At Calcbench we specialize in analyzing ‘interactive’ SEC filings…filings that are tagged using the machine readable XBRL format. These filings largely consist of annual and quarterly reports from most every company traded in the U.S.
However, a common criticism of the SEC’s XBRL system is that earnings press releases are not required to be tagged in XBRL. These press releases are documents that give an overview of a company’s results for the period, and they often come out days or even weeks before the full quarterly or annual report.
This means that people relying on interactive data often times have to wait a little while to get financial information that has already been released by the company. We’re working to change that.
Starting this month we are incorporating non-interactive data from earnings press releases into our platform.
To start, we’ll be displaying press release data in our Company in Detail page. You’ll see it marked as ‘Preliminary’, because it is not from a formal XBRL document. When the 10-K or Q arrives, the preliminary column will be replaced with the complete interactive data.
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