CSBR — what changed in the latest 10-K
A section-by-section comparison of CSBR'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-K · 2026-07-27 vs the prior 10-K · 2025-07-23
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| Business | Text added/removed | 0 | 0 | ~8 | 32 |
| Risk factors | Text added/removed | 0 | −1 | ~8 | 85 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 1 |
| MD&A | Text added/removed | +19 | −24 | ~6 | 13 |
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 7A)
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
Risk factors
Text removed vs the prior filing · source: 10-K · 2025-07-23
of operations, there can be no assurances that further unforeseen events will not have a material adverse effect on us or our operations in the future.
MD&A
Text added vs the prior filing · source: 10-K · 2026-07-27
•Pharmacology services revenue increased for the year ended April 30, 2026 compared to the prior year. The increase was primarily driven by improved conversion of previously booked studies into revenue, including studies that had been expected to convert in the prior fiscal year but were delayed int…
•TOS data license revenue decreased for the year ended April 30, 2026 compared to the prior year. Fiscal 2025 revenue primarily reflected a significant data license transaction with a single customer, while fiscal 2026 revenue was generated from multiple, smaller customer contracts. Although fiscal …
•Other TOS revenue includes additional clinical services provided to the Company's pharmaceutical and biotechnology customers specifically for flow cytometry and SaaS provided via Lumin. Other TOS revenue decreased for the year ended April 30, 2026 compared to the prior year, primarily due to lower …
Cost of oncology revenue was $30.9 million and $28.4 million for the years ended April 30, 2026 and 2025, respectively, an increase of $2.5 million or 8.8%. The increase was primarily driven by higher outsourced laboratory costs associated with the expansion of our radiopharmacology services. During…
Research and development expense was $9.1 million and $6.8 million for the years ended April 30, 2026 and 2025, respectively, an increase of $2.3 million or 33.1%.
Text removed vs the prior filing · source: 10-K · 2025-07-23
biomarker hypotheses, reveal potential mechanisms of therapeutic resistance, and guide the direction of additional preclinical evaluations.
•The increase for the year ending April 30, 2025 was the result of a stronger bookings to revenue conversion rate. Bookings, which represent the total value of signed statements of work, convert to revenue over time as the Company fulfills its contractual performance obligations. Operational improve…
•Revenue for the year ending April 30, 2025 resulted from the sale of data licenses. No such revenues occurred for the year ending April 30, 2024.
•Other TOS Revenue includes additional clinical services provided to the Company's pharmaceutical and biotechnology customers, specifically flow cytometry and SaaS provided via Lumin.
•Our flow cytometry services revenue increased approximately $787,000 for the year ending April 30, 2025 due to stronger bookings to revenue conversion rates.
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