What Valens Research does

Valens Research is a privately-held investment research firm founded in 2006 and headquartered in Cambridge, Massachusetts. The company has built its business around a proprietary analytical framework called Uniform Adjusted Financial Reporting Standards (UAFRS), which applies more than 130 individual adjustments to corporate GAAP and IFRS financial statements to remove accounting distortions and surface economically accurate company performance. Valens has used this methodology to restate the financials of over 25,000 companies globally, and layers additional proprietary tools on top of the dataset, including the Performance & Valuation Prime (PVP) Chart, Embedded Expectations Analysis (EEA), and the Market Phase Cycle macro framework.

The company's product surface is organized into tiered subscription offerings: a free daily Investor Essentials Daily newsletter for top-of-funnel acquisition; an entry-level Valens Starter tier for individual investors; premium newsletters including FA Alpha, Market Phase Cycle, and the Equity & Credit Newsletters; the UAFRS Database & App web platform; and Institutional Services that bundles full data access with dedicated analyst support and custom solutions. Go-to-market combines enterprise sales for institutional clients with a self-serve 14-day free trial on the Valens Research application, supported by webinars, master classes, university partnerships, and content marketing across YouTube, LinkedIn, Twitter, and Facebook.

Valens serves institutional investors (asset managers, hedge funds, mutual funds, pension funds, endowments) as its primary segment, alongside financial advisors, high-net-worth individuals, and finance students at partner universities. The firm reports adoption by 230+ of the 300 largest global investment managers, including all top 10. The company operates four offices (Cambridge, Chicago, Hong Kong, and Pasig City in the Philippines) with a headcount of 51-100 employees and is led by Chairman and CEO Joel Litman, who founded the UAFRS Council and holds patents covering the methodology.

Name

Valens Research

Legal name

Valens Research LLC

Website

https://valens-research.com

Company type

Private

Founded year

2006

Operating status

Operating

Headcount range

51–100 employees

Short description

Valens Research is a private investment research firm applying its proprietary Uniform Adjusted Financial Reporting Standards (UAFRS) framework to restate financials of 25,000+ companies, serving institutional investors, financial advisors, and individual subscribers through tiered subscriptions and database access.

Ownership category

akta.pro rank

Headquarters

HQ city

Cambridge

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales

Revenue model

1. Institutional Subscriptions: Full access to all Valens Research offerings including newsletters, database access, custom solutions, and dedicated analyst teams for tailored UAFRS integration.
2. UAFRS Database and App Access: Subscription-based access to database of 25,000+ companies with manual adjustments to uncover economically accurate, comparable corporate performance data.
3. Newsletter Subscriptions: Multiple newsletter products including FA Alpha (equity and macro insights), Market Phase Cycle (macroeconomic newsletter), and Equity & Credit Newsletters.
4. Free Newsletter (Investor Essentials Daily): Free daily newsletter providing macroeconomic insights and company analysis through UAFRS lens, used for lead generation and brand awareness.

Pricing tiers

Go-to-market motion3 records

Distribution channels3 records

Marketing channels6 records

Core offering

Valens Research provides institutional-grade investment research and financial analytics through its proprietary Uniform Adjusted Financial Reporting Standards (UAFRS) framework, which applies over 130 adjustments to remove GAAP/IFRS distortions from corporate financial statements. Its core offering is a database covering 25,000+ companies restated to Uniform Accounting, delivered via a web-based analytical application, premium newsletters (FA Alpha, Market Phase Cycle, Equity & Credit, Investor Essentials Daily), and institutional services with dedicated analyst teams.

Product overview

Valens Research offers a unified platform centered on Uniform Adjusted Financial Reporting Standards (UAFRS), applying over 130 adjustments to corporate financial data to reveal true economic performance. The core offering consists of the UAFRS Database covering 25,000+ companies with the Performance & Valuation Prime (PVP) Chart tool for analysis. This platform is distributed through tiered offerings: Valens Starter for individual investors, premium newsletters (Market Phase Cycle, FA Alpha, Equity & Credit Newsletters, Investor Essentials Daily) for various investor segments, and Institutional Services for enterprise clients with custom solutions. The company serves over 300 institutional investors, 25,000+ companies covered, and 70,000+ professionals reading their monthly research.

Differentiator

Problem solved

Functional benefit

Brands

• FA Alpha: Monthly equity and macro insights newsletter for financial advisors
• Market Phase Cycle
• UAFRS Database
• Investor Essentials Daily
• Institutional Services

Products and services

• UAFRS Database & App Access
• Market Phase Cycle
• FA Alpha
• Equity & Credit Newsletters
• Performance & Valuation Prime (PVP) Chart
• Investor Essentials Daily (IED)
• Valens Research Application
• Institutional Services
• Valens Starter

Quantifiable outcome

• 300+ institutional investors reading UAFRS research
• +2 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

AI capability3 records

Feature5 records

Scale indicators6 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Morningstar: Morningstar is a leading provider of independent investment research, fund data, and portfolio analytics to both institutional and individual investors. Comparable to Valens in serving retail and institutional audiences with subscription research and proprietary ratings, though at much larger scale.
• FactSet: FactSet is a major financial data and analytics platform serving institutional investors with integrated research, portfolio analytics, and company-level data. Comparable to Valens as an enterprise research and data subscription, though far broader and less differentiated on forensic accounting.
• CFRA (S&P Global): CFRA provides forensic accounting research, equity research, and fund analytics, now part of S&P Global. Overlaps directly with Valens on forensic accounting and fundamental research for institutional investors.
• Bloomberg Intelligence: Bloomberg Intelligence delivers independent research, data, and analytics to institutional subscribers via the Bloomberg Terminal. Overlaps with Valens in providing premium investment research and analysis to large asset managers, but is embedded in a much larger data ecosystem.

Emerging players

• Gavekal Capital: Gavekal provides independent macro and equity research, including UAFRS-inspired adjusted financial data products, to institutional investors globally. Closely comparable to Valens in combining macro research with restated company financials as a differentiated offering.
• Hedgeye Risk Management: Hedgeye is an independent investment research firm delivering macro, equity, and sector analysis through subscription products and a content-heavy media model. Comparable to Valens' FA Alpha and Market Phase Cycle newsletters in content-driven research distribution.

Direct peers

• Argus Research: Argus Research is an independent equity research firm providing fundamental company analysis, model portfolios, and sector research to institutional and individual investors. Comparable in business model and customer base to Valens' premium research products.
• New Constructs: New Constructs provides forensic-adjusted equity research and ratings built on proprietary adjustments to as-reported financials, the closest conceptual analog to UAFRS. Targets institutional and retail investors seeking alternative-measures-of-earnings research.
• Wolfe Research: Wolfe Research is a sell-side equity research and institutional trading firm providing fundamental research and corporate access. Comparable to Valens in serving institutional investors with differentiated fundamental research, though distributed via sell-side channels.
• Zacks Investment Research: Zacks provides proprietary equity research, earnings estimates, and ranking systems to retail and institutional investors via subscriptions. Comparable to Valens in offering tiered subscription research products based on differentiated analytical frameworks.

Market position

Strengths1 record

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/valensresearch
• YouTubeyoutube.com/channel/UCr69smVpfH3zEaQGLMwREug
• Facebookfacebook.com/valensresearch
• LinkedInlinkedin.com/company/valensresearch

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Valens Research