Features · Specification
What the software does, section by section.
This page reads like a specification: each capability defined in terms, with a figure beside it. The figures use a fictional issuer and are illustrative. The terms describe what the product does today.
Featured · Past comfort letters
Past comfort letters. Your earlier circles, put to work.
Upload a comfort letter your organization circled before Signed Off. The circles in it are extracted and used to circle the issuer's next filing accurately.
- Upload
- A comfort letter your organization circled in the past, as a PDF, for the issuer you are working on.
- Extract
- Every circle in the uploaded letter is found and tied to the number it marks.
- Apply
- On the issuer's next filing, those past circles are used alongside Signed Off's own recommendation, so the circles you drew before are drawn again where they still apply.
- Review
- A reviewer still decides. Any item can be circled or uncircled, and the never-circle rules apply last.
- Scope
- Uploaded letters belong to your organization and inform only its own circle-ups. They are not pooled with other organizations' letters and are not shared.
2025 Form 10-K · Item 7 · Liquidity and Capital Resources
As of December 31, 2025, we had cash and cash equivalents of $1,207.9 million and marketable securities of $412.4 million. Net revenue was $318.5 million in the fourth quarter. See Note 9 to the consolidated financial statements.
| $1,207.9 million | Matched to 2024 comfort letter | Circled |
| $412.4 million | Matched to 2024 comfort letter | Circled |
| $318.5 million | Recommended · no past match | Circled |
| Note 9 | Note reference · never circled | Not circled |
§1
Extraction. Every number, always.
The pipeline reads the filing as filed and extracts every number on every page. Deciding which ones matter comes later and never shortens the list.
- Scope
- Every number on every page of the filing: amounts, percentages, counts, dates and references alike.
- Guarantee
- Every number is always extracted. None is dropped. Classification affects only whether a number can be circled, never whether it is extracted.
- Method
- Fixed rules, the same every time. No language model decides which numbers exist.
- Tables
- Tables are identified as part of the filing's structure, so a number in a table keeps its place in a row, a column and a cell.
- Images
- Numbers inside images, such as charts, are read too and flagged for review as Numbers in image.
- Structured data
- Where the filing includes the SEC's structured data, it is used as a check. It does not replace reading the page.
- Pipeline
- Four stages, shown live: retrieve, structure, numbers, circle. The filing is viewable immediately and circles appear on the page as the run goes. If section detection is unsure, the run pauses, asks a person to confirm the sections, then resumes.
Net revenue for fiscal 2025 was $4,812.3 million, an increase of 11.4% compared to $4,319.6 million in fiscal 2024, and we shipped 14,200 units from 3 facilities.
| Number | Type | Found in |
|---|---|---|
| 2025 | year | text |
| $4,812.3 million | amount | text |
| 11.4% | percentage | text |
| $4,319.6 million | amount | text |
| 2024 | year | text |
| 14,200 | count | text |
| 3 | count | text |
| 2,106.7 | amount | table |
| 38% | percentage | image |
Seven numbers in one sentence, all extracted, plus one from a table and one from a chart on the same page.
§2
Classification. Role and Region.
Each piece of the document gets a Role, which says what it is, and Regions, which say where it sits. Both decide whether a number can be circled. Neither can remove one.
- Roles
- Body paragraph, financial table, data table, image, heading, caption, footnote, scale note, page header, page footer and page number, among others.
- Regions
- Item, part, financial statements, cover, table of contents, forward-looking statements, exhibit index and signatures. A piece can sit in several at once.
- Structure
- The structure stage finds the filing's parts, items, sections and tables, and infers the form type.
- Unknown
- Anything that cannot be classified stays unknown. There is no catch-all bucket, and unknown numbers are still extracted.
- Recommendations
- The software recommends which numbers to circle (§3). No large language model decides what is extracted or circled.
- Versioned
- Each run records which version of the software made its recommendations.
| Piece | Role | Regions |
|---|---|---|
| Net revenue for fiscal 2025 was… | body paragraph | Part II, Item 7 |
| Revenue by segment | data table | Part II, Item 7 |
| Revenue mix chart | image | Part II, Item 7 |
| Consolidated Balance Sheets | financial table | Item 8, financial statements |
| (in millions, except per share) | scale note | Item 8, financial statements |
| 47 | page number | Part II, Item 7 |
| List of exhibits | data table | Item 15, exhibit index |
| Unplaced fragment | unknown | Part I, Item 1A |
There is no catch-all. A piece the rules cannot place stays unknown, and its numbers are extracted like any others.
§3
Circling. A recommendation, then the rules.
Circling is the last stage. The software recommends, then the never-circle rules apply as the final override.
- Recommend
- The software recommends include, candidate or exclude for each number. It is not a language model.
- Candidates
- Candidates are not decided for you. They appear under Review Suggested with the reason Borderline, for a reviewer to settle.
- Never-circle
- Some items are never circled, such as page numbers and note references. Four families of these rules apply after the recommendation, as a final override that nothing can overturn.
- Furniture
- Page headers, page footers and page numbers.
- References
- Addresses, citations, exhibit numbers, note numbers, form items, form types, list numbering, page references, phone numbers, SEC file numbers and tax IDs.
- Exhibit index
- Anything in an exhibit index.
- Statements
- On 10-K and 10-Q, anything inside the audited financial statements.
Item 7 · Liquidity and Capital Resources
As of December 31, 2025, we had cash and cash equivalents of $1,207.9 million and marketable securities of $412.4 million. No amounts were drawn under our $750.0 million revolving credit facility. See Note 9 to the consolidated financial statements.
