The AI workspace for finance.

One surface where AI agents build the model, the deck, and the memo, on live, licensed market data, with every figure fully auditable.

Book a demo See the workspace

Built and trusted by

The problem

Stop paying the swivel-chair tax.

One comps refresh spans your licensed market data, Excel, PowerPoint, your drive, and your inbox, and every handoff is a fresh chance to break a link the night before the meeting. ArcaLabs collapses those tools into one surface and makes the trips between them for you.

Todayone comps refresh

You SharePoint FactSet Excel PowerPoint Word Outlook Drive OneDrive copy export paste re-key broken link attach version? export

One surface absorbs the rest.

ArcaLabsworkspace

Project Atlas

Atlas_Trading_Comps_v3.xlsx

v3Excel · 12 citations

Every figure traced to its source

The workspace

Your whole deal lives in one window.

Open a deal and you get a command station for your transaction: the agent in the chat, your live files in the editor, the full deal tree on the right. Version pills give your work history, Definitions are your source of truth, and the work and the workspace are finally the same place.

Project Atlas — Acquisition of Meridian Logistics

4 workflows·ACTIVE·atlas-8f21@deals.arcalabs.ai

Add workflow

Workbench Deal Log Editor Explorer

CIM review & valuation bridge

Build the EV bridge from purchase price to implied EBITDA multiple at $1.05B enterprise value.

Used 4 tools · 14s Thinking…

Search files · Meridian_CIM_v3.pdf1.4s

FactSet · MRDN-US2.1s

Read file · Meridian_LBO_Model.xlsx3.6s

Write file · Meridian_EV_Bridge.xlsx6.9s

Bridge built. At a $1.05B enterprise value on LTM Adjusted EBITDA of $84.2M, the implied entry multiple is 12.5x. Saved as Meridian_EV_Bridge.xlsx, sourced to the CIM and FactSet.

Meridian_EV_Bridge.xlsx

Excel · 41 KB

v1

Reply to add a follow-up that sends when this finishes

Meridian_LBO_Model.xlsx Excel

Meridian_EV_Bridge.xlsxv1

Project Atlas · Valuation

Implied Valuation Bridge

Purchase price to implied EV / LTM EBITDA · $ in millions

$924Equity

+$86Net debt

+$40Adj.

$1,050Enterprise

Every figure traced to its source · Adjusted EBITDA per the deal's Definitions

Files

01 — Confidential Information

Meridian_CIM_v3.pdf

02 — Financial Model

Meridian_LBO_Model.xlsxv4

Meridian_EV_Bridge.xlsxv1

Valuation_Deck.pptxv6

Definitions

Adjusted EBITDA

SBC Treatment

NWC Definition

Emails3

Q3 working capital

TSA exit costs

Workflows2

Meridian comps refreshDaily

Diligence trackerWeekly

Every figure traced to the source Source: FactSet · pulled 09:14 ET

Automate it

Describe the workflow. Watch the agent build it.

Turn the repeatable work into an agent just by talking: "every day at 8:00 AM ET, build the Vega Pharma comps and email me the Excel." It assembles itself into numbered steps you can watch execute, runs on a schedule, and keeps every step auditable against the deal brief.

Vega Pharma Trading Comps

Vega Pharma

Save as template Runs Run now

Agent Workflow

6/6 steps complete

Step 1PendingRunningComplete

Read the deal brief and the pinned definitions

Adjusted EBITDA and SBC Treatment, exactly as the deal team wrote them.

3m ago · 8s
Step 2PendingRunningComplete

Pull the peer set from FactSet

Prices, share counts and LTM financials for the eleven listed specialty-pharma peers.

3m ago · 47s
Step 3PendingRunningComplete

Apply our Adjusted EBITDA add-backs to every peer

Restate each peer on the firm's definition so the multiples are actually comparable.

2m ago · 31s
Step 4PendingRunningComplete

Build the trading comps table

EV/Revenue, EV/EBITDA and P/E at mean, median and quartiles.

1m ago · 24s
Step 5PendingRunningComplete

Write the Excel workbook

vega_pharma_comps.xlsx — every multiple cited back to the filing it came from.

