HLLY on NYSE

Holley Inc.

American motor vehicle parts and accessories company based in Bowling Green2

In its 2026 annual report the company says: “We are a leading manufacturer of a diversified line of performance automotive products, including carburetors, fuel pumps, fuel injection systems, nitrous oxide injection systems, superchargers, exhaust headers, mufflers, distributors, ignition components, engine tuners and automotive performance plumbing products. We are also a leading manufacturer of exhaust products as well as shifters, converters, transmission kits, transmissions, tuners and automotive software.”4 Its shares trade on NYSE under the symbol HLLY.2

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Last updated Oct 21, 2026.

Overview

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  • TickerHLLY on NYSE2
  • IndustryMotor Vehicle Parts & Accessories2
  • HeadquartersBowling Green, United States2
  • Incorporated inDE3
  • Business address1A Burton Hills Blvd, Suite 240, Nashville, Tn 372153
  • Filer categoryAccelerated filer, Smaller reporting company3
  • Legal formCorporation2
  • LEI254900EEM9JI9G1A4D882
  • StatusActive2
  • LEI statusLapsed (not renewed)2
  • Registered addressc/o Corporation Service Company, 19808 Wilmington, United States2
  • Registered withDivision of Corporations, Department of State, 55948532

Founded in 1903, Holley, Inc. has been a part of the automotive industry for well over a century. We design, manufacture, and distribute high-performance automotive aftermarket products to car and truck enthusiasts primarily in the United States, Canada and Europe. Our products span a number of automotive platforms and are sold across multiple channels. We are a leading manufacturer of a diversified line of performance automotive products, including carburetors, fuel pumps, fuel injection systems, nitrous oxide injection systems, superchargers, exhaust headers, mufflers, distributors, ignition components, engine tuners and automotive performance plumbing products. We are also a leading manufacturer of exhaust products as well as shifters, converters, transmission kits, transmissions, tuners and automotive software. Our products are designed to enhance street, off-road, recreational and c…4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

43.4%Gross margin5
13.4%Operating margin5
3.1%Net margin5
1.9%Revenue growth, 20255
4.3%Return on equity5
1.15×Debt to equity5
$33.9MFree cash flow5

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

American Performance brought in 64% of the revenue Holley Inc. broke down this way in fiscal 2025.

  1. American Performance$393.9M564%up 1% from 2024
  2. Truck & Off-Road$125.5M520%up 3% from 2024
  3. Safety & Racing$64.2M510%down 1% from 2024
  4. Euro & Import$29.9M55%up 15% from 2024
Products and services by year
Products and services20242025
American Performance$389.3M$393.9M
Truck & Off-Road$122.1M$125.5M
Safety & Racing$64.9M$64.2M
Euro & Import$26.0M$29.9M

Regions

United States brought in 97% of the revenue Holley Inc. broke down this way in fiscal 2025.

  1. United States$598.0M597%up 3% from 2024
  2. Italy$15.5M53%down 18% from 2024
Regions by year
Regions20242025
United States$583.4M$598.0M
Italy$18.8M$15.5M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue57¢$347.3M
  • Research and development3¢$18.8M
  • Selling, general and admin24¢$146.1M
  • Other costs12¢$72.6M
  • Income tax2¢$9.5M
  • Profit3¢$19.2M

