FSTJ — what changed in the latest 10-Q
A section-by-section comparison of FSTJ'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 · 2026-05-15 vs the prior 10-Q · 2025-11-17
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +8 | −14 | ~3 | 1 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 1 |
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), Legal proceedings, Risk factors, Other information
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 · 2026-05-15
For the three months ended March 31, 2026, our revenue was $4,801,000, as compared to $4,025,000, for the three months ended March 31, 2025. The increase in revenue of 19% was the result of continued revenue growth. We expect revenues to continue to increase on a year-over-year basis.
Cost of revenues for the three months ended March 31, 2026, and 2025, were $1,778,000 and $1,752,000, respectively, resulting in gross margins of 63% and 56%, respectively. The primary components of cost of revenues include freight and material processing, which comprise the majority of the costs.
For the three months ended March 31, 2026, operating expenses were $2,696,000 as compared to $2,218,000 for the same period in 2025, an increase of $478,000 or 21%. General and administrative expenses increased by $154,000 from $559,000 to $713,000, payroll expenses increased $225,000 from $1,115,00…
As a result of the above, our income from operations for the three months ended March 31, 2026, was $328,000 as compared to $54,000 for the prior year period.
Other income and expenses included $33,000 in interest expenses during the three months ended March 31, 2026, compared to $26,000 in the prior year. Additionally, the prior year had other income totaling $347,000 related to a non-recurring employee retention credit. We expect interest expenses to in…
Text removed vs the prior filing · source: 10-Q · 2025-11-17
Comparison of Three Months Ended September 30, 2025 and 2024
For the three months ended September 30, 2025, our revenue was $5,470,000, as compared to $4,582,000, for the three months ended September 30, 2024. The increase in revenue of 19% was the result of continued revenue growth. We expect revenues to continue to increase on a year-over-year basis.
Cost of revenues for the three months ended September 30, 2025, and 2024 were $2,534,000 and $1,958,000, respectively, resulting in gross margins of 54% and 57%, respectively. The primary components of cost of revenues include freight and material processing, which comprise the majority of the costs…
For the three months ended September 30, 2025, operating expenses were $2,689,000 as compared to $2,219,000 for the same period in 2024, an increase of $470,000 or 21%. General and administrative expenses increased by $65,000 from $524,000 to $589,000, payroll expenses increased $147,000 from $1,217…
As a result of the above, our income from operations for the three months ended September 30, 2025, was $248,000 as compared to $405,000 for the prior year period.
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