TRNS — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-04

• Total operating expenses were $27.0 million in the first quarter of fiscal year 2027, an increase of $6.5 million or 31.9% when compared to the prior fiscal year first quarter. Included in operating expenses during the first quarter of fiscal year 2027 were more than $2.5 million of incremental oper…

• customer base amortization, depreciation and acquisition-related costs, increased stock-based compensation and executive transition costs. As a percentage of total revenue, operating expenses were 29.1% in the first quarter of fiscal year 2027, up 2.3% from 26.8% in the first quarter of fiscal year …

• Net income was $1.3 million in the first quarter of fiscal year 2027 versus net income of $3.3 million in the first quarter of fiscal year 2026. The decrease was primarily due to a $6.5 million increase in operating expenses, including an increase in amortization of acquisition-related intangible as…

• The following table presents, for the first quarter of fiscal year 2027 and fiscal year 2026, the components of our Condensed Consolidated Statements of Income:

• THREE MONTHS ENDED JUNE 27, 2026 COMPARED TO THREE MONTHS ENDED JUNE 28, 2025 (dollars in thousands):

Text removed vs the prior filing · source: 10-Q · 2026-02-03

• Total operating expenses were $25.2 million in the third quarter of fiscal year 2026, an increase of $7.6 million or 43.2% when compared to the prior fiscal year third quarter. Included in operating expenses during the third quarter of fiscal year 2026 were incremental operating expenses from the ac…

• Net loss was $1.1 million in the third quarter of fiscal year 2026 versus net income of $2.4 million in the third quarter of fiscal year 2025. The decrease was primarily due to an increase in amortization of acquisition-related intangible assets, stock-based compensation, CEO transition costs and in…

• The following table presents, for the third quarter of fiscal year 2026 and fiscal year 2025, the components of our Condensed Consolidated Statements of Income:

• Third QUARTER ENDED December 27, 2025 COMPARED TO Third QUARTER ENDED December 28, 2024 (dollars in thousands):

• Total revenue was $83.9 million, an increase of $17.1 million, or 25.6%, in our fiscal year 2026 third quarter compared to the prior fiscal year third quarter.

Text added vs the prior filing · source: 10-Q · 2026-08-04

• Under the Credit Agreement, effective as of July 29, 2025, at our option, we are permitted to borrow from the Credit Facility at a fixed base rate or the variable daily simple SOFR plus a margin. Any swingline loan will bear interest at the

• fixed base rate plus a margin. The applicable margin is based on our then-current leverage ratio. The applicable margin ranges from 0.00% to 0.75% for base rate loans and 1.00% to 1.75% for SOFR loans. Our weighted average interest rate for the first quarter of fiscal year 2027 for the Credit Facili…

• Approximately 94% and 90% of our total revenues for the first three months of fiscal year 2027 and 2026, respectively were denominated in U.S. dollars, with the remainder primarily denominated in Canadian dollars and Euros. A 10% change in the value of the Canadian dollar to the U.S. dollar and the …

Text removed vs the prior filing · source: 10-Q · 2026-02-03

• Under the Credit Agreement, effective as of July 29, 2025, at our option, we are permitted to borrow from the Credit Facility at a base rate or the variable Daily Simple SOFR (subject to a 1.00% floor), in each case, plus a margin. Our interest rate margin is determined on a quarterly basis based up…

• Approximately 93% and 92% of our total revenues for the first nine months of fiscal year 2026 and 2025, respectively were denominated in U.S. dollars, with the remainder denominated in Canadian dollars and Euros. A 10% change in the value of the Canadian dollar to the U.S. dollar and the Euro to the…

• We utilized short-term foreign exchange forward contracts to reduce the risk that future earnings denominated in Canadian dollars would be adversely affected by changes in currency exchange rates. We did not apply hedge accounting and therefore the net change in the fair value of the contracts, whic…

Text added vs the prior filing · source: 10-Q · 2026-08-04

• Conclusion Regarding the Effectiveness of Disclosure Controls and Procedures. Under the supervision and with the participation of our management, including our Chief Executive Officer and Chief Financial Officer, we evaluated the effectiveness of our disclosure controls and procedures as of June 27,…

• Because of the material weaknesses in internal control over financial reporting described in Item 9A, "Controls and Procedures," of our Annual Report on Form 10-K for the year ended March 28, 2026, management concluded that our disclosure controls and procedures were not effective as of June 27, 202…

• Notwithstanding the identified material weaknesses, management believes that the condensed consolidated financial statements included in this Quarterly Report on Form 10-Q fairly present, in all material respects, the Company's financial condition, results of operations and cash flows for the period…

• Changes in Internal Control over Financial Reporting. As previously reported in the Form 10-K for the year ended March 28, 2026, management developed a remediation plan to address the material weaknesses in the Company's internal control over financial reporting. During the quarter ended June 27, 20…

Text removed vs the prior filing · source: 10-Q · 2026-02-03

• Conclusion Regarding the Effectiveness of Disclosure Controls and Procedures. Our principal executive officer and our principal financial officer evaluated our disclosure controls and procedures (as defined in the Securities Exchange Act of 1934, as amended (the “Exchange Act”), Rules 13a-15(e) and …

• Changes in Internal Control over Financial Reporting. The Company's internal controls over financial reporting included those inherited from the Martin acquisition, which have been evaluated by management and supplemented where deemed appropriate. Our management, with the participation of our princi…