Risk factors

New risks highlight expansion into individual-investor products and digital infrastructure, alongside AI-related disruption to underwriting and investments.

RV exposure rose to 45% of sales, while the two largest RV customers’ combined share fell to 28%.

Open-source risk now includes AI models, absent warranties and support, and possible relicensing or costly re-engineering.

New disclosure details roughly $2 billion debt, covenant constraints, Convertible Notes conversion and takeover costs, and capped-call dilution and counterparty exposure.

New risks center on the December 2025 financing deal, required stockholder approval, and BiomX Ltd.’s insolvency proceedings in Israel.

Revenue remains concentrated in the nPulse System and NPS, while the company says it has limited sales experience and volatile, hard-to-predict revenue and cash flows.

PPG newly identifies AI adoption as a business, operational, compliance and reputational risk.

Newly highlights that Breakthrough Therapy status for relutrigine and ulixacaltamide does not assure faster review or FDA approval.

New risks highlight 2026 federal loan limits, student-loan repayment defaults, outreach call filtering, and a $100 million repurchase authorization.

The EC declined to renew Translarna’s EEA authorization; continued sales now depend on individual EU countries using specified legal mechanisms.

New risks focus on PROPWR mobile power, including long sales cycles, equipment commitments, competition, grid alternatives and reliable delivery.

Climate risk now names extreme heat and gives examples of damage to projects, facilities, equipment, and customer service regions.