INSE — what changed in the latest 10-Q
A section-by-section comparison of INSE'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 · 2026-05-07
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +62 | −60 | ~39 | 67 |
| Market risk (Item 3) | Text added/removed | +8 | −6 | ~2 | 0 |
| Controls & procedures | Text added/removed | +7 | −8 | ~3 | 0 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Risk factors | No paragraph-level changes | 0 | 0 | 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 · 2026-08-05
Key Events during the three-month period ended June 30, 2026
On May 18, 2026, the Company announced that James Richardson had stepped down from his role as Executive Vice President and Chief Financial Officer. The Company’s Board of Directors promoted Craig Wilson, previously Inspired’s Vice President of Finance and Accounting, to the role of Executive Vice P…
During the period ended June 30, 2026, the Retail Solutions segment was affected by a customer’s shop closures that resulted in the removal of a number of Vantage terminals from the field. The Company has agreements in place to redeploy the majority of these terminals within the retail estate during…
During the period ended June 30, 2026, the company broadened the distribution of its Virtual Sports portfolio through a new Software as a Service (“SaaS”) distribution agreement with Playtech (LSE: PTEC). Under the agreement, Inspired’s Virtual Sports portfolio will be integrated into Playtech’s Spo…
During the period a company subsidiary was approved by the Alberta Gaming, Liquor and Cannabis Commission (AGLC) and obtained registration as an iGaming Goods or Services Supplier-Critical Gaming Systems (IGCS) allowing it to launch both interactive and virtual products into the newly regulated mark…
Text removed vs the prior filing · source: 10-Q · 2026-05-07
During the three-month period ended March 31, 2026, the CODM began reviewing the operational results of the business in a new structure. As a result, the Company now reports the following three reportable segments, Retail Solutions, Virtual Sports, and Interactive, down from the previous four report…
During the three-month period ended March 31, 2026, the Retail Solutions segment completed the installation of 574 Vantage terminals for JenningsBet in the UK LBO market. Within the same segment, the Company secured an order from Genting Casino for 300 of its new Velos terminals, with delivery expec…
During the three-month period ended March 31, 2026, the Company signed a multi-year extension of its long-standing Virtual Sports agreement with bet365, one of the world’s leading online gambling operators. The extension is expected to support continued collaboration to develop Virtual Sports innova…
During the three-month period ended March 31, 2026, the Interactive segment launched a new Lottery platform, STRATA™, on the Google Cloud Platform and deployed with LEIDSA (Loteria Electrônica Internacional Dominicana S.A.), a leading electronic lottery operator, and WLA member in the Dominican Repu…
Three Months Ended March 31, 2026, compared to Three Months Ended March 31, 2025
Market risk (Item 3)
Text added vs the prior filing · source: 10-Q · 2026-08-05
In November 2025, the Company entered into two interest rate swap agreements which fix the interest rate on £250.0 million of our debt at 3.6208% plus the margin significantly limiting our exposure to interest rate variations. The full details of the interest rate swaps are fully described in Note 8…
As at June 30, 2026, we had £252.5 million ($335.1 million) of senior note debt subject to a floating rate interest charge that can vary with the SONIA rate. If the floating interest rates increased by 1%, the additional interest charge would have been approximately $1.8 million for the six months e…
Up until the debt refinancing in June 2025, the previous external borrowings of senior notes were provided at a fixed rate. Therefore, movements in rates such as SONIA did not impact on the borrowings and the only fluctuation that was reported was solely caused by movements in the exchange rates bet…
Our operations are conducted in various countries around the world, and we receive revenue and pay expenses from these operations in a number of different currencies. As such, our earnings are subject to movements in foreign currency exchange rates when transactions are denominated in (i) currencies…
Excluding intercompany balances, our Euro functional currency net assets total approximately $28.0 million, and our US Dollar functional currency net assets total approximately $12.9 million. We use a sensitivity analysis model to measure the impact of a 10% adverse movement of foreign currency exch…
Text removed vs the prior filing · source: 10-Q · 2026-05-07
As at March 31, 2026, we had £260.0 million ($342.9 million) of senior note debt subject to a floating rate interest charge that can vary with the SONIA rate. If the floating interest rates increased by 1%, the additional interest charge would have been approximately $0.9 million for the three month…
Up until the refinancing of the debt in June 2025, the previous external borrowings were provided at a fixed rate. Therefore, movements in rates such as SONIA did not impact on the borrowings and the only fluctuation that was reported was solely caused by movements in the exchange rates between the …
Our operations are conducted in various countries around the world, and we receive revenue and pay expenses from these operations in a number of different currencies. As such, our earnings are subject to movements in foreign currency exchange rates when transactions are denominated in (i) currencies…
Excluding intercompany balances, our Euro functional currency net assets total approximately $29.4 million, and our USD functional currency net assets total approximately $11.6 million. We use a sensitivity analysis model to measure the impact of a 10% adverse movement of foreign currency exchange r…
Included within our trading results are earnings outside of our functional currency. Retained gains from Euro based entities earned in Euros and retained losses from USD based entities earned in USD in the three-month period ended March 31, 2026, were €3.1 million and $1.5 million, respectively. A h…
Controls & procedures
Text added vs the prior filing · source: 10-Q · 2026-08-05
Management continues to progress throughout 2026, with its remediation efforts regarding the previously identified material weaknesses. Specifically, management has implemented new systems and processes to enhance their internal SOX management testing programs, and staffing resources were also incre…
With respect to the material weakness identified and reported in our 2025 Form 10-K related to IT General Controls (as it relates to software updates by third-party vendors), management has designed and implemented procedures to address such deficiencies.
With respect to the material weakness identified and reported in our 2025 Form 10-K related to Capitalized Software and Contract Costs, the Company continues to design and implement new controls, as well as enhance its existing controls and procedures, to address the deficiencies identified.
With respect to the material weakness identified and reported in our 2025 Form 10-K related to revenue and accounts receivable, the Company is progressing through its remediation procedures designed to revalidate historical contracts and address the deficiencies identified.
As of June 30, 2026, as discussed above, the Company has made substantial progress in enhancing its systems, processes, and internal controls over financial reporting, which will also increase operational efficiency. Management remains committed to maintaining a strong control environment through th…
Text removed vs the prior filing · source: 10-Q · 2026-05-07
Management continues to progress throughout 2026, with its remediation efforts regarding the previously identified material weaknesses. With respect to the deficiencies associated with IT General Controls (as it relates to software updates by third-party vendors), management has designed and impleme…
These deficiencies will be deemed remediated once the new controls are operating effectively over a sufficient period of time to ensure its operating effectiveness. Due to the pervasive nature of the IT deficiencies, automated process-level and manual controls that depend on information derived from…
Continued efforts have also focused on remediating previously identified material weaknesses related to revenue and accounts receivable. Previously, the Company identified deficiencies due to insufficient evidence that all contracts executed prior to July 2025 had been revalidated such that billing …
In 2026, the Company continued to design and implement controls to remediate all identified deficiencies as well as designing and implementing controls to enhance its controls and procedures related to capitalized software and contract costs. Management anticipates that these deficiencies will be re…
Management has also implemented new systems and processes to enhance their internal SOX management testing programs. Staffing resources were also increased in both the Finance and IT departments to strengthen internal controls and support ongoing process improvements.
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