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HLMN on Nasdaq

Hillman Solutions Corp.

Hillman Solutions Corp. is an American cutlery company, incorporated in Delaware, listed on Nasdaq (HLMN).1 It is headquartered in Cincinnati, Ohio.1

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Last updated Oct 21, 2026.

Overview

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  • TickerHLMN on Nasdaq1
  • IndustryCutlery, Handtools & General Hardware1
  • HeadquartersCincinnati, Ohio1
  • Incorporated inDE2
  • Business address1280 Kemper Meadow Dr., Cincinnati, Oh 452402
  • Filer categoryLarge accelerated filer2

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Hillman Solutions Corp. and its wholly-owned subsidiaries (collectively, “Hillman” or “Company”) are one of the largest providers of hardware-related products and related merchandising services to retail markets in North America. Our principal business is operated through our wholly-owned subsidiary, Hillman, which had net sales of approximately $1,552.2 million in 2025. Hillman sells its products to hardware stores, home centers, mass merchants, pet supply stores, and other retail outlets principally in the United States, Canada, Mexico, Latin America, and the Caribbean. Product lines include thousands of small parts such as fasteners and related hardware items; threaded rod and metal shapes; keys; builder's hardware; personal protective equipment, such as gloves and eye-wear; rope and chain; and identification items, such as tags and letters, numbers, and signs. We support product sale…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

7.3%Operating margin5
2.6%Net margin5
5.4%Revenue growth, 20255
3.3%Return on equity5
0.54×Debt to equity5

What sells

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

Products and services

Fastening and Hardware brought in 68% of the revenue Hillman Solutions Corp. broke down this way in fiscal 2025.

  1. Fastening and Hardware$1.1B568%up 3% from 2024
  2. Personal Protection Solutions$270.9M517%up 18% from 2024
  3. Key and Key Fob$189.0M512%up 6% from 2024
  4. Engraving$41.0M53%down 15% from 2024
Products and services by year
Products and services202320242025
Fastening and Hardware$1.0B$1.0B$1.1B
Personal Protection Solutions$216.4M$229.9M$270.9M
Key and Key Fob$186.0M$178.1M$189.0M
Engraving$52.2M$48.1M$41.0M

Business segments

Fasteners, Hardware and Personal Protection brought in 77% of the revenue Hillman Solutions Corp. broke down this way in fiscal 2025.

  1. Fasteners, Hardware and Personal Protection$1.2B577%up 8% from 2024
  2. Robotics and Digital Solutions$220.2M514%up 2% from 2024
  3. Canada$138.1M59%down 7% from 2024
Business segments by year
Business segments202320242025
Fasteners, Hardware and Personal Protection$1.1B$1.1B$1.2B
Robotics and Digital Solutions$229.5M$216.7M$220.2M
Canada$156.5M$147.9M$138.1M

Regions

United States brought in 90% of the revenue Hillman Solutions Corp. broke down this way in fiscal 2025.

  1. United States$1.4B590%up 7% from 2024
  2. Canada$138.1M59%down 7% from 2024
  3. Mexico$15.1M51%down 15% from 2024
Regions by year
Regions202320242025
United States$1.3B$1.3B$1.4B
Canada$156.5M$147.9M$138.1M
Mexico$12.6M$17.8M$15.1M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Research and development0¢$1.4M
  • Selling, general and admin32¢$502.0M
  • Other costs64¢$992.3M
  • Income tax1¢$16.3M
  • Profit3¢$40.3M

Out of $1.6B in revenue.5

Where each dollar of operating cash went, fiscal 2025

  • Share buybacks12¢$12.4M
  • Kept or used elsewhere88¢$92.8M

Out of $105.2M of cash from operations.5

Financial statements

Revenue67895$1.6B in 2025+28% since 2019
0$500.0M$1.0B$1.5B$2.0B2019: $1.2B$1.2B20192020: $1.4B$1.4B2020+13%2021: $1.4B$1.4B2021+4%2022: $1.5B$1.5B2022+4%2023: $1.5B$1.5B2023−1%2024: $1.5B$1.5B2024−0%2025: $1.6B$1.6B2025+5%
Operating income10895$114.0M in 2025
-$50.0M0$50.0M$100.0M$150.0M2019: $0$020192020: -$1.3M-$1.3M20202021: $10.3M$10.3M20212022: $39.9M$39.9M2022+287%2023: $60.9M$60.9M2023+53%2024: $88.8M$88.8M2024+46%2025: $114.0M$114.0M2025+28%
Net income10895$40.3M in 2025
-$40.0M-$20.0M0$20.0M$40.0M$60.0M2019: $0$020192020: -$28.9M-$28.9M20202021: -$38.3M-$38.3M2021+33%2022: -$16.4M-$16.4M2022−57%2023: -$9.6M-$9.6M2023−42%2024: $17.3M$17.3M20242025: $40.3M$40.3M2025+134%

