While most companies expect to stay quarterly, the real story is much more nuanced.
The SEC’s proposal to allow optional semiannual reporting has sparked a practical question for public company reporting teams: would fewer required filings actually reduce reporting burden, or would market expectations keep companies tied to a quarterly rhythm?
To better understand how practitioners are evaluating the potential shift, Pro Groups surveyed SEC reporting and SOX compliance professionals across company sizes, seniority levels, and industries.
At the surface level, the findings point clearly toward the status quo: 76% of respondents said their companies would either remain quarterly or evaluate semiannual reporting before ultimately choosing to stay quarterly. And even if companies did move away from Form 10-Q filings every quarter, 95% of respondents expect their companies would still publish quarterly performance updates, most often through Form 8-K.
But when you look beneath the surface-level results, the findings get more interesting:
- Company size changes the value proposition. Micro-cap respondents were more open to semiannual reporting, with 57% expecting their company would likely adopt it, while only 19% of mid-cap and 11% of large-cap respondents expect their companies to elect semiannual reporting.
- Role shapes how the tradeoffs are viewed. C-suite leaders were more likely to focus on efficiency and cost savings, while Directors were more focused on investor expectations, audit readiness, and internal control discipline.
- Industry norms may influence adoption. Some sectors appear more anchored to quarterly reporting, while others showed more openness to potential change, suggesting adoption could move unevenly across the market.
The takeaway: optional semiannual reporting may offer flexibility, but adoption will likely depend on more than regulatory permission. Investor expectations, peer behavior, reporting discipline, and industry norms may ultimately determine whether companies are willing to move.
Watch experts discuss the survey results
Hear Steve Soter, Jonathan Gregory (Hershey), and Alan Wilson (WilmerHale) discuss what these findings could mean for public company reporting teams, investor communication, and the practical realities of changing reporting cadence.
Read the full report
Explore the full survey results, including deeper cuts by company size, leadership role, and industry sector.
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