Risk factors

Updated tax risks to reflect the July 2025 One Big Beautiful Bill Act. Revised trade policy risks to detail August and October 2025 tariff actions on China, Mexico, and Canada. Refreshed 2025 investment return figures for preneed funeral and cemetery trust funds.

Claritev added new risks concerning international expansion, global events, and cloud infrastructure consolidation on Oracle Cloud Infrastructure.

Cytek added new risk disclosures regarding trade tariffs, AI technology integration, and material weaknesses in internal controls for 2024.

Centuri Holdings faces new risks regarding tax liabilities and NOL limits following its separation from Southwest Gas Holdings. The company deals with ongoing activist investor engagement by the Icahn Group holding a 10 percent stake.

International sales grew from 48% to 50% of consolidated amounts in 2025.

MYQORZO’s December 2025 approval shifts risk toward commercialization, including market acceptance, REMS compliance, manufacturing and profitability.

DigitalBridge added multiple new risk factors regarding the pending merger and related regulatory and litigation hurdles.

Tariff exposures and raw material supply risks were added following recent trade actions and executive orders.

Delcath updated its risk factors to reflect financial improvements including a net gain of $2.7 million in 2025. The company added new regulatory risks citing the OBBBA healthcare law enacted on July 4, 2025. Intellectual property, commercialization of HEPZATO, and pricing compliance under Medicaid remain primary focuses.

Definium Therapeutics relies heavily on developing controlled substances like lysergide and MDMA, facing strict DEA and regulatory oversight. The company restructured its debt facility, increasing its first-tranche borrowing under the amended loan agreement to $42.0 million. Pipeline product names were updated from MM120 and MM402 to DT120 ODT and DT402.

The company added a specific risk regarding data privacy controls compliance. Regulatory updates highlight the invalidation of the FDA laboratory-developed test rule. Reimbursement pressures from Medicare and PAMA implementation flaws remain prominent.

The company added acquisition risks and updated multi-year goodwill impairment figures totaling $196.1 million in 2025. Stock volatility and Tax Receivable Agreement disclosures were updated with minor terminology changes. Financial control weaknesses and limited operating history risks were dropped.