People (PPLI) risk factors, FY2025 10-K

People's FY2025 10-K, filed Feb 20, 2026, lists 36 risk factors in 2 groups. Against the prior year's 45: 8 new, 17 dropped, 21 substantially reworded.

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Risk factors listed
362 groups
New this year
8vs 45 last year
Dropped
17since the prior 10-K
Substantially reworded
21of those kept
Section length
12k wordsItem 1A

What the changes say

  • AI and search-engine changes now threaten traffic, advertising inventory, and marketing effectiveness across the Digital business.

What changed since the prior 10-K

New

  • New

    We rely on search engines to attract users to our various properties. If our products and services are not presented, referenced, or otherwise discoverable within these environments, traffic and engagement with our properties could decline, which could adversely affect our business

  • New

    Advances in AI and other digital technologies are changing the way people access and consume information, which could adversely affect traffic to our businesses, the effectiveness of our marketing and advertising offerings, and our results of operations

  • New

    Our success depends on our ability to develop, market, distribute, and monetize our products and services across mobile and other digital platforms, and on our relationships with third-party platforms over which we have limited control

  • New

    Our Print business is experiencing ongoing revenue decline and faces structural, cost, and operational challenges that could adversely affect our results of operations

  • New

    We may not be able to freely access the cash of People Inc. and its subsidiaries

  • NewRisks Relating to IAC Securities

    You may experience dilution with respect to your investment in IAC as a result of compensatory equity awards

  • NewRisks Relating to the Distribution

    IAC and Angi may not realize the anticipated benefits of the Distribution

  • NewRisks Relating to the Distribution

    Our strategic initiatives may not be successful

Dropped

  • Dropped

    Changes in the usage and functioning of search engines related to GAI technology, related disruption to marketing technologies and platforms and use of our content by GAI chatbots could adversely impact our business, financial condition and results of operations

  • Dropped

    Our success depends, in part, on our continued ability to develop and monetize versions of our products and services for mobile and other digital devices

  • Dropped

    Our success depends, in substantial part, on our continued ability to market, distribute and monetize our products and services through search engines, digital app stores, advertising networks and social media platforms

  • Dropped

    Revenue from our Print business is declining

  • Dropped

    Increases in paper and postage prices are difficult to predict and control

  • Dropped

    We rely on a single supplier to print our magazines and primarily rely on two wholesalers to distribute our magazines through newsstands

  • Dropped

    Our success depends, in part, on the ability of Angi to balance their various offerings to professionals across the Angi platforms

  • Dropped

    Changes to certain requirements applicable to certain communications with consumers may adversely impact the ability of our Angi businesses to generate leads for professionals

  • Dropped

    We may incur, and subject to restrictions in the Amended Dotdash Meredith Credit Agreement, Dotdash Meredith may incur, additional, indebtedness. Any additional indebtedness incurred by us (or Dotdash Meredith in compliance with applicable restrictions) that is significant could increase the risks described above

  • Dropped

    We may not be able to freely access the cash of Dotdash Meredith and/or Angi and their respective subsidiaries

  • DroppedRisks Relating to the Distribution

    IAC and Angi may be unable to achieve some or all of the benefits that they expect to achieve as a result of the Distribution

  • DroppedRisks Relating to the Distribution

    Angi may not be able to engage in desirable capital-raising or strategic transactions following the Distribution due to restrictions under its tax sharing agreement with IAC

  • DroppedRisks Relating to the Distribution

    The Distribution is subject to certain closing conditions that, if not satisfied or waived, will result in the Distribution not being completed. If the Distribution is not completed, the market price of IAC and Angi securities may decline

  • DroppedRisks Relating to IAC and Angi Securities Following the Distribution

    The aggregate value of the IAC and Angi securities that current holders of IAC capital stock will hold after the Distribution could be less than the value of the IAC securities they held before the Distribution

  • DroppedRisks Relating to IAC and Angi Securities Following the Distribution

    If IAC completes the Distribution, holders of IAC capital stock as of immediately prior to the Distribution will receive shares of Angi Class A common stock capital stock. We cannot predict the prices at which shares of IAC common stock and/or Angi Class A common stock will trade at post-Distribution

  • DroppedRisks Relating to IAC and Angi Securities Following the Distribution

    These factors, among others, may result in short- or long-term negative pressure on the value of IAC common stock and/or Angi Class A common stock

  • DroppedRisks Relating to IAC and Angi Securities Following the Distribution

    Substantial sales of Angi Class A common stock following the Distribution, or the perception that such sales might occur, could depress the market price of Angi Class A common stock

