SABR — what changed in the latest 10-Q
A section-by-section comparison of SABR'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 · 2026-08-06 vs the prior 10-Q · 2026-05-07
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +48 | −34 | ~22 | 55 |
| Market risk (Item 3) | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Controls & procedures | No paragraph-level changes | 0 | 0 | 0 | 2 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Risk factors | Some risk factors updated | 0 | 0 | ~11 | 115 |
| 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.
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 · 2026-08-06
Revenue increased $25 million, or 4%, for the three months ended June 30, 2026 compared to the same period in the prior year, primarily due to:
•a $31 million, or 6%, increase in Marketplace revenue driven by a $25 million increase in transaction-based revenue primarily due to a 1% increase in direct billable bookings to 92 million and favorable rate impacts and a $6 million increase in product-based revenue; partially offset by
•a $6 million or 4%, decrease in Airline Technology revenue driven by a $4 million decrease in license fee revenue and a $3 million decrease in other revenue, partially offset by a $1 million increase in volume growth.
Cost of revenue, excluding technology costs, increased $14 million, or 5%, for the three months ended June 30, 2026 compared to the same period in the prior year primarily due to a $15 million increase in incentive consideration due to an increase in rates, transaction mix, and volumes.
Technology costs decreased by $1 million or 1%, for the three months ended June 30, 2026 compared to the same period in the prior year driven by a $9 million decrease in labor and professional services due to the inflation offset program, partially offset by a $5 million increase in technology costs…
Text removed vs the prior filing · source: 10-Q · 2026-05-07
Adjusted Net Income from continuing operations$24,293 $2,783
Adjusted Net Income from continuing operations per share$0.06 $0.01
Adjusted diluted weighted-average common shares outstanding(9)
(9) The Adjusted diluted weighted-average common shares outstanding calculation includes approximately 33 million resulting common shares related to the Exchangeable Notes for the three months ended March 31, 2026. The Adjusted diluted weighted-average common shares outstanding calculation includes …
Loss from continuing operations before income taxes(2,004)(15,025)
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