FRPT — what changed in the latest 10-Q
A section-by-section comparison of FRPT'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 · 2026-11-04 vs the prior 10-Q · 2026-08-05
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +16 | −18 | ~44 | 57 |
| Market risk (Item 3) | Text added/removed | +2 | −1 | ~1 | 4 |
| Controls & procedures | No paragraph-level changes | 0 | 0 | 0 | 3 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
| Other information | Text added/removed | 0 | 0 | ~1 | 1 |
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 · 2026-11-04
Income tax expense increased $82.7 million to $4.7 million for the three months ended September 30, 2026 as compared to an income tax benefit of $78.0 million in the prior year period, primarily attributable to the release of the valuation allowance in the prior year period, which resulted in a defe…
Net income decreased $72.0 million to net income of $29.7 million for the three months ended September 30, 2026 as compared to $101.7 million in the prior year period, primarily due to the $77.9 million deferred income tax benefit recognized in the prior year period, compared to income tax expense i…
Adjusted EBITDA was $64.5 million for the three months ended September 30, 2026 as compared to $54.6 million in the prior year period. The increase in Adjusted EBITDA was a result of increased Adjusted Gross Profit, partially offset by higher Adjusted SG&A expenses. See “—Non-GAAP Financial Measures…
Nine Months Ended September 30, 2026 Compared to Nine Months Ended September 30, 2025
Income tax expense increased $105.9 million to $28.0 million for the nine months ended September 30, 2026 as compared to an income tax benefit of $77.9 million in the prior year period, primarily attributable to the release of the valuation allowance in the prior year period, which resulted in a def…
Text removed vs the prior filing · source: 10-Q · 2026-08-05
The $4.5 million additional gain on equity investment for the three months ended June 30, 2026, represents certain post-closing adjustments related to the sale of the Company's non-controlling interest in a privately held company following the equity investment's acquisition by a third party, as dis…
Income tax expense increased $6.2 million to $6.1 million for the three months ended June 30, 2026 as compared to an income tax benefit of $0.1 million in the prior year period, primarily attributable to an increase in taxable income.
Net income increased $3.1 million to net income of $19.5 million for the three months ended June 30, 2026 as compared to $16.4 million in the prior year period, primarily due to the additional gain on equity investment and contributions from higher sales, partially offset by the increases in SG&A an…
Adjusted EBITDA was $52.2 million for the three months ended June 30, 2026 as compared to $44.4 million in the prior year period. The increase in Adjusted EBITDA was a result of increased Adjusted Gross Profit, partially offset by higher Adjusted SG&A expenses. See “—Non-GAAP Financial Measures” bel…
Six Months Ended June 30, 2026 Compared to Six Months Ended June 30, 2025
Market risk (Item 3)
Text added vs the prior filing · source: 10-Q · 2026-11-04
The Company may, from time to time, enter into forward exchange contracts to reduce the Company's exposure to foreign currency fluctuations of certain assets and liabilities denominated in foreign currencies. Historically, the foreign currency forward contracts have not been designated as hedges and…
their fair value are recognized on the Consolidated Statements of Income and Comprehensive Income in Interest and Other Income, net, and carried at their fair value in the Consolidated Balance Sheet with gains reported in prepaid expenses and other current assets and losses reported in accrued expen…
Text removed vs the prior filing · source: 10-Q · 2026-08-05
The Company may, from time to time, enter into forward exchange contracts to reduce the Company's exposure to foreign currency fluctuations of certain assets and liabilities denominated in foreign currencies. Historically, the foreign currency forward contracts have not been designated as hedges and…
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