Form 10-Q
The quarterly financial report that U.S. public companies must file with the SEC.
What is Form 10-Q?
Form 10-Q is the quarterly financial report that U.S. public companies are required to file with the SEC within 40 days of the end of each of the first three fiscal quarters (the fourth quarter is covered by the annual 10-K). Unlike the annual 10-K, the financial statements in a 10-Q are unaudited — reviewed but not fully audited by the company's external auditors — making them more timely but subject to potential revision. The 10-Q includes condensed financial statements (income statement, balance sheet, cash flow statement), management's discussion and analysis (MD&A) of financial condition and results, legal proceedings disclosures, and any material changes to risk factors. Together, the three 10-Qs and one 10-K provide investors with quarterly visibility into a public company's financial performance.
Example
Apple files three Form 10-Q reports per fiscal year (for Q1, Q2, and Q3 ending December, March, and June) and one annual 10-K. When Apple filed its Q2 FY2025 10-Q in May 2025, analysts compared the unaudited quarterly revenue, gross margin, and segment results directly to the prior quarter's 10-Q and year-ago period to assess earnings trajectory — all data freely accessible through SEC EDGAR.
Source: SEC — Form 10-Q