Halvard Instruments, Inc. · 2025 Form 10-K52
| $1,207.9 million | include | Circled |
| $412.4 million | include | Circled |
| $750.0 million | candidate | Not circled · Borderline |
| Note 9 | Note reference · never circled | Not circled |
| 52 | never-circle: page number | Not circled |
§4
Review. The page on one side, the items on the other.
Reviewers see each circle drawn on the filing page and work through the items panel beside it. Every change is attributed to the person who made it.
- Layout
- The filing page on one side with circles drawn on it. The items panel on the other.
- Tabs
- All, Circled, Review Suggested and Changed.
- Filters
- By item kind (text, table, image), number type, section and review reason.
- Reasons
- Promoted, Demoted, Differs from prior, New, Borderline and Numbers in image. Each says why an item is worth a look.
- Decisions
- A reviewer can circle or uncircle any item. The change is attributed to them. Item badges read Circled or Not circled.
- Tables
- Circle the whole table, or chosen rows, columns or cells.
- Passes
- A review pass is a recorded object: who started it, who completed it, which items each person viewed, and a snapshot of the items at completion.
$750.0 million
Text · p. 52 · Item 7
Not circled
Borderline
38%
Image · p. 47 · Item 7
Not circled
Numbers in image
$318.5 million
Text · p. 49 · Item 7 · R. Okafor
Circled
Differs from prior
Revenue by segment
Table · p. 47 · Item 7 · 2 of 6 rows
Circled
Borderline
§5
Deliverables. One filing, several sets of circles.
A deliverable is a named, colored set of circles on the filing. Each one produces its own circled PDF.
- Comfort Letter
- Every circle-up has a Comfort Letter deliverable. Its color is red.
- Custom
- Teams can add their own deliverables, each with a name and a color: red, purple, blue, green, yellow or pink.
- Rings
- One number can be circled into several deliverables at once. It is drawn with concentric rings, one per deliverable.
- A circled PDF for each deliverable. PDF is the only export.
- Variants
- Two per deliverable: Circled Pages and All Pages.
- Regenerated
- PDFs are generated automatically and regenerated when the circle-up changes.
Gross margin was 61.2% in fiscal 2025, and research and development expense was $604.1 million.
- Comfort Letter
- CFO Certificate (added by the team)
Circled Pages
Comfort Letter · PDF
All Pages
Comfort Letter · PDF
§6
Prior judgments. Last time's decisions, carried forward.
When your organization has an earlier circle-up for the same issuer, items are matched between the two filings and every difference is put in front of a reviewer.
- Source
- Your own organization's earlier circle-up for the same issuer. Nothing is drawn from other organizations.
- Promoted
- A matching prior decision to circle is carried forward.
- Demoted
- A prior reviewer's uncircle is respected.
- Differs
- Where this filing and the prior one disagree, the item is marked Differs from prior.
- New
- An item with no match in the prior circle-up is marked New.
- Panel
- The items panel shows the prior page and the prior state next to the current one.
- Before Signed Off
- Past comfort letters can be uploaded too, and their circles are used the same way. See Past comfort letters, above.
| Item | Prior | Now | Reason |
|---|---|---|---|
| Net revenue | Circled · p. 45 | Circled | Promoted |
| Employees | Not circled · p. 9 | Not circled | Demoted |
| Backlog | Circled · p. 48 | Not circled | Differs from prior |
| Units shipped | No match | Not circled | New |
§7
Teams and groups. Your organization, your circle-ups.
Circle-ups, review decisions and deliverables are private to your organization. Access is by organization membership and a role on each circle-up.
- Organizations
- An organization has members and admins. Create one or join yours when you create an account, then invite colleagues.
- Roles
- Each circle-up has a creator, admins, users and viewers. Viewers cannot change circles.
- Access
- You can request access to a circle-up you can see but are not on.
- Groups
- A named set of circle-ups and members, for example one transaction. Shared deliverable buckets keep the same deliverable lined up across the group's filings.
- Inbox
- Messages about circle-ups, with unread counts.
- Activity
- A feed of what happened: circle-up created, member added, review started, review finished.
- Admin
- Manage members (invite, set role, lock) and see a usage page: circle-ups, circle-ups this year, creators and issuers.
- Sign-in
- SSO via SAML for organizations.
| Member | Role | Change circles |
|---|---|---|
| R. Okafor | Creator | Yes |
| J. Whitcombe | Admin | Yes |
| M. Lindqvist | User | Yes |
| A. Ferreira | Viewer | No |
§8
Public filings, ready to search.
Signed Off keeps a catalog of issuers and their public filings, so a circle-up can start from a search.
- Search
- Find an issuer by name or CIK.
- Saved
- Save issuers to a list so the ones you work on are close at hand.
- Filings
- Browse an issuer's filings and start a circle-up from one.
- Forms
- 10-K, 10-Q, prospectuses and proxy statements, among others, plus amendments.
| Form | Filed | |
|---|---|---|
| 10-K | 2026-02-27 | Start circle-up → |
| 10-Q | 2025-11-04 | Start circle-up → |
| 8-K | 2025-09-18 | Start circle-up → |
| 10-Q | 2025-08-05 | Start circle-up → |
| 10-Q | 2025-05-06 | Start circle-up → |
§9 · Next
Run it on one of your filings.
Create an account and start a circle-up from a filing. Search the issuer by name and pick one of its public filings. The filing is viewable immediately and circles appear as the run goes.