Half-year results15 Feb 2026
+62▲▲ Strongly positive
Proforma revenue grew 13% and EBITDA 12% in constant currency to A$339m; FY26 guidance was reaffirmed and the interim dividend rose 10% to 42.5c.
H1 FY26 Results Presentationp. 5, 29
Market synthesisEvery signal.
Every signal.
One clear view.
Reports, results, announcements and news arrive from everywhere. Distil reads them, keeps what matters, and shows you the page it came from.
General information only. Not financial advice.
◆ DISTILLED · LIVEIllustrative feed
Read as it lands
Announcements and reports across 18 exchanges, read and cited
Tone shown for real Distil reads; other names show coverage, not viewsSee the features →
257Company documents read for SEEK and CAR Group, back to 2008.
18Exchanges loaded, from the ASX and NYSE to London, Frankfurt and the Nordics.
p. 25Every point in a Brief carries the page it came from.
0Buy or sell calls. Distil informs; the decision is yours.
How it works
Four moves, every document.
Distil collects what a company publishes, reads it page by page, scores the tone and writes a Brief where every point links back to its page. Here is one document going through.
01Collect
ASX announcement09:31
Annual report180 pp.
Results callaudio
News, 3 articleslower weight
From the company’s own website and the exchange, each with its date and source.
02Read
p. 25p. 27
Every page converted to text and read in a set format. Key figures, guidance, risks and people are pulled out.
03Score
+55▲ Positive
Tone from −100 to +100 with a confidence level, and forensic flags for what the headline leaves out.
04Cite
p. 25
p. 26
p. 27
p. 106
Brief ready · every point cited
A Brief of five points or fewer. Click any point to open the page it came from.
Animated illustration of CAR Group’s FY26 Annual Report going through Distil. The score and pages are the real ones.
The Read
The same company, read three times.
Each document gets its own tone and its own Brief, so you can see how the story moves from one release to the next. Real Distil output for CAR Group.
Annual report9 Aug 2026
+55▲ Positive
Double-digit constant-currency growth and solid FY27 guidance, offset by higher debt, thin franking and tight North America headroom.
FY26 Annual Reportp. 25–27
Sustainability report15 Aug 2026
−10● Mixed
Top ESG ratings and a lower gender pay gap, but emissions rose 11.7% and the offset-based carbon neutrality goal was dropped.
FY26 Sustainability Report · ESG tonep. 7, 27
Under the surface
5
Forensic flags in SEEK’s 2024 Annual Report, two of them high. None of them is in the headline.
SEEK Limited · SEK (ASX) · 2024 Annual Report · document tone ▼ −35
Large impairment of the Zhaopin stake
A$119.8m on the 23.5% holding; the auditor lists it as a key audit matter.
Growth Fund valuation swings reach reported profit
A A$117.5m fund loss; fund investments are 38% of total assets.
Indemnities from the Latin American sale
A$46.8m provision for Brazilian tax and legal cases over five to eight years.
Zhaopin sale receivable impaired
A$20.8m impairment of the net receivable from the FY2021 sale.
FY2023 comparatives restated
For the Latin America sale and a tax adjustment in the Fund.
Proof, not promises
Counted, not claimed.
Every number below comes from Distil’s own reads of SEEK and CAR Group documents. Pick any point and follow it to the page.
257company documents read, 2008–2026
1,257Brief points, each with its page
11,000+page citations back to the source
2,611key figures set against the prior year
793forensic flags raised
954disclosed risks catalogued
18exchanges across six markets
0buy or sell calls, ever
Sample Brief · PDF · 3 pages
See the quality
Read a real Brief before you sign up.
CAR Group’s FY26 Annual Report, as Distil reads it: headline, tone, the Brief, key figures against last year, segments, guidance, drivers, forensic flags, risks, people, and the questions it leaves for management. Every line has its page.
An example of Distil’s reading, not a view on CAR Group’s shares.
How your data is protected
Built to be trusted with your work.
Research, portfolios and decisions are sensitive. Distil is designed so they stay yours. Read the details →
Separate organisations
Each organisation’s research, portfolios, tasks and committee records are walled off. People see only what their role allows.
Your sign-in, never your password
Email and calendar connect through your own provider’s sign-in. Distil never asks for or stores the password.
