← Back to TIL filing summaryThis is the extracted source text from the SEC filing. Formatting may differ from the original document.
RISK FACTORS
There are no material changes to the risk factors set forth in Part I, Item 1A, Risk Factors in our Annual Report on Form 10-K for the year ended December 31, 2025, except for the following.
We have incurred significant losses related to our Tarzana, California facility and may incur additional significant losses related to the facility in the future.
To date, we have recorded $58.4 million in impairment charges on long-lived assets related to our facility in Tarzana, California. Significant impairment charges related to our Tarzana facility were recorded in the third quarter of 2023, the first quarter of 2025 and, most recently, in the second quarter of 2026. We may incur additional losses due to impairment charges related to the Tarzana facility. In addition, in the event the Tarzana facility is sold, we may not recover its carrying value and may suffer additional significant losses. Further, it is possible that we will not be able to sell the facility for an amount equal to or greater than the amount of secured debt encumbering the facility.