SPHR — what changed in the latest 10-Q
A section-by-section comparison of SPHR'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 · 2026-07-30 vs the prior 10-Q · 2026-05-05
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +65 | −45 | ~38 | 87 |
| Market risk (Item 3) | Text added/removed | +1 | 0 | ~3 | 3 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 0 |
| Legal proceedings | Text added/removed | 0 | 0 | ~1 | 7 |
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): Risk factors, 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 · 2026-07-30
Sphere: This segment reflects Sphere, an experiential medium powered by advanced technologies that bring storytelling to a new level. The Company’s first Sphere venue opened in Las Vegas on September 29, 2023. The entire exterior surface of Sphere, referred to as the Exosphere®, is covered with near…
number of immersive productions, concerts, residencies and other events that take place in the future. An economic downturn could adversely affect our business and results of operations. The Company continues to explore additional opportunities to expand our presence in the entertainment industry, b…
Less: Net income attributable to participating securities6,514 — 6,514 NM
Changes attributable toRevenuesDirect operating expensesSelling, general and administrative expenses Depreciation and amortizationImpairments and other losses, netRestructuring charges
For the three and six months ended June 30, 2026, depreciation and amortization increased $401 and $539, respectively, as compared to the prior year periods due to the increase in total property and equipment, gross in 2026 as compared to 2025.
Text removed vs the prior filing · source: 10-Q · 2026-05-05
Sphere: This segment reflects Sphere, an experiential medium powered by advanced technologies that bring storytelling to a new level. The Company’s first Sphere venue opened in Las Vegas on September 29, 2023. The entire exterior surface of Sphere, referred to as the Exosphere®, is covered with near…
investments in, and the success of, new immersive productions.
For the three months ended March 31, 2026, depreciation and amortization increased $138 as compared to the prior year period due to the increase in total property and equipment, gross in 2026 as compared to 2025.
During the three months ended March 31, 2026, the Company recognized impairments and other losses, net of $79. During the three months ended March 31, 2025, the Company recognized impairments and other losses, net of $521 relating to fixed assets at Sphere Las Vegas that were removed from the venue …
For the three months ended March 31, 2026, the Company recorded restructuring charges of $3,414, as compared to restructuring
Market risk (Item 3)
Text added vs the prior filing · source: 10-Q · 2026-07-30
of approximately 2.98%. As of June 30, 2026, a uniform hypothetical 10% fluctuation in the EUR/USD exchange rate would have resulted in a change of approximately $570 in the Company’s net asset value.
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