Out of $613.5M in revenue.5

Where each dollar of operating cash went, fiscal 2025

  • Capital spending27¢$12.3M
  • Kept or used elsewhere73¢$33.9M

Out of $46.2M of cash from operations.5

Financial statements

Revenue67895$613.5M in 2025+66% since 2019
0$200.0M$400.0M$600.0M$800.0M2019: $368.7M$368.7M20192020: $504.2M$504.2M2020+37%2021: $692.8M$692.8M2021+37%2022: $688.4M$688.4M2022−1%2023: $659.7M$659.7M2023−4%2024: $602.2M$602.2M2024−9%2025: $613.5M$613.5M2025+2%
Gross profit67895$266.2M in 2025+79% since 2019
0$100.0M$200.0M$300.0M2019: $148.8M$148.8M20192020: $208.2M$208.2M2020+40%2021: $286.8M$286.8M2021+38%2022: $253.7M$253.7M2022−12%2023: $256.1M$256.1M2023+1%2024: $238.5M$238.5M2024−7%2025: $266.2M$266.2M2025+12%
Operating income67895$82.5M in 2025+79% since 2019
0$25.0M$50.0M$75.0M$100.0M2019: $46.1M$46.1M20192020: $85.5M$85.5M2020+85%2021: $77.5M$77.5M2021−9%2022: $50.7M$50.7M2022−35%2023: $94.0M$94.0M2023+85%2024: $14.7M$14.7M2024−84%2025: $82.5M$82.5M2025+462%
Net income67895$19.2M in 2025+3318% since 2019
-$50.0M0$50.0M$100.0M2019: $561.0K$561.0K20192020: $32.9M$32.9M2020+5757%2021: -$27.1M-$27.1M20212022: $73.8M$73.8M20222023: $19.2M$19.2M2023−74%2024: -$23.2M-$23.2M20242025: $19.2M$19.2M2025

Every line of the income statement as filed: the last 2 fiscal years, latest first.5

Period ending2025-12-312024-12-31
Net sales$613.5M$602.2M
Cost of goods sold$347.3M$363.7M
Gross profit$266.2M$238.5M
Selling, general, and administrative$146.1M$132.1M
Research and development costs$18.8M$18.7M
Amortization of intangible assets$13.8M$13.9M
Impairment of indefinite-lived intangible assets$0$7.7M
Impairment of goodwill$0$40.9M
Restructuring costs$2.9M$1.6M
Loss on sale of assets$0$9.2M
Other operating expense (income)$2.1M-$268.0K
Total operating expense$183.8M$223.9M
Operating income$82.5M$14.7M
Change in fair value of warrant liability$1.2M-$7.6M
Change in fair value of earn-out liability$897.0K-$2.3M
Loss (gain) on early extinguishment of debt-$93.0K$141.0K
Interest expense, net-$51.8M-$50.7M
Total non-operating expense$53.8M$40.9M
Income (loss) before income taxes$28.6M-$26.3M
Income tax expense (benefit)$9.5M-$3.0M
Net income (loss)$19.2M-$23.2M
Foreign currency translation adjustment$1.3M-$452.0K
Total other comprehensive income (loss)$1.3M-$452.0K
Total comprehensive income (loss)$20.5M-$23.7M
Weighted average common shares outstanding - basic (in shares)119.2M shares118.4M shares
Weighted average common shares outstanding - diluted (in shares)120.0M shares118.4M shares
Basic net income (loss) per share ((in usd per share))$0.16-$0.20
Diluted net income (loss) per share (in usd per share)$0.16-$0.20

Compare Holley Inc. with another company

Corporate structure

Holley Inc. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Holley Inc.

  • Holley Inc. Bowling Green, Kentucky, United States

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Holley Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$98.4M5 Dec 31, 2025$87.7M5 Dec 31, 2024+12.2%
Accumulated depreciation$53.3M5 Dec 31, 2025$46.7M5 Dec 31, 2024+14.1%
Property and equipment, net$45.1M5 Dec 31, 2025$41.0M5 Dec 31, 2024+10.1%
Operating-lease assets (leased space)$33.4M5 Dec 31, 2025$36.0M5 Dec 31, 2024−7.1%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$37.2M5 Dec 31, 2025$56.1M5 Dec 31, 2024−33.6%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$372.3M5 Dec 31, 2025$372.3M5 Dec 31, 20240%
Intangible assets, net (excluding goodwill)$396.9M5 Dec 31, 2025$386.7M5 Dec 31, 2024+2.6%
Indefinite-lived intangibles (excluding goodwill)$189.1M5 Dec 31, 2025
Finite-lived intangibles, gross$310.7M5 Dec 31, 2025$310.4M5 Dec 31, 2024+0.1%
Accumulated amortization$102.9M5 Dec 31, 2025$89.0M5 Dec 31, 2024+15.6%
Finite-lived intangibles, net$207.8M5 Dec 31, 2025$221.4M5 Dec 31, 2024−6.1%

