GCTS — what changed in the latest 10-Q
A section-by-section comparison of GCTS'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 · 2026-08-10 vs the prior 10-Q · 2026-05-12
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +33 | −19 | ~28 | 54 |
| Market risk (Item 3) | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 2 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 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 · 2026-08-10
Product sales remained consistent at $0.4 million for each of the three months ended June 30, 2026 and 2025. A $0.3 million decrease in 4G product sales was offset by a $0.3 million increase in 5G product sales, reflecting the continued transition of certain customers from 4G to 5G products.
Service revenues decreased by $0.2 million, from $0.8 million for the three months ended June 30, 2025 to $0.6 million for the three months ended June 30, 2026. The decrease was primarily due to a $0.8 million decrease in LTE service revenue as our service project portfolio shifted to 5G service off…
Product costs increased by $0.5 million, from $0.6 million for the three months ended June 30, 2025 to $1.0 million for the three months ended June 30, 2026. The increase was primarily attributable to a $0.4 million increase in manufacturing costs driven by the ramp-up of 5G production and related r…
Our gross margin was 32% for the three months ended June 30, 2025. Our gross margin for the three months ended June 30, 2026 is negative and not representative of our expectations regarding profitability of our products and services in future reporting periods.
General and administrative expenses decreased by $0.6 million, from $3.4 million for the three months ended June 30, 2025 to $2.8 million for the three months ended June 30, 2026. The decrease was primarily due to a lower loss resulting from changes in the allowance for credit losses on accounts rec…
Text removed vs the prior filing · source: 10-Q · 2026-05-12
Product sales increased by $0.4 million, from $0.1 million for the three months ended March 31, 2025 to $0.5 million for the three months ended March 31, 2026. The sales of our LTE platforms increased by $0.3 million dollars for the three months ended March 31, 2026 compared to the three months ende…
Service revenues increased by $1.0 million, from $0.4 million for the three months ended March 31, 2025 to $1.4 million for the three months ended March 31, 2026. The increase was due to the addition of 5G revenue during the three months ended March 31, 2026, which contributed $1.4 million to our se…
Product costs increased by $0.7 million, from $0.2 million for the three months ended March 31, 2025 to $0.9 million for the three months ended March 31, 2026. The increase was primarily attributable to $0.4 million in higher platform costs for LTE and 5G products, to support increased sales volumes…
Our gross margin increased to 49% for the three months ended March 31, 2026 from 18% for the three months ended March 31, 2025 primarily due to changes in the revenue mix. Specifically, we generated higher margins from our service offerings and increased the share of 5G and LTE platform sales during…
General and administrative expenses remained consistent at $2.7 million and $2.6 million for the three months ended March 31, 2026 and 2025, respectively.
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