Reworded

  • 98% rewrittenRisks Relating to IAC Securities

    If securities or industry analysts do not continue to publish research or publish unfavorable research about IAC, the market price and trading volume of IAC common stock could decline

    Was: If securities or industry analysts do not publish research or publish unfavorable research about IAC or Angi, the applicable company’s stock price and trading volume could decline

  • 96% rewrittenRisks Relating to IAC Securities

    The market price and trading volume of IAC common stock may be volatile, and investors may experience losses

    Was: The market price and trading volume of IAC common stock and/or Angi Class A common stock could be volatile and face negative pressure

  • 93% rewrittenRisks Relating to the Distribution

    We are sensitive to general economic events and trends, particularly those that adversely impact consumer confidence and discretionary spending behavior, as well as general geopolitical and macroeconomic risks

    Was: We are sensitive to general economic events and trends, particularly those that adversely impact consumer confidence and spending behavior, as well as general geopolitical risks

  • 91% rewritten

    Variable rate indebtedness and interest rate swaps subject us to interest rate risk and counterparty risk, respectively

  • 89% rewritten

    Certain of our businesses depend upon arrangements with Google

  • 84% rewritten

    Our success depends, in part, on the ability of Care.com to establish and maintain relationships with quality and trustworthy caregivers

    Was: Our success depends, in part, on the ability of Angi and Care.com to establish and maintain relationships with quality and trustworthy professionals and caregivers

  • 84% rewrittenRisks Relating to the Distribution

    We may not be able to protect our systems, technology and infrastructure from cybersecurity incidents or cybersecurity incidents experienced by third parties could adversely affect us

  • 73% rewritten

    Our success depends, in part, upon the continued migration of certain markets and industries online and the continued growth and acceptance of online products and services as effective alternatives to traditional offline products and services

  • 71% rewritten

    Current and future indebtedness could affect our ability to operate our business, which could have a material adverse effect on our business, financial condition and results of operations

  • 66% rewritten

    Our success depends, in part, on our ability to access, collect and use personal data about our users and subscribers

  • 63% rewritten

    We may not be able to generate sufficient cash to service all of our indebtedness

  • 62% rewrittenRisks Relating to IAC Securities

    IAC has issued various compensatory equity awards, including stock options, restricted stock units and stock appreciation rights denominated in shares of IAC common stock, as well as in equity of certain of its consolidated subsidiaries

    Was: IAC has issued various compensatory equity awards, including stock options, restricted stock units and stock appreciation rights denominated in shares of IAC common stock, as well as in equity of certain of its consolidated subsidiaries, including Angi and certain of its subsidiaries

  • 57% rewrittenRisks Relating to the Distribution

    We depend on our key personnel

  • 57% rewritten

    Marketing efforts designed to drive visitors to our various brands and businesses may not be successful or cost-effective

  • 55% rewritten

    Our pension plan obligations could increase

  • 54% rewrittenRisks Relating to the Distribution

    Our success depends, in part, on our ability to build, maintain and/or enhance our various brands

  • 41% rewritten

    Our success depends, in part, on the ability of our Digital business to successfully expand the audience of its portfolio of publishing brands

    Was: Our success depends, in part, on the ability of our Digital business to successfully expand the digital reach of our portfolio of publishing brands

  • 38% rewritten

    Advertising revenue represents a significant portion of our consolidated revenue. Accordingly, we are sensitive to general economic events and trends that adversely impact advertising spending levels

  • 37% rewrittenRisks Relating to the Distribution

    IAC or Angi may fail to perform their obligations pursuant to certain agreements between them

  • 26% rewrittenRisks Relating to the Distribution

    If the Distribution fails to qualify as a transaction that is generally tax-free for U.S. federal income tax purposes, IAC, Angi and their respective stockholders could suffer material adverse consequences

  • 21% rewrittenRisks Relating to the Distribution

    Following the Distribution, IAC operates as a smaller, less diversified company

    Was: Following the Distribution, IAC will be a smaller, less diversified company than IAC prior to the Distribution

All 36 risk factors

Headings as the filing states them, in filing order.

