EBAY · 10-K filed 19 Feb 2026 · year to 31 Dec 2025

eBay

37 named things its latest annual report says its results depend on, each in the company's own words. 22 of them are also named by other companies we've read.

Read the filing on SEC.gov ↗

Suppliers

Third-party payment processors

depends onnamed as a risk

Any failure to comply could cause us to violate our contractual obligations to our third-party payment processors, subject us to fines, limit (or eliminate) our ability to accept the forms of payments that our consumers prefer, and increase our costs and the rates that we charge our consumers for payments services, which could materially harm our business.Risk factors (Item 1A)

Also named by CART, COST, DKNG, EXPE, GDDY, KR, RBLX, TOST

Shipping carriers

depends onnamed as a risk

If these carriers experience performance issues, including delays, losses, damage, or inaccurate tracking information, we may incur increased costs and loss rates under our eBay Money Back Guarantee program.Risk factors (Item 1A)

Also named by CDNA

Partners and platforms

Google Search (Alphabet)

depends onnamed as a risk

In addition, we rely on Google search to direct a significant amount of traffic to our platforms.Risk factors (Item 1A)

Also named by DASH, RDDT

Online application stores

depends onnamed as a risk

For example, we rely on major online application stores for distribution of our application.Risk factors (Item 1A)

PSA

depends on

We continue to expand our Focus Categories with enhancements designed for enthusiast buyers, including one-click card grading and resale for trading cards through our partnership with PSA, AI-enhanced discovery tools and interactive live shopping experiences through eBay Live.Business (Item 1)

Other companies

Aurelia Netherlands TopCo B.V.

approximately 8.3% of the outstanding equity of Aurelianamed as a risk

The value of our investment in Aurelia could fluctuate due to factors outside of our control, and a decline in value could require us to record an impairment, which could have a material adverse impact on our financial results.Risk factors (Item 1A)

Adevinta

$929 millionnamed as a risk

As of December 31, 2025, our equity investments totaled $929 million, which represented approximately 14% of our total cash and investments, and primarily related to our equity investment in Adevinta.Market risk (Item 7A)

PayPal

named as a risk

In addition, our indemnity obligations to PayPal may be significant and these risks could negatively affect our results of operations and financial condition.Risk factors (Item 1A)

Also named by AFRM, DASH, FERG, NYT, SYF

Caramel

named as a risk

As a result of this acquisition, we must comply with state-by-state automotive title transfer, identity and payment verification, finance and insurance requirements.Risk factors (Item 1A)

Competitors

Amazon

competes withnamed as a risk

Some of our competitors, such as Alibaba, Alphabet (Google), Amazon, Apple and Meta (Facebook and Instagram), are larger than we are, have greater resources, have a dominant and secure position in other industries or certain significant markets, or offer other goods and services and product ecosystems to consumers and merchants that we do not offer, which can drive consumers to, and keep them locked-in to, their platforms instead of using ours.Risk factors (Item 1A)

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

TikTok

competes withnamed as a risk

These consumers can also turn to shopping-comparison sites, such as Google Shopping, and social networks that enable purchases, such as Instagram and TikTok.Risk factors (Item 1A)

Also named by HAS, META

Shopify

competes withnamed as a risk

Sellers may also choose to sell their goods through alternative channels, such as multi-channel services like Shopify or social media platforms.Risk factors (Item 1A)

Also named by AFRM, KVYO

Alibaba

competes withnamed as a risk

Consumers and merchants that sell goods on our platforms also have many alternatives, including general ecommerce marketplaces, such as Amazon and Alibaba, and more specialized marketplaces that focus on discrete categories of products.Risk factors (Item 1A)

Places

United Kingdom

earns from · nearly half of our net revenuesnamed as a risk

Our international businesses, especially in the United Kingdom and Germany, and in cross-border sales from Greater China, have generated nearly half of our net revenues in recent years.Risk factors (Item 1A)

Also named by AGX, AJG, AMP, BAC, BF/B, BGC, BRO, C and 59 more

Germany

earns from · nearly half of our net revenuesnamed as a risk

Also named by APO, AXGN, BF/B, CPRT, DASH, GD, GDDY, KRYS and 12 more

Greater China

earns from · nearly half of our net revenuesnamed as a risk

Cross-border trade also represents our primary (or in some cases, only) presence in certain important markets, such as Greater China, and various other countries.Risk factors (Item 1A)

Also named by CGNX, ILMN, MAR, TPR

Commodities and inputs

Euro

exposed to its pricenamed as a risk

Our Marketplace platforms operate globally, resulting in certain revenues and costs that are denominated in foreign currencies, primarily the British pound and the euro, subjecting us to foreign currency risk, which may adversely impact our financial results.Market risk (Item 7A)

Also named by ABBV, ABNB, ABT, ADBE, ADI, AME, AMG, AMGN and 186 more

British pound

exposed to its pricenamed as a risk

Also named by ABBV, ADBE, AJG, AME, AMP, APA, BF/B, BRO and 39 more

Regulators

U.S. Department of Justice

subject to · $59 millionnamed as a risk

For example, pursuant to our 2024 settlement agreement with the DOJ, we paid $59 million and agreed to implement enhanced processes regarding our monitoring of listings that violate our terms of service to fully resolve the DOJ’s allegations of noncompliance with the Controlled Substances Act.Risk factors (Item 1A)

Also named by AAPL, ACN, AMAT, ASO, BEN, BSX, CAH, CDNA and 21 more

German regulator (DSA inquiry)

subject tonamed as a risk

We have received a request for information from a regulator in Germany for suspected potential non-compliance with provisions of the DSA.Risk factors (Item 1A)

