STKS — what changed in the latest 10-Q
A section-by-section comparison of STKS'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 · 2026-05-06 vs the prior 10-Q · 2025-11-06
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +68 | −72 | ~14 | 21 |
| Market risk (Item 3) | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Controls & procedures | Text added/removed | +1 | −1 | ~1 | 1 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Risk factors | Some risk factors updated | +3 | 0 | ~1 | 0 |
| 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 · 2026-05-06
We opened our first restaurant in January 2004 in New York, New York. We currently own, operate, manage, license or franchise 157 venues, including 31 STKs, 85 Benihanas, 23 Kona Grills and 12 RA Sushis in major metropolitan cities in North America, Europe and the Middle East, and 6 food and beverag…
We intend to open six to ten new venues in 2026. In January 2026, we opened a Company-owned Kona Grill restaurant in San Antonio, Texas, a relocation of an existing Kona Grill restaurant.
In February 2026, we converted a franchised Benihana restaurant to a Company-owned Benihana restaurant.
During the second quarter of 2026, we converted a franchised Benihana Express restaurant to a Company-owned Benihana Express restaurant and terminated an agreement for a franchised Benihana Express restaurant.
There are currently two Company-owned STK restaurants and one Company-owned Benihana restaurant under construction in the following cities:
Text removed vs the prior filing · source: 10-Q · 2025-11-06
●Our F&B management services are marketed as ONE Hospitality and include developing, managing and operating restaurants tailored to the specific needs of high-end hotels and casinos. For those restaurants and venues that are managed, licensed or franchised, we generate management fee revenue and fra…
We opened our first restaurant in January 2004 in New York, New York. We currently own, operate, manage, license or franchise 157 venues including 30 STKs, 85 Benihanas, 23 Kona Grills and 13 RA Sushis in major cities in North America, Europe, Latin America and the Middle East and 6 F&B venues opera…
We intend to open five to seven new venues in 2025. We have opened the following restaurants to date in 2025:
●Owned Benihana restaurant in San Mateo, California (March 2025)
●Owned STK restaurant in Los Angeles, California (May 2025 - relocation of our existing STK Westwood restaurant)
Controls & procedures
Text added vs the prior filing · source: 10-Q · 2026-05-06
There have been no changes in our internal control over financial reporting that occurred during the quarter ended March29, 2026 that have materially affected, or are reasonably likely to materially affect, the Company’s internal control over financial reporting.
Text removed vs the prior filing · source: 10-Q · 2025-11-06
On May 1, 2024, we completed the Benihana Acquisition and have implemented new processes and internal controls to assist us in the preparation and disclosure of financial information. Given the significance of the Benihana Acquisition, we have excluded the acquired Benihana business from our assessm…
Risk factors
Text added vs the prior filing · source: 10-Q · 2026-05-06
Geopolitical instability and armed conflict involving Iran could adversely affect our business, financial condition and results of operations.
Ongoing or future armed conflict, heightened geopolitical tensions, or military hostilities involving Iran, including the full or partial closure of the Strait of Hormuz or restricted access to the Red Sea, damage to energy production, transport facilities or infrastructure, or retaliatory actions b…
In addition, any conflict involving Iran could result in further regulatory constraints, sanctions compliance obligations, limitations on cross-border transactions or restrictions on access to certain markets, counterparties or financial institutions. These factors may increase our operating costs, …
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