Every line of the income statement as filed: the last 3 fiscal years, latest first.5

Period ending2025-12-312024-12-312023-12-31
Net sales$1.6B$1.5B$1.5B
Cost of sales (exclusive of depreciation and amortization shown separately below)$795.9M$764.7M$829.0M
Selling, General and Administrative Expense$502.0M$488.7M$452.1M
Depreciation$79.9M$68.8M$59.3M
Amortization$61.2M$61.3M$62.3M
Other (income) expense, net-$722.0K$361.0K$12.8M
Income from operations$114.0M$88.8M$60.9M
Interest expense, net$56.5M$59.2M$68.3M
Refinancing costs$906.0K$3.0M$0
Income (loss) before income taxes$56.6M$26.6M-$7.4M
Income tax expense$16.3M$9.3M$2.2M
Net income (loss)$40.3M$17.3M-$9.6M
Foreign currency translation adjustments$6.8M-$16.5M$4.8M
Hedging activity-$3.0M$2.6M-$11.6M
Total other comprehensive income (loss)$3.8M-$13.8M-$6.8M
Comprehensive income (loss)$44.1M$3.4M-$16.4M
Basic income (loss) per share$0.20$0.09-$0.05
Weighted average basic shares outstanding197.5M shares196.1M shares194.7M shares
Earnings Per Share, Diluted$0.20$0.09-$0.05
Weighted Average Number of Shares Outstanding, Diluted199.5M shares198.9M shares194.7M shares

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Corporate structure

Hillman Solutions Corp. sits at the top of its group. 2 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Hillman Solutions Corp.

  • Hillman Solutions Corp. Cincinnati, Ohio
    • Incorporated in the State of Subsidiary · Delaware, United States

Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Hillman Solutions Corp. 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$660.2M5 Dec 27, 2025$600.3M5 Dec 28, 2024+10.0%
Accumulated depreciation$428.7M5 Dec 27, 2025$376.1M5 Dec 28, 2024+14.0%
Property and equipment, net$231.5M5 Dec 27, 2025$224.2M5 Dec 28, 2024+3.3%
Finance-lease assets$18.8M5 Dec 27, 2025$9.4M5 Dec 28, 2024+99.4%
Operating-lease assets (leased space)$75.2M5 Dec 27, 2025$81.7M5 Dec 28, 2024−8.0%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$27.3M5 Dec 27, 2025$44.5M5 Dec 28, 2024−38.7%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$830.7M5 Dec 27, 2025$828.6M5 Dec 28, 2024+0.3%
Intangible assets, net (excluding goodwill)$546.2M5 Dec 27, 2025$605.9M5 Dec 28, 2024−9.9%
Accumulated amortization$592.7M5 Dec 27, 2025$530.4M5 Dec 28, 2024+11.8%

Inventory

ItemLatestA year beforeChange
Inventory, total$485.9M5 Dec 27, 2025$403.7M5 Dec 28, 2024+20.4%

Properties, in its own words

As of December 27, 2025, our principal office, manufacturing, and distribution properties were as follows:

