Item 7.01. Regulation FD Disclosure.
On
The Company is taking these steps to streamline its sales and customer services organization. The restructuring includes the implementation of a new cost structure that will remove layers of management to bring the Company in line with what it believes are industry best practices.
The actions today are expected to result in an incremental restructuring cash
charge of approximately
The Company reiterates its previously announced fourth quarter and full fiscal year 2023 guidance ranges for revenue and non-GAAP net income (loss) per share. The Company expects to provide the financial results of its fourth quarter and full year fiscal 2023 on its next earnings call to be announced in the coming weeks.
Disclaimer
The furnishing of the disclosure above is not an admission as to the materiality
of any information therein. The information is summary information that is
intended to be considered in the context of more complete information included
in the Company's filings with the
The information in this Item 7.01 of this Current Report on Form 8-K attached
hereto shall not be deemed "filed" for purposes of Section 18 of the Securities
Exchange Act of 1934, as amended, or otherwise subject to the liabilities of
that section or Sections 11 and 12(a)(2) of the Securities Act of 1933, as
amended. The information contained in this Item 7.01 to this Current Report
shall not be incorporated by reference into any filing with the
Forward Looking Statements
This Item 7.01 contains forward-looking statements about the Company's expected financial performance. The statements are based on management's current expectations, estimates and projections, are not guarantees of future performance, and are subject to certain risks, uncertainties and other factors, some of which are beyond the Company's control and are difficult to predict, including, but not limited to, changes in the Company's operating results and financial condition.
The forward-looking statements contained in this Form 8-K are also subject to
other risks and uncertainties, including those described in the Company's Annual
Report on Form 10-K for the period ended
Stockholders of the Company are cautioned not to place undue reliance on the Company's forward-looking statements, which speak only as of the date such statements are made. The Company does not undertake any obligation to publicly update any forward-looking statements to reflect events, circumstances or new information after the date of this filing, or to reflect the occurrence of unanticipated events.
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