Reads a filing the way an analyst does — footnotes first — and tells you what changed against the last one and against the sector.
Parses annual and quarterly reports, reconciles restated figures across periods, and separates what the numbers say from what the commentary claims.
Parses annual and quarterly reports, reconciles restated figures across periods, and separates what the numbers say from what the commentary claims.
const research = new NexusAgent({ role: 'analyst' });
const diff = await research.compare({
documents: ['10-K:2024', '10-K:2025'],
focus: ['revenue recognition', 'segment reporting']
});
Published examples, reproduced verbatim. This page does not call a model.
Compare this year's annual report with last year's and tell me what actually changed, not what the letter to shareholders says changed.
Three substantive changes, all in the notes rather than the statements. 1. Revenue recognition on multi-year contracts moved from ratable to milestone-based (note 2, accounting policies). This pulls roughly 4% of prior-year deferred revenue forward. Growth is 3 points lower than it appears on a like-for-like basis. 2. Segment reporting was reorganised — the previous "Platform" and "Services" split is now a single line. The prior year was restated to match, so the comparison in the release is consistent, but the earlier trend is no longer visible from this document alone. 3. The interest coverage covenant tightened from 3.0x to 3.5x on the amended facility (note 14). Coverage is currently 4.1x, so there is headroom, but it is narrower than a year ago. Every figure above cites its note. Nothing here is a valuation opinion — that is not something I do.