1m ago · 12s · 1 artifact
Step 6PendingRunningComplete

Email me the workbook

Sent to the deal team with a short note on what moved since yesterday.

just now · 6s

Runs

Schedule

Every day at 08:00 America/New_York

Next run in 21h

0 8 * * * America/New_York

Edit Pause Remove

RUNNINGSUCCEEDEDjust now

Trigger: SCHEDULE · exit 0
SUCCEEDED1d ago

Trigger: SCHEDULE · exit 0
SUCCEEDED2d ago

Trigger: SCHEDULE · exit 0
SUCCEEDED3d ago

Trigger: SCHEDULE · exit 0

From one sentence to a running, scheduled workflow.

Trust the number

Every figure traces back to its filing.

A single surface only works if you can trust it, so every number carries provenance. Click the flag on any cell and the cited filing opens in-app, scrolled to the exact figure; step through the tagged range, mark each reviewed, and sign off with a full audit trail. No download, no SEC.gov tab, no black-box numbers.

Gross margin held at 66.5% on revenue of $13,507.0M1 citation for the quarter.

Atlas operating model.xlsx Income Statement!B8 13,507.0

Audit · NVIDIA Corp. 10-Q (Q1 FY2026) Income Statement · B8 · Revenue 1 of 12 SEC.gov

Citations (12) 54 reviewed

B8 · Revenue$13,507.0M10-Q for 1Q26
C8 · Cost of revenue$4,521.0M10-Q for 1Q26
B9 · Operating expenses$3,502.0M10-Q for 1Q26
B14 · Gross profit$8,986.0M10-Q for 1Q26
E22 · EBITDA margin41.5%10-Q for 1Q26
F30 · Net debt$1,940.0M10-K for FY25

Value $13,507.0M Mark reviewedReviewed

Highlighted the cited passage — $13,507.0M isn't printed verbatim on this page, so the sentence it was drawn from is marked instead.

NVIDIA CORPORATION

FORM 10-Q — QUARTERLY PERIOD ENDED APRIL 27, 2025

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations

The following discussion and analysis of our financial condition and results of operations should be read together with the condensed consolidated financial statements and the related notes included elsewhere in this Quarterly Report on Form 10-Q, and with the audited consolidated financial statements and the related notes included in our Annual Report on Form 10-K for the fiscal year ended January 26, 2025.

This Quarterly Report contains forward-looking statements that involve risks and uncertainties. Actual results could differ materially from those anticipated in these statements as a result of certain factors.

Results of Operations

Revenue for the first quarter of fiscal year 2026 was $13.51 billion, compared with $7.19 billion for the first quarter of fiscal year 2025. Cost of revenue was $4.52 billion and gross profit was $8.99 billion, or 66.5% of revenue.

Operating expenses were $3.50 billion, and operating income was $5.49 billion. See Note 3 for the disaggregation of revenue by reportable segment and by geography.

Gross Margin

Gross margin was 66.5% for the first quarter of fiscal year 2026, compared with 64.6% for the first quarter of fiscal year 2025. The increase was primarily driven by product mix, partially offset by higher inventory provisions.

Operating Expenses

Research and development expense increased from the prior-year period, primarily due to compensation and benefits, including stock-based compensation, reflecting employee growth.

10-Q for 1Q26$13,507.0M Prev Next Finish audit

The record and the replies

The deal log keeps itself. The replies draft themselves.

Correspondence and compliance live on the same surface as the work, so they stop being a second job. Every email, meeting, and agent action lands in a live, exportable deal log, and when a counterparty writes in, the agent drafts the reply for you to approve, all without opening your email.

Deal Log

Live compliance record · 36 entries · 2 to review · Last synced 4m ago

Add note Paste email Sync Export log

Waiting on your reply · 1

Review the message, edit the reply, then send — or reject to discard.

Project Atlas — Meridian Logistics drafted 6m agojust now

In reply to Priya Raghavan

Re: Project Atlas — confirmatory diligence: Q3 working capital

Two follow-ups before Thursday: restate Q3 on the Adjusted EBITDA definition we agreed, and confirm the TSA exit costs in schedule 4 — our bridge nets differently.

