PPLI · 10-K filed 20 Feb 2026 · year to 31 Dec 2025

People Inc.

29 named things its latest annual report says its results depend on, each in the company's own words. 21 of them are also named by other companies we've read.

Read the filing on SEC.gov ↗

Suppliers

Google

depends onnamed as a risk

We have made, and expect to continue to make, significant expenditures for search engine marketing primarily in the form of the purchase of keywords, which we purchase primarily through Google and, to a lesser extent, Microsoft and Yahoo!, social media advertising and other online display advertising and traditional offline advertising in connection with these initiatives, which may not be successful or cost-effective.Risk factors (Item 1A)

Also named by ABNB, AES, APP, BKNG, CSGP, CTSH, DOCU, ETSY and 14 more

United States Postal Service

exposed to its pricenamed as a risk

Paper and postage represent a substantial portion of print-related costs and are subject to price fluctuations driven by macroeconomic conditions, supply chain disruptions, and regulatory or legislative actions, including increases in postal rates by the United States Postal Service.Risk factors (Item 1A)

Also named by BR, CI, DJCO, FDX, HIMS, PBI, UPS

Single printer and subscription management provider (Print)

depends onnamed as a risk

Our Print operations also rely on a limited number of third-party vendors, including a single subscription management provider, a single printer and a small number of wholesalers for newsstand distribution.Risk factors (Item 1A)

Partners and platforms

Google

depends onnamed as a risk

In addition, on December 10, 2025, we received a notice of non-renewal from Google that eliminated the one-year automatic extension of the Services Agreement, which will expire on March 31, 2026 unless a new agreement is entered into.Risk factors (Item 1A)

Also named by ABNB, AES, APP, BKNG, CSGP, CTSH, DOCU, ETSY and 14 more

Google

depends onnamed as a risk

In addition, search engine operators, primarily Google, offer products and services that compete directly with our offerings and may adjust search results, rankings, or page layouts to promote their own products or those of competitors, or to retain users within their platforms for longer periods of time.Risk factors (Item 1A)

Also named by ABNB, AES, APP, BKNG, CSGP, CTSH, DOCU, ETSY and 14 more

Microsoft

depends onnamed as a risk

We rely on search engines, digital app stores, advertising networks, social media platforms, and other third-party content discovery and distribution platforms (particularly those operated by Apple, Google, Microsoft, Meta and Amazon) to market, distribute, and monetize our products and services.Risk factors (Item 1A)

Also named by AAOI, AAON, AES, AJG, AMD, BLK, CDW, CEG and 13 more

Amazon

depends onnamed as a risk

Also named by AES, AFRM, ALK, AOS, APP, AXP, BBW, CART and 10 more

Apple

depends onnamed as a risk

We depend on search engines, digital app stores and social media platforms, in particular, those operated by Google, Apple and Meta, to market, distribute and monetize our products and services.Risk factors (Item 1A)

Also named by ABNB, AMKR, BBY, BKNG, CDW, GLW, INTC, META and 5 more

Meta Platforms

depends onnamed as a risk

Also named by APP, CEG

Apple News+

earns from

Content licensing royalties are earned from our relationship with AppleNews+ as well as other content use and distribution relationships, including utilization in large-language models and other artificial intelligence (“AI") related activities.Business (Item 1)

Other companies

MGM Resorts International

exposed to its price · approximately 34% of the Company’s consolidated total assetsnamed as a risk

At December 31, 2025 and 2024, the carrying value of the Company’s investment in MGM, which includes the cumulative unrealized pre-tax gains, was $2.4 billion and $2.2 billion, or approximately 34% and 23% of the Company’s consolidated total assets, respectively.Market risk (Item 7A)

Also named by VICI

Fourth-quarter holiday season

concentrated in · Approximately one-half of our consolidated annual Adjusted EBITDA

Approximately one-half of our consolidated annual Adjusted EBITDA is generated in the fourth quarter of each fiscal year.Business (Item 1)

Also named by FIVE, M

Angi Inc.

named as a risk

If either party is unable to satisfy its obligations pursuant to these agreements, including indemnification obligations, such non-compliance could have a material adverse effect on the other party’s business, financial condition and results of operations.Risk factors (Item 1A)

Places

United States

concentrated innamed as a risk

For example, demand for advertising is highly dependent upon the strength of the economy in the United States, so any general economic downturn, social or political instability, recessionary concerns, rising interest rates and increased inflation, as well as any sudden disruption in business conditions, could adversely affect demand for advertising and consumer confidence, and in turn, our business, financial condition and results of operations.Risk factors (Item 1A)