Inventory

ItemLatestA year beforeChange
Inventory, total$205.7M5 Dec 31, 2025$192.5M5 Dec 31, 2024+6.8%
Raw materials$56.4M5 Dec 31, 2025$58.9M5 Dec 31, 2024−4.3%
Work in process$18.2M5 Dec 31, 2025$3.4M5 Dec 31, 2024+432.8%
Finished goods$131.1M5 Dec 31, 2025$130.2M5 Dec 31, 2024+0.7%

Properties, in its own words

Our corporate headquarters is located at 1A Burton Hills Blvd, Suite 240, Nashville, TN 37215.

We own property at 1801 Russellville Rd, Bowling Green, Kentucky 42101, that is approximately 200,000 square feet. We have a number of leased locations across the United States, Canada, Italy, and China that serve multiple functions, including distribution, engineering, manufacturing, office space, R&D, and retail sales. We have 17 facilities that perform manufacturing of our products and 13 distribution locations. We also have 15 R&D/Engineering facilities designed to develop our new product innovations.

Item 2 of the 10-K filed Mar 16, 2026.4

Leadership

Who has led Holley Inc., and when. Pick a name to see everywhere that person has worked.

Board members and other officers (20)

Former names

  • Empower Ltd.Aug 28, 2020 to Jul 16, 20213

Timeline

  1. Sep 23, 20268-K Other events38
  2. Aug 5, 20268-K Results of operations39
  3. Jul 14, 20268-K Other events40
  4. May 26, 20268-K Other events41
  5. May 18, 20268-K Regulation FD disclosure; Other events42
  6. May 6, 20268-K Shareholder vote43
  7. May 6, 20268-K Results of operations44
  8. Apr 8, 20268-K Executive or director change45
  9. Mar 4, 20268-K Results of operations46
  10. Dec 11, 20258-K Executive or director change47
  11. Nov 7, 20258-K Results of operations48
  12. Oct 27, 20258-K Other events49
  13. Jun 6, 2023New chief executive Matthew Stevenson becomes CEO13
  14. Feb 8, 2023New chief executive Michelle J. Gloeckler becomes CEO12
  15. Jul 20, 2021New chief executive Thomas W. Tomlinson becomes CEO14
  16. Jul 16, 2021Founded Holley Inc. is founded2
  17. Oct 6, 2020New chief executive Matthew E. Rubel becomes CEO15

Calendar

Coming up

  1. Nov 6, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported $0.03 a share, on Nov 7, 2025.50

When it reported results

  1. Aug 5, 2026Reported quarterly or annual results39
  2. May 6, 2026Reported quarterly or annual results44
  3. Mar 4, 2026Reported quarterly or annual results46
  4. Nov 7, 2025Reported quarterly or annual results48
  5. Aug 6, 2025Reported quarterly or annual results51
  6. May 7, 2025Reported quarterly or annual results52
  7. Mar 11, 2025Reported quarterly or annual results53
  8. Nov 8, 2024Reported quarterly or annual results54

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

317 filings to the SEC since October 2021: 6 annual reports, 17 quarterly reports, 50 major events, 159 insider forms, 26 large holders, 59 other. The latest 20:

