Other than the updated risk factors below, there have been no material changes in our risk factors as previously disclosed in Part I, Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2024.
+Added: We rely on highly skilled personnel throughout all levels of our business.
+Added: Our business could be harmed if we are unable to retain or motivate key personnel, hire a sufficient number of qualified new personnel, or maintain our corporate culture.
+Added: Our future success depends in substantial part on our ability to attract, recruit, hire, motivate, develop, and retain talented personnel possessing the qualifications, experiences, capabilities and skills we need for all areas of our organization, including our CEO and members of our senior leadership team.
+Added: Succession planning to ensure effective transfer of knowledge and a seamless transition when key personnel depart is also important to our long-term success.
+Added: In September 2025, we announced that on November 1, 2025, G.
+Added: Michael Sievert would retire as our Chief Executive Officer and continue to serve as Vice Chairman of the Company and Vice Chairman of our Board of Directors, and Srinivasan Gopalan would serve as our Chief Executive Officer.
+Added: Our ability to execute our business strategies and retain key executives may be adversely affected by the transition.
+Added: Additionally, as we continue to make significant investments in new technologies and new business areas, we are increasingly dependent on being able to hire and retain technically skilled employees, including those with expertise in AI and machine learning.
+Added: Both external factors, such as fluctuations in economic and industry conditions, changes in U.S.
+Added: immigration policies, regulatory changes, political forces and the competitive landscape, and internal factors, such as employee tolerance for changes in our corporate culture, organizational changes, limited remote working opportunities, and our compensation programs, may impact our ability to effectively manage our workforce.
+Added: Further, employee compensation and benefit costs may increase due to inflationary pressures, and if our compensation does not keep up with inflation or that of our competitors’, we may see increased employee dissatisfaction and departures or difficulty in recruiting new employees.
+Added: If key employees depart or we are unable to recruit and integrate new employees successfully, our business could be negatively impacted.
Any acquisition, divestiture, investment, joint venture or merger may subject us to significant risks, any of which may harm our business.
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• any business, technology, service, or product involved in any such transaction may significantly under-perform relative to our expectations, and we may not achieve the benefits we expect from the transaction, which could, among other things, also result in a write-down of goodwill and other intangible assets associated with such transaction.
−Removed: We have entered into joint venture agreements aimed at establishing a robust fiber broadband network that complements our fixed wireless services.
−Removed: Once closed, differences in views among the joint venture participants may result in delayed decisions or disputes.
+Added: We formed joint ventures aimed at establishing a robust fiber broadband network that complements our fixed wireless services.
+Added: Differences in views among the joint venture participants may result in delayed decisions or disputes.
Operating through joint ventures in which we do not hold a majority ownership interest results in us having limited control over many decisions made with respect to the businesses of the joint ventures.
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Any of these risks could have a material adverse effect on our business, financial condition and results of operations and could also affect our reputation.
−Removed: Additionally, in connection with our Sprint Merger and related transactions, including the acquisition by DISH Network Corporation (“DISH”) of certain prepaid wireless business (the “Prepaid Transaction”), we agreed to fulfill various government commitments (the “Government Commitments”), including, among others, extensive 5G network build-out, delivering high-speed wireless services to the vast majority of Americans and marketing our in-home fixed wireless product to households
−Removed: where spectrum capacity is sufficient, as well as commitments related to national security, pricing and availability of rate plans.
+Added: Additionally, in connection with our Sprint Merger and related transactions, including the acquisition by DISH Network Corporation (“DISH”) of certain prepaid wireless business (the “Prepaid Transaction”), we agreed to fulfill various government commitments (the “Government Commitments”), including, among others, extensive 5G network build-out, delivering high-speed wireless services to the vast majority of Americans and marketing our in-home fixed wireless product to households where spectrum capacity is sufficient, as well as commitments related to national security, pricing and availability of rate plans.
These Government Commitments materially increased our compliance obligations and could result in additional expenses and/or penalties in the future.
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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.