ASYS — what changed in the latest 10-Q
A section-by-section comparison of ASYS'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 · 2026-05-07 vs the prior 10-Q · 2026-02-05
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +15 | −16 | ~10 | 26 |
| Market risk (Item 3) | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Controls & procedures | Text added/removed | +2 | 0 | ~1 | 1 |
| Risk factors | Some risk factors updated | +5 | 0 | ~1 | 0 |
| 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.
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 · 2026-05-07
Total net revenue for the three months ended March 31, 2026 and 2025 was $20.5 million and $15.6 million, respectively, an increase of approximately $4.9 million or 31%. Total net revenue for the six months ended March 31, 2026 and 2025 was $39.4 million and $40.0 million, respectively, a decrease o…
AI chip demand. Our Semiconductor Fabrication Solutions results for the second quarter increased primarily due to increased shipments of our polishing and wafer cleaning equipment, and increased demand for our consumables.
Our gross margins can be affected by capacity utilization, material costs, and the type and volume of machines and consumables sold each quarter. Gross margin for the three months ended March 31, 2026 and 2025 was $9.8 million, 48% of net revenue, and $(0.3) million, (2)% of net revenue, respectivel…
Gross margin on products from both our Thermal Processing Solutions segment and our Semiconductor Fabrication Solutions segment increased in the current period ended March 31, 2026 compared to the three and six months ended March 31, 2025, due to favorable product mix and the inventory write down as…
Selling, general and administrative (“SG&A”) expenses consist of the cost of employees, consultants and contractors, facility costs, sales commissions, shipping costs, promotional marketing expenses, legal and accounting expenses, bad debt expense and employee incentive accruals.
Text removed vs the prior filing · source: 10-Q · 2026-02-05
Total net revenue for the three months ended December 31, 2025 and 2024 was $19.0 million and $24.4 million, respectively, a decrease of approximately $5.4 million or 22%. Our Thermal Processing Solutions results for the first quarter decreased primarily due to the reduction in belt furnace shipment…
Additionally, we experienced declines in our wafer cleaning equipment, partially offset by increases in shipments of our consumables.
Our gross margins can be affected by capacity utilization, material costs, and the type and volume of machines and consumables sold each quarter. Gross margin for the three months ended December 31, 2025 and 2024 was $8.5 million (45% of net revenue) and $9.4 million (38% of net revenue), respective…
Gross margin on products from both our Thermal Processing Solutions segment and our Semiconductor Fabrication Solutions segment decreased compared to the three months ended December 31, 2024, due to unfavorable product mix with increases in shipments of our lower margin profile high-temperature furn…
are also continuing to explore additional partnerships with contract manufacturers, who can leverage their buying power on a larger scale.
Controls & procedures
Text added vs the prior filing · source: 10-Q · 2026-05-07
Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by the Company in the reports that it files or submits under the Exchange Act is accumulated and communicated to management, including the principal ex…
During the fiscal quarter ended March 31, 2026, there were no changes in our internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f) that materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.
Risk factors
Text added vs the prior filing · source: 10-Q · 2026-05-07
Armed Conflict Involving Iran and Related Geopolitical Instability Could Disrupt Global Semiconductor Supply Chains and Adversely Affect Our Business, Financial Condition and Results of Operations.
The ongoing armed conflict involving Iran has introduced significant geopolitical uncertainty to the Middle East and surrounding regions. The conflict, including direct military operations, has the potential to escalate and draw in additional state and non-state actors, destabilize critical trade ro…
Hostilities involving Iran could lead to disruptions in global energy markets, including significant increases in the price of oil and natural gas, given Iran’s strategic position near the Strait of Hormuz, through which a substantial portion of global oil shipments transit. Energy price volatility …
The conflict could also result in the imposition of new or expanded economic sanctions, export controls or trade restrictions by the United States or other governments, which could limit our ability to source materials, transact with certain counterparties or sell our products in certain markets. We…
In addition, armed conflict in the region could adversely affect macroeconomic conditions globally, contribute to inflationary pressures, increase volatility in foreign currency exchange rates and financial markets, and reduce business confidence and capital spending by our customers. Any prolonged …
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