CVSA — what changed in the latest 10-Q
A section-by-section comparison of CVSA'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 · 2026-01-28
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +55 | −56 | ~28 | 26 |
| Market risk (Item 3) | Text added/removed | 0 | 0 | ~1 | 0 |
| Controls & procedures | Text added/removed | +2 | −3 | 0 | 0 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
| Other information | Text added/removed | +1 | −6 | 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
●Covista revenue increased 4.5%, or $21.0 million, to $487.0 million in the third quarter of fiscal year 2026 compared to the prior year period driven by increased revenue across all of our segments. Walden revenue for the third quarter of fiscal year 2026 was impacted by a shift of one academic wee…
●Net income decreased 31.6%, or $19.2 million, to $41.6 million in the third quarter of fiscal year 2026 compared to the prior year period. While consolidated revenue increased in the third quarter of fiscal year 2026 compared to the prior year period, Walden revenue for the third quarter of fiscal …
●Adjusted net income decreased 5.8%, or $4.2 million, to $69.0 million in the third quarter of fiscal year 2026 compared to the prior year period. While consolidated revenue increased in the third quarter of fiscal year 2026 compared to the prior year period, Walden revenue for the third quarter of …
●For the January 2026 semester, total student enrollment at the medical and veterinary schools increased 4.1% compared to the same semester last year.
●On March 2, 2026, we entered into Amendment No. 5 to Credit Agreement and Incremental Assumption Agreement (the “Term Loan B Amendment”) to incur new term loans under Term Loan B in an aggregate principal amount of $510.0 million with a maturity date of March 2, 2033. In addition, on March 2, 2026,…
Text removed vs the prior filing · source: 10-Q · 2026-01-28
●Adtalem revenue increased 12.4%, or $55.7 million, to $503.4 million in the second quarter of fiscal year 2026 compared to the prior year period driven by increased revenue across all of our segments.
●Net income increased 0.7%, or $0.5 million, to $76.4 million in the second quarter of fiscal year 2026 compared to the prior year period. This increase was primarily driven by an increase in revenue and a decrease in interest expense, partially offset by increases in strategic advisory costs, labor…
●Adjusted net income increased 26.7%, or $18.5 million, to $87.9 million in the second quarter of fiscal year 2026 compared to the prior year period. This increase was primarily driven by an increase in revenue and a decrease in interest expense, partially offset by increases in labor and other cost…
●Adtalem repurchased a total of 1,727,565 shares of its common stock under its share repurchase programs at an average cost of $95.45 per share during the second quarter of fiscal year 2026. The timing and amount of any future repurchases will be determined based on an evaluation of market condition…
In July 2025, the U.S. Congress passed the One Big Beautiful Bill Act (“OBBBA”). The U.S. Department of Education (“ED”) has commenced negotiated rulemaking regarding the education-related provisions of OBBBA but has yet to issue necessary enabling regulations and guidance with respect to these prov…
Controls & procedures
Text added vs the prior filing · source: 10-Q · 2026-05-07
Based on an evaluation of our disclosure controls and procedures (as such term is defined in Exchange Act Rule 13a-15(e)) that was conducted under the supervision and with the participation of Covista’s management, including our Chief Executive Officer and Chief Financial Officer, our Chief Executiv…
There were no changes during the third quarter of fiscal year 2026 in our internal control over financial reporting (as such term is defined in Rule 13a-15(f) under the Exchange Act) that have materially affected or are reasonably likely to materially affect our internal control over financial repor…
Text removed vs the prior filing · source: 10-Q · 2026-01-28
Based on an evaluation of our disclosure controls and procedures (as such term is defined in Exchange Act Rule 13a-15(e)) that was conducted under the supervision and with the participation of Adtalem’s management, including our Chief
Executive Officer and Chief Financial Officer, our Chief Executive Officer and Chief Financial Officer concluded that Adtalem’s disclosure controls and procedures were effective as of December 31, 2025.
There were no changes during the second quarter of fiscal year 2026 in our internal control over financial reporting (as such term is defined in Rule 13a-15(f) under the Exchange Act) that have materially affected or are reasonably likely to materially affect our internal control over financial repo…
Other information
Text added vs the prior filing · source: 10-Q · 2026-05-07
On March 9, 2026, Mr. Maurice Herrera, Covista’s former Senior Vice President and Chief Marketing Officer, adopted a 10b5-1 Plan. Mr. Herrera’s 10b5-1 Plan is intended to satisfy the affirmative defense of Rule 10b5-1(c). Trades under Mr. Herrera’s 10b5-1 Plan are subject to the required “cooling-of…
Text removed vs the prior filing · source: 10-Q · 2026-01-28
On December 10, 2025, Mr. Stephen W. Beard, Adtalem’s Chairman and Chief Executive Officer, adopted a 10b5-1 Preset Diversification Program (the “10b5-1 Plan”). Mr. Beard’s 10b5-1 Plan is intended to satisfy the affirmative defense
of Rule 10b5-1(c). Trades under Mr. Beard’s 10b5-1 Plan are subject to the required “cooling-off period” with the estimated first sale date under Mr. Beard’s 10b5-1 Plan to occur not before March 16, 2026. Mr. Beard’s 10b5-1 Plan expires on November 30, 2026. The 10b5-1 Plan governs Mr. Beard’s sale…
On December 11, 2025, Mr. Douglas Beck, Adtalem’s Senior Vice President, General Counsel, Corporate Secretary and Institutional Support Services, adopted a 10b5-1 Plan. Mr. Beck’s 10b5-1 Plan is intended to satisfy the affirmative defense of Rule 10b5-1(c). Trades under Mr. Beck’s 10b5-1 Plan are su…
On December 12, 2025, Mr. Robert Phelan, Adtalem’s Senior Vice President and Chief Financial Officer, adopted a 10b5-1 Plan. Mr. Phelan’s 10b5-1 Plan is intended to satisfy the affirmative defense of Rule 10b5-1(c). Trades under Mr. Phelan’s 10b5-1 Plan are subject to the required “cooling-off perio…
On December 15, 2025, Dr. Karen Cox, President, Chamberlain University, adopted a 10b5-1 Plan. Dr. Cox’s 10b5-1 Plan is intended to satisfy the affirmative defense of Rule 10b5-1(c). Trades under Dr. Cox’s 10b5-1 Plan are subject to the required “cooling-off period” with the estimated first sale dat…
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