RHLDMEDIUM SIGNALREGULATORY10-K

RHLD reincorporated from Delaware to Nevada while delivering solid financial growth across key metrics.

The jurisdictional change from Delaware to Nevada suggests potential strategic restructuring, as companies often reincorporate in Nevada for its business-friendly legal environment and governance flexibility. The share count decline from 8.5M to 8.4M shares indicates modest share buyback activity, which typically signals management confidence in the business trajectory.

Comparing 2026-03-12 vs 2025-03-31View on EDGAR →
FINANCIAL ANALYSIS

RHLD demonstrated healthy operational performance with gross profit expanding 18.7% to $260.2M and operating income growing 13.2% to $143.3M. Operating cash flow strengthened meaningfully by 28.9% to $196.1M, indicating strong cash conversion despite higher SG&A expenses of $117.0M. The company modestly reduced R&D spending by 11.8% to $6.6M, suggesting either improved efficiency or a shift in innovation priorities.

FINANCIAL STATEMENT CHANGES
Operating Cash Flow
Cash Flow
+28.9%
$152.1M→$196.1M

Operating cash flow grew 28.9% — strong conversion of earnings to cash, healthy business fundamentals.

SG&A Expense
P&L
+26.2%
$92.7M→$117.0M

SG&A increased modestly — likely reflects growth-related hiring or sales expansion investment.

Gross Profit
P&L
+18.7%
$219.2M→$260.2M

Gross profit expanding — improving pricing power or product mix shift toward higher-margin offerings.

Operating Income
P&L
+13.2%
$126.5M→$143.3M

Operating income improving — cost discipline or growing revenue base absorbing fixed costs.

R&D Expense
P&L
-11.8%
$7.4M→$6.6M

R&D spending cut 11.8% — could signal cost discipline or concerning reduction in innovation investment.

LANGUAGE CHANGES
NEW — 2026-03-12
PRIOR — 2025-03-31
ADDED
(Exact name of registrant as specified in its charter) Nevada (Jurisdiction of Incorporation) 33-1246734 (I.R.S.
Directors and executive officers of the registrant are considered affiliates for purposes of this calculation but should not necessarily be deemed affiliates for any other purpose.
The number of common shares outstanding as of March 10, 2026 was 8,474,010 .
Market for Registrant s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 32 Item 6.
Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 43 Item 9A.
+7 more — sign up free →
REMOVED
(Exact name of registrant as specified in its charter) Delaware 33-1246734 (State or other jurisdiction of incorporation or organization) (I.R.S.
See the definitions of large accelerated filer, accelerated filer, smaller reporting company, and emerging growth company in Rule 12b-2 of the Exchange Act.
7262(b)) by the registered public accounting firm that prepared or issued its audit report.
The registrant s common stock began regular way trading on The Nasdaq Stock Market LLC on February 28, 2025.
As of March 25, 2025, there were approximately 8,525,998 shares of the registrant s common stock outstanding.
+7 more — sign up free →
ANALYZE ANY FILING FREE

See what changed in your portfolio's filings

500+ US-listed companies analyzed. Language delta, financial analysis, instant signal scoring.

Try Tracenotes free →