SBC — what changed in the latest 10-Q
A section-by-section comparison of SBC'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 · 2026-05-14 vs the prior 10-Q · 2025-11-14
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +32 | −64 | ~17 | 17 |
| Market risk (Item 3) | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Controls & procedures | Text added/removed | 0 | 0 | ~4 | 3 |
| Legal proceedings | Text added/removed | +1 | −1 | 0 | 0 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
| Other information | Text added/removed | +1 | −1 | 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 · 2026-05-14
For the three months ended March 31, 2026 and 2025, we generated revenues of $43,060,562 and $47,328,701, respectively, we reported net income attributable to SBC Medical Group Holdings Incorporated of $11,308,071 and $21,502,446, respectively, and cash flows provided by operating activities of $9,2…
Further information regarding our business is provided in “Part I, Item 1. Business” of our Annual Report.
Because we acquired control of Waqoo, Inc. ("Waqoo") on December 19, 2025 and consolidated the financial information of Waqoo and its subsidiary on a three-month reporting lag, Waqoo’s results of operations did not materially impact our consolidated results for the three months ended March 31, 2026.
The following table summarizes our operating income as reflected in our unaudited consolidated statements of operations and comprehensive income for the three months ended March 31, 2026 and 2025, and presents information regarding amounts and percentage changes during those periods.
Note: Percentages are calculated as a percentage of total revenue and may not sum due to rounding.
Text removed vs the prior filing · source: 10-Q · 2025-11-14
For the three months ended September 30, 2025 and 2024, we generated revenues of $43,353,235 and $53,084,883, respectively, we reported net income attributable to SBC Medical Group Holdings Incorporated of $12,824,636 and $2,832,894, respectively. For the nine months ended September 30, 2025 and 202…
Further information regarding our business is provided in “Description of Business” of our Annual Report on Form 10-K for the year ended December 31, 2024, filed with the SEC on March 28, 2025.
The following table summarizes our operating income as reflected in our unaudited consolidated statements of operations and comprehensive income for the three months ended September 30, 2025 and 2024, and presents information regarding amounts and percentage changes during those periods.
Revenues, net (including net revenues provided to related parties)
Cost of revenues (including cost of revenues from related parties)
Legal proceedings
Text added vs the prior filing · source: 10-Q · 2026-05-14
The information required by this item is incorporated by reference to Note 19 (Commitments and Contingencies) to the unaudited consolidated financial statements.
Text removed vs the prior filing · source: 10-Q · 2025-11-14
We may be subject to legal proceedings, investigations and claims incidental to the conduct of our business from time to time. We are not currently a party to any material litigation or other legal proceedings brought against us. We are also not aware of any legal proceeding, investigation or claim,…
Other information
Text added vs the prior filing · source: 10-Q · 2026-05-14
During the three months ended March 31, 2026, none of our directors or officers adopted, modified, or terminated any Rule 10b5-1 trading arrangement or non-Rule 10b5-1 trading arrangement.
Text removed vs the prior filing · source: 10-Q · 2025-11-14
On September 22, 2025, Yoshiyuki Aikawa, our Chief Executive Officer and Chairman, terminated his previously disclosed Rule 10b5-1 trading arrangement (the "Aikawa Plan"), which provided for the potential sale of up to 1,030,000 shares of the Company’s common stock from September 22, 2025 to Septemb…
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