TBI TrueBlue, Inc.

Risks

• COVID-19, the governmental reaction to COVID-19, and the resulting adverse economic conditions have negatively impacted our business and will have an even greater material adverse impact on our business, financial condition, liquidity, and results of operations.
• Demand for our workforce solutions is significantly affected by fluctuations in general economic conditions.
• We may not achieve the intended effects of our business strategy which could negatively impact our results.
• Our workforce solutions are subject to extensive government regulation and the imposition of additional regulations, which could materially harm our future earnings.
• We may experience employment related claims, commercial indemnification claims and other legal proceedings that could materially harm our business.
• We are dependent on obtaining workers’ compensation and other insurance coverage at commercially reasonable terms. Unexpected changes in claim trends on our workers’ compensation may negatively impact our financial condition.
• We operate in a highly competitive industry and may be unable to retain clients or market share.
• Advances in technology may disrupt the labor and recruiting markets and we must constantly improve our technology to meet the expectations of clients, candidates and employees.
• Our business and operations have undergone, and will continue to undergo, significant change as we seek to improve our operational and support effectiveness, which if not managed could have an adverse outcome on our business and results of operations.
• We are at risk of damage to our brands and reputation, which is important to our success.
• The expansion of social media platforms creates new risks and challenges that could cause damage to our brand and reputation.
• Our level of debt and restrictions in our credit agreement could negatively affect our operations and limit our liquidity and our ability to react to changes in the economy.
• The loss of, continued reduction or substantial decline in revenue from larger clients could have a material adverse effect on our revenues, profitability and liquidity.
• Failure of our information technology systems could adversely affect our operating results.
• Cybersecurity vulnerabilities and incidents could lead to the improper disclosure of information about our clients, candidates and employees.
• Data security, data privacy and data protection laws and other technology regulations increase our costs.
• Improper disclosure of, or access to our clients’ information could materially harm our business.
• Failure to protect our intellectual property could harm our business, and we face the risk that our services or products may infringe upon the intellectual property rights of others.
• We may be unable to attract sufficient qualified contingent workers and candidates to meet the needs of our clients.
• Our facilities, operations and information technology systems are vulnerable to damage and interruption.
• Acquisitions may have an adverse effect on our business.
• New business initiatives may have an adverse effect on our business.
• Our results of operations could materially deteriorate if we fail to attract, develop and retain qualified employees.
• We may have additional tax liabilities that exceed our estimates.
• The price of our common stock may fluctuate significantly, which may result in losses for investors.
• We cannot guarantee that we will repurchase our common stock pursuant to our share repurchase program or that our share repurchase program will enhance long-term shareholder value.
• Failure to maintain adequate financial and management processes and controls could lead to errors in our financial reporting.
• Outsourcing certain aspects of our business could result in disruption and increased costs.
• We face risks in operating internationally.