Card details stay with Stripe
Payments are processed by Stripe. Distil never sees or stores your card number.
No real orders, no advice
The trading desk is a demonstration with no broker connection. Distil never recommends buying, selling or holding.
Who’s behind Distil
Built by people who have built market platforms before.
Distil is built by Watkins Bay and led by Adam Ryan: part of the founding team at SEEK, Professor of Practice at Monash University, and a founder, investor, mentor and board member across Australia and California.
The method is published, versioned and dated, and every correction is logged in public. Read the method →
Disclosure: SEEK appears on this site because its documents were among the first Distil read. Adam Ryan was part of SEEK’s founding team. Nothing here is a view on SEEK’s or any company’s shares.
Who it’s for
One platform, three ways of investing.
The same reading underneath. What changes is who shares it, how decisions get made and what you report.
Individual investors
Your own portfolio, properly researched.
Reads, Briefs and documents read for you, with portfolio, income and franking in one view.
For individuals · from a month → Investment fundsResearch and decisions in one place.
Shared coverage, weekly planning and an investment committee that keeps its own minutes.
For funds · from a month → Family officesEvery entity, every decision, one record.
Entities and tax by structure, a family committee with authority rules, and branded reporting.
For family offices · from a month →Coverage · six markets
Eighteen exchanges. One way of reading them.
Prices, fundamentals and news for listed companies on every exchange below. Names are examples of coverage, not a view on their shares.
ASXBHP · CSL · SEEK · CAR Group
NYSEJPMorgan Chase · Walmart
NasdaqApple · Microsoft
NYSE AmericanImperial Oil
Cboe USUS listings
LondonAstraZeneca · Unilever
TSXShopify · RBC
TSX-VCanadian ventures
XETRASAP · Siemens
Euronext ParisLVMH · TotalEnergies
Euronext AmsterdamASML
Euronext BrusselsAB InBev
Euronext LisbonGalp Energia
SIX SwissNestlé · Roche
StockholmAtlas Copco
OsloEquinor
CopenhagenNovo Nordisk
HelsinkiNokia
What we stand for
Markets are loud.Everyone has a take.Few show their working.We read everything,so you can see what actually changed.And the decision is always yours.
Questions
Before you start.
More on how a Read is built is on How it works.
Does Distil tell me what to buy or sell?
No. Distil collects, summarises, scores and cites. It never recommends a trade and never ranks “top picks”. The decision is always yours.
Which markets does it cover?
Listed companies on 18 exchanges: the ASX; NYSE, Nasdaq, NYSE American and Cboe in the US; London; TSX and TSX-V; XETRA; Euronext Paris, Amsterdam, Brussels and Lisbon; SIX; and Stockholm, Oslo, Copenhagen and Helsinki. Depth varies by market, and each company page says what it is built from.
What does the free trial include?
Thirty days of the full plan you choose. We take a card when the trial starts so your access continues without a gap; cancel before day 30 and you aren’t charged.
Can I trade from Distil?
Not with real money. The trading desk is a demonstration with no connection to a broker, so no real orders are ever placed.
See what changed. Then decide.
Thirty days of the full plan, free. Cancel before day 30 and you aren’t charged.
For individual investorsDo your own research.
Do your own research.
With the working shown.
For people who manage their own money and want to understand a company before they act. Distil reads what you don’t have time to, and keeps the source one click away.
General information only. Not financial advice.
◆ MY WATCHLISTDocument tone
- CAR Group · CAR (ASX)FY26 Annual Report · 9 Aug 2026▲ +55
- CAR Group · CAR (ASX)FY26 Sustainability Report · ESG tone● −10
- SEEK · SEK (ASX)2024 Annual Report · 13 Aug 2024▼ −35
- SEEK · SEK (ASX)FY2024 Full Year Result · 13 Aug 2024▼ −25
Real Distil output · not a view on the sharesHow tone works →
A week with Distil
Watch, read, weigh, decide.
How an individual investor uses Distil in a few minutes a day. Real Distil reads of CAR Group and SEEK.
01Watch
CAR Group▲ +55
SEEK▼ −35
Results released09:31
Dividend 43.5c12 Oct
Your watchlist shows which documents moved the tone since you last looked.
