The Index
400 dossiers
A research screener for every company we cover. Search a name or ticker, then sort and triage dossiers by coverage freshness, our conviction and trading relevance.
| A genuine engineering bet (tendon-driven safe humanoid + in-home data flywheel) wrapped in a marketing fiction — NEO ships "autonomous" but runs on stranger-in-a-VR-headset teleop, and the company most likely to make it work, OpenAI, just became its competitor. | — | 1 | |
| A genuine FMCW technology lead and a watershed exclusive-OEM win, priced at ~28x forward sales against ~24 months of runway and a 2028 start-of-production — the technology is real, the chasm between here and revenue is the trade. | — | 1 | |
| The only humanoid actually billing paying customers for real warehouse work — but it is being squeezed between Figure's $39B AI-narrative capital and Unitree's $16K Chinese hardware, and SoftBank already tried to buy the whole thing for under $1B. | — | 1 | |
| A well-run, deleveraging precision-motion roll-up whose ~0.8% organic growth has been lapped by a +99% / 12-month stock that now trades at ~67x P/E and ~24x EV/EBITDA — the SAME EBITDA multiple as Ametek at 1/20th the scale and quality, and ~20-45% above every published analyst target. Quality business, dislocated price. WATCHING / lean BEARISH on valuation, not on the company. | — | 8 | |
| The most physically capable humanoid in the world, wholly bankrolled by its own customer (Hyundai) — which is exactly why the standalone economics are unprovable until a third party pays full price in 2027. | — | 1 | |
| Not a robotics name — the purest large-cap pick-and-shovel on AI back-end networking (800G→1.6T switches + custom hyperscaler racks), compounding adjusted EPS ~45%/yr; but ~65% of revenue sits in three hyperscalers and the stock already prices ~37x forward, so the bet is "does hyperscaler capex and Celestica's share survive a single-customer wobble" rather than "is there demand." | — | 1 | |
| A high-quality, asset-light machine-vision franchise mid-cyclical-recovery (Q1 '26 +21% cc, GM back to 71%, new CEO executing) — but the tape already prices a flawless multi-year re-acceleration at ~34x forward EPS, so the edge is in the cycle, not the multiple. WATCHING, not chasing. | — | 8 | |
| A spine-implant roll-up wearing a robotics badge — the robot is <5% of revenue and a razor-and-blade pull-through, not the story; the real bet is whether mid-single-digit organic growth re-accelerates as NuVasive integration scars heal, at a justified ~16x value-medtech multiple. | — | 8 | |
H Hesai Groupcatalyst in 44d | The clear global LiDAR volume leader, now GAAP-profitable and pivoting into physical-AI sensing — but the entire equity is hostage to a single binary it cannot control: the U.S. appeals-court ruling on its DoD "Chinese Military Company" designation, with a hard June 30 2026 contract-ban trigger. | — | |
| A breakup that has already done its job on the multiple — automation re-rates fairly post-spin, aerospace (HONA) is the cleaner long, but at ~21x blended and with the catalyst (June 29) priced, the easy money is made; own HONA, hold/trim HON. | — | 8 | |
I Innoviz Technologiescatalyst in 43d | A real Tier-1 LiDAR product with marquee OEM design wins, trading like an option that expires — the bet is whether VW/Mobileye SOP volume arrives before the Sept-2026 Nasdaq clock and the cash runway force a dilutive reverse split. | — | 1 |
| The best razor-and-blade in medtech, finally facing real razors — an 84%-recurring soft-tissue surgical monopoly compounding mid-teens, but priced at ~37x forward EPS just as Medtronic and J&J arrive and US procedure growth decelerates 19%→14-16%. Quality is not the question; the entry price is. | — | 0 | |
| A newly-merged global #1 in food-processing automation, ~17% off its March high, mid-cycle on a real integration story — the bull case is synergy-and-deleveraging math the market half-believes; the bear case is two unremediated Marel control weaknesses and a $5.4B goodwill/intangible stack sitting on a still-cyclical protein-capex book. | — | 1 | |
| A funded, certification-stage option on being the first FAA-certified eVTOL — real moat in vertical integration + a fortress balance sheet, but priced for flawless execution with zero core revenue and a binary 2026 catalyst. | — | 1 | |
| A reserve-distorted GAAP optic hides a clean ~6-7% operational compounder that has visibly grown THROUGH the STELARA cliff; at ~20.6x forward adj EPS it is a quality-at-fair-price hold whose re-rate gate is talc tail-risk resolution and Orthopaedics/Ottava optionality, not the P&L. | — | 8 | |
| A category-of-one reimbursed medical-robotics razor (myoelectric arm orthosis, 6.3M-stroke US TAM) finally pivoting from cash-burning ad-funded patient acquisition to lower-cost recurring referrals — but it must prove the operating-leverage turn at ~$45M revenue before the Avenue debt covenants and a sub-$1.50 stock force another dilutive raise; bullish on the model, watching the proof. | — | 1 | |
