STX — what changed in the latest 10-Q
A section-by-section comparison of STX'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 · 2026-04-29 vs the prior 10-Q · 2026-01-30
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +13 | −12 | ~35 | 20 |
| Market risk (Item 3) | Text added/removed | +2 | −2 | ~4 | 7 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 0 |
| Risk factors | Some risk factors updated | +1 | 0 | ~6 | 213 |
| Other information | Text added/removed | +4 | −2 | ~1 | 2 |
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 · 2026-04-29
Gross margin for the three and nine months ended April 3, 2026 increased by 12 percentage points and 9 percentage points from the three and nine months ended March 28, 2025, respectively, primarily driven by pricing actions undertaken by the Company, favorable volume and product mix, and $10 million…
Warranty cost related to new shipments was 1.0%, 0.9% and 0.7% of revenue for the March 2026 quarter, December 2025 quarter and March 2025 quarter, respectively.
Product development expense. Product development expenses increased by $7 million in the March 2026 quarter compared to the December 2025 quarter, primarily due to a $3 million increase in material expenses and a $2 million increase in compensation and other employee benefits.
Product development expenses increased by $14 million in the March 2026 quarter compared to the March 2025 quarter, primarily due to an $8 million increase in outside services costs and a $3 million increase in facilities costs.
Legal settlement. We recorded a charge of $105 million in the March 2026 quarter related to a litigation matter. Refer to “Item 1. Financial Statements—Note 11. Legal, Environmental and Other Contingencies” for more details.
Text removed vs the prior filing · source: 10-Q · 2026-01-30
Gross margin for the December 2025 quarter increased by 7 percentage points compared to the December 2024 quarter primarily driven by pricing actions undertaken by the Company and favorable volume and product mix.
Gross margin for the six months ended January 2, 2026 increased by 7 percentage points compared to the six months ended December 27, 2024 primarily driven by pricing actions undertaken by the Company and favorable volume and product mix.
Warranty cost related to new shipments was 0.9%, 0.8% and 0.7% of revenue for the December 2025 quarter, September 2025 quarter and December 2024 quarter, respectively.
Product Development Expense. Product development expenses remained relatively flat in the December 2025 quarter compared to the September 2025 quarter and the December 2024 quarter, respectively.
Restructuring and other, net. We recorded $3 million of restructuring charges in the December 2025 quarter, primarily related to employee related termination benefits.
Market risk (Item 3)
Text added vs the prior filing · source: 10-Q · 2026-04-29
Commodity Price Risk. We have commodity price risk which could have an impact on our financial results because of changes in the prices of precious metals used in manufacturing our products. From time to time, we may use commodity forward contracts to manage exposure related to certain precious meta…
Other Market Risks. We have exposure to counterparty credit downgrades in the form of credit risk related to our foreign currency forward exchange contracts, our commodity forward contracts and our fixed income portfolio. We monitor and limit our credit exposure for our foreign currency forward exch…
Text removed vs the prior filing · source: 10-Q · 2026-01-30
Other Market Risks. We have exposure to counterparty credit downgrades in the form of credit risk related to our foreign currency forward exchange contracts and our fixed income portfolio. We monitor and limit our credit exposure for our foreign currency forward exchange contracts by performing ongo…
Changes in our corporate issuer credit ratings have minimal impact on our near-term financial results, but downgrades may negatively impact our future ability to raise capital, our ability to execute transactions with various counterparties, and may increase the cost of such capital.
Risk factors
Text added vs the prior filing · source: 10-Q · 2026-04-29
Armed conflicts and geopolitical tensions may also result in sanctions, export restrictions, tariffs or other trade restrictions, limit or restrict our ability to access certain markets and disrupt key logistics networks, including air and ocean freight travel routes. These developments have increas…
Other information
Text added vs the prior filing · source: 10-Q · 2026-04-29
James C. Lee Executive Vice President, Chief Legal Officer and Corporate Secretary January 29, 2026January 29, 202719,958
Dr. John C. MorrisExecutive Vice President and Chief Technology OfficerJanuary 29, 2026May 7, 202781,462
Ban Seng TehExecutive Vice President, Global Sales and Sales Operations February 11, 2026February 11, 202754,366
Dr. William D. MosleyBoard Chair and Chief Executive OfficerFebruary 18, 2026April 30, 2027360,000
Text removed vs the prior filing · source: 10-Q · 2026-01-30
Gianluca Romano Executive Vice President and Chief Financial Officer November 26, 2025July 17, 202624,390
2 The reporting of this trading plan was previously omitted due to an administrative oversight.
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