02Read
p. 29p. 51
Distil reads the release for you and pulls out what changed, with its page.
03Weigh
+62▲▲ Strongly positive
Tone and forensic flags show the substance, not the spin.
04Decide
p. 5
p. 29
p. 30
p. 51
Your call, always
Five points or fewer, each cited. The decision is yours.
Animated illustration using CAR Group’s H1 FY26 Results Presentation (tone +62) and FY26 dividend. Not a view on the shares.
Two minutes on the train
Open Distil and see what changed.
Your watchlist shows which documents moved the tone, and the Brief tells you why, in five points or fewer. Only what changed, each point with its page.
- Tone moves on your watchlist since you last looked
- Material announcements flagged when they land
- Alerts batched into one digest, not buzzing all day
◆ DISTILLEDCAR (ASX) · H1 FY26
What changed at the half
- Proforma revenue A$626m, up 14%; EBITDA A$339m, up 12%, at a 54% margin.p. 5, 29
- Interim dividend 42.5c, up 10%; adjusted EPS up 11% to 52.0c.p. 29
- All four regions grew; Latin America revenue up 30%.p. 30
H1 FY26 Results Presentation · tone ▲▲ +62
The documents, read for you
The annual report, without the 180 pages.
Distil reads results, annual reports and sustainability reports from the company’s own website, summarises them with page references, and lines them up against last year.
- Key figures with the prior year and whether the change is good or bad
- Guidance, drivers, segments and risks, each with its page
- Forensic flags for what the headline leaves out
Compare · CAR (ASX) · FY25 → FY26Annual Report
| Measure | FY25 | FY26 | p. |
|---|---|---|---|
| Proforma revenue | A$1,144m | A$1,253m | 25 |
| Proforma EBITDA | A$641m | A$700m | 25 |
| Adjusted NPAT | A$377m | A$407m | 25 |
| Full-year dividend | 80.0c | 86.0c | 25 |
| Dividend franking | 40% | 30% | 110 |
| Net debt | A$1,079m | A$1,198m | 106 |
Promises, kept or walked back
See when an ESG target quietly changes.
Distil reads each sustainability report in order and flags a commitment that is dropped, weakened or delayed, with the before and after on the page.
- ESG tone kept separate from results tone
- Year-on-year commitment tracking
- Board and executive changes over time
CAR (ASX) · FY26 Sustainability Report● −10
Offset-based carbon neutrality droppedReplaced by a 100% low-emission fleet by 2035 and more renewable electricity by 2030p. 7, 28
Total emissions up 11.7%26,547.1 tCO2e, after five acquisitions and seven new leased sitesp. 27
Gender pay gap narrowed15.1% on base salary, down 1.7 pointsp. 16
Your portfolio
Holdings, income and franking in one view.
Track what you own across accounts, see concentration, and follow dividends and franking credits through the Australian financial year.
- Import a broker CSV or an IBKR statement
- Dividend calendar with franking and DRP
- Income and tax summary by financial year
Income · from the FY26 Annual ReportCAR (ASX)
Final dividend 43.5c30% franked · payable 12 October 2026p. 51
Franking balance A$0.3mDown from A$9.3m; Pillar II applies from FY27p. 110
Your own holdings and amounts appear here once you add a portfolio.
“The gap between the news and the expectation is where the work is.”
The Distillate · weekly newsletter
Individual plan
Three plans, from a month.
Essential covers one market and 25 companies; Professional three markets and 100; Premium all six markets, 300 companies and two users. Each plan includes Distil AI credits every month. Every plan starts with 30 days free. Compare Individual plans →
Is this financial advice?
No. Distil is general information. It doesn’t consider your objectives, financial situation or needs, and it never recommends buying, selling or holding a security.
Can I import my existing portfolio?
Yes. Add holdings by hand, import a broker CSV, or import an Interactive Brokers activity statement.
Which companies have documents read in full?
Documents are read company by company, starting with ASX companies. Every company on the 18 exchanges has prices, fundamentals and news; each company page says what has been read.
Your research, with the working shown.
Individual plans are free for 30 days, then from a month.
For investment fundsOne research desk.
One research desk.
One record of every decision.
For fund managers, analysts and portfolio managers who research together. Shared coverage, a weekly plan the whole team runs on, and an investment committee that keeps its own minutes.
