What is SEC Form 10-Q?
SEC Form 10-Q is a quarterly performance report that public companies must submit to the SEC.
How Does SEC Form 10-Q Work?
The 10-Q is just one of many forms a company that is publicly traded in the U.S. must file with the SEC. The main components include:
Management's discussion and analysis of the company financial statements
Financial statements for the quarter (unaudited)
Notes to the financial statements
Why Does SEC Form 10-Q Matter?
The 10-Q provides an intermittent snapshot of how a company did over the previous three months. This allows investors to keep tabs on a company's progress during the year rather than being subjected to surprises at the end of the fiscal year, when the company files its 10-K.
SEC regulations S-X and S-K (as well as the instructions to the 10-Q form itself) dictate the specific elements, presentation and disclosure requirements of the 10-Q. Companies typically file their 10-Qs within 45 days of the end of the quarter, though this varies with the size of the company in accordance with SEC rules.