ARDT — what changed in the latest 10-Q
A section-by-section comparison of ARDT'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 · 2026-08-10 vs the prior 10-Q · 2026-05-06
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +183 | −113 | ~62 | 382 |
| Market risk (Item 3) | Text added/removed | +2 | −5 | ~5 | 11 |
| Controls & procedures | Text added/removed | 0 | 0 | ~6 | 8 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 4 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
| Other information | Text added/removed | 0 | 0 | ~2 | 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 · 2026-08-10
programs, which may result in decreased revenue from certain Medicaid supplemental payment programs in future periods
During the three months ended June 30, 2026 and 2025, we recorded revenue of $197.1 million and $254.9 million,
respectively, related to Medicaid supplemental payment programs. The decrease in revenue from Medicaid supplemental
payment programs was primarily attributable to the delayed renewal of New Mexico's program during the prior year, which
corresponded to the recognition of two quarters of program revenue during the three months ended June 30, 2025. During
Text removed vs the prior filing · source: 10-Q · 2026-05-06
On September 18, 2025, we executed an amendment to our term loan credit agreement (the "Term Loan B Credit
Agreement") to refinance the outstanding term loans under our senior secured term loan facility (the "Term Loan B Facility").
The amendment (i) reduced the applicable interest rate by 50 basis points from Term SOFR plus 2.75% to Term SOFR plus
2.25% and from the base rate plus 1.75% to the base rate plus 1.25%, (ii) extended the maturity date to September 18, 2032
and (iii) increased the baskets for certain fixed dollar negative covenants and (iv) reestablished principal payments under the
Market risk (Item 3)
Text added vs the prior filing · source: 10-Q · 2026-08-10
2029. Please refer to Note 5, Interest Rate Swap Agreements, to our accompanying condensed consolidated financial
statements included elsewhere in this Quarterly Report for more information on the interest rate swap agreements. Under the
Text removed vs the prior filing · source: 10-Q · 2026-05-06
expiring June 30, 2026 and June 26, 2029, respectively. Please refer to Note 5, Interest Rate Swap Agreements, to our
accompanying condensed consolidated financial statements included elsewhere in this Quarterly Report for more information
on the interest rate swap agreements. Under the amended October 2021 Agreements, expiring June 30, 2026, we are required
to make monthly fixed rate payments at annual rates ranging from 1.47% to 1.48% and the counterparties are obligated to
make monthly floating rate payments to us based on one-month Term SOFR, each subject to a floor of 0.39%. Under the
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