SDCH — what changed in the latest 10-Q
A section-by-section comparison of SDCH'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 · 2026-05-12 vs the prior 10-Q · 2026-02-17
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +20 | −11 | ~12 | 16 |
| Market risk (Item 3) | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Controls & procedures | Text added/removed | 0 | 0 | ~1 | 7 |
| Legal proceedings | Text added/removed | 0 | 0 | ~1 | 0 |
| Risk factors | Some risk factors updated | 0 | 0 | 0 | 4 |
| Other information | Text added/removed | 0 | 0 | ~1 | 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 · 2026-05-12
Weighted average common shares outstanding – basic and diluted 4,497,378 4,382,878
Revenue. Our revenue was $1.6 million for the quarter ended March 31, 2026, compared to $1.9 million for the quarter ended March 31, 2025, representing a decrease of $318 thousand or 16.8%. This decrease was primarily due to the loss of clients with higher than average contract value.
Gross Profit. Our gross profit was $843 thousand and gross margin was 53.5% for the quarter ended March 31, 2026, compared to $941 thousand or 49.7% for the quarter ended March 31, 2025. The increase in our gross margin was the result of Enclave, which has a high gross margin, contributing a larger …
Operating Expenses. Operating expenses increased $289 thousand or 28.8% for the three months ended March 31, 2026, compared to the three months ended March 31, 2025. The changes for each operating expense area are discussed below.
General and Administrative Expenses. Our general and administrative expenses were $724 thousand for the three months ended March 31, 2026, compared to $655 thousand for the three months ended March 31, 2025, representing an increase of $69 thousand or 10.5%. The increase was the result of higher per…
Text removed vs the prior filing · source: 10-Q · 2026-02-17
Revenue. Our revenue was $1.8 million for the quarter ended December 31, 2025, compared to $1.9 million for the quarter ended December 31, 2024, representing a decrease of $134 thousand or 7.0%. This decrease was primarily due to the loss of clients with higher than average contract value as discuss…
Gross Profit. Our gross profit was $909 thousand and gross margin was 51.2% for the quarter ended December 31, 2025, compared to $874 thousand or 45.8% for the quarter ended December 31, 2024. The increase in our gross margin was the result of Enclave, which has a high gross margin, contributing a l…
Operating Expenses. Operating expenses increased $229 thousand or 21.2% for the three months ended December 31, 2025, compared to the three months ended December 31, 2024. The changes for each operating expense area are discussed below.
General and Administrative Expenses. Our general and administrative expenses were $677 thousand for the three months ended December 31, 2025, compared to $660 thousand for the three months ended December 31, 2024, representing an increase of $17 thousand or 2.6%. The increase was the result of highe…
Selling and Marketing Expenses. Our sales and marketing expenses were $457 thousand for the three months ended December 31, 2025, compared to $267 thousand for the three months ended December 31, 2024, representing an increase of $190 thousand or 71.2% due to an increase in employees and compensatio…
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