Tetra Tech (TTEK): what its 10-K says it depends on

Customers

U.S. federal government

earns from · 31.6%named as a risk

All contracts with the U.S. federal government may be terminated by the government at any time, with or without cause.Business (Item 1)

Also named by ACN, ADSK, AKAM, AMRC, APG, CACI, CBRE, CI and 25 more

U.S. federal, state and local government agencies

earns from · 46.1% of our revenuenamed as a risk

In fiscal 2025, we generated 46.1% of our revenue from contracts with U.S. federal, and state and local government agencies.Risk factors (Item 1A)

Also named by GVA

United States Agency for International Development (USAID)

earns from · 10.6%, 13.0% and 12.2% of our revenue in fiscal 2025, 2024 and 2023named as a risk

The United States Agency for International Development ("USAID") accounted for 10.6%, 13.0% and 12.2% of our revenue in fiscal 2025, 2024 and 2023, respectively.Business (Item 1)

USAID

earns from · $92.4 millionnamed as a risk

Our fiscal 2025 operating income reflects a non-cash goodwill impairment charge of $92.4 million related to our Global Development Services reporting unit due to the cancellation of USAID contracts (see Note 6, "Goodwill and Intangible Assets" of the "Notes to Consolidated Financial Statements" included in Item 8).Risk factors (Item 1A)

U.S. state and local government

earns from · 14.5%named as a risk

In addition, public-supported financing such as U.S. state and local municipal bonds may be only partially raised to support existing projects.Risk factors (Item 1A)

U.S. Department of Defense (DoD)

earns from · 11.6%, 8.5% and 8.9% of our revenue in fiscal 2025, 2024 and 2023

The Department of Defense ("DoD") accounted for 11.6%, 8.5% and 8.9% of our revenue in fiscal 2025, 2024 and 2023, respectively.Business (Item 1)

Also named by ACN, ALSN, AVAV, CLS, CRWD, FLR, HEI, JCI and 12 more

Federal Aviation Administration

earns from

We provide technical support for the Federal Aviation Administration to optimize the U.S. airspace system and support for related aviation systems integration for the U.S. and other countries' metropolitan airports.Business (Item 1)

Also named by ACHR, AIR, ALK, AMT, AVAV, BA, BRK/B, CCI and 27 more

Other companies

RPS Group plc

$784 million

In fiscal 2023, we completed the acquisition of RPS Group plc ("RPS"), a publicly traded company on the London Stock Exchange in an all-cash transaction totaling $784 million.Business (Item 1)

Competitors

AECOM

competes with

We believe that our principal competitors include the following firms, in alphabetical order: AECOM; Arcadis NV; AtkinsRéalis; Black & Veatch Corporation; Booz Allen Hamilton; Brown & Caldwell; CDM Smith Inc.; Exponent, Inc.; GHD; ICF International, Inc.; Jacobs Solutions, Inc.; Leidos, Inc.; SAIC; Stantec Inc.; TRC Companies, Inc.; Weston Solutions, Inc.; and WSP Global Inc.Business (Item 1)

Jacobs Solutions, Inc.

competes with

We believe that our principal competitors include the following firms, in alphabetical order: AECOM; Arcadis NV; AtkinsRéalis; Black & Veatch Corporation; Booz Allen Hamilton; Brown & Caldwell; CDM Smith Inc.; Exponent, Inc.; GHD; ICF International, Inc.; Jacobs Solutions, Inc.; Leidos, Inc.; SAIC; Stantec Inc.; TRC Companies, Inc.; Weston Solutions, Inc.; and WSP Global Inc.Business (Item 1)

WSP Global Inc.

competes with

We believe that our principal competitors include the following firms, in alphabetical order: AECOM; Arcadis NV; AtkinsRéalis; Black & Veatch Corporation; Booz Allen Hamilton; Brown & Caldwell; CDM Smith Inc.; Exponent, Inc.; GHD; ICF International, Inc.; Jacobs Solutions, Inc.; Leidos, Inc.; SAIC; Stantec Inc.; TRC Companies, Inc.; Weston Solutions, Inc.; and WSP Global Inc.Business (Item 1)

