CPSS — what changed in the latest 10-Q
A section-by-section comparison of CPSS'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 · 2026-10-30 vs the prior 10-Q · 2026-08-07
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +16 | −18 | ~46 | 40 |
| Controls & procedures | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Risk factors | Text added/removed | 0 | 0 | ~1 | 7 |
| 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.
Not shown (absent or not faithfully extractable): Market risk (Item 3)
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 · 2026-10-30
Other income was $2.8 million for the three months ended September 30, 2026, compared to $1.3 million for the comparable period in 2025. This $1.6 million increase was primarily driven by the dealer recoveries collected for the three months ending September 30, 2026. These dealer recoveries were $1.…
Blended Cost of Funds on Recent Asset-Backed Term Securitizations
Interest expense on warehouse credit line debt increased by $3.5 million to $10.3 million for the three months ended September 30, 2026, compared to $6.7 million in the prior year period. The increase was primarily due to the higher utilization of our credit lines during the quarter compared to last…
Interest expense on subordinated renewable notes was $673,000 for the three months ended September 30, 2026. The average balance of the outstanding subordinated debt was $28.7 million for the three months September 30, 2026, compared to $29.0 million for the prior year period. The average yield of s…
In June 2021, March 2024, March 2025, March 2026, and again in August 2026, we completed a securitization of residual interests from other previously issued securitizations in the amount of $50 million, $50 million, $65 million, $50 million, and $80 million, respectively. Interest expense for these …
Text removed vs the prior filing · source: 10-Q · 2026-08-07
Interest Earning Assets Balance Interest Yield Balance Interest Yield
Other income was $3.3 million for the three months ended June 30, 2026, compared to $1.4 million for the comparable period in 2025. This $1.9 million increase was primarily driven by the dealer recoveries collected for the three months ending June 30, 2026. These dealer recoveries were $1.8 million …
Interest expense on warehouse credit line debt increased by $617,000 to $8.8 million for the three months ended June 30, 2026, compared to $8.2 million in the prior year period. The increase was primarily due to the higher utilization of our credit lines during the quarter compared to last year. The…
Interest expense on subordinated renewable notes was $668,000 for the three months ended June 30, 2026. The average balance of the outstanding subordinated debt was $28.1 million for the three months June 30, 2026, compared to $28.0 million for the prior year period. The average yield of subordinate…
In June 2021, March 2024, March 2025, and again in March 2026 we completed a securitization of residual interests from other previously issued securitizations in the amount of $50 million, $50 million, $65 million, and $50 million, respectively. Interest expense for these residual interest financing…
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