CPHC — what changed in the latest 10-Q
A section-by-section comparison of CPHC'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 · 2026-05-12 vs the prior 10-Q · 2025-11-07
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +12 | −14 | ~15 | 29 |
| Controls & procedures | Text added/removed | 0 | 0 | ~1 | 1 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
| Other information | Text added/removed | 0 | −2 | ~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): Market risk (Item 3), 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 · 2026-05-12
Total net revenues for the three months ended March 31, 2026 were $13,510,000, an increase of $368,000, or 2.8%, compared to total net revenues of $13,142,000 for the three months ended March 31, 2025. See below for a further discussion of our sources of revenues.
Salaries and benefits decreased $251,000, or 4.0%, for the three months ended March 31, 2026, compared to the same period in 2025. The decrease is primarily due to the continued focus on reducing labor expense and driving operational efficiencies.
Depreciation and amortization increased $117,000, or 12.6%, for the three months ended March 31, 2026, compared to the same period in 2025. The increase is primarily due to placing larger fixed assets into service related to the completion of large capital improvement projects.
Other operating expenses increased $113,000, or 8.9%, for the three months ended March 31, 2026, compared to the same period in 2025. The increase is primarily due to higher real estate taxes and special event promoter fees.
Other loss, net, for the three months ended March 31, 2026 was $705,000, a decrease of $425,000, compared to other loss, net, of $1,130,000 for the three months ended March 31, 2025. The decreased loss is primarily due to increased leasing rates for our Doran Canterbury equity investments, resulting…
Text removed vs the prior filing · source: 10-Q · 2025-11-07
Total net revenues for the three months ended September 30, 2025 were $18,315,000, a decrease of $969,000, or 5.0%, compared to total net revenues of $19,284,000 for the three months ended September 30, 2024. Total net revenues for the nine months ended September 30, 2025 were $47,122,000, a decreas…
Purse expense decreased $444,000, or 15.9%, and decreased $916,000, or 14.2%, for the three and nine months ended September 30, 2025, respectively, compared to the same periods in 2024. The decreases are primarily due to the decreased Casino and pari-mutuel revenues noted above.
Salaries and benefits decreased $18,000, or 0.2%, and increased $252,000, or 1.2%, for the three and nine months ended September 30, 2025, respectively, compared to the same periods in 2024. The increase for the nine months ended September 30, 2025 is primarily due to annual wage increases along wit…
Depreciation and amortization increased $91,000, or 9.7%, and increased $269,000, or 10.0%, for the three and nine months ended September 30, 2025, respectively, compared to the same periods in 2024. The increases are primarily due to placing larger fixed assets into service related to our barn relo…
Advertising and marketing costs increased $124,000, or 18.6%, and increased $324,000, or 26.7%, for the three and nine months ended September 30, 2025, respectively, compared to the same periods in 2024. The increases are primarily due to implementing new Casino promotions to attract and retain new …
Other information
Text removed vs the prior filing · source: 10-Q · 2025-11-07
The information set forth below is included herein for the purpose of providing the disclosure required under "Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers." of Form 8-K.
On November 4, 2025, the Compensation Committee accepted the voluntary proposal of Randall D. Sampson, Chief Executive Officer of Canterbury Park Holding Corporation, to reduce his annual base salary rate for the period of November 9, 2025 to March 28, 2026 by 20%. Payment of Mr. Sampson's base sala…
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