A 10-Q is a quarterly report that public companies must file with the Securities and Exchange Commission (SEC). The report provides an update on the company's financial performance and operations for the quarter. The 10-Q is similar to the 10-K, which is an annual report, but it's shorter and less detailed.
The 10-Q is less detailed than the 10-K. It doesn't include the company's financial statements or management's discussion and analysis. The 10-Q also doesn't include information on the company's business, risk factors, or executive compensation.
A 10-Q includes information on the company's financial performance and operations for the quarter. This includes information on revenue, expenses, cash flow, and other measures of financial performance. The information requested on the company's operations includes new products or initiatives, changes in strategy, and other developments.
A 10-Q is filed every quarter, within 45 days of the end of the quarter. For example, Q1 ends on March 31 for a company with a December 31 year-end. The company would therefore file its 10-Q for the first quarter of the year by May 15.
If a company doesn't file a 10-Q, it may be subject to penalties from the SEC. These can include fines, suspension of trading, and delisting from exchanges. In addition, the company's auditor may resign, and its lenders may call in loans.