What the 10-K filed 2026-02-27 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 2025-02-27.
Big customers
Customers the company names as a large share of revenue or receivables (it must name any worth 10% of revenue).
No specific sentence about this in the 10-K.
Key suppliers
1 newParts or manufacturing that depend on one or a few suppliers.
New “of cash flows in the previously unhedged interest payments associated with variable rate debt, the sole source of which”
Read it in the 10-K ↗
“unspecified variable rate debt, the sole source of which is due to changes in the SOFR benchmark interest rate.”
Read it in the 10-K ↗
Lawsuits and legal claims
Pending cases, settlements and what the company has set aside for them.
“On December 20, 2019, the FTC filed a lawsuit in the Northern District of Georgia against the Company and Ron Clarke.”
Read it in the 10-K ↗
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 December 31, 2025, we were in compliance with each of the covenants under the Credit Agreement.”
Read it in the 10-K ↗
“We were in compliance with all financial and non-financial covenant requirements related to our Securitization Facility as of”
Read it in the 10-K ↗
“The Company was in compliance with all financial and non-financial covenants at December 31, 2025.”
Read it in the 10-K ↗
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 ↗
Work on CPAY in a spreadsheet:
Excel workbook (a sheet per section, ten years by column, charts, links to the filings) ·
CSV.
For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/CPAY/export.csv") into a cell.