Fiscal.ai: Initiation of Coverage

GAII Intelligence defines the AI Research & Intelligence market as software that applies generative and agentic AI to the research process of professional investors: locating candidate securities, assembling and interrogating evidence, producing written analysis with traceable sources, and monitoring positions once held. Buyers are hedge funds, long-only managers, multi-manager platforms, family offices and allocators; the economic buyer is typically the chief technology officer, the head of research, or a portfolio manager with a technology budget.

Capabilities we treat as mandatory

• Evidence retrieval at scale: the ability to search and reason across regulatory filings, transcripts and news, and across documents the client supplies.
• Source traceability: every material claim in an output must be reachable back to the passage that supports it.
• Institutional data handling: a stated position on where client data goes, how long it is held, and whether it is used for model training.

Capabilities we treat as differentiating

• Persistent state: the system remembers a thesis, a coverage list or a position between sessions and acts on it without being re-prompted.
• Workflow surfaces: delivery inside the applications analysts already use — the spreadsheet, the research management system, email and messaging.
• Owned or exclusive content: material that a competitor cannot obtain by signing the same third-party contract.
• Published evaluation: a measured, disclosed accuracy methodology rather than an assertion of quality.

Fiscal.ai competes most directly with Daloopa for fundamentals and KPI data inside AI platforms, and with Koyfin and TIKR on terminal price. Against Bloomberg, FactSet and Capital IQ it trades depth for cost and speed.

The following are the capabilities and characteristics that, in our assessment, most distinguish Fiscal.ai within the AI Research & Intelligence market. Each is drawn from publicly documented product capability, published interviews with management, or independent hands-on review.

• Frontier-platform placement: Native data partner in ChatGPT for Financial Services (September 2026), Gemini Enterprise connector (August 2026) and official Claude connector (April 2026).
• Auditable data: Click-through to the source filing page for every value, with mapping and provenance flags.
• Speed: First-party earnings data within three to seven minutes of release for 13,000+ companies.
• KPI depth: Segment and KPI data for 2,500+ companies, plus fund letters from 750+ investors.
• Cost: Terminal from $39 a month billed annually and MCP at $780 a year.
• Partnerships: Two-way data partnership with Aiera; S&P, Zacks and Morningstar data; VanEck as strategic investor.

The following are factors that prospective clients should weigh, and areas where our public review did not find sufficient evidence to reach a settled view. Several are common across vendors at this stage of the market and are not specific to Fiscal.ai. We encourage prospective clients to raise each of them directly with the company; we have done the same, and will update this note as answers arrive.

• Enterprise controls: ISO 27001, SSO/SAML/SCIM, audit logs, residency options, a no-training commitment, zero data retention and MNPI controls were not located.
• Attestation detail: The trust centre states "SOC 2 compliant" without type or period; the Type II claim rests on a January 2025 announcement.
• Content scope: No expert or broker research, and client data ingestion has no current evidence.
• Customer evidence: Named bank and asset-manager customers appear on affiliate review sites, not company sources; no case studies.
• Product status: Recent reviews say the terminal no longer has built-in chat, with AI delivered through connectors; buyers should confirm.
• Pricing changes: Tiers and prices have changed several times since 2025; the MCP plan is sold separately and non-refundable.
• Scale: About 40 staff and $13m raised against much larger data incumbents.

Fiscal.ai is the trading name of Stratosphere Technology Inc., founded in Toronto in 2021 by Braden Dennis, co-host of The Canadian Investor Podcast. Stratosphere launched as an investor data site, FinChat launched in April 2023 and absorbed it, and the company rebranded as Fiscal.ai in June 2025, partly because bank firewalls blocked AI-chat domains.

The company raised a $250,000 pre-seed and joined TinySeed in 2022, raised a $1.5m seed from Social Leverage in 2023 and a $10m Series A led by Portage in June 2025, with VanEck as strategic investor — about $13m in total. It reported 350,000+ registered users in 2025; ARR is not disclosed.

Company-reported figures are shown as such and are not independently verified. Verification is carried into the vendor questionnaire.

Fiscal.ai offers a terminal and a data layer for AI platforms. Figure 2 sets out our assessment of how it maps onto the investment workflow.

Fiscal Terminal

Company pages, segments and KPIs, screener, charting, comps, model templates, fund letters and source-to-filing links.

