Risk factors

Growth depends on Shark and Ninja brands, continued product innovation, new markets, and consumer demand.

SoundHound highlights long product development cycles of six months to two years and heavy customer concentration in unbilled receivables. The company reported $248.5 million in cash against negative operating cash flows of $98.2 million in 2025. Federal net operating loss carryforwards expanded to $892.9 million.

New risks center on ELEVIDYS and SRP-9004 fatal liver events, boxed warnings, and resulting adoption uncertainty.

New risks highlight commercial dependence on key products like ZURZUVAE, ONAPGO supply constraints, and recent executive orders impacting pricing.

Added system-wide bank contagion, credit/debit card standard, technology, and AI risks. Removed specific 2023 bank failure and interbank risk descriptions. Reworded credit loss methodologies, real estate cycles, acquisition, and cybersecurity vendor risks.

ThredUp lost its smaller reporting company status, increasing compliance costs and disclosure obligations.

Tidewater expanded its risk disclosures to highlight specific threats from oil and gas oversupply, international credit exposure, collective bargaining, and widespread global operations.

U.S. tariffs and geopolitical events involving Colombia and Venezuela dominate the new risks. Colombia credit rating downgrades and rising fiscal deficits elevate sovereign risk. Supply chain shifts toward U.S.-sourced aluminum help mitigate tariff impacts.

Alpha Teknova expanded manufacturing facilities, increased equity and stock reserve disclosures, and refined controlling shareholder and regulatory risk disclosures.

New $300 million 7.625% debt and floating-rate borrowing capacity create greater refinancing and cash-service pressure.

TriMas is planning to sell its Aerospace business for approximately $1.2 billion in net proceeds.

Tyra Biosciences added risks covering broader biopharmaceutical uncertainties, EU IVDR compliance for companion diagnostics, and accelerated approval pathways. The company dropped specific references to 2027 cash runway estimates and FDA inspection postponements.