What Teleflex Incorporated told the SEC could break it.

Recently enacted tariffs were a primary contributor to a 480 bps (7.9%) gross-margin decline in 2025, alongside higher logistics/distribution costs and labor/raw-material inflation.

“For the year ended December 31, 2025, gross margin decreased 480 basis points, or 7.9%, compared to the prior year, primarily due to the adverse impact from the amortization of the step-up in carrying value of inventory and intangible assets recognized in connection with the VI Business acquisition, the adverse impact from recently enacted tariffs, an increase in logistics and distribution costs and continued cost inflation from macro-economic factors, specifically with respect to labor and raw materials.”

Supply chain depends in part on sole-source suppliers and providers of sterilization services, with exposure to resin/raw-material cost and availability fluctuations.

“the impact of inflation and disruptions in our global supply chain on us and our suppliers (particularly sole-source suppliers and providers of sterilization services), including fluctuations in the cost and availability of resins and other raw materials, as well as certain components, used in the production or sterilization of our products, transportation constraints and delays, product shortages, energy shortages or increased energy costs, labor shortages in the United States and elsewhere, and increased”

Major manufacturing is in the Czech Republic, Malaysia, Mexico and the U.S.; ~70% of net PP&E and 41% of 2025 revenue are outside the U.S., exposing the company to tariffs/trade disputes and FX.

“Our major manufacturing operations are located in the Czech Republic, Malaysia, Mexico and the United States (the "U.S.").”