  1. Sep 23, 20268-K EDGAR
  2. Aug 14, 20264 EDGAR
  3. Aug 14, 20264 EDGAR
  4. Aug 5, 20268-K EDGAR
  5. Aug 5, 202610-Q EDGAR
  6. Aug 4, 2026SCHEDULE 13G/A EDGAR
  7. Jul 16, 202625-NSE EDGAR
  8. Jul 14, 20268-K EDGAR
  9. Jun 9, 20264 EDGAR
  10. Jun 1, 2026SD EDGAR
  11. May 27, 20263 EDGAR
  12. May 26, 20268-K EDGAR
  13. May 18, 20268-K EDGAR
  14. May 14, 20264 EDGAR
  15. May 14, 20264 EDGAR
  16. May 14, 20264 EDGAR
  17. May 14, 20264 EDGAR
  18. May 14, 20264 EDGAR
  19. May 14, 20264 EDGAR
  20. May 14, 20264 EDGAR

The 317 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

29 open-market trades by officers, directors and large owners since October 2021: 11 buys and 18 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Sep 18, 2025Sentinel Capital Partners V, L.P.DirectorSale2,100,000$2.63$5.5MForm 4
Sep 10, 2025Sentinel Partners V, L.P.DirectorSale14,000,000$2.63$36.8MForm 4
Mar 20, 2025Sentinel Capital Investors V, L.P.DirectorSale802,127$2.47$2.0MForm 4
Dec 16, 2024Sentinel Managing Co V, Inc.DirectorSale1,743,356$3.00$5.2MForm 4
Jun 12, 2024Rubel Matthew EDirectorBuy14,493$3.39$49.1KForm 4
Mar 15, 2024Clempson GrahamDirectorBuy40,924$4.23$173.1KForm 4
Mar 14, 2024Clempson GrahamDirectorBuy59,076$4.18$246.9KForm 4
Nov 22, 2023Stevenson MatthewPresident and CEOBuy13,853$4.06$56.2KForm 4
Nov 21, 2023Stevenson MatthewPresident and CEOBuy11,147$3.99$44.5KForm 4
Nov 13, 2023JONES GINGER MDirectorBuy10,000$3.78$37.8KForm 4
Aug 15, 2023Basham OwenDirectorSale5,500,000$6.30$34.6MForm 4
Aug 15, 2023Coady James D.DirectorSale5,500,000$6.30$34.6MForm 4
Aug 15, 2023Sentinel Capital Partners V, L.P.DirectorSale5,500,000$6.30$34.6MForm 4
Jun 26, 2023MIDOCEAN ASSOCIATES V, L.P.10% ownerBuy1,600$3.50$5.6KForm 4
Jun 26, 2023Clempson GrahamDirectorBuy1,922$3.50$6.7KForm 4
Jun 23, 2023Clempson GrahamDirectorBuy300$3.49$1.0KForm 4
Jun 16, 2023Clempson GrahamDirectorBuy2,553$3.50$8.9KForm 4
Aug 16, 2022Tomlinson Thomas WChief Executive OfficerBuy7,500$6.45$48.4KForm 4
Aug 16, 2022Bardos DominicChief Financial OfficerSale9,800$6.40$62.7KForm 4
Aug 15, 2022Bardos DominicChief Financial OfficerSale24,578$6.50$159.8KForm 4

All 29 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Matthew J. StevensonPresident and Chief Executive Officer48$700.0K$4.4M64
2025Jesse WeaverChief Financial Officer44$473.9K$2.4M64
2025Carly KennedyEVP, General Counsel and Corporate Secretary44$328.0K$1.4M64
2024Jesse WeaverChief Financial Officer44$425.0K$1.2M64
2024Matthew J. StevensonPresident and Chief Executive Officer48$683.8K$1.1M64
2024Carly KennedyEVP, General Counsel and Corporate Secretary44$320.4K$924.9K64