| A real subsea-autonomy technology wrapped in a broken micro-cap balance sheet — going concern, a near-empty backlog, Q1-2026 revenue collapsed to $160k, and a board-authorized path to a cumulative 1-for-250 reverse split and 1.5B authorized shares. The tech may survive; today's common stock is a melting ice cube. | — | 1 | |
| A real, well-run precision-photonics/motion compounder priced like a 38%-EPS-growth story while actually compounding GAAP earnings backwards (~2% over 5yr) — the whole thesis rests on restructuring + AI-datacenter mix converting ~3% organic growth into margin expansion; WATCH/NEUTRAL near $151, not a buy at ~40x forward / ~30x EV/EBITDA until margins inflect. | — | 8 | |
| A real, accelerating Western digital-lidar franchise (+49% rev, 43% GM, 13 straight up quarters, June-30 NDAA China ban as a structural tailwind) priced like a winner-take-all at ~15x sales while it still burns cash and lives on serial dilution — own the operating turn, not this multiple. | — | 1 | |
P Pony.aicatalyst in 44d | A genuine top-3 global robotaxi platform finally crossing city-level unit-economics breakeven — but priced for execution it has not yet earned, with a related-party-and-China-permit overhang that the −65% drawdown is screaming about; net-cash floor + founder 540-day lockup make it a WATCHING name to size on proof of fleet-scaling through the permit freeze, not a chase here. | — | |
| A single-asset surgical-robotics razor-and-blade compounding ~30% real procedure growth, deliberately torching its own reported revenue to purge channel-stuffed handpieces and install pricing discipline — the half-off de-rate prices in a demand-saturation fear the procedure data does not yet confirm, and a TAVR-category-builder CEO is the call option the tape is ignoring. | — | 1 | |
| A $5M-revenue, revenue-SHRINKING robot company trading at ~90x sales is really a $270M cash-box wrapped in a serial-dilution, AI-partnership-hype machine — now under a 10b-5 class action for a Microsoft "partnership" Microsoft denied; the only real value is the cash, and management is burning it while printing stock. | — | 0 | |
| World-class robotic hands and the #3 humanoid patent estate on Earth, attached to a balance sheet that already had to sell its best asset (the Apptronik stake) to make payroll — this is an IP carcass walking, far likelier to be acqui-hired or stripped for patents than to IPO independently. | — | 1 | |
| A 30-year never-profitable robotic-navigation company that finally owns its full stack (GenesisX robot + MAGiC catheter) and is one H2 manufacturing ramp away from the razor-and-blade flywheel turning — a binary execution call where the Street's $4+ targets price the ramp as a near-certainty the $6.3M Q1 print does not yet support. | — | 0 | |
| A best-in-class MedTech compounder whose 8-9.5% organic engine is intact, but at ~20x forward EPS the stock already prices the cyber-attack recovery as a formality — the bet is that a $375M Q1 air-pocket is timing, not a dent in the franchise. | — | 8 | |
| A genuinely differentiated case-handling robotics moat wrapped around an ungovernable accounting-and-concentration core — adverse ICFR opinion + active SEC whistleblower probe + >90% Walmart revenue means the multiple is pricing a clean compounder that the filings say does not yet exist. | — | 1 | |
| A serially-acquiring imaging-and-defense-electronics compounder dressed up under a "robotics" tag — high-quality, defense-levered, ~27x forward earnings with only mid-single-digit organic growth; quality is real, the margin of safety is not. NEUTRAL/WATCHING pending an organic-growth re-acceleration or a multiple reset. | — | 8 | |
| A profitable EV maker priced as a solved-autonomy robotics company — the car business is shrinking, the GAAP profit prop (reg credits) is going to zero, and the entire ~190x multiple now rents on robotaxi + Optimus execution that is real but years behind the price. | — | 1 | |
| The only profitable humanoid maker and #1 by volume — but the float is a Shanghai-only embodied-AI bet whose revenue is 74% lab demos, not labor replacement, and whose Western TAM is being legislated to zero. | — | 1 | |
| A near-breakeven Chinese smart-EV OEM whose margin (GM 18.9% FY25, ~20% Q1'26) and a high-margin VW software-licensing annuity are real — but FY26 volume has rolled over (-22.6% YTD), and the IRON/eVTOL/robotaxi "embodied-AI" optionality the bulls pay for is unproven cash-burn; long the software+margin inflection at a 52-week-low multiple, but only if the GX/new-model cycle re-accelerates deliveries by 2H26. | — | 0 | |
| A cheap, well-run AIDC compounder mis-tagged "robotics" — it just SOLD its robots; the real bet is whether ~4% organic hardware growth + buybacks + a tariff-refund kicker re-rates a 13x stub the Street already targets at $330. | — | 8 | |
| The #1 knee/hip implant franchise priced for failure (~12x fwd EPS) — but it is the value trap until it proves organic growth can clear 3% without the Paragon/Monogram M&A crutch and stops losing the robotics war to Mako. Cheap is the thesis and the warning. | — | 8 |