Fri, Sep 6, 8:02 PM (105 days ago)
Nuburu, Inc. filed its Amendment No. 3 to the Form 10-K for the fiscal year ending December 31, 2023, primarily to update certifications required by SEC regulations. The company's financial performance reflects a net loss of approximately $20.7 million for 2023, up from $14.1 million in 2022, with total revenues increasing to $2.1 million driven by additional shipments of its blue laser systems. Operating expenses surged to $18.2 million, attributed to higher research and development costs and public company expenses. Nuburu's accumulated deficit reached approximately $81.9 million. The company anticipates continued investment in manufacturing and R&D to support growth, despite ongoing net losses and cash flow challenges. Risks include reliance on a limited customer base, potential delisting from NYSE American, and challenges in scaling operations. Nuburu's blue laser technology aims to capture a growing market, with a serviceable addressable market projected to expand significantly. The company has a robust patent portfolio, but competition and market acceptance remain critical factors for future success.