General information only. Not financial advice.
◆ RESEARCH EXPLORERCAR (ASX) · 106 documents
Themes across CAR Group’s documents
AIacquisitionsecosystemdealer softwareguidanceclimate reportingfrankingleadership change
- FY26 Annual Report · questions for management: returns on Syonet’s A$92.8m provisional goodwill, and the leverage ceiling.p. 128
- Adjusted NPAT exceeds reported by A$93m after acquired amortisation and one-offs.p. 88
- Undrawn facilities fell to A$246m from A$431.5m.p. 97
Real Distil output · shared with the teamSee the working →
How a fund decides
Capture, research, vote, record.
From an email in the inbox to a decision with its trail attached. Sample committee; research from real Distil reads.
01Capture
Send the quarterly reportGmail
Investment committeeThu 10:00
CAR Group FY26 reportnew
Meeting notes3 actions
Tasks, requests and decisions found in email, calendars and meeting notes.
02Research
p. 88p. 97
Analysts build the case from Distil’s cited reads, with forensic flags attached.
03Vote
4–1Approved
Members vote with weights and recusals; the chair holds a casting vote.
04Record
Decision
memo p. 2
Conditions
Audit
Logged: who, when and why
The decision, thesis, conditions and every change are logged.
Animated illustration with a sample committee. Page references are from CAR Group’s FY26 Annual Report.
Weekly planning
Every task has one owner, a week and a next step.
Plan the week against each person’s capacity. Unfinished work carries into This Week, and the burn-down shows whether the plan will land.
- This Week, Next Week, This Month, Next Month and Later
- Weekly goals and a plan built against capacity
- Burn-down with projected finish and a six-week trend
This week · sample tasksCapacity 25h each
Read the CAR FY26 forensic flagsAnalyst · 3hIn progress
Draft the October committee memoPM · 5hIn review
Refresh peer multiples for classifiedsAnalyst · 2hDone
Compare SEEK FY24 with FY23Analyst · 4h · waiting on documentsBlocked
Captured for you
The actions buried in your inbox, found.
Distil reads connected email and calendars and proposes tasks: requests, decisions waiting on you and things you promised. Paste meeting notes and it pulls the actions out too.
- Private to you until you accept a capture
- Accept into a week, edit first, or dismiss with a reason
- Gmail and Google Calendar now; Outlook and IMAP at launch
Captured for you · sample
Send the quarterly report by FridayFrom GmailTask
Approve the October agendaFrom meeting notesDecision
Prepare for the investment committeeFrom Google CalendarTask
Investment committee
Proposals, votes and memos, with the trail attached.
Analysts submit proposals with Distil’s cited analysis attached. Members vote with weights and recusals, the chair holds a casting vote, and every decision is logged with who, when and why.
- Agendas, memos and committee packs in Word and PDF
- Authority rules by size of decision
- Approved orders go to a demo desk, never a live broker
October committee · sample proposals
Proposal A · add to watch weight4 of 5 votesApproved
Proposal B · trim position2 of 5 votes · voting openVoting
Proposal C · exitDraft · memo attachedDraft
Roles
Admin, analyst, committee member, trader and viewer, each seeing what their role needs.
Coverage rules
Decide once which companies the team follows; Distil proposes additions for you to approve.
Shared home screens
Start from the team layout, then each person makes it their own.
Audit trail
Every change to a task, a proposal or a vote is logged in plain English.
Put the whole fund on one desk.
Fund plans are free for 30 days, then from a month with three users included.
For family officesEvery entity.
Every entity.
Every decision. One record.
For family offices that want institutional discipline without an institutional technology bill. Research, portfolios, committee and reporting in one system, with every decision recorded.
General information only. Not financial advice.
◆ FAMILY VIEWSample structure
One family, four structures
- Family trustAustralia · AUD · distributions and franking trackedEntity 1
- Self-managed super fundAustralia · AUD · its own tax settingsEntity 2
- Investment companyAustralia · AUD · company tax settingsEntity 3
- Personal holdingsEach member, kept separateEntity 4
Separate where they must be, together where you need to see the whole
How a family office works
Structure, combine, decide, report.
Every entity set up the way it is taxed, one family view, one committee, and reports you can hand to anyone. Sample family.