Also named by ABBV, ADP, AJG, AMGN, APA, AXGN, AXP, BALL and 139 more

United Kingdom pension plan

named as a risk

The largest remaining pension plan obligation is a funded plan in the United Kingdom.Risk factors (Item 1A)

Commodities and inputs

Secured Overnight Financing Rate (SOFR)

exposed to its price · $6.9 millionnamed as a risk

If SOFR were to increase or decrease by 100 basis points, the combined annual interest expense on the Term Loan A-1 and the Term Loan B-2, net of the impact related to the $350 million in notional amount of Interest Rate Swaps, would increase or decrease by $6.9 million.Market risk (Item 7A)

Also named by ABR, ADBE, AGM, AMG, ARCC, BCSF, BRO, CAT and 21 more

Paper

exposed to its pricenamed as a risk

Also named by EXP, RH

Regulators

U.S. Federal Trade Commission (FTC)

subject tonamed as a risk

Lastly, the U.S. Federal Trade Commission (the “FTC”) continues to increase its focus on privacy, data sharing and data security practices and we anticipate this focus to continue.Business (Item 1)

Also named by AMZN, AN, AVGO, BJ, CART, CELH, CHD, CHE and 56 more

U.S. Internal Revenue Service (IRS)

subject tonamed as a risk

In the event the IRS were to prevail with such a challenge, IAC and Angi and their respective stockholders could suffer material adverse consequences.Risk factors (Item 1A)

Also named by AAPL, ABNB, ADI, AJG, AMGN, BBSI, BMNR, BRO and 39 more

Laws and programs

California Consumer Privacy Act (CCPA)

subject tonamed as a risk

The CCPA provides data privacy rights for California consumers and restricts the ability of certain of our businesses to use personal California user and subscriber information in connection with their various products, services and operations.Business (Item 1)

Also named by AAP, AIOT, AKAM, ALL, APP, AYI, BAC, BBSI and 69 more

General Data Protection Regulation (GDPR)

subject tonamed as a risk

The GDPR will continue to be interpreted by European Union data protection regulators, which may require us to make changes to our business practices and could generate additional risks and liabilities.Business (Item 1)

Also named by A, AB, ABNB, ADBE, ADP, AGX, AIOT, AJG and 100 more

Section 230 of the Communications Decency Act

subject tonamed as a risk

Any future adverse changes to Section 230 could result in additional compliance costs for us and/or exposure to additional liabilities.Business (Item 1)

Also named by APP, DOCN, EBAY, GOOG, META, RBLX, RDDT, TWLO and 1 more

Digital services taxes (Canada, United Kingdom, Italy)

subject tonamed as a risk

Certain of our businesses are subject to digital services taxes in one or more of the jurisdictions listed above and similar proposed tax laws could adversely affect our business, financial condition and results of operations.Business (Item 1)

Also named by GOOG, GTLB, PINS, TEAM

Worker classification laws

subject tonamed as a risk

We continue to monitor such laws to ensure compliance, and if we are required to reclassify professionals from independent contractors to employees and/or the classification of professionals as independent contractors is challenged for any reason, we could be exposed to various liabilities and additional costs for prior and future periods, including exposure under federal, state and local tax laws, workers’ compensation and unemployment benefits, minimum and overtime wage laws and other labor and employment laws, as well as potential liability for penalties and interest.Business (Item 1)

Also named by COMP

Google Services Agreement

earns fromnamed as a risk

The majority of the paid listings displayed by Ask Media Group is supplied to us by Google Inc. (“Google”) pursuant to our services agreement with Google, dated as of October 26, 2015 and as subsequently amended (the “Services Agreement”).Business (Item 1)

FTC Negative Option Rule

subject tonamed as a risk

While the Amended Negative Option Rule was judicially vacated on procedural grounds in July 2025, it is possible that the current or a future FTC may seek to implement a revised version of the Amended Negative Option Rule, with provisions that may require changes to the manner in which our businesses market subscription-based products and services.Business (Item 1)

European Union Payment Services Directive

subject tonamed as a risk

In addition, the European Union Payment Services Directive, which became effective in 2018, could impact the ability of certain of our businesses to efficiently process auto-renewal payments for, as well as offer promotional or differentiated pricing to, users who reside in the European Union.Business (Item 1)

Technology

Third-party cookies

depends onnamed as a risk

In addition, any phasing out (or blocking) of third-party cookies by web browsers could adversely affect our business, financial condition and results of operations.Risk factors (Item 1A)

Also named by MGNI, ZETA

AI search and generated answers

competes withnamed as a risk

The growing prevalence of these features, as well as other changes in how content is served or consumed, has created and may continue to create headwinds for our business by reducing traffic and engagement opportunities.Risk factors (Item 1A)