CRAI — what changed in the latest 10-Q
A section-by-section comparison of CRAI'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 · 2025-10-30
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +25 | −36 | ~7 | 18 |
| Market risk (Item 3) | Text added/removed | 0 | 0 | ~1 | 0 |
| Controls & procedures | Text added/removed | 0 | −1 | ~2 | 3 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
| Other information | Text added/removed | +7 | −1 | 0 | 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): Legal proceedings
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
On January 4, 2026, CRA adopted Accounting Standards Update ("ASU") No. 2025-06, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software (“ASU 2025-06”), which modernized the accounting for internal-use software. ASU 2…
Fiscal Quarter Ended April 4, 2026, Compared to the Fiscal Quarter Ended March 29, 2025
Revenues. Revenues increased by $19.1 million, or 10.5%, to $201.0 million for the first quarter of fiscal 2026 from $181.9 million for the first quarter of fiscal 2025. Utilization increased to 77% for the first quarter of fiscal 2026 from 76% for the first quarter of fiscal 2025, while consultant …
Overall, revenues outside of the U.S. represented approximately 20% and 18% of net revenues for each of the first quarters of fiscal 2026 and fiscal 2025, respectively. Revenues derived from fixed-price projects increased to 18% of net revenues for the first quarter of fiscal 2026 compared to 17% of…
Costs of Services (exclusive of depreciation and amortization). Costs of services (exclusive of depreciation and amortization) increased by $24.6 million, or 20.4%, to $145.0 million for the first quarter of fiscal 2026 from $120.4 million for the first quarter of fiscal 2025. The increase in costs …
Text removed vs the prior filing · source: 10-Q · 2025-10-30
There are no recent accounting standards that impact the unaudited condensed consolidated financial statements.
Selling, general and administrative expenses18.1 18.6 18.3 18.4
Fiscal Quarter Ended September 27, 2025, Compared to the Fiscal Quarter Ended September 28, 2024
Revenues. Revenues increased by $18.2 million, or 10.8%, to $185.9 million for the third quarter of fiscal 2025 from $167.7 million for the third quarter of fiscal 2024. Utilization increased to 77% for the third quarter of fiscal 2025 from 76% for the third quarter of fiscal 2024, while consultant …
Overall, revenues outside of the U.S. represented approximately 21% and 19% of net revenues for each of the third quarters of fiscal 2025 and fiscal 2024, respectively. Revenues derived from fixed-price projects decreased to 17% of net revenues for the third quarter of fiscal 2025 compared to 18% of…
Controls & procedures
Text removed vs the prior filing · source: 10-Q · 2025-10-30
identified in connection with the above evaluation that occurred during the third quarter of fiscal 2025 that have materially affected or are reasonably likely to materially affect our internal control over financial reporting.
Other information
Text added vs the prior filing · source: 10-Q · 2026-05-07
Securities Trading Plans of Directors and Executive Officers
During the fiscal quarter ended April 4, 2026, no director or officer of the Company adopted or terminated a “Rule 10b5-1 trading arrangement” or a “non-Rule 10b5-1 trading arrangement” (in each case, as defined in Item 408 of Regulation S-K).
On May 4, 2026, the Company and its subsidiaries CRA International (UK) Limited (the “UK Borrower”) and CRA International Limited (the “Canadian Borrower”, and, together with the UK Borrower, the “Designated Borrowers”; the Designated Borrowers, together with the Company, the “Borrowers”) entered in…
Pursuant to the Incremental Amendment, the aggregate principal amount of the revolving credit facility commitments extended to the Borrowers under the Credit Agreement was increased from $250 million to $300 million (subject to the existing
sublimits with respect to the maximum amount of the revolving credit loans to be made to the Designated Borrowers and certain other matters).
Text removed vs the prior filing · source: 10-Q · 2025-10-30
During the fiscal quarter ended September 27, 2025, no director or officer of the Company adopted or terminated a “Rule 10b5-1 trading arrangement” or a “non-Rule 10b5-1 trading arrangement” (in each case, as defined in Item 408 of Regulation S-K).
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