BBSI — what changed in the latest 10-Q
A section-by-section comparison of BBSI's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-05-07 vs the prior 10-Q · 2025-11-06
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +9 | −16 | ~16 | 13 |
| Market risk (Item 3) | Text added/removed | 0 | 0 | ~1 | 0 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 3 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Not shown (absent or not faithfully extractable): Legal proceedings, Other information
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-05-07
During the first quarter of 2026, the Company recorded tax-effected charges of $11.6 million related to the disallowance of certain wage-based tax credits claimed in prior years. This charge was recorded within provision for (benefit from) income taxes on our condensed consolidated statements of ope…
The reconciliation of net loss and diluted loss per share to non-GAAP net loss and non-GAAP diluted loss per share for the three months ended March 31, 2026 is shown in the table below (in thousands, except per share amounts):
We report PEO revenues net of direct payroll costs because we are not the primary obligor for wage payments to our clients’ employees. However, management believes that gross billings and wages are useful in understanding the volume of our business activity and serve as an important performance metr…
Payroll taxes for the first quarter of 2026 totaled $174.1 million or 56.7% of revenue compared to $169.4 million or 57.9% of revenue for the first quarter of 2025. The decrease in payroll taxes as a percentage of revenue in the first quarter of 2026 was primarily due to a higher mix of revenue attr…
Benefit costs for the first quarter of 2026 totaled $27.4 million or 8.9% of revenue compared to $17.6 million or 6.0% of revenue for the first quarter of 2025. The increase in benefit costs as a percentage of revenue was primarily due to expanded adoption of our PEO client benefit programs, as well…
Text removed vs the prior filing · source: 10-Q · 2025-11-06
We report PEO revenues net of direct payroll costs because we are not the primary obligor for wage payments to our clients’ employees. However, management believes that gross billings and wages are useful in understanding the volume of our business activity and serve as an important performance metr…
Payroll taxes and benefits for the third quarter of 2025 totaled $176.3 million or 55.3% of revenue compared to $154.1 million or 52.4% of revenue for the third quarter of 2024. The increase in payroll taxes and benefits expense as a percentage of revenue was primarily due to higher average payroll …
Workers’ compensation expense for the third quarter of 2025 totaled $51.3 million or 16.1% of revenue compared to $49.5 million or 16.8% of revenue for the third quarter of 2024. The decrease in workers’ compensation expense as a percentage of revenue was primarily due to lower workers' compensation…
Selling, general and administrative (“SG&A”) expenses for the third quarter of 2025 totaled $49.9 million or 15.6% of revenue compared to $49.1 million or 16.7% of revenue for the third quarter of 2024. The increase of $0.8 million in SG&A expense was primarily attributable to increased employee-rel…
Other income, net for the third quarter of 2025 totaled $2.0 million compared to other income, net of $2.3 million for the third quarter of 2024. The decrease was primarily attributable to a decrease in investment income in the third quarter of 2025.
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice