For
public companies complying with SEC reporting requirements, the 8K/earnings
press release is the tip of the spear. These financial results are preliminary,
unaudited, condensed and incomplete compared to the 'official' 10K and 10Q
reports. But they predate these more structured SEC filings, often by days or
weeks. They convey the company's key financial results, non-gaap metrics,
operating data and future guidance, including data not found in 10K’s or 10Q’s.
The 8K makes news and moves markets. So the timely processing, standardization
and analysis of 8K data is crucial to investors.
Drawing on 20 years of experience in financial data extraction,
XBRLogic (formerly AsReported.com) has developed a proprietary, fully-automated
process to standardize 8K financial statements against the XBRL US-GAAP
taxonomy. Key metrics and company guidance are planned for phase II. This process
leverages XBRLogic’s existing XBRL framework and cloud-based data model. The
application is currently in beta and expected to go live within two months. 8K
data will be available via JSON API within minutes of release for 80% of
companies. Other data vendors use labor-intensive data extraction that can take
hours depending on the queue.
A recorded
or live demo of the 8K processor is available on request.
