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These risk factors are discussed in detail in our Form 10-K filed for the year ended December 31st, 2023 and in our definitive proxy statement filed with the Securities and ExchangeCommission on October 31st, 2024, as updated in our subsequent reports filed with the Securities and ExchangeCommission.
Securities and ExchangeCommission, the Brazilian Comissao Valores Mobiliarios. This helps dilute fixed costs, particularly as we have excess logistics capacity while capital intensity is very low, which implies a very healthy return on invested capital. It could be interesting for us? On the capex, we've updated.
During this conference call, management will make forward-looking statements based on current expectations and assumptions, including statements regarding our business outlook and prospects and our recently complete acquisition of Teads. On February 3rd, we closed our acquisition of Teads. With that, let me turn the call over to David.
The matters discussed in today's conference call may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including projections, estimates and descriptions of future events. The Stock Advisor service has more than quadrupled the return of S&P 500 since 2002*.
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