01Structure
Family trustAUD
Self-managed super fundAUD
Investment companyAUD
Personal holdingseach member
Each entity has its own jurisdiction, currency and tax settings.
02Combine
TrustSMSF
One family view consolidates holdings without blurring the structures.
03Decide
3–2Casting vote
Simple majority with the chair’s casting vote, authority limits by size.
04Report
Review
Income
Pack
Tax
Branded pack ready
Reviews, income, tax and committee packs, in your own branding.
Animated illustration with a sample family structure.
Entities and tax
Each structure set up the way it is taxed.
Every portfolio carries its own legal entity, country, currency and tax settings, set by your administrator. The family view consolidates them without blurring them.
- Holdings by entity, consolidated into one family view
- Dividends, franking and income by structure
- Income and tax summary by financial year
The principal, the CIO and the analyst each start from this layout and make it their own.
Committee and mandate
A family committee with rules everyone can see.
Simple majority with the chair’s casting vote, recusals, and authority limits by size of decision. Every decision has a short record of what was decided and why.
- Proposals with Distil’s cited analysis attached
- Minutes written as you go
- Memos in Word and PDF in your own branding
Decision record · sample
DecisionApproved, chair’s casting voteLogged
Thesis and risksFrom the attached analysis, each point citedmemo p. 2
ConditionsReview if net debt rises above the agreed limitWatching
Governance signals
Know when the people running your companies change.
Distil reads directors’ and remuneration reports and logs every appointment, departure and title change with its date and page.
- Board and executive changes over time
- Pay outcomes against targets
- ESG commitments that are dropped or delayed
CAR (ASX) · FY26 Annual Report · people
William Elliott appointed Managing Director and CEOReplaced Cameron McIntyre · August 2025p. 32
Geoff Trumbull appointed CFO2 March 2026p. 45
Kim Anderson retired from the BoardAt the 2025 AGMp. 32
01
Private by default
Each family’s data stays inside its own organisation. Advisers and family members see only what their role allows.
02
Calendar and email
Committee dates, results days and your own calendar on one home screen, with actions captured from email.
03
Reporting
Portfolio reviews, income and tax summaries and committee packs, exported in your own branding.
Three Family Office plans. Essential: one market, 50 companies, three users. Professional: three markets, 250 companies, ten users, adviser access and AI investment memorandums. Enterprise: all six markets, unlimited companies, 25 users, API access and an account manager. Compare Family Office plans →
One record for the whole family.
Family Office plans are free for 30 days, then from a month with three users included.
Core featuresEverything you need
Everything you need
to see what changed.
Real Distil screens, reading real company documents. Each feature shows which plans include it, so you can match the tools to the way you invest.
Screens marked “Sample data” use Distil’s fictional demo companies. General information only.
01 · Document reads
The whole report, read and cited.
Distil reads annual reports, results, presentations and sustainability reports from each company’s own website. Every point in a Brief links to the page it came from, and the Investor scorecard lines up this year against last.
02 · Financial analysis
Eighteen years in one view.
Research trends turns every full-year document into a line: revenue, EBITDA, profit, dividends, cash flow and margins, with growth rates, a guidance record, tone by year and forensic flags by year. Click any point to open its source page.
03 · AI analysis and research
What the headline leaves out.
Forensic flags pick out accounting choices, one-offs, related parties and cash conversion. The Research explorer lets you filter thousands of tagged points by theme, person, segment or place, across every document a company has published.
04 · Investment research
Screen, compare and dig in.
Screen companies, compare peers side by side and track the tone of every document over time, results and ESG kept apart so one never dilutes the other.
05 · Monitoring
One digest, not a hundred pings.
Announcements are read as they land and batched into one morning digest. Material ones are flagged straight away, with how long they took to reach you.
06 · Portfolio
Your holdings, your home screen.
Watchlists show how the Read moved this week. Portfolios track holdings, income and franking by entity, and the home screen is yours to build from widgets.
07 · Reporting
Reports you can hand to anyone.
Export Briefs, committee packs, portfolio reviews and family reports in Word and PDF, in your own branding on Professional and Enterprise plans. Download a real one.
08 · Collaboration
Decisions with the trail attached.
