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Investing in AI · this week’s signal

The company that says “AI” 41 times a quarter

Every quarter we score the gap between what a company says about its AI and what its filings show. This week’s widest gap belongs to a workflow-software name whose AI mentions quadrupled while its margin, adjusted for falling model prices, slipped four points against a rising cohort.

AI Signal Gauge for MRDN

Application

Talking

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

Headline factors

3 of 7

Gross margin vs cohort
58% · cohort 55% · 8q trend −4 pts vs cohort +6▼ worsening
✕Against
Inference Efficiency Ratio
Neither AI revenue nor inference cost is broken out
○Not disclosed
Workflow position
Assistive · summarisation and drafting features→ flat
✕Against

Full checklist with “what would change this” on every rowOpen the full rating →

Next week: an infrastructure name whose rating is capped by a single accounting choice.

Rated quarterly from public filings. Ratings compare companies within their cohort only. Illustrative data on a fictional company.