XHLD — what changed in the latest 10-Q
A section-by-section comparison of XHLD'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 · 2025-11-10
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +16 | −31 | ~14 | 17 |
| Market risk (Item 3) | Text added/removed | 0 | 0 | ~1 | 0 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 1 |
| Legal proceedings | Text added/removed | +4 | 0 | ~1 | 0 |
| Risk factors | Restated in full this quarter | +1 | 0 | 0 | 0 |
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): 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
From time to time, we have non-recurring, non-operating gains and losses which are reflected through other income (expenses).
Revenue increased by $0.1 million, or 15.4%, to $0.9 million. The increase was primarily driven by one of our major customers increasing their revenue quarter-over-quarter by 100%.
Cost of revenue increased by $0.1 million, or 65.1%, to $0.3 million, driven by one major event that took place in the quarter from one of our customers that did not take place during the same period last year.
SG&A expenses decreased by $1.8 million, or 34.6%, to $3.4 million, due to lower headcount cost during the same period last year as well as the less stock-based compensation expenses recognized in the current period.
Deprecation expense decreased by $0.1 million to $0.01 million due to the company taking a large impairment expense at the end of 2025 which will cause all future periods to be less than 2025.
Text removed vs the prior filing · source: 10-Q · 2025-11-10
From time to time, we have non-recurring, non-operating gains and losses which are reflected through other income (expense) such as gains/losses of assets, non-cash valuation adjustments related to the 3(a)(10), impairment and or write-offs of investments.
Revenue increased by $8,000, or 1.5%, to $543,000. The increase was primarily driven by following factors:
● Revenue from delivered events – Virtual and Hybrid decreased by $18,000 mainly due to events shifting out of the current quarter due to shifting in event timelines from our customers.
● Revenue from delivered events – physical events increased by $26,000, mainly due to a large number of physical events taking place in the quarter from our clients allowing us to recognize all of the revenue within the period.
Cost of revenue increased by $29,000, or 26.6%, to $138,000, reflecting the increase amount of physical events that took place within the period since it has a larger labor component then virtual events.
Legal proceedings
Text added vs the prior filing · source: 10-Q · 2026-05-15
On October 27, 2025, the Company received a grand jury subpoena from the U.S. Attorney’s Office in connection with an investigation in the Southern District of New York. The subpoena calls for the production of documents relating to the Company’s initial public offering. The Company has produced rec…
On October 28, 2025, the Company learned that the SEC is conducting a related investigation pursuant to its authority. On March 10, 2026, the Company received a subpoena for documents from the SEC, which also calls for the production of documents and communications related to the Company’s initial p…
The Company is fully cooperating with both investigations and will comply with its obligations under the subpoenas. The Company cannot predict the scope or timing of the investigations, the resolution or the outcome of the investigations, the costs or the potential impact on the Company.
As of the reporting date, the investigations remain ongoing, no conclusions have been reached, and no final determinations have been made.
Risk factors
Text added vs the prior filing · source: 10-Q · 2026-05-15
Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 25
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