QNST — what changed in the latest 10-Q
A section-by-section comparison of QNST'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 · 2026-05-08 vs the prior 10-Q · 2026-02-06
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +6 | −5 | ~28 | 41 |
| Market risk (Item 3) | Text added/removed | +1 | −1 | 0 | 3 |
| Controls & procedures | Text added/removed | 0 | 0 | ~1 | 1 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Risk factors | Text added/removed | +9 | −8 | ~10 | 210 |
| Other information | Text added/removed | +1 | −1 | 0 | 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 · 2026-05-08
Sales and marketing expenses increased by $2.8 million, or 55%, for the three months ended March 31, 2026 compared to the three months ended March 31, 2025, primarily due to increased personnel cost due to higher headcount as a result of the HomeBuddy acquisition, and increased amortization expense …
Sales and marketing expenses increased by $3.3 million, or 23%, for the nine months ended March 31, 2026 compared to the nine months ended March 31, 2025, primarily due to increased personnel cost due to higher headcount as a result of the HomeBuddy acquisition, and increased amortization expense du…
General and administrative expenses increased by $3.9 million, or 44%, for the three months ended March 31, 2026 compared to the three months ended March 31, 2025, primarily due to an increase in professional fees of $2.6 million principally related to our HomeBuddy acquisition, and a higher increas…
Cash provided by financing activities in the nine months ended March 31, 2026 was primarily due to the borrowings of $70.0 million under the Revolving Credit Facility and proceeds from the issuance of common stock under the employee stock purchase plan of $3.2 million, offset by repurchase of common…
In January 2026, we completed our acquisition of HomeBuddy, which was financed in part with borrowings under our revolving credit facility. As of March 31, 2026, $70.0 million was outstanding and classified as noncurrent debt, as the principal is contractually due on January 2, 2031. As of March 31,…
Text removed vs the prior filing · source: 10-Q · 2026-02-06
Sales and marketing expenses decreased by $0.1 million, or 3%, for the three months ended December 31, 2025 compared to the three months ended December 31, 2024.
Sales and marketing expenses increased by $0.4 million, or 5%, for the six months ended December 31, 2025 compared to the six months ended December 31, 2024, primarily due to increased personnel cost due to annual merit raises.
General and administrative expenses decreased by $1.1 million, or 8%, for the three months ended December 31, 2025 compared to the three months ended December 31, 2024, primarily due to the difference in the increase in the fair value of contingent consideration of $2.2 million, offset by an increas…
Cash used in financing activities in the six months ended December 31, 2025 was due to repurchase of common stock of $16.8 million, payment of withholding taxes related to the release of restricted stock, net of share settlement of $7.7 million and payment of post-closing payments and contingent con…
As of December 31, 2025, there were no material changes in our contractual obligations as presented in Part II, Item 7 Management’s Discussion and Analysis of Financial Condition and Results of Operations included in our Annual Report on Form 10-K for our fiscal year ended June 30, 2025. In January …
Market risk (Item 3)
Text added vs the prior filing · source: 10-Q · 2026-05-08
As of March 31, 2026, we had a $150.0 million Revolving Credit Facility with $70.0 million outstanding. Interest on borrowings under the Revolving Credit Facility is payable quarterly at specified margins above either Term SOFR or the ABR. Our exposure to interest rate risk under our revolving credi…
Text removed vs the prior filing · source: 10-Q · 2026-02-06
Our exposure to interest rate risk under our revolving credit facility is affected by the level of borrowings and changes in market interest rates. A hypothetical change of 1% from prevailing interest rates would not have a material effect on our interest expense.
Risk factors
Text added vs the prior filing · source: 10-Q · 2026-05-08
the past harmed, and may in the future harm, the websites’ placements in both paid and organic search result listings, which may reduce the number of visitors to our owned and operated and our third-party publishers’ websites and as a result, cause our revenue to decline.”
Further, foreign laws and regulations such as the European Union General Data Protection Regulation (the “EU GDPR”), and the version thereof implemented into the laws of the United Kingdom (the “UK GDPR”), may apply to our business and marketing activities that are offered to European Union and Unit…
share and otherwise process personal information in accordance with applicable laws and regulations. We also are, and in the future may become, subject to various other obligations relating to data privacy and security, including industry standards, external and internal policies, contracts and othe…
As another example, in February 2024, the FCC adopted new rules governing the ability of call and text message recipients to revoke consent previously given and thereby “opt-out” of receiving future calls and text messages from a sender. These new rules specify when a call or text message recipient’…
responses took effect on April 11, 2025. As of January 6, 2026, the FCC extended a waiver for the “revoke-all” requirement to January 31, 2027, which was set to go into effect on April 11, 2026.
Text removed vs the prior filing · source: 10-Q · 2026-02-06
in which case our revenue could decline or our operating costs could increase. For more information on our risks related to third-party publishers and search engines, please see the risk factor below titled “We depend upon Internet search companies to direct a significant portion of visitors to our …
disclosed. A security breach, cyber-attack or other similar incident experienced by any such third party could be perceived by consumers as a security breach of our systems and in any event could result in negative publicity, damage our reputation, expose us to risk of loss or litigation and possibl…
Further, foreign laws and regulations such as the European Union General Data Protection Regulation (the “EU GDPR”), and the version thereof implemented into the laws of the United Kingdom (the “UK GDPR”), may apply to our business and marketing activities that are offered to European Union and Unit…
As another example, in February 2024, the FCC adopted new rules governing the ability of call and text message recipients to revoke consent previously given and thereby “opt-out” of receiving future calls and text messages from a sender. These new rules specify when a call or text message recipient’…
revocation that a sender of a call or text message can rebut pursuant to a totality of circumstances test administered by the FCC or a court. They also require valid consent revocations to be honored within a reasonable period not to exceed ten business days from receipt of such request. Additionall…
Other information
Text added vs the prior filing · source: 10-Q · 2026-05-08
On March 6, 2026, Gregory Wong, Chief Financial Officer, entered into a Rule 10b5-1 Plan intended to satisfy the affirmative defense of Rule 10b5-1(c) under the Exchange Act. Mr. Wong's Rule 10b5-1 Plan provides for the potential sale (beginning on June 15, 2026) of all of the (net) shares of up to …
Text removed vs the prior filing · source: 10-Q · 2026-02-06
During the three months ended December 31, 2025, none of our directors or officers (as defined in Rule 16a-1(f) of the Securities Exchange Act) adopted or terminated a "Rule 10b5-1 trading arrangement" or "non-Rule 10b5-1 trading arrangement" as defined in Item 408 of Regulation S-K of the Securitie…
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