The risk section of an S-1, should be taken with a grain of salt. Half the items there are simply cookie cutter templates that simply provide protection if their stock goes to 0 and they get sued. Here's is the exact same line from coinbase's S1

> Due to our limited operating history, it may be difficult to evaluate our business and future prospects, and we may not be able to achieve or maintain profitability in any given period. [1]

[1] https://www.sec.gov/Archives/edgar/data/1679788/000162828021...

You will also find "risks" such as "if we fail to add new customers, our business will fail."