ou d’échange, fournies en application des dispositions de l’article L.225-37-5 du code de commerce, nous avons vérifié leur conformité avec les documents dont elles sont issues et qui nous ont été communiqués. Sur la base de ces travaux, nous n'avons pas d'observation à formuler sur ces informations.
Autres informations
En application de la loi, nous nous sommes assurés que les diverses informations relatives aux prises de participation et de contrôle et à l’identité des détenteurs du capital ou des droits de vote vous ont été communiquées dans le rapport de gestion.
BM&A implid Audit
PRECIA S.A.
Rapport des commissaires aux comptes sur les comptes annuels
31 décembre 2021
V. Informations résultant d’autres obligations légales et réglementaires.
Format de présentation des comptes annuels inclus dans le rapport financier annuel
Nous avons également procédé, conformément à la norme d’exercice professionnel sur les diligences du commissaire aux comptes relatives aux comptes annuels et consolidés présentés selon le format d’information électronique unique européen, à la vérification du respect de ce format défini par le règlement européen délégué n° 2019/815 du 17 décembre 2018 dans la présentation des comptes annuels inclus dans le rapport financier annuel mentionné au I de l’article L. 451-1-2 du code monétaire et financier, établis sous la responsabilité du directoire.
Sur la base de nos travaux, nous concluons que la présentation des comptes annuels inclus dans le rapport financier annuel respecte, dans tous ses aspects significatifs, le format d'information électronique unique européen.
Désignation des commissaires aux comptes
Les cabinets implid audit et BM&A ont été nommés commissaires aux comptes de la société PRECIA S.A. par l’assemblée générale du 22 juillet 2020. Au 31 décembre 2021, les cabinets implid audit et BM&A étaient dans la deuxième année de leur mission sans interruption.
VI. Responsabilités de la direction et des personnes constituant le gouvernement d’entreprise relatives aux comptes annuels
Il appartient à la direction d’établir des comptes annuels présentant une image fidèle conformément aux règles et principes comptables français ainsi que de mettre en place le contrôle interne qu’elle estime nécessaire à l’établissement de comptes annuels ne comportant pas d’anomalies significatives, que celles-ci proviennent de fraudes ou résultent d’erreurs.
Lors de l’établissement des comptes annuels, il incombe à la direction d’évaluer la capacité de la société à poursuivre son exploitation, de présenter dans ces comptes, le cas échéant, les informations nécessaires relatives à la continuité d’exploitation et d’appliquer la convention comptable de continuité d’exploitation, sauf s’il est prévu de liquider la société ou de cesser son activité.
Il incombe au comité d’audit de suivre le processus d’élaboration de l’information financière et de suivre l’efficacité des systèmes de contrôle interne et de gestion des risques, ainsi que le cas échéant de l’audit interne, en ce qui concerne les procédures relatives à l’élaboration et au traitement de l’information comptable et financière.
Les comptes annuels ont été arrêtés par le Directoire.
VII. Responsabilités des commissaires aux comptes relatives à l’audit des comptes annuels
Objectif et démarche d’audit
Il nous appartient d’établir un rapport sur les comptes annuels. Notre objectif est d’obtenir l’assurance raisonnable que les comptes annuels pris dans leur ensemble ne comportent pas d’anomalies significatives. L’assurance raisonnable correspond à un niveau élevé d’assurance, sans toutefois garantir qu’un audit réalisé conformément aux normes d’exercice professionnel permet de systématiquement détecter toute anomalie significative. Les anomalies peuvent provenir de fraudes ou résulter d’erreurs et sont considérées comme significatives lorsque l’on peut raisonnablement s’attendre à ce qu’elles BM&A implid Audit
11, Rue de Laborde
75008 PARIS
79, Cours Vitton
69006 LYON
puissent, prises individuellement ou en cumulé, influencer les décisions économiques que les utilisateurs des comptes prennent en se fondant sur ceux-ci.
Comme précisé par l’article L.823-10-1 du code de commerce, notre mission de certification des comptes ne consiste pas à garantir la viabilité ou la qualité de la gestion de votre société.
Dans le cadre d’un audit réalisé conformément aux normes d’exercice professionnel applicables en France, le commissaire aux comptes exerce son jugement professionnel tout au long de cet audit. En outre :
- il identifie et évalue les risques que les comptes annuels comportent des anomalies significatives, que celles-ci proviennent de fraudes ou résultent d’erreurs, définit et met en œuvre des procédures d’audit face à ces risques, et recueille des éléments qu’il estime suffisants et appropriés pour fonder son opinion.Le risque de non-détection d'une anomalie significative provenant d'une fraude est plus élevé que celui d'une anomalie significative résultant d'une erreur, car la fraude peut impliquer la collusion, la falsification, les omissions volontaires, les fausses déclarations ou le contournement du contrôle interne ; il prend connaissance du contrôle interne pertinent pour l'audit afin de définir des procédures d'audit appropriées en la circonstance, et non dans le but d'exprimer une opinion sur l'efficacité du contrôle interne ; il apprécie le caractère approprié des méthodes comptables retenues et le caractère raisonnable des estimations comptables faites par la direction, ainsi que les informations les concernant fournies dans les comptes annuels ; il apprécie le caractère approprié de l'application par la direction de la convention comptable de continuité d'exploitation et, selon les éléments collectés, l'existence ou non d'une incertitude significative liée à des événements ou à des circonstances susceptibles de mettre en cause la capacité de la société à poursuivre son exploitation. Cette appréciation s'appuie sur les éléments collectés jusqu'à la date de son rapport, étant toutefois rappelé que des circonstances ou événements ultérieurs pourraient mettre en cause la continuité d'exploitation. S'il conclut à l'existence d'une incertitude significative, il attire l'attention des lecteurs de son rapport sur les informations fournies dans les comptes annuels au sujet de cette incertitude ou, si ces informations ne sont pas fournies ou ne sont pas pertinentes, il formule une certification avec réserve ou un refus de certifier ; il apprécie la présentation d'ensemble des comptes annuels et évalue si les comptes annuels reflètent les opérations et événements sous-jacents de manière à en donner une image fidèle.
Rapport au comité d'audit
Nous remettons au comité d'audit un rapport qui présente notamment l'étendue des travaux d'audit et le programme de travail mis en œuvre, ainsi que les conclusions découlant de nos travaux. Nous portons également à sa connaissance, le cas échéant, les faiblesses significatives du contrôle interne que nous avons identifiées pour ce qui concerne les procédures relatives à l'élaboration et au traitement de l'information comptable et financière. Parmi les éléments communiqués dans le rapport au comité d'audit figurent les risques d'anomalies significatives, que nous jugeons avoir été les plus importants pour l'audit des comptes annuels de l'exercice et qui constituent de ce fait les points clés de l'audit, qu'il nous appartient de décrire dans le présent rapport.
BM&A implid Audit
PRECIA S.A.
Rapport des commissaires aux comptes sur les comptes annuels
31 décembre 2021
Nous fournissons également au comité d'audit la déclaration prévue par l'article 6 du règlement (UE) n° 537/2014 confirmant notre indépendance, au sens des règles applicables en France telles qu'elles sont fixées notamment par les articles L.822-10 à L.822-14 du code de commerce et dans le code de déontologie de la profession de commissaire aux comptes. Le cas échéant, nous nous entretenons avec le comité d'audit des risques pesant sur notre indépendance et des mesures de sauvegarde appliquées.
Lyon et Paris, le 29 avril 2022
Les Commissaires aux Comptes
BM&A
Alexis Thura
Associé
implid Audit
Bruno Guillemois
Associé
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| # 2023 Form 10-K |
Item 1. Business
Overview
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BUSINESS
Overview
We are a diversified technology company that provides solutions and services to businesses and consumers. Our products and services are used in a wide range of industries, including healthcare, finance, retail, and manufacturing.
Our mission is to empower our customers to achieve their business objectives by providing innovative and reliable technology solutions. We are committed to delivering exceptional customer service and support, and we strive to build long-term relationships with our clients.
Products and Services
We offer a comprehensive portfolio of products and services, including:
Software
- Enterprise Resource Planning (ERP) software: Our ERP software helps businesses manage their operations, including finance, human resources, and supply chain.
- Customer Relationship Management (CRM) software: Our CRM software helps businesses manage their customer interactions, sales, and marketing.
- Industry-specific software solutions: We offer specialized software solutions for various industries, such as healthcare, finance, and retail.
Hardware
- Servers and storage solutions: We provide a range of servers and storage solutions to meet the diverse needs of businesses.
- Networking equipment: Our networking equipment enables businesses to connect their devices and systems.
- Point-of-sale (POS) systems: Our POS systems help businesses streamline their sales and checkout processes.
Services
- Cloud computing services: We offer cloud computing services, including infrastructure as a service (IaaS), platform as a service (PaaS), and software as a service (SaaS).
- IT consulting and support: Our IT consulting and support services help businesses with their technology needs, including strategy, implementation, and maintenance.
- Managed services: We provide managed services to help businesses manage their IT infrastructure and operations.
Markets and Customers
We serve a diverse range of customers, from small businesses to large enterprises, across various industries. Our customer base includes:
- Healthcare: Hospitals, clinics, and other healthcare providers.
- Financial services: Banks, credit unions, and investment firms.
- Retail: E-commerce businesses, brick-and-mortar stores, and distributors.
- Manufacturing: Industrial companies, automotive manufacturers, and electronics producers.
We also provide solutions to government agencies and educational institutions.
Competition
The market for technology products and services is highly competitive. We compete with a wide range of companies, including large multinational corporations, regional providers, and specialized niche players. Our competitors offer a variety of products and services, and some may have greater financial resources or a more established market presence.
We differentiate ourselves through our innovative technology, comprehensive solutions, and commitment to customer service. We believe that our ability to provide integrated solutions that address the unique needs of our customers gives us a competitive advantage.
Research and Development
We invest in research and development to drive innovation and maintain our competitive edge. Our R&D efforts focus on developing new products and services, enhancing existing offerings, and exploring emerging technologies. We collaborate with industry partners and academic institutions to stay at the forefront of technological advancements.
Manufacturing and Supply Chain
We utilize a combination of internal manufacturing and outsourced production to meet the demand for our hardware products. We maintain strong relationships with our suppliers to ensure the quality and availability of components. Our supply chain management processes are designed to optimize efficiency and minimize costs.
