AVGOBroadcom

Technology · Semiconductors · Nasdaq

We are a global technology leader that designs, develops and supplies a broad range of semiconductor and semiconductor-based solutions and infrastructure software solutions. 10-K, Item 1

Employees: 33,000
Headquarters: Palo Alto, CA
CEO: Hock E. Tan
Next results: around Dec 10, 2026

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What the 10-K filed 2025-12-18 says about risks that are not on the face of the balance sheet, from the notes to the financial statements, Legal Proceedings and the MD&A (and, for big customers and key suppliers, Business and Risk Factors). Tickdelta picks sentences with specifics (amounts, accruals, covenant ratios) and quotes them as filed. New marks a sentence with nothing like it in the 10-K filed 2024-12-20.

Big customers

Customers the company names as a large share of revenue or receivables (it must name any worth 10% of revenue).

“For fiscal year 2025, sales to distributors accounted for 48% of our net revenue.”
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“We believe aggregate sales, through all channels, to our top five end customers accounted for approximately 40% of our net revenue for fiscal year 2025.”
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“Sales to distributors accounted for 48% of our net revenue in fiscal year 2025 and are subject to a number of risks, including:”
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“Direct sales to one semiconductor solutions customer, which is a distributor, accounted for 32% and 28% of our net revenue for fiscal years 2025 and 2024, respectively.”
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Key suppliers

Parts or manufacturing that depend on one or a few suppliers.

“We purchase a significant amount of the materials, including components, used in our products from a limited number of suppliers.”
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“During fiscal year 2025, we purchased approximately two-thirds of our manufacturing materials from five materials suppliers, some of which are single source suppliers.”
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“Our Fort Collins and Breinigsville facilities are the sole sources for the FBAR filters used in many of our wireless devices and for the InP-based wafers used in our fibre optics products, respectively.”
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Lawsuits and legal claims

1 new

Pending cases, settlements and what the company has set aside for them.

“On March 31, 2020, a securities class action lawsuit was filed against VMware and certain former officers of VMware in the United States District Court for the Northern District of California (the “California Court”).”
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“On September 18, 2020, the plaintiffs filed a consolidated amended complaint alleging that VMware’s statements about backlog and the related internal controls during the period from August 2018 through February 2020 were materially misleading.”
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“On October 8, 2021, the plaintiffs filed their Second Amended Consolidated Complaint based on the same alleged disclosure deficiencies.”
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“The parties have agreed to settlement terms and in March 2025 the California Court approved the settlement.”
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New “Restructuring and other charges in our consolidated statements of operations included a $70 million non-recurring impairment charge related to an asset held-for-sale during fiscal year 2025 and $204 million of non-recurring charges related to IP litigation during fiscal year 2023.”
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Guarantees and indemnities

Promises to pay someone else's debts or losses if they cannot.

No specific sentence about this in the 10-K.

Debt covenants

Conditions in loan agreements that, if broken, can make debt due early.

“As of November 2, 2025 and November 3, 2024, we were in compliance with all debt covenants.”
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Commitments off the balance sheet

Contracts the company must pay for later: purchase obligations, take-or-pay deals.

No specific sentence about this in the 10-K.

Sentences are chosen by their words, not read by AI, so some can be off topic. Always check the filing. Open the 10-K ↗

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