Fiscal API

As-reported and standardised statements, KPIs, estimates, ownership, prices, filings, transcripts and news.

Fiscal MCP

A remote server with code execution against the API, supported across Claude, ChatGPT, Gemini, Copilot and coding tools.

Platform partnerships

Native partner in ChatGPT for Financial Services and connector in Gemini Enterprise for Financial Services.

Scope of the product today

We did not locate an Excel add-in, expert or broker content, or current client document ingestion.

Fiscal.ai serves structured data with source links; its MCP exposes two tools, letting the assistant write code against the API rather than choose from a long tool list. Estimates carry provenance flags.

The only published evaluation is a vendor FinanceBench chart from about 2024. The company's strategy has shifted from its own chat product to supplying frontier platforms.

Fiscal.ai collects first-party fundamentals for 13,000+ companies across North America, Europe and ADRs, with S&P data for the rest, segments and KPIs for 2,500+ companies, 20 years of filings with page images, transcripts with audio, Zacks consensus and fund letters.

How KPIs are verified is not disclosed. Expert and broker research are not offered.

Fiscal.ai fits the fundamentals step of the workflow: pulling clean, auditable numbers into an assistant, a screen or a model.

It is a data source rather than a research or deliverable platform.

Fiscal.ai announced SOC 2 Type II in January 2025 and publishes a Vanta trust centre listing GCP, AWS, Vercel and Cloudflare as subprocessors. Figure 3 sets out what our public review located.

We would encourage buyers to request the SOC 2 report, SSO availability, no-training and retention terms, and audit-log capability.

The offsetting factor is platform diligence: OpenAI, Google and Anthropic each chose Fiscal.ai as a financial-data partner.

The terminal costs $49 a month or $39 billed annually (Pro) and $99 or $79 (Max); the MCP costs $780 a year; API pricing is by quote.

Inside ChatGPT for Financial Services no separate contract is needed. Buyers should model API and MCP costs separately.

Fiscal.ai sits in the Emerging quadrant of the GAII Intelligence Matrix, held back by content scope and enterprise documentation.

GAII initiation universe, 20 October 2026. Scores as currently published on the GAII Intelligence page; preliminary and based on public information.

11.1 Where Fiscal.ai is strongest relative to peers

• Against data incumbents, on price and speed to earnings data.
• Against AI-native data peers, on breadth of frontier-platform placement.
• Against terminals, on source-linked auditability inside assistants.

11.2 Areas of narrower functional focus

Fiscal.ai has built depth in fundamentals and distribution rather than research content or enterprise controls.

• Content: no expert or broker research.
• Enterprise: SSO, logs and no-training not located.
• Evidence: no case studies.
• Desktop: no Excel add-in.

Scores are on a 0–10 scale. Each dimension score is the mean of its sub-criteria, and the GAII Overall Score is the weighted mean of the six dimensions. The detailed sub-criteria scores that build each dimension are set out in Appendix A.

These are the areas where our public review did not find sufficient evidence to form a settled view. We have put them to the company and will update this note when they are answered. Prospective clients may find them a useful agenda for their own evaluation call.

• The SOC 2 report type and period.
• SSO/SAML, SCIM and audit-log availability.
• No-training and retention terms, including for model providers.
• Whether the terminal includes built-in chat.
• How KPIs are collected and verified.
• Named institutional customers.
• ARR and institutional revenue share.
• Data-residency options.
• Client data ingestion.
• Plans for an Excel add-in.
• Coverage of the Agentic Consensus.
• Terms of the frontier-platform partnerships.

This note is an assessment of a vendor against a defined framework, not a recommendation to buy or to decline. The following are the considerations we would put at the centre of an evaluation of Fiscal.ai specifically.

If you are a fundamental equity manager

• Use it inside ChatGPT, Gemini or Claude before buying a seat.
• Check KPI coverage of your names.
• Validate numbers through the source links.

If you are responsible for technology or vendor risk

• Open with Figure 3; request the SOC 2 report.
• Confirm no-training terms in writing.
• Budget MCP and API separately.

If you are assessing the category rather than the company

• Frontier platforms are choosing their financial-data partners.
• Source-linked data matters more as agents do more.
• Low-cost data layers pressure terminal pricing.

Each dimension score in Section 12 is the mean of the sub-criteria below.