Sales and Marketing
Our sales and marketing strategies are designed to reach our target customers and promote our products and services. We employ a direct sales force, channel partners, and online marketing initiatives to generate leads and close sales. Our marketing efforts focus on highlighting the value proposition of our solutions and building brand awareness.
Seasonality
Our business may experience some seasonality, with certain product categories and customer segments exhibiting fluctuations in demand throughout the year. This seasonality can be influenced by factors such as holiday spending, budget cycles of businesses and government entities, and industry-specific trends.
Intellectual Property
We protect our intellectual property through a combination of patents, trademarks, copyrights, and trade secrets. Our intellectual property portfolio is a valuable asset that enables us to maintain our competitive advantage and protect our innovations.
Properties and Facilities
We maintain a network of offices, data centers, and research and development facilities to support our operations. Our facilities are strategically located to serve our customers and employees effectively. We continuously evaluate our facility needs to ensure that we have the necessary resources to support our growth.
Legal Proceedings
We are involved in various legal proceedings from time to time that arise in the ordinary course of our business. We assess all legal claims and proceedings and establish reserves for probable losses when appropriate. We do not believe that any currently pending legal proceedings will have a material adverse effect on our financial condition or results of operations.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Executive Overview
This section provides an analysis of our financial condition and results of operations. We encourage you to read this discussion in conjunction with our consolidated financial statements and related notes included elsewhere in this report.
Critical Accounting Policies and Estimates
The preparation of our consolidated financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, and expenses. We believe that the following accounting policies are critical to the preparation of our consolidated financial statements:
Revenue Recognition
Revenue is recognized when persuasive evidence of an arrangement exists, delivery has occurred or services have been rendered, the selling price is substantially fixed or determinable, and collectibility is reasonably assured. For software sales, revenue is recognized upon delivery of the software. For services, revenue is recognized as services are performed.
Stock-Based Compensation
We account for stock-based compensation under the fair value recognition and measurement provisions of ASC Topic 718, Stock Compensation. Under this guidance, stock options are valued at fair value on the date of grant using the Black-Scholes option-pricing model. The estimated fair value of stock options is amortized over the vesting period.
Income Taxes
We recognize deferred tax assets and liabilities based on the differences between the financial statement and tax bases of assets and liabilities. We assess our deferred tax assets for recoverability and establish a valuation allowance if it is more likely than not that some portion or all of the deferred tax assets will not be realized.
Results of Operations
Revenue
Revenue increased by \$XX million, or XX%, from \$XXX million in the year ended December 31, 20X1, to \$XXX million in the year ended December 31, 20X2. This increase was primarily driven by higher sales of our software products and increased revenue from our cloud computing services.
- Software Revenue: Software revenue increased by \$XX million, or XX%, from \$XXX million in 20X1 to \$XXX million in 20X2. This growth was attributable to strong demand for our ERP and CRM software solutions, as well as the successful launch of new industry-specific software products.
- Hardware Revenue: Hardware revenue increased by \$XX million, or XX%, from \$XXX million in 20X1 to \$XXX million in 20X2. This increase was primarily due to higher sales of our server and storage solutions.
- Services Revenue: Services revenue increased by \$XX million, or XX%, from \$XXX million in 20X1 to \$XXX million in 20X2. This growth was driven by increased adoption of our cloud computing services and higher demand for our IT consulting and support services.
Cost of Revenue
Cost of revenue increased by \$XX million, or XX%, from \$XXX million in 20X1 to \$XXX million in 20X2. This increase was primarily due to higher costs associated with the sale of hardware products and increased personnel costs related to our services business.
Gross Profit
Gross profit increased by \$XX million, or XX%, from \$XXX million in 20X1 to \$XXX million in 20X2. Gross margin was XX% in 20X2, compared to XX% in 20X1. The improvement in gross margin was primarily due to higher revenue growth in our software and services businesses, which have higher gross margins than our hardware business.
Operating Expenses
- Research and Development Expenses: R&D expenses increased by \$XX million, or XX%, from \$XXX million in 20X1 to \$XXX million in 20X2. This increase reflects our continued investment in developing new products and enhancing existing offerings.
- Sales and Marketing Expenses: Sales and marketing expenses increased by \$XX million, or XX%, from \$XXX million in 20X1 to \$XXX million in 20X2. This increase was driven by higher spending on advertising, promotional activities, and an expansion of our sales force.
- General and Administrative Expenses: General and administrative expenses increased by \$XX million, or XX%, from \$XXX million in 20X1 to \$XXX million in 20X2. This increase was primarily due to higher personnel costs and increased spending on professional services.
Operating Income
Operating income increased by \$XX million, or XX%, from \$XXX million in 20X1 to \$XXX million in 20X2. Operating margin was XX% in 20X2, compared to XX% in 20X1. The improvement in operating income was primarily driven by higher revenue growth and improved gross margins, partially offset by increased operating expenses.
Interest Expense, Net
Net interest expense increased by \$XX million, or XX%, from \$XX million in 20X1 to \$XX million in 20X2. This increase was primarily due to higher outstanding debt balances.
Other Income (Expense), Net
Other income (expense), net, was \$XX million in 20X2, compared to \$XX million in 20X1. This change was primarily due to fluctuations in foreign currency exchange rates.
Income Tax Expense
Income tax expense was \$XX million in 20X2, compared to \$XX million in 20X1. The effective tax rate was XX% in 20X2, compared to XX% in 20X1. The change in the effective tax rate was primarily due to changes in the mix of income earned in different tax jurisdictions and the impact of certain tax credits.
Net Income
Net income increased by \$XX million, or XX%, from \$XXX million in 20X1 to \$XXX million in 20X2.
Liquidity and Capital Resources
Cash Flows
Net cash provided by operating activities was \$XXX million in 20X2, compared to \$XXX million in 20X1. The increase in net cash provided by operating activities was primarily due to higher net income and favorable changes in working capital.
Net cash used in investing activities was \$XXX million in 20X2, compared to \$XXX million in 20X1. This increase was primarily due to higher capital expenditures for property, plant, and equipment, as well as increased investments in research and development.
Net cash used in financing activities was \$XXX million in 20X2, compared to \$XXX million in 20X1. This increase was primarily due to higher debt repayments and dividend payments.
Working Capital
Working capital, defined as current assets minus current liabilities, was \$XXX million at December 31, 20X2, compared to \$XXX million at December 31, 20X1. The decrease in working capital was primarily due to higher accounts payable and accrued expenses.
Long-Term Debt
Our long-term debt was \$XXX million at December 31, 20X2, compared to \$XXX million at December 31, 20X1. The increase in long-term debt was primarily due to borrowings under our revolving credit facility.
Capital Expenditures
Capital expenditures were \$XXX million in 20X2, compared to \$XXX million in 20X1. Our capital expenditures were primarily used for investments in property, plant, and equipment, including data center expansion and upgrades to our manufacturing facilities.
Contractual Obligations
The following table summarizes our significant contractual obligations as of December 31, 20X2:
| Obligation Type | Less Than 1 Year | 1-3 Years | 3-5 Years | More Than 5 Years | Total |
|---|---|---|---|---|---|
| Long-Term Debt | \$XXX | \$XXX | \$XXX | \$XXX | \$XXX |
| Capital Lease Obligations | \$XX | \$XX | \$XX | \$XX | \$XX |
| Operating Lease Obligations | \$XX | \$XX | \$XX | \$XX | \$XX |
| Purchase Obligations | \$XX | \$XX | \$XX | \$XX | \$XX |
| Total | \$XXX | \$XXX | \$XXX | \$XXX | \$XXX |
Off-Balance Sheet Arrangements
We do not have any off-balance sheet arrangements that are reasonably likely to have a material current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources.
Recent Accounting Pronouncements
Refer to Note 2, "Recent Accounting Pronouncements," in the Notes to Consolidated Financial Statements for a discussion of recently issued accounting pronouncements.
Quantitative and Qualitative Disclosures About Market Risk
We are exposed to market risks, primarily related to interest rate fluctuations and foreign currency exchange rates.
Interest Rate Risk
We are exposed to interest rate risk through our outstanding debt obligations. A hypothetical 100 basis point increase in interest rates would have resulted in an increase in our annual interest expense of approximately \$X million in 20X2.
Foreign Currency Exchange Rate Risk
We conduct business internationally and are therefore exposed to foreign currency exchange rate fluctuations. Our revenues and expenses are denominated in various currencies. Unrealized gains and losses from the translation of foreign currency financial statements into U.S. dollars are recorded in other comprehensive income. Realized gains and losses from foreign currency transactions are recognized in earnings.
Forward-Looking Statements
Our actual results may differ materially from those projected in the forward-looking statements due to a variety of factors, including, but not limited to, the risks and uncertainties discussed in Item 1A, "Risk Factors," of this report, and other factors described from time to time in our filings with the Securities and Exchange Commission. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
Risk Factors
The following risk factors describe risks and uncertainties that could cause our actual results to differ materially from those contained in forward-looking statements.
Risks Related to Our Business and Industry
- Intense Competition: The markets in which we operate are highly competitive, with numerous companies offering similar products and services. This competition could lead to price reductions, reduced profit margins, and loss of market share.
- Rapid Technological Change: The technology industry is characterized by rapid technological change. If we are unable to adapt to new technologies or develop innovative products and services, our business could be adversely affected.
- Economic Downturns: Global and regional economic conditions can significantly impact customer spending on technology products and services. A prolonged economic downturn could lead to reduced demand for our offerings and negatively affect our financial performance.
- Disruption of Our Supply Chain: We rely on a global network of suppliers for the components and materials used in our hardware products. Any disruption to our supply chain, whether due to geopolitical events, natural disasters, or supplier issues, could impact our ability to manufacture and deliver products.
- Changes in Customer Demand: Evolving customer preferences and industry trends can alter demand for specific products and services. Failure to anticipate and respond to these changes could negatively impact our sales and profitability.
- Reliance on Key Personnel: Our success depends on our ability to attract and retain highly skilled personnel, particularly in research and development, sales, and management. Competition for talent in the technology sector is intense.
- Data Security and Privacy Breaches: As a technology company, we handle sensitive customer data. A significant data security breach or privacy violation could result in substantial costs, reputational damage, and legal liabilities.
- Intellectual Property Infringement: We may be subject to claims that our products or services infringe on the intellectual property rights of others. Such claims could lead to costly litigation and potential injunctions.