Business Segment · ApproximateSquareFootage · Description

The rest of Item 2

Hardware and Protective Solutions & Robotics and Digital Solutions

Belton, Missouri · 305,000 · Distribution

Cincinnati, Ohio · 270,000 · Office, Distribution

Dallas, Texas · 166,000 · Distribution

Forest Park, Ohio (1) · 428,000 · Office, Distribution

Jacksonville, Florida · 193,000 · Distribution

Jonestown, Pennsylvania · 187,000 · Distribution

Shafter, California · 168,000 · Distribution

Tempe, Arizona · 184,000 · Office, Mfg., Distribution

Hardware and Protective Solutions

Atlanta, Georgia · 14,000 · Office

Guadalajara, Mexico · 12,000 · Office, Distribution

Pompano Beach, Florida · 39,000 · Office, Distribution

Monterrey, Mexico · 13,000 · Distribution

Shannon, Georgia · 421,000 · Office, Mfg., Distribution

Hamilton, Ohio · 58,000 · Mfg., Distribution

Salem, Oregon · 31,000 · Distribution

Tyler, Texas (2) · 202,000 · Office, Mfg., Distribution

Villa Rica, Georgia · 275,000 · Office, Mfg., Distribution

Shakopee, Minnesota · 168,000 · Office, Distribution

Golden Valley, Minnesota · 4,400 · Office

Robotics and Digital Solutions

Boulder, Colorado · 8,000 · Office

Canada

Burnaby, British Columbia · 29,000 · Distribution

Edmonton, Alberta · 100,000 · Distribution

Laval, Quebec · 34,000 · Distribution

Scarborough, Ontario · 23,000 · Mfg., Distribution

Toronto, Ontario · 456,000 · Office, Distribution

Winnipeg, Manitoba · 42,000 · Distribution

(1)The Company leases two facilities in Forest Park, Ohio. This first is the Company's 43,000 square foot corporate office headquarters located at 1280 Kemper Meadow Road. The second is a 385,000 square foot distribution center located at 1700 Carillon Boulevard.

(2)The Company leases two facilities in Tyler, Texas. The first is a 139,000 square foot facility located at 2329 E. Commerce Street used for manufacturing and distribution. The second is a 63,000 square foot facility located at 6357 Reynolds Road used for offices, manufacturing, and distribution.

All of the Company's facilities are leased. In the opinion of the Company's management, the Company's existing facilities are in good condition.

19| December 27, 2025 Form 10-K

Item 2 of the 10-K filed Feb 17, 2026.4

Leadership

Who has led Hillman Solutions Corp., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Douglas Cahill2021–2024
  2. Jon Adinolfi2025–now

Chair

  1. Douglas Cahill2025–now

President

  1. Richard B. Handler2020
  2. Douglas Cahill2021–2024
  3. Jon Adinolfi2021–now
  4. Scott Ride2021–2025

Chief financial officer

  1. Rick Liem2020

Chief operating officer

  1. Jon Adinolfi2023–2024
2025
Board members and other officers (24)

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • Incorporated in the State of Delaware3

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Former names

  • Landcadia Holdings III, Inc.Aug 27, 2020 to Jul 14, 20212

Timeline

  1. Sep 3, 20268-K Entered a material agreement; Completed an acquisition or sale; Other events43
  2. Aug 4, 20268-K Entered a material agreement; Results of operations; Regulation FD disclosure44
  3. Jul 22, 20268-K Entered a material agreement45
  4. Jul 13, 20268-K Results of operations; Regulation FD disclosure46
  5. Jun 5, 20268-K Shareholder vote47
  6. Apr 27, 20268-K Results of operations48
  7. Mar 24, 20268-K Regulation FD disclosure49
  8. Feb 17, 20268-K Results of operations50
  9. Nov 4, 20258-K Results of operations51
  10. Sep 19, 20258-K Executive or director change52
  11. Aug 29, 20258-K Executive or director change53
  12. Aug 5, 20258-K Results of operations; Other events54
  13. Jan 14, 2025New chief executive Jon Adinolfi becomes CEO13
  14. Jul 19, 2021New chief executive Douglas Cahill becomes CEO14

Calendar

Coming up

  1. Nov 2, 2026 · After the closeReports results for the quarter ending Sep/2026 A year earlier it reported $0.22 a share, on Nov 4, 2025.55

When it reported results

  1. Aug 4, 2026Reported quarterly or annual results44
  2. Jul 13, 2026Reported quarterly or annual results46
  3. Apr 27, 2026Reported quarterly or annual results48
  4. Feb 17, 2026Reported quarterly or annual results50
  5. Nov 4, 2025Reported quarterly or annual results51
  6. Aug 5, 2025Reported quarterly or annual results54
  7. Apr 29, 2025Reported quarterly or annual results56
  8. Feb 18, 2025Reported quarterly or annual results57

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

Filings

318 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 43 major events, 157 insider forms, 31 large holders, 67 other. The latest 20:

