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- Material Weakness (worsened) — Material weakness in IT general controls continues into FY2026 despite original FY2025 remediation target; timeline extended one year and third-party advisors engaged.
revenue $622.9M, net income $126.7M. FactSet margin compresses 650bp; material weakness extends into FY26
Filed July 1, 2026 · Period ending May 31, 2026 · Compared to 10-Q Jul 3, 2025 · ~1 min read
Key Changes
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high
Operating margin fell to 26.7% from 33.2% (-650 bp) as $19.6M restructuring charges and $15.0M in new CEO equity costs offset 6.4% revenue growth.
MD&A: Operating Results verify on EDGAR → -
high
Material weakness in IT general controls persists beyond original FY2025 remediation target; company now targets FY2026 completion and has engaged third-party advisors and hired additional compliance personnel.
Controls and Procedures verify on EDGAR → -
high
Board expanded buyback authorization by $600M (no expiration) and company repurchased $506M of stock in nine months vs. $194M prior year, with $506M remaining available.
MD&A: Capital Allocation verify on EDGAR →
2 more material changes behind this preview — plus the full narrative summary, section-by-section diffs against the prior filing, and verbatim quotes with EDGAR citations.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jul 6, 2026 · How we verify