- Regulatory and Legal Compliance: We operate in a complex regulatory environment. Changes in laws and regulations related to data privacy, cybersecurity, and international trade could impact our operations and profitability.
- Sales Cycles and Customer Concentration: Our sales cycles can be long, and a significant portion of our revenue may come from a small number of large customers. The loss of a major customer or a significant reduction in their spending could have a material adverse effect on our business.
Risks Related to Our Financial Condition
- Indebtedness: We have outstanding debt, and our ability to service this debt may be affected by our future financial performance. An inability to meet our debt obligations could have serious consequences.
- Fluctuations in Foreign Currency Exchange Rates: Our international operations expose us to currency exchange rate fluctuations, which can impact our reported financial results and the value of our foreign investments.
- Changes in Tax Laws: Changes in tax laws in the jurisdictions where we operate could adversely affect our profitability and cash flows.
Risks Related to Our Stock
- Volatility of Stock Price: The trading price of our common stock may be subject to significant volatility due to various factors, including market conditions, our financial performance, and investor sentiment.
- Dilution: Future issuances of our stock, including those related to stock options or acquisitions, could dilute the ownership interest of existing stockholders.
Other Risks
- Natural Disasters and Pandemics: Events such as natural disasters or global pandemics could disrupt our operations, supply chains, and employee productivity, leading to adverse financial impacts.
- Geopolitical Events: Global political instability, trade disputes, and international conflicts can create uncertainty and impact our business operations, particularly those with international exposure.
Purchases of Equity Securities by the Issuer and Affiliated Purchasers
Not applicable.
Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
Our common stock is traded on the Nasdaq Global Select Market under the symbol "[TICKER SYMBOL]".
The number of record holders of our common stock as of [Date] was approximately [Number].
Dividends: We have not declared or paid any cash dividends on our common stock. We currently intend to retain all earnings for the growth and development of our business.
Issuer Purchases of Equity Securities: The following table provides information regarding our purchases of our common stock during the [Quarter] of the fiscal year ended December 31, 20X2:
| Period | Average Price Paid per Share | Total Number of Shares Purchased | Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs | Maximum Number of Shares or Dollar Amount that May Yet Be Purchased Under the Plans or Programs |
|---|---|---|---|---|
| [Quarter] [Year] | \$XX.XX | XXX,XXX | XXX,XXX | XXX,XXX |
| [Quarter] [Year] | \$XX.XX | XXX,XXX | XXX,XXX | XXX,XXX |
| [Quarter] [Year] | \$XX.XX | XXX,XXX | XXX,XXX | XXX,XXX |
| [Quarter] [Year] | \$XX.XX | XXX,XXX | XXX,XXX | XXX,XXX |
| Total for Fiscal Year [Year] | \$XX.XX | X,XXX,XXX | X,XXX,XXX | X,XXX,XXX |
Selected Financial Data
The following table presents our selected financial data for the years ended December 31, 20X2, 20X1, 20X0, 20X-1, and 20X-2.
| Item | 20X2 | 20X1 | 20X0 | 20X-1 | 20X-2 |
|---|---|---|---|---|---|
| Revenue | \$XXX | \$XXX | \$XXX | \$XXX | \$XXX |
| Cost of Revenue | \$XXX | \$XXX | \$XXX | \$XXX | \$XXX |
| Gross Profit | \$XXX | \$XXX | \$XXX | \$XXX | \$XXX |
| Operating Expenses | \$XXX | \$XXX | \$XXX | \$XXX | \$XXX |
| Operating Income | \$XXX | \$XXX | \$XXX | \$XXX | \$XXX |
| Interest Expense, Net | \$XX | \$XX | \$XX | \$XX | \$XX |
| Income Tax Expense | \$XX | \$XX | \$XX | \$XX | \$XX |
| Net Income | \$XXX | \$XXX | \$XXX | \$XXX | \$XXX |
| Earnings per Share (Basic) | \$X.XX | \$X.XX | \$X.XX | \$X.XX | \$X.XX |
| Earnings per Share (Diluted) | \$X.XX | \$X.XX | \$X.XX | \$X.XX | \$X.XX |
| Total Assets | \$XXX | \$XXX | \$XXX | \$XXX | \$XXX |
| Long-Term Debt | \$XXX | \$XXX | \$XXX | \$XXX | \$XXX |
| Total Stockholders’ Equity | \$XXX | \$XXX | \$XXX | \$XXX | \$XXX |
Executive Officers of the Registrant
The following table sets forth information concerning the executive officers of the Registrant as of [Date].
| Name | Age | Position |
|---|---|---|
| [Name] | [Age] | Chief Executive Officer |
| [Name] | [Age] | Chief Financial Officer |
| [Name] | [Age] | Chief Technology Officer |
| [Name] | [Age] | Chief Operating Officer |
| [Name] | [Age] | Senior Vice President, Sales |
| [Name] | [Age] | Senior Vice President, Marketing |
| [Name] | [Age] | Senior Vice President, General Counsel |
There are no family relationships between any of our executive officers. There are no arrangements or understandings between any two or more executive officers, or between any executive officer and any other person, pursuant to which any of the individuals named above was selected as an executive officer or designated to serve as such. Executive officers are elected annually by the Board of Directors and serve at the pleasure of the Board of Directors.
II. Controls and Procedures
Disclosure Controls and Procedures
We maintain disclosure controls and procedures that are designed to ensure that information required to be disclosed by us in the reports that we file or submit under the Securities Exchange Act of 1934 is recorded, processed, summarized, and disclosed within the time periods specified in the Securities and Exchange Commission's rules and forms.
Our management, with the participation of our principal executive officer and principal financial officer, has evaluated the effectiveness of our disclosure controls and procedures (as defined in Rule 13a-15(e) and 15d-15(e) under the Exchange Act) as of the end of the period covered by this report. Based on this evaluation, our principal executive officer and principal financial officer have concluded that, as of such date, our disclosure controls and procedures were effective.
Management’s Report on Internal Control Over Financial Reporting
Our management is responsible for establishing and maintaining adequate internal control over financial reporting. We have assessed our internal control over financial reporting as of December 31, 20X2, based on the criteria established in Internal Control—Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). Based on this assessment, management has concluded that our internal control over financial reporting was effective as of December 31, 20X2.
Changes in Internal Control Over Financial Reporting
There were no changes in our internal control over financial reporting during the fiscal quarter ended December 31, 20X2, that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.
III. Market Information
Principal Market
Our common stock is traded on the Nasdaq Global Select Market under the symbol "[TICKER SYMBOL]".
Stock Prices
The following table sets forth the high and low sales prices for our common stock on the Nasdaq Global Select Market for the periods indicated.
| Period | High | Low |
|---|---|---|
| [Quarter] [Year] | \$XX.XX | \$XX.XX |
| [Quarter] [Year] | \$XX.XX | \$XX.XX |
| [Quarter] [Year] | \$XX.XX | \$XX.XX |
| [Quarter] [Year] | \$XX.XX | \$XX.XX |
Dividends
We have not declared or paid any cash dividends on our common stock. We currently intend to retain all earnings for the growth and development of our business.
Holders of Common Equity
The number of record holders of our common stock as of [Date] was approximately [Number].
Recent Sales of Unregistered Securities; Use of Proceeds and Miscellaneous Sales of Registered Securities
Stock Performance
The following graph compares the cumulative total stockholder return on our common stock with the cumulative total returns of the Nasdaq Composite Index and a peer group index for the period commencing [Start Date] and ending on [End Date].
[Insert Stock Performance Graph Here]
Equity Compensation Plan Information
The following table provides information about equity compensation plans under which we have issued securities during the fiscal year ended December 31, 20X2.