  1. Oct 13, 2026SCHEDULE 13G/A EDGAR
  2. Sep 14, 20264 EDGAR
  3. Sep 10, 20264 EDGAR
  4. Sep 9, 2026144 EDGAR
  5. Sep 9, 20264 EDGAR
  6. Sep 3, 20268-K EDGAR
  7. Aug 24, 20264 EDGAR
  8. Aug 19, 2026144 EDGAR
  9. Aug 6, 2026SCHEDULE 13G/A EDGAR
  10. Aug 4, 202610-Q EDGAR
  11. Aug 4, 20268-K EDGAR
  12. Jul 22, 20268-K EDGAR
  13. Jul 13, 20268-K EDGAR
  14. Jun 9, 20264 EDGAR
  15. Jun 8, 20264 EDGAR
  16. Jun 8, 20264 EDGAR
  17. Jun 8, 20264 EDGAR
  18. Jun 8, 20264 EDGAR
  19. Jun 8, 20264 EDGAR
  20. Jun 8, 20264 EDGAR

The 318 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

34 open-market trades by officers, directors and large owners since October 2021: 12 buys and 22 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Sep 11, 2026Kraft Robert O.CFO and TreasurerBuy35,500$7.00$248.5KForm 4
Sep 9, 2026Kitzberger AmandaChief Leg. Offic. & SecretarySale13,750$7.25$99.7KForm 4
Aug 19, 2026Parker Aaron JerrodChief People Offic.Sale17,381$8.57$149.0KForm 4
Mar 10, 2026Moore Scott KelleyDiv. Pres. - Robo. and DigitalSale1,451$8.29$12.0KForm 4
Mar 10, 2026Kitzberger AmandaChief Leg. Offic. & SecretarySale11,804$8.29$97.9KForm 4
Aug 8, 2025Parker Aaron JerrodChief People Offic.Sale4,532$9.86$44.7KForm 4
May 1, 2025Kraft Robert O.CFO and TreasurerBuy140,000$7.09$992.6KForm 4
Feb 20, 2025Ride ScottPresident, Hillman CanadaSale12,359$10.06$124.3KForm 4
Dec 6, 2024Woodlief PhilipDirectorSale19,779$11.18$221.1KForm 4
Nov 18, 2024Ride ScottPresident, Hillman CanadaSale72,523$10.67$773.8KForm 4
Jun 5, 2024Jagdfeld AaronDirectorSale49,447$9.04$447.0KForm 4
Mar 14, 2024Adinolfi Jon MichaelPresident & CEOSale110,000$9.81$1.1MForm 4
Mar 8, 2024Parker Aaron JerrodChief People Offic.Sale1,723$9.90$17.1KForm 4
Mar 4, 2024FAGUNDO RANDALL JDiv. Pres. - Robo. and DigitalSale85,207$9.58$816.3KForm 4
Mar 1, 2024FAGUNDO RANDALL JDiv. Pres. - Robo. and DigitalSale250,546$9.63$2.4MForm 4
Feb 29, 2024Seeds GaryEVP, Sales and Field ServiceSale53,699$9.68$519.8KForm 4
Feb 28, 2024Seeds GaryEVP, Sales and Field ServiceSale163,975$9.53$1.6MForm 4
Feb 27, 2024SWYGERT JOHN WDirectorSale7,207$9.74$70.2KForm 4
Feb 26, 2024Ride ScottPresident, Hillman CanadaSale106,184$9.40$998.1KForm 4
May 18, 2023Woodlief PhilipDirectorBuy10,000$7.91$79.1KForm 4

All 34 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
2025Jon Michael AdinolfiCEO50$692.3K$3.7M74
2025Douglas J. CahillExecutive Chairman66$800.0K$3.4M74
2025Scott C. RidePresident, Hillman Canada$385.9K$2.3M74
2025Robert O. KraftCFO and Treasurer55$500.0K$1.8M74
2025Robert D. DavisEVP, Global Supply Chain67$400.0K$1.2M74
2025Brett A. HillmanEVP, Sales46$325.0K$985.7K74
2025Amanda M. KitzbergerChief Legal Officer45$346.5K$964.8K74
2024Douglas J. CahillExecutive Chairman66$800.0K$4.4M74
2024Robert O. KraftCFO and Treasurer55$500.0K$3.3M74
2024Jon Michael AdinolfiCEO50$500.0K$1.7M74
2024Scott C. RidePresident, Hillman Canada$307.0K$860.2K74
2023Jon Michael AdinolfiCEO50$446.2K$4.0M74
2023Douglas J. CahillExecutive Chairman66$746.2K$3.6M74
2023Robert O. KraftCFO and Treasurer55$454.2K$1.5M74
2023Scott C. RidePresident, Hillman Canada$304.6K$897.1K74

