What AIR does
US-listed companies worth roughly $500 million to $15 billion, reviewed at the end of each month. Every day, AIR reads their public record: SEC filings, regulatory decisions, quarterly reports. It measures what each company has actually done, measures how much the market is paying attention, and highlights where the distance between the two is widest — the Discovery Gap. AIR reads new filings and refreshes every score each trading day; the company universe is reviewed at the end of each month. Alerts tell you when a company you follow moves.
Five perspectives, one score
The AIR Score™ (0–100) looks at a company from five independent angles: business quality, valuation, documented progress, market behaviour, and risk. Each perspective is shown in plain words on every company page, together with the evidence behind it. We publish our reasoning, not our formula.
How AIR scores
- Fundamentals
- How the business is doing on its own reported US-GAAP numbers — growth, margins, cash generation, balance-sheet strength, capital efficiency and dilution — compared with sector peers. Source: SEC XBRL financial statements.
- Value
- How the shares are priced against sector peers, against the company's own recent history, and against a simple cash-flow estimate, using the filing numbers and the current price. AIR shows this as a band, never as a target price. Source: SEC XBRL financial statements and end-of-day prices.
- News flow
- What the company has documented recently: material 8-K events (contracts, deals, results, leadership changes) and FDA approvals, weighted by recency and type. A language model's reading of each 8-K helps classify whether it is positive or negative. Filings, not press or social media. Source: SEC EDGAR 8-K filings and FDA approvals.
- Momentum
- The longer-term market read: the trend in end-of-day prices, strength against the market and the sector, and trading volume over roughly the past three to twelve months. It is shown, never used to rank the Shortlist. Source: End-of-day prices.
- Safety
- The risk side: leverage, liquidity, cash runway, dilution, revenue and margin swings, company size and pre-commercial status, negative 8-K events (including legal and regulatory ones), and share-price drawdown and volatility. Higher means fewer of those risk markers. Source: SEC XBRL financial statements, SEC EDGAR 8-K filings and end-of-day prices.
- Discovery Gap
- How far documented progress (News flow) runs ahead of market attention. Attention is measured from institutional holdings reported to the SEC, trading volume, price behaviour and how richly the shares are valued — not from social media or analyst ratings. Source: SEC EDGAR filings (8-K and 13F), FDA approvals and end-of-day prices.
AIR reads three public sources: SEC EDGAR filings, FDA drug approvals and end-of-day prices. Every score is recomputed nightly by fixed, versioned formulas; a language model writes the explanations and helps classify whether each 8-K is positive or negative.
Honest by design
Every company carries a confidence rating. When a piece of the picture is missing, the page says “not enough data yet” — a gap is never filled with a guess.
What AIR is not
- AIR does not issue price targets or personalized advice.
- AIR does not predict returns or promise that attention will follow progress.
- AIR is not a portfolio tracker, a brokerage, or a trading tool.
AIR provides research and information. Investing involves risk, including loss of principal. Decisions are yours.
We show our method. We keep our record.