The 10-Q report is crucial for providing timely insights into a company’s financial health between the annual 10-K filings. It includes unaudited financial statements and management’s commentary on recent operations, offering investors and analysts a closer look at quarterly trends. Traders and investors use 10-Q reports to assess a company’s short-term performance, profitability, and any issues that may impact future performance. The 10-Q is often used in conjunction with earnings reports and other quarterly disclosures to form a complete picture of a company's health.