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
Fmr LLC17,710,532$149.5M0.0%+3,311,777
BlackRock, Inc.14,826,747$125.1M0.0%+621,620
Kayne Anderson Rudnick Investment Management LLC11,438,848$96.5M0.3%−875,296
Reinhart Partners, Llc.11,155,359$94.2M2.1%−287,803
Bank Of Montreal /can/10,297,030$86.9M0.0%−73,150
Dimensional Fund Advisors LP10,195,613$86.0M0.0%+536,538
Vanguard Portfolio Management LLC8,943,068$75.5M0.0%+148,583
Vanguard Capital Management LLC8,709,508$73.5M0.0%−33,443
American Century Companies Inc8,592,562$72.5M0.0%+787,088
Jefferies Financial Group Inc.7,976,734$67.3M0.6%−11,469
Allspring Global Investments Holdings, LLC6,144,155$50.0M0.1%−583,316
Jpmorgan Chase & Co5,895,619$49.2M0.0%−358,254
Geode Capital Management, LLC5,285,788$44.6M0.0%+265,278
State Street Corp4,753,500$40.1M0.0%+342,114
Neuberger Berman Group LLC4,036,801$34.0M0.0%+1,614,744
Barrow Hanley Mewhinney & Strauss LLC3,566,962$30.1M0.1%−348,265
Massachusetts Financial Services Co /ma/3,308,256$27.9M0.0%−107,314
Goldman Sachs Group Inc2,917,923$24.6M0.0%+1,754,809
Anchor Capital Management Company, LLC2,574,265$21.7M22.4%+38,787
Charles Schwab Investment Management Inc2,465,424$20.8M0.0%−152,658
Northern Trust Corp2,011,947$17.0M0.0%−37,990
Punch & Associates Investment Management, Inc.1,880,839$15.9M0.8%+106,730
Wellington Management Group Llp1,556,568$13.1M0.0%−342,788
Jones Financial Companies Lllp1,529,340$13.0M0.0%−125,655
Bank Of America Corp /de/1,500,165$12.7M0.0%+135,240

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

Members of Congress who traded it

3 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

DateMemberTradeAmountVs S&P sinceFiling
Apr 17, 2025Josh GottheimerDemocratic, HouseSale$1,001 - $15,000+51.5%Report
Mar 3, 2025Gilbert Ray Cisneros, Jr.Democratic, HouseBuy$1,001 - $15,000−55.3%Report
Apr 25, 2024Josh GottheimerDemocratic, HouseBuy$1,001 - $15,000−78.3%Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

SEC filer profile

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

  • Name on EDGARHillman Solutions Corp.1
  • CIK0001822492
  • Employer ID (EIN)85-20967344
  • Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company4
  • Incorporated inDelaware4
  • Fiscal year endsDecember 261
  • Industry code (SIC)3420 Cutlery, Handtools & General Hardware1
  • SEC reviewing officeOffice of Manufacturing, Division of Corporation Finance1
  • Business address1280 Kemper Meadow Dr., Cincinnati, OH 452401
  • Phone513-851-49001
  • Shares outstanding194,544,999 as of Jul 31, 202612
  • Public float$1.4B as of Jun 28, 20254
  • AuditorDeloitte & Touche LLP, Cincinnati, OH PCAOB ID 34; it also attests to the company’s internal control over financial reporting4
  • On EDGAR sinceAug 27, 20201
  • Filings450 in all: 4 (161), 8-K (63), 3 (35), 144 (22), 10-Q (18), 425 (16), CORRESP (13), SC 13G/A (13)1
    All 40 form types

    UPLOAD (12), SC 13G (11), SCHEDULE 13G/A (7), 10-K (6), 424B7 (6), 424B3 (5), DEF 14A (5), EFFECT (5), SC 13D/A (5), SCHEDULE 13G (5), SD (5), ARS (4), S-1/A (4), 424B5 (3), S-4/A (3), 15-12B (2), 25-NSE (2), POS AM (2), S-1 (2), S-8 (2), SC 13D (2), 10-K/A (1), 424B4 (1), 5 (1), 8-A12B (1), 8-K/A (1), CERT (1), DEFA14A (1), DRS (1), PRE 14A (1), S-3ASR (1), S-4 (1)