| Plan Category | Number of Securities to be Issued upon Exercise of Outstanding Options, Warrants and Rights | Weighted-Average Exercise Price of Outstanding Options, Warrants and Rights | Number of Securities to be Issued upon Exercise of Outstanding Options, Warrants and Rights | Weighted-Average Exercise Price of Outstanding Options, Warrants and Rights | Total Number of Securities to be Issued upon Exercise of Outstanding Options, Warrants and Rights | Weighted-Average Exercise Price of Outstanding Options, Warrants and Rights |
|---|---|---|---|---|---|---|
| Equity compensation plans approved by security holders | XXX,XXX | \$XX.XX | XXX,XXX | \$XX.XX | XXX,XXX | \$XX.XX |
| Equity compensation plans not approved by security holders | --- | --- | --- | --- | --- | --- |
| Total | XXX,XXX | \$XX.XX | XXX,XXX | \$XX.XX | XXX,XXX | \$XX.XX |
IV. Exhibits
The following exhibits are filed as part of this report:
| Exhibit Number | Description |
|---|---|
| 3.1 | Amended and Restated Certificate of Incorporation of the Registrant. |
| 3.2 | Amended and Restated Bylaws of the Registrant. |
| 10.1 | [Material contract, e.g., Employment Agreement] |
| 10.2 | [Material contract, e.g., Lease Agreement] |
| 10.3 | [Material contract, e.g., License Agreement] |
| 10.4 | [Material contract, e.g., Loan Agreement] |
| 10.5 | [Material contract, e.g., Stock Purchase Agreement] |
| 10.6 | [Material contract, e.g., Severance Agreement] |
| 10.7 | [Material contract, e.g., Consulting Agreement] |
| 10.8 | [Material contract, e.g., Partnership Agreement] |
| 10.9 | [Material contract, e.g., Technology License Agreement] |
| 10.10 | [Material contract, e.g., Distribution Agreement] |
| 10.11 | [Material contract, e.g., Non-Disclosure Agreement] |
| 10.12 | [Material contract, e.g., Service Agreement] |
| 10.13 | [Material contract, e.g., Supply Agreement] |
| 10.14 | [Material contract, e.g., Marketing Agreement] |
| 10.15 | [Material contract, e.g., Joint Venture Agreement] |
| 10.16 | [Material contract, e.g., Acquisition Agreement] |
| 10.17 | [Material contract, e.g., Investment Agreement] |
| 10.18 | [Material contract, e.g., Collaboration Agreement] |
| 10.19 | [Material contract, e.g., Development Agreement] |
| 10.20 | [Material contract, e.g., Reseller Agreement] |
| 10.21 | [Material contract, e.g., Trademark License Agreement] |
| 10.22 | [Material contract, e.g., Patent License Agreement] |
| 10.23 | [Material contract, e.g., Software Development Kit (SDK) License Agreement] |
| 10.24 | [Material contract, e.g., Terms of Service Agreement] |
| 10.25 | [Material contract, e.g., Privacy Policy] |
| 10.26 | [Material contract, e.g., Employee Stock Purchase Plan] |
| 10.27 | [Material contract, e.g., Executive Incentive Compensation Plan] |
| 10.28 | [Material contract, e.g., Directors and Officers Liability Insurance Policy] |
| 10.29 | [Material contract, e.g., Indemnification Agreement] |
| 10.30 | [Material contract, e.g., Transition Services Agreement] |
| 10.31 | [Material contract, e.g., Shareholder Agreement] |
| 10.32 | [Material contract, e.g., Loan Facility Agreement] |
| 10.33 | [Material contract, e.g., Security Agreement] |
| 10.34 | [Material contract, e.g., Pledge Agreement] |
| 10.35 | [Material contract, e.g., Guarantee Agreement] |
| 10.36 | [Material contract, e.g., Intercreditor Agreement] |
| 10.37 | [Material contract, e.g., Easement Agreement] |
| 10.38 | [Material contract, e.g., Sublease Agreement] |
| 10.39 | [Material contract, e.g., Franchise Agreement] |
| 10.40 | [Material contract, e.g., Non-Compete Agreement] |
| 10.41 | [Material contract, e.g., Non-Solicitation Agreement] |
| 10.42 | [Material contract, e.g., Confidentiality Agreement] |
| 10.43 | [Material contract, e.g., Escrow Agreement] |
| 10.44 | [Material contract, e.g., Option Agreement] |
| 10.45 | [Material contract, e.g., Letter of Intent] |
| 10.46 | [Material contract, e.g., Term Sheet] |
| 10.47 | [Material contract, e.g., Commitment Letter] |
| 10.48 | [Material contract, e.g., Agreement and Plan of Merger] |
| 10.49 | [Material contract, e.g., Asset Purchase Agreement] |
| 10.50 | [Material contract, e.g., Stock Purchase Agreement] |
| 10.51 | [Material contract, e.g., Investment Advisory Agreement] |
| 10.52 | [Material contract, e.g., Administration Agreement] |
| 10.53 | [Material contract, e.g., Custody Agreement] |
| 10.54 | [Material contract, e.g., Trustee Agreement] |
| 10.55 | [Material contract, e.g., Indenture] |
| 10.56 | [Material contract, e.g., Subscription Agreement] |
| 10.57 | [Material contract, e.g., Joint Development Agreement] |
| 10.58 | [Material contract, e.g., Manufacturing Agreement] |
| 10.59 | [Material contract, e.g., Marketing and Distribution Agreement] |
| 10.60 | [Material contract, e.g., Technology Collaboration Agreement] |
| 10.61 | [Material contract, e.g., Software License and Services Agreement] |
| 10.62 | [Material contract, e.g., Cloud Services Agreement] |
| 10.63 | [Material contract, e.g., Consulting Services Agreement] |
| 10.64 | [Material contract, e.g., Managed Services Agreement] |
| 10.65 | [Material contract, e.g., Non-Exclusive License Agreement] |
| 10.66 | [Material contract, e.g., Exclusive License Agreement] |
| 10.67 | [Material contract, e.g., sublicense Agreement] |
| 10.68 | [Material contract, e.g., Patent Assignment Agreement] |
| 10.69 | [Material contract, e.g., Trademark Assignment Agreement] |
| 10.70 | [Material contract, e.g., Copyright Assignment Agreement] |
| 10.71 | [Material contract, e.g., Non-Disclosure and Non-Circumvention Agreement] |
| 10.72 | [Material contract, e.g., Joint Marketing Agreement] |
| 10.73 | [Material contract, e.g., Co-Branding Agreement] |
| 10.74 | [Material contract, e.g., Affiliation Agreement] |
| 10.75 | [Material contract, e.g., Referral Agreement] |
| 10.76 | [Material contract, e.g., Agency Agreement] |
| 10.77 | [Material contract, e.g., Management Services Agreement] |
| 10.78 | [Material contract, e.g., Sales Agency Agreement] |
| 10.79 | [Material contract, e.g., Independent Contractor Agreement] |
| 10.80 | [Material contract, e.g., Employee Non-Compete Agreement] |
| 10.81 | [Material contract, e.g., Employee Non-Solicitation Agreement] |
| 10.82 | [Material contract, e.g., Employee Confidentiality Agreement] |
| 10.83 | [Material contract, e.g., Employee Invention Assignment Agreement] |
| 10.84 | [Material contract, e.g., Director Indemnification Agreement] |
| 10.85 | [Material contract, e.g., Officer Indemnification Agreement] |
| 10.86 | [Material contract, e.g., Indemnification Clause in Bylaws] |
| 10.87 | [Material contract, e.g., Shareholders’ Rights Agreement] |
| 10.88 | [Material contract, e.g., Voting Agreement] |
| 10.89 | [Material contract, e.g., Right of First Refusal Agreement] |
| 10.90 | [Material contract, e.g., Put Option Agreement] |
| 10.91 | [Material contract, e.g., Call Option Agreement] |
| 10.92 | [Material contract, e.g., Stock Option Grant Agreement] |
| 10.93 | [Material contract, e.g., Restricted Stock Unit Agreement] |
| 10.94 | [Material contract, e.g., Performance Share Award Agreement] |
| 10.95 | [Material contract, e.g., Deferred Compensation Agreement] |
| 10.96 | [Material contract, e.g., Retention Agreement] |
| 10.97 | [Material contract, e.g., Severance Plan] |
| 10.98 | [Material contract, e.g., Change in Control Severance Plan] |
| 10.99 | [Material contract, e.g., Employee Benefits Plan] |
| 10.100 | [Material contract, e.g., Health and Welfare Benefits Plan] |
| 10.101 | [Material contract, e.g., Retirement Savings Plan] |
| 10.102 | [Material contract, e.g., Employee Stock Purchase Plan] |
| 10.103 | [Material contract, e.g., Non-Qualified Deferred Compensation Plan] |
| 10.104 | [Material contract, e.g., Annual Incentive Plan] |
| 10.105 | [Material contract, e.g., Long-Term Incentive Plan] |
| 10.106 | [Material contract, e.g., Cash Bonus Plan] |
| 10.107 | [Material contract, e.g., Sales Commission Plan] |
| 10.108 | [Material contract, e.g., Commission Sharing Agreement] |
| 10.109 | [Material contract, e.g., Finder’s Fee Agreement] |
| 10.110 | [Material contract, e.g., Brokerage Agreement] |
| 10.111 | [Material contract, e.g., Real Estate Purchase Agreement] |
| 10.112 | [Material contract, e.g., Ground Lease] |
| 10.113 | [Material contract, e.g., Construction Contract] |
| 10.114 | [Material contract, e.g., Service Level Agreement] |
| 10.115 | [Material contract, e.g., Independent Contractor Agreement] |
| 10.116 | [Material contract, e.g., Strategic Alliance Agreement] |
| 10.117 | [Material contract, e.g., Memorandum of Understanding] |
| 10.118 | [Material contract, e.g., Letter of Intent] |
| 10.119 | [Material contract, e.g., Term Sheet] |
| 10.120 | [Material contract, e.g., Shareholder Rights Plan] |
| 10.121 | [Material contract, e.g., Registration Rights Agreement] |
| 10.122 | [Material contract, e.g., Joint Development Agreement] |
| 10.123 | [Material contract, e.g., Technology Transfer Agreement] |
| 10.124 | [Material contract, e.g., OEM Agreement] |
| 10.125 | [Material contract, e.g., Value-Added Reseller (VAR) Agreement] |
| 10.126 | [Material contract, e.g., Master Services Agreement] |
| 10.127 | [Material contract, e.g., Statement of Work] |
| 10.128 | [Material contract, e.g., Transition Services Agreement] |
| 10.129 | [Material contract, e.g., Consulting Services Agreement] |
| 10.130 | [Material contract, e.g., Professional Services Agreement] |
| 10.131 | [Material contract, e.g., Maintenance and Support Agreement] |
| 10.132 | [Material contract, e.g., Software as a Service (SaaS) Agreement] |
| 10.133 | [Material contract, e.g., Platform as a Service (PaaS) Agreement] |
| 10.134 | [Material contract, e.g., Infrastructure as a Service (IaaS) Agreement] |
| 10.135 | [Material contract, e.g., Disaster Recovery as a Service (DRaaS) Agreement] |
| 10.136 | [Material contract, e.g., Security as a Service (SECaaS) Agreement] |
| 10.137 | [Material contract, e.g., Network as a Service (NaaS) Agreement] |
| 10.138 | [Material contract, e.g., Desktop as a Service (DaaS) Agreement] |
| 10.139 | [Material contract, e.g., Unified Communications as a Service (UCaaS) Agreement] |
| 10.140 | [Material contract, e.g., Collaboration as a Service (CaaS) Agreement] |
| 10.141 | [Material contract, e.g., Customer Relationship Management (CRM) Services Agreement] |
| 10.142 | [Material contract, e.g., Enterprise Resource Planning (ERP) Services Agreement] |
| 10.143 | [Material contract, e.g., Human Capital Management (HCM) Services Agreement] |
| 10.144 | [Material contract, e.g., Supply Chain Management (SCM) Services Agreement] |
| 10.145 | [Material contract, e.g., Financial Management Services Agreement] |
| 10.146 | [Material contract, e.g., Business Intelligence (BI) Services Agreement] |
| 10.147 | [Material contract, e.g., Data Analytics Services Agreement] |
| 10.148 | [Material contract, e.g., Big Data Services Agreement] |
| 10.149 | [Material contract, e.g., Artificial Intelligence (AI) Services Agreement] |
| 10.150 | [Material contract, e.g., Machine Learning (ML) Services Agreement] |
| 10.151 | [Material contract, e.g., Internet of Things (IoT) Services Agreement] |
| 10.152 | [Material contract, e.g., Blockchain Services Agreement] |
| 10.153 | [Material contract, e.g., Cybersecurity Services Agreement] |
| 10.154 | [Material contract, e.g., IT Strategy Consulting Agreement] |
| 10.155 | [Material contract, e.g., IT Infrastructure Consulting Agreement] |
| 10.156 | [Material contract, e.g., IT Security Consulting Agreement] |
| 10.157 | [Material contract, e.g., IT Compliance Consulting Agreement] |
| 10.158 | [Material contract, e.g., IT Transformation Consulting Agreement] |
| 10.159 | [Material contract, e.g., IT Outsourcing Agreement] |
| 10.160 | [Material contract, e.g., IT Staff Augmentation Agreement] |
| 10.161 | [Material contract, e.g., IT Managed Services Agreement] |
| 10.162 | [Material contract, e.g., IT Support Agreement] |
| 10.163 | [Material contract, e.g., IT Procurement Agreement] |
| 10.164 | [Material contract, e.g., IT Vendor Management Agreement] |
| 10.165 | [Material contract, e.g., IT Project Management Agreement] |
| 10.166 | [Material contract, e.g., IT Risk Management Agreement] |
| 10.167 | [Material contract, e.g., IT Business Continuity Agreement] |
| 10.168 | [Material contract, e.g., IT Disaster Recovery Agreement] |
| 10.169 | [Material contract, e.g., IT Sustainability Agreement] |
| 10.170 | [Material contract, e.g., IT Innovation Agreement] |
| 10.171 | [Material contract, e.g., IT Strategy Workshop Agreement] |
| 10.172 | [Material contract, e.g., IT Training Agreement] |
| 10.173 | [Material contract, e.g., IT Process Improvement Agreement] |
| 10.174 | [Material contract, e.g., IT Governance Agreement] |
| 10.175 | [Material contract, e.g., IT Architecture Agreement] |
| 10.176 | [Material contract, e.g., IT Development Agreement] |
| 10.177 | [Material contract, e.g., IT Testing Agreement] |
| 10.178 | [Material contract, e.g., IT Deployment Agreement] |
| 10.179 | [Material contract, e.g., IT Maintenance Agreement] |
| 10.180 | [Material contract, e.g., IT Support and Maintenance Agreement] |
| 10.181 | [Material contract, e.g., IT Service Management (ITSM) Agreement] |
| 10.182 | [Material contract, e.g., IT Asset Management (ITAM) Agreement] |
| 10.183 | [Material contract, e.g., IT Configuration Management (ITCM) Agreement] |
| 10.184 | [Material contract, e.g., IT Change Management (ITCM) Agreement] |
| 10.185 | [Material contract, e.g., IT Release Management (ITRM) Agreement] |
| 10.186 | [Material contract, e.g., IT Incident Management (ITIM) Agreement] |
| 10.187 | [Material contract, e.g., IT Problem Management (ITPM) Agreement] |
| 10.188 | [Material contract, e.g., IT Service Request Management (ITSRM) Agreement] |
| 10.189 | [Material contract, e.g., IT Access Management (ITAM) Agreement] |
| 10.190 | [Material contract, e.g., IT Identity and Access Management (IAM) Agreement] |
| 10.191 | [Material contract, e.g., IT Privilege Access Management (PAM) Agreement] |
| 10.192 | [Material contract, e.g., IT Security Operations Center (SOC) Agreement] |
| 10.193 | [Material contract, e.g., IT Threat Intelligence Agreement] |
| 10.194 | [Material contract, e.g., IT Vulnerability Management Agreement] |
| 10.195 | [Material contract, e.g., IT Penetration Testing Agreement] |
| 10.196 | [Material contract, e.g., IT Compliance and Audit Agreement] |
| 10.197 | [Material contract, e.g., IT Regulatory Compliance Agreement] |
| 10.198 | [Material contract, e.g., IT Data Protection Agreement] |
| 10.199 | [Material contract, e.g., IT Data Privacy Agreement] |
| 10.200 | [Material contract, e.g., IT Data Governance Agreement] |
| 10.201 | [Material contract, e.g., IT Data Management Agreement] |
| 10.202 | [Material contract, e.g., IT Data Storage Agreement] |
| 10.203 | [Material contract, e.g., IT Data Archiving Agreement] |
| 10.204 | [Material contract, e.g., IT Data Retention Agreement] |
| 10.205 | [Material contract, e.g., IT Data Destruction Agreement] |
| 10.206 | [Material contract, e.g., IT Data Migration Agreement] |
| 10.207 | [Material contract, e.g., IT Data Integration Agreement] |
| 10.208 | [Material contract, e.g., IT Data Visualization Agreement] |
| 10.209 | [Material contract, e.g., IT Data Reporting Agreement] |
| 10.210 | [Material contract, e.g., IT Data Warehousing Agreement] |
| 10.211 | [Material contract, e.g., IT Data Lake Agreement] |
| 10.212 | [Material contract, e.g., IT Data Lakehouse Agreement] |
| 10.213 | [Material contract, e.g., IT Master Data Management (MDM) Agreement] |
| 10.214 | [Material contract, e.g., IT Product Data Management (PDM) Agreement] |
| 10.215 | [Material contract, e.g., IT Document Management System (DMS) Agreement] |
| 10.216 | [Material contract, e.g., IT Content Management System (CMS) Agreement] |
| 10.217 | [Material contract, e.g., IT Workflow Automation Agreement] |
| 10.218 | [Material contract, e.g., IT Business Process Management (BPM) Agreement] |
| 10.219 | [Material contract, e.g., IT Quality Management System (QMS) Agreement] |
| 10.220 | [Material contract, e.g., IT Project Portfolio Management (PPM) Agreement] |
| 10.221 | [Material contract, e.g., IT Resource Management (ITRM) Agreement] |
| 10.222 | [Material contract, e.g., IT Budgeting and Forecasting Agreement] |
| 10.223 | [Material contract, e.g., IT Financial Planning and Analysis (FP&A) Agreement] |
| 10.224 | [Material contract, e.g., IT Performance Management Agreement] |
| 10.225 | [Material contract, e.g., IT Balanced Scorecard Agreement] |
| 10.226 | [Material contract, e.g., IT Key Performance Indicators (KPIs) Agreement] |
| 10.227 | [Material contract, e.g., IT Strategic Planning Agreement] |
| 10.228 | [Material contract, e.g., IT Operational Planning Agreement] |
| 10.229 | [Material contract, e.g., IT Business Planning Agreement] |
| 10.230 | [Material contract, e.g., IT Demand Planning Agreement] |
| 10.231 | [Material contract, e.g., IT Capacity Planning Agreement] |
| 10.232 | [Material contract, e.g., IT Resource Allocation Agreement] |
| 10.233 | [Material contract, e.g., IT Project Prioritization Agreement] |
| 10.234 | [Material contract, e.g., IT Project Charter Agreement] |
| 10.235 | [Material contract, e.g., IT Project Plan Agreement] |
| 10.236 | [Material contract, e.g., IT Project Schedule Agreement] |
| 10.237 | [Material contract, e.g., IT Project Budget Agreement] |
| 10.238 | [Material contract, e.g., IT Project Risk Management Agreement] |
| 10.239 | [Material contract, e.g., IT Project Quality Assurance Agreement] |
| 10.240 | [Material contract, e.g., IT Project Stakeholder Management Agreement] |
| 10.241 | [Material contract, e.g., IT Project Communication Plan Agreement] |
| 10.242 | [Material contract, e.g., IT Project Closure Agreement] |
| 10.243 | [Material contract, e.g., IT Portfolio Management Agreement] |
| 10.244 | [Material contract, e.g., IT Program Management Agreement] |
| 10.245 | [Material contract, e.g., IT Change Control Agreement] |
| 10.246 | [Material contract, e.g., IT Release Control Agreement] |
| 10.247 | [Material contract, e.g., IT Configuration Control Agreement] |
| 10.248 | [Material contract, e.g., IT Access Control Agreement] |
| 10.249 | [Material contract, e.g., IT Authorization Agreement] |
| 10.250 | [Material contract, e.g., IT Authentication Agreement] |
| 10.251 | [Material contract, e.g., IT Encryption Agreement] |
| 10.252 | [Material contract, e.g., IT Data Loss Prevention (DLP) Agreement] |
| 10.253 | [Material contract, e.g., IT Security Monitoring Agreement] |
| 10.254 | [Material contract, e.g., IT Incident Response Agreement] |
| 10.255 | [Material contract, e.g., IT Forensics Agreement] |
| 10.256 | [Material contract, e.g., IT Compliance Audit Agreement] |
| 10.257 | [Material contract, e.g., IT Regulatory Compliance Agreement] |
| 10.258 | [Material contract, e.g., IT Data Privacy Policy Agreement] |
| 10.259 | [Material contract, e.g., IT Data Protection Policy Agreement] |
| 10.260 | [Material contract, e.g., IT Data Governance Policy Agreement] |
| 10.261 | [Material contract, e.g., IT Data Management Policy Agreement] |
| 10.262 | [Material contract, e.g., IT Data Security Policy Agreement] |
| 10.263 | [Material contract, e.g., IT Data Retention Policy Agreement] |
| 10.264 | [Material contract, e.g., IT Data Archival Policy Agreement] |
| 10.265 | [Material contract, e.g., IT Data Destruction Policy Agreement] |
| 10.266 | [Material contract, e.g., IT Data Access Policy Agreement] |
| 10.267 | [Material contract, e.g., IT Data Usage Policy Agreement] |
| 10.268 | [Material contract, e.g., IT Data Sharing Policy Agreement] |
| 10.269 | [Material contract, e.g., IT Data Classification Policy Agreement] |
| 10.270 | [Material contract, e.g., IT Data Discovery Policy Agreement] |
| 10.271 | [Material contract, e.g., IT Data Quality Policy Agreement] |
| 10.272 | [Material contract, e.g., IT Data Lineage Policy Agreement] |
| 10.273 | [Material contract, e.g., IT Data Provenance Policy Agreement] |
| 10.274 | [Material contract, e.g., IT Data Model Policy Agreement] |
| 10.275 | [Material contract, e.g., IT Data Dictionary Policy Agreement] |
| 10.276 | [Material contract, e.g., IT Data Glossary Policy Agreement] |
| 10.277 | [Material contract, e.g., IT Data Catalog Policy Agreement] |
| 10.278 | [Material contract, e.g., IT Data Governance Framework Agreement] |
| 10.279 | [Material contract, e.g., IT Data Stewardship Agreement] |
| 10.280 | [Material contract, e.g., IT Data Ownership Agreement] |
| 10.281 | [Material contract, e.g., IT Data Security Officer Agreement] |
| 10.282 | [Material contract, e.g., IT Data Privacy Officer Agreement] |
| 10.283 | [Material contract, e.g., IT Compliance Officer Agreement] |
| 10.284 | [Material contract, e.g., IT Risk Manager Agreement] |
| 10.285 | [Material contract, e.g., IT Business Continuity Manager Agreement] |
| 10.286 | [Material contract, e.g., IT Disaster Recovery Manager Agreement] |
| 10.287 | [Material contract, e.g., IT Sustainability Officer Agreement] |
| 10.288 | [Material contract, e.g., IT Innovation Lead Agreement] |
| 10.289 | [Material contract, e.g., IT Strategy Lead Agreement] |
| 10.290 | [Material contract, e.g., IT Operations Lead Agreement] |
| 10.291 | [Material contract, e.g., IT Development Lead Agreement] |
| 10.292 | [Material contract, e.g., IT Architecture Lead Agreement] |
| 10.293 | [Material contract, e.g., IT Security Lead Agreement] |
| 10.294 | [Material contract, e.g., IT Compliance Lead Agreement] |
| 10.295 | [Material contract, e.g., IT Project Manager Agreement] |
| 10.296 | [Material contract, e.g., IT Program Manager Agreement] |
| 10.297 | [Material contract, e.g., IT Portfolio Manager Agreement] |
| 10.298 | [Material contract, e.g., IT Business Analyst Agreement] |
| 10.299 | [Material contract, e.g., IT Systems Administrator Agreement] |
| 10.300 | [Material contract, e.g., IT Network Administrator Agreement] |
| 10.301 | [Material contract, e.g., IT Database Administrator Agreement] |
| 10.302 | [Material contract, e.g., IT Software Developer Agreement] |
| 10.303 | [Material contract, e.g., IT Quality Assurance Tester Agreement] |
| 10.304 | [Material contract, e.g., IT Technical Writer Agreement] |
| 10.305 | [Material contract, e.g., IT Support Specialist Agreement] |
| 10.306 | [Material contract, e.g., IT Help Desk Technician Agreement] |
| 10.307 | [Material contract, e.g., IT Field Service Technician Agreement] |
| 10.308 | [Material contract, e.g., IT Security Analyst Agreement] |
| 10.309 | [Material contract, e.g., IT Compliance Analyst Agreement] |
| 10.310 | [Material contract, e.g., IT Risk Analyst Agreement] |
| 10.311 | [Material contract, e.g., IT Business Continuity Analyst Agreement] |
| 10.312 | [Material contract, e.g., IT Disaster Recovery Analyst Agreement] |
| 10.313 | [Material contract, e.g., IT Sustainability Analyst Agreement] |
| 10.314 | [Material contract, e.g., IT Innovation Analyst Agreement] |
| 10.315 | [Material contract, e.g., IT Strategy Analyst Agreement] |
| 10.316 | [Material contract, e.g., IT Operations Analyst Agreement] |
| 10.317 | [Material contract, e.g., IT Development Analyst Agreement] |
| 10.318 | [Material contract, e.g., IT Architecture Analyst Agreement] |
| 10.319 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.320 | [Material contract, e.g., IT Compliance Architect Agreement] |
| 10.321 | [Material contract, e.g., IT Risk Architect Agreement] |
| 10.322 | [Material contract, e.g., IT Business Continuity Architect Agreement] |
| 10.323 | [Material contract, e.g., IT Disaster Recovery Architect Agreement] |
| 10.324 | [Material contract, e.g., IT Sustainability Architect Agreement] |
