XBP — what changed in the latest 10-Q
A section-by-section comparison of XBP'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 · 2026-08-14 vs the prior 10-Q · 2026-05-15
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +85 | −45 | ~36 | 39 |
| Market risk (Item 3) | Text added/removed | 0 | 0 | ~1 | 0 |
| Controls & procedures | Text added/removed | 0 | 0 | ~5 | 5 |
| Legal proceedings | Text added/removed | 0 | 0 | ~1 | 0 |
| 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 · 2026-08-14
In the second quarter of 2026, the Company committed to a restructuring program across its European operations. An operating footprint carrying more legal entities and small business units than the current scale of the business supports led management to approve two workstreams: consolidating smalle…
and management layers. The program affects 245 employees across multiple locations, is expected to be substantially complete by December 31, 2026, and gave rise to restructuring charges of $5.0 million in the three and six months ended June 30, 2026.
During the three months ended June 30, 2026, management with the requisite authority committed to a plan to sell the Company's Baronsmede property in Egham, United Kingdom, which has historically been used for management team purposes. The Company engaged a commercial real estate broker, has activel…
Applied Workflow Automation: the Applied Workflow Automation segment provides services powered by intelligent, AI-enabled workflows that generate outcomes for clients’ systems. Revenue primarily stems from transactions processed and includes payment processing, data capture, analysis, decisioning, d…
The cost of revenue in the Applied Workflow Automation segment decreased by $0.5 million, or 0.3%, primarily due to reduced cost resulting from completed projects and optimization efforts and partially offset by the inclusion of the newly acquired entity in the successor period within the Applied Wo…
Text removed vs the prior filing · source: 10-Q · 2026-05-15
Applied Workflow Automation: the Applied Workflow Automation segment provides services powered by intelligent, AI-enabled workflows that generate outcomes for clients’ systems. Revenue primarily stems from
transactions processed and includes payment processing, data capture, analysis, decisioning, distribution and transformation across industries and the public and private sectors, primarily in Americas and Europe, and increasingly in Asia. The Applied Workflow Automation segment includes the Company’…
In the Applied Workflow Automation segment, the decrease was primarily attributable to reduced cost resulting from completed projects and optimization efforts. Cost of revenue to the Applied Workflow Automation segment decreased by $3.1 million, or 2.1%.
The decrease in cost of revenues as a percentage of revenue on a consolidated basis was primarily due to a change in the revenue mix and executed optimization efforts. Cost of revenue for the three months ended March 31, 2026 was 77.1% of revenue compared to 78.5% of revenue for the three months end…
Selling, general and administrative expenses (“SG&A expenses”) increased by $20.6 million, or 92.3%, to $42.8 million for the three months ended March 31, 2026, compared to $22.3 million for the three months ended March 31, 2025. The increase was primarily attributable to inclusion of newly acquired…
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