BSY — what changed in the latest 10-Q
A section-by-section comparison of BSY'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 · 2025-11-05
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +37 | −56 | ~22 | 34 |
| Market risk (Item 3) | Text added/removed | 0 | 0 | ~1 | 0 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 3 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
| Other information | Text added/removed | 0 | 0 | ~3 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
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
•Total revenues were $424,181 for the three months ended March 31, 2026, up 14.5% or 11.9% on a constant currency basis(1) compared to the three months ended March 31, 2025;
•Subscriptions revenues were $392,484 for the three months ended March 31, 2026, up 14.7% or 12.2% on a constant currency basis(1) compared to the three months ended March 31, 2025;
•Last twelve-month recurring revenues dollar-based net retention rate(2) was 109% as of March 31, 2026, compared to 110% as of March 31, 2025;
•Cash flows from operating activities were $193,408 for the three months ended March 31, 2026, compared to $219,415 for the three months ended March 31, 2025.
(1)Constant currency and AOI less Operating SBC are non‑GAAP financial measures. Refer to the “Non‑GAAP Financial Measures” section for additional information, including our definitions and our uses of constant currency and AOI less Operating SBC.
Text removed vs the prior filing · source: 10-Q · 2025-11-05
•Total revenues were $375,549 for the three months ended September 30, 2025, up 12.0% or 10.6% on a constant currency basis(1) compared to the three months ended September 30, 2024. Total revenues were $1,110,197 for the nine months ended September 30, 2025, up 10.7% or 10.3% on a constant currency …
•Subscriptions revenues were $344,293 for the three months ended September 30, 2025, up 13.5% or 12.1% on a constant currency basis(1) compared to the three months ended September 30, 2024. Subscriptions revenues were $1,020,063 for the nine months ended September 30, 2025, up 12.4% or 12.0% on a co…
•Last twelve-month recurring revenues dollar-based net retention rate(2) was 109% as of September 30, 2025, consistent with the same period in the prior year;
•Operating income was $84,497 for the three months ended September 30, 2025, compared to $68,630 for the three months ended September 30, 2024. Operating income was $284,111 for the nine months ended September 30, 2025, compared to $240,738 for the nine months ended September 30, 2024;
•Cash flows from operations was $396,876 for the nine months ended September 30, 2025, compared to $353,660 for the nine months ended September 30, 2024.
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