| 10.325 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.326 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.327 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.328 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.329 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.330 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.331 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.332 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.333 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.334 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.335 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.336 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.337 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.338 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.339 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.340 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.341 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.342 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.343 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.344 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.345 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.346 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.347 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.348 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.349 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.350 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.351 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.352 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.353 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.354 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.355 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.356 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.357 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.358 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.359 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.360 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.361 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.362 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.363 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.364 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.365 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.366 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.367 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.368 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.369 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.370 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.371 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.372 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.373 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.374 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.375 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.376 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.377 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.378 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.379 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.380 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.381 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.382 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.383 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.384 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.385 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.386 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.387 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.388 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.389 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.390 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.391 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.392 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.393 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.394 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.395 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.396 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.397 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.398 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.399 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.400 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.401 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.402 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.403 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.404 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.405 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.406 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.407 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.408 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.409 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.410 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.411 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.412 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.413 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.414 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.415 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.416 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.417 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.418 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.419 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.420 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.421 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.422 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.423 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.424 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.425 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.426 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.427 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.428 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.429 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.430 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.431 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.432 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.433 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.434 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.435 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.436 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.437 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.438 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.439 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.440 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.441 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.442 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.443 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.444 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.445 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.446 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.447 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.448 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.449 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.450 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.451 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.452 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.453 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.454 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.455 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.456 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.457 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.458 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.459 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.460 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.461 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.462 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.463 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.464 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.465 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.466 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.467 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.468 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.469 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.470 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.471 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.472 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.473 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.474 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.475 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.476 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.477 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.478 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.479 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.480 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.481 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.482 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.483 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.484 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.485 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.486 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.487 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.488 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.489 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.490 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.491 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.492 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.493 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.494 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.495 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.496 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.497 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.498 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.499 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.500 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.501 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.502 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.503 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.504 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.505 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.506 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.507 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.508 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.509 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.510 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.511 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.512 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.513 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.514 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.515 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.516 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.517 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.518 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.519 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.520 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.521 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.522 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.523 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.524 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.525 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.526 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.527 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.528 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.529 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.530 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.531 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.532 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.533 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.534 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.535 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.536 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.537 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.538 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.539 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.540 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.541 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.542 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.543 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.544 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.545 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.546 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.547 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.548 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.549 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.550 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.551 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.552 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.553 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.554 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.555 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.556 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.557 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.558 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.559 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.560 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.561 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.562 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.563 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.564 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.565 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.566 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.567 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.568 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.569 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.570 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.571 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.572 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.573 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.574 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.575 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.576 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.577 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.578 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.579 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.580 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.581 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.582 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.583 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.584 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.585 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.586 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.587 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.588 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.589 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.590 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.591 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.592 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.593 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.594 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.595 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.596 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.597 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.598 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.599 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.600 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.601 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.602 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.603 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.604 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.605 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.606 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.607 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.608 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.609 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.610 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.611 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.612 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.613 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.614 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.615 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.616 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.617 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.618 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.619 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.620 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.621 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.622 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.623 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.624 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.625 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.626 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.627 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.628 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.629 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.630 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.631 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.632 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.633 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.634 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.635 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.636 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.637 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.638 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.639 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.640 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.641 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.642 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.643 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.644 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.645 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.646 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.647 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.648 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.649 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.650 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.651 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.652 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.653 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.654 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.655 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.656 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.657 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.658 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.659 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.660 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.661 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.662 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.663 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.664 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.665 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.666 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.667 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.668 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.669 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.670 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.671 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.672 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.673 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.674 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.675 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.676 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.677 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.678 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.679 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.680 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.681 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.682 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.683 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.684 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.685 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.686 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.687 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.688 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.689 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.690 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.691 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.692 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.693 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.694 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.695 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.696 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.697 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.698 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.699 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.700 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.701 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.702 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.703 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.704 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.705 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.706 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.707 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.708 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.709 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.710 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.711 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.712 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.713 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.714 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.715 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.716 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.717 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.718 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.719 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.720 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.721 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.722 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.723 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.724 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.725 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.726 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.727 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.728 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.729 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.730 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.731 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.732 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.733 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.734 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.735 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.736 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.737 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.738 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.739 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.740 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.741 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.742 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.743 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.744 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.745 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.746 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.747 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.748 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.749 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.750 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.751 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.752 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.753 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.754 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.755 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.756 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.757 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.758 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.759 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.760 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.761 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.762 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.763 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.764 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.765 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.766 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.767 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.768 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.769 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.770 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.771 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.772 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.773 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.774 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.775 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.776 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.777 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.778 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.779 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.780 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.781 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.782 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.783 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.784 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.785 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.786 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.787 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.788 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.789 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.790 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.791 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.792 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.793 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.794 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.795 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.796 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.797 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.798 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.799 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.800 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.801 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.802 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.803 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.804 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.805 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.806 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.807 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.808 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.809 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.810 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.811 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.812 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.813 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.814 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.815 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.816 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.817 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.818 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.819 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.820 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.821 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.822 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.823 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.824 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.825 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.826 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.827 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.828 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.829 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.830 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.831 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.832 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.833 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.834 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.835 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.836 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.837 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.838 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.839 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.840 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.841 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.842 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.843 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.844 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.845 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.846 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.847 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.848 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.849 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.850 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.851 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.852 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.853 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.854 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.855 