Proposals carry Distil’s cited analysis. Members vote with weights and recusals, the chair holds a casting vote, and every decision is logged with who, when and why. Advisers see only what you share.
Decision record · sample
Proposal A · add to watch weight4 of 5 votes · chair voted lastApproved
Thesis and risksFrom the attached Brief, every point citedmemo p. 2
ConditionsReview if net debt rises above the agreed limitWatching
Audit trailCreated, voted, approved, exported · 6 eventslogged
10 · Charts, simulation and models
From the documents to the model.
Trends drawn from every annual report, Monte Carlo simulations of possible price paths, forecast ranges by horizon and valuation models you can adjust. Models are scored honestly against what happened, and shown as ranges, never as calls.
Research trendReal
Monte Carlo simulationIllustration
Forecast range by horizonIllustration
Valuation modelIllustration
09 · Data, access and support
Sized for an institution.
Enterprise plans add API access, an account manager and institutional volume: more people, unlimited companies and much larger AI credit allowances.
◆ PROOFFrom Distil’s own reads
257company documents read, 2008–2026
1,257Brief points, each with its page
11,000+page citations back to the source
2,611key figures set against the prior year
793forensic flags raised
954disclosed risks catalogued
18exchanges across six markets
0buy or sell calls, ever
See it on your own companies.
Every plan starts with 30 days free. Download the sample Brief first if you like.
Method v1.0Don’t trust us.
Don’t trust us.
Check us.
How every Brief and Read is built: which sources we use, how we weight them, how confidence is set, and where the method fails.
◆ SOURCESWhy a Read moves
Annual reportPrimary · page by pagep. 25
Results presentationPrimaryp. 26
ASX announcementsPrimary · time-stamped09:31
NewsSecondary · weighted lower3 articles
How it works
Four moves, every document.
Distil collects what a company publishes, reads it page by page, scores the tone and writes a Brief where every point links back to its page. Here is one document going through.
01Collect
ASX announcement09:31
Annual report180 pp.
Results callaudio
News, 3 articleslower weight
From the company’s own website and the exchange, each with its date and source.
02Read
p. 25p. 27
Every page converted to text and read in a set format. Key figures, guidance, risks and people are pulled out.
03Score
+55▲ Positive
Tone from −100 to +100 with a confidence level, and forensic flags for what the headline leaves out.
04Cite
p. 25
p. 26
p. 27
p. 106
Brief ready · every point cited
A Brief of five points or fewer. Click any point to open the page it came from.
Animated illustration of CAR Group’s FY26 Annual Report going through Distil. The score and pages are the real ones.
The detail
Strengths and limits, shown the same way.
Versioned and dated. When the method changes, this page says what changed and when. Method v1.0.
Sources and licences
Exchange announcements, documents on company websites, licensed market and news data, and connectors you choose to add. Public pages only, following each site’s robots rules. Each company page names its sources.
Exchange announcementsCompany websitesLicensed dataYour connectors robots rulesWeighting and recency
Primary sources count most; news counts less; social posts least. Older items fade so the Read reflects what is current.
Relative weights, shown for illustration.
Confidence levels
Set by how many independent sources agree and how recent they are. When evidence is thin, the Read says so.
Highseveral recent sources agreeMediumsome agreement, or olderLowfew sources, or they conflictResults tone and ESG tone
Results documents get a results tone. Sustainability, governance, modern-slavery and tax-transparency documents get a separate ESG tone, kept out of results sentiment.
−1000+100CAR Group, FY26: Annual Report and Sustainability Report.
Known limitations
- Tone describes the language of what was published. It does not predict prices.
- Small companies with few sources get low-confidence Reads.
- Machine summaries can misread a document, which is why every point links to its page.
Ownership and conflicts
Distil is a Watkins Bay company. Watkins Bay advises companies and manages its own fund, so Reads, Briefs and rankings are never adjusted for any company it holds or advises.
Watkins Bay holdings and clients no influenceReads, Briefs and rankingsCorrection log
When we get something wrong, we correct it and log what changed and why. The log is public.
DateWhat changedWhydd mmm yyyyThe point, figure or score correctedThe source page and the reasonHow each entry is recorded.
PricingFree for 30 days.
Free for 30 days.
Then the plan that fits.
Nine plans across three ways of investing. Every plan starts with a 30-day free trial of the full plan. Prices .