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Allspring Global Investments Holdings, LLC9,807,451$24.0M0.0%−16,452
Boston Partners7,005,583$17.9M0.0%+391,043
BlackRock, Inc.5,631,764$14.4M0.0%+758,695
Wasatch Advisors LP4,887,038$12.5M0.1%+1,269,256
Blue Owl Capital Holdings LP4,376,888$11.2M1.7%+140,000
Bamco Inc /ny/3,250,000$8.3M0.0%No change
Vanguard Capital Management LLC3,151,020$8.0M0.0%+26,578
Dimensional Fund Advisors LP2,894,741$7.4M0.0%+447,475
Clearlake Capital Group, L.P.2,750,000$7.0M1.3%No change
Hillsdale Investment Management Inc.2,021,361$5.2M0.1%+91,900
Bank Of America Corp /de/1,818,851$4.6M0.0%−63,515
Franklin Resources Inc1,809,963$4.6M0.0%+443,302
Geode Capital Management, LLC1,746,533$4.5M0.0%+197,047
Russell Investments Group, Ltd.1,586,315$4.0M0.0%−169,289
State Street Corp1,450,443$3.7M0.0%+84,802
Arrowstreet Capital, Limited Partnership1,318,247$3.4M0.0%−328,501
Morgan Stanley1,294,586$3.3M0.0%−32,707
Goldman Sachs Group Inc1,170,961$3.0M0.0%+861,817
Skylands Capital, LLC1,069,829$2.7M0.3%+75,979
Bridgeway Capital Management, LLC995,316$2.5M0.0%+31,746
D. E. Shaw & Co., Inc.952,620$2.4M0.0%−254,530
Vanguard Portfolio Management LLC938,880$2.4M0.0%+82,294
First Eagle Investment Management, LLC911,594$2.3M0.0%+430,797
Two Sigma Investments, LP888,208$2.3M0.0%−147,795
Renaissance Technologies LLC747,400$1.9M0.0%−125,700

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How Holley Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARHolley Inc.1
  • CIK0001822928
  • Employer ID (EIN)87-17275604
  • Filer statusAccelerated filer not an emerging growth company; a smaller reporting company; not a shell company4
  • Incorporated inDelaware4
  • Fiscal year endsDecember 311
  • Industry code (SIC)3714 Motor Vehicle Parts & Accessories1
  • SEC reviewing officeOffice of Manufacturing, Division of Corporation Finance1
  • Business address1A Burton Hills Blvd, Suite 240, Nashville, TN 372151
  • Phone27078229001
  • Shares outstanding121,234,143 as of Aug 3, 202611
  • Public float$120.3M as of Jun 29, 20254
  • AuditorGRANT THORNTON LLP, Cincinnati, Ohio PCAOB ID 248; it also attests to the company’s internal control over financial reporting4
  • On EDGAR sinceAug 28, 20201
  • Filings436 in all: 4 (183), 8-K (58), 3 (29), 10-Q (18), 424B3 (17), UPLOAD (12), CORRESP (11), SC 13G/A (11)1
    All 40 form types

    425 (9), EFFECT (8), SC 13G (7), 10-K (6), SC 13D/A (6), DEF 14A (5), DEFA14A (5), SCHEDULE 13G/A (5), 144 (3), ARS (3), POS AM (3), S-4/A (3), S-8 (3), SCHEDULE 13D/A (3), SD (3), 10-K/A (2), 10-Q/A (2), 25-NSE (2), 4/A (2), 8-K/A (2), S-1 (2), S-3 (2), SC 13D (2), 424B4 (1), 424B5 (1), 8-A12B (1), CERT (1), DRS (1), NT 10-Q (1), S-1/A (1), S-4 (1), SCHEDULE 13G (1)

  • Latest filingsAnnual report (10-K) Mar 16, 2026
    Quarterly report (10-Q) Aug 5, 2026
    Proxy statement (DEF 14A) Mar 20, 2026
    Latest 8-K (8-K) Sep 23, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, par value $0.0001HLLYNew York Stock Exchange
Warrants to Purchase Common StockHLLY WSNew York Stock Exchange

