BUKS — what changed in the latest 10-Q
A section-by-section comparison of BUKS'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 · 2026-09-11 vs the prior 10-Q · 2026-03-12
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +25 | −46 | ~17 | 28 |
| Market risk (Item 3) | No paragraph-level changes | 0 | 0 | 0 | 0 |
| Controls & procedures | Text added/removed | +3 | −4 | ~2 | 0 |
| Legal proceedings | Text added/removed | 0 | 0 | ~1 | 0 |
| Risk factors | No paragraph-level changes | 0 | 0 | 0 | 0 |
| Other information | Text added/removed | 0 | 0 | ~1 | 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 · 2026-09-11
The three months ended July 31, 2026 revenue increased 53% to $30.8 million compared to $20.1 million in the three months ended July 31, 2025. In the three months ended July 31, 2026 the Professional Services revenue was $9.0 million compared to $8.8 million in the three months ended July 31, 2025, …
Three Months Ended July 31, 2026Three Months Ended July 31, 2025
•Aerospace Products derives its revenue by designing, engineering, manufacturing, installing, servicing and repairing products for aircraft and military vehicles. Aerospace Products revenue increased by 92% to $21.7 million for the three months ended July 31, 2026 compared to $11.3 million for the t…
and Special Mission Pod kits for the King Air, among others. Additionally, Avcon completed and delivered two Special Mission Challenger 605/650 modification projects that included our recently approved STC for the under-fuselage radome/pod and rails for mounting of sensors. The timing, size and scop…
•Professional Services derives its revenue from professional management services in the gaming industry. Revenue from Professional Services increased 3% to $9.0 million for the three months ended July 31, 2026 compared to $8.8 million for the three months ended July 31, 2025. Sports wagering revenue…
Text removed vs the prior filing · source: 10-Q · 2026-03-12
•climate change, inclement weather and natural disasters; and
The nine months ended January 31, 2026 revenue increased 13% to $70.3 million compared to $62.4 million in the nine months ended January 31, 2025. In the nine months ended January 31, 2026 the Aerospace Products revenue was $42.4 million compared to $33.7 million in the nine months ended January 31,…
•Aerospace Products derives its revenue by designing, engineering, manufacturing, installing, servicing and repairing products for aircraft and military vehicles. Aerospace Products revenue increased by 26% to $42.4 million for the nine months ended January 31, 2026 compared to $33.7 million for the…
•Professional Services derives its revenue from professional management services in the gaming industry through Butler National Service Corporation (“BNSC”) and BHCMC, LLC (“BHCMC”). Revenue from Professional Services decreased 3% to $27.9 million for the nine months ended January 31, 2026 compared …
Costs and expenses related to Professional Services and Aerospace Products include the cost of engineering, labor, materials, equipment utilization, control systems, security and occupancy. Costs and expenses decreased 1% to $49.3 million in the nine months ended January 31, 2026 compared to $49.9 m…
Controls & procedures
Text added vs the prior filing · source: 10-Q · 2026-09-11
Evaluation of disclosure controls and procedures: Disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e)) under the Exchange Act are designed to ensure that information required to be disclosed in reports filed or submitted under the Exchange Act is recorded, processed, summ…
In connection with the preparation of this Form 10-Q, our Interim Chief Executive Officer and our Chief Financial Officer conducted an evaluation of the effectiveness of the design and operation of our disclosure controls and procedures as of July 31, 2026. Based on that evaluation, our Interim Chie…
Changes in Internal Control Over Financial Reporting: In our opinion there were no changes in the Company’s internal control over financial reporting during the quarter ended July 31, 2026 that have materially affected, or are reasonably likely to materially affect, its internal control over financi…
Text removed vs the prior filing · source: 10-Q · 2026-03-12
Internal Control-Integrated Framework, issued by the Committee of Sponsoring Organizations of the Treadway Commission (“COSO”).
Evaluation of disclosure controls and procedures: Disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e)) under the Exchange Act are designed to ensure that information required to be disclosed in reports filed or submitted under the Exchange Act is recorded, processed, summ…
In connection with the preparation of this Form 10-Q, our Chief Executive Officer and our Chief Financial Officer conducted an evaluation of the effectiveness of the design and operation of our disclosure controls and procedures as of January 31, 2026. Based on that evaluation, our Chief Executive O…
Changes in Internal Control Over Financial Reporting: In our opinion there were no changes in the Company's internal control over financial reporting during the quarter ended January 31, 2026 that have materially affected, or are reasonably likely to materially affect, its internal control over fina…
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