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from  these  efforts  would  face  the  lengthy,  costly,  and  uncertain  development  and  regulatory  pathways 
characteristic of the life sciences industry, and may never generate revenue.

If  we  fail  to  manage  our  technical  operations  infrastructure,  or  experience  service  outages, 
interruptions,  or  delays  in  the  deployment  of  our  models,  platform,  and  applications,  our 
results of operations may be adversely affected.

Our systems and operations are subject to disruptions resulting from changes to our technology infrastructure. 
We have experienced, and may continue to experience, service interruptions or degraded performance due to 
software deployments, configuration changes, system updates, and new model introductions. These disruptions 
may  adversely  affect  our  ability  to  service  customers  and  could  result  in  lost  revenue,  customer  attrition,  or 
reputational harm. Further, our mitigation efforts and processes may be insufficient to prevent or minimize the 
impact  of  system  changes  on  service  availability,  and  we  may  lack  adequate  testing,  rollback  procedures,  or 
monitoring  capabilities  to  detect  and  remediate  issues  arising  from  system  changes  in  a  timely  manner.  For 
example, in March 2026, we experienced a service outage and periods of degraded performance resulting from 
a  combination  of  factors,  including  a  significant  and  rapid  increase  in  usage  demand,  compute  constraints  in 
certain components of our infrastructure, and other factors. Although we have taken and continue to take steps 
to  address  these  issues,  including  migrating  to  more  scalable  infrastructure  and  enhancing  our  operational 
processes, similar incidents may occur in the future.

In addition, continued growth in our customer base could place additional demands on our models, platform, 
and applications and could cause or exacerbate slowdowns or interrupt the availability of our models, platform, 
and  applications.  If  there  is  a  substantial  increase  in  the  volume  of  usage  of  our  models,  platform,  and 
applications,  we  will  be  required  to  further  expand  and  upgrade  our  technology  and  infrastructure.  Any 
substantial  increase  in  usage  will  also  require  increased  compute.  Because  our  compute  is  procured  well  in 
advance based on projected demand across all workloads, a significant acceleration in customer demand could 
cause aggregate capacity to fall short of the levels required to support all of our workloads concurrently at the 
scale we intend. If our committed compute proves insufficient, or the composition of our committed compute 
portfolio  differs  materially  from  our  demand  forecasts,  we  may  experience  service  disruptions,  degraded 
response times, or limitations on customer and user access to our models, platform, and applications, while also 
experiencing  constraints  on  the  compute  available  to  support  ongoing  model  development.  There  can  be  no 
assurance  that  we  will  be  able  to  accurately  project  the  rate  or  timing  of  increases,  if  any,  in  the  use  of  our 
models,  platform,  and  applications  or  expand  and  upgrade  our  systems  and  infrastructure  to  accommodate 
such increases on a timely basis. If our users are not able to access our models, platform, and applications or 
encounter slowdowns, we may lose customers or partners. In order to remain competitive, we must continue to 
enhance and improve the responsiveness, functionality, and features of our models, platform, and applications 
and the underlying compute infrastructure supporting them. Our disaster recovery plan may not be sufficient to 
address all aspects or any unanticipated consequence or incidents, and our insurance may not be sufficient to 
compensate us for the losses that could occur.

Moreover, Amazon, Google, and Microsoft provide substantial portions of the compute infrastructure that we 
use  to  host  our  models,  platform,  and  applications  and  many  of  the  internal  tools  we  use  to  operate  our 
business. Any significant disruption of, limitation of our access to, or other interference with this infrastructure 
would negatively impact our operations, degrade the availability and performance of our models, platform, and 
applications, and could cause us to lose customers who are unable to access or experience difficulties accessing 
our models, platform, and applications. Even absent a full disruption, the level of service provided by Amazon, 
Google,  and  Microsoft  could  affect  the  availability  or  speed  of  our  models,  platform,  and  applications,  which 
may also impact the usage of, and our customers’ satisfaction with, our models, platform, and applications and 
could seriously harm our business and reputation. 

Any  transition  of  the  services  and  infrastructure  currently  provided  by  Amazon,  Google,  and  Microsoft  to 
another CSP would require significant time and expense and could further disrupt or degrade delivery of our 
models,  platform,  and  applications.  Such  a  transition  could  require  us  to  re-architect  portions  of  our 
infrastructure,  retrain  or  migrate  models  and  large  datasets,  incur  data  transfer  and  duplication  costs,  and 
adapt  our  systems  to  new  tools  and  configurations,  which  could  result  in  operational  delays  and  reduced 
performance during the transition period. If Amazon, Google, or Microsoft increases pricing terms, terminates 
or  seeks  to  terminate  our  contractual  relationship,  whether  for  competitive  reasons  or  otherwise,  establishes 
more favorable relationships with our competitors, or changes or interprets its terms of service or policies in a 

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