BRLT — what changed in the latest 10-Q
A section-by-section comparison of BRLT'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 | +31 | −12 | ~21 | 37 |
| Market risk (Item 3) | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 0 |
| Legal proceedings | Text added/removed | 0 | 0 | ~1 | 1 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
| 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
•Net income margin of 0.7%, compared to net loss margin of 1.0% for the three months ended June 30, 2025;
•Adjusted EBITDA of $5.8 million, up 81.3% compared to $3.2 million for the three months ended June 30, 2025; and
•Adjusted EBITDA margin of 5.0%, compared to 2.9% for the three months ended June 30, 2025.
Below is a summary of our performance for the six months ended June 30, 2026:
•Net loss of $7.6 million, down 73.8% compared to net loss of $4.4 million for the six months ended June 30, 2025;
Text removed vs the prior filing · source: 10-Q · 2026-05-07
•Net loss of $8.5 million, up 158.7% compared to net loss of $3.3 million for the three months ended March 31, 2025;
•Net loss margin of 8.5%, compared to net loss margin of 3.5% for the three months ended March 31, 2025;
•Adjusted EBITDA of negative $4.7 million, down 536.5%, compared to $1.1 million for the three months ended March 31, 2025; and
•Adjusted EBITDA margin of negative 4.7%, compared to 1.1% for the three months ended March 31, 2025.
We also believe our expanded fine jewelry assortment and strategic customer acquisition will continue to drive fine jewelry orders from new customers and repeat orders from existing customers.
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