PPHC — what changed in the latest 10-Q
A section-by-section comparison of PPHC'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 · 2026-08-11 vs the prior 10-Q · 2026-05-14
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +61 | −34 | ~21 | 41 |
| Market risk (Item 3) | Text added/removed | 0 | 0 | ~1 | 1 |
| Controls & procedures | Text added/removed | 0 | 0 | ~3 | 5 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
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 · 2026-08-11
•The reduction in net loss of $2.0 million during the three months ended June 30, 2026 is attributable to a decrease of $1.1 million in Post-combination compensation charge, $0.8 million bargain purchase gain resulting from the acquisitions in 2026, and a favorable decrease in the change in fair val…
•In the three months ended June 30, 2026, Adjusted EBITDA was $12.3 million, down 4.4% or $0.6 million, as compared to the three months ended June 30, 2025, realized at a 23.5% margin. This decrease in Adjusted EBITDA was primarily attributable to the growth in non-allocated corporate costs, which i…
•In the three months ended June 30, 2026, Adjusted Net Income was $10.6 million, down 11.0% or $1.3 million, as compared to the three months ended June 30, 2025. Adjusted Net Income was primarily impacted by the $0.7 million increase in mergers and acquisitions expenses, the same factors as Adjusted…
•Adjusted EPS fully diluted of $0.34 compared to $0.45 in the three months ended June 30, 2025, reflecting the higher share count following the January 2026 U.S. IPO.
•In the six months ended June 30, 2026, revenue increased by 16.3% to $102.3 million, with organic growth contributing 4.4%, and the balance primarily driven by the two acquisitions, TrailRunner International, LLC (“TrailRunner”) (completed April 1, 2025), Westminster Policy Partners Limited (“WPI”)…
Text removed vs the prior filing · source: 10-Q · 2026-05-14
•The increase in net loss during the three months ended March 31, 2026 was driven by an increase in the change in fair value of contingent consideration of $5.3 million resulting from the non-cash remeasurement of acquisition-related earn-out liabilities based on updated performance forecasts and va…
•Adjusted EBITDA was at $11.2 million, up 29.7% as compared to three months ended March 31, 2025, with a 22.3% margin.
•Adjusted Net Income of $7.4 million was up 100.5% as compared to prior year, driven by our increase in revenue and higher Adjusted EBITDA as well as a favorable effective tax rate of 27.1% for three months ended March 31, 2026 as compared to an effective tax rate of 52.9% for the three months ended…
•Adjusted EPS fully diluted of $0.25 was up $0.11 or 74.5%, with fully diluted share count increasing by 14.9% as a consequence of the recent 2026 U.S. IPO.
•PPHC's net cash flows used in operating activities amounted to $11.7 million, representing a decrease of $3.0 million when compared to $8.6 million in 2025 Q1. Adjusted Free Cash Flow decreased to $(10.3) million as compared to $3.2 million in 2025. The negative cashflow in Q1 is typical as the Com…
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