Laws and programs

One Big Beautiful Bill Act (Form 1099-K reporting)

subject to · more than $20,000 and have over 200 transactionsnamed as a risk

In July 2025, the One Big Beautiful Bill Act clarified federal reporting thresholds for Form 1099-K, requiring reporting of gross payments for all sellers who receive more than $20,000 and have over 200 transactions annually.Risk factors (Item 1A)

Also named by AA, ABR, ADI, ADM, ALB, AMAT, AMGN, AMKR and 121 more

EU Artificial Intelligence Act

subject to · fines up to 35 million euros or 7% of global turnovernamed as a risk

For example, the European Union’s comprehensive Artificial Intelligence Act (“EU AI Act”), which lays out the parameters for AI systems where non-compliance can result in fines up to 35 million euros or 7% of global turnover, came into force in August 2024.Risk factors (Item 1A)

Also named by ABNB, ADP, AIOT, AKAM, ALAB, AMG, APP, AVAV and 24 more

EU Digital Services Act (DSA)

subject to · up to 6% of annual global revenuesnamed as a risk

For online platforms like ours, noncompliance with the DSA could result in fines of up to 6% of annual global revenues, which would have an adverse effect on our business.Risk factors (Item 1A)

Also named by ABNB, ADBE, BKNG, CSGP, DASH, ETSY, GDDY, GOOG and 8 more

U.S. de minimis exemption (Section 321 of the Tariff Act of 1930)

subject to · USD $800 or lessnamed as a risk

In addition, the United States eliminated the $800 “de minimis” exemption from customs duties on imported goods, which has impacted certain eBay transactions that were previously able to use this exemption.Risk factors (Item 1A)

Also named by ETSY

EU de minimis exemption

subject to · EUR 150named as a risk

The European Union has announced it will also eliminate its de minimis exemption, which is currently set at EUR 150, in July 2026.Business (Item 1)

UK de minimis threshold

subject to · £135named as a risk

For example some countries have announced retaliatory tariffs, the E.U. has announced it will remove its €150 “de minimis” exemption in July 2026 and require a €3 fee per parcel, and the U.K. is expected to follow with eliminating its £135 “de minimis threshold” for low-value imports.Risk factors (Item 1A)

U.S. state marketplace sales tax laws

subject to · 45 statesnamed as a risk

To date, 45 states, the District of Columbia and Puerto Rico have enacted Internet sales tax legislation with additional states anticipated to adopt legislation in the coming years.Risk factors (Item 1A)

U.S. tariffs

subject tonamed as a risk

For example, we saw significant changes to consumer spending throughout 2025 as our users around the world adjusted to changing global trade policies and tariffs.Risk factors (Item 1A)

Also named by A, AAPL, ACHR, ADI, AEHR, AEP, AIOT, AKAM and 170 more

General Data Protection Regulation (GDPR)

subject tonamed as a risk

Regulators have broad enforcement authority, and if we fail to comply with the GDPR (or if regulators assert that we have), we may be subject to material regulatory enforcement actions, which could require us to modify or suspend critical business activities or result in substantial monetary penalties, private lawsuits, and reputational damage.Risk factors (Item 1A)

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

Payment Card Industry Data Security Standard

subject tonamed as a risk

These rules and requirements, including the Payment Card Industry Data Security Standard and rules governing electronic funds transfers, are subject to change or reinterpretation, which can increase our cost of compliance and make it difficult to ensure continual compliance.Risk factors (Item 1A)

Also named by ABNB, AZO, BJ, BKNG, CASH, CASY, COST, DOV and 20 more

Section 230 of the Communications Decency Act

subject tonamed as a risk

For example, there are several proposals to limit or eliminate 47 U.S.C. § 230 (the Communication Decency Act), which limits liability for third-party content posted on Internet platforms, under consideration in the United States.Risk factors (Item 1A)

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

UK Online Safety Act

subject tonamed as a risk

The OSA created requirements around monitoring and handling harmful content and required us to expend resources to comply with the new regulations.Business (Item 1)

Also named by CSGP, META, RBLX, RDDT

Promoted Listings

earns fromnamed as a risk

We generate a meaningful amount of our revenue from our Promoted Listings (a first-party advertising offering) and, to a lesser extent, third-party advertising.Risk factors (Item 1A)

UK Digital Markets, Competition and Consumers Act

subject tonamed as a risk

In the UK, the DMCCA expands regulatory oversight authority over consumer protections.Risk factors (Item 1A)

DAC 7 (EU Directive 2021/514)

subject tonamed as a risk

These laws (e.g., the Directive on Administrative Cooperating Council Directive (EU) 2021/514 (“DAC 7”) in the EU and the Digital Sales Reporting Legislation (“DSR”) in the United Kingdom) may make users more reluctant to use our services due to increased sensitivity around personal data collection and reporting (e.g., the requirement to report Chinese sellers’ identity and income information to the competent China tax authority in accordance with the Regulations on Internet Platform Companies’ Submission of Tax-related Information), even when mandated by applicable laws and regulations.Risk factors (Item 1A)

eBay Money Back Guarantee

named as a risk

We expend, and expect to continue to expend, significant time and resources managing this program, and litigation, legislation, or regulation involving liability for any seller fraud or non-performance could increase our costs, lead to adverse judgments, settlements or regulatory fines and injunctions, and otherwise harm our business.Risk factors (Item 1A)

U.S. customs product safety e-filing requirement

subject tonamed as a risk

In July 2026, U.S. customs authorities are expected to implement new electronic filing requirements for importers of regulated consumer products to certify compliance with U.S. product safety standards, which would increase the operational burden on our customers importing items into the U.S. and could lead them to engage in fewer transactions, which would harm our business.Risk factors (Item 1A)