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Compare · Filings infrastructure

The AlphaSense alternative for filings infrastructure.

AlphaSense — which now includes Sentieo (acquired 2022) and Tegus (acquired 2024) — is an enterprise market-intelligence platform with semantic search across filings, broker research, and expert-call transcripts. FinancialReports is the filings layer underneath — every regulatory document across 48 markets, in AI-ready Markdown, with webhooks and a free MCP server.

Last updated · May 2026Numbers cited from each vendor's public materials and third-party data vendors
At a glance · who picks whathonest comparison · we won't pretend AlphaSense is bad
Pick FinancialReports if
  • You build software that reads filings — not a UI for analysts to search
  • You need Markdown delivery for your own RAG or agent pipeline
  • You need webhooks across 48 markets, not an inbound ingestion API
  • You want a self-serve API key without a sales conversation
  • You want an MCP server you can wire to Claude or ChatGPT today
Pick AlphaSense if
  • Senior analysts live inside a Generative Search UI all day
  • The Tegus expert-call library (260,000+ transcripts) is the moat
  • Broker research aggregation under one search interface matters
  • Gemini-powered Generative Search is your daily research surface
  • Your firm is already on an AlphaSense enterprise contract
01 · Overview

Two tools, different shapes.

AlphaSense is the research desk's AI search engine. FinancialReports is the filings backend your code reads. Different layers of the same stack.

FFinancialReportsfilings infrastructure

A public-company filings API.

Every annual, quarterly, interim, and ad-hoc filing — indexed, parsed, normalized to Markdown. Free for the web, paid for the API and bulk delivery.

  • 26M filings · 48 markets
  • Markdown · JSON · raw PDF
  • Webhooks · < 90 s after publish
  • MCP server, free for any LLM client
From $0/mo · web is free, no account
AAlphaSenseresearch platform

An enterprise research UI.

Generative Search across filings, broker research, and the Tegus expert-call library. 7,000+ enterprises. The institutional research desk's AI search layer.

  • 500M+ documents across 37+ languages
  • Tegus expert calls — 260K+ transcripts
  • Generative Search (Gemini) · MCP Agent API
  • GraphQL Search API · enterprise-gated
From sales-quoted · ~$10k–$20k list/seat · enterprise contracts ~$125k
02 · Feature matrix

Side by side, line by line.

A non-exhaustive grid of what each tool does and how well. Where the lines blur, we say so.

Feature
FinancialReports
AlphaSense
Filings & disclosures
Raw filings, 48-market depth
48 markets
US-strong; EU/APAC native depth lower
AI-ready Markdown output
native · per filing
PDFs with sentence-level citation overlay
Bulk-pull every filing via API
REST + S3 · bulk download
GraphQL Search API · gated
Webhooks on new filings
HMAC-signed · < 90 s
UI / emailed briefs
Research & AI surface
Semantic search across corpus
API + MCP
Generative Search · best-in-class
Expert-call transcript library
Tegus · 260K+
Broker research aggregation
Multi-model AI Assistant
any LLM via MCP
Gemini-powered
Developer integration
Self-serve developer API
key in ~2 min
gated · account-manager review
MCP (Model Context Protocol) server
public · free · any LLM
Agent API · enterprise-gated
Markdown for LLM grounding
Free tier for web users
enterprise-only
Pricing & access
Public price list
sales-quoted
Annual entry cost
$0 (web) · $69+/mo (API)
~$10–$20k list/seat · enterprise contract ~$125k
Per-seat license required
usage-based
per-seat
Full · Partial · Not in scope  ·  Sourced from each vendor's public materials and reputable third-party data aggregators · spot a stale number? Tell us.
03 · The numbers

Cost. Coverage. Concrete.

Concrete numbers, sourced from each vendor's public materials and third-party data vendors.

Entry-level annual cost
FinancialReports$0web · forever
AlphaSense$10k+list/seat/yr
Bulk-pull filings via API
FinancialReportsYesREST · S3 · webhook
AlphaSenseSearchGraphQL · gated
Markdown filings
FinancialReportsNativeevery filing
AlphaSensePDFcitation overlay
04 · Speed

Filings hit the index in under a minute.

Median time from regulator publication to a queryable record. AlphaSense optimizes for research-time, not real-time delivery .

FinancialReports
~ 42 s
AlphaSense
in-UI delivery
Legacy aggregator
~ 30 min
Daily-batch vendor
next day

Measured against 13,400 filings across DE · FR · UK · NL · SE · US, Jan–Apr 2026. Time = regulator publication → API availability. Webhooks fire < 90 s for paid clients.

05 · By role

Different jobs. Different tools.

A few real workflows and where each tool shines. There's no single answer — many firms run both.

For the research desk

Senior analyst running Deep Research

Pick AlphaSense

Generative Search across filings, broker research, and Tegus expert calls is best-in-class for an analyst UI.

For the AI / data team

Building a filings RAG or agent

Pick FinancialReports

Webhooks, AI-ready Markdown, public MCP server, self-serve API key — the AI-pipeline shape AlphaSense doesn't expose.

For an investment team

Run both layers in parallel

Pick both

AlphaSense for the research layer; FinancialReports underneath for the data pipeline. Different layers, no conflict.

06 · Migration

Most teams don't switch — they add.

AlphaSense stays for the research desk. FinancialReports takes the AI-era data backend. Here's how to do it in a week.

01 · Day 1

Keep the research seats

Senior analysts stay on AlphaSense; identify the team running data pipelines, dashboards, or RAG that needs raw filings.

02 · Day 2–3

Wire the FR webhook

Point the filing.published webhook at your data backend. Markdown lands within 60 s.

03 · Day 4–7

Build on the data layer

Data engineers build RAG, dashboards, and agents on FinancialReports. Senior analysts continue Generative Search in AlphaSense.

07 · FAQ

Questions that come up.

Does AlphaSense have a public API I can sign up for?

Not self-serve. AlphaSense ships a GraphQL Search API and an MCP Agent API, but both are enterprise-gated — you talk to an account manager to get access. FinancialReports issues an API key on signup, no sales conversation required.

How much does AlphaSense actually cost per seat?

AlphaSense doesn't publish pricing. Third-party data puts list seats around $10,000–$20,000/yr, with SMB contracts averaging ~$45,000 and enterprise contracts averaging ~$125,000 (Tegus expert-call access pushes higher tiers).

Is Tegus still a separate product?

No. AlphaSense closed the $930M Tegus acquisition on July 8, 2024. The 260,000+ expert-call library now lives inside the AlphaSense platform. Sentieo was acquired in May 2022 and is fully consolidated.

Does AlphaSense deliver filings as Markdown for LLMs?

Not natively. Filings are delivered as PDFs with sentence-level citation overlay in the UI. FinancialReports delivers every filing as AI-ready Markdown — ready for grounding without parsing.

Can I get a webhook on every new EU regulatory filing?

Not from AlphaSense — its model is search-first, with emailed briefs and in-UI alerts. FinancialReports webhooks fire within 90 seconds on every new filing across 48 markets.

AlphaSense keeps the research seat. We deliver the filings.

Get an API key in two minutes and route every new filing to your RAG, agent, or dashboard.