From the cover page of the 10-K filed Mar 16, 2026 (Section 12(b) of the Exchange Act).4

Risk factors and legal proceedings

The risks Holley Inc. names in Item 1A of its 10-K filed Mar 16, 2026: 59 risks under these headings, as written.4

  • Risks Relating to Our Business and Industry
  • Global economic and financial market conditions beyond our control might materially and negatively impact us.
  • If significant tariffs or other restrictions are placed on products or materials we import, or any related counter-measures are taken by foreign countries, our revenue and results of operations may be materially harmed.
  • Unfavorable economic conditions could have an adverse impact on consumer discretionary spending and therefore adversely impact our business, sales, financial condition and results of operations.
  • Inflation may continue to adversely affect us by increasing the cost of raw materials, which could continue to result in higher costs and decreased profitability. Consumer demand could be negatively impacted by higher prices as the result of inflation.
  • Disruptions of supply or shortages of raw materials or components used in our products could continue to harm our business and profitability.
  • A significant disruption in the operations of our manufacturing facilities or distribution centers could have a material adverse effect on our business, sales, financial condition and results of operations.
  • Failure to compete effectively could reduce our market share and significantly harm our business, sales, financial condition and results of operations.
  • Fuel shortages, or high fuel prices, could have a negative effect on the use of powered vehicles that use our products.
  • If we are unable to successfully design, develop and market new products, our business may be harmed.
  • A drive toward electric vehicles or away from vehicle ownership in general could impact our business, sales, financial condition and results of operations.
  • Our business depends on maintaining and strengthening our brands to generate and maintain ongoing demand for our products, and a significant reduction in such demand could harm our business, sales, financial condition and results of operations.
The other 48 risks
  • If we inaccurately forecast demand for our products, we may manufacture either insufficient or excess quantities, which, in either case, could adversely affect our financial performance.
  • We may not be able to effectively manage our growth.
  • If we fail to attract new customers, or fail to do so in a cost-effective manner, we may not be able to increase sales.
  • Our growth depends, in part, on expanding into additional consumer markets, and we may not be successful in doing so.
  • Competitors have attempted, and will likely continue to attempt to, imitate our products and technology. If we are unable to protect or preserve the image of our brands and proprietary rights, our business, sales, financial condition and results of operations may be harmed.
  • Our profitability may decline as a result of increasing pressure on pricing.
  • Our current and future products may experience quality problems from time to time that can result in negative publicity, litigation, product recalls, and warranty claims, which could result in decreased sales and operating margin, and harm to our brand.
  • Our reliance on foreign suppliers for some of the automotive parts we sell or include in our products presents risks to the business.
  • We depend on distribution partners to display and present our products to customers, and our failure to maintain and further develop our relationships with distribution partners could harm our business.
  • If our plans to increase sales through our DTC channel are not successful, our business, sales, financial condition and results of operations could be harmed.
  • Our future success depends on the continuing efforts of our management and key employees, and on our ability to attract and retain highly skilled personnel and senior management.
  • Our results of operations may be adversely affected by increases in labor costs, labor shortages, and/or turnover.
  • Our operations and reputation may be negatively impacted if our information technology systems fail to perform adequately or if we experience an interruption in our operations due to security threats or disruptions.
  • We are exposed to risks related to the failure to protect the integrity of individually identifiable information of our customers, vendors, suppliers and employees.
  • We depend on cash generated from our operations to support our growth, and we may need to raise additional capital, which may not be available on terms acceptable to us, or at all.
  • Events affecting the financial services industry could have an adverse impact on the Company's business operations, financial condition, and results of operations.
  • Our indebtedness may limit our ability to invest in the ongoing needs of our business and if we are unable to comply with the covenants in our current credit agreements, our business, sales, financial condition and results of operations could be harmed.
