What changed in this filing

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Item 1A. Risk Factors

2026-02-06 compared with 2025-11-07 · 20 added, 17 removed, 825 unchanged (4% of the section changed)

359 unchanged sentences

• import and export license requirements, economic sanctions, contractual limitations and other trade barriers;

• t ariffs, the threat of new or increased tariffs, and ongoing trade tensions and related uncertainty;

• c hanges in local tax and customs duty laws or changes in the enforcement, application or interpretation of such laws (including potential responses to the higher U.S.

• tariffs, the threat of new or increased tariffs, and ongoing trade tensions and related uncertainty;

• changes in local tax and customs duty laws or changes in the enforcement, application or interpretation of such laws (including potential responses to the higher U.S.

tariffs on certain imported products implemented by the U.S.);

223 unchanged sentences

Our debt levels could adversely affect our ability to raise additional capital to pay dividends, repurchase our shares of common stock and fund our operations or limit our ability to react to changes in our industry or the economy.

As of September 30, 2025, our balance outstanding under the Amended Credit Agreement for our Term Loan Facility (as defined herein), was $133.8 million.

There was no outstanding balance on the Revolving Facility (as defined herein) as of September 30, 2025.

As of December 31, 2025, our balance outstanding under the Amended Credit Agreement for our Term Loan Facility (as defined herein), was $47.5 million.

There was no outstanding balance on the Revolving Facility (as defined herein) as of December 31, 2025.

The Facilities mature in March 2026, before which time we intend to enter into a new borrowing facility.

Our ability to obtain a new borrowing facility will depend on, among other things, conditions in the credit markets, prevailing interest rates, the willingness of lenders to provide new commitments, and the status of our business, results of operation and financial condition at the time of the refinancing.

Even if we are able to enter into a new borrowing facility, the terms of such facility could be less favorable than the terms of the current Facilities, including but not limited to higher interest rates, increased fees, more restrictive financial and operating covenants, additional collateral requirements, and/or reduced borrowing capacity, any of which could increase our borrowing costs and limit our financial and operating flexibility.

In the future we may need to raise additional capital to finance our payment of dividends or repurchase shares of our common stock and fund our growth and operational goals.

If additional financing is not available when required or on acceptable terms, we may not be able to pay dividends, repurchase shares of common stock, expand our business, develop or enhance our products, take advantage of business opportunities or respond to competitive pressures, which could result in lower revenues and reduce the competitiveness of our products.

If additional financing is not available when required or on acceptable terms, we may not be able to pay dividends, repurchase shares of common stock, expand our

business, develop or enhance our products, take advantage of business opportunities or respond to competitive pressures, which could result in lower revenues and reduce the competitiveness of our products.

In addition, any potential debt level increases could have important consequences, including:

29 unchanged sentences

Accordingly, our ability to determine with certainty the origin and chain of custody of these raw materials is limited.

We may face reputational challenges that could impact future sales if we determine that certain of our products contain minerals not determined to be conflict free or if we are unable to verify with sufficient accuracy the origins of all conflict minerals used in our products.

We may face reputational challenges that could impact future sales if we determine that certain of our products contain minerals not

determined to be conflict free or if we are unable to verify with sufficient accuracy the origins of all conflict minerals used in our products.

Risks Related to Our Common Stock

11 unchanged sentences

Pera is entitled to vote his shares in his own interests, which may not always be in the interests of our stockholders generally.

As of November 7, 2025, Mr.

As of February 6, 2026, Mr.

Pera beneficially owned 56,278,181 shares of our common stock.

67 unchanged sentences

For example, changes in government regulations providing funding for capital investment in new industries, products or services, such as any government funding of products supporting wireline connectivity rather than wireless connectivity, could adversely impact products that are purchased by our end customers and adversely impact our business, results of operations and financial condition.

Further, government requirements around the world requiring or providing preference to, domestically produced goods may limit our ability to sell our products to customers in such jurisdictions, impacting our ability to grow our sales in such jurisdictions, adversely impacting our revenues, operations and financial condition.

If existing laws or regulations regarding the use of our products or services are enforced in a manner not previously contemplated by us, our channel partners or our end customers, it could expose us or them to liability and could have a material adverse effect on our

financial condition, results of operations, and our brand.