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.856 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.857 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.858 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.859 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.860 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.861 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.862 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.863 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.864 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.865 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.866 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.867 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.868 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.869 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.870 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.871 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.872 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.873 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.874 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.875 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.876 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.877 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.878 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.879 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.880 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.881 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.882 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.883 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.884 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.885 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.886 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.887 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.888 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.889 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.890 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.891 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.892 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.893 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.894 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.895 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.896 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.897 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.898 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.899 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.900 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.901 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.902 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.903 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.904 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.905 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.906 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.907 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.908 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.909 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.910 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.911 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.912 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.913 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.914 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.915 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.916 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.917 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.918 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.919 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.920 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.921 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.922 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.923 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.924 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.925 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.926 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.927 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.928 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.929 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.930 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.931 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.932 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.933 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.934 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.935 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.936 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.937 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.938 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.939 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.940 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.941 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.942 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.943 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.944 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.945 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.946 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.947 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.948 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.949 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.950 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.951 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.952 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.953 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.954 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.955 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.956 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.957 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.958 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.959 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.960 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.961 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.962 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.963 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.964 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.965 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.966 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.967 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.968 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.969 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.970 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.971 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.972 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.973 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.974 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.975 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.976 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.977 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.978 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.979 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.980 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.981 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.982 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.983 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.984 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.985 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.986 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.987 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.988 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.989 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.990 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.991 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.992 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.993 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.994 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.995 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.996 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.997 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.998 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.999 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.1000 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.1001 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.1002 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.1003 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.1004 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.1005 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.1006 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.1007 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.1008 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.1009 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.1010 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.1011 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.1012 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.1013 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.1014 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.1015 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.1016 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.1017 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.1018 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.1019 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.1020 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.1021 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.1022 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.1023 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.1024 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.1025 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.1026 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.1027 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.1028 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.1029 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.1030 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.1031 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.1032 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.1033 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.1034 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.1035 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.1036 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.1037 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.1038 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.1039 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.1040 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.1041 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.1042 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.1043 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.1044 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.1045 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.1046 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.1047 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.1048 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.1049 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.1050 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.1051 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.1052 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.1053 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.1054 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.1055 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.1056 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.1057 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.1058 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.1059 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.1060 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.1061 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.1062 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.1063 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.1064 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.1065 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.1066 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.1067 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.1068 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.1069 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.1070 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.1071 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.1072 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.1073 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.1074 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.1075 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.1076 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.1077 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.1078 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.1079 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.1080 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.1081 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.1082 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.1083 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.1084 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.1085 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.1086 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.1087 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.1088 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.1089 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.1090 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.1091 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.1092 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.1093 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.1094 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.1095 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.1096 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.1097 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.1098 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.1099 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.1100 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.1101 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.1102 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.1103 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.1104 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.1105 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.1106 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.1107 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.1108 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.1109 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.1110 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.1111 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.1112 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.1113 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.1114 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.1115 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.1116 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.1117 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.1118 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.1119 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.1120 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.1121 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.1122 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.1123 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.1124 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.1125 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.1126 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.1127 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.1128 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.1129 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.1130 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.1131 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.1132 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.1133 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.1134 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.1135 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.1136 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.1137 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.1138 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.1139 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.1140 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.1141 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.1142 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.1143 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.1144 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.1145 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.1146 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.1147 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.1148 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.1149 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.1150 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.1151 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.1152 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.1153 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.1154 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.1155 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.1156 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.1157 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.1158 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.1159 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.1160 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.1161 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.1162 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.1163 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.1164 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.1165 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.1166 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.1167 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.1168 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.1169 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.1170 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.1171 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.1172 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.1173 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.1174 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.1175 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.1176 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.1177 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.1178 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.1179 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.1180 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.1181 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.1182 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.1183 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.1184 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.1185 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.1186 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.1187 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.1188 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.1189 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.1190 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.1191 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.1192 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.1193 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.1194 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.1195 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.1196 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.1197 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.1198 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.1199 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.1200 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.1201 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.1202 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.1203 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.1204 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.1205 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.1206 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.1207 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.1208 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.1209 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.1210 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.1211 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.1212 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.1213 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.1214 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.1215 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.1216 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.1217 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.1218 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.1219 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.1220 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.1221 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.1222 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.1223 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.1224 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.1225 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.1226 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.1227 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.1228 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.1229 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.1230 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.1231 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.1232 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.1233 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.1234 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.1235 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.1236 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.1237 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.1238 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.1239 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.1240 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.1241 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.1242 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.1243 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.1244 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.1245 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.1246 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.1247 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.1248 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.1249 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.1250 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.1251 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.1252 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.1253 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.1254 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.1255 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.1256 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.1257 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.1258 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.1259 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.1260 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.1261 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.1262 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.1263 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.1264 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.1265 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.1266 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.1267 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.1268 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.1269 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.1270 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.1271 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.1272 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.1273 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.1274 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.1275 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.1276 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.1277 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.1278 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.1279 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.1280 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.1281 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.1282 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.1283 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.1284 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.1285 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.1286 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.1287 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.1288 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.1289 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.1290 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.1291 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.1292 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.1293 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.1294 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.1295 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.1296 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.1297 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.1298 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.1299 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.1300 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.1301 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.1302 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.1303 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.1304 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.1305 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.1306 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.1307 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.1308 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.1309 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.1310 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.1311 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.1312 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.1313 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.1314 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.1315 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.1316 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.1317 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.1318 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.1319 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.1320 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.1321 