IOT — what changed in the latest 10-Q
A section-by-section comparison of IOT'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 · 2026-06-09 vs the prior 10-Q · 2025-12-09
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +14 | −26 | ~34 | 26 |
| Market risk (Item 3) | Text added/removed | 0 | 0 | ~2 | 3 |
| Controls & procedures | Text added/removed | 0 | 0 | ~1 | 4 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Risk factors | Some risk factors updated | +21 | −1 | 0 | 0 |
| Other information | Text added/removed | +2 | −5 | 0 | 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 · 2026-06-09
Interest income and other income, net, consists primarily of income earned on our money market funds and marketable debt securities, including amortization of premiums and accretion of discounts, and net unrealized gains (losses) on our strategic investments. It also includes one-time gains and loss…
Comparison of the Three Months Ended May 2, 2026 and May 3, 2025
Revenue increased by $112.0 million, or 31%, for the three months ended May 2, 2026 compared to the three months ended May 3, 2025, primarily due to an increase in new customers and increased purchases by existing customers.
Our gross margin decreased to 75% for the three months ended May 2, 2026 compared to 77% for the three months ended May 3, 2025, mainly due to increased cloud and cellular costs.
Research and development expense increased by $14.3 million, or 17%, for the three months ended May 2, 2026 compared to the three months ended May 3, 2025, primarily due to a $5.9 million increase in costs associated with software subscriptions, a $4.6 million increase in cloud and cellular costs dr…
Text removed vs the prior filing · source: 10-Q · 2025-12-09
(1)Customer count previously disclosed for prior period has been adjusted to reflect the updated definition of customer as described below under “Number of Customers Over $100,000 in ARR.”
To better reflect the structure of our largest enterprise customers, who often have multiple subsidiaries and grow through mergers and acquisitions, we adjusted our definition of a customer in the fiscal quarter ended May 3, 2025. Previously, separate entities within a larger organization were count…
Lease modification, impairment, and related charges consist of impairment charges related to the sublease and abandonment of facilities.
We may incur additional lease modification, impairment, and related charges in subsequent periods.
Interest income and other income, net, consists primarily of income earned on our money market funds and marketable debt securities, including amortization of premiums and accretion of discounts. It also includes the effect of changes in foreign currency exchange rates. As we have expanded our globa…
Risk factors
Text added vs the prior filing · source: 10-Q · 2026-06-09
Our business, operations, and financial condition are subject to various risks and uncertainties that could materially adversely affect our business, results of operations, financial condition, growth prospects, and the trading price of our Class A common stock. The following factors, among others n…
On June 1, 2026, the Company completed its conversion from a corporation organized under the laws of the State of Delaware to a corporation organized under the laws of the State of Nevada. The following risk factors have been updated to reflect certain differences in stockholder rights under Delawar…
Provisions in our articles of incorporation and bylaws and under Nevada law may prevent or frustrate attempts by our stockholders to change our management or hinder efforts to acquire a controlling interest in us, and the market price of our Class A common stock may be lower as a result.
There are provisions in our articles of incorporation and bylaws, and provisions of Nevada law, that may make it difficult for a third party to acquire, or attempt to acquire, control of our company, even if a change in control was considered favorable by certain of our stockholders. Such provisions…
•our articles of incorporation provide for a multi-class common stock structure, which provides our pre-IPO stockholders, including certain of our executive officers, employees, directors, and their affiliates, with significant influence over matters requiring stockholder approval, including the ele…
Text removed vs the prior filing · source: 10-Q · 2025-12-09
Our business, operations, and financial condition are subject to various risks and uncertainties that could materially adversely affect our business, results of operations, financial condition, growth prospects, and the trading price of our Class A common stock. You should carefully consider the ris…
Other information
Text added vs the prior filing · source: 10-Q · 2026-06-09
Adam Eltoukhy, our Executive Vice President, Chief Administrative Officer and Corporate Secretary, entered into a trading plan that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). The plan provides for the sale of up to 132,824 shares of our Class A common stock (less an…
During the quarterly period ended May 2, 2026, no other director or officer, as defined in Rule 16a-1(f), adopted or terminated a “Rule 10b5-1 trading arrangement” or a “non-Rule 10b5-1 trading arrangement,” each as defined in Regulation S-K, Item 408.
Text removed vs the prior filing · source: 10-Q · 2025-12-09
Jonathan Chadwick, one of our Directors, entered into a trading plan that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). The plan provides for the sale of up to 40,000 shares of our Class A common stock. The plan was adopted on September 25, 2025 and will terminate on D…
Sanjit Biswas, our Chief Executive Officer and Director, entered into trading plans on behalf of affiliated family trusts that are intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). The plans provide for the sale of an aggregate of up to 5,000,000 shares of our Class A common …
John Bicket, our Executive Vice President, Chief Technology Officer and Director, entered into trading plans on behalf of affiliated family trusts that are intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). The plans provide for the sale of an aggregate of up to 5,000,000 shar…
Benjamin Louis Kirchhoff, our Chief Accounting Officer, entered into a trading plan that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). The plan provides for the sale of up to 26,823 shares of our Class A common stock (less any shares that may be withheld by us or separ…
During the quarterly period ended November 1, 2025, no other director or officer, as defined in Rule 16a-1(f), adopted or terminated a “Rule 10b5-1 trading arrangement” or a “non-Rule 10b5-1 trading arrangement,” each as defined in Regulation S-K, Item 408.
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