SBIG — what changed in the latest 10-Q
A section-by-section comparison of SBIG'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 · 2026-08-19 vs the prior 10-Q · 2026-05-14
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +53 | −36 | ~12 | 31 |
| Market risk (Item 3) | No paragraph-level changes | 0 | 0 | 0 | 5 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 1 |
| Legal proceedings | Text added/removed | 0 | 0 | ~1 | 0 |
| Risk factors | Text added/removed | +8 | −2 | 0 | 1 |
| 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 · 2026-08-19
As described under “Recent Developments” below and in Note 16 to the condensed consolidated financial statements included in Item 1 of this report, subsequent to June 30, 2026, the Company consummated a reorganization transaction pursuant to which it transferred all of its equity interests in Spring…
SpringBig is a market-leading software platform providing customer loyalty and marketing automation solutions to retailers and brands. We have leveraged our deep expertise in loyalty marketing to develop solutions that address the key challenges faced by retailers and brands, including those in the …
SpringBig serves approximately 706 clients across more than 2,600 distinct retail locations in North America. Our clients distribute approximately 600 million messages annually, via text, push or email, and in the last year more than $5.6 billion of gross merchandise value was accounted for by clien…
On June 14, 2022, SpringBig Holdings, Inc., a Delaware corporation (formerly known as Tuatara Capital Acquisition Corporation (“Tuatara”)), consummated a business combination of Tuatara and SpringBig, Inc., a Delaware corporation. Pursuant to the merger agreement, prior to the closing of the busines…
As a consequence of the business combination, SpringBig, Inc. became the successor to an SEC-registered and Nasdaq-listed company, which required us to implement procedures and processes to address public company regulatory requirements and customary practices. On September 5, 2023, we were delisted…
Text removed vs the prior filing · source: 10-Q · 2026-05-14
SpringBig is a market-leading software platform providing customer loyalty and marketing automation solutions to retailers and brands. We have leveraged our deep expertise in loyalty marketing to develop solutions that address the key challenges faced by retailers and brands, including those in the …
SpringBig serves approximately 750 clients across more than 2,250 distinct retail locations in North America. Our clients distribute approximately 640 million messages annually, via text, push or email, and in the last year more than $5.7 billion of gross merchandise value was accounted for by clien…
On June 14, 2022, SpringBig Holdings, Inc., a Delaware corporation (formerly known as Tuatara Capital Acquisition Corporation), consummated a business combination of Tuatara and Legacy SpringBig, a Delaware corporation. Pursuant to the merger agreement, prior to the closing of the business combinati…
As a consequence of the business combination, Legacy SpringBig became the successor to an SEC-registered and Nasdaq-listed company, which required us to implement procedures and processes to address public company regulatory requirements and customary practices. On September 5, 2023, SpringBig Holdi…
We monitor the following key financial and operational metrics to evaluate our business, measure our performance, identify trends affecting our business, formulate business plans, and make strategic decisions. The following is our analysis for the three months ended March 31, 2026, and 2025, in thou…
Risk factors
Text added vs the prior filing · source: 10-Q · 2026-08-19
The Company’s ability to continue as a going concern is dependent upon its ability to identify and consummate a strategic business combination or other transaction. If the Company is unable to consummate such a transaction, the Company will likely liquidate and wind up its affairs.
On January 23, 2024, the Company entered into a securities purchase agreement (the “Notes Purchase Agreement”) with Shalcor Management, Inc. and other purchasers (the “Investors”), pursuant to which the Company issued $6.4 million aggregate principal amount of Senior Secured Convertible Notes and $1…
On February 6, 2026, the Company notified the holders of the Notes that it was not in compliance with the minimum cash balance covenant under the applicable note agreements for the month of January 2026. On April 21, 2026, the Company received a Notice of Default, Reservation of Rights and Notice of…
On July 13, 2026, the Company consummated the transactions contemplated by a Reorganization Agreement (the “Reorganization Agreement”) among the Company, SpringBig, Inc., Shalcor Management Inc. (as collateral agent and administrative agent), Lightbank II, L.P., and LS Round II, LLC (the “Transferee…
Following the consummation of the Reorganization Transaction, the Company no longer owns the operating business previously conducted through SpringBig, Inc. The Company’s remaining assets consist primarily of approximately $172 thousand in cash consideration received at closing, together with any re…
Text removed vs the prior filing · source: 10-Q · 2026-05-14
Our obligations to the holders of the Notes are secured by a security interest in substantially all of our assets, so if we default on those obligations, the noteholders could foreclose on, liquidate and/or take possession of our assets and/or accelerate the payment of principal. We have received a …
On January 23, 2024, the Company entered into that certain securities purchase agreement (the “Notes Purchase Agreement”), dated January 23, 2024, between the Company and Shalcor Management, Inc. and other Purchasers (the “Investors”), pursuant to which the Company agreed to sell a total of $5.4 mil…
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