PNYG — what changed in the latest 10-Q
A section-by-section comparison of PNYG'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 · 2025-11-12
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +9 | −14 | ~1 | 10 |
| Market risk (Item 3) | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Controls & procedures | Text added/removed | 0 | 0 | ~3 | 0 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
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, 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 compared to March 31, 2025
For the three months ended March 31, 2026 and 2025, revenues were $23,736 and $30,265, respectively, with a decrease of $6,529 over the same period in 2025. The decrease in revenue was primarily due to softened customer demand for car transportation services in 2026. The reduction in market demand d…
Cost of Revenue for the three months ended March 31, 2026 and 2025 were $6,457 and $18,644, respectively, a decrease of $12,187 over the same period in 2025. The decrease was mainly due to the decrease in costs was due to a reduction in order volume and a decline in the number of vehicles used to pr…
Gross profits were $17,279 and $11,621 for the three months ended March 31, 2026 and 2025, respectively. The gross profit margin as a percentage of sales were 72.8% and 38.4% for the three months ended March 31, 2026 and 2025, respectively. The increase in gross margin is attributable to the recogni…
Operating expenses for the three months ended March 31, 2026 and 2025 were $74,121 and $60,987, respectively. The increase of operating expenses was mainly due to increase of service fees accrued, not paid yet for other consulting services as compared to the prior period.
Text removed vs the prior filing · source: 10-Q · 2025-11-12
For the three and nine months ended September 30, 2025 compared to the same periods ended September 30, 2024
For the three months ended September 30, 2025 and 2024 revenues were $29,314 and $15,885, respectively, with an increase of $13,429 over the same period in 2024. The increase was due to a new client, Benfu Development, Ltd., introduced to Pony HK which contributed $16,623 in revenue for the three mo…
For the nine months ended September 30, 2025 and 2024, revenues were $104,137 and $52,038 respectively, with an increase of $52,099 over the same period in 2024. The increase in revenue was attributable to several new clients introduced to Pony HK, which includes Benfu Development., Ltd contributing…
Cost of Revenue for the three months ended September 30, 2025 and 2024 were $20,121 and $7,406, respectively, with an increase of $12,715 over the same period in 2024. The increase was mainly due to the increase of revenue which resulted in a decrease in cost of revenue accordingly.
Cost of Revenue for the nine months ended September 30, 2025 and 2024 were $66,826 and $28,487, respectively, with an increase of $38,339 over the same period in 2024. The increase was mainly due to the increase of revenue which resulted in an increase in cost of revenue accordingly.
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