  • We are required to assess our internal control over financial reporting, and our failure to maintain effective internal control over financial reporting could harm us.
  • We previously identified a material weakness in our internal control over financial reporting, and we may experience additional material weaknesses or otherwise fail to design and maintain effective internal control over financial reporting.
  • Our disclosure controls and procedures may not prevent or detect all acts of fraud.
  • We may acquire or invest in other companies to complement our organic growth, which may not be successful and may divert financial and management resources.
  • If our goodwill, other intangible assets, or fixed assets become impaired, we may be required to record a charge to earnings.
  • Global climate change and related regulations could negatively affect our business.
  • Evolving expectations with respect to our environmental, social and governance practices may impose additional costs on us or expose us to new or additional risks.
  • We must successfully manage the demand, supply, and operational challenges brought about by any disease outbreak, including epidemics, pandemics, or similar widespread public health concerns.
  • We are exposed to political or country risk inherent in doing business in some countries, including China.
  • If we are unable to effectively adopt or react to the risks posed by and the opportunity presented by, new technology, such as artificial intelligence, machine learning, blockchain or other new approaches to data mining, we may be exposed to risks related to the adoption and application of such technology.
  • Legal, Regulatory and Compliance Risks Related to Our Business
  • We may become involved in legal or regulatory proceedings and audits.
  • We may become subject to intellectual property claims or lawsuits that could cause us to incur significant costs or pay significant damages or that could prohibit us from selling our products.
  • Sales of our products by unauthorized retailers or distributors could adversely affect our authorized distribution channels and harm our reputation.
  • We are subject to environmental, health, safety, and other governmental laws and regulations, which could subject us to liabilities, increase our costs or restrict our operations in the future.
  • Changes in, or any failure to comply with, privacy laws, regulations, and standards may adversely affect our business.
  • Our insurance policies may not provide adequate levels of coverage against all claims, and we may incur losses that are not covered by our insurance.
  • Changes in tax law or regulation, effective tax rates and unanticipated tax liabilities could adversely affect our effective income tax rate and profitability.
  • Risks Related to Ownership of Our Securities
  • Certain of our stockholders, including the Holley Stockholder and the Sponsor, may have conflicts of interest with other stockholders and may limit other stockholders' ability to influence corporate matters.
  • Warrants are exercisable for Common Stock, which could increase the number of shares eligible for future resale in the public market and result in dilution to our stockholders.
  • The Warrants may expire worthless, and the terms of the Warrants may be amended in a manner adverse to a holder if holders of at least 50% of the then-outstanding Warrants approve of such amendment.
  • The market price and trading volume of Common Stock and Warrants may be volatile.
  • Reports published by analysts, including projections in those reports that differ from our actual results, could adversely affect the market price and trading volume of Common Stock and Warrants.
  • Future sales of our Common Stock and Warrants in the public market could cause our stock price to fall.
  • We may redeem unexpired Warrants prior to their exercise at a time that is disadvantageous to the Warrant holders, thereby making the Warrants worthless.
  • The NYSE may delist our securities from trading on its exchange, which could limit stockholders’ ability to make transactions in our securities and subject us to additional trading restrictions.
  • Future issuances of debt securities and equity securities may adversely affect us, including the market price of Common Stock and may be dilutive to existing stockholders.
  • We do not intend to pay cash dividends for the foreseeable future.
  • We are a “smaller reporting company” and we have elected to comply with certain reduced reporting and disclosure requirements which could make our common stock less attractive to investors.
  • Delaware law and our certificate of incorporation and bylaws contain certain provisions, including anti- takeover provisions that limit the ability of stockholders to take certain actions and could delay or discourage takeover attempts that stockholders may consider favorable.
  • The provisions of the certificate of incorporation requiring exclusive forum in the Court of Chancery of the State of Delaware for certain types of lawsuits may have the effect of discouraging lawsuits against our directors and officers.

Legal proceedings

See Litigation in Note 18 "Commitments and Contingencies."

The opening of Item 3, Legal Proceedings.4

Sources

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