FLXS — what changed in the latest 10-Q
A section-by-section comparison of FLXS'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 · 2026-10-28 vs the prior 10-Q · 2026-04-22
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +13 | −22 | ~8 | 2 |
| Market risk (Item 3) | Text added/removed | +2 | −1 | ~2 | 1 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 4 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
| 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): 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 · 2026-10-28
Net sales were $114.0 million for the quarter ended September 30, 2026, compared to net sales of $110.4 million in the prior year quarter, an increase of 3.2%. The increase was driven by growth in soft seating products of $5.5 million offset by lower sales of homestyles ready-to-assemble product of …
Income tax expense was $1.5 million, or an effective rate of 21.8% for the quarter ended September 30, 2026, compared to income tax expense of $2.1 million, or an effective rate of 21.9% for the quarter ended September 30, 2025. For the quarter ended September 30, 2026, the effective tax rate differ…
Net income was $5.4 million, or $1.24 per diluted share for the quarter ended September 30, 2026, compared to net income of $7.3 million, or $1.31 per diluted share in the prior year quarter.
Working capital (current assets less current liabilities) on September 30, 2026, was $80.5 million compared to $82.7 million on June 30, 2026. The $2.2 million decrease in working capital was primarily due to a decrease in cash of $12.3 million and trade receivables of $1.1 million, partially offset…
For the three months ended September 30, 2026, net cash used in operating activities was ($1.5) million. Net income of $5.4 million was adjusted for non-cash items including non-cash lease expense of $1.6 million, stock-based compensation of $1.1 million and depreciation expense of $1.1 million. The…
Text removed vs the prior filing · source: 10-Q · 2026-04-22
Net sales were $115.1 million for the quarter ended March 31, 2026, compared to net sales of $114.0 million in the prior year quarter, an increase of 1.0%. The increase was driven by higher pricing from tariff surcharges, offset by lower unit volume, particularly in our made-to-order, ready-to-assem…
Income tax expense was $2.1 million, or an effective rate of 24.9% for the quarter ended March 31, 2026, compared to income tax benefit of ($1.2) million, or an effective rate of 24.5% for the quarter ended March 31, 2025. For the quarter ended March 31, 2026, the effective tax rate differs from the…
Net income was $6.4 million, or $1.14 per diluted share for the quarter ended March 31, 2026, compared to net loss of ($3.7) million, or $(0.71) per diluted share in the prior year quarter. During the quarter ended March 31, 2025, the Company recorded a right-of-use asset impairment on the manufactu…
Results of Operations for the nine months ended March 31, 2026 and 2025
Net sales were $343.8 million for the nine months ended March 31, 2026, compared to net sales of $326.5 million in the prior-year nine-month period, an increase of 5.3%. The increase in sales of $17.3 million was driven by higher unit volume of sourced soft seating products and pricing from tariff s…
Market risk (Item 3)
Text added vs the prior filing · source: 10-Q · 2026-10-28
Inflation Risk – We are exposed to market risks from price inflation in raw materials, production costs, importation costs and domestic transportation costs. The cost to import furniture products and raw materials can be adversely affected by political issues in the countries
where suppliers are located, as well as disruptions associated with shipping distances and negotiations with port employees. Other risks related to the cost of furniture product importation include government imposition of regulations and/or quotas; duties, taxes or tariffs on imports; and significa…
Text removed vs the prior filing · source: 10-Q · 2026-04-22
Inflation Risk – We are exposed to market risks from price inflation in raw materials, production costs, importation costs and domestic transportation costs. The cost to import furniture products and raw materials can be adversely affected by political issues in the countries where suppliers are loc…
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