P — what changed in the latest 10-Q
A section-by-section comparison of P'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 · 2026-09-04 vs the prior 10-Q · 2026-06-05
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +18 | −18 | ~18 | 24 |
| Market risk (Item 3) | Text added/removed | 0 | 0 | ~4 | 1 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 1 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Risk factors | Text added/removed | +2 | −3 | ~16 | 189 |
| Other information | Text added/removed | +2 | −1 | 0 | 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 · 2026-09-04
•We announced a design win with a second top-five hyperscaler, leveraging our advanced DirectFlash® architecture to drastically lower operational costs and reclaim vital power and rack space for hyperscale workloads.
•During //Accelerate 2026, we unveiled the Data-Primacy Architecture - Everpure Data Intelligence for automated data discovery and governance.
During the second quarter of fiscal 2027 compared to the second quarter of fiscal 2026, total revenue in the United States grew 19% from $577.0 million to $688.4 million while total rest of the world revenue grew 75% from $284.0 million to $497.5 million. During the first two quarters of fiscal 2027…
The slight decrease in product gross margin during the second quarter of fiscal 2027 when compared to the second quarter fiscal 2026 was primarily due to increase in component pricing, partially offset by royalties from hyperscaler shipments.
The slight increase in product gross margin during the first two quarters of fiscal 2027 when compared to the first two quarters of fiscal 2026 was primarily due to lower amortization of intangible assets and to a lesser extent royalties from hyperscaler shipments, partially offset by increase in co…
Text removed vs the prior filing · source: 10-Q · 2026-06-05
•In March 2026, we extended Evergreen//One support to FlashBlade//EXA, providing a flexible pay-as-you-go model for high-performance AI training and inference, and also announced the general availability of Everpure™ FlashArray™ support for Microsoft Azure Local.
•In April 2026, we announced Pure1 + Veeam Anomaly Awareness Workflow, which is a new integration unifying Everpure Pure1 and Veeam Backup & Replication (VBR).
•In April 2026, we also updated our ticker symbol (NYSE: P), reflecting our expansion from a storage provider to a leader in the future of data management.
•In May 2026, we completed the strategic acquisition of 1touch, an innovator in data intelligence and orchestration, adding data security posture management (DSPM), advanced data discovery, classification, and semantic context capabilities to the Everpure Platform.
During the first quarter of fiscal 2027 compared to the first quarter of fiscal 2026, total revenue in the United States grew 39% from $530.7 million to $739.4 million while total rest of the world revenue grew 27% from $247.8 million to $313.5 million.
Risk factors
Text added vs the prior filing · source: 10-Q · 2026-09-04
In addition, we depend on our contract manufacturers and other third parties to provide sufficient component availability for our products and services. Our third-party contract manufacturers procure components and build our products based on our forecasts, and we generally do not hold inventory for…
To support component procurement for our hyperscale customers who purchase products from our contract manufacturers, we have in some cases entered into agreements with component suppliers under which the supplier commits to sell a specified volume of components directly to contract manufacturers. Un…
Text removed vs the prior filing · source: 10-Q · 2026-06-05
In addition, to scale our supply chain, we must manage our supply and inventory effectively, including ensuring a sufficient supply of flash to support our hyperscaler customer. If our hyperscale customer reduces its demand for our flash storage solutions, we may be obligated to fulfill component pu…
Our third-party contract manufacturers procure components and build our products based on our forecasts, and we generally do not hold inventory for a prolonged period of time. Our forecasts are based on estimates of future demand for our products, which are in turn based on historical trends and ana…
exacerbate other risk factors, increase our costs and decrease our gross margins, harming our business, operating results and financial condition.
Other information
Text added vs the prior filing · source: 10-Q · 2026-09-04
On July 7, 2026, Mallun Yen, a member of our Board of Directors, adopted a Rule 10b5-1 trading plan that is intended to satisfy the affirmative defense of Rule 10b5-1(C). The plan provides for the sale of up to 11,942 shares of our common stock until the earlier of December 31, 2026, or when all sha…
During the second quarter of fiscal 2027, other than Ms. Yen, no director or officer, as defined in Rule 16a-1(f), adopted or terminated a “Rule 10b5-1 trading arrangement” or a “non-Rule 10b5-1 trading arrangement,” each as defined in Regulation S-K Item 408.
Text removed vs the prior filing · source: 10-Q · 2026-06-05
During the first quarter of fiscal 2027, no director or officer, as defined in Rule 16a-1(f), adopted or terminated a “Rule 10b5-1 trading arrangement” or a “non-Rule 10b5-1 trading arrangement,” each as defined in Regulation S-K Item 408.
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