Smaller reporting company

The U.S. Securities and Exchange Commission divides reporting companies, those that file periodic reports under the Securities Exchange Act of 1934, into different categories based on size, among other factors. Smaller companies have less stringent reporting obligations, provide less historical financial information, are exempt from some provisions of the Sarbanes–Oxley Act of 2002, and have more time to file their reports.

Source: Wikipedia — Smaller reporting company (CC BY-SA 4.0)