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.1322 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.1323 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.1324 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.1325 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.1326 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.1327 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.1328 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.1329 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.1330 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.1331 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.1332 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.1333 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.1334 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.1335 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.1336 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.1337 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.1338 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.1339 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.1340 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.1341 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.1342 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.1343 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.1344 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.1345 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.1346 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.1347 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.1348 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.1349 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.1350 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.1351 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.1352 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.1353 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.1354 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.1355 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.1356 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.1357 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.1358 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.1359 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.1360 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.1361 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.1362 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.1363 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.1364 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.1365 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.1366 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.1367 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.1368 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.1369 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.1370 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.1371 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.1372 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.1373 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.1374 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.1375 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.1376 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.1377 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.1378 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.1379 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.1380 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.1381 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.1382 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.1383 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.1384 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.1385 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.1386 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.1387 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.1388 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.1389 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.1390 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.1391 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.1392 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.1393 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.1394 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.1395 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.1396 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.1397 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.1398 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.1399 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.1400 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.1401 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.1402 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.1403 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.1404 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.1405 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.1406 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.1407 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.1408 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.1409 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.1410 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.1411 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.1412 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.1413 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.1414 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.1415 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.1416 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.1417 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.1418 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.1419 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.1420 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.1421 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.1422 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.1423 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.1424 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.1425 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.1426 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.1427 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.1428 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.1429 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.1430 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.1431 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.1432 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.1433 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.1434 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.1435 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.1436 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.1437 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.1438 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.1439 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.1440 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.1441 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.1442 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.1443 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.1444 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.1445 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.1446 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.1447 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.1448 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.1449 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.1450 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.1451 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.1452 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.1453 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.1454 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.1455 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.1456 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.1457 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.1458 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.1459 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.1460 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.1461 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.1462 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.1463 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.1464 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.1465 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.1466 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.1467 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.1468 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.1469 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.1470 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.1471 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.1472 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.1473 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.1474 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.1475 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.1476 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.1477 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.1478 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.1479 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.1480 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.1481 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.1482 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.1483 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.1484 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.1485 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.1486 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.1487 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.1488 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.1489 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.1490 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.1491 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.1492 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.1493 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.1494 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.1495 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.1496 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.1497 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.1498 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.1499 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.1500 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.1501 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.1502 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.1503 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.1504 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.1505 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.1506 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.1507 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.1508 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.1509 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.1510 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.1511 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.1512 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.1513 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.1514 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.1515 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.1516 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.1517 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.1518 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.1519 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.1520 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.1521 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.1522 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.1523 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.1524 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.1525 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.1526 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.1527 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.1528 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.1529 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.1530 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.1531 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.1532 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.1533 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.1534 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.1535 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.1536 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.1537 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.1538 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.1539 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.1540 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.1541 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.1542 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.1543 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.1544 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.1545 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.1546 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.1547 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.1548 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.1549 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.1550 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.1551 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.1552 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.1553 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.1554 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.1555 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.1556 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.1557 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.1558 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.1559 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.1560 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.1561 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.1562 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.1563 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.1564 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.1565 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.1566 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.1567 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.1568 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.1569 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.1570 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.1571 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.1572 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.1573 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.1574 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.1575 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.1576 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.1577 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.1578 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.1579 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.1580 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.1581 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.1582 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.1583 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.1584 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.1585 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.1586 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.1587 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.1588 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.1589 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.1590 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.1591 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.1592 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.1593 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.1594 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.1595 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.1596 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.1597 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.1598 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.1599 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.1600 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.1601 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.1602 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.1603 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.1604 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.1605 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.1606 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.1607 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.1608 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.1609 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.1610 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.1611 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.1612 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.1613 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.1614 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.1615 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.1616 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.1617 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.1618 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.1619 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.1620 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.1621 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.1622 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.1623 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.1624 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.1625 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.1626 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.1627 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.1628 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.1629 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.1630 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.1631 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.1632 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.1633 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.1634 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.1635 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.1636 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.1637 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.1638 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.1639 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.1640 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.1641 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.1642 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.1643 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.1644 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.1645 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.1646 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.1647 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.1648 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.1649 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.1650 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.1651 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.1652 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.1653 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.1654 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.1655 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.1656 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.1657 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.1658 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.1659 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.1660 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.1661 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.1662 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.1663 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.1664 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.1665 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.1666 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.1667 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.1668 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.1669 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.1670 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.1671 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.1672 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.1673 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.1674 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.1675 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.1676 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.1677 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.1678 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.1679 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.1680 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.1681 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.1682 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.1683 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.1684 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.1685 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.1686 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.1687 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.1688 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.1689 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.1690 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.1691 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.1692 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.1693 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.1694 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.1695 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.1696 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.1697 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.1698 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.1699 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.1700 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.1701 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.1702 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.1703 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.1704 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.1705 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.1706 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.1707 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.1708 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.1709 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.1710 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.1711 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.1712 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.1713 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.1714 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.1715 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.1716 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.1717 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.1718 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.1719 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.1720 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.1721 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.1722 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.1723 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.1724 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.1725 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.1726 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.1727 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.1728 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.1729 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.1730 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.1731 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.1732 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.1733 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.1734 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.1735 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.1736 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.1737 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.1738 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.1739 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.1740 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.1741 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.1742 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.1743 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.1744 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.1745 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.1746 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.1747 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.1748 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.1749 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.1750 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.1751 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.1752 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.1753 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.1754 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.1755 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.1756 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.1757 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.1758 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.1759 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.1760 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.1761 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.1762 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.1763 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.1764 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.1765 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.1766 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.1767 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.1768 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.1769 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.1770 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.1771 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.1772 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.1773 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.1774 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.1775 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.1776 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.1777 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.1778 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.1779 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.1780 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.1781 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.1782 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.1783 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.1784 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.1785 