Investing in AI
Prototype · illustrative data · fictional companiesNot investment research · not for distribution

AI Signal Gauge · standalone page

Meridian Workflow Software (MRDN)

Filings-based rating of whether a company’s AI is earning its cost · quarterly · two cohorts

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AI Signal Gauge for MRDN

Application

Talking

Application cohort · quarterly · as of 10-Q filed 7 Aug 2026

Claim–reality divergence · SevereAI named 41 times in the latest earnings release, up from 9 two years ago, with specificity falling. Over the same eight quarters, index-adjusted gross margin fell 4 points against a cohort that rose 6.

Factor checklist

next input: 10-K, Feb 2027
  • Gross margin vs cohortindex-adjusted trajectory
    58% · cohort 55% · 8q trend −4 pts vs cohort +6▼ worseningWhat would change this: Two consecutive quarters of index-adjusted margin expansion. First test: 10-Q, Nov 2026.
    ✕Against
  • Inference Efficiency RatioAI revenue ÷ inference cost
    Neither AI revenue nor inference cost is broken outWhat would change this: A segment or cost-of-revenue breakout in the FY26 10-K.
    ○Not disclosed
  • Workflow positionItem 1, published rubric
    Assistive · summarisation and drafting features→ flatWhat would change this: Item 1 describing AI in an execution or decision path. Next read: 10-K, Feb 2027.
    ✕Against
  • Claim–reality divergenceclaims vs. financial movement
    Severe · high, rising, unspecific claims against falling relative margin▼ worseningWhat would change this: Claim intensity falling or margin recovering for two quarters.
    ✕Against
  • Propagation riskItem 1A, partial
    Boilerplate · low discriminationWhat would change this: Partial factor. Shown, lightly weighted.
    –Neutral
  • Hidden reasoning activitynot observable from disclosure
    Not measured
    Not measured
  • Enterprise ROInot disclosed at company level
    Not measured
    Not measured
Ranked within the Application cohort only · greyed rows are unmeasurable by designMethod →

Reality Bar · AI Infrastructure & Software ETF

illustrative · 100 holdings

Compounding
11
Earning
19
Neutral
23
Leaking
8
Talking
14
Insufficient disclosure
25

Coverage, stated

41 of 60 demo names fully scored · 19 return insufficient disclosure, 17 of them in the application cohort. The number is published on the method page and moves as disclosure improves.

What this rating is not

It does not measure tokens, cost per task or hidden reasoning. It measures what public filings allow: disclosed cost against a provider price index, where AI sits in the business, and whether the claims match the numbers.