PATH — what changed in the latest 10-Q
A section-by-section comparison of PATH'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 · 2026-09-08 vs the prior 10-Q · 2026-06-04
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +42 | −26 | ~12 | 30 |
| Market risk (Item 3) | Text added/removed | 0 | 0 | ~2 | 1 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 2 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
| Other information | Text added/removed | +3 | −1 | ~2 | 0 |
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): Legal proceedings
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 · 2026-09-08
•Quarter-to-date revenue of $410.3 million increased 13% year-over-year.
•Year-to-date revenue of $828.6 million increased 15% year-over-year.
•Gross margin was 80% and 81% for the three and six months ended July 31, 2026, respectively, compared to 82% for the three and six months ended July 31, 2025.
•Cash flow from operations was $162.6 million for the six months ended July 31, 2026, compared to $160.6 million for the six months ended July 31, 2025.
•Cash and cash equivalents, restricted cash, and marketable securities were $1,406.5 million as of July 31, 2026, compared to $1,689.9 million as of January 31, 2026.
Text removed vs the prior filing · source: 10-Q · 2026-06-04
•Gross margin was 82% for the three months ended April 30, 2026 and 2025.
•Cash flow from operations was $131.9 million for the three months ended April 30, 2026, compared to $119.0 million for the three months ended April 30, 2025.
•Cash and cash equivalents, restricted cash, and marketable securities were $1,417.2 million as of April 30, 2026, compared to $1,689.9 million as of January 31, 2026.
A summary of ARR-related data at April 30, 2026 and 2025 is as follows:
(1) For the twelve months ended April 30, 2026 and 2025, respectively
Other information
Text added vs the prior filing · source: 10-Q · 2026-09-08
•On June 17, 2026, Raghu Malpani, our Chief Product and Technology Officer, modified a trading plan originally adopted on January 6, 2026. The modification is treated under Rule 10b5-1(c) as the termination of the prior plan and the adoption of a new trading plan intended to satisfy the affirmative …
•On July 13, 2026, Brad Brubaker, our Chief Legal & Administrative Officer, adopted a trading plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Exchange Act to sell up to 137,020 shares of our Class A common stock, through February 24, 2027 subject to limit pric…
•On July 15, 2026, IceVulcan Investments Limited, an entity controlled by Daniel Dines, our CEO, founder, and Chairman, adopted a trading plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Exchange Act to sell up to 5,000,000 shares of our Class A common stock th…
Text removed vs the prior filing · source: 10-Q · 2026-06-04
•On April 15, 2026, IceVulcan Investments Limited, an entity controlled by Daniel Dines, our CEO, founder, and Chairman, adopted a trading plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Exchange Act to sell up to 2,975,000 shares of our Class A common stock t…
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