SNEX — what changed in the latest 10-Q
A section-by-section comparison of SNEX'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 · 2026-08-05 vs the prior 10-Q · 2026-05-06
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +76 | −81 | ~133 | 87 |
| Market risk (Item 3) | Text added/removed | 0 | 0 | ~4 | 11 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 1 |
| Risk factors | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Other information | Text added/removed | 0 | −3 | ~1 | 0 |
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): Legal proceedings
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 · 2026-08-05
We experienced a strong performance in the third quarter of fiscal 2026, highlighted by active client engagement, the further integration of recent acquisitions, as well as the continued benefits of the roll out of our digital offerings, with net operating revenues and net income up 47% and 102%, re…
•OTC derivatives RPC decreased 8%, primarily reflecting higher volumes across our digital platforms, where transactions are generally characterized by higher volume and lower margin per contract.
•Securities rate per million (“RPM”) increased 9%, primarily driven by product mix, including improved revenue capture in fixed income markets.
Operating revenues derived from FX/CFD contracts decreased $39.7 million, driven by declines of $34.4 million and $5.3 million in our Self-Directed/Retail and Institutional segments, respectively.
Operating revenues derived from physical contracts increased $241.1 million, principally driven by a $240.5 million increase in precious metals operating revenues.
Text removed vs the prior filing · source: 10-Q · 2026-05-06
On March 23, 2026, one of our subsidiaries, StoneX Financial Ltd, acquired all outstanding shares of WCS International Ltd, a London based wholesale banknotes trading and distribution business.
We built on the strong first quarter start to our fiscal year, with record net operating revenues and net income in our fiscal second quarter, up 70% and 143%, respectively as compared to the prior year and up 14% and 25%, respectively as compared to the immediately preceding first fiscal quarter. T…
•OTC derivatives RPC increased 17%, driven by heightened volatility noted above.
•Securities rate per million (“RPM”) decreased 3%, primarily driven by product mix, resulting in an increased volumes in narrower spread products, such as U.S. equities and U.S. Treasuries.
Operating revenues derived from FX/CFD contracts decreased $23.2 million, with decreases of $19.5 million in our Self-Directed/Retail segment, driven primarily by a decrease in RPM, and $3.7 million in our Institutional segment, principally resulting from a decline in ADV.
Other information
Text removed vs the prior filing · source: 10-Q · 2026-05-06
Name and TitleType of PlanAdoption DateDuration or End DateAggregate Number of Securities to be SoldDescription of Trading Arrangement
Sales of shares, and exercise of stock options and sale of underlying shares
Sales of shares, and exercise of stock options and sale of underlying shares
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