01
Concierge production
Our team crafts your first report end-to-end. You provide the PDF and source materials; we deliver a complete interactive experience, reviewed against your brand guidelines and legal requirements.
For investor relations teams · Glance. Drill. Ask.
Annual reports shareholders actually finish.
Informance turns a dense annual report into a guided sequence of interactive infographics. Readers grasp the message at a glance, drill into what matters, and ask the built-in assistant for the rest.
Meridian Industries
2025 Annual Report
Letter from the Chief Executive Officer
To our shareholders, employees, and partners: fiscal 2025 marked a year of disciplined execution across our industrial platform. Revenue grew 6.2% to $4.81 billion, operating margin expanded 110 basis points, and free cash flow conversion exceeded 98% for the fourth consecutive year.
Our Precision Components segment benefited from sustained demand in commercial aerospace and power generation, offset modestly by softness in off-highway equipment. We completed the Hartley Pneumatics acquisition in Q2 and began integration on schedule.
Capital allocation remained focused: $312 million returned to shareholders via dividends and repurchases, $184 million deployed in organic growth investments, and $97 million in bolt-on M&A. Net leverage closed the year at 1.6x.
Looking to fiscal 2026, we expect continued share gain in Precision Components, accelerating contribution from our Industrial Automation product line, and stable commodity pass-through across the portfolio. We reaffirm our long-term algorithm of mid-single-digit organic growth, 50–75 bps annual margin expansion, and high-teens return on invested capital.
Figure 2 · Revenue, $ billions
Meridian Industries, Inc.
— 4 —
Meridian Industries · 2025
Live · updated 3 days agoA year of disciplined execution.
Revenue of $4.81B, up 6.2%. Operating margin expanded 110 bps. Free cash flow conversion above 98% for the fourth consecutive year.
$4.81B
6.2% 3.2 4.8
Revenue · $B
+110 bps
0 +110
Op. margin · YoY
98%
4Y 95 98
FCF conv. · %
Revenue · FY17–FY25
$ billions · hover to inspect
FY25
$4.81B
+6.2% YoY
PDF annual report
Informance
From a dense PDF (left) to a guided sequence of interactive infographics (right). Drag the divider to compare. Or explore a real one — Costco’s 2024 annual report, rebuilt as an interactive story →
Informance is new — we’re onboarding our first investor-relations teams. The Costco report linked above is a real public-company 10-K, transformed end to end.
A year of work, in a format few people finish.
Annual reports keep getting longer and harder to read. Research on U.S. filings finds the length of a 10-K is itself a reliable measure of how unreadable it has become — and that longer filings track with greater share-price volatility and less accurate analyst forecasts.1
They keep growing, too: by 2017, large UK-listed companies’ annual reports averaged 186 pages — up 26% in five years.2
The format, not the substance, is the problem: a document built for filing, read on a phone. The CEO’s letter, the strategy, the disclosures — most of it never gets read.
Sources: 1. Loughran & McDonald, “Measuring Readability in Financial Disclosures,” The Journal of Finance (2014); 2. Deloitte, Annual Report Insights 2017 (FTSE 350), via FM Magazine.
A different kind of annual report.
Informance turns a dense annual report into a guided sequence of interactive infographics. Readers grasp the message at a glance, drill into what matters, and ask the built-in assistant for the rest.
02
Visit and interaction analytics
We track every visit and interaction: time-on-page, scroll depth, section completion, click and hover paths, device and geography. For the first time, you can show your CFO exactly how your annual report performed.
03
Ask-the-document Q&A
An AI assistant grounded in your filing answers shareholder questions in seconds — drawing only from your report and citing the section it came from. If something isn’t in the document, it says so rather than guess, and your filing is never used to train external models.
04
Workflow fit
We deliver after your PDF is final. No change to your legal review process, no disruption to your agency relationships, no new software for your team to learn.
Answers you can trust on a public filing.
The assistant is built so a shareholder — or your legal team — can rely on every answer. Three guardrails make that true.
Grounded
It only sees your filing. Every answer is drawn from your report and supporting documents — nothing from the open web, nothing invented.
Cited
Each answer points back to the section it came from, so anyone can check it against the source in seconds.
Declines
Ask something the report doesn’t cover and it says so, rather than guess. No hallucinated numbers.
Your filing is never used to train external models, and the AI key stays server-side — never exposed in the browser. Try it on the Costco example →
How it compares.
Informance isn’t a replacement for your report or your agency. It’s the layer on top that the alternatives leave out.
vs a static PDF
A PDF is the document. We keep it and add a web layer on top — readable on a phone, measurable, and answerable — without touching your filing or legal review.
vs an investor-relations agency
Agencies design and produce the report. We deliver after your PDF is final, adding the interactive layer, engagement analytics, and grounded Q&A — alongside your agency, not instead of it.
vs interactive-report vendors
Many deliver a polished microsite. We add the two things that usually aren’t included: engagement analytics you can take to the CFO, and an AI assistant grounded in the filing.
vs building it in-house
In-house means design, data visualisation, an AI pipeline, and ongoing upkeep. We deliver it concierge, in weeks, with no new software for your team to run.
Straightforward pricing.
Flagship
$18,000 · one-time
Your annual report transformed end-to-end by our team. Includes engagement dashboard for 12 months.
- — End-to-end concierge production
- — Brand and legal review
- — 12 months of engagement analytics
Ongoing
$2,500 /month
Unlimited documents. Priority production for earnings narratives and shareholder letters. Full platform access for your IR team.
- — Unlimited documents
- — Priority production queue
- — Full platform access
Enterprise — custom pricing for multi-entity, IPO, and spin-off use cases. Contact us →
Frequently asked.
How long does a flagship engagement take?
Four to six weeks from kickoff to published story, running parallel to your PDF production.
How does this fit with our existing annual report agency?
Informance delivers after your PDF is final. Your agency’s design, copy, and print production are unchanged.
Is the output accessible and SEC-compliant?
Yes. WCAG 2.1 AA accessibility, all required disclosures preserved, non-GAAP reconciliations linked.
Who owns the data and analytics?
You do. Engagement data is yours, exportable at any time, never shared or sold.
What does the engagement dashboard show?
Unique visitors, time-on-page by section, scroll depth, completion rate, click and hover interactions, device and geographic breakdown. Delivered as a monthly PDF and a live link.
How does the document Q&A work?
An AI assistant is grounded in your report and supporting filings — it answers only from that material and cites the section each answer draws from. Questions it can’t answer from the document get a polite decline rather than a guess, and your filing is never used to train external models.
See what your next annual report could look like.
A 20-minute conversation is enough to scope a flagship engagement.