Gentex
22 named things its latest annual report says its results depend on, each in the company's own words. 11 of them are also named by other companies we've read.
Customers
General Motors
earns from · 10% or more of our annual consolidated net salesnamed as a riskWe have a number of large customers, including three automotive customers which each account for 10% or more of our annual consolidated net sales in 2025 (including direct sales to OEM customers and sales through their Tier 1 suppliers): Toyota Motor Company, Volkswagen Group, and General Motors.Risk factors (Item 1A)
Automotive industry
concentrated in · approximately 89% of our net salesnamed as a riskCustomers within the auto industry comprise approximately 89% of our net sales.Risk factors (Item 1A)
Volkswagen Group
earns from · 10% or more of our annual consolidated net salesnamed as a riskWe have a number of large customers, including three automotive customers which each account for 10% or more of our annual consolidated net sales in 2025 (including direct sales to OEM customers and sales through their Tier 1 suppliers): Toyota Motor Company, Volkswagen Group, and General Motors.Risk factors (Item 1A)
Also named by PAG
Toyota Motor Company
earns from · 10% or more of our annual consolidated net salesnamed as a riskWe have a number of large customers, including three automotive customers which each account for 10% or more of our annual consolidated net sales in 2025 (including direct sales to OEM customers and sales through their Tier 1 suppliers): Toyota Motor Company, Volkswagen Group, and General Motors.Risk factors (Item 1A)
Boeing
earns fromThe Company continues to manufacture and sell variable dimmable windows for the passenger compartment on the Boeing 787 Dreamliner series of aircraft.Business (Item 1)
Partners and platforms
Solace Power
approximate 15% equity shareIn conjunction with this partnership, the Company obtained an approximate 15% equity share in Solace Power.Business (Item 1)
Mayo Clinic
In 2020, the Company unveiled an innovative lighting technology for medical applications that was co-developed with Mayo Clinic.Business (Item 1)
Other companies
VOXX International Corporation
$148.3 millionOn April 1, 2025, the Company acquired all of the issued and outstanding shares of VOXX common stock not already owned by the Company for a purchase price of $7.50 per share, resulting in VOXX becoming a wholly owned subsidiary of the Company for cash consideration totaling $148.3 million (see Note 11, "Acquisitions").Business (Item 1)
BioConnect Inc.
On July 1, 2025, the Company, in the ordinary course of business, completed its acquisition of BioConnect Inc. ("BioConnect") (see Note 11, "Acquisitions").Business (Item 1)
Competitors
Magna International (Magna Mirrors)
competes withnamed as a riskWe recognize that Magna Mirrors, our main competitor, has considerably more resources available to it, and presents a formidable competitive threat.Risk factors (Item 1A)
Places
China
operates innamed as a riskLack of IP protection in a number of countries, including China, represents a current and ongoing risk for the Company.Risk factors (Item 1A)
Also named by A, AA, AAOI, AAP, AAPL, AB, ADI, AEHR and 261 more
Zeeland and Holland, Michigan
concentrated innamed as a riskManufacturing of our proprietary products employing electro-optic technology is performed primarily at our manufacturing facilities in Zeeland and Holland, Michigan.Risk factors (Item 1A)
Germany, Austria and Switzerland
earns fromAs of April 1, 2025, pursuant to the acquisition of all of VOXX, the Company now sells and distributes certain consumer electronic products and accessories within the German, Austrian and Switzerland markets in Europe, including wireless and Bluetooth® speakers; A/V receivers; wired, wireless, and Bluetooth headphones and ear buds; solar power systems, lights and accessories; High-Definition Television antennas ("HDTV") and Multimedia Interface ("HDMI") accessories; fiber optic accessories; remote controls; home electronic accessories, including cabling, power cords, mice, keyboards, and gaming accessories; power supply systems; and charging products.Business (Item 1)
Commodities and inputs
Electronics components
depends onnamed as a riskThe current economic environment, including tariffs and inflation, continues to be uncertain, and continues to cause financial and production stresses evidenced by volatile automotive production levels, volatility with customer orders, supplier part and material shortages (especially electronics components), automotive and Tier 1 supplier plant shutdowns, customer and supplier financial issues, commodity raw material cost increases, supply constraints, consumer vehicle preference shifts (where we have a lower penetration rate and lower content per vehicle), and supply chain stresses.Risk factors (Item 1A)
Also named by EMR
Laws and programs
Conflict minerals (Dodd-Frank Act)
subject tonamed as a riskAs there are only a limited number of suppliers offering "conflict free" minerals necessary for our products, the Company cannot always be absolutely certain that we will be able to obtain necessary conflict minerals from such suppliers in sufficient quantities or at competitive prices.Risk factors (Item 1A)
U.S. tariffs on imports from China, Mexico, and Canada
subject tonamed as a riskFor example, the United States has imposed, proposed, and/or threatened tariffs on a broad range of foreign-sourced products and materials including tariffs on products imported from China, Mexico, and Canada.Risk factors (Item 1A)
China retaliatory tariffs
subject tonamed as a riskPreviously enacted tariffs have increased the Company's input costs and challenged the Company's competitive position in foreign markets, especially in China.Risk factors (Item 1A)
UN-ECE Regulation 46
subject tonamed as a riskIn July 2016, a revision to UN-ECE Regulation 46 was published with an effective date of June 18, 2016, which allows for camera monitor systems to replace mirrors within Japan and European countries.Risk factors (Item 1A)
China GB15084
subject tonamed as a riskIn 2023, China released and made effective an updated version of its GB15084, which allows for camera monitoring systems, frameless mirrors and aspheric (free-form) glass surfaces.Risk factors (Item 1A)
Technology
Camera monitoring systems
competes withnamed as a riskThe Company acknowledges that as such technology evolves over time, such as cameras replacing mirrors and/or autonomous driving, there will be increased competition.Risk factors (Item 1A)