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.1786 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.1787 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.1788 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.1789 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.1790 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.1791 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.1792 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.1793 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.1794 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.1795 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.1796 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.1797 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.1798 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.1799 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.1800 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.1801 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.1802 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.1803 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.1804 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.1805 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.1806 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.1807 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.1808 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.1809 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.1810 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.1811 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.1812 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.1813 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.1814 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.1815 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.1816 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.1817 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.1818 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.1819 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.1820 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.1821 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.1822 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.1823 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.1824 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.1825 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.1826 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.1827 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.1828 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.1829 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.1830 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.1831 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.1832 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.1833 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.1834 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.1835 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.1836 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.1837 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.1838 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.1839 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.1840 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.1841 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.1842 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.1843 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.1844 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.1845 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.1846 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.1847 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.1848 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.1849 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.1850 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.1851 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.1852 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.1853 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.1854 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.1855 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.1856 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.1857 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.1858 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.1859 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.1860 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.1861 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.1862 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.1863 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.1864 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.1865 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.1866 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.1867 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.1868 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.1869 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.1870 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.1871 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.1872 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.1873 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.1874 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.1875 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.1876 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.1877 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.1878 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.1879 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.1880 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.1881 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.1882 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.1883 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.1884 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.1885 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.1886 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.1887 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.1888 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.1889 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.1890 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.1891 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.1892 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.1893 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.1894 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.1895 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.1896 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.1897 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.1898 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.1899 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.1900 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.1901 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.1902 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.1903 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.1904 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.1905 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.1906 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.1907 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.1908 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.1909 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.1910 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.1911 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.1912 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.1913 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.1914 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.1915 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.1916 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.1917 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.1918 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.1919 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.1920 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.1921 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.1922 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.1923 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.1924 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.1925 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.1926 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.1927 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.1928 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.1929 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.1930 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.1931 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.1932 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.1933 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.1934 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.1935 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.1936 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.1937 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.1938 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.1939 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.1940 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.1941 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.1942 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.1943 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.1944 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.1945 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.1946 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.1947 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.1948 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.1949 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.1950 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.1951 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.1952 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.1953 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.1954 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.1955 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.1956 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.1957 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.1958 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.1959 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.1960 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.1961 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.1962 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.1963 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.1964 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.1965 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.1966 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.1967 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.1968 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.1969 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.1970 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.1971 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.1972 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.1973 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.1974 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.1975 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.1976 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.1977 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.1978 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.1979 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.1980 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.1981 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.1982 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.1983 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.1984 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.1985 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.1986 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.1987 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.1988 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.1989 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.1990 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.1991 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.1992 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.1993 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.1994 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.1995 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.1996 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.1997 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.1998 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.1999 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.2000 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.2001 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.2002 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.2003 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.2004 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.2005 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.2006 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.2007 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.2008 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.2009 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.2010 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.2011 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.2012 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.2013 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.2014 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.2015 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.2016 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.2017 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.2018 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.2019 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.2020 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.2021 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.2022 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.2023 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.2024 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.2025 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.2026 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.2027 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.2028 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.2029 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.2030 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.2031 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.2032 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.2033 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.2034 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.2035 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.2036 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.2037 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.2038 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.2039 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.2040 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.2041 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.2042 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.2043 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.2044 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.2045 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.2046 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.2047 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.2048 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.2049 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.2050 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.2051 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.2052 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.2053 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.2054 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.2055 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.2056 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.2057 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.2058 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.2059 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.2060 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.2061 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.2062 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.2063 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.2064 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.2065 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.2066 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.2067 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.2068 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.2069 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.2070 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.2071 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.2072 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.2073 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.2074 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.2075 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.2076 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.2077 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.2078 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.2079 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.2080 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.2081 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.2082 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.2083 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.2084 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.2085 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.2086 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.2087 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.2088 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.2089 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.2090 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.2091 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.2092 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.2093 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.2094 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.2095 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.2096 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.2097 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.2098 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.2099 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.2100 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.2101 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.2102 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.2103 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.2104 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.2105 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.2106 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.2107 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.2108 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.2109 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.2110 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.2111 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.2112 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.2113 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.2114 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.2115 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.2116 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.2117 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.2118 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.2119 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.2120 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.2121 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.2122 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.2123 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.2124 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.2125 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.2126 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.2127 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.2128 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.2129 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.2130 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.2131 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.2132 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.2133 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.2134 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.2135 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.2136 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.2137 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.2138 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.2139 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.2140 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.2141 | [Material contract, e.g., IT Strategy Architect Agreement] |
| 10.2142 | [Material contract, e.g., IT Operations Architect Agreement] |
| 10.2143 | [Material contract, e.g., IT Development Architect Agreement] |
| 10.2144 | [Material contract, e.g., IT Solutions Architect Agreement] |
| 10.2145 | [Material contract, e.g., IT Enterprise Architect Agreement] |
| 10.2146 | [Material contract, e.g., IT Cloud Architect Agreement] |
| 10.2147 | [Material contract, e.g., IT Security Architect Agreement] |
| 10.2148 | [Material contract, e.g., IT Network Architect Agreement] |
| 10.2149 | [Material contract, e.g., IT Database Architect Agreement] |
| 10.2150 | [Material contract, e.g., IT Application Architect Agreement] |
| 10.2151 | [Material contract, e.g., IT Infrastructure Architect Agreement] |
| 10.2152 | [Material contract, e.g., IT Data Architect Agreement] |
| 10.2153 | [Material contract, e.g., IT Business Process Architect Agreement] |
| 10.2154 | [Material contract, e.g., IT Transformation Architect Agreement] |
| 10.2155 | [Material contract, e.g., IT Innovation Architect Agreement] |
| 10.21# RAPPORT SPECIAL DES COMMISSAIRES AUX COMPTES SUR LES CONVENTIONS REGLEMENTEES |
Assemblée générale d'approbation des comptes de l'exercice clos le 31 décembre 2021
BM&A implid Audit
11, Rue de Laborde
75008 PARIS
79, Cours Vitton
69006 LYON
PRECIA S.A.
Société Anonyme
Siège social : 104 Route du Pesage – 07000 Veyras
Capital social : € 2.866.520
Exercice clos le 31 décembre 2021
A l’assemblée générale de la société PRECIA S.A.,
En notre qualité de commissaires aux comptes de votre société, nous vous présentons notre rapport sur les conventions réglementées.
Il nous appartient de vous communiquer, sur la base des informations qui nous ont été données, les caractéristiques, les modalités essentielles ainsi que les motifs justifiant de l’intérêt pour la société des conventions dont nous avons été avisés ou que nous aurions découverts à l'occasion de notre mission, sans avoir à nous prononcer sur leur utilité et leur bien-fondé ni à rechercher l'existence d'autres conventions.
Il vous appartient, selon les termes de l'article R. 225-58 du code de commerce, d'apprécier l’intérêt qui s'attachait à la conclusion de ces conventions en vue de leur approbation.
Par ailleurs, il nous appartient, le cas échéant, de vous communiquer les informations prévues à l’article R.225-58 du code de commerce relatives à l'exécution, au cours de l'exercice écoulé, des conventions déjà approuvées par l'assemblée générale.
Nous avons mis en œuvre les diligences que nous avons estimé nécessaires au regard de la doctrine professionnelle de la Compagnie nationale des commissaires aux comptes relative à cette mission. Ces diligences ont consisté à vérifier la concordance des informations qui nous ont été données avec les documents de base dont elles sont issues.
BM&A implid Audit
11, Rue de Laborde
75008 PARIS
79, Cours Vitton
69006 LYON
I. Conventions et engagements soumis à l’approbation de l’assemblée générale
Nous vous informons qu’il ne nous a été donné avis d'aucune convention autorisée et conclue au cours de l'exercice écoulé à soumettre l'approbation de l'assemblée générale en application des dispositions de l'article L. 225-86 du code de commerce.
II. Conventions déjà approuvées par l'assemblée générale
En application de l'article R.225-57 du code de commerce, nous avons été informés que l'exécution des conventions suivantes, déjà approuvées par l'assemblée générale au cours d'exercices antérieurs, s'est poursuivie au cours de l'exercice écoulé.
1) Prestations d’animation et de gestion – SAS Groupe Escharavil
* Personne concernée : Mme Anne Marie ESCHARAVIL, Présidente du Conseil de surveillance de la SA PRECIA et Présidente du directoire de la SA GROUPE ESCHARAVIL.
* Modalités : La SA GROUPE ESCHARAVIL facture des frais d'animation et de gestion.
* Autorisation : La convention a été autorisée lors du Conseil de surveillance du 13/04/2017 et réexaminée lors du Conseil de surveillance du 15/05/2020.
* Application : Au titre de l’exercice 2021 la SA PRECIA a comptabilisé une charge de 510 000 euros HT.
2) Rémunération de la Présidente du Conseil de surveillance
* Personne concernée : Mme Anne Marie ESCHARAVIL, Présidente du Conseil de surveillance de la SA PRECIA.
* Modalités : Votre Présidente renonce à percevoir une rémunération au titre de son mandat social.
* Autorisation : La convention a été autorisée lors du Conseil de surveillance du 13/04/2017 et réexaminée lors du Conseil de surveillance du 15/05/2020.
* Application : Au titre de l’exercice 2021, aucune rémunération n’a été versée sur l’exercice.
3) Rémunération du Vice-Président du Conseil de surveillance
* Personne concernée : M. Luc ESCHARAVIL, Vice-Président du Conseil de surveillance de la SA PRECIA.
* Modalités : Le mandat de Vice-Président du Conseil de surveillance n’est pas rémunéré.
* Autorisation : La convention a été autorisée lors du Conseil de surveillance du 13/04/2017 et réexaminée lors du Conseil de surveillance du 15/05/2020.
* Application : Au titre de l’exercice 2021, aucune rémunération n'a été versée sur l'exercice.
4) Caution - PRECIA MOLEN Maroc
* Personne concernée : M. René COLOMBEL, Président du directoire de la SA PRECIA et co-gérant de la société PRECIA MOLEN MAROC SARL, filiale à 60 % de la SA PRECIA.
* Modalités : Votre société s'est engagée à fournir à PRECIA MOLEN MAROC un soutien financier et technique dans le cadre d'un marché.
* Application : Votre société s'est portée caution de PRECIA MOLEN MAROC à hauteur de 600 000 euros auprès de la Société Générale, garante du marché. La caution n'a pas été appelée sur l'exercice 2021.
5) Avance en prêt - PRECIA MOLEN Ireland
* Personne concernée : M. René COLOMBEL, Président du directoire de la SA PRECIA et membre du Board de PRECIA MOLEN IRELAND, filiale à 40 % de la SA PRECIA.
* Modalités : Votre société avait consenti à PRECIA MOLEN IRELAND un prêt présentant un solde de 222 400 euros au 31/12/2020, rémunéré au taux euribor 3 mois + 1,5 % par an. Ce prêt a été remboursé au cours de l’exercice 2021.
* Application : Le produit constaté sur l'exercice 2021 est de 869,51 euros HT.
Lyon et Paris, le 29 avril 2022
Les Commissaires aux Comptes
implid Audit
Bruno Guillemois
Associé
BM&A
Alexis Thura
Associé