MORN — what changed in the latest 10-Q
A section-by-section comparison of MORN'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 · 2026-07-29
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +59 | −43 | ~36 | 60 |
| Market risk (Item 3) | Text added/removed | 0 | 0 | ~5 | 3 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 3 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Risk factors | Some risk factors updated | 0 | −16 | ~1 | 0 |
| Other information | Text added/removed | 0 | −3 | ~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 · 2026-10-28
Three months ended September 30,Nine months ended September 30,
Three months ended September 30,Nine months ended September 30,
Three months ended September 30,Nine months ended September 30,
International revenue comprised 28% of our consolidated revenue in both the third quarter and first nine months of 2026, comparable to the same periods in 2025. Approximately 57% of international revenue was generated in Continental Europe and the United Kingdom during both the third quarter and fir…
Three months ended September 30,Nine months ended September 30,
Text removed vs the prior filing · source: 10-Q · 2026-07-29
•failing to achieve the anticipated benefits of the CRSP acquisition;
Effect of foreign currency translations(3.5)— NMF(17.0)— NMF
International revenue comprised 28% of our consolidated revenue in both the second quarter and first six months of 2026, comparable to the same periods in 2025. Approximately 56% of international revenue was generated in Continental Europe and the United Kingdom during both the second quarter and fi…
Cost of revenue increased $8.7 million in the second quarter and $16.2 million in the first six months of 2026. An increase in certain technology infrastructure costs of $6.1 million and $9.0 million in the second quarter and first six months of 2026, respectively, was the largest contributor to the…
Sales and marketing expense decreased $1.6 million in the second quarter and increased $1.0 million in the first six months of 2026. The quarterly decrease was primarily driven by lower compensation expense and professional fees of $1.6 million and $1.4 million, respectively, partially offset by a $…
Risk factors
Text removed vs the prior filing · source: 10-Q · 2026-07-29
The adoption and use of AI technologies, whether incorporated into or accessing our products and tools or implemented by third parties, may present business, legal, compliance, and reputational risks.
We use, and may expand our use of, AI technologies across our products, internal tools, and third‑party SaaS platforms. While AI offers opportunities to improve efficiency and innovation, it also introduces risks. If we fail to keep pace with AI advancements, or if competitors adopt AI more effectiv…
The pace of adoption and use of AI technologies, including generative AI, in our products and processes and by our clients and end users may increase compliance obligations, regulatory scrutiny, litigation exposure, ethical concerns, and confidentiality or security risks. For example, AI systems may…
AI technologies may use or incorporate data from third-party sources, which may expose us to risks associated with data rights and protection and may also lead to the unintended consequences of using AI discussed above. Also licensing permissions, permitted-use restrictions, ownership of outputs or …
In addition, the implementation of AI technologies by competitors and disruptors presents risks to our business. The value of our products and services may be negatively affected by the increasing amount of information and external tools that are available online for free, or at low cost, that use A…
Other information
Text removed vs the prior filing · source: 10-Q · 2026-07-29
Sale of up to 200,000 shares of common stock pursuant to a Rule 10b5-1 trading arrangement
(1) Each listed trading plan is intended to satisfy the affirmative defense of Rule 10b5-1(c).
(2) The trading plan may also expire on such earlier date as all transactions under the trading plan are completed.
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