GETY · Getty Images Holdings, Inc. · Earnings Call Transcripts & Audio

Substantial doubt about the company's ability to continue as a going concern.

“Management has concluded that the magnitude and timing of the current accrued and future obligations, together with the Company’s limited available liquidity following the substantial cash expenditures described above, give rise to substantial doubt about the Company’s ability to continue as a going concern for one year after the date these unaudited condensed consolidated financial statements are issued. Management is actively assessing plans intended to improve the Company’s liquidity position and has engaged Guggenheim Securities, LLC to serve as financial advisor in connection with the Company’s evaluation of strategic financing alternatives and balance sheet management initiatives. However, these plans are uncertain and dependent on future events and circumstances that are outside the Company’s control, including the timing and ultimate resolution of pending Warrant Litigation and the availability of financing or other strategic alternatives on acceptable terms or at all. Accordingly, management cannot conclude that it is probable that such plans will be effectively implemented and will mitigate the conditions and events that raise substantial doubt about the Company’s ability to continue as a going concern. Therefore, substantial doubt about the Company’s ability to continue as a going concern has not been alleviated.”