Risk factors

The proposed Depop sale to eBay is expected to close in the second quarter of 2026, subject to approval and other conditions.

New risk ties Evergy’s investment plans to sustained data-center and large-customer electricity demand.

New risks identify a 2026 Federal Reserve leadership transition, expanded AI-related fraud and cybersecurity exposure, and potential securities sales under a 2025 shelf registration.

New risks focus on AI use, the One Fiserv plan, emerging financial products and legal exposure from expanding offerings.

Backlog nearly doubled to $11.94 billion from $5.99 billion, but the company still warns projects may be cancelled or unprofitable.

Macro risk is more specific: high rates, low home sales, softer traffic and tickets are linked to deferred flooring projects.

Risk disclosures now reflect 2025 rate cuts and retaliatory-tariff announcements, while interest rates remain high relative to the recent past.

New AI disclosures focus on flawed or biased systems, confidentiality and IP exposure, and AI-enabled cyberattacks.

GABX adds integration, minority-ownership, governance, and call-option execution risks following the Wells Fargo rail portfolio acquisition.

AI risk now reflects expanded use of tools, including inaccurate results, confidential-information exposure and cybersecurity vulnerabilities.

Losses narrowed to $416.3 million in 2025, but accumulated deficit grew to $3.0 billion.

GLPI added risks that fixed rent escalations can outpace property cash flows and that ground-lease expirations or increases may burden tenants.