LQDT — what changed in the latest 10-Q
A section-by-section comparison of LQDT'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 | +10 | −8 | ~43 | 83 |
| Market risk (Item 3) | Text added/removed | 0 | 0 | ~2 | 2 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 1 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
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): 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 · 2026-08-06
Transaction Model Mix. Most of our transactions are conducted under the consignment model, which represented 83.1% and 81.7% of our consolidated GMV for the three and nine months ended June 30, 2026, respectively, and 82.5% and 80.9% of our consolidated GMV for the three and nine months ended June 3…
Purchase model transactions are a smaller proportion of our consolidated GMV, representing 16.9% and 18.3% of our consolidated GMV for the three and nine months ended June 30, 2026, respectively, and 17.5% and 19.1% of our consolidated GMV for the three and nine months ended June 30, 2025, respectiv…
Valuation of goodwill. Goodwill is allocated to our reporting units. The Company's reporting units are GovDeals, CAG, RSCG, Machinio and Software Solutions. Only the GovDeals, CAG, Machinio and Software Solutions reporting units have goodwill balances.
The Company's Software Solutions reporting unit was acquired during fiscal 2025 and has a goodwill balance of $5.1 million. As a recently acquired business, this reporting unit has limited post-acquisition valuation history. Accordingly, its goodwill impairment analyses may be particularly sensitive…
Notes to the Unaudited Condensed Consolidated Financial Statements - (Continued)
Text removed vs the prior filing · source: 10-Q · 2026-05-07
Transaction Model Mix. Most of our transactions are conducted under the consignment model, which represented 80.9% and 80.9% of our consolidated GMV for the three and six months ended March 31, 2026, respectively, and 80.1% and 79.9% of our consolidated GMV for the three and six months ended March 3…
Purchase model transactions are a smaller proportion of our consolidated GMV, representing 19.1% and 19.1% of our consolidated GMV for the three and six months ended March 31, 2026, respectively, and 19.9% and 20.1% of our consolidated GMV for the three and six months ended March 31, 2025, respectiv…
Notes to the Unaudited Condensed Consolidated Financial Statements - (Continued)
Cost of goods sold (excludes depreciation and amortization). Cost of goods sold decreased $4.1 million, primarily due to improved margins from robust buyer demand optimized through our multi-channel approach in our RSCG reportable segment, as well as lower transaction processing fees, during the thr…
Other operating expenses, net. Other operating expenses, net decreased $0.2 million due to acquisition-related costs incurred during the three months ended March 31, 2025, in connection with the Auction Software acquisition; see Note 3 - Acquisitions.
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