18m agojust now

Show original message

Your reply

Drafted reply · awaiting your approval from analyst@arcalabs.com

Topriya.raghavan@meridianlogistics.com

Ccdeal-team@arcalabs.com

SubjectRe: Project Atlas — confirmatory diligence: Q3 working capital

Priya — Q3 is restated on the Adjusted EBITDA definition in the deal's Definitions tab: SBC added back, the June freight rebate excluded.

The schedule 4 TSA items net to $1.8m, not $2.4m — the difference is the intercompany accrual that reverses in Q3; tab 4 walks it.

Reject Approve & send

Project Atlas — confirmatory diligence: Q3 working capital 4 messages Jul 31, 2026, 4:12 PM – Aug 1, 2026, 11:20 AM

Email sent· Jul 31, 2026, 4:12 PM gmail

Project Atlas — confirmatory diligence: Q3 working capital

Sent the working-capital request list and the Q3 bridge template to Meridian.

Email received· Aug 1, 2026, 8:42 AM reviewed gmail

Re: Project Atlas — confirmatory diligence: Q3 working capital

Returns the Q3 bridge and asks two questions on the TSA schedule.

Email sent· Aug 1, 2026, 8:45 AM gmail

Re: Project Atlas — confirmatory diligence: Q3 working capital

Approved and sent from the deal log — restated Q3 and the schedule 4 walk.

Email received· Aug 1, 2026, 11:20 AM gmail

Re: Project Atlas — confirmatory diligence: Q3 working capital

Accepts the restatement and asks for the TSA exit-cost support.

Meeting· Jul 31, 2026, 11:00 AM manual

Management session — logistics network and TSA scope

Walked the Q3 bridge with Meridian's controller. Open: freight rebate treatment, TSA exit costs.

Agent action· Jul 31, 2026, 9:26 AM agent

Rebuilt the working-capital bridge from the July trial balance

atlas_wc_bridge.xlsx · every line traced back to the trial balance it came from.

Teams message· Jul 30, 2026, 5:41 PM teams

Project Atlas — diligence channel

Legal confirmed the TSA schedule can be shared under the existing NDA.

Note· Jul 30, 2026, 2:15 PM manual

Call with Meridian's controller

June intercompany accrual reverses in Q3; support to follow with the trial balance.

Status change· Jul 29, 2026, 4:30 PM manual

Stage moved to confirmatory diligence

Exclusivity signed; diligence request list issued to Meridian Logistics.

Document· Jul 29, 2026, 11:48 AM manual

Meridian Logistics — Q3 trial balance (final)

Registered as a deal file; supersedes the July 24 draft.

The output

Pitch-ready files, not chat answers.

The point of the surface is what comes off of it: real Excel models, PowerPoint decks, and Word memos in your house style, saved as first-class deal files you preview and download in full fidelity. Your golden-copy templates are the agent's playbook, so every output starts from your standard.

Valuation_Deck.pptxv6 Word

IC_Memo.docx

Meridian_LBO_Model.xlsxv2

Excel 02 — Financial Model / Meridian_LBO_Model.xlsx v2 ⌘L Native view Open in Excel

	A	B	C	D	E	F
1	Project Atlas — Meridian Logistics
2	Operating summary · $ in millions
3
4		FY2023A	FY2024A	LTM	FY2025E	FY2026E
5	Revenue	1,284.3	1,412.6	1,486.3	1,540.7	1,663.9
6	Adjusted EBITDA	70.1	78.9	84.2	92.1	99.6
7	% margin	5.5%	5.6%	5.7%	6.0%	6.0%
8	Capex	(31.6)	(34.1)	(35.9)	(36.8)	(39.4)
9	Levered free cash flow	24.8	29.4	33.6	38.9	44.2
10
11	Enterprise value			1,050.0
12	Implied EV / Adj. EBITDA			12.5x
13	Net debt / Adj. EBITDA	4.7x	4.2x	3.9x	3.5x	3.0x
14
15	Adjusted EBITDA per the deal's Definitions

B6:F6Audit 3+ Add to chat

Summary Operating Model Debt Schedule Returns Comps

Deliverable Excel

Meridian_LBO_Model.xlsxExcel · 486 KB Download Every output starts from your firm's golden‑copy template

Across the firm

Ask once. Every answer, fully sourced.

