Equity52 · the equity research workspace for private investors. Your research in one place. AI that has read it.
For investors who read the filings, build their own valuation and form their own thesis. Filings, models and notes live together, and the AI answers from your work, citing its sources.
Private beta · access by requestResearch software, not investment advice.
MRDN_model_v7_FINAL.xlsx
| FY24 | FY25 | FY26E | |
|---|---|---|---|
| Revenue | 4,418 | 4,862 | 5,251 |
| Gross margin | 41.6% | 41.8% | 42.0% |
10-K · FY2025 · p.48
MRDN — thesis
- Services mix rising keeps gross margin ≥ 42%
- Re-check margin after Q3
AskIn context
Is my 42.0% gross margin assumption still reasonable?
Your model assumes 42.0%. FY2025 came in at 41.8%, and management guided 41–43% on the Q2 call: inside guidance, with little room for a mix shift.
10-K p.48Q2 callYour DCFYour note
Filings AnalystResearching Lindqvist Pumps · LQVP
- Sources
- Financials
- Notebook
Agent Desk · in development
- Built on SEC filings
- XBRL-tagged statements
- Every figure source-linked
- AI answers that cite their sources
How it works
Everything comes together.
Follow one figure, gross margin, from a scattered desk to a connected one.
01 · Today
Your research lives in a dozen places.
A filing in one tab, a model in another, notes somewhere else — and an AI that has never seen any of it.
02 · The thread
It all turns on the same few numbers.
The margin in the filing is the cell in your model, the assumption in your valuation, the line in your thesis.
03 · One workspace
Now every piece is connected.
Filing, model, valuation and notes, open side by side and linked to each other.
04 · AI with context
An AI that has read your work.
Ask about a number. It already knows the filing, your model and your thesis, and cites them.
Product view · illustrative data · Meridian Systems (MRDN) is invented
Provenance
Click any number.
Every figure keeps its source. Choose one and the line it was filed on opens beside it. Ask about it, override it or pin it; the filed value is never lost.
| Line item | FY2025 | FY2024 | FY2023 |
|---|---|---|---|
| Revenue | |||
| Cost of revenue | |||
| Gross profit | |||
| Research and development | |||
| Selling, general and administrative | |||
| Operating income |
Cost of revenueFY2025$2,829M
Source: 10-K · FY2025 · p.48 · CostOfRevenue
- XBRL concept
- CostOfRevenue
- Filing line
- “Cost of revenues”
- Column
- Year ended 2025
Nothing changes without you.
Agent DeskIn development
Your own research team.
Hand a job to an analyst. It works in your workspace and brings back what it found, with sources, for you to judge. Use ready-made jobs, adapt them, or write your own.
Agent Desk is in development and may not be included in early beta access.
Who is on the desk
Filings AnalystCompany Watch
“Tell me when something changes at the companies I care about.”
When filings land
Earnings AnalystEarnings Monitor
“Get me ready before earnings, and tell me what changed after.”
Around each report
Valuation AnalystValuation Gap Monitor
“Tell me when my model and the market disagree for a reason.”
Weekly
Numbers AnalystModel Integrity Check
“Tell me when my own numbers stop being trustworthy.”
When your model changes
Qualitative AnalystManagement Record
“Track what management promised against what they delivered.”
After each report
Assumption ChallengerYour own briefYours
“Test my valuation inputs against the latest filings, and tell me which one the evidence no longer supports.”
On request
Write your ownYour brief, your tools, your schedule.
Design preview · in development · schedules are illustrative
Planned · a new research job
1Assign
To Filings Analyst
Research Lindqvist Pumps (LQVP) for me: what it sells, how it makes money, how its margins have moved, and what the latest 10-K says about risk.
- May use
- SourcesFinancialsNotebook
- Runs
- Once, tonight
2Work
Filings AnalystWorking on LQVP
- SourcesRead the FY2025 10-K96 pages
- SourcesRead the last two 10-QsQ1, Q2 FY26
- FinancialsPulled three years of statementsFY2023–FY2025
- NotebookWrote up what it found3 findings, each sourced
3Review
3 findings · LQVPBack to you · 07:12
“Three things worth your time. I’d start with the customer concentration.”
- Aftermarket parts are 38% of revenue10-K · FY2025 · p.7
- Gross margin rose from 31.2% to 34.0% in two yearsFinancials · FY2023–FY2025
- Two customers are 22% of revenue10-K · Risk factors · p.19
It keeps watch, too.
When a new filing touches your thesis, the finding arrives with its evidence and what it affects in your work.
Activity · today
- Filings AnalystRead 10-Q · Q3 FY26 · gross margin 39.6% vs your 42.0%Needs you
- Filings AnalystNew company · LQVP researched · 3 findingsReady
- Numbers AnalystMRDN_model_v7_FINAL.xlsx · every link checks outDone
- Earnings AnalystQ2 call read · guidance held at 41–43%Done
- Valuation AnalystWeekly check · no gap without a reasonDone
Filings Analyst · finding · 10-Q · Q3 FY26
39.6%Gross margin fell to 39.6%Your model assumes 42.0%
Hardware rose to 61% of revenue as services growth slowed.
Evidence: 10-Q · Q3 FY26 · MD&A · p.14
What it touches in your research
- Valuation · DCF · base caseGross margin input, behind $64.20 a share 42.0%
- Thesis · Mar 12Services mix rising keeps gross margin ≥ 42%
- Your noteRe-check margin after Q3
You make the call.
Agents do the research. You weigh the evidence and decide what changes.
Who it is for
One investor. A whole research team.
For private investors who read the filings, build the model and form their own thesis. Equity52 keeps that work together and puts an assistant inside it. It does not do your thinking for you, and it does not tell you what to buy.
What is inside
- Financial statements
- Standardized and as-reported income statements, balance sheets and cash flows, years deep.
- Source evidence
- Every figure links to the line of the filing it came from, so you can always check it.
- Valuation models
- Build your model with its assumptions beside the numbers they depend on.
- Notes and thesis
- Your reasoning, pinned to the figures and filings it is about — not lost in a document.
- AI with context
- Ask about any number. Answers draw on your filings, model and notes, and cite them, so you can check every one.
- Agent Desk
- In development: hand research jobs to ready-made analysts or ones you write. A new company to research, filings and earnings to watch, your model to check. Findings come back with their sources, and you decide what to keep.
Trust
What you can rely on.
Where the data comes from
Company filings with the SEC, and their XBRL-tagged statements.
How AI is used
Answers cite the filings, model and notes they draw on. AI can be wrong, so every citation is there to be checked.
Your edits are yours
AI reads your work and answers from it. Nothing in your model, notes or thesis changes without you.
Privacy and confidentiality
How your research is stored, processed and used will be set out on Data & Security as each point is confirmed.
Questions
Before you ask.
Who gets access, and how fast?
Equity52 is in private beta, and access is by request. A person reads every request and replies by email, either with an invitation or to say it is not the right time yet. Agent Desk is still in development and may not be included in early beta access.
What data and markets are covered?
Company filings with the SEC, such as the 10-K and 10-Q, with their XBRL-tagged financial statements.
How accurate is the AI, and what happens when it is wrong?
AI can be wrong, so it never has the last word. Every answer cites the filings, model and notes it used, so you can check it against the source, and nothing in your work changes unless you change it.
Is this investment advice?
No. Equity52 is research software, not an investment adviser or broker-dealer. It does not pick stocks or tell you what to buy or sell; it helps you do your own research.
Do the research yourself. Not by yourself.
Equity52 doesn’t pick stocks or hand you conclusions. It keeps your work tied to its sources, and gives you a team to help with it.