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Every feature of your plan. We email you a week before the trial ends.
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What each plan includes.
Markets are yours to choose from Australia, New Zealand, Canada, the USA, the UK and Europe. A monitored company is one on your active coverage list; searching everything else is free.
* Unlimited is subject to a reasonable fair-use policy. AI credit allowances reset each month.
Add-ons
Add to any plan.
Prices a month . Shown in your currency at today’s rate and confirmed at checkout.
| Add-on | For | Price |
|---|
What counts as a monitored company?
A company on your active coverage list. You can search and read any company in the database; ongoing analysis, monitoring, alerts and AI updates count against your allowance. Swap companies in and out any time.
Can I choose my markets?
Yes. Pick from Australia, New Zealand, Canada, the USA, the UK and Europe up to your plan’s number, for example Australia, the USA and the UK on Professional. Premium and Enterprise plans include all six. Add more markets as an add-on.
What are Distil AI credits?
Credits pay for Distil’s AI work: reading a document into a Brief, running a diligence dossier, writing a memo or answering a question. Every plan includes a monthly allowance, shown on each plan, and you can top up any time.
If Distil has already done the same analysis on the same documents, you get the stored result straight away. It uses the same credits as a fresh run and is just as current: when a new document arrives, the analysis is run again.
What does Institutional mean?
Volume. Enterprise plans have the same tools as Professional, sized for an institution: more people, unlimited companies and portfolios, and much larger AI credit allowances.
Which currency am I billed in?
Australian, US and Canadian dollars, British pounds or euros. Choose at sign-up; your price stays the same for as long as you keep the plan, even when exchange rates move.
Does Distil cover private companies?
Distil covers listed companies today. Private-company analysis is planned as an add-on for Fund and Family Office plans.
Why do you take a card for a free trial?
So your access continues without a gap on day 31. You aren’t charged during the trial, and you can cancel any time before it ends.
Can I change plans later?
Yes. Upgrades apply straight away; downgrades apply from your next bill.
What counts as a user licence?
One named person who signs in. Advisers you invite on Family Office plans count as users too.
TrustYour data, your decisions,
Your data, your decisions,
your accounts.
What Distil does with your information, what it will never do, and where the limits are.
Not advice
Distil provides general information only. It doesn’t take into account your objectives, financial situation or needs, and it never recommends buying, selling or holding a security.
No real orders
The trading desk is a demonstration. It has no connection to a broker, can’t place a live order, and its AI can’t approve orders or override risk limits.
Email and calendar, on your terms
Connections use your own sign-in through a connector, never a password typed into Distil. Distil reads to show your inbox and propose tasks; it doesn’t send, delete or label on its own.
Separate organisations
Each organisation’s research, portfolios, tasks and committee records are kept apart. People see what their role allows, and private tasks are visible only to their owner.
Independent by default
No paid placement. Reads and Briefs are never adjusted for any company Watkins Bay holds or advises.
Respectful collection
Distil reads company websites the way a careful person would: public pages only, following each site’s robots rules, slowly, and stopping when asked.
General information only. Distil does not take into account your objectives, financial situation or needs, and it is not a recommendation to buy, sell or hold any financial product. Tone scores describe the language of published information; they do not predict prices. Consider seeking independent advice before making investment decisions.
Proof
Counted from Distil’s own reads.
SEEK and CAR Group, every document back to 2008. Download a sample Brief →
257company documents read, 2008–2026
1,257Brief points, each with its page
11,000+page citations back to the source
2,611key figures set against the prior year
793forensic flags raised
954disclosed risks catalogued
18exchanges across six markets
0buy or sell calls, ever
Who’s behind Distil
Watkins Bay.
Distil is built by Watkins Bay and led by Adam Ryan: part of the founding team at SEEK, Professor of Practice at Monash University, and a founder, investor, mentor and board member across Australia and California.
Disclosure: SEEK appears on this site because its documents were among the first Distil read. Adam Ryan was part of SEEK’s founding team. Watkins Bay advises companies and manages its own fund; Reads and Briefs are never adjusted for any company it holds or advises.
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01Allowance
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Read into a Brief4
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Illustration using the Professional plan’s 750 credits a month. Credit costs per action are examples.
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Stored results
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