Other

  1. 01Cautionary Statement Regarding Forward-Looking Information
  2. 02We rely on search engines to attract users to our various properties. If our products and services are not presented, referenced, or otherwise discoverable within these environments, traffic and engagement with our properties could decline, which could adversely affect our businessNew
  3. 03Marketing efforts designed to drive visitors to our various brands and businesses may not be successful or cost-effective57% rewritten
  4. 04Advances in AI and other digital technologies are changing the way people access and consume information, which could adversely affect traffic to our businesses, the effectiveness of our marketing and advertising offerings, and our results of operationsNew
  5. 05Advertising revenue represents a significant portion of our consolidated revenue. Accordingly, we are sensitive to general economic events and trends that adversely impact advertising spending levels38% rewritten
  6. 06Our success depends, in part, on the ability of our Digital business to successfully expand the audience of its portfolio of publishing brands41% rewritten
  7. 07Certain of our businesses depend upon arrangements with Google89% rewritten
  8. 08Our success depends, in part, on our ability to access, collect and use personal data about our users and subscribers66% rewritten
  9. 09Our success depends on our ability to develop, market, distribute, and monetize our products and services across mobile and other digital platforms, and on our relationships with third-party platforms over which we have limited controlNew
  10. 10Our Print business is experiencing ongoing revenue decline and faces structural, cost, and operational challenges that could adversely affect our results of operationsNew
  11. 11Our pension plan obligations could increase55% rewritten
  12. 12Our success depends, in part, on the ability of Care.com to establish and maintain relationships with quality and trustworthy caregivers84% rewritten
  13. 13Our success depends, in part, upon the continued migration of certain markets and industries online and the continued growth and acceptance of online products and services as effective alternatives to traditional offline products and services73% rewritten
  14. 14Our ability to engage directly with our subscribers and caregivers on a timely basis is critical to our success
  15. 15Mr. Diller and certain members of his family are able to exercise significant influence over the composition of IAC’s board of directors, matters subject to stockholder approval and IAC’s operations
  16. 16Current and future indebtedness could affect our ability to operate our business, which could have a material adverse effect on our business, financial condition and results of operations71% rewritten
  17. 17We may not be able to generate sufficient cash to service all of our indebtedness63% rewritten
  18. 18Variable rate indebtedness and interest rate swaps subject us to interest rate risk and counterparty risk, respectively91% rewritten
  19. 19We may not be able to freely access the cash of People Inc. and its subsidiariesNew

Risks Relating to IAC Securities

  1. 20You may experience dilution with respect to your investment in IAC as a result of compensatory equity awardsNew
  2. 21IAC has issued various compensatory equity awards, including stock options, restricted stock units and stock appreciation rights denominated in shares of IAC common stock, as well as in equity of certain of its consolidated subsidiaries62% rewritten
  3. 22The market price and trading volume of IAC common stock may be volatile, and investors may experience losses96% rewritten
  4. 23If securities or industry analysts do not continue to publish research or publish unfavorable research about IAC, the market price and trading volume of IAC common stock could decline98% rewritten

Risks Relating to the Distribution

  1. 24IAC and Angi may not realize the anticipated benefits of the DistributionNew
  2. 25Following the Distribution, IAC operates as a smaller, less diversified company21% rewritten
  3. 26If the Distribution fails to qualify as a transaction that is generally tax-free for U.S. federal income tax purposes, IAC, Angi and their respective stockholders could suffer material adverse consequences26% rewritten
  4. 27IAC or Angi may fail to perform their obligations pursuant to certain agreements between them37% rewritten
  5. 28Our businesses operate in especially competitive and evolving industries
  6. 29We are sensitive to general economic events and trends, particularly those that adversely impact consumer confidence and discretionary spending behavior, as well as general geopolitical and macroeconomic risks93% rewritten
  7. 30Our success depends, in part, on our ability to build, maintain and/or enhance our various brands54% rewritten
  8. 31We may not be able to protect our systems, technology and infrastructure from cybersecurity incidents or cybersecurity incidents experienced by third parties could adversely affect us84% rewritten
  9. 32If personal, confidential or sensitive user information is breached or otherwise accessed by unauthorized persons, it may be costly to mitigate and our reputation and the reputation of our brands could be harmed
  10. 33The processing, storage, use and disclosure of personal data could give rise to liabilities and increased costs
  11. 34Our success depends, in part, on the integrity, quality, efficiency and scalability of our systems, technology and infrastructure, and those of third parties
  12. 35Our strategic initiatives may not be successfulNew
  13. 36We depend on our key personnel57% rewritten

Other People 10-Ks

  • FY2024 10-K risk factors
    45 risks

    Advertising and platform dependence shape People Inc, alongside heavy leverage from the Dotdash Meredith acquisition.

    Filed Feb 28, 2025

About this page

The headings are the filing's own. The one-line readings and the overview are automated and can be wrong: read Item 1A of the 10-K for the exact wording.