Start with what changed.
Compare two filings. Look for new exposures, more specific warnings, and language the company removed.
A broad supply-chain warning becomes a specific discussion of tariffs and costs.
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The dRisk learning guide
Companies tell you what could affect their business. Learn to spot what they say differently—and turn a wall of disclosure into questions worth asking.
Learn what to look for ↓From reading to understanding
Compare two filings. Look for new exposures, more specific warnings, and language the company removed.
A broad supply-chain warning becomes a specific discussion of tariffs and costs.
One edit is a clue. Several years of disclosures give you more context about how the company describes its challenges.
Use Risk History to move from a single filing to a timeline of disclosures.
Read the highlighted passages and open the original SEC filings. Use the AI summary as a starting point for your research.
Every conclusion should lead you back to the company’s own words.
Try it with a company you know
Trace Apple’s disclosures from 2022 to 2025. Explore trade, regulation, and competition—then inspect the passages behind the story.
Explore Apple’s case study →Free to explore. No account required.
2022 · Establish the baseline
2023 · Compare the wording
2024 · Investigate added detail
2025 · Connect the story
10-K and 20-F reports generally discuss risks broadly. A 10-Q may include only updates or refer back to an annual report.
Word counts measure disclosure length. The Disclosure Change Score measures disclosure changes, not investment risk or expected returns.
AI summaries can make mistakes. Verify important details using the current and previous SEC filing links in each report.
Explore a sample report, then choose Pro with a money-back guarantee.