What Hamilton Beach Brands Holding Co. told the SEC could break it.

Of approximately 70 inventory suppliers, one represented more than 10% of purchases in 2025; loss of that supplier could disrupt the business short-term.

“We purchase our inventory from approximately 70 suppliers, one of which represented more than 10% of purchases during the year ended December 31, 2025.”

Certain products rely on a single third-party supplier (in some cases one supplier per product), so an unforeseen disruption could delay deliveries and limit negotiating leverage.

“Certain products rely upon a single third-party supplier. In some cases, we use a single supplier to source a single product.”

Beyond Walmart (29%) and Amazon (19%), Hamilton Beach's five largest customers together account for 62% of revenue, leaving it heavily exposed to a few large retailers' purchasing decisions.

“The Company's five largest customers accounted for approximately 62 %, 65 % and 64 % of its revenue in 2025, 2024 and 2023, respectively.”

Hamilton Beach depends on third-party suppliers for all of its products, primarily in the Asia-Pacific region with roughly two-thirds based in China.

“Our suppliers are primarily located in the Asia-Pacific region, with approximately two-thirds of our suppliers currently based in China.”

With most sourcing in China, Hamilton Beach absorbed a $5.3M one-time tariff cost in 2025 (90 bps of margin) from a temporary spike in China import tariff rates to 125%, and faces ongoing multi-tariff exposure.

“Most of these costs were from a temporary spike in tariff rates on imports from China to 125%.”

Products are built from plastic, glass, steel, copper, aluminum and packaging materials; input-price moves in these commodities flow through suppliers to Hamilton Beach's costs.

“The principal raw materials used by our third-party suppliers to manufacture our products are plastic, glass, steel, copper, aluminum and packaging materials.”