Stantec Inc.

competes with

We believe that our principal competitors include the following firms, in alphabetical order: AECOM; Arcadis NV; AtkinsRéalis; Black & Veatch Corporation; Booz Allen Hamilton; Brown & Caldwell; CDM Smith Inc.; Exponent, Inc.; GHD; ICF International, Inc.; Jacobs Solutions, Inc.; Leidos, Inc.; SAIC; Stantec Inc.; TRC Companies, Inc.; Weston Solutions, Inc.; and WSP Global Inc.Business (Item 1)

Places

Canada

earns from · 37.4% of our revenuenamed as a risk

In fiscal 2025, we generated 37.4% of our revenue from our international operations, primarily in Australia, Canada, Europe, the United Kingdom and from international clients for work that is performed by our domestic operations.Risk factors (Item 1A)

Also named by AAP, AJG, ALL, AMRC, AOS, ARE, BBY, BF/B and 97 more

United Kingdom

earns from · 37.4% of our revenuenamed as a risk

In fiscal 2025, we generated 37.4% of our revenue from our international operations, primarily in Australia, Canada, Europe, the United Kingdom and from international clients for work that is performed by our domestic operations.Risk factors (Item 1A)

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

Europe

earns from · 37.4% of our revenuenamed as a risk

In fiscal 2025, we generated 37.4% of our revenue from our international operations, primarily in Australia, Canada, Europe, the United Kingdom and from international clients for work that is performed by our domestic operations.Risk factors (Item 1A)

Also named by ADSK, AME, AMRC, ATR, BCSF, BKNG, BMI, BMY and 60 more

Australia

earns from · 37.4% of our revenuenamed as a risk

In fiscal 2025, we generated 37.4% of our revenue from our international operations, primarily in Australia, Canada, Europe, the United Kingdom and from international clients for work that is performed by our domestic operations.Risk factors (Item 1A)

Also named by AJG, ARWR, AXP, BF/B, BTU, CL, CSGP, CVX and 15 more

Commodities and inputs

SOFR

exposed to its price · $200 million in outstanding borrowingsnamed as a risk

At September 28, 2025, we had $200 million in outstanding borrowings under the Amended Credit Agreement, which consisted of $200 million under the 5Y Term Loan Facility and no borrowings under the Amended Revolving Credit Facility.Market risk (Item 7A)

Also named by AAP, AIOT, APG, APH, ARES, AXON, BGC, BR and 82 more

Canadian dollar

exposed to its pricenamed as a risk

In the normal course of business, we have exposure to both interest rate risk and foreign currency transaction and translation risk, primarily related to the Canadian and Australian dollars, the Euro, and the British Pound.Market risk (Item 7A)

Also named by ABBV, ADBE, AMG, AYI, BBY, BWXT, CBRE, CDRE and 67 more

Euro

exposed to its pricenamed as a risk

The majority of our transactions are in U.S. dollars; however, some of our subsidiaries conduct business in foreign currencies, primarily the Canadian and Australian dollars, the Euro, and British Pound.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

The majority of our transactions are in U.S. dollars; however, some of our subsidiaries conduct business in foreign currencies, primarily the Canadian and Australian dollars, the Euro, and British Pound.Market risk (Item 7A)

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

Australian dollar

exposed to its pricenamed as a risk

The majority of our transactions are in U.S. dollars; however, some of our subsidiaries conduct business in foreign currencies, primarily the Canadian and Australian dollars, the Euro, and British Pound.Market risk (Item 7A)

Also named by ADBE, BEN, BF/B, BTU, CSGP, EEFT, EZPW, GPC and 13 more

Regulators

Defense Contract Audit Agency (DCAA)

subject tonamed as a risk

However, we can provide no assurance that the DCAA or other government audits will not result in material disallowances for incurred costs in the future.Risk factors (Item 1A)