  • Latest filingsAnnual report (10-K) Feb 17, 2026
    Quarterly report (10-Q) Aug 4, 2026
    Proxy statement (DEF 14A) Apr 22, 2026
    Latest 8-K (8-K) Sep 3, 2026

Risk factors and legal proceedings

The risks Hillman Solutions Corp. names in Item 1A of its 10-K filed Feb 17, 2026: 26 risks under these headings, as written.4

  • Our sales are dependent upon the health and stability of the general economy. Adverse changes in economic factors specific to the home improvement industry may adversely affect our sales and financial performance.
  • Large customer concentration and the inability to penetrate new channels of distribution could adversely affect our business.
  • To compete successfully, we must develop and commercialize a continuing stream of innovative new products that create consumer demand.
  • Acquisitions have formed a significant part of our growth strategy in the past and may continue to do so. If we are unable to identify suitable acquisition candidates, successfully integrate an acquired business, or obtain financing needed to complete an acquisition, our growth strategy may not succeed.
  • Our results of operations could be negatively impacted by inflation or deflation in supply chain costs, including raw materials, sourcing, transportation and energy.
  • We are subject to inventory management risks: insufficient inventory may result in increased costs, lost sales and lost customers, while excess inventory may increase our costs.
  • Because our business is working capital intensive, we rely on our ability to manage our product purchasing and customer credit policies.
  • We are subject to the risks of doing business internationally.
  • Successful sales and marketing efforts depend on our ability to recruit and retain qualified employees.
  • Increases in labor costs, potential labor disputes and work stoppages or an inability to hire skilled distribution, sales and other personnel could adversely affect our business.
  • Our success is highly dependent on information and our technology systems, as well as those of our third party vendors and business partners.
  • Complications with the design or implementation of our new enterprise resource planning ("ERP") system could adversely impact our business and operations.
The other 14 risks
  • Unauthorized disclosure of personal, sensitive or confidential customer, employee, supplier, or Company information, whether through a breach of our computer systems, or those of our third party vendors and business partners, including cyber-attacks or otherwise, could severely harm our business.
  • Failure to adequately protect intellectual property could adversely affect our business.
  • Our success depends in part on our ability to operate without infringing on or misappropriating the proprietary rights of others, and if we are unable to do so we may be liable for damages.
  • We have significant indebtedness that could affect operations and financial condition and prevent us from successfully executing our strategy.
  • Despite current indebtedness levels, we may still be able to incur substantially more debt. This could further exacerbate the risks associated with our substantial leverage.
  • We rely on available borrowings under the Asset-Based Revolving credit facility (“ABL Revolver”) for cash to operate our business, and the availability of credit under the ABL Revolver may be subject to significant fluctuation.
  • We are subject to fluctuations in interest rates.
  • The failure to meet certain financial covenants required by our credit agreements may materially and adversely affect assets, financial position, and cash flows.
  • Volatility and weakness in bank and capital markets may adversely affect credit availability and related financing costs for us.
  • We are exposed to adverse changes in currency exchange rates.
  • If we were required to write down all or part of our goodwill or indefinite-lived trade names, our financial condition and results of operations could be materially adversely affected.
  • We are subject to legal proceedings and legal compliance risks.
  • Our business may be adversely affected by seasonality.
  • Future tax law changes may materially increase our prospective income tax expense.

Legal proceedings

We are subject to various claims and litigation that arise in the normal course of business. For a description of our material legal proceedings, see Note 15 - Commitments and Contingencies of the Notes to Consolidated Financial Statements included in this Annual Report on Form 10-K.

Dispute with Kiosk Development Partner

On December 16, 2024, the Company entered into a settlement agreement with a kiosk development partner (the “Kiosk Partner”), pursuant to which the Company paid the Kiosk Partner a $5 million settlement on December 30, 2024 to resolve all claims and disputes alleged by the Kiosk Partner. The Kiosk Partner’s claims alleged that, among other things, the Company failed to pay certain per key royalty fees to the Kiosk Partner allegedly owed under a joint development agreement dating back over 10 years ago. Though the Company believes it had strong defenses to the claims made by the Kiosk Partner, the Company opted to settle the matter before litigation was filed in order to avoid the cost and uncertainty of protracted litigation.

The opening of Item 3, Legal Proceedings.4

Sources

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