CWGL — what changed in the latest 10-Q
A section-by-section comparison of CWGL'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 · 2026-08-06 vs the prior 10-Q · 2026-05-07
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +21 | −6 | ~27 | 13 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 0 |
| Legal proceedings | Text added/removed | 0 | 0 | ~1 | 0 |
| Risk factors | Text added/removed | 0 | 0 | ~1 | 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.
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 · 2026-08-06
wines that age longer than one year, winemaking and processing costs continue to be incurred and capitalized to the cost of wine, which can range from three to 36 months. Reductions to the carrying value of inventories are also included in cost of sales.
distributor filed for voluntary chapter 11 bankruptcy to pursue potential sale transactions and implement an orderly wind down of its remaining operations. Certain joint ventures affiliated with this distributor in key markets are not included in the chapter 11 filing. As of June 30, 2026, amounts d…
Direct to Consumer net sales decreased $0.3 million, or 5%, in the current quarter as compared to the same quarter in 2025. The overall decrease was driven by reduced memberships within the wine clubs and lower average spend per guest through the tasting rooms. Performance within these channels rema…
Other net sales, which include bulk wine and grape sales, custom winemaking services, event fees, tasting fees and non-wine retail sales in the current quarter were comparable to the same quarter in 2025.
The Company’s effective tax rates for the three months ended June 30, 2026 and 2025 were 24.9% and 45.3%, respectively. The decrease in the Company’s effective tax rate is primarily attributable to an immaterial change in the estimated 2025 annual effective income tax rate having an outsized adjusti…
Text removed vs the prior filing · source: 10-Q · 2026-05-07
wine, which can range from three to 36 months. Reductions to the carrying value of inventories are also included in cost of sales.
the Company’s reserve policy. The Company has not experienced historical loss with this distributor. Despite the Company’s ongoing efforts to mitigate potential losses from this distributor, the Company cannot predict the outcome of the distributor's market negotiations and a portion of the Company’…
Direct to Consumer net sales decreased $0.4 million, or 7%, in the current quarter as compared to the same quarter in 2025. The overall decrease was driven by lower tasting room visitations and club memberships that remained challenged with declining market conditions for both consumption and discre…
Other net sales, which include bulk wine and grape sales, custom winemaking services, event fees, tasting fees and non-wine retail sales, decreased $0.1 million, or 23%, in the current quarter as compared to the same quarter in 2025. The decrease was primarily driven by lower bulk wine and grape sal…
The Company’s effective tax rates for the three months ended March 31, 2026 and 2025 were 26.9% and 27.5%, respectively. The difference between the effective income tax rates was primarily attributable to state income taxes and other permanent items.
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