EXLS — what changed in the latest 10-Q
A section-by-section comparison of EXLS'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 · 2026-10-27 vs the prior 10-Q · 2026-07-28
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +54 | −58 | ~24 | 45 |
| Market risk (Item 3) | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Controls & procedures | Text added/removed | +2 | −2 | ~1 | 0 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Risk factors | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Other information | Text added/removed | +4 | 0 | ~1 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
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 · 2026-10-27
On July 31, 2026, we completed the acquisition of I Merit Inc., a Delaware Corporation (“iMerit”), a recognized leader in AI model training, evaluation and reinforcement learning, through our wholly owned subsidiary Clairvoyant AI, Inc. pursuant to a securities purchase agreement dated June 22, 2026…
For the three months ended September 30, 2026 and 2025, our total revenues from our top ten clients accounted for 33.3% and 34.5% of our total revenues, respectively. For the nine months ended September 30, 2026 and 2025, our total revenues from our top ten clients accounted for 34.0% and 33.8% of o…
There have been no significant changes in our critical accounting policies and estimates during the nine months ended September 30, 2026, as compared to the critical accounting policies and estimates referred in Part II, Item 7, “Management’s Discussion and Analysis of Financial Condition and Result…
The following table summarizes our results of operations for the three months ended September 30, 2026 and 2025:
Three months ended September 30, 2026Percentage of Revenues, netThree months ended September 30, 2025Percentage of Revenues, netDollar changePercentage change
Text removed vs the prior filing · source: 10-Q · 2026-07-28
On June 22, 2026, we, through our wholly owned subsidiary Clairvoyant AI, Inc. entered into a securities purchase agreement (the “Purchase Agreement”) to acquire 100% of the equity securities of I Merit Inc., a Delaware Corporation (“iMerit”), in exchange for upfront cash consideration of $170 milli…
For the three months ended June 30, 2026 and 2025, our total revenues from our top ten clients accounted for 34.1% and 33.5% of our total revenues, respectively. For the six months ended June 30, 2026 and 2025, our total revenues from our top ten clients accounted for 34.3% and 33.6% of our total re…
pricing models with some of our current clients and are seeking to move certain other clients from a full-time-equivalent pricing model to a transaction-based or other alternative pricing model. These alternative pricing models place the focus on operating efficiency in order to maintain or improve …
There have been no significant changes in our critical accounting policies and estimates during the six months ended June 30, 2026, as compared to the critical accounting policies and estimates referred in Part II, Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of O…
The following table summarizes our results of operations for the three months ended June 30, 2026 and 2025:
Controls & procedures
Text added vs the prior filing · source: 10-Q · 2026-10-27
During the three months ended September 30, 2026, there were no changes in our internal control over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act) that have materially affected, or are reasonably likely to materially affect, our internal control over financ…
In making its assessment of the changes in internal control over financial reporting during the three months ended September 30, 2026, our management excluded an evaluation of iMerit, including the disclosure controls and procedures of iMerit that are subsumed by internal control over financial repo…
Text removed vs the prior filing · source: 10-Q · 2026-07-28
During the three months ended June 30, 2026, we completed the implementation of an upgraded enterprise resource planning (“ERP”) system. In connection with the implementation, we modified certain business processes and related internal controls over financial reporting, as appropriate. We do not bel…
Except as described above, there were no changes in our internal control over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act) during the three months ended June 30, 2026 that have materially affected, or are reasonably likely to materially affect, our interna…
Other information
Text added vs the prior filing · source: 10-Q · 2026-10-27
Aggregate Number of Shares of Common Stock to be Sold Pursuant to Trading Arrangement
Executive Vice President, General Counsel and Corporate Secretary
(1) Except as indicated by footnote, each trading arrangement marked as a “Rule 10b5-1 Trading Arrangement” is intended to satisfy the affirmative defense of Rule 10b5-1(c), as amended (the “Rule”).
(2) Except as indicated by footnote, each trading arrangement permits transactions through and including the earlier to occur of (a) the completion of all sales or (b) the date listed in the table. Each trading arrangement marked as a “Rule 10b5-1 Trading Arrangement” only permits transactions upon …
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