HAS: 10-K Risk Factor Changes

2026 vs 2025 · SEC EDGAR · 2026-05-22

Other years: 2025 vs 2024 · 2024 vs 2023

⚠ AI-Generated

The summary below was generated by an AI language model and may contain errors or omissions. All other content on this page is deterministically extracted from the original SEC EDGAR filing.

HAS removed one risk related to supply chain transformation while substantively modifying 12 existing risks, suggesting the company has addressed prior supply chain concerns but refined disclosures around core business vulnerabilities including consumer spending sensitivity, digital game development capabilities, and third-party licensing dependencies. The net effect of 20 unchanged risks combined with 12 modifications indicates HAS maintained its overall risk profile while recalibrating language around discretionary spending exposure and digital product execution - areas likely impacted by recent business performance or market conditions.

✓ Deterministic extraction — no AI-generated data

Classification is based on semantic text similarity scoring and may include approximations. “No match” means no high-confidence textual match was found — not necessarily that a section was removed.

New Risks

Removed

Modified

Unchanged

🔴 No Match in Current Filing

If we are not successful in transforming our supply chain operations, our business may be harmed.

This section from the 2025 filing does not have a high-confidence textual match in the 2026 filing. It may have been removed, merged, or substantially reworded.

We are continuing to optimize our supply chain by improving our systems and sourcing to enable efficient product deployment, enhance product quality and safety, drive efficiency in transportation and our fulfillment centers, and strengthen our direct-to-consumer operations. This…

View 2025 text

We are continuing to optimize our supply chain by improving our systems and sourcing to enable efficient product deployment, enhance product quality and safety, drive efficiency in transportation and our fulfillment centers, and strengthen our direct-to-consumer operations. This is a long-term project, with no assurance that we will achieve the anticipated efficiencies and benefits from such efforts. If the transformation of our supply chain operations is not 20 20 20 Table of Contents Table of Contents successful, our business may be harmed. Further we may not achieve our anticipated cost savings, and we may face costly inefficiencies or other supply chain disruptions.

🟡 Modified Economic conditions could impact discretionary consumer spending and harm our business and financial performance. 🔒

🟡 Modified Our business will suffer if we are unable to develop, publish and commercialize digital games. 🔒

🟡 Modified We may not realize the full benefit of our licenses from third parties if the licensed material has less market appeal than expected, if revenue from the licensed products is not sufficient to earn out the minimum guaranteed royalties or if licenses are not renewed. 🔒

🟡 Modified Failure to achieve our anticipated cost-savings may impact our ability to operate efficiently and profitably. 🔒

🟡 Modified If we are unable to compete effectively with existing or new competitors, our revenues, market share and profitability could decline. 🔒

🟡 Modified If we are unable to navigate through global supply chain challenges, our business may be harmed. 🔒

🟡 Modified Our reliance on third-party manufacturers presents risks to our business. 🔒

🟡 Modified Consumer interests change quickly and acceptance of our product offerings are influenced by technological and outside factors, making it difficult to design and develop innovative products and other offerings which are and will continue to be popular with children, families, fans and audiences. 🔒

🟡 Modified Our success is dependent on the efforts and dedication of our officers and other employees. 🔒

🟡 Modified If we are unable to expand our direct-to-consumer relationships, our business may be harmed. 🔒

🟡 Modified Public health crises may disrupt our business. 🔒

🟡 Modified Our business will suffer if we are not successful in executing our business strategy. 🔒

12 more changes in this filing

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