NRDS — what changed in the latest 10-Q
A section-by-section comparison of NRDS'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 · 2026-08-06 vs the prior 10-Q · 2026-05-06
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +9 | −7 | ~26 | 26 |
| Market risk (Item 3) | Text added/removed | 0 | 0 | ~1 | 1 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 0 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Risk factors | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Other information | Text added/removed | 0 | −1 | ~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 · 2026-08-06
Income from operations decreased $3.7 million, or 35%, for the three months ended June 30, 2026, and increased $22.8 million, or 200%, for the six months ended June 30, 2026, compared to the three and six months ended June 30, 2025, as revenue increased $10.4 million and $23.4 million, respectively,…
Net income decreased $3.9 million, or 48%, for the three months ended June 30, 2026, and increased $16.3 million, or 195%, for the six months ended June 30, 2026, compared to the three and six months ended June 30, 2025, primarily driven by a $3.7 million decrease in income operations for the three …
Consumer revenue increased $13.3 million, or 8%, and $30.6 million, or 9%, for the three and six months ended June 30, 2026 compared to the three and six months ended June 30, 2025, respectively, primarily driven by increases of $9.6 million and $30.5 million from deposit accounts, respectively, as …
Sales and marketing expenses increased $17.4 million, or 14%, and $6.8 million, or 2%, for the three and six months ended June 30, 2026 compared to the three and six months ended June 30, 2025, respectively, as increases in performance marketing expenses of $26.6 million and $50.7 million, respectiv…
Capitalized internally developed software costs(4.0)(4.7)(8.5)(9.8)
Text removed vs the prior filing · source: 10-Q · 2026-05-06
Income from operations increased $26.5 million for the three months ended March 31, 2026 compared to the three months ended March 31, 2025, as revenue increased $13.0 million while operating expenses decreased $13.5 million, primarily attributable to a $10.6 million decrease in sales and marketing e…
Net income increased $20.2 million for the three months ended March 31, 2026 compared to the three months ended March 31, 2025, primarily driven by a $26.5 million increase in income from operations, partially offset by a $6.5 million increase in income tax provision.
Consumer revenue increased $17.3 million, or 10%, for the three months ended March 31, 2026, primarily driven by increases of $20.9 million from deposit accounts and $12.7 million from personal loans as partners expanded budgets, partially offset by a $12.5 million decrease from consumer credit card…
Sales and marketing expenses decreased $10.6 million, or 7%, for the three months ended March 31, 2026 compared to the three months ended March 31, 2025, as a $34.7 million decrease in other marketing expenses, primarily due to lower brand marketing expenses, was partially offset by a $24.1 million …
Non-GAAP operating income increased $24.4 million, or 262%, for the three months ended March 31, 2026 compared to the three months ended March 31, 2025, primarily driven by a $26.5 million increase in income from operations, partially offset by a $2.9 million decrease in depreciation and amortizatio…
Other information
Text removed vs the prior filing · source: 10-Q · 2026-05-06
On March 4, 2026, Nicholas Tatum terminated a Rule 10b5-1 trading arrangement.
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