EXPE — what changed in the latest 10-Q
A section-by-section comparison of EXPE'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 · 2026-05-08 vs the prior 10-Q · 2025-11-07
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +50 | −67 | ~26 | 25 |
| Market risk (Item 3) | Text added/removed | 0 | −1 | 0 | 0 |
| Controls & procedures | Text added/removed | 0 | 0 | ~1 | 1 |
| Legal proceedings | Text added/removed | +2 | −1 | ~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.
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 · 2026-05-08
Expedia Group is the global travel marketplace with one purpose: to help travelers explore the world, one journey at a time. We connect travelers, partners, and advertisers throughout our trusted brands, leading technology, and rich first-party data, delivering predictive, personalized experiences t…
The market opportunity for online travel is broad and highly competitive. Online penetration of travel expenditures is higher in the U.S. and Western European markets with online penetration rates in some emerging markets, such as Latin America and Eastern European regions, lagging behind those regi…
growth opportunity for our business, while also attracting many competitors to online travel. Technological developments in generative artificial intelligence (“AI”) tools are increasingly being used to create competing offerings, such as AI powered digital planning and assistance, further increasin…
In addition to the growth of online travel agencies, we have seen continued interest in the online travel industry from search engine companies such as Google, evidenced by continued product enhancements, and prioritizing its own AdWords and metasearch products such as Google Travel, Google Flights …
In addition, the increasing popularity of the “sharing economy,” accelerated by online penetration, has had a direct impact on the travel and lodging industry. Businesses such as Airbnb, Vrbo and Booking.com have emerged as the leaders, bringing incremental alternative accommodation inventory to the…
Text removed vs the prior filing · source: 10-Q · 2025-11-07
Expedia Group's mission is to power global travel for everyone, everywhere. We believe travel is a force for good. Travel is an essential human experience that strengthens connections, broadens horizons and bridges divides. We help reduce the barriers to travel, making it easier, more enjoyable, mor…
The market opportunity for online travel is broad and highly competitive. Online penetration of travel expenditures is higher in the U.S. and Western European markets with online penetration rates in some emerging markets, such as Latin America and Eastern European regions, lagging behind those regi…
Since our hotel and alternative accommodation supplier agreements are generally negotiated on a percentage basis, any increase or decrease in ADRs has an impact on the revenue we earn per room night. In the future, we could see macroeconomic
factors influence ADR trends, including rising living costs due to inflation and higher interest rates. Other factors that could lead to moderating ADRs include growth in hotel supply and the increase in alternative accommodation inventory.
In early 2024, U.S. domestic air capacity exceeded demand, putting pressure on domestic airfares, but this rationalized by September 2024 with domestic fares inflecting back to growth. Our air bookings grew in the third quarter of 2025 compared to the same period in 2024 but continued to lag the gro…
Market risk (Item 3)
Text removed vs the prior filing · source: 10-Q · 2025-11-07
There have been no material changes in our market risk during the three and nine months ended September 30, 2025. For additional information, see Item 7A, Quantitative and Qualitative Disclosures About Market Risk, in Part II of our Annual Report on Form 10-K for the year ended December 31, 2024.
Legal proceedings
Text added vs the prior filing · source: 10-Q · 2026-05-08
Helms Burton Litigation. On March 20, 2026, Plaintiffs in Echevarria v. Expedia Group, Inc. et al. (Echevarria II) filed an amended complaint. Trial in the Mata matter is currently scheduled for August 10, 2026.
Israeli Putative Class Action Lawsuit (Ze’ev). On April 17, 2026, the court issued an order partially certifying a plaintiff class.
Text removed vs the prior filing · source: 10-Q · 2025-11-07
Helms Burton Litigation. On September 5, 2025, the court in the Echevarria matter granted defendants’ motion for judgment as a matter of law and set aside the jury verdict and entered judgment in favor of defendants. On October 9, 2025, plaintiff filed a notice of appeal to the Eleventh Circuit Cour…
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