Further, government requirements around the world requiring or providing preference to, domestically produced goods may limit our ability to

sell our products to customers in such jurisdictions, impacting our ability to grow our sales in such jurisdictions, adversely impacting our revenues, operations and financial condition.

Moreover, channel partners or end customers may require us, or we may otherwise deem it necessary or advisable, to alter our products to address actual or anticipated changes in the regulatory environment.

31 unchanged sentences

However, given that the scope, interpretation, and application of these laws and regulations are often uncertain and may be conflicting, it is possible that these obligations may be interpreted and applied in a manner that is inconsistent from one jurisdiction to another and may conflict with other rules or our practices.

actions, litigation, additional reporting requirements and/or oversight, bans or restrictions on processing personal data, orders to destroy or not use personal data, loss of customers, interruptions or stoppages in our business operations, inability to process personal data or operate in certain jurisdictions, limited ability to develop or commercialize our products and services, expenditure of time and resources to defend against claims or inquiries, changes to our business model or operation, or negative publicity, and could have an adverse effect on our brand, results of operations and financial condition.

Any failure or perceived failure by us or third-party service-providers to comply with our privacy or security policies or privacy-related legal obligations, or any compromise of security that results in the unauthorized release or transfer of personally identifiable information or other user data, may result in governmental enforcement actions, litigation, additional reporting requirements and/or oversight, bans or restrictions on processing personal data, orders to destroy or not use personal data, loss of customers, interruptions or stoppages in our business operations, inability to process personal data or operate in certain jurisdictions, limited ability to develop or commercialize our products and services, expenditure of time and resources to defend against claims or inquiries, changes to our business model or operation, or negative publicity, and could have an adverse effect on our brand, results of operations and financial condition.

Governments are continuing to focus on privacy, cybersecurity, data protection and data security and it is possible that new privacy or data security laws will be passed or existing laws will be amended in a way that is material to our business.

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In the event of a successful warranty claim, we may also incur costs if we compensate the affected network operator or service provider.

Such claims may require a significant amount of time and expense to resolve and defend against, and could also harm our reputation by calling into question the quality of our products.

Such claims may require a significant amount of time and expense to

resolve and defend against, and could also harm our reputation by calling into question the quality of our products.

We also may incur costs and expenses relating to a recall of one or more of our products.

8 unchanged sentences

Any failure to implement required new or improved controls, or difficulties encountered in their implementation, could cause us to fail to meet our reporting obligations, and prevent us from producing accurate and timely financial statements to manage our business.

If we fail to do so, our business could be negatively affected and our independent registered public accounting firm may be unable to attest to the fair presentation of our consolidated financial statements included in our Annual Reports on Form 10-K in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and the effectiveness of our internal control over financial reporting, as required by Section 404 of the Sarbanes-Oxley Act.

If we fail to do so, our business could be negatively affected and our independent registered public accounting firm may be unable to attest to the fair presentation of our consolidated financial statements included in our Annual Reports on Form 10-K in accordance with GAAP and the effectiveness of our internal control over financial reporting, as required by Section 404 of the Sarbanes-Oxley Act.

If we cannot provide reliable financial reports and effectively prevent fraud, our reputation and results of operations could be harmed.

23 unchanged sentences

The expense of defending and resolving such audits may be significant.

The amount of time to resolve such audits is also unpredictable and

may divert management’s attention from our business operations.

The amount of time to resolve such audits is also unpredictable and may divert management’s attention from our business operations.

We regularly assess the likelihood of favorable or unfavorable outcomes resulting from these audits or other reviews to determine the adequacy of our provision for income taxes.

23 unchanged sentences

Further, in 2022, the U.S.

government enacted the Inflation Reduction Act, which made a number of changes, including adding a 1% excise tax on stock buybacks by publicly-traded corporations and a 15% corporate minimum tax for companies with higher than $1 bil lion of certain adjusted financial statement income.

government enacted the Inflation Reduction Act, which made a number of changes, including adding a 1% excise tax on stock buybacks by publicly-traded corporations and a 15% corporate minimum tax for companies with higher than $1 billion of certain adjusted financial statement income.

As a result of the 1% excise tax, the cost to us of making repurchases will increase.

4 unchanged sentences

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.

What changed 10-Q

Item 1A. Risk Factors