Smaller reporting company
Also called SRC.
A company small enough, by public float or revenue, to use the SEC's scaled-down disclosure rules.
Generally, a company with a public float under $250 million, or with annual revenue under $100 million and a public float under $700 million. Source 1
Smaller reporting companies have some lighter requirements. For example, they don't have to report risk-factor changes in their 10-Qs. Source 2