Ask across every deal at once. Enterprise Search reads your files, connected drives, and your market-data providers, FactSet by default, then streams back a cited answer led by the steps it took, so the provenance you trust on one deal scales to the whole firm. It searches only what you are cleared to see: sealed deal folders and information barriers stay enforced, so a query never reaches across an ethical wall.

Chats New

Adjusted EBITDA add-backs across live deals
Logistics precedents, 2024–2025
Find the most recent CIM globally
AAPL-US quotes and 3-year revenue
Weekly comps refresh workflow
Precedent multiples, cold-chain logistics
Which deals reference the Vega comps set?
Meridian data room — new this week
Draft a memo template I can adapt
Where did we land on SBC Treatment?

Adjusted EBITDA add-backs across live deals Global · Connectors · FactSet · Creates workflows

Where else have we used Project Atlas's Adjusted EBITDA add-backs, and what did comparable logistics deals close at?

Used 6 tools · 22s Running Web search · “logistics EBITDA add-backs” Running FactSet · fundamentals · MRDN-US Running FactSet M&A · public_targets · Complete Running Search connector · datasite · “Meridian” Running Search files · “Adjusted EBITDA” Running Find deals · “logistics” Thinking…

1. Find deals “logistics” 412ms

Result

6 deals
2. Search files “Adjusted EBITDA” 1.2s
3. Search connector datasite · “Meridian” 2.8s
4. FactSet M&A public_targets · Complete 6.4s
5. FactSet fundamentals · MRDN-US 2.9s
6. Web search “logistics EBITDA add-backs” 4.1s

Three of the six logistics deals you're on reuse Project Atlas's Adjusted EBITDA add-backs, SBC included, against the same Definitions entry. Across 14 comparable closed transactions FactSet puts the median at 11.8x LTM EBITDA. Atlas at a $1.05B enterprise value implies 12.5x — 0.7x above the set.

Ask anything across your deals, drives, and FactSet Working…

Attach

Step 1 resolves the deals you are cleared on — six here. Every step after it reads inside that set and nowhere else.

Why ArcaLabs

Compliance-first AI, sourced and audited end to end.

IT and security teams approve us. Partners and MDs trust us. The teams under them ship work that holds up to a senior reviewer's red pen, and stop pulling all-nighters before the meeting. Every output is sourced, audited, and runnable in your firm's existing infrastructure.

Official FactSet Partner

Live, licensed, direct data access, not a reseller, not a crawled snapshot. The fastest comps refresh in finance. FactSet is our default, certified data source; the platform is provider-agnostic and sources from other trusted providers however your firm prefers.
From the makers of Arcafeed (acquired)

A team with a real fintech track record. We have shipped production infrastructure into banks before, so we know what your ops, infosec, and procurement teams will ask.
Built for regulated firms

SOC 2 Type II, hosted on ArcaLabs' secure cloud, with single-tenant VPC deployment available on request and a full audit trail on every prompt and output.

Schedule a Call

Project Atlas — Meridian Logistics

Definitions Excel

Vega Pharma comps.xlsx

These overrides apply to every workflow under this deal.

Auto-saves while you type Saved

Adjusted EBITDA

Reported EBITDA plus run-rate cost synergies and non-recurring items. Excludes out-of-period gains, pro-forma revenue uplift, and any synergy not evidenced in the VDR.

SBC Treatment

Non-cash; added back to Adjusted EBITDA. Dilutive — carried into FDSO on a treasury-stock basis.

Debt Treatment

Financial debt and finance leases, net of unrestricted cash.

NWC Definition

AR + inventory + prepaids, less AP, accruals and deferred revenue. Peg is the LTM 12-month average.

FDSO Count

Treasury stock method for options and RSUs. Source is the latest 10-Q.

See the whole desk on one surface.

Book a 30-minute walkthrough and we will run a live workflow on your own deal: a comps refresh, an IC memo, or a diligence pack, built on live, licensed market data, FactSet by default, in your house style, with every figure traced to source, end to end without leaving the screen.

Book a 30-minute walkthrough