Two plans

Free is 5 briefs a quarter, and it does not expire. Pro is 150 a quarter for $40, or $140 a year.

Briefs

• Briefs you can generate: Free, 5 a quarter; Pro, 150 a quarter. A brief is one company, one quarter, built from that quarter's filing.
• The Top Five: Free, Included, free; Pro, Included, free. The five largest US companies, briefed by us each quarter.
• Failed generations: Free, Never charged; Pro, Never charged. If the filing can't be found or the brief can't be built.
• Quarters you can reach back to: Free, 2009 onward; Pro, 2009 onward. As far as SEC filings go, which starts in 2009. The plan does not cut that shorter.
• Briefs kept in your archive: Free, Last 20; Pro, Last 200.

Inside a brief

• The written brief: Free, Included; Pro, Included. Signal, financials, segments, risks, management, news, and the scorecard.
• Forward outlook: Free, Included; Pro, Included. Guidance against consensus, and the questions analysts asked on the call.
• The Setup: Free, Pro only; Pro, Included. Three scenarios for next quarter, what would confirm each one, and what would move the grade.
• Hindsight: Free, This quarter only; Pro, Six quarters. Grades, revenue and what the stock did since each brief.
• Save any brief as a PDF: Free, No; Pro, Yes.

IPO filings

• The loss, line by line: Free, Included; Pro, Included. How much of an S-1's headline loss is an accounting mark rather than cash, from the filing's own income statement.
• Balance sheet, commitments and footnotes: Free, Pro only; Pro, Included. The capitalization table before and after the offering, payments due by year, and the filing's own sentences on debt, lock-ups and control.
• Amendment redline: Free, Pro only; Pro, Included. Every figure and risk factor that changed between one S-1 filing and the next.

Following companies

• Watchlist size: Free, Up to 10; Pro, Unlimited.
• Briefs generated for you: Free, No; Pro, Automatic. A brief waiting the morning after anything on your watchlist reports.
• Earnings calendar: Free, This week; Pro, Nine weeks. Free shows the week in front of you; Pro opens the four weeks either side.

Billing

• How you are charged: Free, Not charged; Pro, every three months or once a year. Every three months, or once a year.
• Cancelling: Free, Nothing to cancel; Pro, Any time. Through Stripe's own portal. You keep access to the end of the period you paid for.
• Payment handled by: Free, —; Pro, Stripe.

Before you decide

Why 150 and not unlimited?

Because a brief costs us money every time. Unlimited would mean charging more or writing worse ones. 150 a quarter is eight companies a week for a whole season, and almost nobody reads that much.

What happens if a brief fails?

Nothing is deducted. The count only moves once a filing has been located and the brief has been written. A ticker that doesn't exist, a quarter the company never filed, or an outage on our side all cost you nothing.

Do you cover companies outside the US?

Only if they file with the SEC, since that filing is what a brief is built from. Plenty of foreign companies do, because they list here too. A company traded only in London or Tokyo doesn't, so we can't cover it.

Is this investment advice?

No. A brief describes what a company reported and grades the quarter. It doesn't tell you what to buy, and the grade is a read on the quarter rather than a price target.

A brief describes what a company reported and grades the quarter. It is not investment advice, and the grade is a read on the quarter rather than a price target.

Underline · Earnings calendar · IPO filings · How a brief is built · Plans