Straight answers.

No. Unhedged generates AI analysis of public SEC filings and should not be treated as personal investment advice, a recommendation, or a solicitation to buy or sell any security. It is an analyst-productivity tool, not a regulated advisor.

The hard financial numbers in every brief — revenue, net income, EPS, total assets, total debt — come directly from the SEC's XBRL structured-data API. These are the same numbers the filer submitted to the SEC. They are not generated by an AI model and cannot be hallucinated.

The qualitative analysis — management tone, evasion detection, red flags, verdict — is produced by an AI model and is subject to the usual AI limitations. Every brief carries the disclaimer: verify against source documents before acting. Treat it as a research companion, not as a replacement for your own judgment.

Two public, authoritative sources, both free and both maintained by the SEC:

• SEC EDGAR — the full text of every 10-K, 10-Q and 8-K ever filed.
• SEC XBRL company-facts API — structured financial figures in a machine-readable format, submitted by the filer themselves.

Earnings call transcripts come from Financial Modelling Prep, which licenses them from public earnings-call recordings.

Three filing types are supported today:

• 10-K — annual reports. Full risk-factor analysis + MD&A.
• 10-Q — quarterly reports. Same structure, shorter horizon.
• Earnings calls — full transcript including Q&A. This is where evasion detection lights up.

8-Ks are monitored by the watchlist for email alerts, but are not yet analysed individually.

Four concrete differences:

• Evasion detection. Every analyst Q&A response is classified as direct / deflected / avoidedagainst the question actually asked. ChatGPT will summarise. Unhedged scores.
• XBRL numbers. Hard financials come from SEC structured data. ChatGPT cannot read XBRL and will guess numbers from prose — a hallucination risk we explicitly designed around.
• Validated prompts. Our prompts are tested across healthy, struggling, and distressed company profiles (AAPL, INTC, BYND). Outputs are calibrated — no false-positive "red flags" on healthy names.
• Structured output. Every brief has the same fields (bull case, bear case, red flags with evidence, verdict with conviction) so you can compare across filings side-by-side.

One analysis = one filing or earnings call for one ticker. Running AAPL's latest 10-K = 1. Running AAPL's earnings call = 1 more. Running INTC's 10-K = 1 more. Loading a past analysis from your history does not count.

No. Top-up credits carry over from month to month indefinitely. They do not reset with the monthly counter. If you buy 50 and use 30 this month, you start next month with 20 unused credits, plus your fresh 50 monthly allowance.

Yes. Stripe manages all subscriptions. You can cancel from your account at any time; you keep Pro access until the end of the current billing period. Top-up credits you already purchased don't disappear — they remain on your account even if you cancel and resubscribe later.

Every US-listed public company that files with the SEC. That's roughly 8,000 tickers on NYSE, Nasdaq, and the OTC markets — everything from mega-caps (AAPL, MSFT) to micro-caps and recent IPOs.

Unhedged analyses 10-Ks, 10-Qs, and earnings call transcripts. Foreign private issuers that file only 20-F or 6-K aren't covered yet. If a ticker fails, check the spelling first — brand-new IPOs sometimes take a few days to appear in EDGAR's ticker index.

Still stuck, or want a ticker we don't cover? Email hello@theunhedged.com and we'll take a look.