VMD — what changed in the latest 10-Q
A section-by-section comparison of VMD'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 · 2026-08-03 vs the prior 10-Q · 2026-05-05
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +32 | −13 | ~24 | 42 |
| Market risk (Item 3) | Text added/removed | 0 | 0 | ~1 | 0 |
| Controls & procedures | Text added/removed | 0 | 0 | ~1 | 4 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
| Other information | Text added/removed | 0 | 0 | ~1 | 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 · 2026-08-03
compete more effectively under a restructured Competitive Bidding Program. Larger operators may benefit from economies of scale that support service obligations, enable pricing flexibility, and enhance administrative efficiency relative to smaller suppliers.
For the three months ended June 30, 2026, total revenue was $78.1 million, an increase of $15.0 million, or 23.9%, compared to the three months ended June 30, 2025. The increase was driven by growth across our rental, equipment and supply sales, and service revenue categories, including continued ex…
Revenue from non-invasive and invasive ventilator rentals increased by $2.6 million, or 7.7%, to $36.4 million for the three months ended June 30, 2026. The increase was primarily attributable to higher average patient volumes, reflecting continued demand for home non-invasive ventilation services a…
Ventilator rentals remained our largest individual source of revenue. However, the continued growth of PAP therapy and resupply, women’s health, oxygen therapy, and other home medical equipment offerings resulted in a more diversified revenue mix during the 2026 period.
For the three months ended June 30, 2026, cost of revenue totaled $33.0 million, an increase of $6.7 million, or 25.5%, from the comparable period in 2025. The increase was primarily attributable to the costs associated with higher patient and sales volumes and the inclusion of the Lehan operations.
Text removed vs the prior filing · source: 10-Q · 2026-05-05
smoking prevalence, under-diagnosis of certain health conditions, and higher diagnosis rates for chronic diseases collectively shape the industry. There is a notable shift towards home-based treatment for these conditions.
For the three months ended March 31, 2026, total revenue was $75.4 million, an increase of $16.3 million, or 27.5%, compared to the three months ended March 31, 2025. The increase reflects broad-based growth across both our rental and sales and services revenue streams, driven by continued execution…
Ventilator rentals, non-invasive and invasive, revenues increased by $3.2 million, or 10.0%, to $35.4 million for the three months ended March 31, 2026, reflecting higher period-over-period patient volumes attributable to sustained demand for our ventilation services. Rental revenue from other home …
The composition of our revenue continues to evolve in a manner consistent with our long-term strategic objectives. Ventilator rentals remain the largest contributor to total revenue; however, PAP-related rental and resupply revenue, oxygen therapy, and maternal health offerings each represented a gr…
For the three months ended March 31, 2026, cost of revenue totaled $32.6 million, an increase of $6.7 million, or 26.1%, from the comparable period in 2025. Gross profit margin improved to 56.8% for the three months ended March 31, 2026 from 56.3% for the three months ended March 31, 2025.
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