Also named by ACN, BA, CACI, CDRE, FLR, HII, KTOS, LDOS and 6 more

U.S. Mine Safety and Health Administration (MSHA)

subject tonamed as a risk

The implementation of our safety processes and procedures are monitored by various agencies, including the U.S. Mine Safety and Health Administration (“MSHA”), and rating bureaus and may be evaluated by certain clients in cases in which safety requirements have been established in our contracts.Risk factors (Item 1A)

Also named by AESI, ARLP, BTU, CDE, GVA, HCC, HL, MLM and 4 more

Defense Contract Management Agency

subject to

In addition, services provided to the DoD and U.S. federal civil agencies are monitored by the Defense Contract Management Agency and audited by the DCAA.Business (Item 1)

Also named by CACI, FLR, HII, LDOS, OSK, TXT

Laws and programs

U.S. Foreign Corrupt Practices Act (FCPA)

subject tonamed as a risk

If we are found to be liable for anti-bribery law violations, we could suffer from criminal or civil penalties or other sanctions that could have a material adverse effect on our business.Risk factors (Item 1A)

Also named by A, ADBE, ADP, AIR, AJG, ALB, AME, AMZN and 112 more

EU General Data Protection Regulation (GDPR)

subject tonamed as a risk

For example, the European Union's General Data Protection Regulation ("EU GDPR"), the United Kingdom’s GDPR, and Brazil’s General Data Protection Law (Lei Geral de Proteção de Dados Pessoais, or “LGPD”) (Law No. 13,709/2018) impose strict requirements for processing personal data.Risk factors (Item 1A)

Also named by ACN, ADSK, AIG, ALK, AMG, ANET, APG, AXON and 61 more

One Big Beautiful Bill Act

subject tonamed as a risk

For example, on July 4, 2025, the U.S. government enacted legislation commonly referred to as the One Big Beautiful Bill Act, which includes changes to the taxation of business entities, and we are evaluating the future impact of certain of these changes on our financial statements.Risk factors (Item 1A)

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

International Traffic in Arms Regulations

subject tonamed as a risk

To the extent we export technical services, data and products outside of the United States, we are subject to U.S. and international laws and regulations governing international trade and exports, including but not limited to the International Traffic in Arms Regulations, the Export Administration Regulations and trade sanctions.Risk factors (Item 1A)

Also named by ACHR, ADI, AIR, ALSN, APH, AVAV, CDRE, CLS and 29 more

CERCLA (U.S. Superfund law)

subject tonamed as a risk

CERCLA and comparable state laws typically impose strict, joint and several liabilities without regard to whether a company knew of or caused the release of hazardous substances.Risk factors (Item 1A)

Also named by AA, AAOI, ALB, AN, APD, APLD, ATI, AWK and 27 more

Federal Acquisition Regulation (FAR)

subject tonamed as a risk

The services we provide to the U.S. federal government are subject to the FAR and other rules and regulations applicable to government contracts.Business (Item 1)

Also named by ACN, AIR, ALSN, ASTS, AXON, BWXT, CACI, CDRE and 12 more

U.K. Bribery Act

subject tonamed as a risk

The U.K. Bribery Act of 2010 prohibits both domestic and international bribery, as well as bribery across both private and public sectors.Risk factors (Item 1A)

Also named by EEFT, EMR, FSS, GXO, PH, ULTA, WDFC

Cost Accounting Standards (CAS)

subject tonamed as a risk

During the course of its audit, the U.S. federal government may disallow certain costs if it determines that we accounted for such costs in a manner inconsistent with CAS.Business (Item 1)

Also named by LMT

Federal Civil False Claims Act

subject tonamed as a risk

For example, as discussed elsewhere in this report, on January 14, 2019, the Civil Division of the United States Attorney’s Office ("USAO") filed complaints in intervention in three qui tam actions filed against our subsidiary, Tetra Tech EC, Inc. ("TtEC"), in the U.S. District Court for the Northern District of California ("NDCA").Risk factors (Item 1A)

Also named by GVA

U.S. Public Law 85-804

subject tonamed as a risk

Certain of our business operations are covered by U.S. Public Law 85-804, which provides for government indemnification against claims and damages arising out of unusually hazardous activities performed at the request of the government.Business (Item 1)

Also named by BWXT