Amazon.com (AMZN) risk factors, 2025 10-K

Amazon.com's 2025 10-K lists 24 risk factors in 2 groups. No earlier 10-K is on file to compare against, so the most company-specific risks are read out below.

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Risk factors listed
242 groups
Section length
9k wordsItem 1A

What dominates the section

  • Retail demand swings, fulfillment capacity, data centers, inventory, suppliers, and payments create significant operating-execution risks.
  • Amazon’s expanding cloud, healthcare, devices, advertising, AI, satellite, and digital-content businesses broaden regulatory and liability exposure.
  • International operations, foreign exchange, acquisitions, and government contracts add scaling, compliance, integration, and earnings volatility risks.

The risks most specific to Amazon.com

  • Business and Industry Risks

    We Face Risks Related to Successfully Optimizing and Operating Our Fulfillment Network and Data Centers

    Misjudging demand or capacity in Amazon’s fulfillment network and data centers could cause service interruptions, higher costs, or impairment charges.

  • Business and Industry Risks

    We Could Be Harmed by Data Loss or Other Security Incidents

    Security failures affecting Amazon, vendors, or customers could expose sensitive personal, business, proprietary, or classified data.

  • Business and Industry Risks

    We Face Significant Inventory Risk

    Seasonality, product launches, changing product cycles, defective goods, and shifting demand could leave Amazon with costly excess inventory.

  • Business and Industry Risks

    Our Supplier Relationships Subject Us to a Number of Risks

    Dependence on significant, limited, or single-source suppliers, including content and technology licensors, could disrupt sourcing, manufacturing, services, or merchandise support.

  • Business and Industry Risks

    We Are Subject to Payments-Related Risks

    Payment processing across cards, credit accounts, gift cards, bank debits, invoicing, checks, and delivery payments creates fraud, compliance, and collection exposure.

  • Legal and Regulatory Risks

    Government Regulation Is Evolving and Unfavorable Changes Could Harm Our Business

    Changing rules governing Amazon’s retail, cloud, digital-content, devices, advertising, AI, satellite, healthcare, and internet businesses could increase costs or restrict operations.

  • Legal and Regulatory Risks

    We Are Subject to Product Liability Claims When People or Property Are Harmed by the Products We Sell or Manufacture

    Products Amazon sells or manufactures, including food, and products sold by third parties through its stores could cause injury, illness, death, or property damage.

  • Business and Industry Risks

    We Have Foreign Exchange Risk

    Currency movements affecting international operations and intercompany balances could materially change results and create significant remeasurement gains or losses.

  • Business and Industry Risks

    We Are Impacted by Fraudulent or Unlawful Activities of Sellers

    Fraudulent or unlawful activity by marketplace sellers, plus evolving online-platform liability rules, could require costly business changes or expose Amazon to claims.

  • Legal and Regulatory Risks

    We Are Subject to Risks Related to Government Contracts and Related Procurement Regulations

    Government contracts across U.S., state, local, and foreign entities must satisfy procurement rules governing their formation, administration, and performance.

All 24 risk factors

Headings as the filing states them, in filing order.

Business and Industry Risks

  1. 01We Face Intense Competition
  2. 02Our Expansion into New Products, Services, Technologies, and Geographic Regions Subjects Us to Additional Risks
  3. 03Our International Operations Expose Us to a Number of Risks
  4. 04The Variability in Our Retail Business Places Increased Strain on Our Operations
  5. 05We Are Impacted by Fraudulent or Unlawful Activities of Sellers
  6. 06unable to prevent third parties from acquiring domain names that are similar to, infringe upon, or diminish the value of our trademarks and other proprietary rights
  7. 07We Have Foreign Exchange Risk
  8. 08Our Expansion Places a Significant Strain on our Management, Operational, Financial, and Other Resources
  9. 09We Experience Significant Fluctuations in Our Operating Results and Growth Rate
  10. 10We Face Risks Related to Successfully Optimizing and Operating Our Fulfillment Network and Data Centers
  11. 11We Could Be Harmed by Data Loss or Other Security Incidents
  12. 12We Face Risks Related to System Interruption and Lack of Redundancy
  13. 13Our Supplier Relationships Subject Us to a Number of Risks
  14. 14Our Commercial Agreements, Strategic Alliances, and Other Business Relationships Expose Us to Risks
  15. 15As our agreements terminate, we may be unable to renew or replace these agreements on comparable terms, or at all. We may in the future enter into amendments on less favorable terms or encounter parties that have difficulty meeting their contractual obligations to us, which could adversely affect our operating results
  16. 16Our Business Suffers When We Are Unsuccessful in Making, Integrating, and Maintaining Acquisitions and Investments
  17. 17We Face Significant Inventory Risk
  18. 18We Are Subject to Payments-Related Risks
  19. 19We Have a Rapidly Evolving Business Model and Our Stock Price Is Highly Volatile

Legal and Regulatory Risks

  1. 20Government Regulation Is Evolving and Unfavorable Changes Could Harm Our Business
  2. 21Claims, Litigation, Government Investigations, and Other Proceedings May Adversely Affect Our Business and Results of Operations
  3. 22We Are Subject to Product Liability Claims When People or Property Are Harmed by the Products We Sell or Manufacture
  4. 23We Face Additional Tax Liabilities and Collection Obligations
  5. 24We Are Subject to Risks Related to Government Contracts and Related Procurement Regulations

Other Amazon.com 10-Ks

  • 2026 10-K risk factors

    23 risks. Amazon faces extreme breadth of risk spanning retail, cloud computing, logistics, artificial intelligence, and global regulation. International expansion, fraudulent third-party sellers, and complex government procurement expose the company to significant operational and legal friction.

    Filed Feb 06, 2026

About this page

Item 1A of the 10-K on EDGAR was split into its risk factors and, where the company's previous 10-K is on file, each heading was matched to last year's and the text compared word for word. The headings are the filing's own. The one-line readings and the overview were written by a language model from the text of the new, dropped, and rewritten risks; they refer to risks by position and cannot misquote a heading.

Amazon.com (AMZN) Risk Factors: 2025 10-K, What Changed | Gloomberb